The Sherwin-Williams Company (SHW) SEC Filings & Earnings Calls
EquiReason read 15 The Sherwin-Williams Company SEC filings in the last 12 months. Latest: 8-K on 2026-09-29 — Sherwin-Williams entered into a new $750M 364-day senior unsecured term loan and a €100M EUR term loan, replacing existing credit agreement. Refinancing for general corporate purpo.
Source: SEC EDGAR filings · figures as of 2026-06-30 · read by EquiReason
- Market cap
- 81.8B
- P/E TTM
- 31.1
- Dividend yield
- 0.9%
- 52-week
- —
- Next earnings
- 27 Oct, in 3 days
Every filing, read
last 12 months · SECWhat happened, the numbers inside, guidance and risks. The original is one click away.
29 Sep 20268-K · 1.01, 1.02, 2.03, 8.01Sherwin-Williams entered into a new $750M 364-day senior unsecured term loan and a €100M EUR term loan, replacing existing credit agreement. Refinancing for general corporate purposes.open
Figures in the filing · each found in the filing text
| New USD term loan amount | $750M | |
| New EUR term loan amount | $100M |
Risks flagged
Leverage ratio covenant of 3.75x, with temporary increase to 4.25x for qualifying acquisitions.
“Consolidated leverage ratio may not exceed 3.75 to 1.00; can temporarily increase to 4.25 to 1.00 for qualifying acquisitions.”
28 Jul 20268-K · 2.02Revenue $6.79B (+8% y/y); Diluted net income per share $3.43 (+14% y/y); Adjusted diluted net income per share $3.70 (+10% y/y); Guidance: FY2026 adjusted diluted EPS guidance raised to $11.80-$12.20earningsopen
Figures in the filing · each found in the filing text
| Revenue · Q2-2026 | $6.79B | +8% y/y |
| Diluted net income per share · Q2-2026 | $3.43 | +14% y/y |
| Adjusted diluted net income per share · Q2-2026 | $3.70 | +10% y/y |
| Net income · Q2-2026 | $844M | +12% y/y |
| EBITDA · Q2-2026 | $1.43B | +14% y/y |
| Paint Stores Group net sales · Paint Stores Group · Q2-2026 | $3.89B | +5% y/y |
| Consumer Brands Group net sales · Consumer Brands Group · Q2-2026 | $984M | +22% y/y |
| Performance Coatings Group net sales · Performance Coatings Group · Q2-2026 | $1.91B | +6% y/y |
Guidance
FY2026 adjusted diluted EPS guidance raised to $11.80-$12.20
Guidance raised on strong Q2 performance and pricing power.
Risks flagged
Raw material inflation pressuring gross margin, partially offset by pricing actions.
“We also implemented pricing actions to offset raw material inflation that pressured our gross margin in the quarter.” · word for word
28 Jul 202610-QSherwin-Williams reported Q2 2026 net sales of $6.79B (+7.5% YoY) and diluted EPS of $3.43 (+14.3% YoY), with strong operating cash flow and strategic acquisitions.earningsopen
Figures in the filing · each found in the filing text
| Net sales · Q2-2026 | $6.79B | +8% y/y |
| Net income · Q2-2026 | $844M | +12% y/y |
| Diluted earnings per share · Q2-2026 | $3.43 | +14% y/y |
| Operating cash flow · H1-2026 | $1.49B | +41% y/y |
| Capital expenditures · H1-2026 | $247M | -34% y/y |
| Total debt · 2026-06-30 | $12.07B | +13% y/y |
| Gross margin · Q2-2026 | 49.2% |
Risks flagged
Environmental liability uncertainty
“If the Company's future loss contingency is ultimately determined to be at the unaccrued maximum of the estimated range of reasonably possible outcomes for every site for which costs can be reasonably estimated, the Company's accrual for environmental-related activities would be $ 73.9 million higher than the minimum accruals at June 30, 2026.” · word for word
Lead pigment litigation exposure
“The Company is vigorously defending all lead pigment and lead-based paint litigation. ... any potential liability determined to be attributable to the Company arising out of such litigation may have a material adverse effect on the Company's results of operations, liquidity or financial condition.” · word for word
Firetex product liability
“The Company has received claims regarding this matter, including from a competitor ... and is working with its customers and end users to assist in understanding the potential impacts of the listing change, including the extent of potential remedial action that may involve application of additional product.” · word for word
28 Apr 202610-QNet sales $5.67B (+7% y/y); Net income $535M (+6% y/y); Gross profit margin 49.1open
Figures in the filing · each found in the filing text
| Net sales · Q1-2026 | $5.67B | +7% y/y |
| Net income · Q1-2026 | $535M | +6% y/y |
| Gross profit margin · Q1-2026 | 49.1% | |
| Operating cash flow · Q1-2026 | $139M | |
| Capital expenditures · Q1-2026 | $138M | -27% y/y |
| Total debt outstanding · 2026-03-31 | $11.70B | +9% y/y |
| Diluted EPS · Q1-2026 | $2.15 | +8% y/y |
Risks flagged
Environmental liability uncertainty
“Management cannot presently estimate the ultimate potential loss contingencies related to these sites or other less significant sites” · word for word
Lead pigment litigation exposure
