Balance Sheet: Assets
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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Sherwin-Williams Co. pages available for free this week:
- 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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Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 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).
Overall, total assets exhibited a general upward trend throughout the observed period, though with some quarterly fluctuations. The most significant growth occurred between the end of 2021 and the end of 2025. A closer examination of the asset components reveals varying patterns.
- Cash and Cash Equivalents
- Cash and cash equivalents demonstrated considerable volatility. After starting at approximately US$314.7 million in March 2021, the balance decreased to a low of US$130.5 million by September 2022, before increasing again, peaking at US$503.4 million in September 2023. The balance then decreased to US$207.2 million by December 2025. This suggests active cash management or significant operational or investment activities impacting cash flow.
- Accounts Receivable, Net
- Accounts receivable generally increased from US$2.414 billion in March 2021 to US$3.122 billion in September 2025. There were some quarterly declines, notably between September 2022 and December 2022, and again between September 2023 and December 2023, but the overall trend is positive. This increase could indicate growing sales or changes in credit terms offered to customers.
- Inventories
- Inventory levels showed a consistent increase from US$1.847 billion in March 2021 to US$2.318 billion in December 2025. The growth was relatively steady, with some minor fluctuations. This increase may reflect anticipated demand, supply chain considerations, or changes in inventory management strategies.
- Other Current Assets
- Other current assets experienced moderate fluctuations, generally ranging between US$518.8 million and US$690.8 million. A notable increase occurred in the final quarter of the observed period, reaching US$690.8 million in December 2025. The composition of these assets would require further investigation to understand the drivers of these changes.
- Current Assets
- Total current assets increased from US$5.110 billion in March 2021 to US$6.007 billion in December 2025. The growth was not linear, with periods of faster and slower expansion, mirroring the trends observed in its components.
- Property, Plant and Equipment, Net
- Net property, plant, and equipment exhibited a consistent upward trend, increasing from US$1.780 billion in March 2021 to US$4.137 billion in December 2025. This substantial growth suggests significant investment in long-term productive assets.
- Goodwill
- Goodwill remained relatively stable between US$6.996 billion and US$8.037 billion throughout the period. A slight increase was observed towards the end of the period, reaching US$8.037 billion in December 2025. This suggests limited acquisition activity impacting goodwill during the observed timeframe.
- Intangible Assets
- Intangible assets decreased from US$4.210 billion in March 2021 to US$3.966 billion in December 2025. This decline could be due to amortization or impairment of intangible assets.
- Operating Lease Right-of-Use Assets
- Operating lease right-of-use assets showed a gradual increase from US$1.729 billion in March 2021 to US$1.995 billion in December 2025, indicating a consistent level of leasing activity.
- Other Assets & Long-Term Assets
- Other assets increased significantly from US$594.9 million in March 2021 to US$1.759 million in December 2025. Long-term assets, encompassing the aforementioned components, increased substantially from US$15.325 billion to US$19.894 billion over the same period. This growth is primarily driven by the increase in property, plant, and equipment, net, and the increase in other assets.