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

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

34 accounts · 5 years

Total assets $22.1B

Total liabilities $14.0B

Shareholders equity $7.9B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	13.6%	8.0%	9.3%	7.0%	6.0%
Short Term Investments	0.4%	0.6%	0.5%	0.4%	0.4%
Accounts Receivable	21.0%	15.6%	17.7%	18.1%	16.0%
Inventory	12.6%	11.7%	13.1%	14.6%	12.9%
Prepaid Expenses	2.6%	2.3%	2.7%	2.8%	2.3%
Other Current Assets	2.6%	2.3%	2.7%	2.8%	2.3%
Total Current Assets	50.1%	41.4%	45.8%	45.9%	40.3%
Property,Plant and Equipment	25.2%	21.9%	22.4%	21.3%	20.5%
Operating Lease Assets	3.8%	3.8%	5.1%	5.3%	5.3%
Goodwill	38.7%	35.9%	37.6%	38.9%	37.2%
Intangible Assets	12.4%	12.1%	14.9%	15.5%	16.6%
Long Term Investments	2.1%	2.1%	1.6%	1.6%	1.6%
Deferred Tax Assets	3.0%	1.9%	1.7%	0.6%	1.2%
Other Noncurrent Assets	3.8%	3.6%	3.6%	3.7%	4.4%
Total Assets	139.2%	122.6%	133.3%	132.9%	127.1%
Liabilities
Accounts Payable	24.9%	13.6%	16.1%	16.3%	16.3%
Accrued Liabilities	24.9%	23.5%	27.5%	26.2%	26.1%
Current Portion of Long Term Debt	4.4%	5.9%	1.9%	1.9%	0.0%
Operating Lease Liabilities	0.9%	0.8%	1.2%	1.2%	1.1%
Total Current Liabilities	30.9%	31.6%	31.1%	30.2%	28.4%
Long Term Debt	41.6%	30.8%	35.4%	41.6%	39.1%
Operating Lease Liabilities Noncurrent	2.8%	2.9%	3.8%	4.1%	4.1%
Deferred Tax Liabilities	2.9%	2.6%	3.1%	3.2%	3.8%
Other Noncurrent Liabilities	4.1%	4.8%	4.0%	4.0%	4.5%
Total Liabilities	88.2%	78.7%	83.9%	89.9%	88.9%
Equity
Preferred Stock	0.0%	0.0%	0.0%	0.0%	0.0%
Common Stock	6.1%	6.1%	6.0%	6.2%	5.8%
Additional Paid In Capital	8.3%	8.0%	7.4%	7.2%	6.4%
Retained Earnings	144.5%	138.8%	132.4%	133.4%	121.2%
Treasury Stock	95.2%	90.5%	83.7%	86.6%	79.7%
Accumulated Other Comprehensive Income	-13.7%	-19.6%	-13.8%	-18.0%	-16.4%
Noncontrolling Interest	1.0%	1.1%	1.2%	0.7%	0.7%
Total Stockholders Equity	50.0%	42.8%	48.2%	42.2%	37.4%
Total Liabilitiesand Equity	139.2%	122.6%	133.3%	132.9%	127.1%

Income Statement

Revenue, expense, and profitability

19 accounts · 5 years

Revenue $15.9B

Operating income $1.6B

Net income $1.6B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%	100.0%	100.0%
Expenses Cost of Revenue	58.7%	58.4%	59.6%	63.9%	61.2%
Expenses Research and Development	2.8%	2.8%	2.7%	2.9%	2.8%
Expenses Selling,General and Administrative	21.7%	21.4%	20.9%	19.5%	22.5%
Expenses Depreciation and Amortization	3.3%	3.1%	3.2%	3.2%	3.3%
Expenses Share Based Compensation	0.3%	0.3%	0.3%	0.2%	0.3%
Expenses Restructuring and Asset Impairment	0.0%	1.5%	-0.0%	0.2%	0.2%
Other Income Expense Operating Income	9.9%	8.5%	16.5%	13.1%	12.9%
Other Income Expense Interest Income	1.0%	1.1%	0.9%	0.3%	0.2%
Other Income Expense Interest Expense	1.5%	1.5%	1.5%	1.1%	0.7%
Other Income Expense Other Income/expense	-0.0%	0.1%	-0.5%	0.4%	0.7%
Other Income Expense Income Before Tax	12.9%	11.7%	10.4%	8.7%	10.8%
Income Tax Income Tax Expense	2.9%	3.0%	2.6%	2.0%	2.2%
net Income net Income	9.9%	7.0%	7.8%	6.6%	8.6%
net Income Comprehensive Income	15.8%	1.6%	11.3%	6.2%	7.7%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	1.4%	1.5%	1.5%	1.5%	1.4%
Earnings Per Share Weighted Average Shares Diluted	1.4%	1.5%	1.5%	1.5%	1.4%