“The Company is vigorously defending all lead pigment and lead-based paint litigation.” · word for word
Firetex product liability claims
“The Company has received claims regarding this matter... and is working with its customers and end users to assist in understanding the potential impacts” · word for word
28 Apr 20268-K · 2.02Consolidated Net sales $5.67B (+7% y/y); Diluted net income per share $2.15 (+8% y/y); Adjusted diluted net income per share $2.35 (+4% y/y); Guidance: EPS $10.70-$11.10, adjusted $11.50-$11.90earningsopen
Figures in the filing · each found in the filing text
| Consolidated Net sales · Q1-2026 | $5.67B | +7% y/y |
| Diluted net income per share · Q1-2026 | $2.15 | +8% y/y |
| Adjusted diluted net income per share · Q1-2026 | $2.35 | +4% y/y |
| Net income · Q1-2026 | $535M | +6% y/y |
| EBITDA · Q1-2026 | $998M | +9% y/y |
| Paint Stores Group net sales · Paint Stores Group · Q1-2026 | $3.05B | +4% y/y |
| Paint Stores Group same-store sales growth · Paint Stores Group · Q1-2026 | 2.4% | |
| Consumer Brands Group net sales · Consumer Brands Group · Q1-2026 | $908M | +19% y/y |
| Performance Coatings Group net sales · Performance Coatings Group · Q1-2026 | $1.71B | +7% y/y |
| Income before income taxes · Q1-2026 | $680M | +4% y/y |
Guidance
EPS $10.70-$11.10, adjusted $11.50-$11.90
Full-year guidance reaffirmed despite Q1 beat, reflecting cautious macro outlook
Risks flagged
Demand softness in most end markets despite overall sales growth
“continued demand softness in most end markets” · word for word
SG&A increased mid-single digit, with headwinds from Suvinil and new buildings
“SG&A increased by a mid-single digit percentage” · word for word
11 Mar 2026DEF 14AAnnual proxy statement with detailed compensation disclosure and non-GAAP financial metricsopen
Figures in the filing · each found in the filing text
| Diluted Net Income Per Share (GAAP) · FY2025 | $10.26 | |
| Adjusted EPS · FY2025 | $10.71 | |
| Net Sales (GAAP) · FY2025 | $23.57B | |
| Adjusted Net Sales · FY2025 | $23.41B | |
| Net Operating Cash (GAAP) · FY2025 | $3.45B | |
| Adjusted Free Cash Flow · FY2025 | $2.12B | |
| Capital Expenditures (Net) · FY2025 | $546M | |
| Cash Dividends Paid · FY2025 | $790M | |
| 2023-2025 Cumulative Adjusted EPS · 2023-2025 | $30.77 | |
| 3-Year Average Adjusted RONAE · 2023-2025 | 15.1% |
Risks flagged
Suvinil acquisition integration risk
“Impact of the Suvinil acquisition” · word for word
Trademark impairment
“Trademark Impairment 0.05” · word for word
Severance and restructuring expenses
“Severance and Other Restructuring Expenses 0.34” · word for word
19 Feb 202610-KTotal Debt $10.87B; International Net Sales % 19.6open
Figures in the filing · each found in the filing text
| Total Debt · FY2025 | $10.87B | |
| International Net Sales % · FY2025 | 19.6% |
Risks flagged
High mortgage rates suppressing housing demand
“Although the Federal Reserve cut interest rates in 2025, mortgage rates have remained high and we have not experienced meaningful positive impacts on demand for our products that serve these segments of the economy to date.”
Softer global industrial demand
“We expect inflationary pressure to continue to impact consumer and manufacturing customer behavior during 2026, including in...global industrial markets as a result of softer demand.” · word for word
High debt levels
“At December 31, 2025, we had total debt of approximately $10.871 billion, which is an increase of $982.9 million since December 31, 2024.” · word for word
29 Jan 20268-K · 2.02Consolidated net sales (FY) $23.57B (+2% y/y); Diluted net income per share (FY) $10.26 (-3% y/y); Adjusted diluted net income per share (FY) $11.43 (+1% y/y); Guidance: FY2026 adjusted EPS guidance $11.50-$11.90 vs FY2025 adjusted EPS $11.earningsopen
Figures in the filing · each found in the filing text
| Consolidated net sales (FY) · FY2025 | $23.57B | +2% y/y |
| Diluted net income per share (FY) · FY2025 | $10.26 | -3% y/y |
| Adjusted diluted net income per share (FY) · FY2025 | $11.43 | +1% y/y |
| Consolidated net sales (Q4) · Q4-2025 | $5.60B | +6% y/y |
| Diluted net income per share (Q4) · Q4-2025 | $1.92 | +1% y/y |
| Adjusted diluted net income per share (Q4) · Q4-2025 | $2.23 | +7% y/y |
| Net operating cash (FY) · FY2025 | $3.45B | +9% y/y |
| Paint Stores Group same-store sales change (Q4) · Paint Stores Group · Q4-2025 | 1.0% | |
| Paint Stores Group net sales (Q4) · Paint Stores Group · Q4-2025 | $3.13B | +3% y/y |
| Consumer Brands Group net sales (Q4) · Consumer Brands Group · Q4-2025 | $825M | +25% y/y |
Guidance
FY2026 adjusted EPS guidance $11.50-$11.90 vs FY2025 adjusted EPS $11.43
FY2026 adjusted EPS guidance of $11.50-$11.90 implies growth from FY2025 adjusted EPS of $11.43. Management expressed confidence in strategic investments and cost management.
