Income StatementBalance SheetCash FlowSegments
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PPG Industries Income Statement

Revenue, expenses, and profitability over time

PPG Industries generated $16.1B in trailing twelve-month revenue, up 0.0% year-over-year. Net income was $1.6B with a 9.83% net margin. Gross margin stands at 41.39% and operating margin at 16.59%. Diluted EPS is $7.02, which declined 0.1% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$16.1BGross Profit (TTM)$6.7BOperating Income$636.0MNet Income (TTM)$1.6BEps Diluted (TTM)$7.02
Latest FilingQ1 2026
Report Date2026-04-29
Market Cap$23.1B
P/E Ratio14.58
ROE21.09%

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Reclassification from AOCI—$143.0M$4.0M$5.0M—$5.0M
Common Stock Dividends Per Share (Paid)—$0.7$0.7$0.7—$0.7
Capital Expenditures$208.0M$209.0M$121.0M$147.0M$301.0M$196.0M
Change in Other Current Assets—$34.0M-$37.0M-$26.0M$30.0M$103.0M
Common stock dividends per share cash paid—$0.7$0.7$0.7—$0.7
Comprehensive Income Including Noncontrolling Interest—$654.0M$954.0M$521.0M—$377.0M
Goodwill Translation and Purchase Accounting Adjustments—$134.0M$288.0M$4.0M—-$41.0M
OCI - Defined benefit plan, net of tax—$5.0M$2.0M-$2.0M—$2.0M
Other comprehensive income (loss), net of tax—$281.0M$498.0M$72.0M—-$6.0M
Common Stock Dividends Per Share (Cash Paid)—$0.7$0.7$0.7—$0.7
Comprehensive Income Attributable to Parent—$654.0M$954.0M$521.0M—$377.0M
Other Comprehensive Income (Loss)—$5.0M$2.0M-$2.0M—$2.0M
Acquisitions, Net of Cash—$0.0$0.0$0.0—$79.0M
Change in Accounts Payable and Accrued Liabilities—$202.0M$98.0M——$209.0M
Change in Inventories—$230.0M$26.0M——$156.0M
Effect of Exchange Rate on Cash (Continuing Operations)—$48.0M$125.0M$21.0M—-$10.0M
Net Change in Cash and Restricted Cash—$560.0M—$271.0M—-$590.0M
Number of Operating Segments—————3.00
Payments for Restructuring—$18.0M$27.0M$17.0M—$16.0M
Value of Treasury Stock Reissued—$37.0M$5.0M$5.0M—$48.0M
Common Dividends Per Share Paid—$0.7$0.7$0.7—$0.7
Cash Dividend per Common Share—$0.7$0.7$0.7—$0.7
Comprehensive Income Including Noncontrolling Interest—$654.0M$954.0M$521.0M—$377.0M
OCI Defined Benefit Plan Net of Tax—$5.0M$2.0M-$2.0M—$2.0M
Number of reportable segments—3.00———3.00
Other comprehensive income (loss), after-tax—$276.0M$496.0M$74.0M—-$8.0M
Other investing activities, net—-$41.0M-$1.0M-$18.0M—$4.0M
Income Taxes Paid, Net—$123.0M$107.0M$106.0M—$144.0M
Interest Paid, Net$49.0M$55.0M$62.0M$55.0M$38.0M$105.0M
OCI Pension and Postretirement Before Reclassification, Tax—-$2.0M-$1.0M-$1.0M—-$1.0M
Comprehensive income (loss), including noncontrolling interest—$654.0M$954.0M$521.0M—$377.0M
Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition—-$4.0M$9.0M-$1.0M—-$5.0M
Additions / (Releases)—$1.0M———$0.0
Accounts Receivable, Allowance for Credit Loss, Recovery—$6.0M$5.0M$7.0M—$3.0M
Amortization of capitalized software and acquired intangible assets$32.0M$32.0M$33.0M$32.0M$28.0M$27.0M
Stock options excluded as their inclusion would be anti-dilutive (in shares)—$3.0M$3.0M$3.0M—$3.2M
Impairment and other-related charges, net$146.0M———$146.0M—
Capital investments accrued but not yet paid$73.0M$63.0M$4.0M$0.0$83.0M$52.0M
Net cash provided by operating activities from the Prepaid Business$11.0M-$2.0M—$9.0M—$0.0
Comprehensive Income (Loss), Net of Tax, Attributable to Parent—$648.0M$941.0M$531.0M—$380.0M
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest—$654.0M$954.0M$521.0M—$377.0M
Debt instrument, total indebtedness to total capitalization, percentage—50.0%48.0%47.0%—45.0%
Deferred taxes-$31.0M-$20.0M-$2.0M-$20.0M—$11.0M
Depreciation$87.0M$89.0M$102.0M$106.0M$106.0M$105.0M
Effective tax rates—$0.2———$0.3
Equity in undistributed earnings (losses) of subsidiaries—$5.0M$5.0M$5.0M—$6.0M
Purchase Price Adjustments—————$44.0M
Translation and other—$134.0M$288.0M$4.0M—-$41.0M
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent$2.0M$375.0M$450.0M$444.0M$302.0M$382.0M
Income from discontinued operations, net of tax—-$2.0M$0.0$9.0M—$0.0
Income Taxes Paid, Net—$123.0M$107.0M$106.0M—$144.0M
Accounts payable and other current liabilities-$211.0M$202.0M$98.0M——$209.0M
Increase Decrease In In Accrued Interest And Taxes—-$1.0M$95.0M——$32.0M
Increase (Decrease) in Inventories—$230.0M$26.0M——$156.0M
Increase (Decrease) in Other Current Assets—$34.0M-$37.0M-$26.0M$30.0M$103.0M
Increase (Decrease) in Other Noncurrent Assets and Liabilities, Net—$43.0M—$20.0M—$39.0M
Other stock compensation plans—800K800K700K—600K
Add - Incremental shares under stock-based compensation plans (in shares)—$100.0K$100.0K$100.0K—$100.0K
