Total Asset Turnover
since 2005
Calculation
Sherwin-Williams Co., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Net sales1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2025 | 0.91 | = | 23,574,300) | ÷ | 25,901,700) |
| Dec 31, 2024 | 0.98 | = | 23,098,500) | ÷ | 23,632,600) |
| Dec 31, 2023 | 1.00 | = | 23,051,900) | ÷ | 22,954,400) |
| Dec 31, 2022 | 0.98 | = | 22,148,900) | ÷ | 22,594,000) |
| Dec 31, 2021 | 0.97 | = | 19,944,600) | ÷ | 20,666,700) |
| Dec 31, 2020 | 0.90 | = | 18,361,700) | ÷ | 20,401,600) |
| Dec 31, 2019 | 0.87 | = | 17,900,800) | ÷ | 20,496,200) |
| Dec 31, 2018 | 0.92 | = | 17,534,493) | ÷ | 19,134,279) |
| Dec 31, 2017 | 0.75 | = | 14,983,788) | ÷ | 19,958,427) |
| Dec 31, 2016 | 1.76 | = | 11,855,602) | ÷ | 6,752,521) |
| Dec 31, 2015 | 1.96 | = | 11,339,304) | ÷ | 5,791,855) |
| Dec 31, 2014 | 1.95 | = | 11,129,533) | ÷ | 5,706,052) |
| Dec 31, 2013 | 1.60 | = | 10,185,532) | ÷ | 6,382,507) |
| Dec 31, 2012 | 1.53 | = | 9,534,462) | ÷ | 6,234,737) |
| Dec 31, 2011 | 1.68 | = | 8,765,699) | ÷ | 5,229,252) |
| Dec 31, 2010 | 1.50 | = | 7,776,424) | ÷ | 5,169,235) |
| Dec 31, 2009 | 1.64 | = | 7,094,249) | ÷ | 4,323,855) |
| Dec 31, 2008 | 1.81 | = | 7,979,727) | ÷ | 4,415,759) |
| Dec 31, 2007 | 1.65 | = | 8,005,292) | ÷ | 4,855,340) |
| Dec 31, 2006 | 1.56 | = | 7,809,759) | ÷ | 4,995,087) |
| Dec 31, 2005 | 1.65 | = | 7,190,661) | ÷ | 4,369,195) |
Based on: 10-K (reporting date: 2025-12-31), 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
The total asset turnover ratio exhibited fluctuating behavior between 2005 and 2025. Initially, the ratio demonstrated relative stability, followed by a period of significant decline, and then a partial recovery. A detailed examination of the period reveals distinct phases in the company’s asset utilization efficiency.
- Initial Stability & Fluctuations (2005-2009)
- From 2005 to 2009, the total asset turnover ratio ranged between 1.50 and 1.81. It began at 1.65 in 2005, decreased to 1.56 in 2006, increased again to 1.65 in 2007, peaked at 1.81 in 2008, and then decreased to 1.64 in 2009. This period suggests a generally efficient use of assets, with minor variations likely attributable to changes in sales volume and asset base.
- Decline & Stabilization (2010-2017)
- The period between 2010 and 2017 witnessed a gradual decline in the ratio, starting at 1.50 in 2010 and reaching a low of 0.75 in 2017. While there were minor fluctuations, the overall trend was downward. This suggests a decreasing efficiency in utilizing assets to generate sales. The ratio stabilized around the 1.96 level in 2015 before the sharp decline.
- Significant Decline & Recovery Attempt (2018-2025)
- From 2018 to 2025, the ratio remained subdued, fluctuating between 0.75 and 1.00. It began at 0.92 in 2018, reached 0.98 in 2020, and ended at 0.91 in 2025. The substantial decrease in 2017 and subsequent low values indicate a significant increase in assets relative to sales. While there was a slight recovery towards the end of the period, the ratio did not return to levels observed before 2010. The ratio reached parity at 1.00 in 2022.
The substantial drop in asset turnover beginning in 2017 coincides with a significant increase in total assets, as evidenced by the provided figures. This suggests that the company may have invested heavily in assets without a corresponding proportional increase in sales. The subsequent years demonstrate an attempt to improve asset utilization, but the ratio has not fully recovered to its earlier levels. Further investigation into the nature of these asset investments and the reasons for the sales performance would be necessary to fully understand these trends.
