The Sherwin-Williams Company (SHW) Balance Sheet
SHW balance sheet, 2025
December 31, 2025 · U.S. dollars$25.90B assets = $21.30B liabilities + $4.60B equity
Both columns are drawn to the same scale: what SHW owns equals what it owes plus shareholders’ equity. Hover a block for its value.
SHW financial health
Descriptive bands, not a rating. Fiscal 2025.
SHW balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $6.75B2016 | $25.90B2025 | +16.1%/yr | |
| Total liabilities | $4.87B2016 | $21.30B2025 | +17.8%/yr | |
| Shareholders’ equity | $1.88B2016 | $4.60B2025 | +10.5%/yr | |
| Cash & short-term investments | $889.8M2016 | $207.2M2025 | −14.9%/yr | |
| Total debt | $1.95B2016 | $12.94B2025 | +23.4%/yr | |
| Net cash (debt) | −$1.06B2016 | −$12.74B2025 | −$11.7B | |
| Working capital | $798.1M2016 | −$912.9M2025 | −$1.7B | |
| Book value per share | $6.632016 | $18.482025 | +12.1%/yr | |
| Current ratio | 1.282016 | 0.872025 | −0.41 | |
| Debt / equity | 1.042016 | 2.812025 | +1.78 | |
| Shares outstanding | 283.5M2016 | 248.8M2025 | −1.4%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
SHW assets
SHW liabilities and equity
SHW debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
SHW balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $207.2M | $210.4M | $276.8M | $198.8M | $165.7M | $226.6M | $161.8M | $155.5M | $204.2M | $889.8M |
| Cash & equivalents | $207.2M | $210.4M | $276.8M | $198.8M | $165.7M | $226.6M | $161.8M | $155.5M | $204.2M | $889.8M |
| Short-term investments | — | — | — | — | — | — | — | — | $0 | $0 |
| Receivables | $2.79B | $2.39B | $2.47B | $2.56B | $2.35B | $2.08B | $2.09B | $2.02B | $2.10B | $1.23B |
| Inventory | $2.32B | $2.29B | $2.33B | $2.63B | $1.93B | $1.80B | $1.89B | $1.82B | $1.74B | $1.07B |
| Other current assets | $690.8M | $513.5M | $438.4M | $518.8M | $608.4M | $482.6M | $491.4M | $354.9M | $355.7M | $438.2M |
| Total current assets | $6.01B | $5.40B | $5.51B | $5.91B | $5.05B | $4.59B | $4.63B | $4.34B | $4.41B | $3.63B |
| Property, plant & equipment (net) | $6.13B | $5.49B | $4.72B | $4.07B | $3.69B | $3.60B | $3.52B | $1.78B | $1.88B | $1.10B |
| Goodwill & intangible assets | $12.00B | $11.11B | $11.51B | $11.59B | $11.14B | $11.52B | $11.74B | $12.16B | $12.82B | $1.38B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $176.2M | $181.2M | $189.4M | $193.4M |
| Other non-current assets | $1.76B | $1.63B | $1.21B | $1.03B | $789.0M | $694.3M | $428.2M | $673.6M | $609.3M | $454.0M |
| Total assets | $25.90B | $23.63B | $22.95B | $22.59B | $20.67B | $20.40B | $20.50B | $19.13B | $19.90B | $6.75B |
| Liabilities | ||||||||||
| Accounts payable | $2.35B | $2.25B | $2.31B | $2.44B | $2.40B | $2.12B | $1.88B | $1.80B | $1.79B | $1.03B |
| Short-term debt | $2.03B | $2.18B | $1.92B | $1.40B | $1.43B | $412.5M | $1.01B | $635.6M | $634.9M | $741.2M |
