Sherwin-williams Company (the) · NYSE:SHW
Sherwin-williams Company (the) — The Sherwin-Williams Company — Q1 2026 Earnings Presentation
25 slides from Sherwin-williams Company (the)'s earnings presentation, Apr 28, 2026
Slide 1: 2026 Investor Presentation
SHERWIN-WILLIAMS. 2026 Investor Presentation
Slide 2: Cautionary Statement Regarding Forward-Looking Information
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION Certain statements contained in this presentation constitute “forward-looking statements” within the meaning of federal securities laws. These forward-looking statements are based upon management’s current expectations, predictions, estimate
Slide 3: Well-Positioned to Drive Profitable Above-Market Growth
Well-Positioned to Drive Profitable Above-Market Growth UNIQUE GLOBAL CLEAR STRATEGY FINANCIAL STRENGTH COMPETITIVE ASSETS MARKET OPPORTUNITY Differentiated Solutions Margin to drive customer productivity Multiple organic growth Expansion & profitability opportunities… Opportunities Talent Strong Fo
Slide 4: About Sherwin-Williams
» About Sherwin-Williams $23.6 bition 2025 Net Sales © Paint Stores Group © Consumer Brands Group 1 866 © Performance Coatings Group aa Year Founded ~64,000+ *8*3 5,400 im Employees Stores and Branches 120+ 130+ afl Countries Manufacturing & Distribution Facilities SHERWIN-WILLIAMS. 4
Slide 5: Paint Stores Group
Paint Stores Group Trusted & Recognized 4,800+ Stores across the 3,300+ Delivery Vehicles 3,700+ Segment- Brand US, Canada and Caribbean and 3,100+ Drivers Focused Sales Reps 1,500+ Management Technology-Driven Color and Digital Tools for Trainees Annually Innovative Products Design Expertise Custom
Slide 6: Paint Stores Group
Paint Stores Group Results ($ in billions) 2025 Net Sales by End Market $13.6 DIY $12.8 $13.2 New Residential 22.5% 22.3% $12.0 22.0% Residential Repaint $10.6 Commercial 20.6% Protective 19.6% & Marine Property Maintenance 2021 2022 2023 2024 2025 Sales Segment Margin 6
Slide 7: Consumer Brands Group
Consumer Brands Group Trusted & Premier Strategic Technology-Driven Recognized Brands Channel Partners Innovative Products Training and Field Support Category Expertise Digital Tools Focused on Serving DIYers and the “Pro Who Paints” 7
Slide 8: Consumer Brands Group
Consumer Brands Group Results ($ in billions) 2025 Net Sales by Geography $3.4 $3.4 $3.3 Latin America $3.2 $3.1 21.0% 19.3% Europe 15.0% 12.7% 13.5% North America 2021 2022 2023 2024 2025 Sales Adjusted Segment Margin * *This is a non-GAAP financial measure. Reconciliation from segment profit 8 and
Slide 9: Performance Coatings Group
Performance Coatings Group Technology-Driven ~1,550 Segment Specific Color and Design Global Reach: Innovative Products Technical Reps Expertise 120+ Countries Sustainability-Focused 130 Strategically Located 170+ North America Targeted Acquisitions Solutions Blending Facilities Automotive Refinish
Slide 10: Performance Coatings Group
Performance Coatings Group Results ($ in billions) 2025 Net Sales by Division Industrial $6.8 $6.8 $6.8 $6.8 General Wood Industrial $6.0 17.5% 14.1% 18.0% 17.3% 11.6% Coil Automotive Refinish Protective Packaging 2021 2022 2023 2024 2025 & Marine Sales Adjusted Segment Margin* *This is a non-GAAP f
Slide 11: Full Spectrum of Possibilities
Full Spectrum of Possibilities S-W provides a comprehensive range of Architectural & Industrial coating solutions for every type of project from start to finish GLOBAL HEADQUARTERS A High-Performance Workplace Architectural Coatings Industrial Coatings 11
Slide 12: Our Highly Responsive Global Supply Chain is a Competitive Advantage
Our Highly Responsive Global Supply Chain is a Competitive Advantage END-TO-END SUPPLY CHAIN Research & Global Supply Chain Manufacturing Distribution Transportation Customer Development Procurement Planning • In-House Resin Capability • Deep Supplier Relationships • Multi-site Readiness • Automatio
Slide 13: Building on a Legacy of Innovation
