SHW vs DOW vs PPG Stock Comparison

Sherwin Williams, Dow and Ppg Industries Prices as of Oct 29, 2026 Peers: Industry group
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SHW Sherwin Williams Co
$330.18 -0.1% 1M -4.5% 1Y
Market cap
$80.02B
P/E
29.9x
Revenue (TTM)
$24.91B
Div. yield
–
Paints and Coatings Basic Materials
6 wins
DOW Dow Inc.
$33.62 +21.8% 1M +35.2% 1Y
Market cap
$25.06B
P/E
–
Revenue (TTM)
$42.61B
Div. yield
0.04%
Commodity Chemicals Basic Materials
3 wins
PPG Ppg Industries Inc
$120.05 +13.3% 1M +21.1% 1Y
Market cap
$26.56B
P/E
16.9x
Revenue (TTM)
$16.69B
Div. yield
0.02%
Paints and Coatings Basic Materials
3 wins

Head to Head

12 decided of 12

Sherwin Williams leads on 6 of the 12 questions below (Sherwin Williams 6, Ppg Industries 3, Dow 3). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionSHWDOWPPGLeader
Larger companyMarket capitalisation $80.02B $25.06B $26.56B SHW
Cheaper on earningsLower P/E, profitable companies only 29.9x -27.9x 16.9x PPG
Cheaper on forward earningsLower price / next fiscal year consensus EPS 26.0x 12.6x 14.7x DOW
Faster revenue growthRevenue growth, trailing twelve months +7.0% +4.2% +6.4% SHW
More profitableNet margin, trailing twelve months 10.7% -2.1% 9.4% SHW
Better return on capitalReturn on invested capital 19.5% 2.0% 11.1% SHW
Less leveragedLower net debt / EBITDA 2.4x 3.9x 1.9x PPG
Higher dividend yieldTrailing dividend yield 0.00% 0.04% 0.02% DOW
Better 1-year returnPrice return, last 12 months -4.5% +35.2% +21.1% DOW
Better 5-year returnAnnualised price return, 5 years +0.8%/yr -9.7%/yr -5.7%/yr SHW
Less volatileAnnualised volatility, 1 year 27.6% 41.7% 30.4% SHW
Higher overall scoreMean of the five percentile scores vs peers 54/100 52/100 65/100 PPG

Percentile Scorecard

SHWDOWPPG

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

AxisSHWDOWPPG
Valuation 28 #68 of 94 80 #20 of 94 60 #38 of 94
Growth 64 #34 of 92 57 #40 of 92 68 #30 of 92
Profitability 97 #4 of 86 47 #46 of 86 84 #15 of 86
Financial Health 24 #71 of 93 32 #64 of 93 45 #52 of 93
Shareholder Returns 60 #29 of 71 44 #40 of 71 70 #22 of 71
Overall 54 52 65
  • SHW ranked among 99 companies in Chemicals
  • DOW ranked among 99 companies in Chemicals
  • PPG ranked among 99 companies in Chemicals

Price Performance

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

Returns

PeriodSHWDOWPPGSPY
1 month -0.1%+21.8%+13.3% +0.7%
3 months -4.3%+11.8%+7.1% +3.7%
6 months +2.7%-17.0%+10.6% +7.1%
Year to date +1.9%+43.8%+17.2% +12.8%
1 year -4.5%+35.2%+21.1% +11.9%
3 years +40.3%-30.5%-1.5% +85.2%
3 years, per year +11.9%-11.4%-0.5% +22.8%
5 years +4.3%-39.9%-25.2% +67.6%
5 years, per year +0.8%-9.7%-5.7% +10.9%
10 years +304.7%—+29.3% +262.0%
10 years, per year +15.0%—+2.6% +13.7%

Risk

MeasureSHWDOWPPGSPY
Volatility, 1Y 27.6%41.7%30.4% 12.7%
Downside volatility, 1Y 25.4%38.0%30.2% 12.6%
Beta vs S&P 500, 1Y 0.82-0.321.05 1.00
Return / volatility, 1Y -0.160.840.69 0.94
Max drawdown, 5Y -42.9%-70.8%-47.0% -25.4%
From 52-week high -11.4%-19.7%-8.7% -1.2%
52-week high $372.60$41.87$131.56 $779.14
52-week low $293.00$20.95$94.34 $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.