| Deferred revenue | — | — | $365.7M | $681.6M | $259.8M | $266.3M | $969.9M | — | — | — |
| Total current liabilities | $6.92B | $6.81B | $6.63B | $5.96B | $5.72B | $4.59B | $4.52B | $4.30B | $3.99B | $2.83B |
| Long-term debt | $9.32B | $8.36B | $8.38B | $9.59B | $8.59B | $8.27B | $8.05B | $8.71B | $9.89B | $1.21B |
| Lease obligations | $2.07B | $2.02B | $1.96B | $1.94B | $1.88B | $1.82B | $1.74B | — | — | — |
| Other long-term liabilities | $5.06B | $4.41B | $4.23B | $3.94B | $3.92B | $3.93B | $3.80B | $2.40B | $2.38B | $833.6M |
| Total liabilities | $21.30B | $19.58B | $19.24B | $19.49B | $18.23B | $16.79B | $16.37B | $15.40B | $16.25B | $4.87B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $83.1M | $92.5M | $91.8M | $91.2M | $90.8M | $89.9M | $119.4M | $118.4M | $117.6M | $116.6M |
| Retained earnings (deficit) | $1.03B | $7.25B | $5.29B | $3.52B | $2.12B | $844.3M | $7.37B | $6.25B | $5.46B | $4.05B |
| Treasury stock | — | — | — | — | −$2.87B | −$96.5M | −$5.84B | −$4.90B | −$4.27B | −$4.24B |
| Accumulated other comprehensive income | −$634.4M | −$875.2M | −$624.3M | −$700.6M | −$698.4M | −$718.3M | −$679.5M | −$629.9M | −$384.9M | −$540.4M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $4.60B | $4.05B | $3.72B | $3.10B | $2.44B | $3.61B | $4.12B | $3.73B | $3.65B | $1.88B |
| Key figures | ||||||||||
| Total debt | $12.94B | $11.91B | $11.81B | $12.51B | $11.50B | $10.11B | $10.43B | $9.34B | $10.52B | $1.95B |
| Net cash (debt) | −$12.74B | −$11.70B | −$11.53B | −$12.31B | −$11.33B | −$9.89B | −$10.27B | −$9.19B | −$10.32B | −$1.06B |
| Working capital | −$912.9M | −$1.41B | −$1.11B | −$53.0M | −$665.8M | −$3.0M | $109.8M | $46.8M | $419.8M | $798.1M |
| Tangible book value | −$7.40B | −$7.06B | −$7.79B | −$8.48B | −$8.70B | −$7.91B | −$7.62B | −$8.43B | −$9.17B | $496.5M |
| Book value per share | $18.48 | $15.94 | $14.39 | $11.85 | $9.12 | $13.19 | $14.71 | $13.09 | $12.81 | $6.63 |
| Shares outstanding | 248.8M | 254.1M | 258.3M | 261.8M | 267.1M | 273.8M | 280.3M | 285.0M | 284.8M | 283.5M |
| Current ratio | 0.87 | 0.79 | 0.83 | 0.99 | 0.88 | 1.00 | 1.02 | 1.01 | 1.11 | 1.28 |
| Quick ratio | 0.43 | 0.38 | 0.41 | 0.46 | 0.44 | 0.50 | 0.50 | 0.51 | 0.58 | 0.75 |
| Debt / equity | 2.81 | 2.94 | 3.18 | 4.03 | 4.72 | 2.80 | 2.53 | 2.50 | 2.88 | 1.04 |
| Equity / assets | 17.8% | 17.1% | 16.2% | 13.7% | 11.8% | 17.7% | 20.1% | 19.5% | 18.3% | 27.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $293.5M | $216.9M | $207.2M | $241.5M | $269.8M | $199.8M | $210.4M | $238.2M | $200.0M | $179.9M | $276.8M | $503.4M |
| Cash & equivalents | $293.5M | $216.9M | $207.2M | $241.5M | $269.8M | $199.8M | $210.4M | $238.2M | $200.0M | $179.9M | $276.8M | $503.4M |
| Receivables | $3.57B | $3.19B | $2.79B | $3.12B | $3.11B | $2.81B | $2.39B | $2.97B | $3.05B | $2.81B | $2.47B | $2.94B |