Building on a Legacy of Innovation MORIKIS GLOBAL TECHNOLOGY CENTER RESEARCH & DEVELOPMENT (R&D) AT A GLANCE AT A GLANCE 2,300+ 2,300+ 2025 Employees Worldwide Active Patents 26,000+ 11+ years Year Opened ~ 600,000 Years of Combined SHW R&D Experience Average R&D Employee Tenure Square Feet 13
Slide 14: Sustainability: Doing Business the Right Way
Sustainability: Doing Business the Right Way Environmental Product Social Governance Footprint Blueprint Imprint & Ethics Doing Our Part for Driving Sustainability Elevating a Culture of Supporting Broad the Planet Through Innovation Safety, Belonging and Engagement and Community Appropriate Oversig
Slide 15: Financial Highlights
Financial Highlights (1)(2) Net Sales Adjusted EBITDA (1) Adjusted EPS (1) Free Cash Flow Conversion $ in billions $ in billions $23.1 $23.1 $23.6 $4.6 90.2% $4.5 $22.1 $4.2 $11.33$11.43 $19.9 $18.4 $10.35 $3.6 $3.4 63.5% $3.3 59.3% 59.2% $8.73 $8.19 $8.15 46.4% 36.0% 20 21 22 23 24 25 20 21 22 23 2
Slide 16: Consistent Disciplined Capital Allocation Philosophy
Consistent Disciplined Capital Allocation Philosophy We Do Not Hold Cash • Consistent Capital Allocation Philosophy: We Will Not Hold Cash CAPEX Dividend Strategic M&A Share Investment Target 30% of Clearly Defined Repurchase Modest PY GAAP Criteria Absent Strategic Requirements Earnings M&A <2.0% 4
Slide 17: Comparison of Cumulative Ten-Year Total Return
Comparison of Cumulative Ten-Year Total Return $450 $400 $350 $300 $250 $200 $150 $100 $50 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Peer group of companies comprised of the following: Akzo Nobel N.V., Axalta Coating Systems Ltd., BASF SE, Genuine Parts Company, H.B. Fuller Company, The
Slide 18: Appendix
SHERWIN-WILLIAMS. Appendix
Slide 19: Our Global Footprint
Our Global Footprint 23 branches & 263 5 facilities 21 paint stores facilities 56 branches & facilities 62 facilities facilities 7 4,504 branches 219 2 facilities branches & facilities 9 86 facilities paint stores & facilities paint stores 24 branches & 1 307 facilities 21 facility facilities paint
Slide 20: Paint Stores Group – Controlled Distribution Model
Paint Stores Group – Controlled Distribution Model UNITED STATES 4,504 HAWAII 13 MISSOURI 83 RHODE ISLAND 12 CARIBBEAN 86 ALABAMA 80 IDAHO 36 MONTANA 19 SOUTH CAROLINA 100 ALASKA 7 ILLINOIS 163 NEBRASKA 28 SOUTH DAKOTA 14 CANADA 263 ARIZONA 86 INDIANA 104 NEVADA 32 TENNESSEE 104 ALBERTA 32 ARKANSAS
Slide 21: U.S. Architectural Paint Industry
U.S. Architectural Paint Industry U.S. Architectural Paint Gallon Estimate U.S. Non-Residential & Residential Square Footage 900 300,000 800 270,000 U.S. Sq. Ft. in Thousands Millions of Gallons 700 240,000 600 210,000 500 400 180,000 2015 2016 2017 2018 2019 2020 2021 2022* 2023* 2024* 2025* 2015 2
Slide 22: Non-GAAP Financial Measures
Non-GAAP Financial Measures Management utilizes certain financial measures in this presentation (including Adjusted segment profit, EBITDA, Adjusted EBITDA, Adjusted diluted net income per share and Free cash flow conversion) that are not in accordance with U.S. generally accepted accounting princip
Slide 23: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Adjusted Segment Profit GAAP to Adjusted Pre-Tax Income by Segment Consumer Brands Group Performance Coatings Group ($ in millions) 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 Net sales $ 3,322.4 $ 3,388.4 $ 3,365.6 $ 3,108.0 $ 3,166.4 $ 6,003.8 $
Slide 24: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures EBITDA, Adjusted EBITDA and Free Cash Flow Conversion ($ in millions) 2020 2021 2022 2023 2024 2025 Net income $ 2,030.4 $ 1,864.4 $ 2,020.1 $ 2,388.8 $ 2,681.4 $ 2,568.5 Interest expense 340.4 334.7 390.8 417.5 415.7 465.0 Income taxes 488.8 384.2 553.0
Slide 25: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Adjusted EPS Year Ended Year Ended Year Ended Year Ended Year Ended Year Ended December 31, 2020 December 31, 2021 December 31, 2022 December 31, 2023 December 31, 2024 December 31, 2025 Tax After- Tax After- Tax After- Tax After- Tax After- Tax After- P
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