PPG Industries, Inc.
Rank #228Capital ReturnPPG · NYSE · Basic Materials
PPG Industries, Inc. (PPG) — Rank #228 by gross profitability (GP/assets 0.30) · ROE 19.4% · Piotroski F-Score N/A.
As-of 2026-09-15 · CIK 0000079879 · all metrics point-in-time as of the filing date.
About
PPG Industries, Inc. manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa.
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It operates through three segments: Global Architectural Coatings, Performance Coatings, and Industrial Coatings. The Global Architectural Coatings segment supplies a variety of decorative coatings, adhesives, sealants, and finishes, as well as paint strippers, stains, and related chemicals. Its Performance Coatings segment offers aerospace coatings, automotive refinishing coatings, protective and marine coatings, and traffic solutions comprising paints, thermoplastics, raised pavement markers, and other technologies for pavement marking. The Industrial Coatings segment provides automotive OEM coatings, industrial coatings, and packaging coatings, as well as specialty products, such as optical monomers and coatings, low-friction coatings, and other specialty products. The company delivers its products to company-owned stores, home centers and other consumer retail outlets, paint dealers, concessionaires and independent distributors, company-owned distribution networks, and directly to manufacturing companies and retail customers. PPG Industries, Inc.
was incorporated in 1883 and is headquartered in Pittsburgh, Pennsylvania.
- Industry
- Specialty Chemicals
- Sector
- Basic Materials
- State
- PA
- Filer Category
- Large accelerated filer
- Fiscal Year End
- December 31
- Website
- ppg.com
Price History
Company Snapshot
P/E and reverse DCF are the primary valuation lenses at this stage.
Market Cap
$23.19B
P/E (annual)
15.0
P/S (annual)
1.5
P/B
2.9
P/OCF (annual)
11.9
Shareholder Yield
-43.7%
Employees
43,500
Industry
Specialty Chemicals
Exchange
NYSE
Signal Flags
Quality Profile
Profitability
Safety
1/1 passCash Flow
2/3 passGrowth
1/2 passTerry Smith quality gate
Passes 0/5 Terry Smith thresholds3 of 5 thresholds not computable from filed data.
What Growth Is Priced In
Implied revenue growth (10Y)
8.0%
The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).
Dilution drag: 46.4% — per-share value needs a total required return of 54.4% once share-count change is priced in.
vs. own 6-year median revenue growth: 10.9%
within its own historyCost-of-equity sensitivity (implied growth at different discount rates)
r = 8%
3.6%
r = 10% (base)
8.0%
r = 12%
11.7%
Net debt / market cap: 21.8%
Note: current FCF margin is 2.2σ above its historical mean — implied growth may understate valuation risk if the margin reverts.
Valuation History
Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.
P / E
Price / diluted EPS
P / S
Price / revenue per share
P / B
Price / book value per share
P / FCF
Price / free cash flow per share
Earnings bubble check
Current margins may be above sustainable levels — a P/E based on peak earnings can overstate cheapness.
Disclosure regression check
A previously-disclosed line item is no longer reported. Worth checking the filing for why.
FCF yield, shareholder yield, and buyback activity are the primary reads at this stage.
Profitability
Gross profitability (GP / assets)
0.30
Primary signal (Novy-Marx).
67th pctl of 34 SIC 28 peers
Return on equity
19.4%
Gross margin
41.3%
42nd pctl of 34 SIC 28 peers
Revenue growth (YoY)
17.5%
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2011 | 2012 | 2013 | 2020 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Growth
Revenue CAGR (3Y)
—
Revenue CAGR (5Y)
2.8%
Earnings CAGR (3Y)
15.4%
FCF CAGR (3Y)
—
Anti-fragile safety
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
1.68
3rd pctl of 31 SIC 28 peers (best = lowest)
Current ratio
1.61×
15th pctl of 34 SIC 28 peers
Quick ratio
0.89×
Net cash
-$5.17B
Cash & equivalents minus total debt.
Cash-flow health
Free cash flow
$1.16B
Operating cash flow minus capex.
Positive free cash flow
FCF / net income
-0.26
Cash-backing of earnings.
FCF/NI divergence
Unfavorable divergence (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
0.3%
Stock-based comp intensity.
Dividend safety
Composite score
3.2 / 5
Piotroski F-Score
F-Score
N/A
Only 8/9 components determinable.
Lifecycle Phase History
Lynch sell alert: Cyclical peak margin
Operating margin was 1.6σ above its trailing average before the downshift from capital_return to value as of 2020-12-31 -- Lynch's cyclical rule: sell near peak margins, before the cycle turns.