Stock Analysis on Net

Sherwin-Williams Co. (NYSE:SHW)

Common Stock Valuation Ratios (Price Multiples)
Quarterly Data

Microsoft Excel

Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).


Historical Valuation Ratios (Summary)

Sherwin-Williams Co., historical price multiples (quarterly data)

Microsoft Excel
Dec 31, 2024 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
Price to earnings (P/E) 32.81 35.59 34.58 31.44 33.16 24.87 30.29 28.47 28.48 29.45 34.26 38.67 37.32 42.12 34.90 33.77 31.64
Price to operating profit (P/OP) 23.08 24.24 23.36 21.22 22.20 17.07 20.75 19.19 19.16 20.54 24.24 27.85 27.19 30.17 25.17 24.24 22.45
Price to sales (P/S) 3.81 3.95 3.78 3.31 3.44 2.61 3.09 2.68 2.60 2.63 2.89 3.48 3.49 4.21 3.86 3.79 3.50
Price to book value (P/BV) 21.72 21.90 23.16 21.68 21.32 15.91 19.54 19.12 18.55 21.97 27.03 31.59 28.55 30.80 26.67 23.23 17.79 14.54 14.91 14.88

Based on: 10-K (reporting date: 2024-12-31), 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).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Sherwin-Williams Co. P/E ratio increased from Q2 2024 to Q3 2024 but then decreased significantly from Q3 2024 to Q4 2024.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Sherwin-Williams Co. P/OP ratio increased from Q2 2024 to Q3 2024 but then decreased significantly from Q3 2024 to Q4 2024.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Sherwin-Williams Co. P/S ratio increased from Q2 2024 to Q3 2024 but then slightly decreased from Q3 2024 to Q4 2024 not reaching Q2 2024 level.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Sherwin-Williams Co. P/BV ratio decreased from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.

Price to Earnings (P/E)

Sherwin-Williams Co., historical P/E calculation (quarterly data)

Microsoft Excel
Dec 31, 2024 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
No. shares of common stock outstanding1 251,364,135 251,853,291 252,257,630 253,549,049 254,464,522 255,966,090 257,148,607 257,890,316 258,442,281 259,143,416 259,183,053 260,131,306 260,373,774 262,196,196 263,302,451 265,949,600 268,805,607 272,473,518 273,148,974 272,400,000
Selected Financial Data (US$)
Net income (in thousands) 480,100 806,200 889,900 505,200 356,200 761,500 793,700 477,400 386,300 685,100 577,900 370,800 304,000 502,200 648,600 409,600 407,000 705,800 595,900 321,700
Earnings per share (EPS)2 10.67 10.15 9.96 9.53 9.39 9.45 9.11 8.25 7.82 7.48 6.77 7.02 7.16 7.50 8.25 7.97 7.55 0.00 0.00 0.00
Share price1, 3 350.02 361.38 344.50 299.61 311.26 234.98 275.96 234.79 222.63 220.20 231.97 271.37 267.22 316.02 287.72 268.96 238.97 224.49 211.18 179.62
Valuation Ratio
P/E ratio4 32.81 35.59 34.58 31.44 33.16 24.87 30.29 28.47 28.48 29.45 34.26 38.67 37.32 42.12 34.90 33.77 31.64
Benchmarks
P/E Ratio, Competitors5
Linde plc 33.25 34.03 33.88 31.97 35.05 30.01 32.97 39.93 41.34 37.71 41.67 39.22 38.92 45.83 48.23 53.02 52.57

Based on: 10-K (reporting date: 2024-12-31), 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).

1 Data adjusted for splits and stock dividends.

2 Q4 2024 Calculation
EPS = (Net incomeQ4 2024 + Net incomeQ3 2024 + Net incomeQ2 2024 + Net incomeQ1 2024) ÷ No. shares of common stock outstanding
= (480,100,000 + 806,200,000 + 889,900,000 + 505,200,000) ÷ 251,364,135 = 10.67

3 Closing price as at the filing date of Sherwin-Williams Co. Quarterly or Annual Report.

4 Q4 2024 Calculation
P/E ratio = Share price ÷ EPS
= 350.02 ÷ 10.67 = 32.81

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Sherwin-Williams Co. P/E ratio increased from Q2 2024 to Q3 2024 but then decreased significantly from Q3 2024 to Q4 2024.

Price to Operating Profit (P/OP)

Sherwin-Williams Co., historical P/OP calculation (quarterly data)

Microsoft Excel
Dec 31, 2024 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
No. shares of common stock outstanding1 251,364,135 251,853,291 252,257,630 253,549,049 254,464,522 255,966,090 257,148,607 257,890,316 258,442,281 259,143,416 259,183,053 260,131,306 260,373,774 262,196,196 263,302,451 265,949,600 268,805,607 272,473,518 273,148,974 272,400,000
Selected Financial Data (US$)
Operating income (in thousands) 698,200 1,133,100 1,251,300 729,200 641,700 1,097,800 1,110,800 717,400 597,100 993,900 847,000 564,900 372,900 695,600 901,000 589,400 560,400 959,300 841,300 500,300
Operating profit per share2 15.16 14.91 14.75 14.12 14.02 13.76 13.30 12.24 11.62 10.72 9.57 9.74 9.83 10.47 11.43 11.09 10.64 0.00 0.00 0.00
Share price1, 3 350.02 361.38 344.50 299.61 311.26 234.98 275.96 234.79 222.63 220.20 231.97 271.37 267.22 316.02 287.72 268.96 238.97 224.49 211.18 179.62
Valuation Ratio
P/OP ratio4 23.08 24.24 23.36 21.22 22.20 17.07 20.75 19.19 19.16 20.54 24.24 27.85 27.19 30.17 25.17 24.24 22.45
Benchmarks
P/OP Ratio, Competitors5
Linde plc 25.28 25.88 25.93 24.64 27.08 23.37 25.91 30.79 31.93 28.89 31.50 30.03 29.87 34.99 36.47 40.55 39.58

Based on: 10-K (reporting date: 2024-12-31), 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).

