PPG Industries, Inc. (PPG) quarterly income statement — complete revenue, gross profit & net income 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 |
|---|
| Sales/Revenue | 3.93B | 3.91B | 4.08B | 4.2B | 3.68B | 2.17B | 4.58B | 4.24B | 4.31B | 4.35B | 4.64B | 4.87B | 4.38B | 4.18B | 4.47B | 4.69B | 4.31B | 4.19B | 4.37B | 4.36B |
| Revenue Growth % | 6.68% | 80.79% | -10.78% | -0.94% | -14.54% | -50.23% | -1.49% | -13.07% | -1.58% | 3.94% | 3.94% | 3.86% | 1.67% | -0.12% | 2.2% | 7.62% | 11% | 11.53% | 18.64% | 44.58% |
| Cost of Goods Sold | 2.27B | 2.45B | 2.43B | 2.43B | 2.14B | 1.41B | 2.66B | 2.45B | 2.44B | 2.53B | 2.75B | 2.87B | 2.6B | 2.62B | 2.82B | 2.95B | 2.7B | 2.69B | 2.73B | 2.63B |
| COGS % of Revenue | 57.89% | 62.6% | 59.43% | 57.97% | 58.14% | 65.13% | 58.21% | 57.85% | 56.72% | 58.18% | 59.26% | 58.83% | 59.27% | 62.68% | 63.14% | 62.97% | 62.63% | 64.25% | 62.51% | 60.31% |
| Gross Profit | 1.66B | 1.46B | 1.66B | 1.76B | 1.54B | 755M | 1.91B | 1.78B | 1.87B | 1.82B | 1.89B | 2.01B | 1.78B | 1.56B | 1.65B | 1.74B | 1.61B | 1.5B | 1.64B | 1.73B |
| Gross Margin % | 42.11% | 37.4% | 40.57% | 42.03% | 41.86% | 34.87% | 41.79% | 42.15% | 43.28% | 41.82% | 40.74% | 41.17% | 40.73% | 37.32% | 36.86% | 37.03% | 37.37% | 35.75% | 37.49% | 39.69% |
| Gross Profit Growth % | 7.33% | 93.91% | -13.39% | -1.23% | -17.36% | -58.49% | 1.06% | -11.02% | 4.6% | 16.45% | 14.88% | 15.49% | 10.81% | 4.27% | 0.49% | 0.4% | -2.37% | -7.36% | -1.21% | 31.86% |
| Operating Expenses | 1.13B | 1.01B | 1.22B | 1.11B | 1.06B | 374M | 1.3B | 1.09B | 1.31B | 1.38B | 1.3B | 1.31B | 1.42B | 1.2B | 1.18B | 1.24B | 1.23B | 1.3B | 1.21B | 1.2B |
| OpEx % of Revenue | 28.75% | 25.91% | 29.84% | 26.53% | 28.8% | 17.27% | 28.33% | 25.74% | 30.48% | 31.61% | 27.93% | 26.93% | 32.4% | 28.58% | 26.32% | 26.39% | 28.64% | 31% | 27.68% | 27.51% |
| Selling, General & Admin | 885M | 905M | 824M | 872M | 838M | 188M | 1.06B | 858M | 1.06B | 1.11B | 1.05B | 1.07B | 1.18B | 955M | 931M | 982M | 974M | 1.03B | 950M | 955M |
| SG&A % of Revenue | 22.52% | 23.12% | 20.19% | 20.79% | 22.75% | 8.68% | 23.21% | 20.26% | 24.68% | 25.61% | 22.55% | 21.94% | 26.99% | 22.82% | 20.84% | 20.93% | 22.61% | 24.68% | 21.73% | 21.91% |
| Research & Development | 113M | 109M | 106M | 106M | 102M | 98M | 105M | 108M | 109M | 111M | 108M | 110M | 104M | 108M | 110M | 115M | 115M | 116M | 114M | 107M |
| R&D % of Revenue | 2.88% | 2.78% | 2.6% | 2.53% | 2.77% | 4.53% | 2.3% | 2.55% | 2.53% | 2.55% | 2.33% | 2.26% | 2.37% | 2.58% | 2.46% | 2.45% | 2.67% | 2.77% | 2.61% | 2.45% |
