Stock Analysis on Net
Stock Analysis on Net

Sherwin-Williams Co. (NYSE:SHW)

Analysis of Long-term (Investment) Activity Ratios 
Quarterly Data

Microsoft Excel

Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.

Long-term Activity Ratios (Summary)

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

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Net fixed asset turnover 6.89 7.34 7.64 8.13 8.92 9.40 9.57 10.04 10.62 10.59 10.64 10.68 10.77 10.88 10.60 10.01 10.11 9.86 9.84 9.75 — — —
Net fixed asset turnover (including operating lease, right-of-use asset) 4.40 4.58 4.70 4.88 5.17 5.33 5.36 5.44 5.57 5.46 5.42 5.41 5.46 5.50 5.38 5.11 5.11 5.07 5.13 5.08 — — —
Total asset turnover 0.96 0.97 0.98 1.00 1.00 0.99 0.98 0.98 0.97 0.94 0.93 0.97 0.95 0.96 0.92 0.90 0.86 0.87 0.88 0.87 — — —
Equity turnover 5.55 6.13 6.56 6.20 6.09 6.32 7.13 7.14 8.35 9.34 9.08 8.18 7.31 6.92 6.13 5.09 4.28 4.58 5.47 4.34 — — —

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

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 Q1 2024 to Q2 2024 and from Q2 2024 to Q3 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 Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Sherwin-Williams Co. total asset turnover ratio deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Sherwin-Williams Co. equity turnover ratio deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Net Fixed Asset Turnover

Sherwin-Williams Co., net fixed asset turnover calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in thousands)
Net sales 6,162,500 6,271,500 5,367,300 5,252,200 6,116,700 6,240,600 5,442,400 5,230,500 6,047,400 5,872,300 4,998,700 4,762,100 5,146,700 5,379,800 4,656,000 4,488,800 5,122,200 4,604,000 4,146,700 4,114,429 4,867,650 4,877,860 4,040,861
Property, plant and equipment, net 3,344,700 3,136,600 3,008,800 2,836,800 2,580,600 2,442,500 2,362,000 2,207,000 2,041,200 1,961,900 1,907,300 1,867,300 1,827,200 1,806,300 1,780,400 1,834,500 1,780,000 1,798,600 1,829,500 1,835,200 1,798,301 1,773,586 1,762,998
Long-term Activity Ratio
Net fixed asset turnover1 6.89 7.34 7.64 8.13 8.92 9.40 9.57 10.04 10.62 10.59 10.64 10.68 10.77 10.88 10.60 10.01 10.11 9.86 9.84 9.75 — — —
Benchmarks
Net Fixed Asset Turnover, Competitors2
Linde plc 1.31 1.34 1.34 1.34 1.37 1.39 1.40 1.42 1.49 1.36 1.24 1.18 1.14 1.08 1.03 0.95 0.97 0.98 1.02 0.97 — — —

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Net fixed asset turnover = (Net salesQ3 2024 + Net salesQ2 2024 + Net salesQ1 2024 + Net salesQ4 2023) ÷ Property, plant and equipment, net
= (6,162,500 + 6,271,500 + 5,367,300 + 5,252,200) ÷ 3,344,700 = 6.89

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 Q1 2024 to Q2 2024 and from Q2 2024 to Q3 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 (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in thousands)
Net sales 6,162,500 6,271,500 5,367,300 5,252,200 6,116,700 6,240,600 5,442,400 5,230,500 6,047,400 5,872,300 4,998,700 4,762,100 5,146,700 5,379,800 4,656,000 4,488,800 5,122,200 4,604,000 4,146,700 4,114,429 4,867,650 4,877,860 4,040,861
 
