PPG Industries Inc. (PPG)

Name: PPG Industries Inc. (PPG): results, filings decoded, planned insider sales, 13F holders, insiders, Congress and short interest
Creator: GreekSoup
License: https://creativecommons.org/licenses/by/4.0/

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PPG Industries Inc. (PPG) reported revenue of $3.9 billion for Q1 FY2026, the quarter ended 31 March 2026, up 6.7% on the same quarter a year earlier. Net income was $382 million, up 2.4% on the year, and diluted earnings per share $1.70. The figures are the company's own, from the 10-Q it filed with the SEC on 29 April 2026.

Revenue$3.9 billionup 6.7%

Net income$382 millionup 2.4%

Diluted EPS$1.70

QuarterQ1 FY2026ended 31 March 2026

Ratios

From the filings

ROE19.6%

ROCEn/a

Operating marginn/a

Net margin9.8%

FCF margin7.6%

Interest covern/a

Debt to equity0.88

Cash conversion1.26

Share count, 1 year-1.8%

Sales CAGR, 3 years0.6%

Profit CAGR, 3 years15.4%

EPS, TTM$7.01

At the close of 21 September 2026

Price$104.93

Market cap$23.4 billion

Stock P/E14.97

Price to book2.89

EV / EBITDAn/a

Dividend yield2.6%

Market cap / sales1.45

52-week high$131.56

52-week low$94.34

Price, 1 year-4.1%

Price CAGR, 3 years-6.9%

Price CAGR, 5 years-6.3%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Debt to equity here stands on long-term debt as PPG Industries Inc. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

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50-day average 200-day average Volume

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on PPG

Filings	28 in twelve months: 10 current reports (8-K), about 5 results of operations; 4 officer or director change; 1 shareholder vote; 1 material agreement; 1 new financial obligation
Planned insider sales	5 Form 144 notices in twelve months, $15.2 million; latest 20 February 2026
Options tape	put/call 0.46 by open interest on 23 September 2026; the straddle prices a 2.4% move to 25 September 2026
Holders	10 of the followed funds hold it; largest Geode Capital Management; 6 Schedule 13D or 13G filings in twelve months
Insider trading	0 sales and 2 purchases on Form 4 in twelve months
Congress	2 House trades disclosed in six months
Short interest	5.9 million shares short, 4.84 days to cover at 31 August 2026
Documents	the 10-K, the 10-Qs, the proxy and 5 earnings press releases, each linked

Quarterly results, the last 12 quarters

	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026
Revenue	4,872	4,644	4,350	4,311	4,794	4,575	2,165	3,684	4,195	4,082	3,914	3,930
Cost of revenue	2,866	2,752	2,531	2,445	2,734	2,663	1,410	2,142	2,432	2,426	2,316	2,275
Gross profit	2,006	1,892	1,819	1,866	2,060	1,912	755	1,542	1,763	1,656	1,598	1,655
Gross margin	41%	41%	42%	43%	43%	42%	35%	42%	42%	41%	41%	42%
R&D	110	108	111	109	111	105	98.0	102	106	106	109	113
SG&A	1,069	1,047	1,114	1,064	1,077	1,062	188	838	872	824	905	885
Operating income	787	698	555	651	829	712	n/a	607	743	689	n/a	636
Operating margin	16%	15%	13%	15%	17%	16%	n/a	16%	18%	17%	n/a	16%
Interest expense	67.0	64.0	57.0	55.0	62.0	67.0	57.0	56.0	62.0	65.0	58.0	61.0
Pre-tax income	646	557	192	538	693	611	10.0	502	598	556	389	517
Tax rate	23%	22%	46%	24%	23%	22%	530%	24%	23%	21%	20%	26%
Net income	490	426	90.0	400	528	468	-280	373	450	453	300	382
Net margin	10%	9%	2%	9%	11%	10%	-13%	10%	11%	11%	8%	10%
Diluted EPS	$2.06	$1.79	$0.39	$1.69	$2.24	$2.00	-$1.18	$1.63	$1.98	$2.00	$1.33	$1.70
Operating cash flow	536	892	898	-60.0	365	769	346	-18.0	387	685	887	33.0
Capital expenditure	122	139	168	256	118	149	198	209	121	147	301	196
Free cash flow	414	753	730	-316	247	620	148	-227	266	538	586	-163
Buybacks	0.0	0.0	86.0	149	163	199	241	394	146	147	103	96.0
Dividends paid	146	153	153	153	152	159	158	154	154	160	160	159
Shares outstanding	236m	236m	235m	234m	233m	232m	230m	227m	226m	224m	223m	223m
Filing	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Profit and loss, 12 fiscal years and the trailing twelve months

