PPG INDUSTRIES INC (PPG) Fundamental Analysis & Valuation

NYSE:PPG • US6935061076

118.18 USD
-1.02 (-0.86%)
At close: Mar 3, 2026
118.18 USD
0 (0%)
After Hours: 3/3/2026, 8:04:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership News

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

Fundamental Rating

5

Overall PPG gets a fundamental rating of 5 out of 10. We evaluated PPG against 83 industry peers in the Chemicals industry. PPG has an excellent profitability rating, but there are some minor concerns on its financial health. PPG is not valued too expensively and it also shows a decent growth rate. PPG also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

7

1. PPG Profitability Analysis

1.1 Basic Checks

  • In the past year PPG was profitable.
  • In the past year PPG had a positive cash flow from operations.
  • In the past 5 years PPG has always been profitable.
  • Of the past 5 years PPG 4 years 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

  • The Return On Assets of PPG (4.50%) is better than 79.52% of its industry peers.
  • The Return On Equity of PPG (12.77%) is better than 85.54% of its industry peers.
  • With an excellent Return On Invested Capital value of 9.54%, PPG belongs to the best of the industry, outperforming 80.72% of the companies in the same industry.
Industry RankSector Rank
ROA 4.5%
ROE 12.77%
ROIC 9.54%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
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

  • The Profit Margin of PPG (7.05%) is better than 77.11% of its industry peers.
  • In the last couple of years the Profit Margin of PPG has grown nicely.
  • PPG has a better Operating Margin (14.70%) than 75.90% of its industry peers.
  • In the last couple of years the Operating Margin of PPG has grown nicely.
  • Looking at the Gross Margin, with a value of 40.46%, PPG belongs to the top of the industry, outperforming 83.13% of the companies in the same industry.
  • In the last couple of years the Gross Margin of PPG has remained more or less at the same level.
Industry RankSector Rank
OM 14.7%
PM (TTM) 7.05%
GM 40.46%
OM growth 3Y8.61%
OM growth 5Y1.75%
PM growth 3Y14.75%
PM growth 5Y5.34%
GM growth 3Y4.33%
GM growth 5Y-1.26%
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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ROAROEROICOperating and Profit MarginShow most profitable peers

4

2. PPG Health Analysis

2.1 Basic Checks

  • PPG has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • There is no outstanding debt for PPG. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
PPG Yearly Shares OutstandingPPG Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 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 5B 10B 15B 20B

2.2 Solvency

  • An Altman-Z score of 3.64 indicates that PPG is not in any danger for bankruptcy at the moment.
  • PPG has a better Altman-Z score (3.64) than 85.54% of its industry peers.
  • The Debt to FCF ratio of PPG is 10.09, which is on the high side as it means it would take PPG, 10.09 years of fcf income to pay off all of its debts.
  • The Debt to FCF ratio of PPG (10.09) is better than 65.06% of its industry peers.
  • A Debt/Equity ratio of 0.76 indicates that PPG is somewhat dependend on debt financing.
  • With a Debt to Equity ratio value of 0.76, PPG perfoms like the industry average, outperforming 45.78% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.76
Debt/FCF 10.09
Altman-Z 3.64
ROIC/WACC0.71
WACC13.36%
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 2B 4B 6B

2.3 Liquidity

  • PPG has a Current Ratio of 1.47. This is a normal value and indicates that PPG is financially healthy and should not expect problems in meeting its short term obligations.
  • PPG's Current ratio of 1.47 is on the low side compared to the rest of the industry. PPG is outperformed by 69.88% of its industry peers.
  • A Quick Ratio of 1.08 indicates that PPG should not have too much problems paying its short term obligations.
  • PPG's Quick ratio of 1.08 is on the low side compared to the rest of the industry. PPG is outperformed by 60.24% of its industry peers.
Industry RankSector Rank
Current Ratio 1.47
Quick Ratio 1.08
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 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

