PPG vs ITW vs AXTA Stock Comparison

Ppg Industries, Illinois Tool Works and Axalta Coating Systems Prices as of Oct 23, 2026 Peers: Industry group
1 more company in this comparison (ASH) Create a free account to keep reading and compare up to 10 companies.
PPG Ppg Industries Inc
$110.60 +3.2% 1M +6.9% 1Y
Market cap
$24.51B
P/E
15.6x
Revenue (TTM)
$16.42B
Div. yield
0.03%
Paints and Coatings Basic Materials
4 wins
ITW Illinois Tool Works Inc
$275.75 +0.8% 1M +7.1% 1Y
Market cap
$79.10B
P/E
24.8x
Revenue (TTM)
$16.47B
Div. yield
0.02%
Industrial Machinery Industrials
6 wins

Head to Head

12 decided of 12

Illinois Tool Works leads on 6 of the 12 questions below (Illinois Tool Works 6, Ppg Industries 4, Axalta Coating Systems 2). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionPPGITWAXTALeader
Larger companyMarket capitalisation $24.51B $79.10B $7.32B ITW
Cheaper on earningsLower P/E, profitable companies only 15.6x 24.8x 21.0x PPG
Cheaper on forward earningsLower price / next fiscal year consensus EPS 13.5x 25.8x 12.6x AXTA
Faster revenue growthRevenue growth, trailing twelve months +5.0% +4.3% -0.9% PPG
More profitableNet margin, trailing twelve months 9.6% 19.4% 6.8% ITW
Better return on capitalReturn on invested capital 10.9% 27.1% 8.2% ITW
Less leveragedLower net debt / EBITDA 1.9x 1.9x 2.5x ITW
Higher dividend yieldTrailing dividend yield 0.03% 0.02% 0.00% PPG
Better 1-year returnPrice return, last 12 months +6.9% +7.1% +18.4% AXTA
Better 5-year returnAnnualised price return, 5 years -7.3%/yr +4.2%/yr +0.9%/yr ITW
Less volatileAnnualised volatility, 1 year 30.6% 21.8% 32.2% ITW
Higher overall scoreMean of the five percentile scores vs peers 68/100 48/100 61/100 PPG

Percentile Scorecard

PPGITWAXTA

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisPPGITWAXTA
Valuation 66 #33 of 94 24 #154 of 203 68 #31 of 94
Growth 74 #25 of 92 33 #127 of 188 64 #34 of 92
Profitability 86 #13 of 89 100 #2 of 187 77 #21 of 89
Financial Health 47 #52 of 97 23 #172 of 222 35 #63 of 97
Shareholder Returns 70 #22 of 70 60 #62 of 153 –
Overall 68 48 61
  • PPG ranked among 99 companies in Chemicals
  • ITW ranked among 222 companies in Machinery
  • AXTA ranked among 99 companies in Chemicals

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodPPGITWAXTASPY
1 month +3.2%+0.8%+5.2% -1.0%
3 months -4.7%-2.6%+4.2% +2.9%
6 months +0.7%+2.4%+15.1% +6.4%
Year to date +7.9%+12.0%+5.7% +11.4%
1 year +6.9%+7.1%+18.4% +13.1%
3 years -10.0%+23.6%+33.2% +79.4%
3 years, per year -3.4%+7.3%+10.0% +21.5%
5 years -31.6%+22.8%+4.4% +67.7%
5 years, per year -7.3%+4.2%+0.9% +10.9%
10 years +19.7%+143.9%+30.6% +255.2%
10 years, per year +1.8%+9.3%+2.7% +13.5%

Risk

MeasurePPGITWAXTASPY
Volatility, 1Y 30.6%21.8%32.2% 12.7%
Downside volatility, 1Y 31.4%21.8%29.6% 12.7%
Beta vs S&P 500, 1Y 1.040.451.08 1.00
Return / volatility, 1Y 0.220.330.57 1.03
Max drawdown, 5Y -47.0%-28.9%-38.4% -25.4%
From 52-week high -15.9%-8.0%-10.6% -2.5%
52-week high $131.56$299.60$38.19 $779.14
52-week low $94.34$241.07$25.44 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultiplePPGITWAXTA
P/E now vs peer median 15.7xmedian 21.5x 24.7xmedian 25.9x 20.9xmedian 21.5x
P/S now vs peer median 1.5xmedian 1.4x 4.8xmedian 1.9x 1.4xmedian 1.4x
EV/EBITDA now vs peer median 11.0xmedian 12.4x 18.3xmedian 13.7x 9.8xmedian 12.4x
P/FCF now vs peer median 17.5xmedian 15.5x 26.9xmedian 21.1x 14.8xmedian 15.5x
P/B now vs peer median 2.9xmedian 1.6x 27.1xmedian 2.3x 2.8xmedian 1.6x
PEG now vs peer median 1.95median 1.70 8.36median 1.19 1.26median 1.70

