Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
Historical Valuation Ratios (Summary)
Sherwin-Williams Co., historical price multiples (quarterly data)
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 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).
- Price to earnings (P/E) ratio
- The P/E ratio data starts from March 31, 2020, showing a value of 31.64, with a general upward trend peaking at 42.12 in December 31, 2020. Subsequently, the ratio declines to a low of 24.87 by December 31, 2022. Following this trough, there is some volatility with values fluctuating between approximately 28 and 35, with the ratio at 33.33 as of June 30, 2025. This indicates varying investor sentiment regarding earnings, with notable peaks and troughs over the periods.
- Price to operating profit (P/OP) ratio
- This ratio follows a pattern similar to the P/E ratio, starting at 22.45 in March 31, 2020, rising steadily to a peak of 30.17 in December 31, 2020. Afterwards, it shows a downward trend to 17.07 in December 31, 2022. Post this bottom, the ratio increases again with fluctuations and settles around the low to mid 20s range (approximately 22 to 24) by June 30, 2025. This pattern suggests changing valuations based on operating profit, with significant shifts around late 2020 and late 2022.
- Price to sales (P/S) ratio
- The P/S ratio begins at 3.5 in March 31, 2020, rising to 4.21 by December 31, 2020. This represents an increase in market valuation relative to sales during this period. A significant decline follows, bringing the ratio down to around 2.6 by December 31, 2022. After this, a recovery occurs, with the ratio rising above 3.7 by December 31, 2024 and stabilizing near 3.7 by mid-2025. Overall, this indicates fluctuating investor valuation relative to sales, with notable dips during late 2021 to late 2022 and subsequent recovery.
- Price to book value (P/BV) ratio
- The P/BV ratio begins at approximately 14.88 at the start of 2020 and rises sharply through 2021 to peak at 30.8 by September 30, 2021. From this peak, a consistent decline is observed, reaching 15.91 at September 30, 2023. After this, the ratio rebounds moderately to around 21 by mid-2025. This trajectory reveals substantial variation in market valuation relative to book value over the period, with notable overvaluation around late 2021 and normalization thereafter.
Price to Earnings (P/E)
Sherwin-Williams Co., historical P/E calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 249,333,316 | 250,600,582 | 251,364,135 | 251,853,291 | 252,257,630 | 253,549,049 | 254,464,522 | 255,966,090 | 257,148,607 | 257,890,316 | 258,442,281 | 259,143,416 | 259,183,053 | 260,131,306 | 260,373,774 | 262,196,196 | 263,302,451 | 265,949,600 | 268,805,607 | 272,473,518 | 273,148,974 | 272,400,000 | |||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Net income (in thousands) | 754,700) | 503,900) | 480,100) | 806,200) | 889,900) | 505,200) | 356,200) | 761,500) | 793,700) | 477,400) | 386,300) | 685,100) | 577,900) | 370,800) | 304,000) | 502,200) | 648,600) | 409,600) | 407,000) | 705,800) | 595,900) | 321,700) | |||||||
| Earnings per share (EPS)2 | 10.21 | 10.69 | 10.67 | 10.15 | 9.96 | 9.53 | 9.39 | 9.45 | 9.11 | 8.25 | 7.82 | 7.48 | 6.77 | 7.02 | 7.16 | 7.50 | 8.25 | 7.97 | 7.55 | 0.00 | 0.00 | 0.00 | |||||||
| Share price1, 3 | 340.21 | 348.13 | 350.02 | 361.38 | 344.50 | 299.61 | 311.26 | 234.98 | 275.96 | 234.79 | 222.63 | 220.20 | 231.97 | 271.37 | 267.22 | 316.02 | 287.72 | 268.96 | 238.97 | 224.49 | 211.18 | 179.62 | |||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/E ratio4 | 33.33 | 32.55 | 32.81 | 35.59 | 34.58 | 31.44 | 33.16 | 24.87 | 30.29 | 28.47 | 28.48 | 29.45 | 34.26 | 38.67 | 37.32 | 42.12 | 34.90 | 33.77 | 31.64 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/E Ratio, Competitors5 | |||||||||||||||||||||||||||||
| Linde plc | 32.09 | 31.94 | 33.25 | 34.03 | 33.88 | 31.97 | 35.05 | 30.01 | 32.97 | 39.93 | 41.34 | 37.71 | 41.67 | 39.22 | 38.92 | 45.83 | 48.23 | 53.02 | 52.57 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
EPS
= (Net incomeQ2 2025
+ Net incomeQ1 2025
+ Net incomeQ4 2024
+ Net incomeQ3 2024)
÷ No. shares of common stock outstanding
= (754,700,000 + 503,900,000 + 480,100,000 + 806,200,000)
÷ 249,333,316 = 10.21
3 Closing price as at the filing date of Sherwin-Williams Co. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/E ratio = Share price ÷ EPS
