PPG Industries (PPG)

NYSE Materials Specialty Chemicals S&P 500

$122.38

-0.89 (-0.72%)

Close of Nov 06, 2026 · end-of-day data

Source: PPG Industries's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 05, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$14.27B	$14.75B	$15.37B	$15.15B	$13.83B	$16.80B	$15.61B	$16.24B	$15.85B	$15.88B
Cost of revenue	—	$8.21B	$9.00B	$8.65B	$7.78B	$10.29B	$9.97B	$9.68B	$9.25B	$9.32B
Gross profit	—	$6.54B	$6.37B	$6.49B	$6.06B	$6.52B	$5.64B	$6.56B	$6.59B	$6.56B
Research & development	$473.00M	$472.00M	$464.00M	$456.00M	$401.00M	$463.00M	$457.00M	$446.00M	$447.00M	$446.00M
Selling, general & admin	$3.56B	$3.55B	$3.57B	$3.60B	$3.39B	$3.78B	$3.04B	$3.40B	$3.39B	$3.44B
Operating income	$2.38B	$2.29B	$2.12B	$2.27B	$2.11B	$2.17B	$2.04B	$2.67B	—	—
Interest expense	$125.00M	$105.00M	$118.00M	$132.00M	$138.00M	$121.00M	$167.00M	$247.00M	$241.00M	$241.00M
Pre-tax income	$779.00M	$2.00B	$1.69B	$1.66B	$1.36B	$1.81B	$1.35B	$1.69B	$1.85B	$2.04B
Income tax	$214.00M	$615.00M	$353.00M	$392.00M	$291.00M	$374.00M	$320.00M	$428.00M	$475.00M	$458.00M
Net income	$873.00M	$1.59B	$1.34B	$1.24B	$1.06B	$1.44B	$1.03B	$1.27B	$1.12B	$1.58B
EBITDA	$2.82B	$2.75B	$2.62B	$2.78B	$2.62B	$2.73B	$2.54B	$3.19B	—	—
EPS (basic)	$3.29	$6.22	$5.50	$5.25	$4.47	$6.06	$4.34	$5.38	$4.77	$6.96
EPS (diluted)	$3.27	$6.18	$5.47	$5.22	$4.45	$6.01	$4.32	$5.35	$4.75	$6.94
Diluted shares	267.40M	257.80M	245.40M	238.20M	237.90M	239.40M	237.30M	237.20M	234.90M	227.10M
Gross margin	—	44.3%	41.5%	42.9%	43.8%	38.8%	36.1%	40.4%	41.6%	41.3%
Operating margin	16.7%	15.5%	13.8%	15.0%	15.2%	12.9%	13.1%	16.5%	—	—
Net margin	6.1%	10.8%	8.7%	8.2%	7.7%	8.6%	6.6%	7.8%	7.0%	9.9%

Balance sheet

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash & equivalents	$1.82B	$1.44B	$902.00M	$1.22B	$1.83B	$1.00B	$1.10B	$1.49B	$1.27B	$2.16B
Short-term investments	$43.00M	$55.00M	$61.00M	$57.00M	$96.00M	$67.00M	$55.00M	$75.00M	$88.00M	$56.00M
Receivables	$2.29B	$2.56B	$2.50B	$2.48B	$2.41B	$2.69B	$2.82B	$2.62B	$2.48B	$2.78B
Inventory	$1.51B	$1.73B	$1.78B	$1.71B	$1.74B	$2.17B	$2.27B	$1.93B	$1.85B	$2.00B
Total current assets	$6.57B	$6.48B	$5.96B	$6.17B	$6.80B	$6.77B	$7.17B	$7.43B	$6.56B	$7.96B
Goodwill	$3.57B	$3.94B	$4.07B	$4.47B	$5.10B	$6.25B	$5.99B	$6.12B	$5.69B	$6.15B
Total assets	$15.77B	$16.54B	$16.02B	$17.71B	$19.56B	$21.35B	$20.74B	$21.65B	$19.43B	$22.10B
Total current liabilities	$4.25B	$3.90B	$4.37B	$4.38B	$4.83B	$4.77B	$4.72B	$5.05B	$5.01B	$4.90B
Short-term debt	$629.00M	$12.00M	$651.00M	$513.00M	$578.00M	$9.00M	$313.00M	$306.00M	$939.00M	$706.00M
Long-term debt	$3.79B	$4.13B	$4.37B	$4.54B	$5.17B	$6.57B	$6.50B	$5.75B	$4.88B	$6.60B
Total debt	$4.42B	$4.15B	$5.02B	$5.05B	$5.75B	$6.58B	$6.82B	$6.05B	$5.82B	$7.31B
Total liabilities	$10.86B	$10.87B	$11.28B	$12.30B	$13.74B	$14.94B	$14.04B	$13.62B	$12.47B	$14.00B
Shareholders' equity	$4.83B	$5.56B	$4.63B	$5.28B	$5.69B	$6.29B	$6.59B	$7.83B	$6.79B	$7.94B