  • The earnings per share for PPG have decreased by -6.42% in the last year.
  • Measured over the past 5 years, PPG shows a small growth in Earnings Per Share. The EPS has been growing by 5.87% on average per year.
  • PPG shows a small growth in Revenue. In the last year, the Revenue has grown by 0.19%.
  • Measured over the past years, PPG shows a small growth in Revenue. The Revenue has been growing by 2.79% on average per year.
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

  • The Earnings Per Share is expected to grow by 8.62% on average over the next years. This is quite good.
  • Based on estimates for the next years, PPG will show a small growth in Revenue. The Revenue will grow by 4.30% on average per year.
EPS Next Y6.89%
EPS Next 2Y7.56%
EPS Next 3Y8.35%
EPS Next 5Y8.62%
Revenue Next Year4.2%
Revenue Next 2Y3.58%
Revenue Next 3Y3.49%
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.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
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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4

4. PPG Valuation Analysis

4.1 Price/Earnings Ratio

  • PPG is valuated correctly with a Price/Earnings ratio of 15.59.
  • 72.29% of the companies in the same industry are more expensive than PPG, based on the Price/Earnings ratio.
  • The average S&P500 Price/Earnings ratio is at 26.83. PPG is valued slightly cheaper when compared to this.
  • Based on the Price/Forward Earnings ratio of 14.59, the valuation of PPG can be described as correct.
  • PPG's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. PPG is cheaper than 63.86% of the companies in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 24.95, PPG is valued a bit cheaper.
Industry RankSector Rank
PE 15.59
Fwd PE 14.59
PPG Price Earnings VS Forward Price EarningsPPG Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • The rest of the industry has a similar Enterprise Value to EBITDA ratio as PPG.
  • PPG's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 36.58
EV/EBITDA 12.45
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 an expensive valuation of the company.
  • PPG has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)2.26
PEG (5Y)2.66
EPS Next 2Y7.56%
EPS Next 3Y8.35%

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

7

5. PPG Dividend Analysis

5.1 Amount

  • PPG has a Yearly Dividend Yield of 2.30%. Purely for dividend investing, there may be better candidates out there.
  • PPG's Dividend Yield is a higher than the industry average which is at 2.19.
  • PPG's Dividend Yield is a higher than the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 2.3%

5.2 History

  • On average, the dividend of PPG grows each year by 6.16%, which is quite nice.
  • 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)6.16%
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 62.85% of its income as dividend. This is not a sustainable payout ratio.
  • PPG's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP62.85%
EPS Next 2Y7.56%
EPS Next 3Y8.35%
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 (3/3/2026, 8:04:00 PM)

After market: 118.18 0 (0%)