= 340.21 ÷ 10.21 = 33.33
5 Click competitor name to see calculations.
- Share Price Trends
- The share price exhibited an initial upward trend from March 31, 2020, at $179.62 to a peak around September 30, 2021, reaching $316.02. This was followed by a decline at the end of 2021, dropping to $267.22 in December 31, 2021. The price then fluctuated downward through mid-2022, reaching a low of $220.20 in September 2022. Starting from late 2022, the price rebounded significantly, climbing to a new peak of $361.38 by September 30, 2024, before experiencing a moderate pullback to $340.21 by June 30, 2025.
- Earnings Per Share (EPS) Trends
- EPS data begins in March 31, 2021, at $7.55, showing a steady upward trajectory over the subsequent periods. The EPS rose gradually, with minor fluctuations, reaching $10.69 in June 30, 2025. The overall trend indicates consistent earnings growth throughout the observed timeframe.
- Price-to-Earnings (P/E) Ratio Analysis
- The P/E ratio saw variability, starting at 31.64 in March 31, 2021 and increasing to a high of 42.12 by December 31, 2021. After this peak, the P/E ratio declined to a low of 24.87 in March 31, 2023, contrasting with the increasing EPS and fluctuating share prices. The ratio subsequently rose again, stabilizing mostly in the low to mid-30s range, with slight variations, remaining around 32.81 to 35.59 towards late 2024. This suggests periods of changing market sentiment relative to earnings, despite steady EPS growth.
- Overall Financial Insight
- The data reveals a company with a generally positive growth in earnings coupled with fluctuating share price dynamics. The share price corrections in late 2021 and mid-2022 suggest market reactions possibly driven by external factors or profit-taking, while the EPS growth underscores underlying business strength. The P/E ratio fluctuations indicate changing investor valuation perspectives, including a premium valuation phase and subsequent normalization. The strong share price recovery in 2023 and 2024 aligns with the continued rise in EPS, reflecting improving market confidence.
Price to Operating Profit (P/OP)
Sherwin-Williams Co., historical P/OP calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 249,333,316 | 250,600,582 | 251,364,135 | 251,853,291 | 252,257,630 | 253,549,049 | 254,464,522 | 255,966,090 | 257,148,607 | 257,890,316 | 258,442,281 | 259,143,416 | 259,183,053 | 260,131,306 | 260,373,774 | 262,196,196 | 263,302,451 | 265,949,600 | 268,805,607 | 272,473,518 | 273,148,974 | 272,400,000 | |||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Operating income (in thousands) | 1,100,400) | 756,400) | 698,200) | 1,133,100) | 1,251,300) | 729,200) | 641,700) | 1,097,800) | 1,110,800) | 717,400) | 597,100) | 993,900) | 847,000) | 564,900) | 372,900) | 695,600) | 901,000) | 589,400) | 560,400) | 959,300) | 841,300) | 500,300) | |||||||
| Operating profit per share2 | 14.79 | 15.32 | 15.16 | 14.91 | 14.75 | 14.12 | 14.02 | 13.76 | 13.30 | 12.24 | 11.62 | 10.72 | 9.57 | 9.74 | 9.83 | 10.47 | 11.43 | 11.09 | 10.64 | 0.00 | 0.00 | 0.00 | |||||||
| Share price1, 3 | 340.21 | 348.13 | 350.02 | 361.38 | 344.50 | 299.61 | 311.26 | 234.98 | 275.96 | 234.79 | 222.63 | 220.20 | 231.97 | 271.37 | 267.22 | 316.02 | 287.72 | 268.96 | 238.97 | 224.49 | 211.18 | 179.62 | |||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/OP ratio4 | 23.00 | 22.73 | 23.08 | 24.24 | 23.36 | 21.22 | 22.20 | 17.07 | 20.75 | 19.19 | 19.16 | 20.54 | 24.24 | 27.85 | 27.19 | 30.17 | 25.17 | 24.24 | 22.45 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | |||||||||||||||||||||||||||||