| Inventory | $2.53B | $2.47B | $2.32B | $2.28B | $2.48B | $2.52B | $2.29B | $2.27B | $2.29B | $2.38B | $2.33B | $2.24B |
| Other current assets | $604.8M | $617.5M | $690.8M | $506.0M | $559.0M | $511.6M | $513.5M | $495.3M | $513.4M | $475.4M | $438.4M | $510.2M |
| Total current assets | $7.00B | $6.50B | $6.01B | $6.15B | $6.43B | $6.04B | $5.40B | $5.97B | $6.05B | $5.84B | $5.51B | $6.20B |
| Property, plant & equipment (net) | $6.28B | $6.21B | $6.13B | $5.90B | $5.82B | $5.64B | $5.49B | $5.23B | $5.03B | $4.89B | $4.72B | $4.46B |
| Goodwill & intangible assets | $11.83B | $11.89B | $12.00B | $11.26B | $11.35B | $11.20B | $11.11B | $11.31B | $11.30B | $11.40B | $11.51B | $11.24B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $1.85B | $1.78B | $1.76B | $2.90B | $1.77B | $1.76B | $1.63B | $1.45B | $1.36B | $1.30B | $1.21B | $1.11B |
| Total assets | $26.95B | $26.38B | $25.90B | $26.21B | $25.36B | $24.64B | $23.63B | $23.97B | $23.73B | $23.43B | $22.95B | $23.00B |
| Liabilities | ||||||||||||
| Accounts payable | $2.83B | $2.60B | $2.35B | $2.44B | $2.57B | $2.51B | $2.25B | $2.54B | $2.49B | $2.45B | $2.31B | $2.42B |
| Short-term debt | $4.23B | $2.86B | $2.03B | $2.68B | $3.34B | $3.42B | $2.18B | $2.43B | $2.67B | $3.06B | $1.92B | $1.88B |
| Deferred revenue | — | — | — | — | — | — | — | $363.2M | $306.3M | $254.0M | $365.7M | $325.3M |
| Total current liabilities | $9.63B | $7.53B | $6.92B | $7.47B | $8.20B | $7.88B | $6.81B | $7.22B | $7.47B | $7.48B | $6.63B | $6.62B |
| Long-term debt | $8.33B | $9.32B | $9.32B | $9.32B | $7.83B | $7.83B | $8.36B | $8.18B | $8.13B | $8.13B | $8.38B | $8.50B |
| Lease obligations | $2.14B | $2.09B | $2.07B | $2.06B | $2.08B | $2.04B | $2.02B | $1.96B | $1.96B | $1.95B | $1.96B | $1.94B |
| Other long-term liabilities | $5.14B | $5.09B | $5.06B | $4.99B | $4.94B | $4.80B | $4.41B | $4.42B | $4.38B | $4.31B | $4.23B | $4.10B |
| Total liabilities | $23.10B | $21.95B | $21.30B | $21.78B | $20.96B | $20.51B | $19.58B | $19.81B | $19.98B | $19.92B | $19.24B | $19.22B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $83.3M | $83.2M | $83.1M | $92.9M | $92.7M | $92.6M | $92.5M | $92.4M | $92.1M | $92.0M | $91.8M | $91.7M |
| Retained earnings (deficit) | $2.01B | $1.37B | $1.03B | $8.74B | $8.11B | $7.55B | $7.25B | $6.95B | $6.32B | $5.61B | $5.29B | $5.09B |
| Accumulated other comprehensive income | −$594.1M | −$586.8M | −$634.4M | −$590.1M | −$597.9M | −$772.9M | −$875.2M | −$676.2M | −$776.9M | −$705.0M | −$624.3M | −$756.4M |
| Total shareholders' equity | $3.85B | $4.43B | $4.60B | $4.43B | $4.40B | $4.13B | $4.05B | $4.16B | $3.75B | $3.50B | $3.72B | $3.78B |
| Key figures | ||||||||||||
| Total debt | $14.22B | $13.79B | $12.94B | $13.58B | $12.77B | $12.82B | $11.91B | $12.10B | $12.30B | $12.68B | $11.81B | $11.88B |
