Revenue vs Net income
Reported dollars from 10-Q / 10-K filings. Q4 bars are derived (annual less nine months) where the 10-K does not tag Q4 separately.
Margin trend
Gross, operating and net margin. Margins are derived from reported dollars.
Revenue YoY growth
Year-over-year change vs the same quarter (or fiscal year) a year earlier. Shown where the prior-year period is in the 8-quarter snapshot (latest four quarters).
Income statement
From 10-Q / 10-K XBRL. Values in reported dollars; EPS in $/share; share counts in shares.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $16.8B | $15.6B | $16.2B | $15.8B | $15.9B |
| YoY | — | -7.1% | +4.0% | -2.4% | +0.2% |
| Cost of goods sold | $10.3B | $10.0B | $9.7B | $9.3B | $9.3B |
| YoY | — | -3.0% | -3.0% | -4.4% | +0.7% |
| Gross profit | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Research & development | $463.0M | $457.0M | $446.0M | $447.0M | $446.0M |
| YoY | — | -1.3% | -2.4% | +0.2% | -0.2% |
| Selling, general & administrative | $3.8B | $3.0B | $3.4B | $3.4B | $3.4B |
| YoY | — | -19.7% | +12.0% | -0.3% | +1.4% |
| Operating income | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Pretax income | $1.8B | $1.4B | $1.7B | $1.9B | $2.0B |
| YoY | — | -25.3% | +24.7% | +9.6% | +10.4% |
| Income tax | $374.0M | $320.0M | $428.0M | $475.0M | $458.0M |
| YoY | — | -14.4% | +33.8% | +11.0% | -3.6% |
| Net income | $1.4B | $1.0B | $1.3B | $1.1B | $1.6B |
| YoY | — | -28.7% | +23.8% | -12.1% | +41.2% |
| EPS — basic | $6.06 | $4.34 | $5.38 | $4.77 | $6.96 |
| YoY | — | -28.4% | +24.0% | -11.3% | +45.9% |
| EPS — diluted | $6.01 | $4.32 | $5.35 | $4.75 | $6.94 |
| YoY | — | -28.1% | +23.8% | -11.2% | +46.1% |
| Weighted shares — basic | 237.6M | 236.1M | 236.0M | 233.8M | 226.3M |
| Weighted shares — diluted | 239.4M | 237.3M | 237.2M | 234.9M | 227.1M |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Cash & equivalents | $1.0B | $1.1B | $1.5B | $1.3B | $2.2B |
| YoY | — | +9.4% | +35.9% | -14.9% | +70.3% |
| Marketable securities (current) | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Accounts receivable | $3.2B | $3.3B | $3.0B | $3.0B | $3.3B |
| YoY | — | +4.8% | -9.0% | -0.7% | +11.8% |
| Inventory | $2.2B | $2.3B | $1.9B | $1.8B | $2.0B |
| YoY | — | +4.7% | -14.9% | -4.6% | +8.1% |
| Total current assets | $6.8B | $7.2B | $7.4B | $6.6B | $8.0B |
| YoY | — | +5.9% | +3.6% | -11.8% | +21.4% |
| Total assets | $21.4B | $20.7B | $21.6B | $19.4B | $22.1B |
| YoY | — | -2.8% | +4.4% | -10.2% | +13.7% |
| Total current liabilities | $4.8B | $4.7B | $5.1B | $5.0B | $4.9B |
| YoY | — | -0.9% | +7.1% | -0.8% | -2.3% |
| Total liabilities | $14.9B | $14.0B | $13.6B | $12.5B | $14.0B |
| YoY | — | -6.1% | -2.9% | -8.5% | +12.3% |
| Total equity | $6.3B | $6.6B | $7.8B | $6.8B | $7.9B |
| YoY | — | +4.9% | +18.8% | -13.4% | +17.0% |
| Shares outstanding | 235.9M | 235.1M | 235.2M | 229.9M | 223.4M |
| YoY | — | -0.3% | +0.0% | -2.3% | -2.8% |
Cash flow
Quarterly values derived from year-to-date filings (Q4 from the 10-K). Free cash flow = operating cash flow − capital expenditures.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Operating cash flow | $1.6B | $963.0M | $2.4B | $1.4B | $1.9B |
| YoY | — | -38.3% | +150.4% | -41.1% | +36.7% |
| Capital expenditures | $371.0M | $486.0M | $516.0M | $721.0M | $778.0M |
| YoY | — | +31.0% | +6.2% | +39.7% | +7.9% |
| Free cash flow | $1.2B | $477.0M | $1.9B | $699.0M | $1.2B |
| YoY | — | -59.9% | +297.3% | -63.1% | +66.4% |
| Dividends paid | $536.0M | $570.0M | $598.0M | $622.0M | $628.0M |
| YoY | — | +6.3% | +4.9% | +4.0% | +1.0% |
| Share repurchases | $210.0M | $190.0M | $86.0M | $752.0M | $790.0M |
| YoY | — | -9.5% | -54.7% | +774.4% | +5.1% |
Margins & ratios
Derived from the reported dollars above — no separate source.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — |
| Operating margin | — | — | — | — | — |
| Net margin | 8.6% | 6.6% | 7.8% | 7.0% | 9.9% |
| Free cash flow margin | 7.1% | 3.1% | 11.7% | 4.4% | 7.3% |
| Effective tax rate | 20.6% | 23.6% | 25.3% | 25.6% | 22.4% |
| Current ratio | 1.42x | 1.52x | 1.47x | 1.31x | 1.62x |
| Total liabilities / equity | 2.38x | 2.13x | 1.74x | 1.84x | 1.76x |
Peer comparison — latest full year
Same sector (Materials), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| PPG FY25 · this stock | $15.9B | +0.2% | — | — | 9.9% | 7.3% |
| DOW FY25 | $40.0B | -7.0% | — | — | — | — |
| LIN FY25 | $34.0B | +3.0% | — | 26.3% | 20.3% | 15.0% |
| NUE FY25 | $32.5B | +5.7% | — | — | 5.4% | -0.6% |
| FCX FY25 | $25.9B | +1.8% | — | 25.2% | — | — |
| SHW FY25 | $23.6B | +2.1% | 48.8% | — | 10.9% | — |
| NEM FY25 | $22.7B | +21.3% | — | — | 31.3% | — |
| STLD FY25 | $18.2B | +3.6% | 13.2% | 8.1% | 6.5% | 2.8% |
| CTVA FY25 | $17.4B | +2.9% | — | — | 6.3% | — |
| ECL FY25 | $16.1B | +2.2% | — | 17.0% | 12.9% | 11.8% |
| MOS FY25 | $12.1B | +8.4% | 15.8% | 6.8% | 4.5% | -4.4% |
Source: SEC EDGAR XBRL company facts (10-Q / 10-K), snapshot generated 2026-11-03 for 218 tickers. Q4 values are derived as the 10-K annual less the first nine months, since Q4 is not separately tagged in company facts; cash-flow quarterly values are derived from year-to-date filings the same way. Free cash flow = operating cash flow − capital expenditures. Blank cells mean the filing does not report that line item under a standard US-GAAP tag — nothing is estimated or filled in. Descriptive research, not investment advice. How EarnIQ builds fundamentals.