PPG Industries, Inc. (PPG) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 33M | 887M | 685M | 387M | -18M | 346M | 769M | 365M | -60M | 898M | 892M | 536M | 85M | 587M | 512M | 168M | -304M | 456M | 525M | 604M |
| Operating CF Margin % | 0.84% | 22.66% | 16.78% | 9.23% | -0.49% | 15.98% | 16.81% | 8.62% | -1.39% | 20.64% | 19.21% | 11% | 1.94% | 14.03% | 11.46% | 3.58% | -7.06% | 10.88% | 12.01% | 13.86% |
| Operating CF Growth % | 283.33% | 156.36% | -10.92% | 6.03% | 70% | -61.47% | -13.79% | -31.9% | -170.59% | 52.98% | 74.22% | 219.05% | 127.96% | 28.73% | -2.48% | -72.19% | -1221.74% | -52.8% | -37.65% | 25.57% |
| Net Income | 385M | 302M | 444M | 458M | 380M | -43M | 504M | 502M | 409M | 103M | 436M | 497M | 273M | 246M | 339M | 448M | 23M | 278M | 345M | 433M |
| Depreciation & Amortization | 132M | 135M | 139M | 135M | 121M | 88M | 150M | 124M | 141M | 150M | 142M | 133M | 133M | 133M | 135M | 141M | 145M | 149M | 146M | 137M |
| Stock-Based Compensation | 11M | 0 | 0 | 13M | 23M | 10M | 11M | 10M | 12M | 17M | 8M | 17M | 17M | 8M | 9M | 12M | 6M | 18M | 4M | 18M |
| Deferred Taxes | 11M | 15M | -20M | -2M | -20M | -29M | -24M | 0 | -45M | -52M | -19M | 19M | -131M | -28M | -34M | -59M | -36M | -23M | -3M | 68M |
| Other Non-Cash Items | -41M | -2M | -16M | 97M | -22M | 282M | 30M | -15M | -23M | 39M | 17M | 79M | 219M | -20M | -20M | -188M | 259M | -167M | -51M | -59M |
| Working Capital Changes | -465M | 437M | 138M | -314M | -500M | 38M | 98M | -256M | -554M | 641M | 308M | -209M | -426M | 248M | 83M | -186M | -701M | 201M | 84M | 7M |
| Change in Receivables | -343M | 384M | 171M | -349M | -396M | 255M | 107M | -275M | -344M | 368M | 170M | -251M | -277M | 376M | 148M | -262M | -530M | 313M | 104M | -126M |
| Change in Inventory | -156M | 191M | 30M | -26M | -230M | 136M | 4M | 22M | -229M | 133M | 246M | 132M | -308M | 231M | -21M | -112M | -325M | 55M | -54M | -91M |
| Change in Payables | 209M | -115M | -118M | 98M | 202M | -233M | -8M | 35M | -10M | 58M | -84M | -19M | 175M | -348M | -77M | 91M | 326M | -128M | 31M | 282M |
| Cash from Investing | -279M | -283M | -129M | -120M | -168M | 618M | -141M | -131M | -239M | -157M | -109M | -226M | -64M | -215M | -96M | 33M | -183M | -128M | -34M | -1.82B |
| Capital Expenditures | -196M | -301M | -147M | -121M | -209M | -198M | -156M | -115M | -256M | -168M | -139M | -122M | -120M | -150M | -104M | -70M | -194M | -151M | -78M | -62M |
| CapEx % of Revenue | 4.99% | 7.69% | 3.6% | 2.88% | 5.67% | 9.15% | 3.41% | 2.72% | 5.94% | 3.86% | 2.99% | 2.5% | 2.74% | 3.58% | 2.33% | 1.49% | 4.5% | 3.6% | 1.78% | 1.42% |
