Sherwin-Williams

Sherwin-Williams makes and sells paint, coatings and related products to professional, industrial, commercial and retail customers. It was founded in 1866. Its brands include Sherwin-Williams, Valspar, HGTV HOME by Sherwin-Williams, Dutch Boy, Krylon, Minwax, Cabot and Suvinil. It has three segments.

The Paint Stores Group sells Sherwin-Williams products only through more than 5,400 company-operated stores and branches, and it gave $10.96 billion of the $19.32 billion of net sales in the first nine months of 2026. The Consumer Brands Group sells other brands through home centers, mass merchants and dealers. The Performance Coatings Group supplies coatings for construction, industrial, packaging and transportation customers in more than 120 countries. Net sales were $23.57 billion in 2025.

The head office is in Cleveland, Ohio, and Heidi G. Petz is its chair, president and chief executive officer.

Sherwin-Williams trades at a premium because investors pay for its network of more than 5,400 stores, its strong position with professional painters and a long record of growth in earnings and dividends. In 2025, it raised its dividend for the 47th year in a row. But demand is weak: the company says that its leading indicators point to muted demand for the rest of 2026 and into 2027, and adjusted diluted EPS rose only 1.1% in Q3 2026, to $3.63.

Gross margin fell to 47.8% from 49.2% because of higher raw material and supply chain costs and the mix of Suvinil, which it bought in Brazil in October 2025. For the premium to be earned, three things must be true. The Paint Stores Group must keep winning customers while market volumes stay low; its same-store sales rose 3.9% in Q3 2026.

Price increases and cost actions must protect the gross margin against inflation. Adjusted diluted EPS must reach the 2026 guidance of $11.85 to $12.15, and the 2027 guidance, expected with the Q4 2026 report in late January 2027, must show growth. If housing and repaint demand stay weak through 2027, the premium can shrink.

1. Oct 27, 2026Passed

   Q3 2026 results and 2026 guidanceAdjusted EPS above a year earlier and kept 2026 guidance pass; lower guidance fails.Outcome: Adjusted diluted EPS rose 1.1% to $3.63, and the company narrowed its 2026 guidance to $11.85 to $12.15 with the same midpoint.
2. Jan 28, 2027 · est.Pending

   Q4 2026 results and 2027 guidance2026 adjusted EPS within $11.85 to $12.15 and 2027 guidance above it pass; flat or lower 2027 guidance fails.
3. Apr 2027 · est.Pending

   Q1 2027 results: volumes and gross marginPositive Paint Stores Group same-store sales and a stable gross margin pass; falling sales or margin fail.

Every passed and failed checkpoint across all picks

• November 2, 2026Sherwin-Williams added $75 million of commitments to its revolving credit agreement of November 2025. The new commitments mature on December 20, 2031.
• October 27, 2026Sherwin-Williams reported Q3 2026 results. Net sales rose 7.9% to $6.86 billion, and Paint Stores Group same-store sales rose 3.9%. Diluted EPS was $3.38 and adjusted diluted EPS was $3.63, up 1.1%. Gross margin fell to 47.8% from 49.2%. The company narrowed its 2026 adjusted diluted EPS guidance to $11.85 to $12.15 from $11.80 to $12.20, and it said that leading indicators point to muted demand into 2027. It returned $749.0 million to shareholders in the quarter.
• September 24, 2026Sherwin-Williams took a new $750 million 364-day term loan that matures on September 23, 2027, and a EUR 100 million term loan. It used them to repay and end its delayed draw term loan of August 2025.

Last earnings

October 27, 2026 (8-K on sec.gov)

Next earnings

Expected about January 28, 2027. The company has not confirmed the date.

• 8-KNew material agreement and New debt or financial obligationFiled November 2, 2026 · Read it on sec.gov
• 10-QQuarterly report for the period ended Sep 30, 2026Filed October 27, 2026 · shw-20260930
• 8-KEarnings releaseFiled October 27, 2026 · shw-20261027
• 8-KNew material agreement and End of a material agreementFiled September 29, 2026 · Read it on sec.gov
• 10-QQuarterly report for the period ended Jun 30, 2026Filed July 28, 2026 · shw-20260630
• 8-KEarnings releaseFiled July 28, 2026 · shw-20260728
• 8-KNew material agreement and New debt or financial obligationFiled June 9, 2026 · Read it on sec.gov
• 10-QQuarterly report for the period ended Mar 31, 2026Filed April 28, 2026 · shw-20260331
• 8-KEarnings releaseFiled April 28, 2026 · shw-20260428
• 8-KShareholder vote resultsFiled April 24, 2026 · shw-20260422

Every filing on SEC EDGAR (CIK 89800)

• Demand depends on housing, repaint and construction activity. The company expects muted demand into 2027, and weak volumes can stop earnings growth.
• Raw material and supply chain costs rose in 2026. Gross margin fell to 47.8% in Q3 2026 from 49.2% a year earlier, and price increases may not cover more inflation.
• Debt rose to $11.80 billion at September 30, 2026, and $3.85 billion of it is short-term or due within one year. Shareholders' equity was only $3.98 billion after large buybacks, so higher interest rates raise costs quickly.
• The Consumer Brands Group depends on large retail customers and on soft do-it-yourself demand in North America. Its adjusted segment margin fell to 18.3% in Q3 2026 from 23.3%.
• Suvinil and other businesses outside the United States add exposure to Brazil and to changes in currency rates.

Sherwin-Williams funds itself with senior notes, commercial paper and bank term loans. Total debt was $11.80 billion at September 30, 2026: $2.35 billion of short-term borrowings, $1.50 billion of long-term debt due within one year and $7.94 billion of other long-term debt. Read more

Dividend yield

0.9% (last 12 months, at today’s price of $357.93)

Paid per share

$3.19 in the last 12 months (4 payments)

Current annual rate

$3.20 ($0.80 × 4 a year)

Payout ratio

31% of the last fiscal year’s earnings (the year that ended December 31, 2025)

Latest ex-dividend date

August 21, 2026, $0.80 per share

Dividends per share by year

Over the last 5 years, the dividend grew by about 8.8% a year.

Source: company filings and market data, read on November 10, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.