The Sherwin-Williams Company was founded by Henry Sherwin and Edward Williams in 1866. Today, we are a global leader in the manufacture, development, distribution and sale of paint, coatings and related products to professional, industrial, commercial and retail customers.
The Company manufactures products under well-known brands such as Sherwin-Williams®, Dutch Boy®, Krylon®, Minwax®, Thompson’s® Water Seal® and many more. With global headquarters in Cleveland, Ohio, Sherwin-Williams® branded products are sold exclusively through more than 4,600 company-operated stores and facilities, while the Company’s other brands are sold through leading mass merchandisers, home centers, independent paint dealers, hardware stores, automotive retailers and industrial distributors. For more information, visit www.sherwin-williams.com.
The Company is comprised of four reportable segments, which together provide our customers innovative solutions to ensure their success, no matter where they work, or what surfaces they are coating.
The Sherwin-Williams Company is an equal opportunity employer that recruits, selects and hires on the basis of individual qualifications and prohibits unlawful discrimination based on race, color, religion, sex, national origin, protected veteran status, disability, age, sexual orientation or any other consideration made unlawful by federal, state or local laws.
Paint Stores Group
Paint Stores Group operates the exclusive outlets for Sherwin-Williams® branded paints, stains, supplies, equipment and floor covering in the U.S., Canada and the Caribbean.
Latin America Coatings Group
Latin America Coatings Group manufactures and sells a wide range of architectural paints, industrial coatings and related products throughout Latin America.
Consumer Group sells one of the industry’s strongest portfolios of branded and private-label products through retailers primarily in North America and in parts of Europe and Latin America, and also operates a highly efficient and productive global supply chain for paint, coatings and related products.
Global Finishes Group
Global Finishes Group manufactures and sells a wide range of OEM product finishes, protective and marine coatings, and automotive finishes to a growing customer base in nearly 100 countries.
Our Global FootprintsClick on each circle to see more info.
- Paint Stores Group stores
- Latin America Coatings Group stores & facilities
- Consumer Group facilities
- Global Finishes Group branches & facilities
- Corporate headquarters
Paint Stores Group’s Stores
District of Columbia 5
New Hampshire 20
New Jersey 90
New Mexico 23
New York 129
North Carolina 152
North Dakota 9
Rhode Island 11
South Carolina 81
South Dakota 10
West Virginia 19
British Columbia 49
New Brunswick 3
Nova Scotia 4
- TOTAL 4,086
Comex North America, Inc.
Contract Transportation Systems Co.
CTS National Corporation
Omega Specialty Products & Services LLC
Sherwin-Williams Realty Holdings, Inc.
The Sherwin-Williams Acceptance
Compania Sherwin-Williams, S.A. de C.V.
Jiangsu Pulanna Coating Co., Ltd.
Oy Sherwin-Williams Finland Ab
Pinturas Condor S.A.
Pinturas Industriales S.A.
Productos Quimicos y Pinturas, S.A. de C.V.
Przedsiebiorstwo Altax Sp. z o.o
PT Sherwin-Williams Indonesia
Quetzal Pinturas, S.A. de C.V.
Ronseal (Ireland) Limited
Sherwin-Williams Argentina I.y C.S.A.
Sherwin-Williams Aruba VBA
Sherwin-Williams (Australia) Pty. Ltd.
Sherwin-Williams Automotive Mexico S.de
Sherwin-Williams Balkan S.R.L.
Sherwin-Williams (Belize) Limited
Sherwin-Williams Benelux NV
Sherwin-Williams Canada Inc.
Sherwin-Williams (Caribbean) N.V.
Sherwin-Williams Cayman Islands Limited
Sherwin-Williams Chile S.A.
Sherwin-Williams Coatings India Private Limited
Sherwin-Williams Coatings S.a r.l.
Sherwin-Williams Colombia S.A.S.
Sherwin-Williams Czech Republic spol. s r.o
Sherwin-Williams Denmark A/S
Sherwin-Williams Deutschland GmbH
Sherwin-Williams Diversified Brands (Australia)
Sherwin-Williams Diversified Brands Limited
Sherwin-Williams do Brasil Industria e
Sherwin-Williams France Finishes SAS
Sherwin-Williams HK Limited
Sherwin-Williams (Ireland) Limited
Sherwin-Williams Italy S.r.l.
Sherwin-Williams Luxembourg Investment
Management Company S.a r.l.
Sherwin-Williams (Malaysia) Sdn. Bhd.
Sherwin-Williams (Nantong) Company Limited
Sherwin-Williams Norway AS
Sherwin-Williams Paints Limited Liability
Sherwin-Williams Peru S.R.L.
Sherwin-Williams Pinturas de Venezuela S.A.
Sherwin-Williams Poland Sp. z o.o
Sherwin-Williams Protective & Marine
Sherwin-Williams (S) Pte. Ltd.