118.18

-1.02 (-0.86%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryChemicals
Earnings (Last)01-27
Earnings (Next)04-27
Inst Owners88.79%
Inst Owner Change2.74%
Ins Owners0.09%
Ins Owner Change-0.5%
Market Cap26.52B
Revenue(TTM)15.88B
Net Income(TTM)996.00M
Analysts72.26
Price Target126.93 (7.4%)
Short Float %3.22%
Short Ratio3.4
Dividend
Industry RankSector Rank
Dividend Yield 2.3%
Yearly Dividend2.67
Dividend Growth(5Y)6.16%
DP62.85%
Div Incr Years34
Div Non Decr Years34
Ex-Date02-20
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-0.24%
Min EPS beat(2)-1.41%
Max EPS beat(2)0.93%
EPS beat(4)2
Avg EPS beat(4)0.31%
Min EPS beat(4)-3.35%
Max EPS beat(4)5.06%
EPS beat(8)3
Avg EPS beat(8)-0.09%
EPS beat(12)7
Avg EPS beat(12)2.84%
EPS beat(16)10
Avg EPS beat(16)4.1%
Revenue beat(2)0
Avg Revenue beat(2)-0.19%
Min Revenue beat(2)-0.26%
Max Revenue beat(2)-0.12%
Revenue beat(4)0
Avg Revenue beat(4)-2.44%
Min Revenue beat(4)-8.85%
Max Revenue beat(4)-0.12%
Revenue beat(8)1
Avg Revenue beat(8)-2.35%
Revenue beat(12)2
Avg Revenue beat(12)-1.68%
Revenue beat(16)4
Avg Revenue beat(16)-1.09%
PT rev (1m)4.6%
PT rev (3m)3.72%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-0.51%
EPS NY rev (1m)-0.61%
EPS NY rev (3m)-2.36%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.03%
Revenue NY rev (1m)1.73%
Revenue NY rev (3m)1.55%
Valuation
Industry RankSector Rank
PE 15.59
Fwd PE 14.59
P/S 1.88
P/FCF 36.58
P/OCF 18.94
P/B 3.4
P/tB N/A
EV/EBITDA 12.45
EPS(TTM)7.58
EY6.41%
EPS(NY)8.1
Fwd EY6.86%
FCF(TTM)3.23
FCFY2.73%
OCF(TTM)6.24
OCFY5.28%
SpS62.95
BVpS34.76
TBVpS-1.33
PEG (NY)2.26
PEG (5Y)2.66
Graham Number76.99
Profitability
Industry RankSector Rank
ROA 4.5%
ROE 12.77%
ROCE 12.56%
ROIC 9.54%
ROICexc 10.78%
ROICexgc 24.16%
OM 14.7%
PM (TTM) 7.05%
GM 40.46%
FCFM 5.13%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3Y8.61%
OM growth 5Y1.75%
PM growth 3Y14.75%
PM growth 5Y5.34%
GM growth 3Y4.33%
GM growth 5Y-1.26%
F-Score5
Asset Turnover0.64
Health
Industry RankSector Rank
Debt/Equity 0.76
Debt/FCF 10.09
Debt/EBITDA 2.31
Cap/Depr 140.04%
Cap/Sales 4.78%
Interest Coverage 9.39
Cash Conversion 54.73%
Profit Quality 72.79%
Current Ratio 1.47
Quick Ratio 1.08
Altman-Z 3.64
F-Score5
WACC13.36%
ROIC/WACC0.71
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-6.42%
EPS 3Y7.75%
EPS 5Y5.87%
EPS Q2Q%-6.21%
EPS Next Y6.89%
EPS Next 2Y7.56%
EPS Next 3Y8.35%
EPS Next 5Y8.62%
Revenue 1Y (TTM)0.19%
Revenue growth 3Y0.55%
Revenue growth 5Y2.79%
Sales Q2Q%4.96%
Revenue Next Year4.2%
Revenue Next 2Y3.58%
Revenue Next 3Y3.49%
Revenue Next 5Y4.3%
EBIT growth 1Y-10.25%
EBIT growth 3Y9.21%
EBIT growth 5Y4.59%
EBIT Next Year25.51%
EBIT Next 3Y12.14%
EBIT Next 5Y10.04%
FCF growth 1Y-43.4%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-29.01%
OCF growth 3YN/A
OCF growth 5YN/A

PPG INDUSTRIES INC / PPG FAQ

What is the fundamental rating for PPG stock?

ChartMill assigns a fundamental rating of 5 / 10 to PPG.


What is the valuation status for PPG stock?

ChartMill assigns a valuation rating of 4 / 10 to PPG INDUSTRIES INC (PPG). This can be considered as Fairly Valued.


Can you provide the profitability details for PPG INDUSTRIES INC?

PPG INDUSTRIES INC (PPG) has a profitability rating of 7 / 10.


Can you provide the financial health for PPG stock?

The financial health rating of PPG INDUSTRIES INC (PPG) is 4 / 10.


What is the earnings growth outlook for PPG INDUSTRIES INC?

The Earnings per Share (EPS) of PPG INDUSTRIES INC (PPG) is expected to grow by 6.89% in the next year.