Stock Analysis on Net
Stock Analysis on Net

Sherwin-Williams Co. (NYSE:SHW)

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Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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Sherwin-Williams Co., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Short-term borrowings
Accounts payable
Compensation and taxes withheld
Accrued taxes
Current portion of long-term debt
Current portion of operating lease liabilities
Other accruals
Current liabilities
Long-term debt, excluding current portion
Postretirement benefits other than pensions
Deferred income taxes
Long-term operating lease liabilities, excluding current portion
Other long-term liabilities
Long-term liabilities
Total liabilities
Common stock, $0.33-1/3 par value
Other capital
Retained earnings
Treasury stock, at cost
Accumulated other comprehensive loss
Shareholders’ equity
Total liabilities and shareholders’ equity

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
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.