The Sherwin-Williams (SHW) 10-K Summary — Year Ended Dec 31, 2023
The Sherwin-Williams Company reported revenue growth for the most recent fiscal year, with operating income and net income both showing positive results. The company generated strong operating cash flow, reflecting its ability to convert earnings into cash.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
The Sherwin-Williams Company reported revenue growth for the most recent fiscal year, with operating income and net income both showing positive results. The company generated strong operating cash flow, reflecting its ability to convert earnings into cash.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$23.1B
Revenue reported for the fiscal year.
Operating income
$4.2B
Income from operations reported for the year.
Net income
$2.4B
Net income reported for the year.
Operating cash flow
$3.5B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $19.9B | n/a |
| Dec 31, 2022 | $22.1B | +11.1% |
| Dec 31, 2023 | $23.1B | +4.1% |
Business overview
The company operates in the paint and coatings industry, as described in its business overview. It manufactures and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers.
Financial performance
Revenue increased compared to the prior year, while operating income and net income remained at substantial levels. Operating cash flow was also significant, indicating healthy cash generation from core operations.
Material risks
The filing identifies risk factors in Item 1A, which may include economic conditions, raw material costs, and competitive pressures. These factors could affect the company's financial results and operations.
Liquidity and capital
The filing discusses liquidity and capital resources, indicating the company manages its cash flow and capital structure to support operations and investments. No specific capital allocation actions are detailed in the supplied context.
What to watch
Monitor the company's revenue trend in the next filing to see if growth continues or changes direction.