| Net cash (debt) | −$13.92B | −$13.57B | −$12.74B | −$13.34B | −$12.50B | −$12.62B | −$11.70B | −$11.86B | −$12.10B | −$12.50B | −$11.53B | −$11.38B |
| Working capital | −$2.63B | −$1.03B | −$912.9M | −$1.33B | −$1.77B | −$1.84B | −$1.41B | −$1.24B | −$1.42B | −$1.64B | −$1.11B | −$424.4M |
| Tangible book value | −$7.97B | −$7.46B | −$7.40B | −$6.83B | −$6.95B | −$7.07B | −$7.06B | −$7.16B | −$7.55B | −$7.90B | −$7.79B | −$7.46B |
| Book value per share | $15.60 | $17.86 | $18.48 | $17.77 | $17.47 | $16.36 | $15.94 | $16.37 | $14.76 | $13.70 | $14.46 | $14.71 |
| Shares outstanding | 247.1M | 248.1M | 248.8M | 249.0M | 251.9M | 252.5M | 254.1M | 253.9M | 254.2M | 255.8M | 256.9M | 256.9M |
| Current ratio | 0.73 | 0.86 | 0.87 | 0.82 | 0.78 | 0.77 | 0.79 | 0.83 | 0.81 | 0.78 | 0.83 | 0.94 |
| Quick ratio | 0.40 | 0.45 | 0.43 | 0.45 | 0.41 | 0.38 | 0.38 | 0.44 | 0.44 | 0.40 | 0.41 | 0.52 |
| Debt / equity | 3.69 | 3.11 | 2.81 | 3.07 | 2.90 | 3.10 | 2.94 | 2.91 | 3.28 | 3.62 | 3.18 | 3.14 |
| Equity / assets | 14.3% | 16.8% | 17.8% | 16.9% | 17.4% | 16.8% | 17.1% | 17.3% | 15.8% | 15.0% | 16.2% | 16.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 19, 2026); data from EODHD.
SHW financial position
At the end of fiscal 2025 (December 31, 2025), Sherwin-Williams had total assets of $25.9 billion (up 9.6% from a year earlier), total liabilities of $21.3 billion and shareholders' equity of $4.6 billion. It held $207.2 million in cash and short-term investments against $12.9 billion of debt, net debt of $12.7 billion. Its current ratio was 0.87. In the latest quarter (ended June 30, 2026) total assets were $27.0 billion and equity $3.9 billion.
Related: SHW income statement, SHW cash flow statement, SHW key metrics. See the SHW stock overview for the latest quote and news.
SHW balance sheet FAQ
What are Sherwin-Williams's total assets?
Sherwin-Williams reported total assets of $25.9 billion at the end of fiscal 2025 (December 31, 2025), compared with $23.6 billion a year earlier.
How much debt does Sherwin-Williams have?
Sherwin-Williams had $12.9 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 2.81.
How much cash does Sherwin-Williams have?
Sherwin-Williams held $207.2 million in cash and short-term investments at the end of fiscal 2025; with $12.9 billion of debt that is net debt of $12.7 billion.
What is Sherwin-Williams's book value?
Sherwin-Williams's shareholders' equity (book value) was $4.6 billion at the end of fiscal 2025, or $18.48 per share.
What is Sherwin-Williams's current ratio?
Sherwin-Williams had current assets of $6.0 billion and current liabilities of $6.9 billion, a current ratio of 0.87 (current liabilities exceed current assets).
How much goodwill does Sherwin-Williams have?
Sherwin-Williams carried $12.0 billion of goodwill and intangible assets, 46.3% of total assets, at the end of fiscal 2025.