| Linde plc | 24.22 | 24.20 | 25.28 | 25.88 | 25.93 | 24.64 | 27.08 | 23.37 | 25.91 | 30.79 | 31.93 | 28.89 | 31.50 | 30.03 | 29.87 | 34.99 | 36.47 | 40.55 | 39.58 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
Operating profit per share
= (Operating incomeQ2 2025
+ Operating incomeQ1 2025
+ Operating incomeQ4 2024
+ Operating incomeQ3 2024)
÷ No. shares of common stock outstanding
= (1,100,400,000 + 756,400,000 + 698,200,000 + 1,133,100,000)
÷ 249,333,316 = 14.79
3 Closing price as at the filing date of Sherwin-Williams Co. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 340.21 ÷ 14.79 = 23.00
5 Click competitor name to see calculations.
The share price exhibits a fluctuating trend over the observed periods. Initially, the price increased steadily from $179.62 in March 2020 to a peak of $316.02 in September 2021. Following this peak, a decline ensued, with the price falling to around $220.20 by September 2022. After a phase of recovery and further fluctuations, the share price reached a higher peak of approximately $361.38 in September 2024 before slightly decreasing towards mid-2025.
Operating profit per share (OPPS) data, available from March 2021, shows a consistent upward trajectory. OPPS has grown from $10.64 in March 2021 to a high of $15.32 in June 2025, with minor fluctuations around this trend. This progression indicates improvement in operating profitability on a per-share basis over the years.
The price-to-operating-profit ratio (P/OP) demonstrates volatility that reflects changes in both share price and operating profit. Initially, it rose from 22.45 in March 2021 to a peak of 30.17 in December 2021, indicating that share prices increased faster than operating profits during this period. Subsequently, the ratio declined to a low near 17.07 by March 2023, suggesting that operating profits grew relatively faster compared to the share price. Thereafter, the P/OP ratio oscillated moderately between approximately 19 and 24, indicating periods of relative balance and revaluation between market price and operating profit.
Overall, the data indicates that while the share price has experienced considerable volatility with multiple peaks and troughs, the company's operating profit per share shows a steady improvement. The fluctuations in the P/OP ratio highlight changing market perceptions and valuation relative to operating profitability. The general trend suggests strengthening operating performance contributing to higher earnings per share, although market price adjustments have been more irregular across the quarters observed.
- Share Price Trend
- Increased from early 2020 to late 2021, followed by a decline through late 2022, then recovery and new peaks through 2024, with slight declines into mid-2025.
- Operating Profit Per Share Trend
- Consistent upward trend from $10.64 in early 2021 to above $15 by mid-2025, indicating improved operating efficiency or profitability.
- P/OP Ratio Dynamics
- Peaked in late 2021 evidencing a faster rise in price than profit, declined significantly by early 2023 reflecting profit growth outpacing price, and then stabilized with moderate fluctuations thereafter.