| Other Operating Expenses | 1000K | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Operating Income | 525M | 450M | 438M | 650M | 481M | 381M | 616M | 695M | 552M | 444M | 595M | 694M | 365M | 366M | 471M | 499M | 376M | 199M | 429M | 531M |
| Operating Margin % | 13.36% | 11.5% | 10.73% | 15.49% | 13.06% | 17.6% | 13.46% | 16.41% | 12.8% | 10.21% | 12.81% | 14.24% | 8.33% | 8.75% | 10.54% | 10.64% | 8.73% | 4.75% | 9.81% | 12.18% |
| Operating Income Growth % | 9.15% | 18.11% | -28.9% | -6.47% | -12.86% | -14.19% | 3.53% | 0.14% | 51.23% | 21.31% | 26.33% | 39.08% | -2.93% | 83.92% | 9.79% | -6.03% | -28.65% | -60.98% | -28.38% | 57.57% |
| EBITDA | 657M | 584M | 576M | 785M | 602M | 469M | 766M | 819M | 693M | 594M | 737M | 827M | 498M | 499M | 606M | 640M | 521M | 348M | 575M | 668M |
| EBITDA Margin % | 16.72% | 14.92% | 14.11% | 18.71% | 16.34% | 21.66% | 16.74% | 19.34% | 16.08% | 13.66% | 15.87% | 16.97% | 11.37% | 11.92% | 13.56% | 13.64% | 12.09% | 8.31% | 13.15% | 15.32% |
| EBITDA Growth % | 9.14% | 24.52% | -24.8% | -4.15% | -13.13% | -21.04% | 3.93% | -0.97% | 39.16% | 19.04% | 21.62% | 29.22% | -4.41% | 43.39% | 5.39% | -4.19% | -20.58% | -45.2% | -21.34% | 45.22% |
| D&A (Non-Cash Add-back) | 132M | 134M | 138M | 135M | 121M | 88M | 150M | 124M | 141M | 150M | 142M | 133M | 133M | 133M | 135M | 141M | 145M | 149M | 146M | 137M |
| EBIT | 525M | 447M | 621M | 660M | 558M | 67M | 678M | 713M | 593M | 249M | 621M | 713M | 412M | 372M | 464M | 604M | 108M | 312M | 471M | 624M |
| Net Interest Income | -24M | -34M | -23M | -18M | -13M | -15M | -19M | -17M | -13M | -13M | -25M | -35M | -34M | -33M | -32M | -27M | -21M | -23M | -23M | -25M |
| Interest Income | 37M | 24M | 42M | 44M | 43M | 42M | 48M | 45M | 42M | 44M | 39M | 32M | 25M | 20M | 14M | 11M | 9M | 7M | 7M | 6M |
| Interest Expense | 61M | 58M | 65M | 62M | 56M | 57M | 67M | 62M | 55M | 57M | 64M | 67M | 59M | 53M | 46M | 38M | 30M | 30M | 30M | 31M |
| Other Income/Expense | -8M | -61M | 118M | -52M | 21M | -371M | -5M | -44M | -14M | -252M | -38M | -48M | -12M | -47M | -53M | 67M | -298M | 83M | 12M | 62M |
| Pretax Income | 517M | 389M | 556M | 598M | 502M | 10M | 611M | 651M | 538M | 192M | 557M | 646M | 353M | 319M | 418M | 566M | 78M | 282M | 441M | 593M |
| Pretax Margin % | 13.16% | 9.94% | 13.62% | 14.26% | 13.63% | 0.46% | 13.36% | 15.37% | 12.48% | 4.41% | 11.99% | 13.26% | 8.06% | 7.62% | 9.36% | 12.07% | 1.81% | 6.73% | 10.09% | 13.6% |
