PPG

PPG Industries

$109.81

+1.10% Oct 21 close

MaterialsS&P 500 Compare

1M 3M 6M 1Y 2Y

PPGSPY

+4.7%

+4.6%

-5.9%

-0.4%

YTD

+9.2%

+8.0%

Live chart

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What they do

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. 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.

Basic Materials · Specialty Chemicals

For information only · Important disclosures

Grades vs sector

Momentum

43rd percentile in sector

12-1 return: +9.5%
Percentile within its GICS sector across the S&P 1500.

Growth

43rd percentile in sector

Revenue growth (YoY): +7.2%
Percentile within its GICS sector across the S&P 1500.

Value

53rd percentile in sector

C+

Forward E/P: 8.0% · EBITDA/EV: 9.0%
Percentile within its GICS sector across the S&P 1500.

Profitability

77th percentile in sector

B+

Profit margin: +9.6% · Return on equity: +19.3%
Percentile within its GICS sector across the S&P 1500.

Revisions

Not enough data yet

–

EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.

Our models

Not held by any of our 5 live models right now.

Quality Growth

Outside this model's universe or screens

Momentum Top 15

ranked 259 of 499 · 12-month momentum 9.5%

Momentum Blend

Not in the current book

New Highs Growth

Outside this model's universe or screens

Coteau Long Book

Not in the current book

News

More news

No recent headlines.

Key stats

52-week range$92.50 – $129.16

Valuation and fundamentals

Valuation & fundamentals

Bottom line

Leans expensive

Model read-out from the numbers below, not advice. Score -2 (DCF counts double).

▼DCF (base case)below the price by 51%

•Piotroski F-score6/9

•Net debt / EBITDA1.7x

Discounted cash flow

CyclicalValued on average-cycle margins

Bear

$25

-77%

growth -4% · disc. 10.2% · term. 2.0%

Base

$54

-51%

growth 1% · disc. 9.2% · term. 2.5%

Bull

$92

-16%

growth 4% · disc. 8.2% · term. 3.0%

Starting cash flow is mid-cycle: 8.0% average margin × current revenue = 1.3B (last 12 months: 1.2B at a 8% margin). On trailing cash flow the base case would be $50.

Reverse DCFfor context, not a signal

Not enough data to run a reverse DCF.

Edit assumptions · recalculates instantly

Your value per share–

Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-03-31). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 1.00 (n/a) × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.

Multiples vs Materials

P/E (trailing)

sector median 20.6×

–

Forward P/E

sector median 12.7×

–

EV / EBITDA

sector median 11.1×

–

Price / sales

sector median 1.4×

–

Price / book

sector median 2.3×

–

FCF yield

sector median 4.7%

–

Quality & financial health

Gross margin

41.4%

Operating margin

16.8%

FCF margin

7.6%

Net margin

9.8%

Return on equity

19.6%

Return on invested capital

15.3%

Net debt / EBITDA

1.7×

Current ratio

1.6×

Interest cover

11.2×

Cash conversion (OCF/NI)

1.3×

Piotroski F-score 6/9 · last two fiscal years

✓ Positive net income✓ Positive operating cash flow✓ Return on assets improved✓ Cash flow above net income✗ Long-term debt / assets fell✓ Current ratio improved✓ No share dilution✗ Gross margin improved✗ Asset turnover improved

Analysts

No analyst targets available.

Annual history

FY	Revenue	Net income	Free cash flow
2025	$15.9B	$1.6B	$1.2B
2024	$15.8B	$1.1B	$699.0M
2023	$16.2B	$1.3B	$1.9B
2022	$15.6B	$1.0B	$477.0M
2021	$16.8B	$1.4B	$1.2B
2020	$13.8B	$1.1B	$1.8B

From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR +0.6%.

Earnings

Next report: –

No EPS history available.

Stats refreshed – ET from Yahoo Finance (yfinance). "–" means the data isn't available. Refresh now

coteau

Independent research · Not investment advice · Important disclosures · Contact desk@coteau.app

Coteau Systematic Strategies publishes stock research and model portfolios. Results are hypothetical unless marked Live. Data: Yahoo Finance (15-min delayed), SEC EDGAR and the House Clerk.

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Beta 0.9 · Oct 21, 2026

PPG