Price to Sales (P/S)
Sherwin-Williams Co., historical P/S calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 249,333,316 | 250,600,582 | 251,364,135 | 251,853,291 | 252,257,630 | 253,549,049 | 254,464,522 | 255,966,090 | 257,148,607 | 257,890,316 | 258,442,281 | 259,143,416 | 259,183,053 | 260,131,306 | 260,373,774 | 262,196,196 | 263,302,451 | 265,949,600 | 268,805,607 | 272,473,518 | 273,148,974 | 272,400,000 | |||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Net sales (in thousands) | 6,314,500) | 5,305,700) | 5,297,200) | 6,162,500) | 6,271,500) | 5,367,300) | 5,252,200) | 6,116,700) | 6,240,600) | 5,442,400) | 5,230,500) | 6,047,400) | 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) | |||||||
| Sales per share2 | 92.57 | 91.93 | 91.89 | 91.54 | 91.21 | 90.62 | 90.59 | 89.97 | 89.29 | 87.61 | 85.70 | 83.66 | 80.17 | 77.99 | 76.60 | 75.03 | 74.62 | 70.96 | 68.31 | 0.00 | 0.00 | 0.00 | |||||||
| Share price1, 3 | 340.21 | 348.13 | 350.02 | 361.38 | 344.50 | 299.61 | 311.26 | 234.98 | 275.96 | 234.79 | 222.63 | 220.20 | 231.97 | 271.37 | 267.22 | 316.02 | 287.72 | 268.96 | 238.97 | 224.49 | 211.18 | 179.62 | |||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/S ratio4 | 3.68 | 3.79 | 3.81 | 3.95 | 3.78 | 3.31 | 3.44 | 2.61 | 3.09 | 2.68 | 2.60 | 2.63 | 2.89 | 3.48 | 3.49 | 4.21 | 3.86 | 3.79 | 3.50 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/S Ratio, Competitors5 | |||||||||||||||||||||||||||||
| Linde plc | 6.48 | 6.40 | 6.61 | 6.58 | 6.60 | 6.16 | 6.61 | 5.53 | 5.67 | 5.38 | 5.14 | 4.29 | 4.53 | 4.96 | 4.84 | 5.50 | 5.48 | 5.56 | 4.83 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
Sales per share
= (Net salesQ2 2025
+ Net salesQ1 2025
+ Net salesQ4 2024
+ Net salesQ3 2024)
÷ No. shares of common stock outstanding
= (6,314,500,000 + 5,305,700,000 + 5,297,200,000 + 6,162,500,000)
÷ 249,333,316 = 92.57
3 Closing price as at the filing date of Sherwin-Williams Co. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= 340.21 ÷ 92.57 = 3.68
5 Click competitor name to see calculations.
- Share Price Trend
- The share price exhibits notable volatility over the observed periods. Starting at $179.62 in March 2020, it generally increased, reaching a peak of $316.02 by September 2021. This was followed by a decline towards the end of 2021 and through 2022, with values dropping to around $220.20 in September 2022. Subsequently, the share price experienced recovery and growth, reaching up to $361.38 by September 2024 before a slight decline in the final periods, ending at $340.21 in June 2025.
- Sales per Share Trend
- Sales per share data is available from March 2021 onwards, showing a steady and gradual increase over time. From $68.31 in March 2021, sales per share climbed consistently, reaching $92.57 in June 2025. This indicates consistent growth in sales on a per-share basis, reflecting positive revenue-generating performance across the quarters.
- Price-to-Sales (P/S) Ratio Analysis
- The P/S ratio presents considerable fluctuations throughout the periods. After starting at 3.5 in March 2021, it peaked at 4.21 in December 2021. Following this peak, the ratio fell sharply in 2022, reaching lows near 2.6 by December 2022. From 2023 onward, this ratio showed a pattern of recovery and oscillation, climbing back up to around 3.95 by September 2024 before stabilizing slightly lower towards mid-2025.
- Integrated Insights
- The observed trends suggest that while sales per share showed consistent growth, the share price experienced more pronounced fluctuations. The P/S ratio's variability indicates changing market valuations relative to sales, potentially reflecting shifts in investor sentiment, market conditions, or company-specific factors. The disparity between the steady improvement in sales per share and the volatility in share price and P/S ratio highlights periods where market price did not directly track sales growth, suggesting external influences on stock valuation during certain quarters.
