Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
Profitability Ratios (Summary)
Sherwin-Williams Co., profitability ratios (quarterly data)
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
| Profitability ratio | Description | The company |
|---|---|---|
| Gross profit margin | Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. | Sherwin-Williams Co. gross profit margin ratio deteriorated from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022. |
| Operating profit margin | A profitability ratio calculated as operating income divided by revenue. | Sherwin-Williams Co. operating profit margin ratio deteriorated from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022. |
| Net profit margin | An indicator of profitability, calculated as net income divided by revenue. | Sherwin-Williams Co. net profit margin ratio deteriorated from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022. |
| Profitability ratio | Description | The company |
|---|---|---|
| ROE | A profitability ratio calculated as net income divided by shareholders’ equity. | Sherwin-Williams Co. ROE improved from Q4 2021 to Q1 2022 but then slightly deteriorated from Q1 2022 to Q2 2022 not reaching Q4 2021 level. |
| ROA | A profitability ratio calculated as net income divided by total assets. | Sherwin-Williams Co. ROA deteriorated from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022. |
Gross Profit Margin
Sherwin-Williams Co., gross profit margin calculation (quarterly data)
| Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||
| Gross profit | 2,449,000) | 2,052,900) | 1,879,700) | 2,139,600) | 2,411,400) | 2,112,000) | 2,128,700) | 2,455,300) | 2,208,900) | 1,889,700) | 1,894,034) | 2,225,554) | 2,181,435) | 1,735,077) | 1,682,683) | 2,010,404) | 2,038,628) | 1,686,847) | 1,798,739) | 1,902,142) | 1,737,056) | 1,343,274) | |||||||
| Net sales | 5,872,300) | 4,998,700) | 4,762,100) | 5,146,700) | 5,379,800) | 4,656,000) | 4,488,800) | 5,122,200) | 4,604,000) | 4,146,700) | 4,114,429) | 4,867,650) | 4,877,860) | 4,040,861) | 4,064,221) | 4,731,470) | 4,773,796) | 3,965,006) | 3,979,564) | 4,507,020) | 3,735,817) | 2,761,387) | |||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| Gross profit margin1 | 41.01% | 41.82% | 42.83% | 44.69% | 46.36% | 47.19% | 47.29% | 46.97% | 46.34% | 45.49% | 44.89% | 43.83% | 42.96% | 42.40% | 42.31% | 43.18% | 43.11% | 44.01% | 45.26% | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Gross Profit Margin, Competitors2 | |||||||||||||||||||||||||||||
| Linde plc | 41.68% | 42.42% | 43.03% | 43.89% | 44.16% | 43.80% | 43.53% | 42.76% | 42.23% | 41.58% | 41.04% | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q2 2022 Calculation
Gross profit margin = 100
× (Gross profitQ2 2022
+ Gross profitQ1 2022
+ Gross profitQ4 2021
+ Gross profitQ3 2021)
÷ (Net salesQ2 2022
+ Net salesQ1 2022
+ Net salesQ4 2021
+ Net salesQ3 2021)
= 100 × (2,449,000 + 2,052,900 + 1,879,700 + 2,139,600)
÷ (5,872,300 + 4,998,700 + 4,762,100 + 5,146,700)
= 41.01%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| Gross profit margin | Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. | Sherwin-Williams Co. gross profit margin ratio deteriorated from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022. |
Operating Profit Margin
Sherwin-Williams Co., operating profit margin calculation (quarterly data)
| Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||
