PPG Industries (PPG) stock
Materials · Specialty Chemicals
PPG Industries (PPG) is a Specialty Chemicals company in the Materials sector, headquartered in Pittsburgh, Pennsylvania. As of October 23, 2026, PPG closed at $110.61, a market capitalization of $24.59 billion, the 363rd largest company in the S&P 500. Over the last twelve months it generated $16.42 billion in revenue (+7% year over year) and $1.41 billion in free cash flow. The stock trades at 15.9x trailing earnings and 12.9x forward earnings.
- 1-year total return: +9.7% (dividends reinvested)
- 5-year return: -5.3% a year
- 52-week range: $93.39 – $133.43
- Gross margin 41.2%, operating margin 14.0%
- Dividend yield: 2.68%, 42 straight years of increases
- FI Handbook report card: B- across 10 metrics
- 12th largest of 24 Materials stocks in the S&P 500
PPG price chart
1Y price change: +6.9% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| PPG | +3.2% | +10.0% | +9.7% | -1.4% | -5.3% | +3.8% | +12.2% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1980.
PPG key statistics
- Market cap
- $24.6B
- #363 in S&P 500
- P/E (TTM)
- 15.9x
- Forward P/E
- 12.9x
- EPS (TTM)
- $6.96
- Revenue (TTM)
- $16.4B
- +7%
- Free cash flow
- $1.4B
- Gross margin
- 41.2%
- Operating margin
- 14.0%
- Return on equity
- 19.3%
- Dividend yield
- 2.68%
- 52-week range
- $93.39 – $133.43
- Beta
- 1.05
- Price / sales
- 1.5x
- EV / EBITDA
- 11.3x
- Debt / equity
- 0.87x
- Employees
- 43,500
PPG report card
B-Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth7.2%C
- Gross margin41.2%B
- Operating margin14.0%C
- FCF margin8.6%C
- Return on equity19.3%B
- Net debt / EBITDA2.2xD
- Forward P/E12.9xA
- PEG ratio1.5xC
- Shareholder yield5.9%A
- Share count change / yr-0.9%B
PPG Industries financials
Revenue went from $14.3B in fiscal 2016 to $15.9B in fiscal 2025, growing 1.2% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $14.3B | $14.7B | $15.4B | $15.1B | $13.8B | $16.8B | $15.6B | $16.2B | $15.8B | $15.9B |
| Gross profit | — | $6.5B | $6.4B | $6.5B | $6.1B | $6.5B | $5.6B | $6.6B | $6.6B | $6.6B |
| Operating income | $2.4B | $2.3B | $2.1B | $2.3B | $2.1B | $2.2B | $2.0B | $2.7B | — | — |
| Net income | $873.0M | $1.6B | $1.3B | $1.2B | $1.1B | $1.4B | $1.0B | $1.3B | $1.1B | $1.6B |
| EPS (diluted) | $3.27 | $6.18 | $5.47 | $5.22 | $4.45 | $6.01 | $4.32 | $5.35 | $4.75 | $6.94 |
| Free cash flow | $971.0M | $1.2B | $1.1B | $1.7B | $1.8B | $1.2B | $477.0M | $1.9B | $699.0M | $1.2B |
| Buybacks | $1.1B | $813.0M | $1.7B | $325.0M | $0 | $210.0M | $190.0M | $86.0M | $752.0M | $790.0M |
| Dividends paid | $414.0M | $434.0M | $453.0M | $468.0M | $496.0M | $536.0M | $570.0M | $598.0M | $622.0M | $628.0M |
| Diluted shares | 267.4M | 257.8M | 245.4M | 238.2M | 237.9M | 239.4M | 237.3M | 237.2M | 234.9M | 227.1M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into PPG?
A reverse DCF asks what growth the current price requires. With an enterprise value of $30.4B and $1.4B of trailing free cash flow, PPG Industries needs to grow free cash flow about 12.5% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew -8.6% a year over the last five years.
P/E ratio history
Current 15.9x vs. median 20.6x (10th–90th percentile 12.1x–34.3x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
PPG dividend
- Dividend yield
- 2.68%
- Annual dividend
- $2.96
- Years of increases
- 42
- 5-yr dividend growth
- 5.8%
- per year
- Payout ratio
- 41%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
PPG analyst price targets
22 analysts' average 12-month target is $125.50 (+13% vs. $110.61). Targets range from $115.00 to $138.00. 48% rate it a buy.
PPG earnings
Next report: October 27, 2026. Last quarter's revenue was $4.5B (+7% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 28, 2026 | $2.25 | $2.23 | -1.0% |
| Apr 28, 2026 | $1.77 | $1.83 | +3.6% |
| Jan 27, 2026 | $1.58 | $1.51 | -4.4% |
| Oct 28, 2025 | $2.08 | $2.13 | +2.3% |
| Jul 29, 2025 | $2.22 | $2.22 | -0.0% |
| Apr 29, 2025 | $1.62 | $1.72 | +6.0% |
| Jan 30, 2025 | $1.63 | $1.61 | -1.5% |
| Oct 16, 2024 | $2.15 | $2.13 | -0.9% |
Stocks like PPG
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 SHW Sherwin-Williams | -2.48% | +3% | $81.8B | 31.1x | Compare |
 ECL Ecolab | -1.29% | +6% | $80.9B | 38.7x | Compare |
 IFF International Flavors & Fragran | +0.34% | +46% | $24.0B | 93.2x | Compare |
 LYB LyondellBasell Industries NV | +1.65% | +51% | $21.5B | — | Compare |
 ALB Albemarle | +1.22% | -3% | $11.1B | 346.9x | Compare |
 LIN Linde | -0.30% | +15% | $234.6B | 32.8x | Compare |
 NEM Newmont | -4.59% | +24% | $113.1B | 12.6x | Compare |
 FCX Freeport-McMoRan | +0.91% | +60% | $93.6B | 32.1x | Compare |
PPG news
- PPG Launches Sustainable Synthetic Paper With Enhanced Performance · Oct 21, 2026
- PPG Industries (PPG) Reports Next Week: What Awaits? · Oct 20, 2026
- PPG Board of Directors announces quarterly dividend of 74 cents per share · Oct 15, 2026
- Sherwin-Williams (SHW) vs. PPG Industries (PPG): Which Paint Giant Is the Better Buy? · Oct 12, 2026
- PPG Invests $70 Million to Expand Aerospace Operations in Huntsville · Oct 9, 2026
PPG stock FAQ
What is PPG's market cap?
PPG Industries's market capitalization is $24.59 billion as of October 23, 2026, ranking 363rd in the S&P 500.
What is PPG's P/E ratio?
PPG trades at a trailing price-to-earnings ratio of 15.9x and a forward P/E of 12.9x. Its median P/E over the period we track is 20.6x.
Does PPG pay a dividend?
Yes. PPG Industries pays $2.96 per share a year, a 2.68% yield. It has raised its dividend 42 years in a row. Dividends grew 5.8% a year over the last five years.
How much has PPG stock returned?
Including reinvested dividends, PPG returned +9.7% over one year, -5.3% a year over five years, +3.8% a year over ten years through October 23, 2026.
Is PPG stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies PPG Industries must grow free cash flow about 13% a year for the next decade. Its free cash flow fell 9% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the PPG price target?
22 analysts cover PPG with an average 12-month price target of $125.50, +13% from the current price. 48% of them rate it a buy.
When does PPG report earnings?
PPG Industries is expected to report earnings on October 27, 2026.
How many employees does PPG Industries have?
PPG Industries has about 43,500 full-time employees, or $377,494 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology