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How Sherwin Williams (SHW) makes money
Sherwin Williams (SHW) made $6.9B of revenue in the third quarter 2026 (Q3 2026), +8% from a year earlier. Paint Stores Group brought in $4.0B (59%); Performance Coatings Group brought in $1.9B (28%); Consumer Brands Group brought in $937M (14%). Of every dollar of revenue, 48¢ was left as gross profit, 16¢ was left as operating profit, 12¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Paint Stores Group | $4.0B | 58.6% | +3% | +5% |
| Performance Coatings Group | $1.9B | 27.8% | -0.5% | +9% |
| Consumer Brands Group | $937M | 13.7% | -5% | +22% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $6.9B | 100.0% |
| Cost of revenue | $3.6B | 52.3% |
| Gross profit | $3.3B | 47.8% |
| Operating expenses | $2.2B | 32.3% |
| Operating profit | $1.1B | 15.5% |
| Income tax | $242M | 3.5% |
| Net earnings | $821M | 12.0% |
| Operating cash flow | $1.1B | 16.1% |
| Free cash flow | $976M | 14.2% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $6.9B | +8% |
| Q2 2026 | $6.8B | +8% |
| Q1 2026 | $5.7B | +7% |
| Q4 2025 | $5.6B | +6% |
| Q3 2025 | $6.4B | +3% |
| Q2 2025 | $6.3B | +0.7% |
| Q1 2025 | $5.3B | -1% |
From Sherwin Williams' 10-Q filed Oct 27, 2026 (on EDGAR).
Questions
How does Sherwin Williams make money?
Sherwin Williams (SHW) made $6.9B of revenue in the third quarter 2026 (Q3 2026), +8% from a year earlier. Paint Stores Group brought in $4.0B (59%); Performance Coatings Group brought in $1.9B (28%); Consumer Brands Group brought in $937M (14%). Of every dollar of revenue, 48¢ was left as gross profit, 16¢ was left as operating profit, 12¢ was left as net earnings.
What is Sherwin Williams' biggest business?
Paint Stores Group: $4.0B in the third quarter 2026, 59% of revenue, +5% from a year earlier.
What is Sherwin Williams' profit margin?
Net earnings were $821M, 12.0% of revenue, in the third quarter 2026; the operating margin was 15.5%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.