PPG Industries

Materials Specialty Chemicals Pittsburgh, Pennsylvania Last filing Feb 19, 2026 · FY2025

                    Revenue
                    FY2025
                
$15.9B
                    3y CAGR +0.6%
                    
                    P62
                    
                    +0.2%
                    
                    Net income
                    FY2025
                
$1.6B
                    Net margin +9.9%
                    
                    P69
                    
                    +41.2%
                    
                    Total assets
                    FY2025
                
$22.1B
                    ROA +7.1%
                    
                    P65
                    
                    +13.7%
                    
                    Operating cash flow
                    FY2025
                
$1.9B
                    FCF margin +7.3%
                    
                    P59
                    
                    +36.7%

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

34 accounts · 3 years

Total assets $22.1B

Total liabilities $14.0B

Shareholders equity $7.9B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	$2.2B 70.3%	$1.3B -16.1%	$1.5B
Short Term Investments	$56.0M -36.4%	$88.0M 17.3%	$75.0M
Accounts Receivable	$3.3B 34.7%	$2.5B -14.0%	$2.9B
Inventory	$2.0B 8.1%	$1.8B -13.2%	$2.1B
Prepaid Expenses	$408.0M 10.9%	$368.0M -15.6%	$436.0M
Other Current Assets	$408.0M 10.9%	$368.0M -15.6%	$436.0M
Total Current Assets	$8.0B 21.4%	$6.6B -11.8%	$7.4B
Property,Plant and Equipment	$4.0B 15.6%	$3.5B -4.9%	$3.6B
Operating Lease Assets	$604.0M 1.2%	$597.0M -28.2%	$832.0M
Goodwill	$6.1B 8.1%	$5.7B -7.0%	$6.1B
Intangible Assets	$2.0B 2.5%	$1.9B -20.7%	$2.4B
Long Term Investments	$332.0M 0.3%	$331.0M 27.8%	$259.0M
Deferred Tax Assets	$481.0M 58.7%	$303.0M 11.0%	$273.0M
Other Noncurrent Assets	$597.0M 4.9%	$569.0M -2.6%	$584.0M
Total Assets	$22.1B 13.7%	$19.4B -10.2%	$21.6B
Liabilities
Accounts Payable	$4.0B 83.1%	$2.2B -17.3%	$2.6B
Accrued Liabilities	$4.0B 6.1%	$3.7B -16.5%	$4.5B
Current Portion of Long Term Debt	$706.0M -24.2%	$932.0M 208.6%	$302.0M
Operating Lease Liabilities	$138.0M 9.5%	$126.0M -35.1%	$194.0M
Total Current Liabilities	$4.9B -2.3%	$5.0B -0.8%	$5.1B
Long Term Debt	$6.6B 35.4%	$4.9B -15.2%	$5.7B
Operating Lease Liabilities Noncurrent	$450.0M -0.9%	$454.0M -27.0%	$622.0M
Deferred Tax Liabilities	$457.0M 12.8%	$405.0M -20.3%	$508.0M
Other Noncurrent Liabilities	$650.0M -13.8%	$754.0M 15.3%	$654.0M
Total Liabilities	$14.0B 12.3%	$12.5B -8.5%	$13.6B
Equity
Preferred Stock	$0	$0	$0
Common Stock	$969.0M 0.0%	$969.0M 0.0%	$969.0M
Additional Paid In Capital	$1.3B 4.2%	$1.3B 5.8%	$1.2B
Retained Earnings	$22.9B 4.3%	$22.0B 2.3%	$21.5B
Treasury Stock	$15.1B 5.4%	$14.3B 5.5%	$13.6B
Accumulated Other Comprehensive Income	$-2.2B 30.0%	$-3.1B -38.8%	$-2.2B
Noncontrolling Interest	$156.0M -11.9%	$177.0M -7.3%	$191.0M
Total Stockholders Equity	$7.9B 17.0%	$6.8B -13.4%	$7.8B
Total Liabilitiesand Equity	$22.1B 13.7%	$19.4B -10.2%	$21.6B