Price to Book Value (P/BV)
Sherwin-Williams Co., historical P/BV calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 249,333,316 | 250,600,582 | 251,364,135 | 251,853,291 | 252,257,630 | 253,549,049 | 254,464,522 | 255,966,090 | 257,148,607 | 257,890,316 | 258,442,281 | 259,143,416 | 259,183,053 | 260,131,306 | 260,373,774 | 262,196,196 | 263,302,451 | 265,949,600 | 268,805,607 | 272,473,518 | 273,148,974 | 272,400,000 | |||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Shareholders’ equity (in thousands) | 4,400,900) | 4,130,100) | 4,051,200) | 4,156,100) | 3,751,800) | 3,503,700) | 3,715,800) | 3,780,000) | 3,631,100) | 3,166,800) | 3,102,100) | 2,597,800) | 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) | |||||||
| Book value per share (BVPS)2 | 17.65 | 16.48 | 16.12 | 16.50 | 14.87 | 13.82 | 14.60 | 14.77 | 14.12 | 12.28 | 12.00 | 10.02 | 8.58 | 8.59 | 9.36 | 10.26 | 10.79 | 11.58 | 13.43 | 15.44 | 14.17 | 12.07 | |||||||
| Share price1, 3 | 340.21 | 348.13 | 350.02 | 361.38 | 344.50 | 299.61 | 311.26 | 234.98 | 275.96 | 234.79 | 222.63 | 220.20 | 231.97 | 271.37 | 267.22 | 316.02 | 287.72 | 268.96 | 238.97 | 224.49 | 211.18 | 179.62 | |||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/BV ratio4 | 19.27 | 21.12 | 21.72 | 21.90 | 23.16 | 21.68 | 21.32 | 15.91 | 19.54 | 19.12 | 18.55 | 21.97 | 27.03 | 31.59 | 28.55 | 30.80 | 26.67 | 23.23 | 17.79 | 14.54 | 14.91 | 14.88 | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | |||||||||||||||||||||||||||||
| Linde plc | 5.59 | 5.55 | 5.73 | 5.54 | 5.68 | 5.19 | 5.47 | 4.62 | 4.70 | 4.48 | 4.28 | 3.85 | 3.73 | 3.67 | 3.38 | 3.69 | 3.47 | 3.34 | 2.78 | 2.84 | 2.83 | 2.17 | |||||||
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
BVPS = Shareholders’ equity ÷ No. shares of common stock outstanding
= 4,400,900,000 ÷ 249,333,316 = 17.65
3 Closing price as at the filing date of Sherwin-Williams Co. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= 340.21 ÷ 17.65 = 19.27
5 Click competitor name to see calculations.
- Share price trend
- The share price exhibited notable volatility throughout the observed periods. Initially, there was a steady upward movement from $179.62 at the end of Q1 2020 to a peak of $316.02 in Q3 2021. Subsequently, the price declined sharply to $220.20 by Q3 2022. Following this dip, the share price recovered and experienced significant increases again, reaching a high of $361.38 in Q3 2024. Toward the end of the timeline, the price showed a slight downward adjustment, settling around $340.21 by Q2 2025.
- Book value per share (BVPS) evolution
- The book value per share started at $12.07 in Q1 2020 and generally followed a fluctuating but slightly increasing trend over the five-year span. There was a decline observed until Q4 2021, reaching a trough near $8.59 in Q1 2022, followed by a recovery trend that continued through to $17.65 by Q2 2025. This suggests a gradual enhancement in the company's net asset value per share despite interim decreases.
- Price to book value ratio (P/BV) behavior
- The P/BV ratio showed significant variability, beginning at 14.88 in Q1 2020 and rising sharply to a peak of 30.8 in Q3 2021. Afterward, there was a notable contraction to a level around 18.55 in Q4 2022. Following this period, the ratio generally stabilized between approximately 19 to 23, with some fluctuations, and then trended slightly downward to 19.27 by Q2 2025. This pattern reflects changing market perceptions of valuation relative to book value, with investor sentiment being particularly optimistic in mid-2021 before normalizing somewhat in subsequent years.
- Overall observations
- The data highlights an initial growth phase in share price accompanied by a rising premium over book value, indicating strong market confidence. The subsequent corrections in both share price and valuation multiples coincided with a low point in book value per share, which later recovered. The recovery in book value suggests improvement in underlying assets or profitability, which helped support the share price rebound. The P/BV ratio fluctuations indicate that market sentiment has been a key driver of price volatility, with periods of heightened optimism followed by more conservative valuation levels. Overall, the company's market valuation and intrinsic book value have both increased over the analyzed period, albeit with episodic adjustments reflecting broader economic or company-specific factors.