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 | $19.9B | $22.1B | $23.1B | $23.1B | $23.6B |
| YoY | — | +11.1% | +4.1% | +0.2% | +2.1% |
| Cost of goods sold | $11.4B | $12.8B | $12.3B | $11.9B | $12.1B |
| YoY | — | +12.5% | -4.1% | -3.2% | +1.3% |
| Gross profit | $8.5B | $9.3B | $10.8B | $11.2B | $11.5B |
| YoY | — | +9.2% | +15.4% | +4.1% | +2.9% |
| Research & development | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Selling, general & administrative | $5.9B | $6.3B | $7.1B | $7.4B | $7.7B |
| YoY | — | +7.6% | +11.6% | +5.0% | +3.7% |
| Operating income | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Pretax income | $2.2B | $2.6B | $3.1B | $3.5B | $3.3B |
| YoY | — | +14.4% | +20.9% | +11.0% | -3.3% |
| Income tax | $384.2M | $553.0M | $721.1M | $770.4M | $769.7M |
| YoY | — | +43.9% | +30.4% | +6.8% | -0.1% |
| Net income | $1.9B | $2.0B | $2.4B | $2.7B | $2.6B |
| YoY | — | +8.4% | +18.3% | +12.2% | -4.2% |
| EPS — basic | $7.10 | $7.83 | $9.35 | $10.68 | $10.37 |
| YoY | — | +10.3% | +19.4% | +14.2% | -2.9% |
| EPS — diluted | $6.98 | $7.72 | $9.25 | $10.55 | $10.26 |
| YoY | — | +10.6% | +19.8% | +14.1% | -2.7% |
| Weighted shares — basic | 262.5M | 258.0M | 255.4M | 251.0M | 247.6M |
| Weighted shares — diluted | 267.1M | 261.8M | 258.3M | 254.1M | 250.4M |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Cash & equivalents | $165.7M | $198.8M | $276.8M | $210.4M | $207.2M |
| YoY | — | +20.0% | +39.2% | -24.0% | -1.5% |
| Marketable securities (current) | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Accounts receivable | $2.4B | $2.6B | $2.5B | $2.4B | $2.8B |
| YoY | — | +9.0% | -3.7% | -3.2% | +16.8% |
| Inventory | $1.9B | $2.6B | $2.3B | $2.3B | $2.3B |
| YoY | — | +36.3% | -11.3% | -1.8% | +1.3% |
| Total current assets | $5.1B | $5.9B | $5.5B | $5.4B | $6.0B |
| YoY | — | +16.9% | -6.7% | -2.0% | +11.2% |
| Total assets | $20.7B | $22.6B | $23.0B | $23.6B | $25.9B |
| YoY | — | +9.3% | +1.6% | +3.0% | +9.6% |
| Total current liabilities | $5.7B | $6.0B | $6.6B | $6.8B | $6.9B |
| YoY | — | +4.2% | +11.2% | +2.7% | +1.6% |
| Total liabilities | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Total equity | $2.4B | $3.1B | $3.7B | $4.1B | $4.6B |
| YoY | — | +27.3% | +19.8% | +9.0% | +13.5% |
| Shares outstanding | 261.1M | 258.9M | 254.5M | 251.3M | 247.7M |
| YoY | — | -0.8% | -1.7% | -1.3% | -1.4% |
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 | $2.2B | $1.9B | $3.5B | $3.2B | $3.5B |
| YoY | — | -14.5% | +83.4% | -10.5% | +9.5% |
| Capital expenditures | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Free cash flow | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Dividends paid | $587.1M | $618.5M | $623.7M | $723.4M | $789.8M |
| YoY | — | +5.3% | +0.8% | +16.0% | +9.2% |
| Share repurchases | — | — | — | — | — |
| YoY | — | — | — | — | — |
Margins & ratios
Derived from the reported dollars above — no separate source.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Gross margin | 42.8% | 42.1% | 46.7% | 48.5% | 48.8% |
| Operating margin | — | — | — | — | — |
| Net margin | 9.3% | 9.1% | 10.4% | 11.6% | 10.9% |
| Free cash flow margin | — | — | — | — | — |
| Effective tax rate | 17.1% | 21.5% | 23.2% | 22.3% | 23.1% |
| Current ratio | 0.88x | 0.99x | 0.83x | 0.79x | 0.87x |
| Total liabilities / equity | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|
| SHW FY25 · this stock | $23.6B | +2.1% | 48.8% | — | 10.9% | — |
| 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% | — | — |
| 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% |
| PPG FY25 | $15.9B | +0.2% | — | — | 9.9% | 7.3% |
| 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.