Sherwin Williams (SHW) Operating Margin (2009 - 2026)
Sherwin Williams' Operating Margin came in at 18.18% for Q2 2026, up 0.65 percentage points from 17.53% a year earlier and up 3.87 percentage points from the prior quarter.
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Analysis
Sherwin Williams (SHW) Operating Margin (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Sherwin Williams reported Operating Margin of 16.36%, up 0.35 percentage points year-over-year; for FY2025, it came in at 16.21%, down 0.13 percentage points from FY2024.
- Operating Margin carries a five-year change of -1.25 percentage points (FY2020 to FY2025).
- Going back by year, Operating Margin was 16.33% in FY2024 (+0.32 pp), 16.02% in FY2023 (+2.50 pp), 13.52% in FY2022 (+0.17 pp) and 13.34% in FY2021 (-4.11 pp).
- The five-year range for quarterly Operating Margin is 2.74% (Q4 2021) to 19.42% (Q2 2024).
- Year-over-year, Operating Margin increased in four of the last eight quarters, with an average year-over-year change of -0.05 percentage points.
- The fastest year-over-year change in Operating Margin over five years came in Q4 2022 (a gain of 8.64 percentage points), and the weakest in Q4 2021 (a drop of 11.89 percentage points).
- Business Quant data shows SHW's Operating Margin at 14.31% (Q1 2026), 13.86% (Q4 2025) and 18.44% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Linde | 232.08 Bn | 213.65 Bn | 4.43 Bn | 27.49% |
| 2 | Corning | 113.97 Bn | 106.54 Bn | 1.63 Bn | 15.49% |
| 3 | Sherwin Williams | 81.98 Bn | 81.03 Bn | 3.34 Bn | 18.18% |
| 4 | Air Products & Chemicals | 67.40 Bn | 62.58 Bn | 1.04 Bn | -66.34% |
| 5 | LyondellBasell Industries | 41.35 Bn | 30.86 Bn | 2.04 Bn | 16.81% |
| 6 | Nutrien | 33.62 Bn | 30.45 Bn | 3.25 Bn | 16.44% |
| 7 | Ati | 24.94 Bn | 22.97 Bn | 309.80 Mn | 17.45% |
| 8 | Qnity Electronics | 24.80 Bn | 21.94 Bn | 666.00 Mn | 25.75% |
| 9 | Ppg Industries | 24.22 Bn | 16.88 Bn | 1.81 Bn | 14.73% |
| 10 | International Flavors & Fragrances | 23.27 Bn | 20.93 Bn | 853.00 Mn | 8.09% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 18.18% |
| Mar 31, 2026 | 14.31% |
| Dec 31, 2025 | 13.86% |
| Sep 30, 2025 | 18.44% |
| Jun 30, 2025 | 17.53% |
| Mar 31, 2025 | 14.42% |
| Dec 31, 2024 | 13.03% |
| Sep 30, 2024 | 18.40% |
| Jun 30, 2024 | 19.42% |
| Mar 31, 2024 | 13.62% |
| Dec 31, 2023 | 13.19% |
| Sep 30, 2023 | 18.96% |
| Jun 30, 2023 | 17.82% |
| Mar 31, 2023 | 13.37% |
| Dec 31, 2022 | 11.38% |
| Sep 30, 2022 | 16.20% |
| Jun 30, 2022 | 14.50% |
| Mar 31, 2022 | 11.35% |
| Dec 31, 2021 | 2.74% |
| Sep 30, 2021 | 14.97% |
API Access
Sherwin Williams Operating 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=operating-margin&ticker=SHW&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-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=operating-margin&ticker=SHW&period=max&api_key=YOUR_API_KEY");
const data = await res.json();