Sherwin-Williams vs Westlake
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KIRA’s take AI analyst
I put Sherwin-Williams and Westlake side by side, using each one’s latest annual report. Here is what stands out:
- Sherwin-Williams is the larger business, with $23.6B of revenue in fiscal 2025 against $11.2B for Westlake, about 2.1 times as much.
- Sherwin-Williams grew revenue faster (2.1%, against −8.0%).
- Sherwin-Williams turned more of its sales into free cash flow (11.3% FCF margin, against −4.7%).
- Sherwin-Williams earned a higher return on the capital invested in it (19.9%, against −10.0%).
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
Sherwin-Williams
SHW
8/9
Revenue growthGross marginNet marginFCF marginReturn on capitalReturn on equityPiotroski F-scoreShare count change
Westlake
WLK
1/9
5-year growth
Side by side
Best in the row
| Latest fiscal year | SHW FY25 | WLK FY25 |
|---|---|---|
| Size | ||
| Market cap | $82.4B | $8.4B |
| Revenue | $23.6B | $11.2B |
| Free cash flow | $2.7B | −$530M |
| Net income | $2.6B | −$1.5B |
| Growth | ||
| Revenue growth | 2.1% | −8.0% |
| 5-year growth | 5.1% | 8.3% |
| Share count change | −1.5% | −0.7% |
| Profitability | ||
| Gross margin | 48.9% | 7.3% |
| Operating margin | — | −14.1% |
| Net margin | 10.9% | −13.5% |
| FCF margin | 11.3% | −4.7% |
| Return on capital | 19.9% | −10.0% |
| Return on equity | 59.4% | −15.6% |
| Balance sheet | ||
| Net debt | $10.9B | $2.9B |
| Net debt / EBITDA | 2.4x | — |
| Dividends and buybacks | $2.4B | $335M |
| Valuation & quality | ||
| P/E | 30.9x | — |
| Piotroski F-score | 6 | 3 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.