Cash flow

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Operating cash flow	$1.35B	$1.57B	$1.47B	$2.08B	$2.13B	$1.56B	$963.00M	$2.41B	$1.42B	$1.94B
Capital expenditures	$380.00M	$360.00M	$411.00M	$413.00M	$304.00M	$371.00M	$486.00M	$516.00M	$721.00M	$778.00M
Free cash flow	$971.00M	$1.21B	$1.06B	$1.67B	$1.83B	$1.19B	$477.00M	$1.90B	$699.00M	$1.16B
Investing cash flow	$436.00M	-$67.00M	-$764.00M	-$1.01B	-$1.45B	-$2.40B	-$461.00M	-$556.00M	$107.00M	-$700.00M
Financing cash flow	-$1.21B	-$1.95B	-$1.21B	-$758.00M	-$59.00M	$93.00M	-$409.00M	-$1.55B	-$1.43B	-$545.00M
Dividends paid	$414.00M	$434.00M	$453.00M	$468.00M	$496.00M	$536.00M	$570.00M	$598.00M	$622.00M	$628.00M
Share buybacks	$1.05B	$813.00M	$1.72B	$325.00M	$0	$210.00M	$190.00M	$86.00M	$752.00M	$790.00M
Stock-based compensation	$45.00M	$35.00M	$37.00M	$39.00M	$44.00M	$57.00M	$34.00M	$56.00M	$42.00M	$46.00M
Depreciation & amortization	$440.00M	$460.00M	$497.00M	$511.00M	$509.00M	$561.00M	$502.00M	$514.00M	$492.00M	$528.00M

Income statement

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue	$2.35B	$3.85B	$4.24B	$4.03B	$3.73B	$3.68B	$4.20B	$4.08B	$3.91B	$3.93B	$4.50B	$4.35B
Cost of revenue	$1.46B	$2.21B	$2.45B	$2.38B	$2.22B	$2.14B	$2.43B	$2.43B	$2.32B	$2.27B	$2.69B	$2.59B
Gross profit	$882.00M	$1.64B	$1.78B	$1.65B	$1.51B	$1.54B	$1.76B	$1.66B	$1.60B	$1.66B	$1.81B	$1.76B
Research & development	$102.00M	$107.00M	$108.00M	$102.00M	$106.00M	$102.00M	$106.00M	$106.00M	$109.00M	$113.00M	$107.00M	$106.00M
Selling, general & admin	$293.00M	$850.00M	$858.00M	$848.00M	$835.00M	$838.00M	$872.00M	$824.00M	$905.00M	$885.00M	$931.00M	$876.00M
Operating income	$555.00M	$666.00M	$796.00M	$689.00M	—	$607.00M	$743.00M	$689.00M	—	$636.00M	$743.00M	$757.00M
Interest expense	$57.00M	$55.00M	$62.00M	$67.00M	—	$56.00M	$62.00M	$65.00M	—	$61.00M	$71.00M	$67.00M
Pre-tax income	$134.00M	$542.00M	$651.00M	$578.00M	$81.00M	$502.00M	$598.00M	$556.00M	$389.00M	$517.00M	$569.00M	$631.00M
Income tax	$78.00M	$128.00M	$149.00M	$128.00M	$70.00M	$122.00M	$140.00M	$118.00M	$78.00M	$132.00M	$127.00M	$153.00M
Net income	$90.00M	$400.00M	$528.00M	$468.00M	-$280.00M	$373.00M	$450.00M	$453.00M	$300.00M	$382.00M	$437.00M	$451.00M
EBITDA	$661.00M	$796.00M	$920.00M	$808.00M	—	$728.00M	$878.00M	$827.00M	—	$768.00M	$877.00M	$891.00M
EPS (basic)	$0.38	$1.70	$2.25	$2.01	$-1.19	$1.63	$1.98	$2.01	$1.34	$1.71	$1.96	$2.03
EPS (diluted)	$0.38	$1.69	$2.24	$2.00	$-1.18	$1.63	$1.98	$2.00	$1.34	$1.70	$1.95	$2.02
Diluted shares	0	236.90M	235.70M	234.30M	-700.00K	228.90M	227.70M	226.50M	-600.00K	224.40M	223.90M	223.20M
Gross margin	37.6%	42.7%	42.1%	40.9%	40.6%	41.9%	42.0%	40.6%	40.8%	42.1%	40.2%	40.5%
Operating margin	23.7%	17.3%	18.8%	17.1%	—	16.5%	17.7%	16.9%	—	16.2%	16.5%	17.4%
Net margin	3.8%	10.4%	12.5%	11.6%	-7.5%	10.1%	10.7%	11.1%	7.7%	9.7%	9.7%	10.4%