Risks flagged
Demand choppiness persists; DIY demand soft; core industrial demand soft in Performance Coatings.
“core North America DIY demand remained soft... soft core demand across the rest of the business” · word for word
Trademark impairment and restructuring costs impacted earnings.
“trademark impairment and other costs associated with targeted restructuring actions” · word for word
17 Nov 20258-K · 1.01, 2.03Extended commitment amount $75Mopen
Figures in the filing · each found in the filing text
| Extended commitment amount · 2025-11-17 | $75M |
5 Nov 20258-K · 1.01, 2.03Commitments $125Mopen
Figures in the filing · each found in the filing text
| commitments · Q4-2025 | $125M |
Risks flagged
No material risk; routine credit facility amendment.
“No adverse financial or operational impact described.”
3 Nov 20258-K · 5.02Reported the departure of a director or principal officer (CEO/CFO change); filed financial statements and exhibits with this reportopen
Risks flagged
Transition risk during CFO change; but internal promotion mitigates disruption.
“CFO retirement with short-term non-officer role; successor internal with 20+ years at company.”
28 Oct 202510-QQ3 2025 net sales grew 3.2% YoY, net income rose 3.3%, but nine-month net income declined 5.0%.earningsopen
Figures in the filing · each found in the filing text
| Net sales · Q3-2025 | $6.36B | +3% y/y |
| Gross profit margin · Q3-2025 | 49.2% | |
| Net income · Q3-2025 | $833M | +3% y/y |
| Diluted EPS · Q3-2025 | $3.35 | +5% y/y |
| Net operating cash · 9M-2025 | $2.36B | +6% y/y |
| Capital expenditures · 9M-2025 | $567M | -26% y/y |
| Total debt outstanding · 2025-09-30 | $11.52B | |
| Treasury stock purchased · 9M-2025 | $1.54B | +8% y/y |
| Cash dividends paid · 9M-2025 | $594M | +9% y/y |
Risks flagged
Environmental liability
“At September 30, 2025, the Company had accruals reported on the Consolidated Balance Sheets as Other long-term liabilities of $218.8 million for environmental-related activities.” · word for word
Lead pigment litigation
“The Company is vigorously defending all lead pigment and lead-based paint litigation.” · word for word
Interest expense increase
“Interest expense increased 13.3% to $117.2 million in Q3 2025 from $103.4 million in Q3 2024.”
28 Oct 20258-K · 2.02Net sales $6.36B (+3% y/y); Diluted net income per share $3.35 (+5% y/y); Adjusted diluted net income per share $3.59 (+6% y/y); Guidance: Narrowed full year adjusted EPS guidance to $11.25-$11.45earningsopen
Figures in the filing · each found in the filing text
| Net sales · Q3-2025 | $6.36B | +3% y/y |
| Diluted net income per share · Q3-2025 | $3.35 | +5% y/y |
| Adjusted diluted net income per share · Q3-2025 | $3.59 | +7% y/y |
| Adjusted EBITDA · Q3-2025 | $1.36B | +6% y/y |
| Paint Stores Group net sales · Paint Stores Group · Q3-2025 | $3.84B | +5% y/y |
| Consumer Brands Group net sales · Consumer Brands Group · Q3-2025 | $770M | -3% y/y |
| Performance Coatings Group net sales · Performance Coatings Group · Q3-2025 | $1.75B | +2% y/y |
Guidance
Narrowed full year adjusted EPS guidance to $11.25-$11.45
Narrowed guidance range indicates confidence in achieving higher end of prior range.
Risks flagged
Soft DIY demand in North America and Latin America impacting Consumer Brands Group.
“Net sales in CBG decreased primarily as a result of soft DIY demand in North America and Latin America.” · word for word
The Sherwin-Williams Company — questions
- What did The Sherwin-Williams Company file recently?
- 15 SEC filings in the last 12 months. Latest: 8-K on 2026-09-29 — Sherwin-Williams entered into a new $750M 364-day senior unsecured term loan and a €100M EUR term loan, replacing existing credit agreement. Refinancing for general corporate purposes.
Every figure on this page comes from The Sherwin-Williams Company's own SEC filings — see them on SEC EDGAR. Price data is licensed and shown only inside the product.
How these figures are read: methodology · EquiReason.