Property, plant and equipment, net 3,344,700 3,136,600 3,008,800 2,836,800 2,580,600 2,442,500 2,362,000 2,207,000 2,041,200 1,961,900 1,907,300 1,867,300 1,827,200 1,806,300 1,780,400 1,834,500 1,780,000 1,798,600 1,829,500 1,835,200 1,798,301 1,773,586 1,762,998
Operating lease right-of-use assets 1,890,000 1,890,800 1,878,900 1,887,400 1,874,700 1,869,200 1,854,200 1,866,800 1,853,000 1,842,400 1,837,900 1,820,600 1,774,400 1,764,200 1,728,800 1,761,100 1,738,600 1,696,600 1,683,400 1,685,600 1,659,010 1,667,517 1,663,444
Property, plant and equipment, net (including operating lease, right-of-use asset) 5,234,700 5,027,400 4,887,700 4,724,200 4,455,300 4,311,700 4,216,200 4,073,800 3,894,200 3,804,300 3,745,200 3,687,900 3,601,600 3,570,500 3,509,200 3,595,600 3,518,600 3,495,200 3,512,900 3,520,800 3,457,311 3,441,103 3,426,442
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 4.40 4.58 4.70 4.88 5.17 5.33 5.36 5.44 5.57 5.46 5.42 5.41 5.46 5.50 5.38 5.11 5.11 5.07 5.13 5.08 — — —

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = (Net salesQ3 2024 + Net salesQ2 2024 + Net salesQ1 2024 + Net salesQ4 2023) ÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= (6,162,500 + 6,271,500 + 5,367,300 + 5,252,200) ÷ 5,234,700 = 4.40

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 Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Total Asset Turnover

Sherwin-Williams Co., total asset turnover calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in thousands)
Net sales 6,162,500 6,271,500 5,367,300 5,252,200 6,116,700 6,240,600 5,442,400 5,230,500 6,047,400 5,872,300 4,998,700 4,762,100 5,146,700 5,379,800 4,656,000 4,488,800 5,122,200 4,604,000 4,146,700 4,114,429 4,867,650 4,877,860 4,040,861
Total assets 23,968,300 23,734,000 23,428,100 22,954,400 23,004,500 23,166,100 23,129,900 22,594,000 22,245,800 22,052,800 21,730,400 20,666,700 20,736,600 20,519,600 20,435,000 20,401,600 20,809,700 20,494,500 20,570,300 20,496,200 20,864,339 21,186,136 20,961,641
Long-term Activity Ratio
Total asset turnover1 0.96 0.97 0.98 1.00 1.00 0.99 0.98 0.98 0.97 0.94 0.93 0.97 0.95 0.96 0.92 0.90 0.86 0.87 0.88 0.87 — — —
Benchmarks
Total Asset Turnover, Competitors2
Linde plc 0.40 0.41 0.41 0.41 0.42 0.42 0.42 0.42 0.45 0.42 0.38 0.38 0.35 0.34 0.33 0.31 0.31 0.32 0.33 0.33 — — —

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Total asset turnover = (Net salesQ3 2024 + Net salesQ2 2024 + Net salesQ1 2024 + Net salesQ4 2023) ÷ Total assets
= (6,162,500 + 6,271,500 + 5,367,300 + 5,252,200) ÷ 23,968,300 = 0.96

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 deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Equity Turnover

Sherwin-Williams Co., equity turnover calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in thousands)
Net sales 6,162,500 6,271,500 5,367,300 5,252,200 6,116,700 6,240,600 5,442,400 5,230,500 6,047,400 5,872,300 4,998,700 4,762,100 5,146,700 5,379,800 4,656,000 4,488,800 5,122,200 4,604,000 4,146,700 4,114,429 4,867,650 4,877,860 4,040,861
Shareholders’ equity 4,156,100 3,751,800 3,503,700 3,715,800 3,780,000 3,631,100 3,166,800 3,102,100 2,597,800 2,224,600 2,234,300 2,437,200 2,690,300 2,840,400 3,078,700 3,610,800 4,207,300 3,869,900 3,289,100 4,123,300 4,022,860 3,747,482 3,460,061
Long-term Activity Ratio
Equity turnover1 5.55 6.13 6.56 6.20 6.09 6.32 7.13 7.14 8.35 9.34 9.08 8.18 7.31 6.92 6.13 5.09 4.28 4.58 5.47 4.34 — — —
Benchmarks
Equity Turnover, Competitors2
Linde plc 0.84 0.86 0.84 0.83 0.83 0.83 0.83 0.83 0.90 0.82 0.74 0.70 0.67 0.63 0.60 0.58 0.59 0.60 0.63 0.58 — — —

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Equity turnover = (Net salesQ3 2024 + Net salesQ2 2024 + Net salesQ1 2024 + Net salesQ4 2023) ÷ Shareholders’ equity
= (6,162,500 + 6,271,500 + 5,367,300 + 5,252,200) ÷ 4,156,100 = 5.55

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 Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.