Loading…
PPG Industries, Inc. manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through three segments: Global Architectural Coatings, Performance Coatings, and Industrial Coatings. The Global Architectural Coatings segment supplies a variety of decorative coatings, adhesives, sealants, and finishes, as well as paint strippers, stains, and related chemicals. Its Performance Coatings segment offers aerospace coatings, automotive refinishing coatings, protective and marine coatings, and traffic solutions comprising paints, thermoplastics, raised pavement markers, and other technologies for pavement marking. The Industrial Coatings segment provides automotive OEM coatings, industrial coatings, and packaging coatings, as well as specialty products, such as optical monomers and coatings, low-friction coatings, and other specialty products. The company delivers its products to company-owned stores, home centers and other consumer retail outlets, paint dealers, concessionaires and independent distributors, company-owned distribution networks, and directly to manufacturing companies and retail customers. PPG Industries, Inc. was incorporated in 1883 and is headquartered in Pittsburgh, Pennsylvania.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $15.9B | $2.8B | $1.6B | $1.2B | 19.8% | 0.2% | 41.2% |
| 2024 | $15.8B | $2.6B | $1.1B | $699M | 16.4% | -2.4% | -12.1% |
| 2023 | $16.2B | $2.5B | $1.3B | $1.9B | 16.2% | 4.0% | 23.8% |
| 2022 | $15.6B | $2.0B | $1.0B | $477M | 15.6% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 15,614 | 16,242 | 15,845 | 15,875 |
| Operating Revenue | - | 15,614 | 16,242 | 15,845 | 15,875 |
| Cost Of Revenue | - | 9,975 | 9,678 | 9,252 | 9,316 |
| Gross Profit | - | 5,639 | 6,564 | 6,593 | 6,559 |
| Operating Expense | - | 3,973 | 4,529 | 4,306 | 4,390 |
| Research And Development | - | 434 | 424 | 423 | 423 |
| Selling General And Administration | - | 3,037 | 3,591 | 3,391 | 3,439 |
| Total Expenses | - | 13,948 | 14,207 | 13,558 | 13,706 |
| Operating Income | - | 1,666 | 2,035 | 2,287 | 2,169 |
| EBITDA | - | 2,024 | 2,451 | 2,585 | 2,814 |
| Normalized EBITDA | - | 2,284 | 2,616 | 2,941 | 2,808 |
| EBIT | - | 1,522 | 1,937 | 2,093 | 2,286 |
| Interest Income | - | 54 | 140 | 177 | 153 |
| Interest Expense | - | 167 | 247 | 241 | 241 |
| Net Interest Income | - | -113 | -107 | -64 | -88 |
| Other Non Operating Income Expenses | - | 37 | -94 | -35 | -61 |
| Other Income Expense | - | -198 | -238 | -371 | -36 |
| Interest Income Non Operating | - | 54 | 140 | 177 | 153 |
| Interest Expense Non Operating | - | 167 | 247 | 241 | 241 |
| Net Non Operating Interest Income Expense | - | -113 | -107 | -64 | -88 |
| Pretax Income | - | 1,355 | 1,690 | 1,852 | 2,045 |
| Tax Provision | - | 320 | 428 | 475 | 458 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -61.36 | -41.74 | -91.31 | 1.34 |
| Net Income Continuous Operations | - | 1,035 | 1,262 | 1,377 | 1,587 |
| Net Income From Continuing And Discontinued Operation | - | 1,026 | 1,270 | 1,116 | 1,576 |
| Net Income From Continuing Operation Net Minority Interest | - | 1,007 | 1,223 | 1,344 | 1,571 |
| Net Income | - | 1,026 | 1,270 | 1,116 | 1,576 |
| Net Income Common Stockholders | - | 1,026 | 1,270 | 1,116 | 1,576 |
| Net Income Including Noncontrolling Interests | - | 1,054 | 1,309 | 1,149 | 1,592 |
| Normalized Income | - | 1,205.64 | 1,346.26 | 1,608.69 | 1,566.34 |
| Diluted NI Availto Com Stockholders | - | 1,026 | 1,270 | 1,116 | 1,576 |
| Basic Average Shares | - | 236.10 | 236 | 233.80 | 226.30 |
| Diluted Average Shares | - | 237.30 | 237.20 | 234.90 | 227.10 |
| Reconciled Depreciation | - | 502 | 514 | 492 | 528 |
| Reconciled Cost Of Revenue | - | 9,975 | 9,678 | 9,252 | 9,316 |
| Total Unusual Items | - | -260 | -165 | -356 | 6 |
| Total Unusual Items Excluding Goodwill | - | -260 | -165 | -356 | 6 |
| Minority Interests | - | -28 | -39 | -33 | -16 |
| Net Income Discontinuous Operations | - | 19 | 47 | -228 | 5 |
| Special Income Charges | - | -260 | -165 | -246 | 6 |
| Gain On Sale Of Business | - | 4 | -23 | 129 | 18 |
| Other Special Charges | -22 | - | -16 | -4 | -18 |
| Write Off | - | 231 | 160 | 146 | 24 |
| Restructuring And Mergern Acquisition | - | 33 | -2 | 233 | 6 |
| Gain On Sale Of Security | - | - | -20 | -110 | - |
| Depreciation Amortization Depletion Income Statement | - | 502 | 514 | 492 | 528 |
| Depreciation And Amortization In Income Statement | - | 502 | 514 | 492 | 528 |
| General And Administrative Expense | - | 3,037 | 3,591 | 3,391 | 3,439 |
| Other Gand A | - | 3,037 | 3,401 | 3,391 | 3,439 |
| Salaries And Wages | - | 0 | 190 | 0 | 0 |
| Gain On Sale Of Ppe | 44 | 4 | -23 | - | - |
| Other Operating Expenses | -8 | -8 | - | - | - |
| Earnings From Equity Interest | - | 25 | 21 | 20 | 19 |
| Amortization | - | 145 | 154 | 132 | 125 |
| Amortization Of Intangibles Income Statement | - | 145 | 154 | 132 | 125 |
| Depreciation Income Statement | - | 357 | 360 | 360 | 403 |
Basic Materials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| PPG Industries, Inc.this co. | PPG | $25.0B | 15.83↑ premium | 3.14 | 19.8% | 10.91 |
| Vulcan Materials Company | VMC | $36.7B | 34.11 | 4.31 | 12.6% | 17.57 |
| Martin Marietta Materials, Inc. | MLM | $34.9B | 30.68 | 3.48 | 11.3% | 19.36 |
| Dow Inc. | DOW | $25.1B | -9.56 | 1.57 | -16.4% | 34.39 |
| LyondellBasell Industries N.V. | LYB | $21.4B |
| - |
| - |
| - |
| - |
| - |
| - |
| 2.12 |
| -7.5% |
| 28.02 |
| Albemarle Corporation | ALB | $19.5B | - | 2.05 | -7.1% | 67.51 |
| DuPont de Nemours, Inc. | DD | $19.3B | -24.78 | 1.39 | -5.6% | 18.78 |
| International Flavors & Fragrances Inc. | IFF | $18.7B | - | 1.32 | -2.6% | 31.74 |
| CF Industries Holdings, Inc. | CF | $18.1B | 12.41 | 3.73 | 30.1% | 6.01 |
| Peer Median | - | 12.41 | 2.08 | -4.1% | 23.69 | |