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PPG · NYSE · United States · Paints, Varnishes, Lacquers, Enamels & Allied Prods
In shortPPG INDUSTRIES INC is profitable, generates cash and carries moderate debt, with revenue stable (+0.2% last year).
Financial health
Solid
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | – | n/a |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 9.9% | 60/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 21.4% | 100/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | – | n/a |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 1.62× | 69/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.92× | 60/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | – | n/a |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | – | n/a |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | – | n/a |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 7.3% | 49/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | 0.74× | 55/100 |
| Years with positive free cash flow (last 5) | 5 of 5 | 100/100 |
Weight in the score: 20%
| Profitable years (last 5) | 5 of 5 | 100/100 |
|---|---|---|
| Years of revenue decline (last 5) | 2 of 5 | 33/100 |
| Revenue growth volatility | 11.0% | 71/100 |
| Operating margin volatility | 2.0% | 91/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 0.6% | 20/100 |
|---|---|---|
| EPS growth, 3-year average | 17.1% | 100/100 |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 16,802 | 15,614 | 16,242 | 15,845 | 15,875 |
| Cost of revenue | 10,286 | 9,975 | 9,678 | 9,252 | 9,316 |
| Gross profit | 6,516 | 5,639 | 6,564 | 6,593 | 6,559 |
| Research & development | 463 | 457 | 446 | 447 | 446 |
| Selling, general & admin | 3,780 | 3,037 | 3,401 | 3,391 | 3,439 |
| Operating income | 2,171 | 2,042 | 2,675 | – | – |
| Interest expense | 121 | 167 | 247 | 241 | 241 |
| Pre-tax income | 1,815 | 1,355 | 1,690 | 1,852 | 2,045 |
| Income tax | 374 | 320 | 428 | 475 | 458 |
| Net income | 1,439 | 1,026 | 1,270 | 1,116 | 1,576 |
| Diluted EPS | $6.01 | $4.32 | $5.35 | $4.75 | $6.94 |
| Diluted shares (millions) | 239 | 237 | 237 | 235 | 227 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
Not computed: a required balance-sheet item is missing.
6/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Jun 30, 2026 · Data updated Apr 29, 2026