InsiderClue
Stocks · Materials · Paints, Varnishes, Lacquers, Enamels & Allied Prods

PPG Industries

PPG Clue Score50
United States Fiscal year ends December CIK 0000079879
$103.96 -1.42% Close, 9 Oct 2026
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Price $103.96 −31.54% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue14.27Operating income2.38Net income0.87EPS, diluted3.27Fiscal year 2017Revenue14.75 +3.3%Operating income2.29Net income1.59 +82.6%EPS, diluted6.18 +89.0%Fiscal year 2018Revenue15.37 +4.2%Operating income2.12Net income1.34 −15.9%EPS, diluted5.47 −11.5%Fiscal year 2019Revenue15.15 −1.5%Operating income2.27Net income1.24 −7.3%EPS, diluted5.22 −4.6%Fiscal year 2020Revenue13.83 −8.7%Operating income2.11Net income1.06 −14.8%EPS, diluted4.45 −14.8%Fiscal year 2021Revenue16.80 +21.5%Operating income2.17Net income1.44 +35.9%EPS, diluted6.01 +35.1%Fiscal year 2022Revenue15.61 −7.1%Operating income2.04Net income1.03 −28.7%EPS, diluted4.32 −28.1%Fiscal year 2023Revenue16.24 +4.0%Operating income2.68Net income1.27 +23.8%EPS, diluted5.35 +23.8%Fiscal year 2024Revenue15.85 −2.4%Net income1.12 −12.1%EPS, diluted4.75 −11.2%Fiscal year 2025Revenue15.88 +0.2%Net income1.58 +41.2%EPS, diluted6.94 +46.1%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 14.27 14.75 15.37 15.15 13.83 16.80 15.61 16.24 15.85 15.88
Growth +3.3% +4.2% −1.5% −8.7% +21.5% −7.1% +4.0% −2.4% +0.2%
Operating income 2.38 2.29 2.12 2.27 2.11 2.17 2.04 2.68 n/a n/a
Net income 0.87 1.59 1.34 1.24 1.06 1.44 1.03 1.27 1.12 1.58
Growth +82.6% −15.9% −7.3% −14.8% +35.9% −28.7% +23.8% −12.1% +41.2%
EPS, diluted 3.27 6.18 5.47 5.22 4.45 6.01 4.32 5.35 4.75 6.94
Growth +89.0% −11.5% −4.6% −14.8% +35.1% −28.1% +23.8% −11.2% +46.1%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin16.7%Net margin6.1%Free cash flow margin6.8%Fiscal year 2017Operating margin15.5%Net margin10.8%Free cash flow margin8.2%Fiscal year 2018Operating margin13.8%Net margin8.7%Free cash flow margin6.9%Fiscal year 2019Operating margin15.0%Net margin8.2%Free cash flow margin11.0%Fiscal year 2020Operating margin15.2%Net margin7.7%Free cash flow margin13.2%Fiscal year 2021Operating margin12.9%Net margin8.6%Free cash flow margin7.1%Fiscal year 2022Operating margin13.1%Net margin6.6%Free cash flow margin3.1%Fiscal year 2023Operating margin16.5%Net margin7.8%Free cash flow margin11.7%Fiscal year 2024Net margin7.0%Free cash flow margin4.4%Fiscal year 2025Net margin9.9%Free cash flow margin7.3%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 16.7% 15.5% 13.8% 15.0% 15.2% 12.9% 13.1% 16.5% n/a n/a
Net margin 6.1% 10.8% 8.7% 8.2% 7.7% 8.6% 6.6% 7.8% 7.0% 9.9%
Free cash flow margin 6.8% 8.2% 6.9% 11.0% 13.2% 7.1% 3.1% 11.7% 4.4% 7.3%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow1.35Capital expenditure−0.38Free cash flow0.97Buybacks−1.05Dividends paid−0.41Fiscal year 2017Operating cash flow1.57Capital expenditure−0.36Free cash flow1.21 +24.4%Buybacks−0.81Dividends paid−0.43Fiscal year 2018Operating cash flow1.47Capital expenditure−0.41Free cash flow1.06 −12.6%Buybacks−1.72Dividends paid−0.45Fiscal year 2019Operating cash flow2.08Capital expenditure−0.41Free cash flow1.67 +57.9%Buybacks−0.33Dividends paid−0.47Fiscal year 2020Operating cash flow2.13Capital expenditure−0.30Free cash flow1.83 +9.5%Buybacks0.00Dividends paid−0.50Fiscal year 2021Operating cash flow1.56Capital expenditure−0.37Free cash flow1.19 −34.8%Buybacks−0.21Dividends paid−0.54Fiscal year 2022Operating cash flow0.96Capital expenditure−0.49Free cash flow0.48 −59.9%Buybacks−0.19Dividends paid−0.57Fiscal year 2023Operating cash flow2.41Capital expenditure−0.52Free cash flow1.90 +297.3%Buybacks−0.09Dividends paid−0.60Fiscal year 2024Operating cash flow1.42Capital expenditure−0.72Free cash flow0.70 −63.1%Buybacks−0.75Dividends paid−0.62Fiscal year 2025Operating cash flow1.94Capital expenditure−0.78Free cash flow1.16 +66.4%Buybacks−0.79Dividends paid−0.63
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 1.35 1.57 1.47 2.08 2.13 1.56 0.96 2.41 1.42 1.94
Capital expenditure −0.38 −0.36 −0.41 −0.41 −0.30 −0.37 −0.49 −0.52 −0.72 −0.78
Free cash flow 0.97 1.21 1.06 1.67 1.83 1.19 0.48 1.90 0.70 1.16
Growth +24.4% −12.6% +57.9% +9.5% −34.8% −59.9% +297.3% −63.1% +66.4%
Buybacks −1.05 −0.81 −1.72 −0.33 0.00 −0.21 −0.19 −0.09 −0.75 −0.79
Dividends paid −0.41 −0.43 −0.45 −0.47 −0.50 −0.54 −0.57 −0.60 −0.62 −0.63