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsPPGITWAXTA
Revenue $16.42B $16.47B $5.15B
Gross profit $6.72B $7.27B $1.75B
Operating income $2.18B $4.36B $679.00M
Net income $1.57B $3.19B $350.00M
Free cash flow $1.41B $2.92B $495.00M
R&D $458.00M – $70.00M
EPS (diluted) $7.02 $11.13 $1.63
Cash & equivalents $1.52B $839.00M $633.00M
Total debt $6.89B $9.69B $3.07B
Shares (diluted) 223.90M 287.00M 214.70M
Enterprise value $17.16B $75.66B $4.82B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricPPGITWAXTA
P/E 15.7x 24.7x 20.9x
P/FCF 17.5x 26.9x 14.8x
P/Operating cash flow 11.4x 23.6x 10.4x
P/S 1.5x 4.8x 1.4x
P/B 2.9x 27.1x 2.8x
P/Tangible book 3.7x 33.6x 4.9x
EV/EBITDA 11.0x 18.3x 9.8x
EV/EBIT 13.7x 20.0x 14.3x
EV/Revenue 1.8x 5.3x 1.9x
EV/FCF 21.2x 29.9x 19.7x
EV/Operating cash flow 13.8x 26.2x 13.9x
PEG (3Y EPS CAGR) 1.95 8.36 1.26

Growth

14 metrics
MetricPPGITWAXTA
Revenue growth (1Y) 5.0% 4.3% -0.9%
Revenue CAGR (3Y) 1.2% 0.8% 0.6%
Gross profit growth (1Y) 3.8% 5.3% -2.6%
Gross profit CAGR (3Y) 3.4% 2.7% 5.2%
Operating income growth (1Y) 1.6% 6.4% -9.3%
Operating income CAGR (3Y) 3.1% 3.4% 11.0%
Net income growth (1Y) 56.2% -5.1% -21.9%
Net income CAGR (3Y) 5.5% 1.0% 15.2%
EPS growth (1Y) 58.1% -3.1% -20.4%
EPS CAGR (3Y) 8.0% 3.0% 16.6%
Operating cash flow growth (1Y) 50.0% 5.8% 17.6%
Operating cash flow CAGR (3Y) 7.2% 3.1% 20.1%
Free cash flow growth (1Y) 85.4% 7.2% 19.9%
Free cash flow CAGR (3Y) 2.9% 4.1% 25.3%

Profitability

14 metrics
MetricPPGITWAXTA
Gross margin 40.9% 44.2% 34.0%
EBITDA margin 16.5% 28.9% 19.2%
Operating margin 13.3% 26.5% 13.2%
Pretax margin 12.4% 25.0% 10.0%
Net margin 9.6% 19.4% 6.8%
FCF margin 8.6% 17.7% 9.6%
Operating cash flow margin 13.2% 20.2% 13.6%
Return on equity 18.8% 104.3% 13.9%
Return on assets 7.1% 19.5% 4.6%
Return on invested capital 10.9% 27.1% 8.2%
Return on capital employed 12.7% 41.9% 12.0%
Asset turnover 0.7x 1.0x 0.7x
Cash conversion (OCF / net income) 1.4x 1.0x 2.0x
Stock comp / revenue 0.2% 0.4% 0.5%

Financial Health

11 metrics
MetricPPGITWAXTA
Debt / assets 30.6% 58.8% 39.8%
Debt / equity 0.8x 3.3x 1.2x
Net debt / EBITDA 1.9x 1.9x 2.5x
Debt / FCF 4.9x 3.3x 6.2x
Liabilities / assets 61.9% 82.4% 66.6%
Equity / assets 38.1% 17.6% 33.4%
Interest coverage 8.5x 14.5x 4.2x
Current ratio 1.6x 1.1x 1.5x
Quick ratio 1.1x 0.7x 1.0x
Cash ratio 0.3x 0.1x 0.3x
Altman Z-score 3.72 8.00 2.38