Sherwin-Williams Services (Malaysia) Sdn. Bhd.
Sherwin-Williams (Shanghai) Limited
Sherwin-Williams Spain Coatings S.L.
Sherwin-Williams Sweden AB
Sherwin-Williams (Thailand) Co., Ltd.
Sherwin-Williams UK Automotive Limited
Sherwin-Williams Uruguay S.A.
Sherwin-Williams (Vietnam) Limited
Sherwin-Williams (West Indies) Limited
SWIPCO – Sherwin-Williams do Brasil
Propriedade Intelectual Ltda.
TOB Becker Acroma Ukraine
UAB Sherwin-Williams Baltic
Sherwin-Williams (South China) Co., Ltd.
The largest coatings manufacturer in the United States and third-largest worldwide
As a global leader in the development, manufacture and sale of paint, coatings and related products, Sherwin-Williams has an extensive retail presence throughout the Americas, and growing service capabilities in Europe and Asia/Pacific. The Paint Stores Group has 4,086 company-operated specialty paint stores in the United States, Canada and the Caribbean. More than 90 percent of the U.S. population lives within a 50-mile radius of a Sherwin-Williams store. The Consumer Group manages a highly efficient global supply chain consisting of 66 manufacturing plants and 37 distribution centers. The Global Finishes Group sells to a growing customer base in nearly 100 countries around the world and has 296 company-operated automotive, protective, marine and product finishes branches. The Latin America Coatings Group operates 291 stores primarily located in Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru and Uruguay, and sells through more than 500 dedicated dealer outlets.
|Net sales (thousands)||$11,339,304||$ 11,129,533||$10,185,532|
|Net income (thousands)||$ 1,053,849||$ 865,887||$ 752,561|
|Per common share:|
|Net income - Diluted||$ 11.16||$ 8.78||$ 7.26|
|Net income - Basic||$ 11.38||$ 8.95||$ 7.41|
|Cash dividends||$ 2.68||$ 2.20||$ 2.00|
|Average common shares oustanding (thousands)||92,197||96,190||100,898|
|Return on sales||9.3%||7.8%||7.4%|
|Return on assets||18.2%||15.2%||11.8%|
|Return on beginning shareholders' equity||105.8%||48.8%||42.0%|
|Total debt to capitalization||69.3%||64.4%||49.2%|
Millions of dollars
Millions of dollars
Net Income Per Share – Diluted
Net Operating Cash
Millions of dollars
2015 at a glance
Paint Stores Group
of total sales
Sherwin-Williams Paint Stores are the exclusive outlets for Sherwin-Williams® branded paints, stains, supplies, equipment and floor covering in the U.S., Canada and the Caribbean.
Sherwin-Williams Paint Stores Group is the leading operator of specialty paint stores in North America, with more than 4,000 stores located throughout the U.S., Canada and the Caribbean region. The stores are the exclusive outlets for Sherwin-Williams® branded paints, stains and supplies.
The Paint Stores Group serves a broad customer base including architectural and industrial painting contractors, residential and commercial builders and remodelers, property owners and managers, OEM product finishers and do-it-yourself homeowners. Net sales for the Group increased 5.2 percent to $7.21 billion in 2015, and segment profit rose 19.3 percent to $1.43 billion, driven by architectural sales volume growth across every end market segment. With a focus on developing new technologies to continuously improve product performance, the Paint Stores Group introduced approximately 20 new products during the year, including SuperDeck®, a comprehensive deck care finishing system, featuring premium Duckback® technology, to ensure long-lasting performance, easy cleanup and a beautiful finish. The Group also introduced ProMar® self-priming ceiling paint with a super flat finish, good light reflectivity and efficient spray application for a beautiful finished appearance in less time. In addition, the Sherwin-Williams stores launched Sketch PadTM, a dry erase clear gloss coating that can be easily applied over a previously painted surface to turn any open wall space into an erasable message board. In October 2015, the Group announced a significant technological breakthrough in the Company’s new Paint ShieldTM product. Paint Shield is the first EPAregistered microbicidal paint that continuously kills 99.9 percent of certain bacteria, including staph* and E. coli within 2 hours of exposure on painted surfaces.
By killing these infectious bacteria, Paint Shield offers customers an important new tool to help combat bacteria that can cause hospital-acquired infections. The effectiveness of Paint Shield lasts for up to four years, as long as the integrity of the surface is maintained. Paint Shield is available in Sherwin-Williams stores in the U.S. as of February 2016. During 2015, Paint Stores Group also launched ColorSnap®, an integrated color selection system. Designed to help consumers and professionals make confident paint color selections in less time, the ColorSnap system includes a mobile app, online color visualizer, designer color tools and in-store display, which combine to provide a completely new way for customers to explore and choose their colors. In addition, the Group’s new partnership with Wayfair.com – the largest online retailer of home furnishings in the U.S. – provides paint color recommendations and promotional offers to consumers who are actively involved in the home decorating process.
