Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
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- Income Statement
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- Enterprise Value (EV)
- Price to FCFE (P/FCFE)
- Present Value of Free Cash Flow to Equity (FCFE)
- Debt to Equity since 2005
- Total Asset Turnover since 2005
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Sherwin-Williams Co., common-size consolidated balance sheet: liabilities and stockholders’ equity
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
The composition of liabilities and shareholders’ equity experienced notable shifts between 2021 and 2025. Overall, the proportion of total liabilities decreased slightly over the period, while shareholders’ equity increased, though with significant volatility.
- Current Liabilities
- Current liabilities as a percentage of the total decreased from 27.67% in 2021 to 26.72% in 2025. Within this category, accounts payable exhibited a consistent, albeit modest, decline from 11.63% to 9.09%. Short-term borrowings showed more fluctuation, peaking at 4.33% in 2022 before decreasing to 4.63% in 2025. The current portion of long-term debt was largely absent between 2022 and 2024, increasing to 1.35% in 2025. Other accruals demonstrated a general upward trend, rising from 4.87% to 5.82%.
- Long-Term Liabilities
- Long-term liabilities decreased from 60.53% in 2021 to 55.53% in 2025. Long-term debt, excluding current portion, showed a consistent decline from 41.57% to 35.98%. Deferred income taxes also decreased, moving from 3.72% to 2.95%. Postretirement benefits other than pensions experienced a substantial decrease, falling from 1.26% to 0.50%. Other long-term liabilities increased steadily from 6.87% to 9.19%. The introduction of long-term finance lease liabilities in 2024, at 0.79% and 0.75% in 2025, represents a new component of the long-term liability structure.
- Shareholders’ Equity
- Shareholders’ equity increased from 11.79% in 2021 to 17.75% in 2025, although this increase was not linear. Retained earnings experienced the most significant change, rising dramatically from 10.27% to 30.66% in 2024 before falling sharply to 3.97% in 2025. Common stock remained relatively stable, decreasing slightly from 0.44% to 0.32%. Other capital decreased from 18.35% to 16.23%. Treasury stock, as a negative equity component, increased in magnitude from -13.89% to -29.57% in 2024, then decreased to -0.33% in 2025. Accumulated other comprehensive loss also decreased, moving from -3.38% to -2.45%.
The substantial fluctuation in retained earnings and treasury stock suggests significant activity related to share repurchases and/or dividend payouts, particularly impacting 2024. The overall decrease in total liabilities, coupled with the increase in shareholders’ equity, indicates a strengthening financial position, although the volatility within the equity components warrants further investigation.