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash1.82Total debt4.32Net cash (debt)−2.50Shareholders’ equity4.83Debt to equity0.89Fiscal year 2017Cash1.44Total debt4.14Net cash (debt)−2.70Shareholders’ equity5.56Debt to equity0.74Fiscal year 2018Cash0.90Total debt5.01Net cash (debt)−4.11Shareholders’ equity4.63Debt to equity1.08Fiscal year 2019Cash1.22Total debt5.04Net cash (debt)−3.83Shareholders’ equity5.28Debt to equity0.95Fiscal year 2020Cash1.83Total debt5.35Net cash (debt)−3.52Shareholders’ equity5.69Debt to equity0.94Fiscal year 2021Cash1.01Total debt6.58Net cash (debt)−5.57Shareholders’ equity6.29Debt to equity1.05Fiscal year 2022Cash1.10Total debt6.81Net cash (debt)−5.71Shareholders’ equity6.59Debt to equity1.03Fiscal year 2023Cash1.49Total debt6.05Net cash (debt)−4.56Shareholders’ equity7.83Debt to equity0.77Fiscal year 2024Cash1.27Total debt5.81Net cash (debt)−4.54Shareholders’ equity6.79Debt to equity0.86Fiscal year 2025Cash2.16Total debt7.30Net cash (debt)−5.14Shareholders’ equity7.94Debt to equity0.92
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 1.82 1.44 0.90 1.22 1.83 1.01 1.10 1.49 1.27 2.16
Total debt 4.32 4.14 5.01 5.04 5.35 6.58 6.81 6.05 5.81 7.30
Net cash (debt) −2.50 −2.70 −4.11 −3.83 −3.52 −5.57 −5.71 −4.56 −4.54 −5.14
Shareholders’ equity 4.83 5.56 4.63 5.28 5.69 6.29 6.59 7.83 6.79 7.94
Debt to equity 0.89 0.74 1.08 0.95 0.94 1.05 1.03 0.77 0.86 0.92

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Balance sheet

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Assets
1.82 1.44 0.90 1.22 1.83 1.01 1.10 1.49 1.27 2.16
2.29 2.56 2.51 2.48 2.41 2.69 2.82 2.62 2.48 2.78
1.51 1.73 1.78 1.71 1.74 2.17 2.27 1.93 1.85 2.00
2.61 2.82 2.81 2.98 3.13 3.44 3.33 3.45 3.46 4.01
3.57 3.94 4.07 4.47 5.10 6.25 5.99 6.12 5.69 6.15
15.77 16.54 16.02 17.71 19.56 21.35 20.74 21.65 19.43 22.10
Growth +4.9% −3.2% +10.6% +10.4% +9.2% −2.8% +4.4% −10.2% +13.7%
Liabilities
0.53 0.00 0.65 0.50 0.18 0.00 0.30 0.30 0.93 0.70
3.79 4.13 4.37 4.54 5.17 6.57 6.50 5.75 4.88 6.60
calc 4.32 4.14 5.01 5.04 5.35 6.58 6.81 6.05 5.81 7.30
10.86 10.87 11.28 12.31 13.74 14.94 14.04 13.62 12.47 14.00
Equity
15.98 17.14 18.13 18.91 19.47 20.37 20.83 21.50 21.99 22.94
4.83 5.56 4.63 5.28 5.69 6.29 6.59 7.83 6.79 7.94
Growth +15.1% −16.7% +14.1% +7.7% +10.5% +4.9% +18.8% −13.4% +17.0%
Per share and net cash
calc −2.50 −2.70 −4.11 −3.83 −3.52 −5.57 −5.71 −4.56 −4.54 −5.14
257.3 251.2 235.9 235.7 236.7 235.9 235.1 235.2 229.9 223.4
calc 18.76 22.12 19.63 22.42 24.04 26.65 28.04 33.30 29.51 35.54

Lines marked calc are worked out here from filed figures; point at one for how.