The Sherwin-Williams (SHW) 10-K Summary — Year Ended Dec 31, 2024
The Sherwin-Williams Company reported flat revenue for the latest fiscal year, with net income and operating cash flow both positive. The filing highlights a mature paint and coatings business facing modest growth and ongoing operational risks.
Key takeaway
Year ended Dec 31, 2024 · FY2025 10-K
The Sherwin-Williams Company reported flat revenue for the latest fiscal year, with net income and operating cash flow both positive. The filing highlights a mature paint and coatings business facing modest growth and ongoing operational risks.
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
n/a
Income from operations reported for the year.
Net income
$2.7B
Net income reported for the year.
Operating cash flow
$3.2B
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% |
| Dec 31, 2024 | $23.1B | +0.2% |
Business overview
The company is a manufacturer and distributor of paints, coatings, and related products. Its operations include segments serving professional, industrial, and retail customers across North America and select international markets.
Financial performance
Revenue remained essentially unchanged compared to the prior year, following a period of moderate growth. Net income and operating cash flow were both reported as positive, indicating sustained profitability and cash generation.
Material risks
The filing identifies risks related to raw material cost volatility, competitive pressures, and potential disruptions in supply chains. It also notes exposure to macroeconomic conditions that could affect demand for the company's products.
Liquidity and capital
The company generated positive operating cash flow, which supports its capital allocation activities. No specific capital allocation plans or liquidity concerns were detailed in the supplied context.
What to watch
Monitor whether revenue growth resumes or continues to stagnate in the next filing.