| Operating income | 847,000) | 564,900) | 372,900) | 695,600) | 901,000) | 589,400) | 560,400) | 959,300) | 841,300) | 500,300) | 318,706) | 790,803) | 764,944) | 412,747) | 217,675) | 645,735) | 629,895) | 384,243) | 370,420) | 508,201) | 560,871) | 326,653) | |||||||
| Net sales | 5,872,300) | 4,998,700) | 4,762,100) | 5,146,700) | 5,379,800) | 4,656,000) | 4,488,800) | 5,122,200) | 4,604,000) | 4,146,700) | 4,114,429) | 4,867,650) | 4,877,860) | 4,040,861) | 4,064,221) | 4,731,470) | 4,773,796) | 3,965,006) | 3,979,564) | 4,507,020) | 3,735,817) | 2,761,387) | |||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| Operating profit margin1 | 11.94% | 12.49% | 12.83% | 13.96% | 15.32% | 15.63% | 15.58% | 14.56% | 13.82% | 13.19% | 12.78% | 12.25% | 11.52% | 10.82% | 10.71% | 11.64% | 10.99% | 11.27% | 11.79% | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | |||||||||||||||||||||||||||||
| Linde plc | 14.40% | 16.53% | 16.19% | 15.71% | 15.03% | 13.70% | 12.19% | 10.90% | 10.95% | 10.91% | 10.39% | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q2 2022 Calculation
Operating profit margin = 100
× (Operating incomeQ2 2022
+ Operating incomeQ1 2022
+ Operating incomeQ4 2021
+ Operating incomeQ3 2021)
÷ (Net salesQ2 2022
+ Net salesQ1 2022
+ Net salesQ4 2021
+ Net salesQ3 2021)
= 100 × (847,000 + 564,900 + 372,900 + 695,600)
÷ (5,872,300 + 4,998,700 + 4,762,100 + 5,146,700)
= 11.94%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| Operating profit margin | A profitability ratio calculated as operating income divided by revenue. | Sherwin-Williams Co. operating profit margin ratio deteriorated from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022. |
Net Profit Margin
Sherwin-Williams Co., net profit margin calculation (quarterly data)
| Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||
| Net income | 577,900) | 370,800) | 304,000) | 502,200) | 648,600) | 409,600) | 407,000) | 705,800) | 595,900) | 321,700) | 248,622) | 576,438) | 471,003) | 245,237) | 100,988) | 354,027) | 403,604) | 250,127) | 897,393) | 316,606) | 319,111) | 239,152) | |||||||
| Net sales | 5,872,300) | 4,998,700) | 4,762,100) | 5,146,700) | 5,379,800) | 4,656,000) | 4,488,800) | 5,122,200) | 4,604,000) | 4,146,700) | 4,114,429) | 4,867,650) | 4,877,860) | 4,040,861) | 4,064,221) | 4,731,470) | 4,773,796) | 3,965,006) | 3,979,564) | 4,507,020) | 3,735,817) | 2,761,387) | |||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| Net profit margin1 | 8.45% | 9.00% | 9.35% | 10.00% | 11.05% | 11.23% | 11.06% | 10.41% | 9.83% | 8.98% | 8.61% | 7.81% | 6.61% | 6.27% | 6.32% | 10.92% | 10.84% | 11.02% | 11.83% | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Net Profit Margin, Competitors2 | |||||||||||||||||||||||||||||
| Linde plc | 10.88% | 12.66% | 12.42% | 11.99% | 11.37% | 10.48% | 9.18% | 8.29% | 8.37% | 8.35% | 8.09% | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q2 2022 Calculation
Net profit margin = 100
× (Net incomeQ2 2022
+ Net incomeQ1 2022
+ Net incomeQ4 2021
+ Net incomeQ3 2021)
÷ (Net salesQ2 2022
+ Net salesQ1 2022
+ Net salesQ4 2021
+ Net salesQ3 2021)
= 100 × (577,900 + 370,800 + 304,000 + 502,200)
÷ (5,872,300 + 4,998,700 + 4,762,100 + 5,146,700)
= 8.45%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| Net profit margin | An indicator of profitability, calculated as net income divided by revenue. | Sherwin-Williams Co. net profit margin ratio deteriorated from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022. |