1 Data adjusted for splits and stock dividends.

2 Q4 2024 Calculation
Operating profit per share = (Operating incomeQ4 2024 + Operating incomeQ3 2024 + Operating incomeQ2 2024 + Operating incomeQ1 2024) ÷ No. shares of common stock outstanding
= (698,200,000 + 1,133,100,000 + 1,251,300,000 + 729,200,000) ÷ 251,364,135 = 15.16

3 Closing price as at the filing date of Sherwin-Williams Co. Quarterly or Annual Report.

4 Q4 2024 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 350.02 ÷ 15.16 = 23.08

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Sherwin-Williams Co. P/OP ratio increased from Q2 2024 to Q3 2024 but then decreased significantly from Q3 2024 to Q4 2024.

Price to Sales (P/S)

Sherwin-Williams Co., historical P/S calculation (quarterly data)

Microsoft Excel
Dec 31, 2024 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
No. shares of common stock outstanding1 251,364,135 251,853,291 252,257,630 253,549,049 254,464,522 255,966,090 257,148,607 257,890,316 258,442,281 259,143,416 259,183,053 260,131,306 260,373,774 262,196,196 263,302,451 265,949,600 268,805,607 272,473,518 273,148,974 272,400,000
Selected Financial Data (US$)
Net sales (in thousands) 5,297,200 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
Sales per share2 91.89 91.54 91.21 90.62 90.59 89.97 89.29 87.61 85.70 83.66 80.17 77.99 76.60 75.03 74.62 70.96 68.31 0.00 0.00 0.00
Share price1, 3 350.02 361.38 344.50 299.61 311.26 234.98 275.96 234.79 222.63 220.20 231.97 271.37 267.22 316.02 287.72 268.96 238.97 224.49 211.18 179.62
Valuation Ratio
P/S ratio4 3.81 3.95 3.78 3.31 3.44 2.61 3.09 2.68 2.60 2.63 2.89 3.48 3.49 4.21 3.86 3.79 3.50
Benchmarks
P/S Ratio, Competitors5
Linde plc 6.61 6.58 6.60 6.16 6.61 5.53 5.67 5.38 5.14 4.29 4.53 4.96 4.84 5.50 5.48 5.56 4.83

Based on: 10-K (reporting date: 2024-12-31), 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).

1 Data adjusted for splits and stock dividends.

2 Q4 2024 Calculation
Sales per share = (Net salesQ4 2024 + Net salesQ3 2024 + Net salesQ2 2024 + Net salesQ1 2024) ÷ No. shares of common stock outstanding
= (5,297,200,000 + 6,162,500,000 + 6,271,500,000 + 5,367,300,000) ÷ 251,364,135 = 91.89

3 Closing price as at the filing date of Sherwin-Williams Co. Quarterly or Annual Report.

4 Q4 2024 Calculation
P/S ratio = Share price ÷ Sales per share
= 350.02 ÷ 91.89 = 3.81

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Sherwin-Williams Co. P/S ratio increased from Q2 2024 to Q3 2024 but then slightly decreased from Q3 2024 to Q4 2024 not reaching Q2 2024 level.

Price to Book Value (P/BV)

Sherwin-Williams Co., historical P/BV calculation (quarterly data)

Microsoft Excel
Dec 31, 2024 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
No. shares of common stock outstanding1 251,364,135 251,853,291 252,257,630 253,549,049 254,464,522 255,966,090 257,148,607 257,890,316 258,442,281 259,143,416 259,183,053 260,131,306 260,373,774 262,196,196 263,302,451 265,949,600 268,805,607 272,473,518 273,148,974 272,400,000
Selected Financial Data (US$)
Shareholders’ equity (in thousands) 4,051,200 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
Book value per share (BVPS)2 16.12 16.50 14.87 13.82 14.60 14.77 14.12 12.28 12.00 10.02 8.58 8.59 9.36 10.26 10.79 11.58 13.43 15.44 14.17 12.07
Share price1, 3 350.02 361.38 344.50 299.61 311.26 234.98 275.96 234.79 222.63 220.20 231.97 271.37 267.22 316.02 287.72 268.96 238.97 224.49 211.18 179.62
Valuation Ratio
P/BV ratio4 21.72 21.90 23.16 21.68 21.32 15.91 19.54 19.12 18.55 21.97 27.03 31.59 28.55 30.80 26.67 23.23 17.79 14.54 14.91 14.88
Benchmarks
P/BV Ratio, Competitors5
Linde plc 5.73 5.54 5.68 5.19 5.47 4.62 4.70 4.48 4.28 3.85 3.73 3.67 3.38 3.69 3.47 3.34 2.78 2.84 2.83 2.17

Based on: 10-K (reporting date: 2024-12-31), 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).

1 Data adjusted for splits and stock dividends.

2 Q4 2024 Calculation
BVPS = Shareholders’ equity ÷ No. shares of common stock outstanding
= 4,051,200,000 ÷ 251,364,135 = 16.12

3 Closing price as at the filing date of Sherwin-Williams Co. Quarterly or Annual Report.

4 Q4 2024 Calculation
P/BV ratio = Share price ÷ BVPS
= 350.02 ÷ 16.12 = 21.72

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Sherwin-Williams Co. P/BV ratio decreased from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.