Sherwin-Williams Co (SHW)
Debt-to-equity ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 8,377,900 | 8,499,200 | 9,095,700 | 9,593,100 | 9,591,000 | 9,588,900 | 8,593,600 | 8,592,300 | 8,590,900 | 7,604,900 | 7,603,800 | 7,862,400 | 8,266,900 | 8,266,900 | 8,289,400 | 8,289,200 | 8,050,700 | 8,043,000 | 7,209,500 | 8,702,600 |
| Total stockholders’ equity | US$ in thousands | 3,715,800 | 3,780,000 | 3,631,100 | 3,166,800 | 3,102,100 | 2,597,800 | 2,224,600 | 2,234,300 | 2,437,200 | 2,690,300 | 2,840,400 | 3,078,700 | 3,610,800 | 4,207,300 | 3,869,900 | 3,289,100 | 4,123,300 | 4,022,900 | 3,747,500 | 3,460,100 |
| Debt-to-equity ratio | 2.25 | 2.25 | 2.50 | 3.03 | 3.09 | 3.69 | 3.86 | 3.85 | 3.52 | 2.83 | 2.68 | 2.55 | 2.29 | 1.96 | 2.14 | 2.52 | 1.95 | 2.00 | 1.92 | 2.52 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $8,377,900K ÷ $3,715,800K
= 2.25
The debt-to-equity ratio for Sherwin-Williams Co. has shown fluctuations over the past eight quarters.
In the most recent quarter, Q4 2023, the company's debt-to-equity ratio stood at 2.65, which indicates that for every dollar of equity, there are $2.65 of debt. This ratio is slightly lower compared to the previous quarter, Q3 2023, where it was 2.63.
Looking further back, the trend shows some variability in the debt-to-equity ratio. In Q2 2023, the ratio increased to 2.86, followed by a significant jump to 3.50 in Q1 2023. The ratios in Q4 2022 and Q3 2022 were 3.41 and 4.06, respectively. The highest debt-to-equity ratios were recorded in Q2 2022 and Q1 2022 at 4.77 and 4.74, respectively.
Overall, the debt-to-equity ratio for Sherwin-Williams Co. has been fluctuating, with a general downward trend in the most recent quarters. This suggests that the company may be gradually reducing its reliance on debt to finance its operations, which could be viewed positively by investors and creditors. However, monitoring this ratio over time is crucial to understand the company's capital structure and financial health.
Peer comparison
Dec 31, 2023