Interest Paid, Excluding Capitalized Interest, Operating Activity$49.0M$55.0M$62.0M$55.0M$38.0M$105.0M
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders—$3.0M$11.0M$1.0M—$3.0M
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation-$808.0M$698.0M-$661.0M-$306.0M-$276.0M-$334.0M
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation$618.0M-$168.0M-$120.0M-$129.0M-$283.0M-$279.0M
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation$346.0M-$18.0M$387.0M$685.0M$887.0M$33.0M
Net Cash Provided By Used In Operating Activities Continuing Operations$335.0M-$16.0M$387.0M$676.0M$889.0M$33.0M
Net Income Loss Attributable To Noncontrolling Interest—$5.0M$8.0M-$6.0M—$3.0M
Number of operating segments—————$3.0
Number of reportable segments—$3.0———$3.0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Noncontrolling Interest—$1.0M$5.0M-$4.0M—-$6.0M
AOCI before reclass, net of taxes—$132.0M$487.0M$73.0M—-$7.0M
Foreign currency translation gains (losses)—$281.0M$498.0M$72.0M—-$6.0M
Other comprehensive income (loss)—$276.0M$496.0M$74.0M—-$8.0M
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax—$5.0M$2.0M-$2.0M—$2.0M
Membership and other income—$34.0M-$34.0M-$9.0M—$16.0M
Other Noncash Income (Expense)$95.0M$2.0M-$124.0M-$46.0M-$19.0M$26.0M
Other income, net (Note 6)$2.0M-$1.5M-$1.5M-$1.5M-$1.5M—
Payments for Environmental Liabilities—$3.0M$7.0M$8.0M—$11.0M
Payment for (Proceeds from) Other Investing Activity—-$41.0M-$1.0M-$18.0M—$4.0M
Payments for Repurchase of Common Stock$241.0M$394.0M$146.0M$147.0M$103.0M$96.0M
Payments for Restructuring$15.0M$18.0M$27.0M$17.0M$20.0M$16.0M
Payments of Ordinary Dividends, Common Stock—$154.0M$154.0M$160.0M—$159.0M
Payments to Acquire Businesses, Net of Cash Acquired$2.0M$0.0$0.0$0.0$1.0M$79.0M
Payments to Acquire Property, Plant, and Equipment$208.0M$209.0M$121.0M$147.0M$301.0M$196.0M
Expenditures for property, plant and equipment (including business acquisitions)—$209.0M$121.0M$147.0M—$275.0M
Principal pension plans – net (Note 13)$0.0$0.0$0.0$0.0$0.0—
Proceeds from long-term lines of credit—$309.0M———$0.0
Proceeds From Other Debt—$940.0M———$0.0
Proceeds from other short-term debt—$0.0$0.0$0.0—$567.0M
Financing — other-$1.0M-$3.0M-$20.0M$0.0-$8.0M$54.0M
Net additions (releases) charged to costs and expenses—$2.0M$5.0M$6.0M—$1.0M
Reclassified net gains (losses) from AOCI into earnings—$143.0M$4.0M$5.0M—$5.0M
Repayments of Debt$0.0$0.0$341.0M$0.0$698.0M$700.0M
Research and development expense$106.0M$102.0M$106.0M$106.0M$109.0M$113.0M
Revenue From Contract With Customer Excluding Assessed Tax$3.7B$3.7B$4.2B$4.1B$3.9B$3.9B
Stock-based compensation$12.0M$23.0M$13.0M-$1.0M$11.0M$11.0M
Expected volatility—29.4%———27.2%
Weighted-average grant date fair value of stock options (in dollars per share)—$32.93———$32.75
Risk-free rate—4.2%———3.8%
Options granted (in shares)—541.3K950——278.9K
Weighted-average dividend yield—1.8%———1.9%
Issuance of common stock and reissuance of treasury stock under equity incentive plans, net of forfeitures, value—$37.0M$5.0M$5.0M—$48.0M
Tax cost related to unrealized currency translation adjustments other than translation of foreign denominated balance sheets—$60.0M-$99.0M-$34.0M—-$16.0M
Purchases of treasury stock transacted but not yet settled—$0.0———$8.0M
Treasury stock, value, acquired—$385.0M$151.0M$152.0M—$101.0M
Add: dilutive effect of potential common shares (in shares)—$900.0K$900.0K$800.0K—$700.0K
Comprehensive Income (Loss), Total—$654.0M$954.0M$521.0M—$377.0M
Cash Dividends, Common Stock—$154.0M$154.0M$160.0M—$159.0M
Comprehensive Income, Including Noncontrolling Interest—$654.0M$954.0M$521.0M—$377.0M
Foreign Currency Translation Adjustment, Net of Tax—$281.0M$498.0M$72.0M—-$6.0M
OCI Defined Benefit Plan, After Tax—$5.0M$2.0M-$2.0M—$2.0M
Other Comprehensive Income (Loss)—$648.0M$941.0M$531.0M—$380.0M
OCI Pension Adjustments—$5.0M$2.0M-$2.0M—$2.0M
OCI Reclassifications to Net Income—$143.0M$4.0M$5.0M—$5.0M
Comprehensive Income Including Noncontrolling Interest—$654.0M$954.0M$521.0M—$377.0M
Other Comprehensive Income (Loss) Before Reclassifications, Net of Tax—$132.0M$487.0M$73.0M—-$7.0M
Total Comprehensive Income—$654.0M$954.0M$521.0M—$377.0M
OCI Pension Reclassification Adjustment, Pre-tax—$5.0M$2.0M-$2.0M—$2.0M
Comprehensive Income—$654.0M$954.0M$521.0M—$377.0M
Other Comprehensive Loss Before Reclassifications, Net—$132.0M$487.0M$73.0M—-$7.0M
OCI Defined Benefit Plan, Net of Tax—$5.0M$2.0M-$2.0M—$2.0M
Stock Repurchased During Period, Value—$394.0M$146.0M$147.0M—$96.0M

