Financials The Sherwin-Williams Company

Equities

SHW

US8243481061

Commodity Chemicals

Market Closed - Nyse 04:00:01 2024-04-26 pm EDT 5-day change 1st Jan Change
306.4 USD +0.54% Intraday chart for The Sherwin-Williams Company +0.16% -1.75%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 53,426 59,732 92,049 61,123 79,836 77,868 - -
Enterprise Value (EV) 1 61,950 67,797 101,498 71,494 88,311 87,653 86,843 86,721
P/E ratio 35.4 x 33.3 x 50.5 x 30.7 x 33.7 x 28.9 x 25.8 x 24.7 x
Yield 0.77% 0.73% 0.62% 1.01% 0.78% 0.94% 1.05% 1.16%
Capitalization / Revenue 2.98 x 3.25 x 4.62 x 2.76 x 3.46 x 3.29 x 3.15 x 2.99 x
EV / Revenue 3.46 x 3.69 x 5.09 x 3.23 x 3.83 x 3.71 x 3.51 x 3.33 x
EV / EBITDA 20.3 x 19.7 x 31.1 x 19.8 x 20.8 x 19.3 x 17.7 x 16.4 x
EV / FCF 31.1 x 21.8 x 54.2 x 56.1 x 33.5 x 33.3 x 29.9 x 27.3 x
FCF Yield 3.22% 4.58% 1.84% 1.78% 2.98% 3% 3.34% 3.67%
Price to Book 13 x 18.2 x 38.6 x 19.8 x 21.3 x 20.2 x 16.8 x 15.6 x
Nbr of stocks (in thousands) 274,666 243,832 261,383 257,546 255,966 254,097 - -
Reference price 2 194.5 245.0 352.2 237.3 311.9 306.4 306.4 306.4
Announcement Date 1/30/20 1/28/21 1/27/22 1/26/23 1/25/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 17,901 18,362 19,945 22,149 23,052 23,646 24,753 26,070
EBITDA 1 3,057 3,441 3,268 3,608 4,239 4,531 4,915 5,278
EBIT 1 2,611 2,860 2,695 3,027 3,617 4,076 4,464 4,875
Operating Margin 14.59% 15.57% 13.51% 13.67% 15.69% 17.24% 18.03% 18.7%
Earnings before Tax (EBT) 1 1,982 2,519 2,249 2,573 3,110 3,473 3,841 3,995
Net income 1 1,541 2,030 1,864 2,020 2,389 2,716 3,009 3,136
Net margin 8.61% 11.06% 9.35% 9.12% 10.36% 11.49% 12.15% 12.03%
EPS 2 5.497 7.360 6.980 7.720 9.250 10.60 11.90 12.39
Free Cash Flow 1 1,992 3,106 1,873 1,275 2,634 2,634 2,905 3,182
FCF margin 11.13% 16.92% 9.39% 5.76% 11.42% 11.14% 11.73% 12.21%
FCF Conversion (EBITDA) 65.18% 90.27% 57.3% 35.35% 62.12% 58.12% 59.1% 60.28%
FCF Conversion (Net income) 129.27% 152.98% 100.44% 63.14% 110.24% 96.97% 96.55% 101.47%
Dividend per Share 2 1.507 1.787 2.200 2.400 2.420 2.872 3.217 3.551
Announcement Date 1/30/20 1/28/21 1/27/22 1/26/23 1/25/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 5,147 4,762 4,999 5,872 6,047 5,230 5,442 6,241 6,117 5,252 5,367 6,344 6,368 5,481 5,621
EBITDA 1 834.2 533.4 693 976.1 1,124 814.5 879.1 1,305 1,266 788.6 896.2 1,348 1,370 903.4 979.9
EBIT 1 770.8 393.8 549.5 832.8 978.4 671 725 1,146 1,111 634.3 809.5 1,240 1,277 803.8 895.4
Operating Margin 14.98% 8.27% 10.99% 14.18% 16.18% 12.83% 13.32% 18.37% 18.16% 12.08% 15.08% 19.54% 20.05% 14.66% 15.93%
Earnings before Tax (EBT) 1 611.5 308.9 461.1 739.9 877.2 494.9 614.8 1,012 1,009 474 640 1,124 1,157 686.5 -
Net income 1 502.2 304 370.8 577.9 685.1 386.3 477.4 793.7 761.5 356.2 505.2 850.3 857.9 504.7 546
Net margin 9.76% 6.38% 7.42% 9.84% 11.33% 7.39% 8.77% 12.72% 12.45% 6.78% 9.41% 13.4% 13.47% 9.21% 9.71%
EPS 2 1.880 1.150 1.410 2.210 2.620 1.480 1.840 3.070 2.950 1.390 1.970 3.323 3.413 2.057 -
Dividend per Share 2 0.5500 0.6000 0.6000 0.6000 0.6000 0.6000 0.6050 0.6050 0.6050 0.6050 0.6455 0.7492 0.7492 0.7492 0.7859
Announcement Date 10/26/21 1/27/22 4/26/22 7/27/22 10/25/22 1/26/23 4/25/23 7/25/23 10/24/23 1/25/24 4/23/24 - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 8,523 8,066 9,449 10,371 8,475 9,786 8,975 8,853
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.788 x 2.344 x 2.892 x 2.875 x 1.999 x 2.159 x 1.826 x 1.677 x
Free Cash Flow 1 1,992 3,106 1,873 1,275 2,634 2,634 2,905 3,182
ROE (net income / shareholders' equity) 39.2% 52.5% 61.7% 72.9% 70.1% 70.2% 67.2% 69.2%
ROA (Net income/ Total Assets) 7.78% 9.93% 9.08% 9.34% 10.5% 15.6% 12.6% 13.3%
Assets 1 19,815 20,449 20,534 21,630 22,750 17,420 23,789 23,664
Book Value Per Share 2 14.90 13.40 9.120 12.00 14.60 15.20 18.20 19.70
Cash Flow per Share 2 8.280 12.40 8.400 7.330 13.60 12.40 13.30 14.20
Capex 1 329 304 372 645 888 613 537 519
Capex / Sales 1.84% 1.65% 1.87% 2.91% 3.85% 2.59% 2.17% 1.99%
Announcement Date 1/30/20 1/28/21 1/27/22 1/26/23 1/25/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
30
Last Close Price
306.4 USD
Average target price
337.5 USD
Spread / Average Target
+10.12%
Consensus
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