Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Dividend Discount Model (DDM)
- Return on Equity (ROE) since 2005
- Current Ratio since 2005
- Total Asset Turnover since 2005
- Analysis of Debt
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Sherwin-Williams Co., consolidated cash flow statement (quarterly data)
US$ in thousands
Based on: 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), 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).
- Net Income
- Net income exhibited a fluctuating pattern with significant peaks and troughs over the periods. It climbed sharply in certain quarters, notably in Jun 2020, Sep 2020, Jun 2023, and Jun 2024. There were also notable declines, especially in Dec 2020, Dec 2021, Dec 2023, and Dec 2025, indicating variable profitability, possibly affected by seasonality or other operational factors.
- Depreciation and Amortization
- Depreciation remained relatively stable throughout the quarters, ranging mostly between 63,000 and 80,000 (US$ in thousands). Amortization of intangible assets also remained consistent, generally staying within the 75,000 to 84,000 range, showing steady non-cash expenses associated with asset depletion.
- Non-Cash Lease Expense
- Non-cash lease expenses trended upward gradually, increasing from roughly 88,000 to nearly 140,000 over the entire period, indicating growing lease liabilities or modifications in lease accounting.
- Gains and Losses on Divestiture and Asset Sales
- There were episodic gains and losses recorded, with substantial gain of 111,900 in Dec 2020 and losses at various points such as Sep 2023 and Dec 2024. These fluctuations suggest occasional asset disposals or strategic divestments impacting reported results.
- Impairment and Restructuring Provisions
- Impairment charges were sporadic but significant when they occurred, notably in Dec 2020 and Jun 2022, indicating occasional write-downs of assets. Provisions for restructuring were concentrated in a few quarters without consistent recurrence, reflecting specific operational restructuring events.
- Stock-Based Compensation
- Stock-based compensation expenses saw variability, generally ranging from 13,500 to 55,500, with notable increases in the later periods, particularly during 2023 and 2025, possibly reflecting changes in incentive structures or increased equity awards.
- Changes in Working Capital
- Net changes in working capital accounts showed significant volatility with large positive and negative shifts. Steep declines were apparent in Mar 2021, Mar 2023, and Mar 2025, while improvements were observed in Jun 2020, Sep 2020, and Dec 2023, signifying variable operational cash flow effects influenced by receivables, payables, and inventory changes.
- Operating Lease Liabilities
- Changes in operating lease liabilities increased steadily over the timeframe, reflecting rising lease-related obligations or adjustments in lease liabilities under accounting standards.
- Net Operating Cash
- Net operating cash generation displayed considerable fluctuation, with several quarters of strong inflows exceeding one million (US$ in thousands), notably in Jun 2020, Sep 2020, Jun 2023, and Jun 2024. Some quarters showed negative or minimal cash flows, indicating uneven cash conversion from operations.
- Capital Expenditures
- Capital expenditures generally increased over time, especially post-2021, reaching peaks around 300,000 to 320,000, showing intensified investment in property, plant, or equipment.
- Investing Activities
- Net investing cash flows were predominantly negative throughout, reflecting substantial outflows for acquisitions and capital expenditures. Occasional proceeds from asset sales or divestitures provided partial offsets but were insufficient to counterbalance outflows.
- Financing Activities
- Financing cash flows exhibited pronounced volatility. Large inflows from short-term and long-term debt issuances occurred, balanced by significant repayments and treasury stock purchases. Dividend payments were consistent, gradually increasing over the timeline. Repurchases of treasury stock remained substantial and frequent, highlighting a focus on shareholder return through buybacks.
- Cash and Cash Equivalents
- Net changes in cash and equivalents varied with alternating quarters of increase and decrease, aligning with the variability seen in operating, investing, and financing cash flows. This suggests active cash management practices responding to operational and strategic funding needs.