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Stock-Based Compensation Expense$12.0M$23.0M$13.0M-$1.0M$11.0M$11.0M
Amortization of Finite-Lived Intangible Assets$32.0M$32.0M$33.0M$32.0M$28.0M$27.0M
Share-Based Compensation Expense$12.0M$23.0M$13.0M-$1.0M$11.0M$11.0M
Amortization expense$32.0M$32.0M$33.0M$32.0M$28.0M$27.0M
Compensation and benefits—$23.0M$13.0M-$1.0M—$11.0M
Restructuring Reserve Accrual Adjustment—-$13.0M-$11.0M-$3.0M—-$1.0M
Depreciation and amortization$119.0M$121.0M$135.0M$138.0M$134.0M$132.0M
Environmental Remediation Expense—$0.0$16.0M$1.0M—$0.0
Stock-based compensation expense$12.0M$23.0M$13.0M-$1.0M$11.0M$11.0M
Provision for credit losses—$2.0M$5.0M$6.0M—$1.0M
Research and development$106.0M$102.0M$106.0M$106.0M$109.0M$113.0M
Selling, general and administrative$835.0M$838.0M$872.0M$824.0M$905.0M$885.0M
Share-Based Compensation$12.0M$23.0M$13.0M-$1.0M$11.0M$11.0M

