The Sherwin-Williams Company (SHW)

SHW Cash Flow Statement

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

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	2,688	2,569	2,681	2,389	2,020	1,864
Depreciation & Amortization	726.5	676.9	624	622.5	581.1	572.6
Loss (Gain) From Sale of Assets	-18.9	-20.8	-49.9	-19.2	-10.7	105.8
Asset Writedown & Restructuring Costs	57.5	57.5	-	16.2	62.8	-
Loss (Gain) From Sale of Investments	112.7	104	75	65.4	38.5	53.6
Stock-Based Compensation	120.2	123.5	138.1	115.9	99.7	97.7
Other Operating Activities	162.4	149.4	-251.5	-291.9	-159.1	-150.8
Change in Accounts Receivable	-162.8	-162.8	-10.7	85.6	-200.2	-287.8
Change in Inventory	132.5	132.5	-32.9	323.4	-666.7	-228.1
Change in Accounts Payable	-37.8	-37.8	21.8	-241.1	46.6	346.1
Change in Income Taxes	-38.6	-38.6	-13.5	16.9	9.5	-71.2
Change in Other Net Operating Assets	144.8	-100.7	-28.6	439.4	98.3	-57.7
Operating Cash Flow	3,887	3,452	3,153	3,522	1,920	2,245
Operating Cash Flow Growth	26.99%	9.46%	-10.47%	83.44%	-14.47%	-34.15%

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Capital Expenditures	-673.5	-797.6	-1,070	-888.4	-644.5	-372
Sale of Property, Plant & Equipment	16.3	10.7	11.6	70.1	33.2	14.8
Cash Acquisitions	-1,155	-1,211	-78.9	-264.7	-1,003	-210.9
Divestitures	-	-	-	103.7	-	122.5
Other Investing Activities	-75.2	-68.1	-59	-60	6.8	-30.8
Investing Cash Flow	-1,887	-2,066	-1,196	-1,039	-1,608	-476.4

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Short-Term Debt Issued	-	537.4	288.6	-	214.4	763.9
Long-Term Debt Issued	-	1,540	1,093	306.5	1,207	994.8
Total Debt Issued	2,547	2,077	1,382	306.5	1,421	1,759
Short-Term Debt Repaid	-	-	-	-603.9	-	-
Long-Term Debt Repaid	-	-1,064	-1,109	-136.4	-267.6	-434.4
Total Debt Repaid	-1,164	-1,064	-1,109	-740.3	-267.6	-434.4
Net Debt Issued (Repaid)	1,383	1,014	272.9	-433.8	1,154	1,324
Issuance of Common Stock	155.6	140.6	242	111.6	89.3	204.5
Repurchase of Common Stock	-2,623	-1,656	-1,739	-1,432	-883.2	-2,752
Common Dividends Paid	-786.1	-789.8	-723.4	-623.7	-618.5	-587.1
Other Financing Activities	-81.8	-86.8	-69.8	-46.7	-23.8	-23.4
Financing Cash Flow	-1,952	-1,379	-2,017	-2,425	-282.4	-1,834

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Foreign Exchange Rate Adjustments	-23.6	-9.9	-6.2	20	3.2	4.9
Net Cash Flow	23.7	-3.2	-66.4	78	33.1	-60.9

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Free Cash Flow	3,213	2,654	2,083	2,634	1,275	1,873
Free Cash Flow Growth	49.13%	27.40%	-20.90%	106.48%	-31.89%	-39.69%
Free Cash Flow Margin	13.16%	11.26%	9.02%	11.42%	5.76%	9.39%
Free Cash Flow Per Share	12.96	10.60	8.20	10.20	4.87	7.01
Levered Free Cash Flow	2,506	1,929	1,915	2,611	1,235	1,466
Unlevered Free Cash Flow	2,829	2,219	2,175	2,872	1,479	1,675

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Interest Paid	509.1	453	406.9	416.5	371.1	338.8
Cash Income Tax Paid	458	592.7	779.8	816.7	580.1	466.3
Change in Working Capital	38.1	-207.4	-63.9	624.2	-712.5	-298.7

SEC Filings: 10-K · 10-Q

Data Source: S&P Global Market Intelligence Last updated: Jul 28, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Aug 19, 2026

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