"Paint Stores Group launched the ColorSnap® integrated color selection system (photo at bottom), designed to help consumers and professionals make confident paint color selections."
For painting professionals, the Group introduced Sherwin-Williams Pro – a broad selection of tools and information to help contractors increase their productivity and profitability. Tools include ProBuy+, a mobile app, providing easy access to product savings, store locations, product data sheets and other tools needed to run their business; mys-w.com, where users can check account information and make payments; SMS/text communications; the Pro e-newsletter; Sherwin-Williams’ Professional Painting Contractor magazine; and ProDiscounts.
Latin America Coatings Group
of total sales
Our Latin America Coatings Group manufactures and sells a wide range of architectural paints, industrial coatings and related products throughout Latin America.
The Latin America Coatings Group manufactures and sells a wide range of architectural paints, industrial coatings and related products. Through its company-operated stores, dedicated dealers, home centers, distributors, hardware stores and other retailers, the Group reaches a market of approximately 425 million customers throughout Latin America, including customers in the architectural, protective and marine, product finishes, and automotive markets.
In 2015, Sherwin-Williams continued to expand its presence in Latin America, where the Company is well-known and its brands are highly regarded. For example, Sherwin-Williams is the market leader in architectural paint and wood care in Ecuador. The Company is also the protective and marine products leader in Brazil and Chile through the Company’s Sumaré® and Sherwin-Williams® brands, respectively. In the aerosol paint market, the Company’s Colorgin brand in Brazil, Marson® brand in Chile and Krylon® brand in Argentina are also market leaders. The Group debuted two new product lines in 2015 that will be sold in all Latin American countries. The pan-Latin America product offerings streamline ordering and inventory management, and provide global customers with consistent product performance and application. Ultra Protección is a light industrial paint line that delivers the quality, performance and application characteristics consistent with the Company’s Pro Industrial™ product line in the U.S. and Canada. Pro Constructor is an interior flat latex paint that delivers a quality finish and excellent durability. The Latin America Coatings Group opened 15 net new stores in the region in 2015, up from an annual average of three new stores in recent years. As of December 31, 2015, Sherwin-Williams has a total of 291 company-operated stores in Latin America, with 4,545 employees in Argentina, Brazil, Chile,
Sherwin-Williams was selected to supply the paint for a significant portion of new construction on the Olympic Village for the Rio 2016 Summer Olympics.
Colombia, Ecuador, Mexico, Peru and Uruguay. Sherwin-Williams also operates 10 manufacturing sites across the region and has subsidiaries in nine countries and licensees with operations in seven countries. During the year, the Group continued to expand its Dedicated Dealer program in Latin America. Dedicated dealers are independent businesses that predominantly stock Sherwin- Williams branded products supplied by the Latin America Coatings Group. A total of 86 stores joined the program in 2015, including 13 in Brazil, 14 in Argentina, one in Uruguay and 58 in Mexico, generating 17.1 percent growth in sales in gallons. The Latin America Coatings Group now has a total of 866 dedicated Sherwin-Williams outlets in Latin America. For the year, the Latin America Coatings Group’s net sales stated in U.S. dollars decreased 18.2 percent to $631.0 million, primarily due to unfavorable currency translation rate changes, which decreased sales by 19.3 percent. Segment profit decreased to $18.5 million compared with $40.5 million for the prior year, as the impact of foreign currency translation rate changes reduced segment profit by $16.0 million in 2015. The Latin America Coatings Group is well-positioned in the region with a competitive advantage due to the strength and popularity of its products and brands. The Group remains focused on growth through dedicated distribution, leveraging technology and best practices, and achieving strong market positions.
of total sales
Our Consumer Group sells one of the industry’s strongest portfolios of branded and private-label products through retailers across North America and in parts of Europe and Latin America, and also operates a highly effective global supply chain for paint, coatings and related products.
The Consumer Group offers a strong portfolio of branded and private-label products sold through retailers primarily in North America and in parts of Europe and Latin America. These brands enjoy leading market share positions, with high awareness and preference among do-ityourself and professional customers. Consumer Group also leads Sherwin-Williams’ worldwide architectural coatings research and development effort, and manages a global supply chain consisting of 66 manufacturing plants and 37 distribution centers.
