PPG INDUSTRIES INC (PPG) Fundamental Analysis & Valuation

NYSE:PPG • US6935061076

Current stock price

111.67 USD
+0.75 (+0.68%)
At close:
111.67 USD
0 (0%)
After Hours:

This PPG fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

8

1. PPG Profitability Analysis

1.1 Basic Checks

  • In the past year PPG was profitable.
  • PPG had a positive operating cash flow in the past year.
  • In the past 5 years PPG has always been profitable.
  • Each year in the past 5 years PPG had a positive operating cash flow.
PPG Yearly Net Income VS EBIT VS OCF VS FCFPPG Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B 2B

1.2 Ratios

  • PPG's Return On Assets of 7.13% is amongst the best of the industry. PPG outperforms 86.59% of its industry peers.
  • With an excellent Return On Equity value of 19.85%, PPG belongs to the best of the industry, outperforming 91.46% of the companies in the same industry.
  • PPG's Return On Invested Capital of 9.50% is amongst the best of the industry. PPG outperforms 81.71% of its industry peers.
  • PPG had an Average Return On Invested Capital over the past 3 years of 10.47%. This is above the industry average of 6.49%.
Industry RankSector Rank
ROA 7.13%
ROE 19.85%
ROIC 9.5%
ROA(3y)6.25%
ROA(5y)6.09%
ROE(3y)17.5%
ROE(5y)18.19%
ROIC(3y)10.47%
ROIC(5y)9.39%
PPG Yearly ROA, ROE, ROICPPG Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15 20 25

1.3 Margins

  • PPG has a Profit Margin of 9.93%. This is amongst the best in the industry. PPG outperforms 87.80% of its industry peers.
  • In the last couple of years the Profit Margin of PPG has grown nicely.
  • PPG has a Operating Margin of 13.55%. This is in the better half of the industry: PPG outperforms 74.39% of its industry peers.
  • PPG's Operating Margin has improved in the last couple of years.
  • Looking at the Gross Margin, with a value of 41.32%, PPG belongs to the top of the industry, outperforming 85.37% of the companies in the same industry.
  • PPG's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 13.55%
PM (TTM) 9.93%
GM 41.32%
OM growth 3Y8.57%
OM growth 5Y1.73%
PM growth 3Y14.75%
PM growth 5Y5.34%
GM growth 3Y4.59%
GM growth 5Y-1.12%
PPG Yearly Profit, Operating, Gross MarginsPPG Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30 40

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5

2. PPG Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), PPG is destroying value.
  • PPG has less shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, PPG has less shares outstanding
  • PPG has a worse debt/assets ratio than last year.
PPG Yearly Shares OutstandingPPG Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M 250M
PPG Yearly Total Debt VS Total AssetsPPG Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B 20B

2.2 Solvency

  • An Altman-Z score of 3.71 indicates that PPG is not in any danger for bankruptcy at the moment.
  • PPG's Altman-Z score of 3.71 is amongst the best of the industry. PPG outperforms 84.15% of its industry peers.
  • The Debt to FCF ratio of PPG is 6.28, which is on the high side as it means it would take PPG, 6.28 years of fcf income to pay off all of its debts.
  • PPG has a better Debt to FCF ratio (6.28) than 73.17% of its industry peers.
  • A Debt/Equity ratio of 0.83 indicates that PPG is somewhat dependend on debt financing.
  • The Debt to Equity ratio of PPG (0.83) is worse than 60.98% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.83
Debt/FCF 6.28
Altman-Z 3.71
ROIC/WACC0.73
WACC13.1%
PPG Yearly LT Debt VS Equity VS FCFPPG Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B

2.3 Liquidity

  • PPG has a Current Ratio of 1.62. This is a normal value and indicates that PPG is financially healthy and should not expect problems in meeting its short term obligations.
  • PPG has a worse Current ratio (1.62) than 64.63% of its industry peers.
  • PPG has a Quick Ratio of 1.22. This is a normal value and indicates that PPG is financially healthy and should not expect problems in meeting its short term obligations.
  • The Quick ratio of PPG (1.22) is comparable to the rest of the industry.
Industry RankSector Rank
Current Ratio 1.62
Quick Ratio 1.22
PPG Yearly Current Assets VS Current LiabilitesPPG Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. PPG Growth Analysis

3.1 Past

  • PPG shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -6.42%.
  • PPG shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 5.87% yearly.
  • Looking at the last year, PPG shows a small growth in Revenue. The Revenue has grown by 0.19% in the last year.
  • The Revenue has been growing slightly by 2.79% on average over the past years.
EPS 1Y (TTM)-6.42%
EPS 3Y7.75%
EPS 5Y5.87%
EPS Q2Q%-6.21%
Revenue 1Y (TTM)0.19%
Revenue growth 3Y0.55%
Revenue growth 5Y2.79%
Sales Q2Q%4.96%

