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PPG Industries, Inc. manufactures and distributes a broad range of paints, coatings and specialty products. PPG s vision is to be the first-choice partner to meet our customers evolving needs for innovative paints, coatings and surface solutions to protect and beautify the world.
16.99% operating margin is respectable but not wide. ROIC at 15.42%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue growth slowed to 0.2%, essentially flat. This is a business that needs a catalyst.
Net debt of $5.68B represents 4.9x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$16.12B
▲ +0.2% YoY
Net Income (TTM)
$1.58B
▲ +41.2% YoY
Op. Margin
16.91%
▼ -0.5pp YoY
ROIC
14.34%
▼ -1.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$1.23B
▲ +66.4% YoY
Op. Cash Flow (TTM)
$1.99B
▲ +36.7% YoY
Net Debt
$6.15B
Cash & Equiv.
$1.62B
5Y CAGR: +2.8%
5Y CAGR: -8.6%
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