SHERWIN WILLIAMS CO (SHW)

The Sherwin-Williams Company, founded in 1866 and incorporated in Ohio in 1884, develops, manufactures, distributes and sells paint, coatings and related products to professional, industrial, commercial and retail customers primarily in North and South America, with additional operations in the Caribbean, Europe, Asia and Australia. The Company operates through three reportable segments: Paint Stores Group, Consumer Brands Group and Performance Coatings Group, with other activities reported in an Administrative function. The Paint Stores Group, comprising 4,773 company-operated specialty paint stores in the U.S., Canada and the Caribbean at the end of 2024, serves architectural and industrial paint contractors and do-it-yourself homeowners, selling Sherwin-Williams and other controlled-brand architectural paint and coatings, protective and marine products, OEM finishes and related items, most of which are manufactured by the Consumer Brands Group.

The Consumer Brands Group manufactures and distributes a broad portfolio of branded and private-label architectural paint, stains, varnishes, industrial products, wood finishes, wood preservatives, applicators, corrosion inhibitors, aerosols, caulks and adhesives to retailers such as home centers and hardware stores, dedicated dealers and distributors across North America, Latin America and Europe, and also operated 334 specialty paint stores in Latin America; it further supports the Company’s global operations through research and development, manufacturing, distribution and logistics, with about 63% of its 2024 sales representing intersegment transfers. The Performance Coatings Group develops and sells industrial coatings for wood finishing, general industrial (metal and plastic) applications, automotive refinish, protective and marine coatings, coil coatings, packaging coatings and performance-based resins and colorants worldwide, distributing products through the Paint Stores Group, 324 company-operated branches, a direct sales staff and outside sales representatives to retailers, dealers, jobbers, licensees and other distributors, and also licenses certain technology and trade names globally. The Administrative function includes headquarters and real estate management operations, including leasing of non-retail properties, along with corporate cash, investments and deferred pension assets.

The Company markets numerous well-known trademarks and trade names, including Sherwin-Williams, Valspar, Krylon, Minwax, Dutch Boy, Cabot, Purdy, Dupli-Color and Ronseal, among others, and competes with a wide range of local, regional, national and international manufacturers, distributors and retailers based on product quality, innovation, breadth of line, technical expertise, service and price. Raw materials used in production include resins, latex, pigments, additives, solvents and metal or plastic containers, largely derived from petrochemical feedstocks such as propylene, sourced from multiple global suppliers. The Company employed 63,890 people worldwide as of December 31, 2024, with about 75% based in the United States, and emphasizes talent development, workplace culture, employee engagement, health and safety, and competitive total rewards programs as part of its human capital strategy.