3.2 Future

  • PPG is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 8.62% yearly.
  • PPG is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.30% yearly.
EPS Next Y4.92%
EPS Next 2Y6.65%
EPS Next 3Y7.76%
EPS Next 5Y8.62%
Revenue Next Year4.23%
Revenue Next 2Y3.62%
Revenue Next 3Y3.45%
Revenue Next 5Y4.3%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
PPG Yearly Revenue VS EstimatesPPG Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 5B 10B 15B 20B
PPG Yearly EPS VS EstimatesPPG Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 2 4 6 8 10

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5

4. PPG Valuation Analysis

4.1 Price/Earnings Ratio

  • PPG is valuated correctly with a Price/Earnings ratio of 14.73.
  • Based on the Price/Earnings ratio, PPG is valued a bit cheaper than the industry average as 78.05% of the companies are valued more expensively.
  • PPG's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.79.
  • The Price/Forward Earnings ratio is 14.04, which indicates a correct valuation of PPG.
  • PPG's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. PPG is cheaper than 74.39% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 38.88. PPG is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 14.73
Fwd PE 14.04
PPG Price Earnings VS Forward Price EarningsPPG Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, PPG is valued a bit cheaper than 62.20% of the companies in the same industry.
  • PPG's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. PPG is cheaper than 70.73% of the companies in the same industry.
Industry RankSector Rank
P/FCF 21.49
EV/EBITDA 11.14
PPG Per share dataPPG EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 40 60

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates PPG does not grow enough to justify the current Price/Earnings ratio.
  • PPG has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)3
PEG (5Y)2.51
EPS Next 2Y6.65%
EPS Next 3Y7.76%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

7

5. PPG Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 2.53%, PPG has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 2.01, PPG pays a bit more dividend than its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.81, PPG pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 2.53%

5.2 History

  • The dividend of PPG has a limited annual growth rate of 5.73%.
  • PPG has been paying a dividend for at least 10 years, so it has a reliable track record.
  • PPG has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)5.73%
Div Incr Years34
Div Non Decr Years34
PPG Yearly Dividends per sharePPG Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5 2 2.5

5.3 Sustainability

  • PPG pays out 39.85% of its income as dividend. This is a sustainable payout ratio.
  • The dividend of PPG is growing, but earnings are growing more, so the dividend growth is sustainable.
DP39.85%
EPS Next 2Y6.65%
EPS Next 3Y7.76%
PPG Yearly Income VS Free CF VS DividendPPG Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B
PPG Dividend Payout.PPG Dividend Payout, showing the Payout Ratio.PPG Dividend Payout.PayoutRetained Earnings

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PPG Fundamentals: All Metrics, Ratios and Statistics

PPG INDUSTRIES INC

NYSE:PPG (4/22/2026, 8:04:00 PM)

After market: 111.67 0 (0%)