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Weighted Average Diluted Shares Adjustment—$900.0K$900.0K$800.0K—$700.0K
Basic earnings per share from continuing operations$0.0$1.6$2.0$2.0$1.4$1.7
Diluted earnings per share from continuing operations$0.0$1.6$2.0$2.0$1.3$1.7
Diluted earnings per share from discontinued operations-$1.2-$0.0$0.0$0.0—$0.0
EPS from Discontinued Operations, Diluted-$1.2-$0.0$0.0$0.0—$0.0
Basic EPS from Continuing Operations$0.0$1.6$2.0$2.0$1.4$1.7
Diluted EPS from Continuing Operations$0.0$1.6$2.0$2.0$1.3$1.7
Common stock dividends per share cash paid—$0.7$0.7$0.7—$0.7
EPS from Continuing Operations$0.0$1.6$2.0$2.0$1.3$1.7
Diluted EPS from Discontinued Operations-$1.2-$0.0$0.0$0.0—$0.0
Dividends Per Share, Cash Paid—$0.7$0.7$0.7—$0.7
Common Stock Dividends Per Share Cash Paid—$0.7$0.7$0.7—$0.7
Diluted EPS from continuing operations$0.0$1.6$2.0$2.0$1.3$1.7
Basic earnings per share—$1.63$1.98$2.01$1.34$1.71
Basic EPS from continuing operations$0.02$1.64$1.98$1.97$1.35$1.71
Basic EPS from discontinued operations$-1.21$-0.01$0.00$0.04—$0.00
Diluted earnings per share—$1.63$1.98$2.00$1.34$1.70
Diluted EPS from discontinued operations$-1.20$-0.01$0.00$0.04—$0.00
Continuing operations (in dollars per share)$0.0$1.6$2.0$2.0$1.4$1.7
Continuing operations (in dollars per share)$0.0$1.6$2.0$2.0$1.3$1.7
Discontinued operations (in dollars per share)-$1.2-$0.0$0.0$0.0—$0.0
EPS from Continuing Operations$0.0$1.6$2.0$2.0$1.4$1.7
Common Stock Dividends Per Share (Cash Paid)—$0.7$0.7$0.7—$0.7
Basic EPS from Continuing Operations$0.0$1.6$2.0$2.0$1.4$1.7
Diluted EPS from Continuing Operations$0.0$1.6$2.0$2.0$1.3$1.7
Diluted EPS from Discontinued Operations-$1.2-$0.0$0.0$0.0—$0.0
Weighted Average Diluted Shares Adjustment—$900.0K$900.0K$800.0K—$700.0K
Antidilutive Securities Excluded from EPS—3M3M3M—3.2M
Basic EPS from continuing operations$0.0$1.6$2.0$2.0$1.4$1.7
Diluted EPS from continuing operations$0.0$1.6$2.0$2.0$1.3$1.7
Diluted EPS from discontinued operations-$1.2-$0.0$0.0$0.0—$0.0
Diluted EPS from Continuing Operations$0.0$1.6$2.0$2.0$1.4$1.7
Diluted EPS from Discontinued Operations-$1.2-$0.0$0.0$0.0—$0.0
EPS - Discontinued Operations (Diluted)-$1.2-$0.0$0.0$0.0—$0.0
Dividends per common share—$0.7$0.7$0.7—$0.7
Diluted EPS from discontinued operations-$1.2-$0.0$0.0$0.0—$0.0
Dividends per share, cash paid—$0.68$0.68$0.71—$0.71
Dividends Per Share (Paid)—$0.7$0.7$0.7—$0.7
Common Stock Dividends Per Share (Cash Paid)—$0.7$0.7$0.7—$0.7
EPS from continuing operations$0.0$1.6$2.0$2.0$1.3$1.7
Common stock dividends per share cash paid—$0.7$0.7$0.7—$0.7
Discontinued operations per diluted share-$1.2-$0.0$0.0$0.0—$0.0
Common stock dividends per share cash paid—$0.7$0.7$0.7—$0.7
Basic EPS from continuing operations$0.0$1.6$2.0$2.0$1.4$1.7
EPS from Discontinued Operations (Diluted)-$1.2-$0.0$0.0$0.0—$0.0
Weighted average number diluted shares outstanding adjustment—$900.0K$900.0K$800.0K—$700.0K
Weighted-average shares, basic—228M226.8M225.7M—223.7M
Weighted-average shares, diluted—228.9M227.7M226.5M—224.4M