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Comparison to Competitors
Sherwin-Williams Co., total asset turnover, long-term trends, comparison to competitors
| Sherwin-Williams Co. | Linde plc | |
|---|---|---|
| Dec 31, 2025 | 0.91 | 0.39 |
| Dec 31, 2024 | 0.98 | 0.41 |
| Dec 31, 2023 | 1.00 | 0.41 |
| Dec 31, 2022 | 0.98 | 0.42 |
| Dec 31, 2021 | 0.97 | 0.38 |
| Dec 31, 2020 | 0.90 | 0.31 |
| Dec 31, 2019 | 0.87 | 0.33 |
| Dec 31, 2018 | 0.92 | 0.16 |
| Dec 31, 2017 | 0.75 | 0.56 |
| Dec 31, 2016 | 1.76 | 0.54 |
| Dec 31, 2015 | 1.96 | 0.59 |
| Dec 31, 2014 | 1.95 | 0.62 |
| Dec 31, 2013 | 1.60 | 0.59 |
| Dec 31, 2012 | 1.53 | 0.62 |
| Dec 31, 2011 | 1.68 | 0.69 |
| Dec 31, 2010 | 1.50 | 0.66 |
| Dec 31, 2009 | 1.64 | 0.63 |
| Dec 31, 2008 | 1.81 | 0.83 |
| Dec 31, 2007 | 1.65 | 0.70 |
| Dec 31, 2006 | 1.56 | 0.75 |
| Dec 31, 2005 | 1.65 | 0.73 |
Based on: 10-K (reporting date: 2025-12-31), 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., total asset turnover, long-term trends, comparison to sector (chemicals)
| Sherwin-Williams Co. | Chemicals | |
|---|---|---|
| Dec 31, 2025 | 0.91 | 0.51 |
| Dec 31, 2024 | 0.98 | 0.54 |
| Dec 31, 2023 | 1.00 | 0.54 |
| Dec 31, 2022 | 0.98 | 0.54 |
| Dec 31, 2021 | 0.97 | 0.50 |
| Dec 31, 2020 | 0.90 | 0.42 |
| Dec 31, 2019 | 0.87 | 0.43 |
| Dec 31, 2018 | 0.92 | 0.29 |
| Dec 31, 2017 | 0.75 | 0.65 |
| Dec 31, 2016 | 1.76 | 0.86 |
| Dec 31, 2015 | 1.96 | 0.92 |
| Dec 31, 2014 | 1.95 | 0.92 |
| Dec 31, 2013 | 1.60 | 0.83 |
| Dec 31, 2012 | 1.53 | 0.85 |
| Dec 31, 2011 | 1.68 | 0.93 |
| Dec 31, 2010 | 1.50 | 0.88 |
| Dec 31, 2009 | 1.64 | 0.86 |
| Dec 31, 2008 | 1.81 | 1.07 |
| Dec 31, 2007 | 1.65 | 0.95 |
| Dec 31, 2006 | 1.56 | 1.00 |
| Dec 31, 2005 | 1.65 | 1.00 |
Based on: 10-K (reporting date: 2025-12-31), 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., total asset turnover, long-term trends, comparison to industry (materials)
| Sherwin-Williams Co. | Materials | |
|---|---|---|
| Dec 31, 2025 | 0.91 | 0.49 |
| Dec 31, 2024 | 0.98 | 0.51 |
| Dec 31, 2023 | 1.00 | 0.50 |
| Dec 31, 2022 | 0.98 | 0.51 |
| Dec 31, 2021 | 0.97 | 0.49 |
| Dec 31, 2020 | 0.90 | 0.40 |
| Dec 31, 2019 | 0.87 | 0.41 |
| Dec 31, 2018 | 0.92 | 0.33 |
| Dec 31, 2017 | 0.75 | 0.55 |
| Dec 31, 2016 | 1.76 | 0.59 |
| Dec 31, 2015 | 1.96 | 0.54 |
| Dec 31, 2014 | 1.95 | 0.53 |
| Dec 31, 2013 | 1.60 | 0.48 |
| Dec 31, 2012 | 1.53 | 0.65 |
| Dec 31, 2011 | 1.68 | 0.76 |
| Dec 31, 2010 | 1.50 | 0.74 |
| Dec 31, 2009 | 1.64 | 0.70 |
| Dec 31, 2008 | 1.81 | 0.90 |
| Dec 31, 2007 | 1.65 | 0.58 |
| Dec 31, 2006 | 1.56 | 1.02 |
| Dec 31, 2005 | 1.65 | 0.93 |
Based on: 10-K (reporting date: 2025-12-31), 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).