Balance sheet

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Cash & equivalents	$1.49B	$1.18B	$1.13B	$1.25B	$1.27B	$1.83B	$1.56B	$1.83B	$2.16B	$1.57B	$1.52B	$1.59B
Short-term investments	$75.00M	$54.00M	$61.00M	$71.00M	$88.00M	$63.00M	$64.00M	$76.00M	$56.00M	$51.00M	$74.00M	$49.00M
Receivables	$2.62B	$3.58B	$3.85B	$3.65B	$2.48B	$3.43B	$3.89B	$3.72B	$2.78B	$3.68B	$3.91B	$3.86B
Inventory	$1.93B	$2.33B	$2.30B	$2.26B	$1.85B	$2.12B	$2.22B	$2.18B	$2.00B	$2.16B	$2.23B	$2.24B
Total current assets	$7.43B	$7.67B	$7.78B	$7.91B	$6.56B	$7.90B	$8.19B	$8.22B	$7.96B	$7.97B	$8.26B	$8.24B
Goodwill	$6.12B	$6.14B	$6.05B	$6.08B	$5.69B	$5.82B	$6.11B	$6.12B	$6.15B	$6.15B	$6.16B	$6.15B
Total assets	$21.65B	$21.87B	$21.73B	$21.86B	$19.43B	$21.14B	$22.10B	$22.14B	$22.10B	$22.15B	$22.53B	$22.57B
Total current liabilities	$5.05B	$4.94B	$5.22B	$5.00B	$5.01B	$5.84B	$5.76B	$5.61B	$4.90B	$4.95B	$5.23B	$5.22B
Short-term debt	$306.00M	$311.00M	$639.00M	$339.00M	$939.00M	$1.69B	$1.41B	$1.41B	$706.00M	$736.00M	$691.00M	$686.00M
Long-term debt	$5.75B	$5.94B	$5.76B	$6.14B	$4.88B	$5.57B	$5.92B	$5.90B	$6.60B	$6.41B	$6.20B	$6.16B
Total debt	$6.05B	$6.25B	$6.40B	$6.48B	$5.82B	$7.26B	$7.33B	$7.31B	$7.31B	$7.14B	$6.89B	$6.84B
Total liabilities	$13.62B	$13.74B	$13.78B	$13.89B	$12.47B	$14.05B	$14.36B	$14.19B	$14.00B	$13.90B	$13.94B	$13.95B
Shareholders' equity	$7.83B	$7.94B	$7.77B	$7.79B	$6.79B	$6.93B	$7.58B	$7.80B	$7.94B	$8.10B	$8.44B	$8.49B

Cash flow

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Operating cash flow	$898.00M	-$60.00M	$365.00M	$769.00M	$346.00M	-$18.00M	$387.00M	$685.00M	$887.00M	$33.00M	$559.00M	$566.00M
Capital expenditures	$135.00M	$252.00M	$115.00M	$146.00M	$208.00M	$209.00M	$121.00M	$147.00M	$301.00M	$196.00M	$113.00M	$155.00M
Free cash flow	$763.00M	-$312.00M	$250.00M	$623.00M	$138.00M	-$227.00M	$266.00M	$538.00M	$586.00M	-$163.00M	$446.00M	$411.00M
Investing cash flow	-$157.00M	-$239.00M	-$131.00M	-$141.00M	$618.00M	-$168.00M	-$120.00M	-$129.00M	-$283.00M	-$279.00M	-$179.00M	-$195.00M
Financing cash flow	-$545.00M	-$35.00M	-$150.00M	-$432.00M	-$808.00M	$698.00M	-$661.00M	-$306.00M	-$276.00M	-$334.00M	-$444.00M	-$321.00M
Dividends paid	—	$153.00M	$152.00M	$159.00M	—	$154.00M	$154.00M	$160.00M	—	$159.00M	$158.00M	$165.00M
Share buybacks	$86.00M	$149.00M	$163.00M	$199.00M	$241.00M	$394.00M	$146.00M	$147.00M	$103.00M	$96.00M	$79.00M	$147.00M
Stock-based compensation	$14.00M	$11.00M	$10.00M	$9.00M	$12.00M	$23.00M	$13.00M	-$1.00M	$11.00M	$11.00M	$16.00M	$10.00M
Depreciation & amortization	$106.00M	$130.00M	$124.00M	$119.00M	$119.00M	$121.00M	$135.00M	$138.00M	$134.00M	$132.00M	$134.00M	$134.00M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.