Sherwin Williams (SHW) Gross Margin (2009 - 2026)
Sherwin Williams' Gross Margin was 49.17% in Q2 2026, down 0.22 percentage points from 49.38% a year earlier but up 0.10 percentage points from the prior quarter.
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Analysis
Sherwin Williams (SHW) Gross Margin (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Sherwin Williams' Gross Margin was 48.98% through Jun 30, 2026, up 0.12 percentage points year-over-year; for FY2025, it came in at 48.85%, up 0.38 percentage points from FY2024.
- Gross Margin has now increased for three consecutive years, with a five-year change of +1.56 percentage points (FY2020 to FY2025).
- In earlier years, Gross Margin was 48.47% in FY2024 (+1.80 pp), 46.67% in FY2023 (+4.57 pp), 42.10% in FY2022 (-0.73 pp) and 42.83% in FY2021 (-4.45 pp).
- Quarterly Gross Margin has moved between 39.47% (Q4 2021) and 49.38% (Q2 2025) over five years.
- Compared with a year earlier, Gross Margin was higher in six of the last eight quarters, with an average year-over-year change of +0.46 percentage points.
- The best year-over-year quarter for Gross Margin over five years was Q4 2023 (a gain of 5.82 percentage points); the worst was Q4 2021 (a drop of 7.95 percentage points).
- Per Business Quant data, SHW's Gross Margin in the three quarters before Q2 2026 was 49.07% (Q1 2026), 48.47% (Q4 2025) and 49.16% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Linde | 231.24 Bn | 212.82 Bn | 4.43 Bn | 47.67% |
| 2 | Corning | 116.99 Bn | 109.56 Bn | 1.63 Bn | 36.14% |
| 3 | Sherwin Williams | 81.96 Bn | 81.00 Bn | 3.34 Bn | 49.17% |
| 4 | Air Products & Chemicals | 67.42 Bn | 62.60 Bn | 1.04 Bn | 32.77% |
| 5 | LyondellBasell Industries | 40.46 Bn | 29.96 Bn | 2.04 Bn | 22.21% |
| 6 | Nutrien | 33.03 Bn | 29.86 Bn | 3.25 Bn | 30.07% |
| 7 | Qnity Electronics | 25.29 Bn | 22.43 Bn | 666.00 Mn | 46.61% |
| 8 | Ati | 24.84 Bn | 22.87 Bn | 309.80 Mn | 24.57% |
| 9 | Ppg Industries | 24.44 Bn | 17.10 Bn | 1.81 Bn | 40.22% |
| 10 | International Flavors & Fragrances | 23.12 Bn | 20.78 Bn | 853.00 Mn | 43.65% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 49.17% |
| Mar 31, 2026 | 49.07% |
| Dec 31, 2025 | 48.47% |
| Sep 30, 2025 | 49.16% |
| Jun 30, 2025 | 49.38% |
| Mar 31, 2025 | 48.23% |
| Dec 31, 2024 | 48.58% |
| Sep 30, 2024 | 49.13% |
| Jun 30, 2024 | 48.85% |
| Mar 31, 2024 | 47.16% |
| Dec 31, 2023 | 48.53% |
| Sep 30, 2023 | 47.68% |
| Jun 30, 2023 | 46.03% |
| Mar 31, 2023 | 44.48% |
| Dec 31, 2022 | 42.71% |
| Sep 30, 2022 | 42.82% |
| Jun 30, 2022 | 41.70% |
| Mar 31, 2022 | 41.07% |
| Dec 31, 2021 | 39.47% |
| Sep 30, 2021 | 41.57% |
API Access
Sherwin Williams Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=SHW&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "SHW", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=SHW&period=max&api_key=YOUR_API_KEY");
const data = await res.json();