Return on Assets (ROA)
since 2005
Calculation
Sherwin-Williams Co., ROA, long-term trends, calculation
| ROA | = | 100 | × | Net income1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2024 | 11.35% | = | 100 | × | 2,681,400) | ÷ | 23,632,600) |
| Dec 31, 2023 | 10.41% | = | 100 | × | 2,388,800) | ÷ | 22,954,400) |
| Dec 31, 2022 | 8.94% | = | 100 | × | 2,020,100) | ÷ | 22,594,000) |
| Dec 31, 2021 | 9.02% | = | 100 | × | 1,864,400) | ÷ | 20,666,700) |
| Dec 31, 2020 | 9.95% | = | 100 | × | 2,030,400) | ÷ | 20,401,600) |
| Dec 31, 2019 | 7.52% | = | 100 | × | 1,541,300) | ÷ | 20,496,200) |
| Dec 31, 2018 | 5.79% | = | 100 | × | 1,108,746) | ÷ | 19,134,279) |
| Dec 31, 2017 | 8.88% | = | 100 | × | 1,772,262) | ÷ | 19,958,427) |
| Dec 31, 2016 | 16.77% | = | 100 | × | 1,132,703) | ÷ | 6,752,521) |
| Dec 31, 2015 | 18.20% | = | 100 | × | 1,053,849) | ÷ | 5,791,855) |
| Dec 31, 2014 | 15.17% | = | 100 | × | 865,887) | ÷ | 5,706,052) |
| Dec 31, 2013 | 11.79% | = | 100 | × | 752,561) | ÷ | 6,382,507) |
| Dec 31, 2012 | 10.12% | = | 100 | × | 631,034) | ÷ | 6,234,737) |
| Dec 31, 2011 | 8.45% | = | 100 | × | 441,860) | ÷ | 5,229,252) |
| Dec 31, 2010 | 8.95% | = | 100 | × | 462,485) | ÷ | 5,169,235) |
| Dec 31, 2009 | 10.08% | = | 100 | × | 435,848) | ÷ | 4,323,855) |
| Dec 31, 2008 | 10.80% | = | 100 | × | 476,876) | ÷ | 4,415,759) |
| Dec 31, 2007 | 12.68% | = | 100 | × | 615,578) | ÷ | 4,855,340) |
| Dec 31, 2006 | 11.53% | = | 100 | × | 576,058) | ÷ | 4,995,087) |
| Dec 31, 2005 | 10.60% | = | 100 | × | 463,258) | ÷ | 4,369,195) |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in thousands
- Net Income
- Net income exhibited an overall upward trend from 2005 through 2024, increasing from approximately 463 million USD to roughly 2.68 billion USD. Despite general growth, fluctuations were present, with notable dips occurring in 2008 and 2018, where net income decreased compared to the previous years. Recovery periods followed these declines, indicating resilience and growth capacity. The most substantial increase occurred between 2016 and 2017, where net income rose by more than 50%, signaling a period of significant profitability enhancement.
- Total Assets
- Total assets generally expanded over the time period, rising from roughly 4.37 billion USD in 2005 to about 23.63 billion USD in 2024. There was a steady growth with some volatility; for instance, a decrease was seen in 2007 to 2009, reflecting possible asset liquidation or valuation adjustments. A major uptick occurred in 2013, with assets nearly tripling by 2017, likely due to acquisitions or capital investments. Asset levels stabilized post-2017 with continued modest growth towards 2024.
- Return on Assets (ROA)
- ROA percentages showed variability. Early years (2005–2007) reflected strong performance with ROA peaking near 12.7%. A decline followed from 2008 to 2011, reaching a low around 8.45%. Subsequently, ROA improved, peaking at over 18% in 2014 and 2015, indicating high efficiency in asset utilization during these years. However, a significant decline occurred after 2015, dropping below 6% in 2018, which suggests a period of reduced profitability relative to assets. From 2019 onward, ROA gradually recovered to above 11% by 2024, indicating a return to more effective asset use in generating earnings.
- Summary of Financial Trends
- Overall, the data reveal a long-term growth in earnings and asset base with distinct periods of volatility. Profitability measured by ROA has been cyclical, with peaks and troughs that may correspond to economic cycles, market conditions, or operational changes. The substantial growth in total assets from 2013 to 2017 could be linked to strategic investments or acquisitions, which temporarily compressed asset return efficiency as seen in the declining ROA after 2015. More recently, both net income and ROA trends indicate a recovery and strengthening of asset profitability alongside continued asset base expansion.