	FY2014 †	FY2015 †	FY2016 †	FY2017 †	FY2018	FY2019	FY2020 †	FY2021	FY2022 †	FY2023 †	FY2024	FY2025	TTM
Revenue	14,791	14,241	14,270	14,748	15,374	15,146	13,834	16,802	15,614	16,242	15,845	15,875	16,121
Cost of revenue	n/a	n/a	n/a	8,209	9,001	8,653	7,777	10,286	9,975	9,678	9,252	9,316	9,449
Gross profit	n/a	n/a	n/a	6,539	6,373	6,493	6,057	6,516	6,556	7,501	6,593	6,559	6,672
Gross margin	n/a	n/a	n/a	44.3%	41.5%	42.9%	43.8%	38.8%	42.0%	46.2%	41.6%	41.3%	41.4%
Research and development	499	484	473	472	464	456	401	463	457	446	447	446	434
Selling, general and administrative	3,696	3,584	3,555	3,554	3,573	3,604	3,389	3,780	3,037	3,401	3,391	3,439	3,486
Operating income	2,191	2,287	2,382	2,295	2,118	2,271	2,109	2,171	2,042	2,675	n/a	n/a	n/a
Operating margin	14.8%	16.1%	16.7%	15.6%	13.8%	15.0%	15.2%	12.9%	13.1%	16.5%	n/a	n/a	n/a
Interest expense	187	125	125	105	118	132	138	121	167	247	241	241	246
Pre-tax income	1,346	1,745	779	2,008	1,693	1,661	1,362	1,815	1,355	1,690	1,852	2,045	2,060
Income tax	237	413	214	616	353	392	291	374	320	428	475	458	468
Effective tax rate	17.6%	23.7%	27.5%	30.7%	20.9%	23.6%	21.4%	20.6%	23.6%	25.3%	25.6%	22.4%	22.7%
Net income	2,102	1,406	873	1,591	1,341	1,243	1,059	1,439	1,026	1,270	1,116	1,576	1,585
Net margin	14.2%	9.9%	6.1%	10.8%	8.7%	8.2%	7.7%	8.6%	6.6%	7.8%	7.0%	9.9%	9.8%
Diluted EPS	$15.03	$5.14	$3.28	$6.17	$5.47	$5.22	$4.45	$6.01	$4.32	$5.35	$4.75	$6.94	$7.01
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

	FY2014 †	FY2015 †	FY2016 †	FY2017 †	FY2018	FY2019	FY2020 †	FY2021	FY2022 †	FY2023 †	FY2024	FY2025	TTM
Operating cash flow	1,528	1,895	1,351	1,568	1,467	2,080	2,130	1,562	963	2,411	1,420	1,941	1,992
Capital expenditure	564	430	380	360	411	413	304	371	486	516	721	778	765
Free cash flow	964	1,465	971	1,208	1,056	1,667	1,826	1,191	477	1,895	699	1,163	1,227
Free cash flow margin	6.5%	10.3%	6.8%	8.2%	6.9%	11.0%	13.2%	7.1%	3.1%	11.7%	4.4%	7.3%	7.6%
Depreciation and amortisation	450	446	440	460	497	511	509	561	502	514	492	528	539
Share-based compensation	71.0	54.0	45.0	35.0	37.0	39.0	44.0	57.0	34.0	56.0	42.0	46.0	34.0
Buybacks	750	751	1,050	813	1,721	325	0.0	210	190	86.0	752	790	492
Dividends paid	361	383	414	434	453	468	496	536	570	598	622	628	633
Dividend per share	$2.62	$1.41	$1.56	$0.40	$1.86	$1.98	$2.10	$2.26	$2.42	$2.54	$2.66	$2.78	n/a
Diluted shares, weighted	140m	274m	267m	258m	245m	238m	238m	239m	237m	237m	235m	227m	224m
Shares outstanding at period end	136m	267m	257m	251m	236m	236m	237m	236m	235m	235m	230m	223m	223m
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

	FY2014 †	FY2015 †	FY2016 †	FY2017 †	FY2018	FY2019	FY2020 †	FY2021	FY2022 †	FY2023 †	FY2024	FY2025	TTM
Total assets	17,535	17,076	15,769	16,538	16,015	17,708	19,556	21,351	20,744	21,647	19,433	22,098	22,150
Cash and equivalents	686	1,311	1,820	1,436	902	1,216	1,826	1,005	1,099	1,493	1,270	2,163	1,573
Receivables	2,366	2,343	2,288	2,559	2,505	2,479	2,412	2,687	2,824	2,622	2,477	2,783	3,676
Inventory	1,825	1,659	1,514	1,730	1,783	1,710	1,735	2,171	2,272	1,934	1,846	1,996	2,162
Goodwill	3,801	3,625	3,572	3,942	4,070	4,470	5,102	6,248	5,993	6,115	5,690	6,149	6,152
Long-term debt	3,877	4,265	4,299	4,123	5,000	5,031	5,334	6,565	6,796	6,042	5,801	7,297	7,096
Long-term debt including finance leases	3,899	4,280	4,317	4,138	5,012	5,042	5,346	6,575	6,806	6,050	5,808	7,304	n/a
Operating lease liabilities	n/a	n/a	n/a	n/a	0.0	622	677	693	636	417	454	450	449
Finance lease liabilities	n/a	n/a	n/a	n/a	n/a	8.0	9.0	7.0	7.0	6.0	5.0	5.0	n/a
Shareholders' equity	5,180	4,983	4,826	5,558	4,630	5,284	5,689	6,286	6,592	7,832	6,785	7,941	8,104
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

	10 years	5 years	3 years	TTM
Sales growth, compounded	1.1%	2.8%	0.6%	5.9%
Profit growth, compounded	1.1%	8.3%	15.4%	45.5%
Return on equity, average	20.9%	18.2%	17.5%	19.8%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Filings

Filing	Period	Filed	Where
10-Q	30 June 2026	29 July 2026	EDGAR
10-Q	31 March 2026	29 April 2026	EDGAR
10-K	31 December 2025	19 February 2026	EDGAR
10-Q	30 September 2025	29 October 2025	EDGAR
10-Q	30 June 2025	30 July 2025	EDGAR
10-Q	31 March 2025	30 April 2025	EDGAR
10-K	31 December 2024	20 February 2025	EDGAR
10-Q	30 September 2024	17 October 2024	EDGAR
10-Q	30 June 2024	19 July 2024	EDGAR
10-Q	31 March 2024	19 April 2024	EDGAR

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