Sherwin Williams (SHW) Return on Invested Capital [ROIC] (2009 - 2026)
Sherwin Williams' Return on Invested Capital [ROIC] came in at 19.47% for Q3 2026, up 0.79 percentage points from 18.68% a year earlier and up 0.28 percentage points from the prior quarter.
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Analysis
Sherwin Williams (SHW) Return on Invested Capital [ROIC] (2009 - 2026) Analysis & Trends
For FY2025, Sherwin Williams' Return on Invested Capital [ROIC] was 19.99%, down 1.32 percentage points from FY2024.
- Return on Invested Capital [ROIC] carries a five-year change of -0.91 percentage points (FY2020 to FY2025).
- Going back by year, Return on Invested Capital [ROIC] was 21.31% in FY2024 (+0.48 pp), 20.83% in FY2023 (+2.55 pp), 18.27% in FY2022 (-0.15 pp) and 18.42% in FY2021 (-2.49 pp).
- The Q3 2026 figure represents the highest quarterly Return on Invested Capital [ROIC] since Q1 2025.
- Year-over-year, Return on Invested Capital [ROIC] increased in two of the last eight quarters, with an average year-over-year change of -0.75 percentage points.
- The fastest year-over-year change in Return on Invested Capital [ROIC] over five years came in Q3 2023 (a gain of 4.21 percentage points), and the weakest in Q2 2022 (a drop of 8.11 percentage points).
- Business Quant data shows SHW's Return on Invested Capital [ROIC] at 19.18% (Q2 2026), 18.90% (Q1 2026) and 18.72% (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Linde | 241.51 Bn | 225.21 Bn | 4.44 Bn | 10.33% |
| 2 | Corning | 98.25 Bn | 90.55 Bn | 1.81 Bn | 11.02% |
| 3 | Sherwin Williams | 84.58 Bn | 83.60 Bn | 3.28 Bn | 19.47% |
| 4 | Air Products & Chemicals | 70.48 Bn | 73.35 Bn | - | - |
| 5 | LyondellBasell Industries | 41.62 Bn | 29.79 Bn | 1.50 Bn | 8.97% |
| 6 | Nutrien | 34.33 Bn | 30.91 Bn | 1.86 Bn | 13.43% |
| 7 | Ppg Industries | 27.05 Bn | 20.12 Bn | 1.76 Bn | 11.09% |
| 8 | Ati | 24.87 Bn | 22.95 Bn | 380.20 Mn | 16.48% |
| 9 | Qnity Electronics | 24.73 Bn | 21.17 Bn | 743.00 Mn | 8.70% |
| 10 | Dow | 23.92 Bn | 9.36 Bn | 1.38 Bn | -2.60% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 19.47% |
| Jun 30, 2026 | 19.18% |
| Mar 31, 2026 | 18.90% |
| Dec 31, 2025 | 18.72% |
| Sep 30, 2025 | 18.68% |
| Jun 30, 2025 | 19.14% |
| Mar 31, 2025 | 20.42% |
| Dec 31, 2024 | 20.76% |
| Sep 30, 2024 | 20.55% |
| Jun 30, 2024 | 20.46% |
| Mar 31, 2024 | 20.49% |
| Dec 31, 2023 | 20.79% |
| Sep 30, 2023 | 20.02% |
| Jun 30, 2023 | 18.87% |
| Mar 31, 2023 | 17.62% |
| Dec 31, 2022 | 17.54% |
| Sep 30, 2022 | 15.81% |
| Jun 30, 2022 | 14.96% |
| Mar 31, 2022 | 16.28% |
| Dec 31, 2021 | 18.60% |
API Access
Sherwin Williams Return on Invested Capital [ROIC] 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=return-on-invested-capital-%5Broic%5D&ticker=SHW&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "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=return-on-invested-capital-%5Broic%5D&ticker=SHW&period=max&api_key=YOUR_API_KEY");
const data = await res.json();