The Sherwin-Williams Company (SHW)

SHW Income Statement

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

Year Ending	TTM	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	22,977	23,052	22,149	19,945	18,362	17,901
Revenue Growth (YoY)	1.70%	4.08%	11.05%	8.62%	2.57%	2.09%
Cost of Revenue	12,109	12,294	12,824	11,402	9,679	9,865
Gross Profit	10,868	10,758	9,325	8,543	8,683	8,036
Selling, General & Admin	7,231	7,133	6,307	5,984	5,506	5,314
Other Operating Expenses	57.9	57.9	15.5	0	315.7	434.9
Operating Expenses	7,289	7,190	6,322	5,984	5,821	5,749
Operating Income	3,580	3,568	3,003	2,559	2,861	2,287
Interest Expense / Income	411.2	417.5	390.8	334.7	340.4	349.3
Other Expense / Income	33.2	40.3	39	-24.4	1.7	-43.9
Pretax Income	3,135	3,110	2,573	2,249	2,519	1,982
Income Tax	718.5	721.1	553	384.2	488.8	440.5
Net Income	2,417	2,389	2,020	1,864	2,030	1,541
Net Income Growth	13.63%	18.25%	8.35%	-8.18%	31.73%	39.02%
Shares Outstanding (Basic)	253	255	258	263	271	275
Shares Outstanding (Diluted)	256	258	262	267	276	280
Shares Change	-1.50%	-1.34%	-1.98%	-3.15%	-1.61%	-1.64%
EPS (Basic)	9.49	9.35	7.83	7.10	7.48	5.60
EPS (Diluted)	9.39	9.25	7.72	6.98	7.36	5.50
EPS Growth	15.07%	19.82%	10.60%	-5.16%	33.82%	41.39%
Free Cash Flow	2,413	2,634	1,275	1,873	3,105	1,992
Free Cash Flow Per Share	9.55	10.31	4.94	7.13	11.44	7.24
Dividend Per Share	2.530	2.420	2.400	2.200	1.787	1.507
Dividend Growth	5.20%	0.83%	9.09%	23.11%	18.58%	31.39%
Gross Margin	47.30%	46.67%	42.10%	42.83%	47.29%	44.89%
Operating Margin	15.58%	15.48%	13.56%	12.83%	15.58%	12.78%
Profit Margin	10.52%	10.36%	9.12%	9.35%	11.06%	8.61%
Free Cash Flow Margin	10.50%	11.42%	5.76%	9.39%	16.91%	11.13%
Effective Tax Rate	22.92%	23.19%	21.49%	17.09%	19.40%	22.23%
EBITDA	4,628	4,603	3,962	3,557	3,822	3,277
EBITDA Margin	20.14%	19.97%	17.89%	17.83%	20.82%	18.31%
Depreciation & Amortization	1,082	1,075	998	973.3	962.7	945.7
EBIT	3,546	3,527	2,964	2,583	2,860	2,331
EBIT Margin	15.43%	15.30%	13.38%	12.95%	15.57%	13.02%

Source: Financials are provided by Nasdaq Data Link and sourced from the audited annual (10-K) and quarterly (10-Q) reports submitted to the Securities and Exchange Commission (SEC).