PPG

MKT CAP:$25B

PPG Industries, Inc.

Market Cap

$25B

Basic Materials·Chemicals - Specialty·🇺🇸 United States·NYSE

Materials·Chemicals·🇺🇸·NYSE

Stock Price

$117.44+$13.09 (+12.54%)

Apr 17, 2026

Company Details

PPG Industries, Inc. manufactures and distributes paints, coatings, and specialty materials worldwide. The company's Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and comm...

CEO

Timothy Knavish

IPO Date

Mar 17, 1980

Website

www.ppg.com

Key Metrics TTM

Revenue

$16.2B

— YoY

Net Income

$1.4B

EPS (Diluted)

$5.71

Free Cash Flow

$1.3B

Revenue / Share

$67.38

Gross Margin

39.8%

Operating Margin

11.1%

Net Margin

8.5%

FCF Margin

8.1%

P/S

1.5x

P/E

18.0x

Earnings Reports

Q4 2021

Apr 28, 2026

PENDING

FY 2025

Feb 19, 2026

$15.9BEPS $6.92

FY 2021

Feb 17, 2022

$16.8BEPS $6.01

Q3 2021

Oct 21, 2021

$4.4BEPS $1.43

Q2 2021

Jul 20, 2021

$4.4BEPS $1.80

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 17	$3.5B	$1.6B	$457M
Q1 18	$3.8B	$1.6B	$459M
Q4 18	$3.6B	$1.5B	$370M
Q2 21	$4.4B	$1.7B	$531M
Q3 21	$4.4B	$1.6B	$429M

Valuation

Quarter	P/S	P/E
Q1 17	—	—
Q1 18	—	—
Q4 18	—	—
Q2 21	1.6x	18.1x
Q3 21	1.5x	18.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 17	$9M	-$55M
Q1 18	-$228M	-$303M
Q4 18	$800M	$615M
Q2 21	$604M	$542M
Q3 21	$525M	$447M

Capital Expenditures

Quarter	CapEx
Q1 17	$64M
Q1 18	$75M
Q4 18	$185M
Q2 21	$62M
Q3 21	$78M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 21	+25.4%	+30.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 17	$9M	0.3%
Q1 18	$9M	0.2%
Q4 18	$16M	0.4%
Q2 21	$18M	0.4%
Q3 21	$4M	0.1%

OpEx Breakdown

Quarter	R&D	G&A
Q1 17	$110M	$904M
Q1 18	$112M	$906M
Q4 18	$105M	$855M
Q2 21	$107M	$955M
Q3 21	$114M	$950M

Revenue Segments

Quarter	Industrial Coatings Segment	Performance Coatings Segment
Q1 17	$1.5B	$2.0B
Q1 18	$1.6B	$2.2B
Q4 18	$1.5B	$2.1B
Q2 21	$1.6B	$2.7B
Q3 21	$1.6B	$2.8B

Revenue by Geography

Quarter	Asia Pacific	Emea	Latin America	North America
Q1 18	$630M	$1.2B	$386M	$1.6B
Q4 18	$656M	$1.1B	$434M	$1.5B
Q2 21	$730M	$1.5B	$414M	$1.8B
Q3 21	$758M	$1.4B	$440M	$1.8B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$960M	$73M	$1.0B
Q2 22	$931M	$61M	$992M
Q3 22	$1.0B	$60M	$1.1B
Q4 22	$1.1B	$55M	$1.2B
Q1 23	$1.4B	$56M	$1.5B
Q2 23	$1.2B	$68M	$1.3B
Q3 23	$1.2B	$64M	$1.3B
Q4 23	$1.5B	$75M	$1.6B
Q1 24	$1.2B	$54M	$1.2B
Q2 24	$1.1B	$61M	$1.2B
Q3 24	$1.3B	$71M	$1.3B
Q4 24	$1.3B	$88M	$1.4B
Q1 25	$1.8B	$63M	$1.9B
Q2 25	$1.6B	$64M	$1.6B
Q3 25	$1.8B	$76M	$1.9B
Q4 25	$2.2B	$56M	$2.2B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 17	259M	—	—
Q1 18	251M	-3.0%	—
Q4 18	240M	-4.6%	—
Q2 21	240M	0.0%	—
Q3 21	240M	0.0%	-7.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 17	$74.2K	47K
Q1 18	$134.1K	28K
Q4 18	$131.1K	28K
Q2 21	$165.1K	26K
Q3 21	$165.6K	26K

Revenue / Employee