TTM
16.1%
YoY change
−0.15pp
Trough year (1985)
6.4%
Peak year (2024)
16.3%
Latest annual
16.1%
Operating Margin history chart for Sherwin-Williams (SHW) from 1985 to 2025
Latest: 16.1%
Operating Margin change chart for Sherwin-Williams (SHW) from 1985 to 2025
Latest: −0.15pp
Operating Margin history table for Sherwin-Williams (SHW) from 1985 to 2025
| 2025 | 16.1% | -0.15pp | ||
| 2024 | 16.3% | +0.64pp | ||
| 2023 | 15.6% | +2.10pp | ||
| 2022 | 13.5% | +0.19pp | ||
| 2021 | 13.4% | -2.18pp | ||
| 2020 | 15.5% | +2.00pp | ||
| 2019 | 13.5% | +2.77pp | ||
| 2018 | 10.8% | -0.56pp | ||
| 2017 | 11.3% | -3.11pp | ||
| 2016 | 14.4% | +0.21pp | ||
| 2015 | 14.2% | +2.51pp | ||
| 2014 | 11.7% | +0.42pp | ||
| 2013 | 11.3% | +1.45pp | ||
| 2012 | 9.9% | +1.02pp | ||
| 2011 | 8.8% | -0.75pp | ||
| 2010 | 9.6% | -0.20pp | ||
| 2009 | 9.8% | -0.68pp | ||
| 2008 | 10.5% | -1.82pp | ||
| 2007 | 12.3% | +0.75pp | ||
| 2006 | 11.5% | +1.06pp | ||
| 2005 | 10.5% | +0.12pp | ||
| 2004 | 10.4% | -0.25pp | ||
| 2003 | 10.6% | -0.08pp | ||
| 2002 | 10.7% | +1.02pp | ||
| 2001 | 9.7% | -1.22pp | ||
| 2000 | 10.9% | -0.61pp | ||
| 1999 | 11.5% | +0.72pp | ||
| 1998 | 10.8% | +0.05pp | ||
| 1997 | 10.7% | +0.59pp | ||
| 1996 | 10.1% | +0.31pp | ||
| 1995 | 9.8% | -0.15pp | ||
| 1994 | 10.0% | +0.78pp | ||
| 1993 | 9.2% | +0.32pp | ||
| 1992 | 8.9% | +0.40pp | ||
| 1991 | 8.5% | +0.39pp | ||
| 1990 | 8.1% | +0.42pp | ||
| 1989 | 7.7% | +0.74pp | ||
| 1988 | 6.9% | -1.45pp | ||
| 1987 | 8.4% | -0.79pp | ||
| 1986 | 9.2% | +2.77pp | ||
| 1985 | 6.4% | — |
- 202516.1%-0.15pp
- 202416.3%+0.64pp
- 202315.6%+2.10pp
- 202213.5%+0.19pp
- 202113.4%-2.18pp
- 202015.5%+2.00pp
- 201913.5%+2.77pp
- 201810.8%-0.56pp
- 201711.3%-3.11pp
- 201614.4%+0.21pp
- 201514.2%+2.51pp
- 201411.7%+0.42pp
- 201311.3%+1.45pp
- 20129.9%+1.02pp
- 20118.8%-0.75pp
- 20109.6%-0.20pp
- 20099.8%-0.68pp
- 200810.5%-1.82pp
- 200712.3%+0.75pp
- 200611.5%+1.06pp
- 200510.5%+0.12pp
- 200410.4%-0.25pp
- 200310.6%-0.08pp
- 200210.7%+1.02pp
- 20019.7%-1.22pp
- 200010.9%-0.61pp
- 199911.5%+0.72pp
- 199810.8%+0.05pp
- 199710.7%+0.59pp
- 199610.1%+0.31pp
- 19959.8%-0.15pp
- 199410.0%+0.78pp
- 19939.2%+0.32pp
- 19928.9%+0.40pp
- 19918.5%+0.39pp
- 19908.1%+0.42pp
- 19897.7%+0.74pp
- 19886.9%-1.45pp
- 19878.4%-0.79pp
- 19869.2%+2.77pp
- 19856.4%—
Operating Margin values are taken from Sherwin-Williams's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About Operating Margin at Sherwin-Williams (SHW)
According to Sherwin-Williams's latest reported financial statements, the company's latest reported operating margin is 16.1%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
As of the 2025 fiscal year, Sherwin-Williams (SHW) reported operating margin of 16.14% – contracted 0.1 percentage points year-over-year.
The highest annual operating margin of 16.29% was reported in 2024. The lowest in the available history was 6.40% in 1985.
Sherwin-Williams Operating Margin by Year
Sherwin-Williams Operating Margin 2025: 16.1%
Sherwin-Williams posted operating margin of 16.14% in 2025, contracted 0.1 percentage points from 2024.
Sherwin-Williams Operating Margin 2024: 16.3%
In 2024, Sherwin-Williams reported operating margin of 16.29%, expanded 0.6 percentage points from 2023. This figure represents the highest annual value in the available history.
Sherwin-Williams Operating Margin 2023: 15.6%
Sherwin-Williams operating margin in 2023 was 15.64%, expanded 2.1 percentage points from 2022.
Sherwin-Williams Operating Margin 2022: 13.5%
2022's operating margin for Sherwin-Williams came in at 13.55%, expanded 0.2 percentage points from 2021.
Sherwin-Williams Operating Margin 2021: 13.4%
Sherwin-Williams operating margin in 2021 was 13.36%.
See more financial history for Sherwin-Williams (SHW).
Sector peers by Operating Margin
Basic Materials peers of Sherwin-Williams (SHW), ranked by their latest operating margin
| 56.9% | |
| 54.6% | |
| 52.6% | |
| 28.8% | |
| 27.8% | |
| 18.4% | |
| 17.5% | |
| 13.2% |
- 52.6%
- 28.8%
- 17.5%
- 13.2%
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