111.67

+0.75 (+0.68%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryChemicals
Earnings (Last)01-27
Earnings (Next)04-28
Inst Owners91.42%
Inst Owner Change-0.03%
Ins Owners0.09%
Ins Owner Change-0.34%
Market Cap24.99B
Revenue(TTM)15.88B
Net Income(TTM)1.58B
Analysts72.67
Price Target124.36 (11.36%)
Short Float %3.24%
Short Ratio3.28
Dividend
Industry RankSector Rank
Dividend Yield 2.53%
Yearly Dividend2.77
Dividend Growth(5Y)5.73%
DP39.85%
Div Incr Years34
Div Non Decr Years34
Ex-Date05-11
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-2.28%
Min EPS beat(2)-5.5%
Max EPS beat(2)0.93%
EPS beat(4)2
Avg EPS beat(4)-0.23%
Min EPS beat(4)-5.5%
Max EPS beat(4)5.06%
EPS beat(8)2
Avg EPS beat(8)-0.92%
EPS beat(12)6
Avg EPS beat(12)1.78%
EPS beat(16)9
Avg EPS beat(16)3.34%
Revenue beat(2)1
Avg Revenue beat(2)1.2%
Min Revenue beat(2)-0.12%
Max Revenue beat(2)2.51%
Revenue beat(4)1
Avg Revenue beat(4)0.4%
Min Revenue beat(4)-0.54%
Max Revenue beat(4)2.51%
Revenue beat(8)1
Avg Revenue beat(8)-2.14%
Revenue beat(12)2
Avg Revenue beat(12)-1.57%
Revenue beat(16)4
Avg Revenue beat(16)-1.12%
PT rev (1m)-2.02%
PT rev (3m)2.49%
EPS NQ rev (1m)-0.1%
EPS NQ rev (3m)-3.07%
EPS NY rev (1m)-1.7%
EPS NY rev (3m)-2.84%
Revenue NQ rev (1m)0.03%
Revenue NQ rev (3m)1.97%
Revenue NY rev (1m)0.04%
Revenue NY rev (3m)1.76%
Valuation
Industry RankSector Rank
PE 14.73
Fwd PE 14.04
P/S 1.57
P/FCF 21.49
P/OCF 12.88
P/B 3.15
P/tB N/A
EV/EBITDA 11.14
EPS(TTM)7.58
EY6.79%
EPS(NY)7.95
Fwd EY7.12%
FCF(TTM)5.2
FCFY4.65%
OCF(TTM)8.67
OCFY7.77%
SpS70.93
BVpS35.48
TBVpS-0.8
PEG (NY)3
PEG (5Y)2.51
Graham Number77.7917 (-30.34%)
Profitability
Industry RankSector Rank
ROA 7.13%
ROE 19.85%
ROCE 12.51%
ROIC 9.5%
ROICexc 10.91%
ROICexgc 23.81%
OM 13.55%
PM (TTM) 9.93%
GM 41.32%
FCFM 7.33%
ROA(3y)6.25%
ROA(5y)6.09%
ROE(3y)17.5%
ROE(5y)18.19%
ROIC(3y)10.47%
ROIC(5y)9.39%
ROICexc(3y)11.71%
ROICexc(5y)10.36%
ROICexgc(3y)27.1%
ROICexgc(5y)24.13%
ROCE(3y)13.79%
ROCE(5y)12.36%
ROICexgc growth 3Y6.59%
ROICexgc growth 5Y0.95%
ROICexc growth 3Y8.92%
ROICexc growth 5Y1.97%
OM growth 3Y8.57%
OM growth 5Y1.73%
PM growth 3Y14.75%
PM growth 5Y5.34%
GM growth 3Y4.59%
GM growth 5Y-1.12%
F-Score6
Asset Turnover0.72
Health
Industry RankSector Rank
Debt/Equity 0.83
Debt/FCF 6.28
Debt/EBITDA 2.47
Cap/Depr 147.35%
Cap/Sales 4.9%
Interest Coverage 10.24
Cash Conversion 72.45%
Profit Quality 73.79%
Current Ratio 1.62
Quick Ratio 1.22
Altman-Z 3.71
F-Score6
WACC13.1%
ROIC/WACC0.73
Cap/Depr(3y)130.76%
Cap/Depr(5y)110.38%
Cap/Sales(3y)4.28%
Cap/Sales(5y)3.67%
Profit Quality(3y)94.35%
Profit Quality(5y)81.84%
High Growth Momentum
Growth
EPS 1Y (TTM)-6.42%
EPS 3Y7.75%
EPS 5Y5.87%
EPS Q2Q%-6.21%
EPS Next Y4.92%
EPS Next 2Y6.65%
EPS Next 3Y7.76%
EPS Next 5Y8.62%
Revenue 1Y (TTM)0.19%
Revenue growth 3Y0.55%
Revenue growth 5Y2.79%
Sales Q2Q%4.96%
Revenue Next Year4.23%
Revenue Next 2Y3.62%
Revenue Next 3Y3.45%
Revenue Next 5Y4.3%
EBIT growth 1Y-4.7%
EBIT growth 3Y9.17%
EBIT growth 5Y4.57%
EBIT Next Year24.36%
EBIT Next 3Y11.99%
EBIT Next 5Y10.04%
FCF growth 1Y66.38%
FCF growth 3Y37.74%
FCF growth 5Y-8.43%
OCF growth 1Y36.69%
OCF growth 3Y26.32%
OCF growth 5Y-1.66%

PPG INDUSTRIES INC / PPG Fundamental Analysis FAQ

What is the fundamental rating for PPG stock?

ChartMill assigns a fundamental rating of 6 / 10 to PPG.


What is the valuation status for PPG stock?

ChartMill assigns a valuation rating of 5 / 10 to PPG INDUSTRIES INC (PPG). This can be considered as Fairly Valued.


How profitable is PPG INDUSTRIES INC (PPG) stock?

PPG INDUSTRIES INC (PPG) has a profitability rating of 8 / 10.


What are the PE and PB ratios of PPG INDUSTRIES INC (PPG) stock?

The Price/Earnings (PE) ratio for PPG INDUSTRIES INC (PPG) is 14.73 and the Price/Book (PB) ratio is 3.15.


Can you provide the expected EPS growth for PPG stock?

The Earnings per Share (EPS) of PPG INDUSTRIES INC (PPG) is expected to grow by 4.92% in the next year.