The Consumer Group supplies paint retailers and automotive parts retailers primarily in North America and areas of Europe and Latin America with our well-known branded products, including Thompson’s® WaterSeal® exterior waterproofing products, Dutch Boy® and Pratt & Lambert® paint, Minwax® interior wood finishing products, Krylon® aerosol paints, Purdy® paint brushes and rollers, Ronseal™ woodcare products, H&C® Concrete decorative stains, Duckback® exterior wood stains, and Dupli-ColorTM automotive aerosol paints. During 2015, the Group launched the HGTV HOME® by Sherwin-Williams brand paint program in 1,760 Lowe’s stores in the U.S. This new product line features new and improved interior and exterior paint lines available at Sherwin-Williams company stores and Lowe’s stores in the U.S. Consumers can select from 1,100 shades, including 16 designer-inspired color collections, eight of which are exclusive to Lowe’s.
These color collections are each designed with 20 coordinating colors that work together in any combination, helping homeowners achieve roomto- room harmony in their homes. Sales of the HGTV HOME by Sherwin-Williams paint product line helped drive an overall 11.1 percent increase in net sales for the Consumer Group in 2015. For the year, net sales were $1.58 billion, compared with $1.42 billion in 2014. Segment profit was $308.8 million in 2015, up from $252.9 million for the prior year. Sherwin-Williams’ Global Supply Chain supported the launch of more than 40 new products during the year, including the breakthrough Paint Shield™, the first EPA-registered microbicidal paint; and the Pro Constructor paint line, the Group’s first Latin American global product launch. The global supply chain continues to facilitate the sharing of systems, tools, processes and best practices among its 103 manufacturing, distribution and logistics
Sales of the HGTV HOME® by Sherwin-Williams paint product line helped drive an overall 11.1 percent increase in net sales for the Consumer Group in 2015.
locations. To date, 29 of the Company’s U.S. sites have earned Star recognition in OSHA’s Voluntary Protection Programs, more than any other U.S. paint company. In addition, Sherwin-Williams has 28 facilities globally that are certified to ISO 14001 for environmental management systems and 12 sites globally that are certified to OHSAS 18001 for occupational health and safety management systems. In 2015, the Company formed the Innovation Resource Center to accelerate the sharing of innovative technologies across all Sherwin-Williams business units.
Global Finishes Group
of total sales
The Global Finishes Group manufactures and sells a wide range of OEM product finishes, protective and marine coatings, and automotive finishes to a growing customer base in nearly 100 countries.
The Global Finishes Group serves customers across five continents and nearly 100 countries. It operates approximately 300 facilities worldwide, providing a wide range of OEM product finishes, protective and marine coatings, and automotive finishes to a growing global customer base.
Global Finishes Group net sales stated in U.S. dollars decreased 7.9 percent to $1.92 billion in 2015. Unfavorable currency translation rate changes decreased net sales by 7.5 percent for the year. Segment profit was essentially flat at $201.9 million compared with $201.1 million in 2014, as unfavorable foreign currency translation rate changes decreased segment profit by $26.5 million in 2015. However, segment profit as a percent of sales improved for the year, due to greater operating efficiencies and good expense control. To meet the needs of a growing OEM customer base, the Group opened several new facilities during 2015, including an Asia headquarters office in Shanghai, a product finishes lab and blending facility in Indonesia, powder plants in Mexico and Poland, a manufacturing facility in Guadalajara, Mexico, and an industrial products lab in Germany. Product introductions for the OEM market included Polane® 8400, a biocompatible and chemically resistant coating for medical devices; Kem Aqua® 8710 water reducible alkyd fast dry enamel system for general industrial markets; Kem Aqua® 5001 and 5002 waterbase fluoropolymer coatings designed for the vinyl window market; and Ultra-Cure® clear and pigmented UV wood coatings for the kitchen cabinet and furniture markets. Sherwin-Williams continues to lead the protective and marine coatings market in the development of unique and differentiated products.
To meet the needs of a growing customer base, the Global Finishes Group opened an Asia headquarters office in Shanghai, and new facilities in Germany, Indonesia, Mexico and Poland.
The Company is the North American market leader in protective and light industrial coatings. New products introduced during the year included Dura-Plate® 6100, an innovative coating that helps restore crumbling concrete water structures and effectively extend the life of municipalities’ water infrastructure assets by many years; and Heat-Flex® 3500, which helps prevent pipe corrosion in refineries and chemical processing plants and provides an extra level of insulation. In automotive finishes, the Group holds the number-one market share position in vehicle and fleet refinishing in Central and South America. In North America, Sherwin-Williams is among the top three brands in automotive refinishing, and the leader in the production shop segment. During the year, the automotive finishes business introduced new categories of its FASTLINETM performance- and commercial-grade Associated Products, including safety products, aerosol coatings and automotive detailing products. To serve the aviation industry, Sherwin-Williams expanded its SKYScapes® basecoatclearcoat paint system, which provides airlines, plane owners and aircraft designers with a broad selection of color options, and enables MRO facilities and their paint shops to offer faster turnaround and adopt lean production techniques. The Group also introduced the SkyMatchTM Color Management System, a web-based platform that connects users to thousands of aerospace color formulations.