Enterprise Value (EV)
Current Enterprise Value (EV)
Sherwin-Williams Co., current enterprise value calculation
| Current share price (P) | $355.30 |
| No. shares of common stock outstanding | 250,600,582 |
| US$ in thousands | |
| Common equity (market value)1 | 89,038,387) |
| Total equity | 89,038,387) |
| Add: Short-term borrowings (per books) | 662,400) |
| Add: Current portion of long-term debt (per books) | 1,049,200) |
| Add: Current portion of finance lease liabilities (per books) | 3,700) |
| Add: Long-term debt, excluding current portion (per books) | 8,176,800) |
| Add: Long-term finance lease liabilities, excluding current portion (per books) | 185,600) |
| Total equity and debt | 99,116,087) |
| Less: Cash and cash equivalents | 210,400) |
| Enterprise value (EV) | 98,905,687) |
Based on: 10-K (reporting date: 2024-12-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 355.30 × 250,600,582
Historical Enterprise Value (EV)
Sherwin-Williams Co., EV calculation
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).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Sherwin-Williams Co. Annual Report.
3 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 350.02 × 251,364,135
The data reflects the financial position over a five-year period with several key metrics indicating the company's capital structure and market valuation.
- Common equity (market value) and Total equity
- Both common equity (market value) and total equity values are identical across all years, suggesting that the equity reported is entirely attributable to common shareholders without distinction between different equity classes. The value increased from approximately $64.24 billion in 2020 to around $69.58 billion in 2021, indicating growth. However, a significant decline occurred in 2022 with equity falling to about $57.54 billion. This was followed by a notable rebound to $79.20 billion in 2023 and further growth to $87.98 billion in 2024. Overall, the equity shows volatility but ends with a strong upward trend.
- Total equity and debt
- The sum of total equity and debt experienced fluctuations similar to total equity but at higher values due to debt financing. Starting at approximately $72.53 billion in 2020, the figure rose to $79.19 billion in 2021, then decreased noticeably to $68.11 billion in 2022. This was followed by a pronounced increase to $89.06 billion in 2023 and further growth to a peak of approximately $98.06 billion in 2024. The trend suggests active management of debt levels alongside equity, with a substantial increase in overall capital structure in the last two years.
- Enterprise value (EV)
- The enterprise value closely tracks the combined equity and debt values, with figures slightly lower but following the same pattern across the years. It started at roughly $72.30 billion in 2020, increased to about $79.03 billion in 2021, then dropped to around $67.91 billion in 2022. Subsequently, it rose sharply to roughly $88.78 billion in 2023 and further to nearly $97.85 billion in 2024. This pattern aligns with market perceptions of the company’s overall value and indicates recovery and expansion after a dip in 2022.
In summary, the data demonstrates a dip in the company’s equity and overall valuation in 2022, followed by strong growth in the subsequent two years. The rise in both total capital (equity plus debt) and enterprise value suggests enhanced market confidence and increased capitalization, possibly reflecting improved operational performance or strategic financing decisions.