Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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- Statement of Comprehensive Income
- Cash Flow Statement
- Common-Size Income Statement
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value (EV)
- Enterprise Value to FCFF (EV/FCFF)
- Dividend Discount Model (DDM)
- Debt to Equity since 2005
- Price to Sales (P/S) since 2005
- Analysis of Debt
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Sherwin-Williams Co., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Current liabilities
- Current liabilities as a percentage of total liabilities and shareholders’ equity fluctuated between approximately 20.9% and 32.6% over the periods. Notably, there was an upward trend from early 2021 through mid-2022, peaking around 32.6%, followed by some stabilization and slight decreases thereafter.
- Short-term borrowings
- Short-term borrowings exhibited volatility, with initial low points near 0% mid-2020 and notable increases in some quarters such as March 2022 (8.01%) and March 2025 (7.3%). The pattern indicates intermittent use of short-term debt financing, without a consistent upward or downward trend.
- Accounts payable
- Accounts payable steadily increased from around 9.5% in early 2020 to a peak near 13.6% by mid-2022, then marginally declined and stabilized near 10-11%. This reflects a general growth in supplier obligations during the mid-periods, followed by normalization.
- Compensation and taxes withheld
- This component remained mostly stable, fluctuating moderately between roughly 2.1% and 3.7%. Although some quarters saw slight increases, the overall range was fairly narrow over the examined periods.
- Accrued taxes
- Accrued taxes showed variability with some quarters increasing above 1.4%, but mostly staying below 1%, reflecting fluctuations in tax liabilities relative to total liabilities and equity, but no clear upward or downward trend.
- Current portion of long-term debt
- There was a notable rise from near zero in mid-2020 to peaks exceeding 5% by early 2024, with some variation. This suggests an increasing amount of long-term debt maturing within the year came due, especially from late 2022 onward.
- Current portion of operating lease liabilities
- This measure was remarkably stable, hovering close to 1.8-2.0% throughout the entire period, indicating consistent lease obligations in the short term without material changes.
- Other accruals
- Other accruals varied modestly between roughly 4.2% and 5.8%, with some upward movement towards the latter periods, potentially signalling slightly increased accrued expenses aside from taxes and compensation.
- Long-term debt, excluding current portion
- This component fluctuated between approximately 31.8% and 43.1%, showing a tendency toward a gradual reduction over time from the higher levels in 2020-2022 toward the lower end by 2025, indicating a de-leveraging or repayment trend of long-term debt.
- Postretirement benefits other than pensions
- A declining trend was apparent, decreasing from about 1.3% in 2020 to below 0.5% by 2025. This points to a reduction in the relative size of these obligations in the company's capital structure.
- Deferred income taxes
- Deferred income taxes steadily decreased from over 4.6% in early 2020 down to under 2.4% by 2025, indicating diminishing deferred tax liabilities relative to total liabilities and equity.
- Long-term operating lease liabilities, excluding current portion
- Lease liabilities remained quite stable between 6.2% and 7.1% throughout the period, showing a consistent level of long-term lease commitments.
- Other long-term liabilities
- There was a clear upward trend from approximately 5.8% in early 2020 to over 10.2% by 2025, suggesting an increase in other long-term obligations, possibly reflecting new liabilities or increased accruals in other categories.
- Total liabilities
- Total liabilities as a share of total liabilities and shareholders’ equity fluctuated mostly between 79.8% and 89.9%, with peaks around 89.9% in mid-2022 and troughs near 79.8% in late 2020. The overall pattern indicates a relatively stable but slightly fluctuating leverage level.
- Shareholders’ equity components
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- Common stock
- Common stock remained nearly constant at roughly 0.38%-0.59%, reflecting no material change in the par value or number of shares outstanding.
- Other capital
- Other capital showed a slight increase from approximately 15.6% in early 2020 to highs around 19.4% by early 2025, implying increased additional paid-in capital or related equity reserves.
- Retained earnings
- Retained earnings increased significantly from about 4.1% in late 2020 to over 30.6% by early 2025, reflecting accumulation of profits and reinvested earnings over time.
- Treasury stock
- The negative treasury stock balance widened substantially from near -0.5% in late 2020 to nearly -30% by 2025, signaling extensive share repurchases reducing equity.
- Accumulated other comprehensive loss
- This component varied between approximately -4.4% and -2.9%, with no consistent directional trend, indicating fluctuations in unrealized gains/losses or other comprehensive income items.
- Total shareholders’ equity
- Shareholders’ equity experienced some volatility from approximately 17.7% in late 2020 to a low near 10.1% in early 2022, followed by a recovery to nearly 17.3% by early 2025. This reflects the combined effects of earnings retention, treasury stock activity, and other equity changes.