Stock Analysis on Net
Stock Analysis on Net

Sherwin-Williams Co. (NYSE:SHW)

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Analysis of Profitability Ratios
Quarterly Data

Beginner level

Profitability ratios measure the company’s ability to generate profitable sales from its resources (assets).


Profitability Ratios (Summary)

Sherwin-Williams Co., profitability ratios (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Return on Sales
Gross profit margin
Operating profit margin
Net profit margin
Return on Investment
Return on equity (ROE)
Return on assets (ROA)

Based on: 10-Q (filing date: 2020-07-28), 10-Q (filing date: 2020-04-29), 10-K (filing date: 2020-02-21), 10-Q (filing date: 2019-10-22), 10-Q (filing date: 2019-07-24), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-25), 10-Q (filing date: 2018-04-25), 10-K (filing date: 2018-02-23), 10-Q (filing date: 2017-10-25), 10-Q (filing date: 2017-07-26), 10-Q (filing date: 2017-04-21), 10-K (filing date: 2017-02-22), 10-Q (filing date: 2016-10-26), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-27), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-10-29), 10-Q (filing date: 2015-07-22), 10-Q (filing date: 2015-04-22).

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.’s gross profit margin ratio improved from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Sherwin-Williams Co.’s operating profit margin ratio improved from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Sherwin-Williams Co.’s net profit margin ratio improved from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Sherwin-Williams Co.’s ROE improved from Q4 2019 to Q1 2020 but then slightly deteriorated from Q1 2020 to Q2 2020.
ROA A profitability ratio calculated as net income divided by total assets. Sherwin-Williams Co.’s ROA improved from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Gross Profit Margin

Sherwin-Williams Co., gross profit margin calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in thousands)
Gross profit
Net sales
Profitability Ratio
Gross profit margin1

Based on: 10-Q (filing date: 2020-07-28), 10-Q (filing date: 2020-04-29), 10-K (filing date: 2020-02-21), 10-Q (filing date: 2019-10-22), 10-Q (filing date: 2019-07-24), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-25), 10-Q (filing date: 2018-04-25), 10-K (filing date: 2018-02-23), 10-Q (filing date: 2017-10-25), 10-Q (filing date: 2017-07-26), 10-Q (filing date: 2017-04-21), 10-K (filing date: 2017-02-22), 10-Q (filing date: 2016-10-26), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-27), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-10-29), 10-Q (filing date: 2015-07-22), 10-Q (filing date: 2015-04-22).

1 Q2 2020 Calculation
Gross profit margin = 100 × (Gross profitQ2 2020 + Gross profitQ1 2020 + Gross profitQ4 2019 + Gross profitQ3 2019) ÷ (Net salesQ2 2020 + Net salesQ1 2020 + Net salesQ4 2019 + Net salesQ3 2019)
= 100 × ( + + + ) ÷ ( + + + ) =

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.’s gross profit margin ratio improved from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Operating Profit Margin

Sherwin-Williams Co., operating profit margin calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in thousands)
Operating income
Net sales
Profitability Ratio
Operating profit margin1

Based on: 10-Q (filing date: 2020-07-28), 10-Q (filing date: 2020-04-29), 10-K (filing date: 2020-02-21), 10-Q (filing date: 2019-10-22), 10-Q (filing date: 2019-07-24), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-25), 10-Q (filing date: 2018-04-25), 10-K (filing date: 2018-02-23), 10-Q (filing date: 2017-10-25), 10-Q (filing date: 2017-07-26), 10-Q (filing date: 2017-04-21), 10-K (filing date: 2017-02-22), 10-Q (filing date: 2016-10-26), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-27), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-10-29), 10-Q (filing date: 2015-07-22), 10-Q (filing date: 2015-04-22).

1 Q2 2020 Calculation
Operating profit margin = 100 × (Operating incomeQ2 2020 + Operating incomeQ1 2020 + Operating incomeQ4 2019 + Operating incomeQ3 2019) ÷ (Net salesQ2 2020 + Net salesQ1 2020 + Net salesQ4 2019 + Net salesQ3 2019)
= 100 × ( + + + ) ÷ ( + + + ) =

Profitability ratio Description The company
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Sherwin-Williams Co.’s operating profit margin ratio improved from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Net Profit Margin

Sherwin-Williams Co., net profit margin calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in thousands)
Net income
Net sales
Profitability Ratio
Net profit margin1

Based on: 10-Q (filing date: 2020-07-28), 10-Q (filing date: 2020-04-29), 10-K (filing date: 2020-02-21), 10-Q (filing date: 2019-10-22), 10-Q (filing date: 2019-07-24), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-25), 10-Q (filing date: 2018-04-25), 10-K (filing date: 2018-02-23), 10-Q (filing date: 2017-10-25), 10-Q (filing date: 2017-07-26), 10-Q (filing date: 2017-04-21), 10-K (filing date: 2017-02-22), 10-Q (filing date: 2016-10-26), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-27), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-10-29), 10-Q (filing date: 2015-07-22), 10-Q (filing date: 2015-04-22).

1 Q2 2020 Calculation
Net profit margin = 100 × (Net incomeQ2 2020 + Net incomeQ1 2020 + Net incomeQ4 2019 + Net incomeQ3 2019) ÷ (Net salesQ2 2020 + Net salesQ1 2020 + Net salesQ4 2019 + Net salesQ3 2019)
= 100 × ( + + + ) ÷ ( + + + ) =

Profitability ratio Description The company
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Sherwin-Williams Co.’s net profit margin ratio improved from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Return on Equity (ROE)

Sherwin-Williams Co., ROE calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in thousands)
Net income
Shareholders’ equity
Profitability Ratio
ROE1

Based on: 10-Q (filing date: 2020-07-28), 10-Q (filing date: 2020-04-29), 10-K (filing date: 2020-02-21), 10-Q (filing date: 2019-10-22), 10-Q (filing date: 2019-07-24), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-25), 10-Q (filing date: 2018-04-25), 10-K (filing date: 2018-02-23), 10-Q (filing date: 2017-10-25), 10-Q (filing date: 2017-07-26), 10-Q (filing date: 2017-04-21), 10-K (filing date: 2017-02-22), 10-Q (filing date: 2016-10-26), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-27), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-10-29), 10-Q (filing date: 2015-07-22), 10-Q (filing date: 2015-04-22).

1 Q2 2020 Calculation
ROE = 100 × (Net incomeQ2 2020 + Net incomeQ1 2020 + Net incomeQ4 2019 + Net incomeQ3 2019) ÷ Shareholders’ equity
= 100 × ( + + + ) ÷ =

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Sherwin-Williams Co.’s ROE improved from Q4 2019 to Q1 2020 but then slightly deteriorated from Q1 2020 to Q2 2020.

Return on Assets (ROA)

Sherwin-Williams Co., ROA calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in thousands)
Net income
Total assets
Profitability Ratio
ROA1

Based on: 10-Q (filing date: 2020-07-28), 10-Q (filing date: 2020-04-29), 10-K (filing date: 2020-02-21), 10-Q (filing date: 2019-10-22), 10-Q (filing date: 2019-07-24), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-25), 10-Q (filing date: 2018-04-25), 10-K (filing date: 2018-02-23), 10-Q (filing date: 2017-10-25), 10-Q (filing date: 2017-07-26), 10-Q (filing date: 2017-04-21), 10-K (filing date: 2017-02-22), 10-Q (filing date: 2016-10-26), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-27), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-10-29), 10-Q (filing date: 2015-07-22), 10-Q (filing date: 2015-04-22).

1 Q2 2020 Calculation
ROA = 100 × (Net incomeQ2 2020 + Net incomeQ1 2020 + Net incomeQ4 2019 + Net incomeQ3 2019) ÷ Total assets
= 100 × ( + + + ) ÷ =

Profitability ratio Description The company
ROA A profitability ratio calculated as net income divided by total assets. Sherwin-Williams Co.’s ROA improved from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.