| Acquisitions | -79M | 42M | 0 | 0 | 0 | 323M | -2M | -17M | 0 | -1M | -2M | -106M | 0 | -71M | 0 | -34M | -9M | 0 | -11M | -1.77B |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -4M | -24M | 18M | 1M | 41M | 493M | -91M | 1M | 17M | 12M | 24M | 0 | 6M | 6M | -1M | 136M | 3M | 23M | 51M | 13M |
| Cash from Financing | -334M | -276M | -306M | -661M | 698M | -808M | -432M | -150M | -35M | -545M | -739M | -543M | 277M | -353M | -269M | -230M | 443M | -513M | -448M | 585M |
| Debt Issued (Net) | -133M | -5M | 908M | -341M | 1.25B | -407M | -64M | 171M | 278M | -284M | -604M | -390M | 428M | -197M | -106M | 48M | 643M | -162M | -308M | 702M |
| Equity Issued (Net) | -96M | -103M | -147M | -146M | -394M | -241M | -199M | -163M | -149M | -86M | 0 | 0 | 0 | -11M | -15M | -135M | -40M | -209M | 2M | 24M |
| Dividends Paid | -159M | -160M | -160M | -154M | -154M | -158M | -159M | -152M | -153M | -153M | -153M | -146M | -146M | -146M | -145M | -140M | -139M | -140M | -140M | -128M |
| Share Repurchases | -96M | -103M | -147M | -146M | -394M | -241M | -199M | -163M | -149M | -86M | 0 | 0 | 0 | 0 | -15M | -135M | -40M | -210M | 0 | 0 |
| Other Financing | 54M | -8M | -907M | -20M | -3M | -2M | -10M | -6M | -11M | -22M | 18M | -7M | -5M | 1M | -3M | -3M | -21M | -2M | -2M | -13M |
| Net Change in Cash | -590M | 331M | 271M | -269M | 560M | 19M | 120M | -50M | -333M | 296M | -10M | -198M | 327M | 70M | 98M | -29M | -45M | -211M | 21M | -613M |
| Free Cash Flow | -163M | 586M | 538M | 266M | -227M | 148M | 613M | 250M | -316M | 730M | 753M | 414M | -35M | 437M | 408M | 98M | -498M | 305M | 447M | 542M |
| FCF Margin % | -4.15% | 14.97% | 13.18% | 6.34% | -6.16% | 6.84% | 13.4% | 5.9% | -7.33% | 16.78% | 16.21% | 8.5% | -0.8% | 10.44% | 9.13% | 2.09% | -11.56% | 7.28% | 10.22% | 12.43% |
| FCF Growth % | 28.19% | 295.95% | -12.23% | 6.4% | 28.16% | -79.73% | -18.59% | -39.61% | -802.86% | 67.05% | 84.56% | 322.45% | 92.97% | 43.28% | -8.72% | -81.92% | -383.5% | -63.34% | -41.49% | 27.23% |
| FCF per Share | -0.73 | 2.60 | 2.38 | 1.17 | -0.99 | 0.63 | 2.62 | 1.06 | -1.33 | 3.08 | 3.17 | 1.74 | -0.15 | 1.85 | 1.72 | 0.41 | -2.09 | 1.28 | 1.86 | 2.26 |
| FCF Conversion (FCF/Net Income) | 0.09x | 2.96x | 1.51x | 0.86x | -0.05x | -1.24x | 1.64x | 0.69x | -0.15x | 9.98x | 2.09x | 1.09x | 0.32x | 2.47x | 1.56x | 0.38x | -16.89x | 1.59x | 1.53x | 1.40x |
| Interest Paid | 0 | 0 | 55M | 62M | 55M | 0 | 64M | 68M | 66M | 32M | 51M | 57M | 73M | 37M | 50M | 17M | 52M | 30M | 41M | 17M |
| Taxes Paid | 0 | 0 | 106M | 107M | 123M | 0 | 138M | 250M | 94M | 117M | 108M | 163M | 107M | 109M | 129M | 100M | 114M | 115M | 100M | 179M |