Cash Flow Statement

Operating, investing, and financing flows

21 accounts · 5 years

Operating cash flow $1.9B

Investing cash flow $-700.0M

Financing cash flow $-545.0M

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	9.9%	7.0%	7.8%	6.6%	8.6%
Operating Activities Depreciation and Amortization	3.3%	3.1%	3.2%	3.2%	3.3%
Operating Activities Stock Based Compensation	0.3%	0.3%	0.3%	0.2%	0.3%
Operating Activities Deferred Income Taxes	-0.2%	-0.6%	-1.2%	-1.0%	0.2%
Operating Activities Changes In Operating Assets and Liabilities	0.2%	0.2%	-0.9%	1.1%	1.7%
Operating Activities net Cash From Operating Activities	12.2%	9.0%	14.8%	6.2%	9.3%
Investing Activities Capital Expenditures	4.9%	4.6%	3.2%	3.1%	2.2%
Investing Activities Business Acquisitions	0.0%	0.2%	0.7%	0.7%	12.7%
Investing Activities Other Investing Activities	-0.2%	-0.2%	-0.4%	-0.3%	-0.3%
Investing Activities net Cash From Investing Activities	-4.4%	0.7%	-3.4%	-3.0%	-14.3%
Financing Activities Proceeds From Debt	10.3%	0.0%	0.0%	0.0%	0.0%
Financing Activities Repayment of Debt	6.5%	1.9%	1.8%	0.0%	0.0%
Financing Activities Repurchase of Common Stock	5.0%	4.7%	0.5%	1.2%	1.2%
Financing Activities Dividends Paid	4.0%	3.9%	3.7%	3.7%	3.2%
Financing Activities Proceeds From Stock Issuance	0.1%	0.2%	0.3%	0.1%	0.3%
Financing Activities Other Financing Activities	-0.2%	-0.2%	-0.1%	-0.2%	0.1%
Financing Activities net Cash From Financing Activities	-3.4%	-9.0%	-9.5%	-2.6%	0.6%
Cash Reconciliation Effect of Exchange Rate On Cash	1.2%	-2.1%	0.7%	0.0%	-0.4%
Cash Reconciliation net Change In Cash	5.6%	-1.4%	2.5%	0.6%	-4.9%
Cash Reconciliation Cash At Beginning of Period	13.6%	8.0%	9.2%	6.9%	6.0%
Cash Reconciliation Cash At End of Period	13.6%	8.0%	9.2%	6.9%	6.0%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+41.3%	+41.6%	+40.4%	+36.1%	+38.8%
Operating margin	+9.9%	+8.5%	+16.5%	+13.1%	+12.9%
Net margin	+9.9%	+7.0%	+7.8%	+6.6%	+8.6%
FCF margin	+7.3%	+4.4%	+11.7%	+3.1%	+7.1%
Growth
Revenue CAGR (3y)	+0.6%	-1.9%	+5.5%	+1.0%	+3.0%
Returns
ROE	+19.8%	+16.4%	+16.2%	+15.6%	+22.9%
ROA	+7.1%	+5.7%	+5.9%	+4.9%	+6.7%
ROIC	+9.3%	+8.8%	+16.2%	+12.7%	+14.5%
Liquidity
Current ratio	1.62x	1.31x	1.47x	1.52x	1.42x
Quick ratio	1.12x	0.75x	0.87x	0.83x	0.77x
Leverage
D/E	1.76x	1.84x	1.74x	2.13x	2.38x
Interest coverage	6.52x	5.58x	10.83x	12.23x	17.94x
Efficiency
Asset turnover	0.72x	0.82x	0.75x	0.75x	0.79x
Cash conversion cycle	-0d	+45d	+46d	+56d	+38d

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FY2025 fundamentals · no price

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PPG Industries

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