The Sherwin-Williams Company (SHW)

SHW Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	23,054	23,052	22,149	19,945	18,362	17,901
Revenue Growth (YoY)	0.10%	4.08%	11.05%	8.62%	2.57%	2.09%
Cost of Revenue	11,883	12,294	12,824	11,402	9,679	9,865
Gross Profit	11,171	10,758	9,325	8,543	8,683	8,036
Selling, General & Admin	7,367	7,044	6,336	5,886	5,483	5,315
Other Operating Expenses	12.5	86.3	-7.1	-4	37.1	23
Operating Expenses	7,387	7,131	6,329	5,882	5,833	5,651
Operating Income	3,783	3,628	2,997	2,660	2,849	2,385
Interest Expense	-411.8	-417.5	-390.8	-334.7	-340.4	-349.3
Interest & Investment Income	19	25.2	8	4.9	3.6	37.9
Currency Exchange Gain (Loss)	-23.8	-38.7	-33.6	-12	-7.2	-19.7
Other Non Operating Income (Expenses)	-8.8	-16.2	0.3	4.1	28.1	12.7
EBT Excluding Unusual Items	3,358	3,180	2,581	2,323	2,533	2,067
Merger & Restructuring Charges	-13.9	-13.9	-15.5	-	-	-
Gain (Loss) on Sale of Investments	14.5	22.9	-9.7	30.4	-	-
Gain (Loss) on Sale of Assets	30.1	-0.9	17.8	-105.8	9.4	-16.1
Asset Writedown	-23.9	-23.9	-	-	-2.3	-122.1
Legal Settlements	-	-	-	-	-	68.2
Other Unusual Items	-54.6	-54.6	-	1.4	-21.3	-14.8
Pretax Income	3,310	3,110	2,573	2,249	2,519	1,982
Income Tax Expense	752.7	721.1	553	384.2	488.8	440.5
Earnings From Continuing Operations	2,558	2,389	2,020	1,864	2,030	1,541
Net Income	2,558	2,389	2,020	1,864	2,030	1,541
Net Income to Common	2,558	2,389	2,020	1,864	2,030	1,541
Net Income Growth	5.73%	18.25%	8.35%	-8.18%	31.73%	39.02%
Shares Outstanding (Basic)	252	255	258	263	271	275
Shares Outstanding (Diluted)	255	258	262	267	276	280
Shares Change (YoY)	-1.58%	-1.34%	-1.98%	-3.15%	-1.61%	-1.64%
EPS (Basic)	10.15	9.35	7.83	7.10	7.48	5.60
EPS (Diluted)	10.03	9.25	7.72	6.98	7.36	5.50
EPS Growth	7.52%	19.82%	10.60%	-5.16%	33.82%	41.39%
Free Cash Flow	2,048	2,634	1,275	1,873	3,105	1,992
Free Cash Flow Per Share	8.03	10.20	4.87	7.01	11.26	7.11
Dividend Per Share	2.750	2.420	2.400	2.200	1.787	1.507
Dividend Growth	13.87%	0.83%	9.09%	23.13%	18.58%	31.39%
Gross Margin	48.46%	46.67%	42.10%	42.83%	47.29%	44.89%
Operating Margin	16.41%	15.74%	13.53%	13.34%	15.52%	13.32%
Profit Margin	11.09%	10.36%	9.12%	9.35%	11.06%	8.61%
Free Cash Flow Margin	8.88%	11.42%	5.76%	9.39%	16.91%	11.13%
EBITDA	4,400	4,250	3,578	3,233	3,431	2,960
EBITDA Margin	19.09%	18.44%	16.15%	16.21%	18.68%	16.54%
D&A For EBITDA	616.4	622.5	581.1	572.6	581.4	574.9
EBIT	3,783	3,628	2,997	2,660	2,849	2,385
EBIT Margin	16.41%	15.74%	13.53%	13.34%	15.52%	13.32%
Effective Tax Rate	22.74%	23.19%	21.49%	17.09%	19.40%	22.23%
Advertising Expenses	-	394	314.4	311.9	363.4	355.2

Source: S&P Capital IQ. Standard template. Financial Sources.