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Sherwin-Williams common stock trades on the New York Stock Exchange under the ticker SHW. The latest results available for this article are the quarter ended June 30, 2026, released July 28, 2026. Sales and earnings increased, and management raised its 2026 earnings guidance, but demand softness, inflation, acquisition costs and debt remain important considerations. The figures below describe the business; they do not establish whether SHW is fairly valued or a good buy at any particular market price.
What is Sherwin-Williams stock?
The Sherwin-Williams Company’s common stock is listed on the New York Stock Exchange as SHW. Its common shares have a par value of $0.33-1/3 per share, according to the company’s fiscal 2025 Form 10-K filed with the U.S. Securities and Exchange Commission (SEC Form 10-K).
SHW gives investors exposure to a coatings company whose operations are reported in three segments: Paint Stores Group, Consumer Brands Group and Performance Coatings Group. A stock purchase represents an ownership interest in the entire company, not a claim on one segment or on a specific paint brand.
The latest quarter in the available company reporting is the second quarter of 2026. Sherwin-Williams’ third-quarter results could change the figures and outlook discussed here, so check a newer earnings release for an updated snapshot.
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How did Sherwin-Williams perform in Q2 2026?
For the quarter ended June 30, 2026, Sherwin-Williams reported consolidated net sales of $6.789 billion, an increase of 7.5% from the same quarter a year earlier. Diluted earnings per share (EPS) were $3.43, up 14.3% year over year. Adjusted diluted EPS was $3.70, up 9.5%.
These are company-reported GAAP and adjusted figures from the July 28, 2026 earnings release (Q2 2026 results). Adjusted EPS is not interchangeable with GAAP EPS. Sherwin-Williams’ full-year adjusted guidance excludes $0.81 per share of Valspar acquisition-related amortization and $0.07 per share of severance and other restructuring expenses.
| Q2 2026 measure | Reported result | Year-over-year change | Qualification |
|---|---|---|---|
| Consolidated net sales | $6.789 billion | +7.5% | Quarter ended June 30, 2026 |
| Diluted EPS | $3.43 | +14.3% | GAAP measure |
| Adjusted diluted EPS | $3.70 | +9.5% | Non-GAAP measure; exclusions are described in the release |
Management said higher sales helped pretax income, while results also reflected moderately higher raw-material costs, employee-related costs, Suvinil selling, general and administrative expenses, headquarters and technology-center costs, and interest expense associated with higher borrowings and debt.
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What is Sherwin-Williams’ 2026 earnings guidance?
In the July 28 release, management raised its full-year 2026 guidance to:
| Guidance measure | 2026 range | What it includes or excludes |
|---|---|---|
| Diluted EPS | $10.92–$11.32 | Company guidance using the reported measure |
| Adjusted diluted EPS | $11.80–$12.20 | Excludes $0.81 per share of Valspar acquisition-related amortization and $0.07 per share of severance and other restructuring expenses |
Guidance is management’s expectation, not an analyst estimate or a guarantee. The two ranges use different definitions, so comparing their midpoint as if they were the same earnings measure would be misleading. Future results can differ if demand, prices, costs, foreign exchange, interest expense or integration expenses change.
Which Sherwin-Williams segments are growing?
Q2 growth differed materially by segment and by its underlying driver. In particular, acquisition-led sales growth is not equivalent to same-store growth or organic volume growth.
| Segment | Q2 2026 sales | Year-over-year change | Reported drivers |
|---|---|---|---|
| Paint Stores Group | $3.890 billion | +5.1% | Same-store sales +4.2%; mid-single-digit price increases and low-single-digit volume growth; all professional end markets higher |
| Consumer Brands Group | $983.5 million | +21.5% | Primarily the Suvinil acquisition, increased North American sales and favorable currency translation |
| Performance Coatings Group | $1.914 billion | +6.3% | Selling price and product mix, volume and favorable currency |
Paint Stores Group
Paint Stores Group sales rose 5.1%, with same-store sales up 4.2%. Management attributed the increase principally to mid-single-digit pricing and low-single-digit volume growth. Because same-store sales and volume reveal different information, investors should monitor both: pricing can lift revenue even when units are weak, while volume growth is a clearer indicator of demand.
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Consumer Brands Group
Consumer Brands grew 21.5%, but the release said the increase primarily reflected the Suvinil acquisition, higher North American sales and favorable currency translation. That composition means the headline percentage should not be treated as the same kind of organic growth reported by Paint Stores Group.
Performance Coatings Group
Performance Coatings sales increased 6.3%, supported by selling price and product mix, volume and favorable currency. Margin interpretation still requires attention to input costs and mix; sales growth alone does not imply proportional earnings growth.