Income Statement

Revenue, expense, and profitability

19 accounts · 3 years

Revenue $15.9B

Operating income $1.6B

Net income $1.6B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	$15.9B 0.2%	$15.8B -2.4%	$16.2B
Expenses Cost of Revenue	$9.3B 0.7%	$9.3B -4.4%	$9.7B
Expenses Research and Development	$446.0M -0.2%	$447.0M 0.2%	$446.0M
Expenses Selling,General and Administrative	$3.4B 1.4%	$3.4B -0.3%	$3.4B
Expenses Depreciation and Amortization	$528.0M 7.3%	$492.0M -4.3%	$514.0M
Expenses Share Based Compensation	$46.0M 9.5%	$42.0M -25.0%	$56.0M
Expenses Restructuring and Asset Impairment	$6.0M -97.4%	$233.0M 11750.0%	$-2.0M
Other Income Expense Operating Income	$1.6B 16.9%	$1.3B -49.8%	$2.7B
Other Income Expense Interest Income	$153.0M -13.6%	$177.0M 26.4%	$140.0M
Other Income Expense Interest Expense	$241.0M 0.0%	$241.0M -2.4%	$247.0M
Other Income Expense Other Income/expense	$-6.0M -175.0%	$8.0M 110.0%	$-80.0M
Other Income Expense Income Before Tax	$2.0B 10.4%	$1.9B 9.6%	$1.7B
Income Tax Income Tax Expense	$458.0M -3.6%	$475.0M 11.0%	$428.0M
net Income net Income	$1.6B 41.2%	$1.1B -12.1%	$1.3B
net Income Comprehensive Income	$2.5B 915.4%	$247.0M -86.6%	$1.8B
Earnings Per Share Basic Eps	$7 45.9%	$5 -11.3%	$5
Earnings Per Share Diluted Eps	$7 46.1%	$5 -11.2%	$5
Earnings Per Share Weighted Average Shares Basic	$226.3M -3.2%	$233.8M -0.9%	$236.0M
Earnings Per Share Weighted Average Shares Diluted	$227.1M -3.3%	$234.9M -1.0%	$237.2M

Cash Flow Statement

Operating, investing, and financing flows

21 accounts · 3 years

Operating cash flow $1.9B

Investing cash flow $-700.0M

Financing cash flow $-545.0M

Account	2025	2024	2023
CashFlow
Operating Activities net Income	$1.6B 41.2%	$1.1B -12.1%	$1.3B
Operating Activities Depreciation and Amortization	$528.0M 7.3%	$492.0M -4.3%	$514.0M
Operating Activities Stock Based Compensation	$46.0M 9.5%	$42.0M -25.0%	$56.0M
Operating Activities Deferred Income Taxes	$-27.0M 72.2%	$-97.0M 48.1%	$-187.0M
Operating Activities Changes In Operating Assets and Liabilities	$35.0M 29.6%	$27.0M 118.6%	$-145.0M
Operating Activities net Cash From Operating Activities	$1.9B 36.7%	$1.4B -41.1%	$2.4B
Investing Activities Capital Expenditures	$778.0M 7.9%	$721.0M 39.7%	$516.0M
Investing Activities Business Acquisitions	$1.0M -96.8%	$31.0M -71.6%	$109.0M
Investing Activities Other Investing Activities	$-36.0M -28.6%	$-28.0M 56.3%	$-64.0M
Investing Activities net Cash From Investing Activities	$-700.0M -754.2%	$107.0M 119.2%	$-556.0M
Financing Activities Proceeds From Debt	$1.6B	$0	$0
Financing Activities Repayment of Debt	$1.0B 246.3%	$300.0M 0.0%	$300.0M
Financing Activities Repurchase of Common Stock	$790.0M 5.1%	$752.0M 774.4%	$86.0M
Financing Activities Dividends Paid	$628.0M 1.0%	$622.0M 4.0%	$598.0M
Financing Activities Proceeds From Stock Issuance	$20.0M -16.7%	$24.0M -56.4%	$55.0M
Financing Activities Other Financing Activities	$-30.0M -20.0%	$-25.0M -56.3%	$-16.0M
Financing Activities net Cash From Financing Activities	$-545.0M 61.8%	$-1.4B 8.1%	$-1.6B
Cash Reconciliation Effect of Exchange Rate On Cash	$197.0M 160.6%	$-325.0M -395.5%	$110.0M
Cash Reconciliation net Change In Cash	$893.0M 500.4%	$-223.0M -154.4%	$410.0M
Cash Reconciliation Cash At Beginning of Period	$2.2B 70.3%	$1.3B -14.9%	$1.5B
Cash Reconciliation Cash At End of Period	$2.2B 70.3%	$1.3B -14.9%	$1.5B

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+41.3%	+41.6%	+40.4%
Operating margin	+9.9%	+8.5%	+16.5%
Net margin	+9.9%	+7.0%	+7.8%
FCF margin	+7.3%	+4.4%	+11.7%
Growth
Revenue CAGR (3y)	+0.6%	-1.9%	+5.5%
Returns
ROE	+19.8%	+16.4%	+16.2%
ROA	+7.1%	+5.7%	+5.9%
ROIC	+9.3%	+8.8%	+16.2%
Liquidity
Current ratio	1.62x	1.31x	1.47x
Quick ratio	1.12x	0.75x	0.87x
Leverage
D/E	1.76x	1.84x	1.74x
Interest coverage	6.52x	5.58x	10.83x
Efficiency
Asset turnover	0.72x	0.82x	0.75x
Cash conversion cycle	-0d	+45d	+46d

Valuation

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FY2025 fundamentals · no price

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PPG Industries

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