Stock Analysis on Net

Sherwin-Williams Co. (NYSE:SHW)

$24.99

Total Asset Turnover
since 2005

Microsoft Excel

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Calculation

Sherwin-Williams Co., total asset turnover, long-term trends, calculation

Microsoft Excel

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


The financial data reveals several notable trends over the analyzed periods. Net sales exhibited a general upward trajectory, increasing substantially from approximately 7.19 billion US dollars in 2005 to over 23 billion US dollars by 2024. This growth was relatively steady with minor fluctuations, indicating increasing revenue generation capacity over time. The most pronounced acceleration in net sales occurred between 2016 and 2019, where it rose from around 11.85 billion to nearly 18 billion US dollars, reflecting a period of significant expansion.

Total assets also showed an overall upward trend, moving from roughly 4.37 billion US dollars in 2005 to approximately 23.63 billion US dollars in 2024. There were periods of relative stability and occasional declines, such as between 2013 and 2016, where assets decreased to around 5.7 billion before sharply increasing to nearly 20 billion in 2017. This sudden surge likely reflects asset acquisitions or revaluations that substantially changed the asset base. Following this abrupt increase, total assets grew at a more moderate pace through 2024.

The total asset turnover ratio, which measures the efficiency of asset use in generating sales, exhibited meaningful variability. Initially, it fluctuated between 1.5 and 1.95 from 2005 to 2014, indicating a relatively efficient utilization of assets. However, from 2015 onward, the ratio declined sharply to 0.75 in 2017, coinciding with the large asset base increase, and then gradually recovered to near 1.0 by 2023 and 2024. This pattern suggests that asset growth outpaced sales growth during the mid-to-late 2010s, reducing efficiency temporarily, followed by improved utilization of assets in recent years as sales growth resumed momentum relative to asset size.

Overall, the data depicts strong sales growth accompanied by significant asset expansion. The temporary dip in asset turnover efficiency suggests phases of investment or acquisition that initially diminished asset productivity but were later offset by improved operational performance. This could be indicative of strategic asset deployments aimed at fostering long-term revenue growth.

Net Sales
Consistent upward trend from 7.19 billion in 2005 to over 23 billion US dollars in 2024, with accelerated growth between 2016 and 2019.
Total Assets
Steady increase overall from 4.37 billion to 23.63 billion US dollars, with a notable surge between 2016 and 2017 suggesting asset acquisitions or revaluations.
Total Asset Turnover Ratio
Varied between 1.5 and 1.95 in early years, declined sharply to 0.75 in 2017 amid asset base expansion, then improved towards 1.0 by 2024, reflecting temporary inefficiencies followed by enhanced asset utilization.

Comparison to Competitors


Comparison to Sector (Chemicals)


Comparison to Industry (Materials)