MultipleSHWDOWPPG
P/E now vs peer median 29.7xmedian 21.0x -27.2xmedian 21.0x 17.0xmedian 21.0x
P/S now vs peer median 3.2xmedian 1.4x 0.6xmedian 1.4x 1.6xmedian 1.4x
EV/EBITDA now vs peer median 19.1xmedian 12.9x 10.9xmedian 12.9x 11.5xmedian 12.9x
P/FCF now vs peer median 25.9xmedian 15.5x 11.5xmedian 15.5x 20.7xmedian 15.5x
P/B now vs peer median 20.1xmedian 1.7x 1.4xmedian 1.7x 3.1xmedian 1.7x
PEG now vs peer median 5.31median 1.68 0.70median 1.68 3.03median 1.68

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 monthsSHWDOWPPG
Revenue $24.91B $42.61B $16.69B
Gross profit $12.11B $4.73B $6.83B
Operating income $4.03B $720.00M $2.24B
Net income $2.68B -$595.00M $1.57B
Free cash flow $3.08B $2.11B $1.28B
R&D – $741.00M $458.00M
EPS (diluted) $11.02 $-1.23 $7.03
Cash & equivalents $264.20M $4.14B $1.59B
Total debt $11.80B $17.54B $6.84B
Shares (diluted) 242.80M 727.40M 223.20M
Enterprise value $79.04B $9.01B $19.49B

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
MetricSHWDOWPPG
P/E 29.7x -27.2x 17.0x
P/FCF 25.9x 11.5x 20.7x
P/Operating cash flow 21.7x 5.3x 13.0x
P/S 3.2x 0.6x 1.6x
P/B 20.1x 1.4x 3.1x
P/Tangible book 343.3x 1.5x 3.9x
EV/EBITDA 19.1x 10.9x 11.5x
EV/EBIT 22.7x 52.4x 14.2x
EV/Revenue 3.7x 0.9x 1.9x
EV/FCF 29.7x 17.8x 24.7x
EV/Operating cash flow 24.8x 8.2x 15.5x
PEG (3Y EPS CAGR) 5.31 0.70 3.03

Growth

14 metrics
MetricSHWDOWPPG
Revenue growth (1Y) 7.0% 4.2% 6.4%
Revenue CAGR (3Y) 2.7% -2.4% 1.3%
Gross profit growth (1Y) 6.4% 62.1% 5.4%
Gross profit CAGR (3Y) 5.1% -2.5% 2.6%
Operating income growth (1Y) 7.9% 685.4% 4.1%
Operating income CAGR (3Y) 3.9% -30.9% 1.4%
Net income growth (1Y) 4.1% 40.6% 59.8%
Net income CAGR (3Y) 3.4% -34.3% 2.9%
EPS growth (1Y) 6.7% 21.6% 60.0%
EPS CAGR (3Y) 5.6% -38.7% 5.6%
Operating cash flow growth (1Y) 11.8% 190.9% 46.2%
Operating cash flow CAGR (3Y) 4.3% -6.5% -1.4%
Free cash flow growth (1Y) 26.8% 279.8% 79.3%
Free cash flow CAGR (3Y) 8.0% -13.8% -7.8%

Profitability

14 metrics
MetricSHWDOWPPG
Gross margin 48.6% 11.1% 40.9%
EBITDA margin 19.2% 8.2% 16.6%
Operating margin 16.2% 1.7% 13.4%
Pretax margin 14.0% -1.0% 12.6%
Net margin 10.7% -2.1% 9.4%
FCF margin 12.4% 5.0% 7.7%
Operating cash flow margin 14.8% 10.8% 12.3%
Return on equity 68.3% -3.4% 18.5%
Return on assets 9.9% -1.0% 7.0%
Return on invested capital 19.5% 2.0% 11.1%
Return on capital employed 23.6% 1.4% 12.9%
Asset turnover 0.9x 0.7x 0.7x
Cash conversion (OCF / net income) 1.4x -7.7x 1.3x
Stock comp / revenue 0.5% – 0.3%

