The Sherwin-Williams Company
Cash Flow Statement
| Line Item | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $843.6M | $534.7M | $476.8M | $833.1M | $754.7M | $503.9M | $480.1M | $806.2M |
| Depreciation & Amortization | — | — | — | — | — | — | — | — |
| Depreciation | $98.5M | $98.3M | $98.3M | $82.8M | $79.3M | $79.9M | $80.1M | $74.4M |
| Amortization | $87.9M | $88.5M | $88.1M | $84.1M | $83.4M | $81.0M | $81.8M | $81.2M |
| Stock-Based Compensation | $27.8M | $29.5M | $32.0M | $30.9M | $34.0M | $26.6M | $55.5M | $27.9M |
| Net Cash from Operating Activities | $1.35B | $139.1M | $1.09B | $1.31B | $1.11B | $-61.1M | $934.5M | $1.07B |
| Investing Activities | ||||||||
| Capital Expenditures | $108.4M | $138.3M | $230.4M | $196.4M | $181.5M | $189.3M | $300.0M | $235.3M |
| Business Acquisitions | $64.9M | $0 | $1.09B | $-2.1M | $39.0M | $82.4M | $78.9M | $0 |
| Net Cash from Investing Activities | $-207.7M | $-170.5M | $-171.6M | $-1.34B | $-241.1M | $-316.2M | $-285.5M | $-328.7M |
| Financing Activities | ||||||||
| Dividends Paid | $197.5M | $197.1M | $195.8M | $195.7M | $197.9M | $200.4M | $179.8M | $182.5M |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $-1.06B | $47.6M | $-942.3M | $6.5M | $-810.0M | $367.2M | $-670.8M | $-718.5M |
| Net Change in Cash | $76.6M | $9.7M | $-34.3M | $-28.3M | $70.0M | $-10.6M | $-27.8M | $38.2M |
| Free Cash Flow | $1.24B | $800.0K | $862.1M | $1.11B | $931.1M | $-250.4M | $634.5M | $839.4M |