| Income Tax | 132M | 78M | 118M | 140M | 122M | 53M | 137M | 149M | 129M | 89M | 121M | 149M | 80M | 73M | 79M | 118M | 55M | 4M | 96M | 160M |
| Effective Tax Rate % | 25.53% | 20.05% | 21.22% | 23.41% | 24.3% | 530% | 22.42% | 22.89% | 23.98% | 46.35% | 21.72% | 23.07% | 22.66% | 22.88% | 18.9% | 20.85% | 70.51% | 1.42% | 21.77% | 26.98% |
| Net Income | 382M | 300M | 453M | 450M | 373M | -280M | 468M | 528M | 400M | 90M | 426M | 490M | 264M | 238M | 329M | 441M | 18M | 286M | 344M | 431M |
| Net Margin % | 9.72% | 7.66% | 11.1% | 10.73% | 10.12% | -12.93% | 10.23% | 12.47% | 9.28% | 2.07% | 9.17% | 10.06% | 6.03% | 5.69% | 7.36% | 9.4% | 0.42% | 6.83% | 7.87% | 9.89% |
| Net Income Growth % | 2.41% | 207.14% | -3.21% | -14.77% | -6.75% | -411.11% | 9.86% | 7.76% | 51.52% | -62.18% | 29.48% | 11.11% | 1366.67% | -16.78% | -4.36% | 2.32% | -95.24% | 5.15% | -22.17% | 322.55% |
| Net Income (Continuing) | 385M | 311M | 438M | 458M | 380M | -43M | 474M | 502M | 409M | 103M | 436M | 497M | 273M | 246M | 339M | 448M | 23M | 278M | 345M | 433M |
| Discontinued Operations | 0 | -1000K | 1000K | 0 | -1000K | 0 | 0 | 1000K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1000K | 0 | 1000K | 0 | 0 |
| Minority Interest | 150M | 0 | 156M | 167M | 165M | 177M | 184M | 178M | 185M | 191M | 184M | 178M | 111M | 117M | 110M | 109M | 115M | 125M | 157M | 169M |
| EPS (Diluted) | 1.70 | 1.33 | 2.00 | 1.98 | 1.63 | -1.20 | 2.00 | 2.24 | 1.69 | 0.38 | 1.79 | 2.06 | 1.11 | 1.01 | 1.39 | 1.85 | 0.08 | 1.20 | 1.43 | 1.80 |
| EPS Growth % | 4.29% | 210.83% | 0% | -11.61% | -3.55% | -415.79% | 11.73% | 8.74% | 52.25% | -62.38% | 28.78% | 11.35% | 1368.25% | -15.83% | -2.8% | 2.78% | -95.22% | 5.26% | -23.12% | 318.6% |
| EPS (Basic) | 1.71 | 1.34 | 2.01 | 1.98 | 1.64 | -1.20 | 2.01 | 2.25 | 1.70 | 0.38 | 1.80 | 2.08 | 1.12 | 1.01 | 1.40 | 1.86 | 0.08 | 1.20 | 1.45 | 1.81 |
| Diluted Shares Outstanding | 224.4M | 225.2M | 226.5M | 227.7M | 228.9M | 234.3M | 234.3M | 235.7M | 236.9M | 237.3M | 237.5M | 237.3M | 236.9M | 236.6M | 236.6M | 237.6M | 238.2M | 239.2M | 239.8M | 239.8M |
| Basic Shares Outstanding | 223.7M | 224.4M | 225.37M | 226.8M | 228M | 233.3M | 233.3M | 234.5M | 235.6M | 236.2M | 236.2M | 236M | 235.8M | 235.5M | 235.5M | 236.4M | 236.6M | 237.4M | 237.9M | 237.8M |
| Dividend Payout Ratio | 41.62% | 53.33% | 35.32% | 34.22% | 41.29% | - | 33.97% | 28.79% | 38.25% | 170% | 35.92% | 29.8% | 55.3% | 61.34% | 44.07% | 31.75% | 772.22% | 48.95% | 40.7% | 29.7% |