Stock Analysis on Net

Sherwin-Williams Co. (NYSE:SHW)

Analysis of Long-term (Investment) Activity Ratios

Microsoft Excel

Long-term Activity Ratios (Summary)

Sherwin-Williams Co., long-term (investment) activity ratios

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Net fixed asset turnover 6.21 8.13 10.04 10.68 10.01
Net fixed asset turnover (including operating lease, right-of-use asset) 4.07 4.88 5.44 5.41 5.11
Total asset turnover 0.98 1.00 0.98 0.97 0.90
Equity turnover 5.70 6.20 7.14 8.18 5.09

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Sherwin-Williams Co. net fixed asset turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Sherwin-Williams Co. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2022 to 2023 and from 2023 to 2024.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Sherwin-Williams Co. total asset turnover ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Sherwin-Williams Co. equity turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

Net Fixed Asset Turnover

Sherwin-Williams Co., net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in thousands)
Net sales 23,098,500 23,051,900 22,148,900 19,944,600 18,361,700
Property, plant and equipment, net, including finance lease right-of-use assets 3,720,700 2,836,800 2,207,000 1,867,300 1,834,500
Long-term Activity Ratio
Net fixed asset turnover1 6.21 8.13 10.04 10.68 10.01
Benchmarks
Net Fixed Asset Turnover, Competitors2
Linde plc 1.32 1.33 1.41 1.18 0.94
Net Fixed Asset Turnover, Sector
Chemicals 1.96 2.03 2.14 1.81 1.49
Net Fixed Asset Turnover, Industry
Materials 1.23 1.26 1.35 1.27 0.99

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2024 Calculation
Net fixed asset turnover = Net sales ÷ Property, plant and equipment, net, including finance lease right-of-use assets
= 23,098,500 ÷ 3,720,700 = 6.21

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Sherwin-Williams Co. net fixed asset turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Sherwin-Williams Co., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in thousands)
Net sales 23,098,500 23,051,900 22,148,900 19,944,600 18,361,700
 
Property, plant and equipment, net, including finance lease right-of-use assets 3,720,700 2,836,800 2,207,000 1,867,300 1,834,500
Operating lease right-of-use assets 1,953,800 1,887,400 1,866,800 1,820,600 1,761,100
Property, plant and equipment, net, including finance lease right-of-use assets (including operating lease, right-of-use asset) 5,674,500 4,724,200 4,073,800 3,687,900 3,595,600
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 4.07 4.88 5.44 5.41 5.11
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Linde plc 1.28 1.29 1.37 1.14 0.91
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Chemicals 1.78 1.85 1.95 1.65 1.37
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Materials 1.17 1.20 1.28 1.21 0.95

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2024 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Net sales ÷ Property, plant and equipment, net, including finance lease right-of-use assets (including operating lease, right-of-use asset)
= 23,098,500 ÷ 5,674,500 = 4.07

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Sherwin-Williams Co. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2022 to 2023 and from 2023 to 2024.

Total Asset Turnover

Sherwin-Williams Co., total asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in thousands)
Net sales 23,098,500 23,051,900 22,148,900 19,944,600 18,361,700
Total assets 23,632,600 22,954,400 22,594,000 20,666,700 20,401,600
Long-term Activity Ratio
Total asset turnover1 0.98 1.00 0.98 0.97 0.90
Benchmarks
Total Asset Turnover, Competitors2
Linde plc 0.41 0.41 0.42 0.38 0.31
Total Asset Turnover, Sector
Chemicals 0.54 0.54 0.54 0.50 0.42
Total Asset Turnover, Industry
Materials 0.51 0.50 0.51 0.49 0.40

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2024 Calculation
Total asset turnover = Net sales ÷ Total assets
= 23,098,500 ÷ 23,632,600 = 0.98

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Sherwin-Williams Co. total asset turnover ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

Equity Turnover

Sherwin-Williams Co., equity turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in thousands)
Net sales 23,098,500 23,051,900 22,148,900 19,944,600 18,361,700
Shareholders’ equity 4,051,200 3,715,800 3,102,100 2,437,200 3,610,800
Long-term Activity Ratio
Equity turnover1 5.70 6.20 7.14 8.18 5.09
Benchmarks
Equity Turnover, Competitors2
Linde plc 0.87 0.83 0.83 0.70 0.58
Equity Turnover, Sector
Chemicals 1.33 1.29 1.29 1.09 0.90
Equity Turnover, Industry
Materials 1.37 1.31 1.33 1.22 0.98

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2024 Calculation
Equity turnover = Net sales ÷ Shareholders’ equity
= 23,098,500 ÷ 4,051,200 = 5.70

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Sherwin-Williams Co. equity turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024.