Newmont vs Sherwin-Williams
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The short version
- Sherwin-Williams is the larger business, with $23.6B of revenue in fiscal 2025 against $22.7B for Newmont.
- Newmont grew revenue faster (21.3%, against 2.1%).
- Newmont turned more of its sales into free cash flow (32.2% FCF margin, against 11.3%).
- Newmont earned a higher return on the capital invested in it (20.6%, against 19.9%).
- Investors pay more for each dollar of Sherwin-Williams’s earnings: a P/E of 31.1x against 12.7x for Newmont.
| Latest fiscal year | NEM · FY25 | SHW · FY25 |
|---|---|---|
| Size | ||
| Market cap | $114.4B | $82.9B |
| Revenue | $22.7B | $23.6B |
| Free cash flow | $7.3B | $2.7B |
| Net income | $7.1B | $2.6B |
| Growth | ||
| Revenue growth | 21.3% | 2.1% |
| 5-year growth | 14.5% | 5.1% |
| Share count change | −3.5% | −1.5% |
| Profitability | ||
| Gross margin | — | 48.9% |
| Operating margin | — | — |
| Net margin | 31.3% | 10.9% |
| FCF margin | 32.2% | 11.3% |
| Return on capital | 20.6% | 19.9% |
| Return on equity | 22.2% | 59.4% |
| Balance sheet | ||
| Net debt | −$2.7B | $10.9B |
| Net debt / EBITDA | −0.2x | 2.4x |
| Dividends and buybacks | $3.4B | $2.4B |
| Valuation & quality | ||
| P/E | 12.7x | 31.1x |
| Piotroski F-score | 8 | 6 |
Revenue
FY16
NEM $6.7B
SHW $11.9B
FY17
NEM $7.4B
SHW $15.0B
FY18
NEM $7.3B
SHW $17.5B
FY19
NEM $9.7B
SHW $17.9B
FY20
NEM $11.5B
SHW $18.4B
FY21
NEM $12.2B
SHW $19.9B
FY22
NEM $11.9B
SHW $22.1B
FY23
NEM $11.8B
SHW $23.1B
FY24
NEM $18.7B
SHW $23.1B
FY25
NEM $22.7B
SHW $23.6B
NEM
SHW
Operating margin
FY16
NEM —
SHW 18.3%
FY17
NEM —
SHW 14.9%
FY18
NEM —
SHW 14.9%
FY19
NEM —
SHW 15.7%
FY20
NEM —
SHW 18.4%
FY21
NEM —
SHW 15.5%
FY22
NEM —
SHW 15.3%
FY23
NEM —
SHW 18.1%
FY24
NEM —
SHW —
FY25
NEM —
SHW —
NEM
SHW
Free cash flow
FY16
NEM $1.7B
SHW $1.1B
FY17
NEM $1.3B
SHW $1.7B
FY18
NEM $795M
SHW $1.7B
FY19
NEM $1.4B
SHW $2.0B
FY20
NEM $3.6B
SHW $3.1B
FY21
NEM $2.6B
SHW $1.9B
FY22
NEM $1.1B
SHW $1.3B
FY23
NEM $97.0M
SHW $2.6B
FY24
NEM $3.0B
SHW $2.1B
FY25
NEM $7.3B
SHW $2.7B
NEM
SHW
Return on capital
FY16
NEM 0.3%
SHW 55.3%
FY17
NEM 5.8%
SHW 26.4%
FY18
NEM 3.8%
SHW 15.8%
FY19
NEM 15.8%
SHW 17.0%
FY20
NEM 10.3%
SHW 22.0%
FY21
NEM 2.8%
SHW 21.5%
FY22
NEM 0.4%
SHW 21.0%
FY23
NEM −5.0%
SHW 23.9%
FY24
NEM 9.6%
SHW 22.1%
FY25
NEM 20.6%
SHW 19.9%
NEM
SHW
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.