Shareholder Returns

7 metrics
MetricPPGITWAXTA
Dividend yield 2.6% 2.4% –
Net buyback yield 1.7% 2.3% –
Shareholder yield 4.3% 4.7% –
Payout ratio (earnings) 40.2% 57.4% –
Payout ratio (FCF) 44.8% 62.8% –
Dividend growth (1Y) 1.9% 5.5% –
Dividend CAGR (3Y) 3.0% 5.1% –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusPPGITWAXTA
Forward P/E 13.5xFY2026 25.8xFY2026 12.6xFY2026
EPS, next fiscal year $8.19FY2026 $10.67FY2026 $2.72FY2026
EPS growth, next FY +8.0%FY2026 +1.7%FY2026 +9.2%FY2026
EPS growth, the year after +11.0% +19.3% +1.5%
Revenue, next fiscal year $17.60BFY2026 $16.46BFY2026 $5.37BFY2026
Revenue growth, next FY +10.8%FY2026 +2.6%FY2026 +4.9%FY2026
Revenue growth, the year after -6.7% +11.4% -2.7%
PPG estimates →ITW estimates →AXTA estimates →

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersPPGITWAXTA
Held by institutions 90.3% 84.9% 100.0%
Institutions holding 1,095 1,969 358
Change in shares held, QoQ +0.1% +0.8% +1.0%
Institutions buying 519 846 162
Institutions selling 356 750 144
Buyers to sellers 1.46 1.13 1.13
PPG holders →ITW holders →AXTA holders →

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

PPGITWAXTA
PPG 1.00 0.61 0.72
ITW 0.61 1.00 0.47
AXTA 0.72 0.47 1.00

Add a Peer

Largest companies in the same industry
PPG · Paints and Coatings
+SHWSherwin Williams +DOWDow +AMRZAmrize +MASMasco +MKSIMks +RPMRpm International +ESIElement Solutions +ASHAshland
Plot all 22 Paints and Coatings stocks → Plot all 169 Industrial Machinery stocks →

Related Comparisons

PPG vs SHWSherwin Williams PPG vs DOWDow PPG vs AMRZAmrize PPG vs MASMasco

Frequently Asked Questions

Which is bigger, PPG, ITW and AXTA?

Illinois Tool Works (ITW) is the largest by market capitalisation: Ppg Industries (PPG) $24.51B, Illinois Tool Works (ITW) $79.10B, Axalta Coating Systems (AXTA) $7.32B.

Which stock is cheaper, PPG, ITW and AXTA?

Ppg Industries (PPG) trades on the lowest price-to-earnings ratio (Ppg Industries (PPG) 15.6x, Illinois Tool Works (ITW) 24.8x, Axalta Coating Systems (AXTA) 21.0x). On next year's consensus earnings, Axalta Coating Systems (AXTA) is cheapest (Ppg Industries (PPG) 13.5x, Illinois Tool Works (ITW) 25.8x, Axalta Coating Systems (AXTA) 12.6x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Ppg Industries (PPG) grew revenue fastest over the trailing twelve months: Ppg Industries (PPG) +5.0%, Illinois Tool Works (ITW) +4.3%, Axalta Coating Systems (AXTA) -0.9%.

Which company is more profitable?

Illinois Tool Works (ITW) has the highest net margin (Ppg Industries (PPG) 9.6%, Illinois Tool Works (ITW) 19.4%, Axalta Coating Systems (AXTA) 6.8%). On return on invested capital, Illinois Tool Works (ITW) leads (Ppg Industries (PPG) 10.9%, Illinois Tool Works (ITW) 27.1%, Axalta Coating Systems (AXTA) 8.2%).

Which stock has performed better?

Over the past year Axalta Coating Systems (AXTA) returned the most: Ppg Industries (PPG) +6.9%, Illinois Tool Works (ITW) +7.1%, Axalta Coating Systems (AXTA) +18.4%. Over five years, Illinois Tool Works (ITW) compounded fastest (Ppg Industries (PPG) -7.3%/yr, Illinois Tool Works (ITW) +4.2%/yr, Axalta Coating Systems (AXTA) +0.9%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Ppg Industries (PPG) has the highest dividend yield: Ppg Industries (PPG) 0.03%, Illinois Tool Works (ITW) 0.02%, Axalta Coating Systems (AXTA) 0.00%. Axalta Coating Systems (AXTA) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Illinois Tool Works (ITW) has been the steadiest (Ppg Industries (PPG) 30.6%, Illinois Tool Works (ITW) 21.8%, Axalta Coating Systems (AXTA) 32.2%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, PPG, ITW and AXTA?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Illinois Tool Works (ITW) leads on 6. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.