Return on Equity (ROE)
Sherwin-Williams Co., ROE calculation (quarterly data)
| Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||
| Net income | 577,900) | 370,800) | 304,000) | 502,200) | 648,600) | 409,600) | 407,000) | 705,800) | 595,900) | 321,700) | 248,622) | 576,438) | 471,003) | 245,237) | 100,988) | 354,027) | 403,604) | 250,127) | 897,393) | 316,606) | 319,111) | 239,152) | |||||||
| Shareholders’ equity | 2,224,600) | 2,234,300) | 2,437,200) | 2,690,300) | 2,840,400) | 3,078,700) | 3,610,800) | 4,207,300) | 3,869,900) | 3,289,100) | 4,123,300) | 4,022,860) | 3,747,482) | 3,460,061) | 3,730,745) | 3,974,839) | 3,747,089) | 3,690,046) | 3,692,188) | 2,740,989) | 2,391,260) | 2,065,350) | |||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| ROE1 | 78.89% | 81.71% | 76.50% | 73.13% | 76.43% | 68.81% | 56.23% | 44.49% | 45.03% | 49.19% | 37.38% | 34.64% | 31.25% | 31.90% | 29.72% | 47.93% | 49.84% | 48.33% | 48.00% | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| ROE, Competitors2 | |||||||||||||||||||||||||||||
| Linde plc | 8.95% | 9.36% | 8.69% | 8.05% | 7.19% | 6.29% | 5.29% | 4.86% | 5.00% | 5.23% | 4.66% | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q2 2022 Calculation
ROE = 100
× (Net incomeQ2 2022
+ Net incomeQ1 2022
+ Net incomeQ4 2021
+ Net incomeQ3 2021)
÷ Shareholders’ equity
= 100 × (577,900 + 370,800 + 304,000 + 502,200)
÷ 2,224,600 = 78.89%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| ROE | A profitability ratio calculated as net income divided by shareholders’ equity. | Sherwin-Williams Co. ROE improved from Q4 2021 to Q1 2022 but then slightly deteriorated from Q1 2022 to Q2 2022 not reaching Q4 2021 level. |
Return on Assets (ROA)
Sherwin-Williams Co., ROA calculation (quarterly data)
| Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||
| Net income | 577,900) | 370,800) | 304,000) | 502,200) | 648,600) | 409,600) | 407,000) | 705,800) | 595,900) | 321,700) | 248,622) | 576,438) | 471,003) | 245,237) | 100,988) | 354,027) | 403,604) | 250,127) | 897,393) | 316,606) | 319,111) | 239,152) | |||||||
| Total assets | 22,052,800) | 21,730,400) | 20,666,700) | 20,736,600) | 20,519,600) | 20,435,000) | 20,401,600) | 20,809,700) | 20,494,500) | 20,570,300) | 20,496,200) | 20,864,339) | 21,186,136) | 20,961,641) | 19,134,279) | 19,980,696) | 20,154,732) | 20,367,686) | 19,958,427) | 20,779,657) | 20,717,398) | 6,988,903) | |||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| ROA1 | 7.96% | 8.40% | 9.02% | 9.49% | 10.58% | 10.37% | 9.95% | 9.00% | 8.50% | 7.86% | 7.52% | 6.68% | 5.53% | 5.27% | 5.79% | 9.53% | 9.27% | 8.76% | 8.88% | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| ROA, Competitors2 | |||||||||||||||||||||||||||||
| Linde plc | 4.56% | 4.86% | 4.69% | 4.24% | 3.90% | 3.42% | 2.83% | 2.57% | 2.65% | 2.77% | 2.64% | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q2 2022 Calculation
ROA = 100
× (Net incomeQ2 2022
+ Net incomeQ1 2022
+ Net incomeQ4 2021
+ Net incomeQ3 2021)
÷ Total assets
= 100 × (577,900 + 370,800 + 304,000 + 502,200)
÷ 22,052,800 = 7.96%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| ROA | A profitability ratio calculated as net income divided by total assets. | Sherwin-Williams Co. ROA deteriorated from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022. |