Comparison to Competitors
Sherwin-Williams Co., ROA, long-term trends, comparison to competitors
| Sherwin-Williams Co. | Linde plc | |
|---|---|---|
| Dec 31, 2024 | 11.35% | 8.19% |
| Dec 31, 2023 | 10.41% | 7.67% |
| Dec 31, 2022 | 8.94% | 5.21% |
| Dec 31, 2021 | 9.02% | 4.69% |
| Dec 31, 2020 | 9.95% | 2.83% |
| Dec 31, 2019 | 7.52% | 2.64% |
| Dec 31, 2018 | 5.79% | 4.69% |
| Dec 31, 2017 | 8.88% | 6.10% |
| Dec 31, 2016 | 16.77% | 7.76% |
| Dec 31, 2015 | 18.20% | 8.44% |
| Dec 31, 2014 | 15.17% | 8.55% |
| Dec 31, 2013 | 11.79% | 8.66% |
| Dec 31, 2012 | 10.12% | 9.35% |
| Dec 31, 2011 | 8.45% | 10.22% |
| Dec 31, 2010 | 8.95% | 7.82% |
| Dec 31, 2009 | 10.08% | 8.76% |
| Dec 31, 2008 | 10.80% | 9.28% |
| Dec 31, 2007 | 12.68% | 8.80% |
| Dec 31, 2006 | 11.53% | 8.90% |
| Dec 31, 2005 | 10.60% | 6.92% |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Chemicals)
Sherwin-Williams Co., ROA, long-term trends, comparison to sector (chemicals)
| Sherwin-Williams Co. | Chemicals | |
|---|---|---|
| Dec 31, 2024 | 11.35% | 8.91% |
| Dec 31, 2023 | 10.41% | 8.28% |
| Dec 31, 2022 | 8.94% | 6.03% |
| Dec 31, 2021 | 9.02% | 5.56% |
| Dec 31, 2020 | 9.95% | 4.17% |
| Dec 31, 2019 | 7.52% | 3.57% |
| Dec 31, 2018 | 5.79% | 4.88% |
| Dec 31, 2017 | 8.88% | 7.47% |
| Dec 31, 2016 | 16.77% | 10.09% |
| Dec 31, 2015 | 18.20% | 10.79% |
| Dec 31, 2014 | 15.17% | 10.04% |
| Dec 31, 2013 | 11.79% | 9.41% |
| Dec 31, 2012 | 10.12% | 9.55% |
| Dec 31, 2011 | 8.45% | 9.79% |
| Dec 31, 2010 | 8.95% | 8.11% |
| Dec 31, 2009 | 10.08% | 9.07% |
| Dec 31, 2008 | 10.80% | 9.66% |
| Dec 31, 2007 | 12.68% | 9.83% |
| Dec 31, 2006 | 11.53% | 9.72% |
| Dec 31, 2005 | 10.60% | 8.00% |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Materials)
Sherwin-Williams Co., ROA, long-term trends, comparison to industry (materials)
| Sherwin-Williams Co. | Materials | |
|---|---|---|
| Dec 31, 2024 | 11.35% | 7.02% |
| Dec 31, 2023 | 10.41% | 6.68% |
| Dec 31, 2022 | 8.94% | 6.28% |
| Dec 31, 2021 | 9.02% | 6.65% |
| Dec 31, 2020 | 9.95% | 3.40% |
| Dec 31, 2019 | 7.52% | 2.43% |
| Dec 31, 2018 | 5.79% | 5.23% |
| Dec 31, 2017 | 8.88% | 6.22% |
| Dec 31, 2016 | 16.77% | -2.40% |
| Dec 31, 2015 | 18.20% | -13.63% |
| Dec 31, 2014 | 15.17% | 1.48% |
| Dec 31, 2013 | 11.79% | 5.73% |
| Dec 31, 2012 | 10.12% | 8.98% |
| Dec 31, 2011 | 8.45% | 12.44% |
| Dec 31, 2010 | 8.95% | 12.03% |
| Dec 31, 2009 | 10.08% | 9.94% |
| Dec 31, 2008 | 10.80% | -22.98% |
| Dec 31, 2007 | 12.68% | 8.10% |
| Dec 31, 2006 | 11.53% | 14.06% |
| Dec 31, 2005 | 10.60% | 10.70% |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).