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effective Tax Rate (Continuing Operations)—$0.2———$0.3
Effective Tax Rate—$0.2———$0.3
Cash Paid for Income Taxes—$123.0M$107.0M$106.0M—$144.0M
Effective Tax Rate, Continuing Operations—$0.2———$0.3
Effective Income Tax Rate, Continuing Operations—$0.2———$0.3
Income Taxes on Defined Benefit Plans—-$2.0M-$1.0M-$1.0M—-$1.0M
Effective Tax Rate—$0.2———$0.3
Effective Tax Rate (Continuing Operations)—$0.2———$0.3
Income Taxes Paid, Net—$123.0M$107.0M$106.0M—$144.0M
Income tax expense$70.0M$122.0M$140.0M$118.0M$78.0M$132.0M
Deferred Tax Expense from Stock Options Exercised—$5.0M$3.0M$0.0—$2.0M
Effective Tax Rate (Continuing Operations)—$0.2———$0.3
Deferred Income Tax Expense (Benefit)—-$20.0M-$2.0M-$20.0M—$11.0M
Effective Tax Rate (Continuing Operations)—$0.2———$0.3
Income Taxes Paid, Net—$123.0M$107.0M$106.0M—$144.0M
Effective Income Tax Rate—$0.2———$0.3
Effective Tax Rate, Continuing Operations—$0.2———$0.3
Income and Other Taxes—$123.0M$107.0M$106.0M—$144.0M
Effective Tax Rate Continuing Operations—$0.2———$0.3

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other Non-Cash Income (Expense)$95.0M$2.0M-$124.0M-$46.0M-$19.0M$26.0M
Cash Paid for Interest$49.0M$55.0M$62.0M$55.0M$38.0M$105.0M
Other non-cash income (expense)$95.0M$2.0M-$124.0M-$46.0M-$19.0M$26.0M
Gain (loss) on disposal of assets—$7.0M————
Other Charges$2.0M-$1.5M-$1.5M-$1.5M-$1.5M—
Interest expense$57.0M$56.0M$62.0M$65.0M$58.0M$61.0M
Interest income$42.0M$43.0M$44.0M$42.0M$24.0M$37.0M
Change in Receivables—$396.0M$349.0M——$343.0M
OCI Defined Benefit Plans—$5.0M$2.0M-$2.0M—$2.0M
Other Non-Cash Income (Expense)$95.0M$2.0M-$124.0M-$46.0M-$19.0M$26.0M
Other income (expense), net—$2.0M-$124.0M-$46.0M—$26.0M
Other Non-cash Income (Expense)$95.0M$2.0M-$124.0M-$46.0M-$19.0M$26.0M
Other Non-Cash Income (Expense)$95.0M$2.0M-$124.0M-$46.0M-$19.0M$26.0M

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Foreign Exchange Revenue (Expense)—$8.0M$20.0M——-$4.0M
Total revenue$3.7B$3.7B$4.2B$4.1B$3.9B$3.9B
Membership and other income—$34.0M-$34.0M-$9.0M—$16.0M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Comprehensive income (loss), including noncontrolling interest—$654.0M$954.0M$521.0M—$377.0M
Common Stock Dividends—$154.0M$154.0M$160.0M—$159.0M
Cash Dividends, Common Stock—$154.0M$154.0M$160.0M—$159.0M
Income from discontinued operations-$282.0M-$2.0M$0.0$9.0M—$0.0
Net income attributable to noncontrolling interests—$5.0M$8.0M-$6.0M—$3.0M
Net income—$373.0M$450.0M$453.0M$300.0M$382.0M
Income from continuing operations$0.0$380.0M$458.0M$438.0M$295.0M$385.0M
Income from Continuing Operations Attributable to Common Shareowners$0.0$1.6$2.0$2.0$1.3$1.7
Common Stock Dividends—$154.0M$154.0M$160.0M—$159.0M
Distributions to Noncontrolling Interest Holders—$3.0M$11.0M$1.0M—$3.0M
Noncontrolling Interest Redemptions—$15.0M————

Operating Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gross profit$1.5B$1.5B$1.8B$1.7B$1.6B$1.7B
Operating income—$607.0M$743.0M$689.0M—$636.0M

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes$81.0M$502.0M$598.0M$556.0M$389.0M$517.0M

Cost of Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total cost of revenue$2.2B$2.1B$2.4B$2.4B$2.3B$2.3B