SHW Sherwin-Williams margins

Relative Growth: Rel. Growth: 54

Relative Strength: Rel. Strength: 50

Relative Valuation: Rel. Valuation: 39

Relative Profitability: Rel. Profitability: 79

Gross margin

48.6%

Operating margin

16.1%

EBITDA margin

21.2%

Net margin

10.7%

Recent Sherwin-Williams shows a gross margin of 48.6%, an operating margin of 16.1%, an EBITDA margin of 21.2%, and a net margin of 10.7%. Of the available margins, EBITDA margin increased the most and gross margin fell the most, by 0.2 and 0.3 percentage points respectively.

SHW margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Sherwin-Williams's margins averaged 48.42% gross, 16.12% operating, 20.98% EBITDA, and 10.97% net. For Sherwin-Williams, gross and EBITDA margins are above their three-year averages, while operating and net margins are below their three-year averages.

SHW margin expansion

Year-over-year margin changes in percentage points

The largest positive change was in EBITDA margin, up 0.2 percentage points. Operating margin also expanded by 0.1 percentage points, while gross margin contracted by 0.3 percentage points and net margin by 0.3 percentage points.

Gross margin expansion

-0.3pp

Operating margin expansion

0.1pp

EBITDA margin expansion

0.2pp

Net margin expansion

-0.3pp

SHW Gross margin

Across the last 3 years, Sherwin-Williams's gross margin stood at 48.42%. The current gross margin stands at 48.6%, 0.2 percentage points above its three-year average. Gross margin was highest at 49% in Jun 2026 and lowest at 46.7% in Dec 2023.

SHW Operating margin

Sherwin-Williams's operating margin averaged 16.12% in the last 3 years. Sherwin-Williams currently reports an operating margin of 16.1%, 0 percentage points below its three-year average. Over the last 3 years, Sherwin-Williams's operating margin peaked at 16.7% in Mar 2025 and reached a low of 15.4% in Mar 2024.

SHW EBITDA margin

Over the last 3 years, Sherwin-Williams had an average EBITDA margin of 20.98%. The latest EBITDA margin for Sherwin-Williams is 21.2%, 0.2 percentage points above its three-year average. Looking back over the last 3 years, Sherwin-Williams's EBITDA margin reached 21.6% at its highest point in Mar 2025 and 20% at its lowest in Dec 2023.

SHW Net margin

Across the last 3 years, Sherwin-Williams recorded an average net margin of 10.97%. The current net margin stands at 10.7%, 0.3 percentage points below its three-year average. The highest net margin for Sherwin-Williams was 11.6% in Mar 2025, while the lowest was 10.4% in Dec 2023.

SHW margin group comparison

Margins compared with peer-group, industry and sector averages

Sherwin-Williams's gross margin of 48.6% is above the Basic Materials sector, the industry and its peers average. Compared to its Basic Materials sector average of 32%, Sherwin-Williams's gross margin is 52% higher.

SHW margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Sherwin-Williams's gross margin?

The current gross margin for SHW is 48.6% as of Sep 30, 2026.

What is Sherwin-Williams's operating margin?

For the period ending Sep 30, 2026, SHW recorded an operating margin of 16.1%.

What is Sherwin-Williams's EBITDA margin?

For the period ending Sep 30, 2026, SHW recorded an EBITDA margin of 21.2%.

What is Sherwin-Williams's net margin?

The current net margin for SHW is 10.7% as of Sep 30, 2026.

What are the average margins of SHW?

Across the last 3 years, SHW averaged 48.4% gross, 16.1% operating, 21.0% EBITDA, and 11.0% net.

What are the highest historical margins of SHW?

Sherwin-Williams's highest recorded margins during the past 5 years were 49% gross in Jun 2026, 16.7% operating in Mar 2025, 21.6% EBITDA in Mar 2025, and 11.6% net in Mar 2025.

What are the lowest historical margins of SHW?

Over this 5-year history, Sherwin-Williams's margins fell as low as 41% gross in Jun 2022, 11.9% operating in Jun 2022, 16.6% EBITDA in Jun 2022, and 8.4% net in Jun 2022.