PPG Industries Inc

PPG Industries makes paints, coatings and specialty products and sells them in more than 50 countries. It was incorporated in Pennsylvania in 1883. It earns money by selling to factories, repair shops, contractors, retailers and consumers. Its single largest production cost is raw materials such as resins, solvents and titanium dioxide, a white pigment. In fiscal 2025, revenue was $15.9 billion. Gross margin, the share of sales left after direct production costs, was 41.3%.

Industrial Coatings was the largest segment, at 41.1% of fiscal 2025 revenue. It ships coatings straight to factories that build cars, appliances and construction equipment. It also makes coatings for food and drink cans, plus specialty materials such as TESLIN, which is used in e-passports and driver's licenses. Performance Coatings (34.7%) serves the aerospace industry, auto body shops, builders of ships and bridges, and governments that mark roads. Global Architectural Coatings (24.2%) sells house paint under brands such as COMEX, Glidden, Sigma and Tikkurila. It sells through company-owned stores, home centers and dealers.

Sales are split evenly between the US and Canada and the Europe, Middle East and Africa region, at 33.8% each. Asia Pacific contributed 18.5% and Latin America 13.8%. Main rivals include Sherwin-Williams, Akzo Nobel, Axalta and Nippon Paint.

• In Q3 FY2026 (ended Sep 30, 2026), revenue was $4.35B, up 6.6% from a year earlier, and net income was $451.0M (-0.4%).
• For fiscal 2025, revenue was $15.88B (+0.2% year over year; +0.6% a year from FY2022 to FY2025) with a 9.9% net margin.

• Over FY2021–FY2025: $2.03B in buybacks and $2.95B in dividends.
• At least 9 consecutive annual increases: every fiscal year in the SEC data (FY2016–FY2025) shows an increase; the true streak may be longer.
• Regular dividends per share grew +5.8% a year over 5 years (FY2020–FY2025).
• Dividends took 39.8% of earnings and 54% of free cash flow in the latest fiscal year.
• Shares outstanding changed -6.4% from Jan 31, 2022 to Sep 30, 2026.

Rank among 1514 US companies

Market value at each year end

PPG Industries’s market value went from $25.02B at the end of 2016 to $27.59B on Nov 2, 2026, up 10%; since the end of 2025 it is up 20%.

Form 4 filings from 2025-11-03 to 2026-11-03 (25 read): 0 open-market purchases and 0 sales ($0.00).

Large shareholders (13G filings)

ETFs with the most weight in PPG

1. Raw material costs and shortages. Raw materials such as resins, solvents and titanium dioxide are PPG's largest production cost, and many are petroleum-based. Shortages have disrupted production before, and if costs rise faster than PPG can raise prices, profits shrink.
2. Aerospace unit must meet production targets. PPG's aerospace coatings business, part of Performance Coatings, depends partly on meeting customer demand, production targets and commitments. Falling short could cost sales and hurt results.
3. Currency swings across a global business. Only about a third of sales come from the US and Canada. When the US dollar strengthens, sales and profits earned in other currencies shrink once translated into dollars.
4. Weak economies, tariffs and trade tensions. Demand rises and falls with economic conditions. PPG cites interest rates, tariffs, the war in Ukraine and US-China tensions as sources of uncertainty that could reduce orders from car, construction and industrial customers.
5. Crowded, price-sensitive coatings industry. PPG competes with global giants such as Sherwin-Williams, Akzo Nobel and Axalta, plus many regional firms. Rivalry on price, quality and service can limit how much it can charge.
6. Lawsuits and evolving environmental rules. PPG faces lawsuits and claims seeking substantial damages, and it must meet changing environmental standards. Adverse rulings or stricter rules could bring large, unexpected costs.

• Oct 27, 2026 Quarterly results released
• Jul 28, 2026 Quarterly results released
• Apr 28, 2026 Quarterly results released
• Apr 28, 2026 Executive or board change
• Apr 21, 2026 Executive or board change; Shareholder vote results
• Apr 15, 2026 Quarterly results released
• Jan 27, 2026 Quarterly results released
• Dec 11, 2025 Executive or board change
• Nov 3, 2025 Major agreement signed; New debt or financial obligation; Other company announcement

PPG has raised its dividend at least nine years in a row through fiscal 2025, and the true streak may be longer. Dividends per share rose from $2.10 in fiscal 2020 to $2.78 in fiscal 2025, about 5.8% a year. In fiscal 2025 the dividend used 39.8% of earnings and 54% of free cash flow (cash left after capital spending). Free cash flow swings, though: in fiscal 2022 it was $477 million, below the $570 million paid in dividends. The yield was 2.42% as of October 28, 2026. Buybacks totaled $2.03 billion over fiscal 2021 to 2025.

The stock has fallen hard in downturns. It dropped 62.9% in the 2008 financial crisis and recovered about 19 months after its low. It fell 39.3% in the 2020 COVID crash and recovered within about five months. After a 36.8% drop in 2022, it had not regained its January 2022 peak as of October 28, 2026. Like any single stock, PPG carries more risk than a diversified fund.