PPG Industries (PPG) FY2024 results: revenue $15.8 billion, down 2.4% on the year
PPG Industries Inc. (PPG) reported revenue of $15.8 billion for fiscal 2024, the year ended 31 December 2024, down 2.4% on the year before. Net income was $1.1 billion, down 12.1%, and diluted earnings per share $4.75. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2025.
Revenue
$15.8 billion
-2.4% on the year
FY2017FY2024
Operating margin
n/a
16.5% a year earlier
FY2017FY2024
Net income
$1.1 billion
-12.1% on the year
FY2017FY2024
Diluted EPS
$4.75
-11.2% on the year
FY2017FY2024
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree 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.
Cash flow
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
1,420
2,411
963
-41.1%
Capital expenditure
721
516
486
+39.7%
Free cash flow
699
1,895
477
-63.1%
Free cash flow margin
4.4%
11.7%
3.1%
Cash from investing
107
-556
-461
Cash from financing
-1,425
-1,550
-409
Depreciation and amortisation
492
514
502
-4.3%
Share-based compensation
42.0
56.0
34.0
-25.0%
Buybacks
752
86.0
190
+774.4%
Dividends paid
622
598
570
+4.0%
Dividend per share
$2.66
$2.54
$2.42
+4.7%
Diluted shares, weighted
235m
237m
237m
-1.0%
Shares outstanding at period end
230m
235m
235m
-2.2%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
6,785
7,832
6,592
-13.4%
Non-controlling interest
177
191
117
-7.3%
Short-term borrowings
7.0
4.0
10.0
+75.0%
Debt
5,801
6,042
6,796
-4.0%
Operating lease liabilities
454
417
636
+8.9%
Finance lease liabilities
5.0
6.0
7.0
-16.7%
Other liabilities
6,204
7,155
6,586
-13.3%
Total liabilities and equity
19,433
21,647
20,744
-10.2%
Fixed assets
3,464
3,450
3,328
+0.4%
Goodwill
5,690
6,115
5,993
-7.0%
Intangible assets
1,922
2,261
2,414
-15.0%
Investments
419
329
299
+27.4%
Cash and equivalents
1,270
1,493
1,099
-14.9%
Receivables
2,477
2,622
2,824
-5.5%
Inventory
1,846
1,934
2,272
-4.6%
Other assets
2,345
3,443
2,515
-31.9%
Total assets
19,433
21,647
20,744
-10.2%
10-K for the year ended 31 December 2024, filed 20 February 2025: the filing.