# The Sherwin-Williams Company (SHW)

> Source: Nexqual · https://nexqual.com/SHW · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, The Sherwin-Williams Company (SHW), nexqual.com/SHW" · informational, not investment advice.

**Price:** USD 345.63 (+2.48% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 337.27 · day 334.79–346.19 · 52w 289.86–377.77 · market cap $83.9B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $24.4B, net income $2.69B (11.0% margin), free cash flow $3.21B (SEC filings).
- Valuation: P/E 31.2x (avg 32.5x at the last 3 fiscal year-ends), net debt $9.53B.
- 7 of 80 tracked superinvestors hold SHW (13F, Q2 2026): 0 new, 4 added, 1 reduced, 2 unchanged.
- Insider open-market sales, last ~7 months: 2 Form 4 filings, $7.7M; 2 not under a Rule 10b5-1 plan ($7.7M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.38 on a 1–5 scale) (29 analysts), mean target USD 383.13 (range 340–420).
- Total return with dividends: 1Y +5.2% vs S&P 500 +14.9%; 5Y +17.9% vs S&P 500 +80.3%.
- Next earnings: 2026-10-27, EPS estimate USD 3.69, revenue estimate $6.78B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $19.9B | $22.1B | $23.1B | $23.1B | $23.6B | $24.4B |
| Gross profit | $8.54B | $9.33B | $10.8B | $11.2B | $11.5B | — |
| Operating income | $3.08B | $3.40B | $4.16B | — | — | — |
| Net income | $1.86B | $2.02B | $2.39B | $2.68B | $2.57B | $2.69B |
| EPS (diluted) | $6.98 | $7.72 | $9.25 | $10.55 | $10.26 | — |
| Free cash flow | $1.87B | $1.28B | $2.63B | $2.08B | $2.65B | $3.21B |
| Gross margin | 42.8% | 42.1% | 46.7% | 48.5% | 48.8% | — |
| Operating margin | 15.5% | 15.3% | 18.1% | — | — | — |
| Net margin | 9.3% | 9.1% | 10.4% | 11.6% | 10.9% | 11.0% |
| Revenue growth | +8.6% | +11.1% | +4.1% | +0.2% | +2.1% | — |
| Cash + short-term investments | $166M | $199M | $277M | $210M | $207M | — |
| Total debt | $8.85B | $9.59B | $9.48B | $9.23B | $9.67B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 31.2x · P/S 3.4x · EV/Sales 3.8x · P/FCF 26.1x · P/B 21.8x · FCF yield 3.83% · Earnings yield 3.20% · Dividend yield (paid, TTM) 0.94% · Net debt $9.53B · EV $93.4B
P/E at fiscal year-ends: Dec 2025 31.6x, Dec 2024 32.2x, Dec 2023 33.7x.

## Superinvestors (SEC 13F-HR, Q2 2026)
7 of 80 tracked investors hold SHW. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Jensen Investment Management |  | 4.50% | $186M | Reduced -13.9% |
| Viking Global | Viking Global Investors | 3.80% | $1.33B | Added +24.5% |
| Lee Ainslie | Maverick Capital | 1.79% | $198M | Added +46.8% |
| Mairs & Power | Mairs & Power Funds | 1.39% | $152M | Added +0.7% |
| Torray Funds |  | 0.57% | $4.2M | Added +4.8% |
| Chase Coleman | Tiger Global Management | 0.37% | $88.5M | Unchanged |
| Thomas Gayner | Markel Group | 0.25% | $32.4M | Unchanged |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 2 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-17 | Binns Justin T | President, Glob. Architectural | 13,500 | $4.8M | 33.2% | No | Too little history (no open-market trades in 2023) |
| 2026-08-07 | Jorgenrud Karl J | President, Glob. Industrial | 7,886 | $2.9M | 37.4% | No | Too little history (no open-market trades in 2023 or 2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.38 on a 1–5 scale), 29 analysts; mean target USD 383.13 (low 340, high 420).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-13 | Barclays | Initiated | Equal-Weight | $348 |
| 2026-10-09 | RBC Capital | Target lowered | Outperform | $420 → $392 |
| 2026-10-05 | UBS | Target lowered | Neutral | $390 → $363 |
| 2026-09-25 | RBC Capital | Reiterated | Outperform | $420 |
| 2026-09-25 | Wells Fargo | Target lowered | Equal-Weight | $360 → $340 |
| 2026-09-22 | RBC Capital | Reiterated | Outperform | $420 |
| 2026-09-11 | Keybanc | Initiated | Sector Weight |  |
| 2026-08-25 | DA Davidson | Initiated | Buy | $400 |
| 2026-08-03 | Guggenheim | Initiated | Buy | $400 |
| 2026-07-29 | Morgan Stanley | Target raised | Overweight | $385 → $395 |
| 2026-07-29 | JP Morgan | Target raised | Overweight | $365 → $380 |
| 2026-07-29 | Wells Fargo | Target raised | Equal-Weight | $350 → $360 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +5.2% | +17.9% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +5.2% | +3.4% |
| Volatility (annualized) | 27.7% | 27.1% |
| Max drawdown | -21.0% (Feb 2026→Jun 2026) | -42.3% (Dec 2021→Oct 2022) |

## Peers (Specialty Chemicals)
ECL (Ecolab Inc.) USD 292.3 +1.46% · APD (Air Products and Chemicals, Inc) USD 308.22 +1.84% · LIN (Linde plc) USD 510.36 +1.96% · PPG (PPG Industries, Inc.) USD 113.09 +2.65% · IFF (International Flavors & Fragran) USD 93.83 +3.08% · LYB (LyondellBasell Industries NV) USD 65.37 +3.32%

## More
Full page: https://nexqual.com/SHW · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Paint Stores Group | $3.89B | 57.3% | +5.1% |
| Performance Coatings Group | $1.91B | 28.2% | +6.3% |
| Consumer Brands Group | $983.5M | 14.5% | +21.5% |
| Total revenue | $6.79B | 100% | — |

## Company outlook (8-K filed 2026-07-28)

- "We are raising our full year 2026 guidance, with consolidated Net sales expected to be up a mid to high-single digit percentage compared to full year 2025."
- "Diluted net income per share is expected to be in the range of $10.92 to $11.32 per share, including acquisition-related amortization expense of $0.81 per share and severance and other restructuring expenses of $0.07 per share, compared to $10.26 per share in 2025."
- "Full year 2026 adjusted diluted net income per share is expected to be in the range of $11.80 to $12.20 per share compared to $11.43 per share in 2025. "We are pleased with our first-half performance and the momentum we are carrying into the second half of the year."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $3.69 | $3.58 | +3.1% | $6.78B | 24 |
| Next quarter (ends 2026-12-31) | $2.36 | $2.28 | +3.3% | $5.89B | 24 |
| Current fiscal year (ends 2026-12-31) | $12.09 | $11.75 | +2.9% | $25.12B | 29 |
| Next fiscal year (ends 2027-12-31) | $13.50 | $13.30 | +1.5% | $26.26B | 29 |