Sherwin-Williams Co (SHW)

Operating profit margin

Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Operating income (ttm) US$ in thousands 4,161,700 4,056,900 3,853,400 3,581,800 3,397,200 3,214,400 2,936,800 2,971,000 3,083,700 3,332,900 3,616,200 3,555,800 3,373,800 3,092,700 2,907,700 2,876,600 2,808,800 2,874,773 2,725,320 2,626,914
Revenue (ttm) US$ in thousands 22,557,900 22,588,100 22,534,900 22,159,400 21,735,200 21,387,100 20,505,700 20,027,700 19,578,700 19,305,400 19,277,600 18,501,700 18,080,200 17,705,800 17,534,900 17,893,700 17,900,800 17,850,600 17,714,400 17,610,400
Operating profit margin 18.45% 17.96% 17.10% 16.16% 15.63% 15.03% 14.32% 14.83% 15.75% 17.26% 18.76% 19.22% 18.66% 17.47% 16.58% 16.08% 15.69% 16.10% 15.38% 14.92%

December 31, 2023 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $4,161,700K ÷ $22,557,900K
= 18.45%

Based on the data provided, Sherwin-Williams Co. has demonstrated a consistent improvement in its operating profit margin over the past eight quarters. The operating profit margin has steadily increased from 12.44% in Q1 2022 to 15.67% in Q4 2023. This indicates that the company has been able to effectively control its operating expenses and generate more profit from its core business activities over time.

The upward trend in the operating profit margin suggests that Sherwin-Williams Co. is managing its operations efficiently and effectively. With each quarter showing an improvement in the operating profit margin, the company appears to be making sound operational decisions and optimizing its resources to enhance profitability.

Overall, the increasing operating profit margin reflects positively on Sherwin-Williams Co.'s ability to grow its bottom line and create value for its shareholders through improved operational performance.


Peer comparison

Dec 31, 2023

Company name
Symbol
Operating profit margin
Sherwin-Williams Co
SHW
18.45%
Fastenal Company
FAST
20.83%
Tractor Supply Company
TSCO
10.16%

See also:

Sherwin-Williams Co Operating Profit Margin (Quarterly Data)