Financial Health

11 metrics
MetricSHWDOWPPG
Debt / assets 43.7% 28.8% 30.3%
Debt / equity 3.0x 1.0x 0.8x
Net debt / EBITDA 2.4x 3.9x 1.9x
Debt / FCF 3.8x 8.3x 5.3x
Liabilities / assets 85.3% 71.1% 61.8%
Equity / assets 14.7% 28.9% 38.2%
Interest coverage 7.5x 0.8x 8.7x
Current ratio 0.7x 1.8x 1.6x
Quick ratio 0.4x 1.0x 1.1x
Cash ratio 0.0x 0.4x 0.3x
Altman Z-score 3.51 1.63 3.84

Shareholder Returns

7 metrics
MetricSHWDOWPPG
Dividend yield 1.0% 4.2% 2.4%
Net buyback yield 2.9% – 1.6%
Shareholder yield 3.9% 4.2% 4.0%
Payout ratio (earnings) – -169.6% 40.8%
Payout ratio (FCF) – 47.7% 50.1%
Dividend growth (1Y) – -41.7% 2.4%
Dividend CAGR (3Y) – -20.1% 2.9%

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.

ConsensusSHWDOWPPG
Forward P/E 26.0xFY2026 12.6xFY2026 14.7xFY2026
EPS, next fiscal year $12.68FY2026 $2.67FY2026 $8.18FY2026
EPS growth, next FY +10.9%FY2026 – +7.9%FY2026
EPS growth, the year after -0.4% -33.3% +10.6%
Revenue, next fiscal year $23.55BFY2026 $41.26BFY2026 $17.59BFY2026
Revenue growth, next FY -0.1%FY2026 +3.2%FY2026 +10.7%FY2026
Revenue growth, the year after +4.0% +9.6% -6.7%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersSHWDOWPPG
Held by institutions 82.7% 77.8% 90.3%
Institutions holding 1,741 1,209 1,097
Change in shares held, QoQ +3.3% +9.9% +0.1%
Institutions buying 747 549 521
Institutions selling 718 451 356
Buyers to sellers 1.04 1.22 1.46

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.

SHWDOWPPG
SHW 1.00 -0.14 0.73
DOW -0.14 1.00 -0.10
PPG 0.73 -0.10 1.00

Add a Peer

Largest companies in the same industry

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Frequently Asked Questions

Which is bigger, SHW, DOW and PPG?

Sherwin Williams (SHW) is the largest by market capitalisation: Sherwin Williams (SHW) $80.02B, Dow (DOW) $25.06B, Ppg Industries (PPG) $26.56B.

Which stock is cheaper, SHW, DOW and PPG?

Ppg Industries (PPG) trades on the lowest price-to-earnings ratio (Sherwin Williams (SHW) 29.9x, Dow (DOW) -27.9x, Ppg Industries (PPG) 16.9x). On next year's consensus earnings, Dow (DOW) is cheapest (Sherwin Williams (SHW) 26.0x, Dow (DOW) 12.6x, Ppg Industries (PPG) 14.7x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Sherwin Williams (SHW) grew revenue fastest over the trailing twelve months: Sherwin Williams (SHW) +7.0%, Dow (DOW) +4.2%, Ppg Industries (PPG) +6.4%.

Which company is more profitable?

Sherwin Williams (SHW) has the highest net margin (Sherwin Williams (SHW) 10.7%, Dow (DOW) -2.1%, Ppg Industries (PPG) 9.4%). On return on invested capital, Sherwin Williams (SHW) leads (Sherwin Williams (SHW) 19.5%, Dow (DOW) 2.0%, Ppg Industries (PPG) 11.1%).

Which stock has performed better?

Over the past year Dow (DOW) returned the most: Sherwin Williams (SHW) -4.5%, Dow (DOW) +35.2%, Ppg Industries (PPG) +21.1%. Over five years, Sherwin Williams (SHW) compounded fastest (Sherwin Williams (SHW) +0.8%/yr, Dow (DOW) -9.7%/yr, Ppg Industries (PPG) -5.7%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Dow (DOW) has the highest dividend yield: Sherwin Williams (SHW) 0.00%, Dow (DOW) 0.04%, Ppg Industries (PPG) 0.02%. Sherwin Williams (SHW) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Sherwin Williams (SHW) has been the steadiest (Sherwin Williams (SHW) 27.6%, Dow (DOW) 41.7%, Ppg Industries (PPG) 30.4%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, SHW, DOW and PPG?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Sherwin Williams (SHW) 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.