FN2 Earnings Intelligence
PPG Industries, Inc. financials
PPG Industries, Inc. (PPG) financial statements and key operating metrics from FN2 Research.
Key Stats
USD in millions, except per-share values and percentages.
| Metric | 12/31/2021 | 12/31/2022 | 12/31/2023 | 12/31/2024 | 12/31/2025 | 12/31/2026 est. | 12/31/2027 est. |
|---|---|---|---|---|---|---|---|
| Market Cap | - | - | - | - | - | - | - |
| - Cash | $1,005 | $1,099 | $1,514 | $1,270 | $2,163 | - | - |
| + Debt | $6,578 | $6,513 | $5,752 | $4,883 | $6,606 | - | - |
| Enterprise Value | - | - | - | - | - | - | - |
| Revenue | $16,802 | $17,652 | $18,246 | $15,845 | $15,875 | $16,664.3 | $17,231.2 |
| % Growth | 21.5% | 5.1% | 3.4% | -13.2% | 0.2% | 5.0% | 3.4% |
| Gross Profit | $6,516 | $6,556 | $7,501 | $6,593 | $6,559 | - | - |
| % Margin | 38.8% | 37.1% | 41.1% | 41.6% | 41.3% | - | - |
| EBITDA | $2,732 | $2,596 | $3,233 | - | - | - | - |
| % Margin | 16.3% | 14.7% | 17.7% | - | - | - | - |
| Net Income | $1,439 | $1,026 | $1,270 | $1,116 | $1,576 | - | - |
| % Margin | 8.6% | 5.8% | 7.0% | 7.0% | 9.9% | - | - |
| Diluted EPS | $6.01 | $4.32 | $5.35 | $4.75 | $6.94 | $7.88 | $8.61 |
| % Growth | 35.1% | -28.1% | 23.8% | -11.2% | 46.1% | 13.6% | 9.2% |
| Operating Cash Flow | $1,562 | $963 | $2,411 | $1,420 | $1,941 | - | - |
| CapEx | $371 | $518 | $549 | $721 | $778 | - | - |
| Free Cash Flow | $1,191 | $445 | $1,862 | $699 | $1,163 | - | - |
Historical market capitalization is not persisted, so Market Cap and Enterprise Value remain unavailable rather than mixing today's market value into prior periods.
Income Statement
USD in millions, except per-share values and percentages.
| Metric | 12/31/2021 | 12/31/2022 | 12/31/2023 | 12/31/2024 | 12/31/2025 | 12/31/2026 est. | 12/31/2027 est. |
|---|---|---|---|---|---|---|---|
| Revenue | $16,802 | $17,652 | $18,246 | $15,845 | $15,875 | $16,664.3 | $17,231.2 |
| Gross Profit | $6,516 | $6,556 | $7,501 | $6,593 | $6,559 | - | - |
| EBITDA | $2,732 | $2,596 | $3,233 | - | - | - | - |
| Net Income | $1,439 | $1,026 | $1,270 | $1,116 | $1,576 | - | - |
| Diluted EPS | $6.01 | $4.32 | $5.35 | $4.75 | $6.94 | $7.88 | $8.61 |
Balance Sheet
USD in millions, except per-share values and percentages.
| Metric | 12/31/2021 | 12/31/2022 | 12/31/2023 | 12/31/2024 | 12/31/2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $1,005 | $1,099 | $1,514 | $1,270 | $2,163 |
| Short-term Debt | $6 | $10 | $4 | $7 | $4 |
| Long-term Debt | $6,572 | $6,503 | $5,748 | $4,876 | $6,602 |
| Total Debt | $6,578 | $6,513 | $5,752 | $4,883 | $6,606 |
Cash Flow
USD in millions, except per-share values and percentages.
| Metric | 12/31/2021 | 12/31/2022 | 12/31/2023 | 12/31/2024 | 12/31/2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $1,562 | $963 | $2,411 | $1,420 | $1,941 |
| Capital Expenditure | $371 | $518 | $549 | $721 | $778 |
| Free Cash Flow | $1,191 | $445 | $1,862 | $699 | $1,163 |
Ratios
USD in millions, except per-share values and percentages.
| Metric | 12/31/2021 | 12/31/2022 | 12/31/2023 | 12/31/2024 | 12/31/2025 |
|---|---|---|---|---|---|
| Revenue Growth | 21.5% | 5.1% | 3.4% | -13.2% | 0.2% |
| Gross Margin | 38.8% | 37.1% | 41.1% | 41.6% | 41.3% |
| EBITDA Margin | 16.3% | 14.7% | 17.7% | - | - |
| Net Margin | 8.6% | 5.8% | 7.0% | 7.0% | 9.9% |
| FCF Margin | 7.1% | 2.5% | 10.2% | 4.4% | 7.3% |
| Diluted EPS Growth | 35.1% | -28.1% | 23.8% | -11.2% | 46.1% |