Sherwin-Williams

Sherwin-Williams was founded by Henry Sherwin and Edward Williams in 1866 in Cleveland, Ohio – and the company remains headquartered to this day. It only expanded outside Cleveland in 1888 but then expanded quickly, entering Canada in 1892 by merging with Walter H. Cottingham Co. and into London in 1903. 1909 saw the retirement of Henry Sherwin and Walter H. Cottingham took over as CEO. 1925 saw its initial public listing. The company was an innovator in man ways, introducing the first synthetic aviation paints in the late 1920s, creating fast-drying and washable water-based paints for households as well as the Roller-Koater applicator in 1941. In 2011, it introduced a brand of paint that was specially designed to promote better indoor air quality – Harmony Interior Acrylic Latex; in 2015 it introduced paint with bateria-killing capabilities; and in 2018 it introduced an app enabling people to ‘try on’ paint colours on their own walls. Between 2016 and 2024, it was led by John G. Morikis, who worked his way up to the top job over a near 40-year career at the company. During Morikis’ tenure, he has expanded the company’s reach abroad. Sherwin Williams went from $11bn in sales in 2015 to $23bn in 2023 and the company has expanded its presence abroad through strategic acquisitions. He was succeeded by Heidi G. Petz in 2024. She had been with Sherwin-Williams since 2017, joining after it bought Valspar. The company is a so-called Dividend Aristocrat as it has raised dividends each year for over 25 years – in this company’s case, 46 to be exact. It closed 2024 with US$23.1bn in net sales (a record for the company), $4.49bn of EBITDA (up 6%). It made $10.55 EPS, which represents a profit of $11.2bn – a 4% increase. It has guided to $11.65-12.05 EPS for CY25.