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PPG INDUSTRIES INC PPG

NYSE · stock · Paints, Varnishes, Lacquers, Enamels & Allied Prods · website · IPO 1945-12-17 · LEI

PPG INDUSTRIES INC statistics & valuation

Market cap$27.5B
P / E17.4×
P / S1.7×
P / B3.4×
P / FCF23.6×
Dividend yield2.29%
Net margin9.9%
Return on equity19.5%
FCF margin7.3%
Net debt$5.1B
Enterprise value USD$32.6B
Graham number -34.9%$74.61

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($74.61); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
6.10% 10.80% 8.70% 8.20% 7.70% 8.60% 6.60% 7.80% 7.00% 9.90% 2016201720182019202020212022202320242025
Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
16.70% 15.50% 13.80% 15.00% 15.20% 12.90% 13.10% 16.50% 2016201720182019202020212022202320242025
Return on equity (%)
17.80% 28.10% 28.30% 23.00% 18.20% 22.40% 15.30% 15.80% 16.00% 19.50% 2016201720182019202020212022202320242025
Shares outstanding
267.4M 257.8M 245.4M 238.2M 237.9M 239.4M 237.3M 237.2M 234.9M 227.1M 2016201720182019202020212022202320242025
Net debt ($)
$2.48B $2.70B $4.10B $3.81B $3.51B $5.57B $5.70B $4.55B $4.53B $5.13B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
5.50% 9.60% 8.40% 7.00% 5.40% 6.70% 4.90% 5.90% 5.70% 7.10% 2016201720182019202020212022202320242025
Free cash flow margin (%)
6.80% 8.20% 7.00% 11.00% 13.20% 7.10% 3.30% 11.70% 4.40% 7.30% 2016201720182019202020212022202320242025
Debt / equity (×)
0.87× 0.73× 1.06× 0.93× 0.92× 1.03× 1.01× 0.75× 0.83× 0.90× 2016201720182019202020212022202320242025
EPS ($)
$3.27 $6.18 $5.47 $5.22 $4.45 $6.01 $4.32 $5.35 $4.75 $6.94 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

PPG INDUSTRIES INC trades at about 16.5× earnings — below its 10-year norm (10-year range 16.7×–30.6×, median 26×).

16.5× 30.6×

Shaded band = 10-year range (16.7×–30.6×); dot = today's 16.5×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating margin——16.5%13.1%12.9%15.2%15.0%13.8%15.5%16.7%
Net margin9.9%7.0%7.8%6.6%8.6%7.7%8.2%8.7%10.8%6.1%
FCF margin7.3%4.4%11.7%3.3%7.1%13.2%11.0%7.0%8.2%6.8%
Return on assets7.1%5.7%5.9%4.9%6.7%5.4%7.0%8.4%9.6%5.5%
Return on equity19.5%16.0%15.8%15.3%22.4%18.2%23.0%28.3%28.1%17.8%
Debt / equity0.90×0.83×0.75×1.01×1.03×0.92×0.93×1.06×0.73×0.87×
Current ratio1.621.311.471.521.421.411.411.361.661.55

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.