What do cash flow, debt and capital returns show?
Sherwin-Williams generated $1.49 billion of net operating cash during the first six months of 2026 and returned $2.23 billion to shareholders through dividends and share repurchases over that same six-month period. The company repurchased 5.6 million shares in the first half and reported authorization to purchase another 24.0 million shares as of June 30, 2026. These figures come from the Q2 release and cover the six months ended June 30.
The company’s fiscal 2025 annual report gives a separate, year-end leverage snapshot: net debt was $10.664 billion and net debt to EBITDA was 2.4 times at December 31, 2025. That date does not match the first-half 2026 cash-flow and buyback period, so the numbers should not be combined as though they were measured on one date.
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For an investor, the useful questions are whether operating cash continues to cover capital spending, dividends and repurchases; whether debt rises or falls; and whether interest expense consumes more of operating profit. Q2 management specifically cited higher interest expense from increased borrowings and debt as a factor affecting results.
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What is SHW’s dividend?
On July 22, 2026, the board declared a regular quarterly dividend of $0.80 per common share. It was scheduled to be paid September 11, 2026, to shareholders of record on August 21, 2026 (dividend declaration).
Sherwin-Williams’ investor-relations materials state that the company had recorded 47 consecutive years of dividend increases as of December 31, 2025 (investor relations). A long increase streak describes the historical record; it does not promise a future increase or guarantee that any dividend will be maintained. Dividend income also depends on the share price paid and on taxes that apply to an individual investor.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What risks should SHW investors watch?
The company’s 2025 Form 10-K identifies several material risks. The most useful way to follow them is to connect each risk to an operating indicator in subsequent reports.
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- Cyclical demand: A prolonged economic downturn can weaken construction, maintenance, industrial and other end markets. Track Paint Stores same-store sales, volume and professional-market commentary.
- Raw-material and energy costs: Shortages or higher prices for chemicals, packaging, energy and logistics can pressure gross and segment margins. Q2 management said broad-based cost inflation continued across raw materials, energy, logistics and packaging.
- Pricing versus volume: The company announced an 8% Paint Stores Group price increase effective September 1, 2026. Price realization can support revenue, but it may also affect customer demand and does not automatically offset every cost increase. Watch subsequent volume, retention and margin results.
- Acquisition and integration exposure: Suvinil contributed materially to Consumer Brands’ sales growth, while Valspar-related amortization remains in the adjusted-EPS reconciliation. Follow organic growth, integration costs and the effect of purchase-accounting charges separately.
- Competition: Rival coatings suppliers and changing customer preferences can affect pricing, share and margins. Management’s reported mix, volume and price realization provide more information than total sales alone.
- Debt and interest expense: Substantial debt creates refinancing and interest-rate sensitivity. Compare net debt, net debt/EBITDA, cash generation and interest expense using the same reporting date.
- Capital-allocation trade-offs: Repurchases reduce share count but use cash that could otherwise reduce debt or fund investment. Evaluate buybacks alongside operating cash flow and leverage rather than viewing authorization alone as a benefit.
Chief Executive Officer Heidi G. Petz said in the July 28 release: “While customer sentiment and the leading indicators we track point to continued demand softness in the second half, we remain focused on the actions within our control.” This was management’s outlook at the release date, not an independently verified forecast.
How can an investor evaluate SHW without guessing a valuation?
The available company reports do not establish a fair value, target price or buy recommendation. A disciplined review can still be organized around measurable questions:
- Separate reported and adjusted earnings. Start with GAAP EPS, then identify each exclusion before using adjusted EPS.
- Decompose sales growth. Identify the portions attributable to price, volume, acquisitions, currency and mix for each segment.
- Check margin quality. Compare segment margins with raw-material, energy, labor, logistics, restructuring and amortization effects.
- Test cash conversion. Compare operating cash with net income, capital spending, dividends and repurchases over matching periods.
- Measure leverage at the same date. Use the latest balance-sheet debt and EBITDA figures together; do not mix year-end leverage with a later period’s cash flow.
- Review the dividend in context. Consider the declared per-share amount, payout coverage, debt obligations and the company’s stated capital-allocation priorities.
- Read the next release for changes. Focus on same-store sales, volume, pricing, margins, acquisition contribution, interest expense and updated guidance.
Where to find official SHW information
The company’s investor-relations site provides earnings releases, dividend announcements and filings. The SEC hosts the fiscal 2025 Form 10-K, including risk factors, debt disclosures and segment information. Use the most recent filing and earnings release when making decisions, because quarterly guidance and operating conditions can change.
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