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., consolidated balance sheet: assets (quarterly data)
US$ in thousands
Based on: 10-Q (reporting date: 2026-03-31), 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).
Total assets exhibited a consistent upward trajectory over the analyzed period, growing from 20.44 billion US dollars in March 2021 to 26.38 billion US dollars by March 2026. This overall growth is primarily attributed to a substantial expansion in long-term assets and a moderate increase in current assets.
- Current Asset Dynamics
- Current assets rose from 5.11 billion US dollars to 6.50 billion US dollars. This increase was largely driven by accounts receivable, which climbed from 2.41 billion US dollars to 3.19 billion US dollars, suggesting a growth in credit sales or extended collection cycles. Inventories showed an initial growth phase, peaking at 2.71 billion US dollars in March 2023 before stabilizing between 2.27 billion and 2.52 billion US dollars in subsequent periods. Cash and cash equivalents remained volatile throughout the period, fluctuating between a low of 130.5 million US dollars in September 2022 and a peak of 503.4 million US dollars in September 2023, indicating active short-term liquidity management.
- Long-term Asset Expansion
- Long-term assets grew from 15.33 billion US dollars to 19.88 billion US dollars. The most significant driver of this growth was Property, Plant, and Equipment (PP&E), net, which more than doubled from 1.78 billion US dollars in March 2021 to 4.21 billion US dollars in March 2026. This trend indicates an aggressive capital expenditure strategy focused on physical infrastructure. Goodwill also saw a steady increase from 7.01 billion US dollars to 8.00 billion US dollars, reflecting strategic acquisitions over the five-year span.
- Intangible and Other Assets
- Intangible assets experienced a general decline, moving from 4.21 billion US dollars to 3.89 billion US dollars, which is consistent with the amortization of these assets over time. Operating lease right-of-use assets showed a slow but steady increase from 1.73 billion US dollars to 2.01 billion US dollars. Other assets remained relatively stable for much of the period but exhibited a notable outlier in September 2025, spiking to 2.90 billion US dollars before returning to a baseline of approximately 1.78 billion US dollars.
- Asset Composition and Structural Shifts
- The balance sheet structure shifted toward a heavier reliance on non-current assets. While current assets grew by approximately 27%, long-term assets grew by approximately 30%. The rapid growth in PP&E relative to other asset classes suggests a strategic pivot toward increasing operational capacity and fixed-asset investment.