Sherwin Williams (SHW) FY2022 results: revenue $22.1 billion, up 11.1% on the year
Sherwin Williams Co. (SHW) reported revenue of $22.1 billion for fiscal 2022, the year ended 31 December 2022, up 11.1% on the year before. Net income was $2.0 billion, up 8.4%, and diluted earnings per share $7.72. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2023.
Revenue
$22.1 billion
+11.1% on the year
FY2015FY2022
Operating margin
15.3%
15.5% a year earlier
FY2015FY2022
Net income
$2.0 billion
+8.4% on the year
FY2015FY2022
Diluted EPS
$7.72
+10.6% on the year
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
1,920
2,245
3,409
-14.5%
Capital expenditure
644
372
304
+73.3%
Free cash flow
1,275
1,873
3,105
-31.9%
Free cash flow margin
5.8%
9.4%
16.9%
Cash from investing
-1,608
-476
-322
Cash from financing
-282
-1,834
-3,020
Depreciation and amortisation
581
573
581
+1.5%
Share-based compensation
99.7
97.7
95.9
+2.0%
Dividends paid
618
587
488
+5.3%
Dividend per share
$2.40
$2.20
$1.79
+9.1%
Diluted shares, weighted
262m
267m
276m
-2.0%
Shares outstanding at period end
259m
261m
269m
-0.8%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
3,102
2,437
3,611
+27.3%
Short-term borrowings
n/a
n/a
0.1
Debt
10,570
9,615
8,292
+9.9%
Operating lease liabilities
1,513
1,471
1,434
+2.9%
Other liabilities
7,409
7,144
7,065
+3.7%
Total liabilities and equity
22,594
20,667
20,402
+9.3%
Fixed assets
2,207
1,867
1,834
+18.2%
Goodwill
7,583
7,135
7,049
+6.3%
Intangible assets
4,002
4,002
4,471
+0.0%
Cash and equivalents
199
166
227
+20.0%
Receivables
2,564
2,352
2,078
+9.0%
Inventory
2,626
1,927
1,804
+36.3%
Other assets
3,413
3,218
2,938
+6.1%
Total assets
22,594
20,667
20,402
+9.3%
10-K for the year ended 31 December 2022, filed 22 February 2023: the filing.