Sherwin Williams annual operating margin
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Sherwin Williams Operating Margin Growth & History (SHW)
Sherwin Williams's operating margin was 16.11% for fiscal 2025.
View full Sherwin Williams company overviewSherwin Williams annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 16.11% | −0.18 pp |
| 2024 | 2024-12-31 | 16.29% | −1.77 pp |
| 2023 | 2023-12-31 | 18.05% | +2.72 pp |
| 2022 | 2022-12-31 | 15.34% | −0.12 pp |
| 2021 | 2021-12-31 | 15.46% | −2.91 pp |
| 2020 | 2020-12-31 | 18.37% | +2.68 pp |
| 2019 | 2019-12-31 | 15.69% | +0.80 pp |
| 2018 | 2018-12-31 | 14.89% | −0.02 pp |
| 2017 | 2017-12-31 | 14.92% | −3.34 pp |
| 2016 | 2016-12-31 | 18.25% | +0.94 pp |
| 2015 | 2015-12-31 | 17.31% | +2.08 pp |
| 2014 | 2014-12-31 | 15.23% | +1.07 pp |
| 2013 | 2013-12-31 | 14.16% | +0.45 pp |
| 2012 | 2012-12-31 | 13.71% | +2.47 pp |
| 2011 | 2011-12-31 | 11.24% | −0.95 pp |
| 2010 | 2010-12-31 | 12.19% | — |
Sherwin Williams quarterly operating margin
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Q2.26
| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 18.13% | +0.73 pp |
| Q1 2026 | 2026-03-31 | 14.16% | — |
| Q4 2025 | 2025-12-31 | 14.11% | — |
| Q3 2025 | 2025-09-30 | 18.14% | −3.29 pp |
| Q2 2025 | 2025-06-30 | 17.41% | −5.12 pp |
| Q3 2024 | 2024-09-30 | 21.44% | +0.20 pp |
| Q2 2024 | 2024-06-30 | 22.53% | +2.78 pp |
| Q1 2024 | 2024-03-31 | 16.48% | +1.05 pp |
| Q4 2023 | 2023-12-31 | 15.06% | +1.94 pp |
| Q3 2023 | 2023-09-30 | 21.23% | +3.12 pp |
| Q2 2023 | 2023-06-30 | 19.75% | +3.39 pp |
| Q1 2023 | 2023-03-31 | 15.42% | +2.32 pp |
| Q4 2022 | 2022-12-31 | 13.12% | +2.55 pp |
| Q3 2022 | 2022-09-30 | 18.11% | +2.22 pp |
| Q2 2022 | 2022-06-30 | 16.36% | −2.13 pp |
| Q1 2022 | 2022-03-31 | 13.10% | −3.38 pp |
| Q4 2021 | 2021-12-31 | 10.58% | −6.20 pp |
| Q3 2021 | 2021-09-30 | 15.89% | −5.61 pp |
| Q2 2021 | 2021-06-30 | 18.49% | −1.80 pp |
| Q1 2021 | 2021-03-31 | 16.48% | +2.36 pp |
| Q4 2020 | 2020-12-31 | 16.77% | +5.31 pp |
| Q3 2020 | 2020-09-30 | 21.49% | +2.68 pp |
| Q2 2020 | 2020-06-30 | 20.30% | +1.78 pp |
| Q1 2020 | 2020-03-31 | 14.12% | +1.31 pp |
| Q4 2019 | 2019-12-31 | 11.46% | −1.76 pp |
| Q3 2019 | 2019-09-30 | 18.82% | +2.62 pp |
| Q2 2019 | 2019-06-30 | 18.52% | +1.66 pp |
| Q1 2019 | 2019-03-31 | 12.81% | +0.14 pp |
| Q4 2018 | 2018-12-31 | 13.23% | +0.91 pp |
| Q3 2018 | 2018-09-30 | 16.20% | +1.65 pp |
| Q2 2018 | 2018-06-30 | 16.86% | −1.10 pp |
| Q1 2018 | 2018-03-31 | 12.67% | −2.48 pp |
| Q4 2017 | 2017-12-31 | 12.32% | −3.91 pp |
| Q3 2017 | 2017-09-30 | 14.55% | −6.02 pp |
| Q2 2017 | 2017-06-30 | 17.96% | −2.94 pp |
| Q1 2017 | 2017-03-31 | 15.15% | +0.96 pp |
| Q4 2016 | 2016-12-31 | 16.22% | +0.07 pp |
| Q3 2016 | 2016-09-30 | 20.57% | −0.15 pp |
| Q2 2016 | 2016-06-30 | 20.90% | +1.46 pp |
| Q1 2016 | 2016-03-31 | 14.19% | +2.74 pp |
| Q4 2015 | 2015-12-31 | 16.15% | +3.35 pp |
| Q3 2015 | 2015-09-30 | 20.71% | +2.20 pp |
| Q2 2015 | 2015-06-30 | 19.44% | +2.06 pp |
| Q1 2015 | 2015-03-31 | 11.44% | +0.72 pp |
| Q4 2014 | 2014-12-31 | 12.80% | +2.21 pp |
| Q3 2014 | 2014-09-30 | 18.52% | +1.80 pp |
| Q2 2014 | 2014-06-30 | 17.38% | +0.16 pp |
| Q1 2014 | 2014-03-31 | 10.73% | −0.28 pp |
| Q4 2013 | 2013-12-31 | 10.59% | −1.54 pp |
| Q3 2013 | 2013-09-30 | 16.72% | +0.74 pp |
| Q2 2013 | 2013-06-30 | 17.22% | +1.48 pp |
| Q1 2013 | 2013-03-31 | 11.00% | +0.87 pp |
| Q4 2012 | 2012-12-31 | 12.13% | — |
| Q3 2012 | 2012-09-30 | 15.98% | +3.04 pp |
| Q2 2012 | 2012-06-30 | 15.74% | +2.40 pp |
| Q1 2012 | 2012-03-31 | 10.14% | — |
| Q3 2011 | 2011-09-30 | 12.93% | −1.64 pp |
| Q2 2011 | 2011-06-30 | 13.34% | −2.18 pp |
| Q3 2010 | 2010-09-30 | 14.58% | — |
| Q2 2010 | 2010-06-30 | 15.52% | — |
Sherwin Williams operating margin trends
Over the last five fiscal years, Sherwin Williams's operating margin decreased from 18.37% to 16.11%, a change of −2.27 percentage points. The latest reported quarter, Q2 2026, shows 18.13%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Sherwin Williams source filings ↗