The Sherwin-Williams Company
Income Statement
| Line Item | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $14.98B | $11.86B | $11.34B | $11.13B | $10.19B | $9.53B | $8.77B | $7.78B |
| Cost of Revenue | $8.26B | $5.93B | $5.78B | $5.97B | $5.57B | $5.33B | $5.02B | $4.30B |
| Gross Profit | $6.72B | $5.92B | $5.56B | $5.16B | $4.62B | $4.21B | $3.74B | $3.48B |
| Gross Margin | 44.8% | 49.9% | 49.0% | 46.4% | 45.3% | 44.1% | 42.7% | 44.8% |
| Operating Expenses | ||||||||
| Research & Development | $58.5M | $58.0M | $57.7M | $50.0M | $47.0M | $44.6M | $41.7M | $39.9M |
| SG&A Expense | $4.80B | $4.14B | $3.89B | $3.82B | $3.47B | $3.26B | $2.96B | $2.73B |
| Operating Income | $2.24B | $2.16B | $1.96B | $1.70B | $1.44B | $1.31B | $985.0M | $948.0M |
| Operating Margin | 14.9% | 18.3% | 17.3% | 15.2% | 14.2% | 13.7% | 11.2% | 12.2% |
| Interest Expense | $263.5M | $154.1M | $61.8M | $64.2M | $62.7M | $42.8M | $42.5M | $70.6M |
| Pretax Income | $1.47B | $1.60B | $1.55B | $1.26B | $1.09B | $907.3M | $741.5M | $677.8M |
| Income Tax Expense | $-300.2M | $462.5M | $495.1M | $392.3M | $333.4M | $276.3M | $299.7M | $215.3M |
| Net Income | $1.73B | $1.13B | $1.05B | $865.9M | $752.6M | $631.0M | $441.9M | $462.5M |
| Net Margin | 11.5% | 9.6% | 9.3% | 7.8% | 7.4% | 6.6% | 5.0% | 5.9% |
| EPS (Basic) | $6.20 | $4.11 | $3.81 | $3.00 | $2.47 | $2.05 | $1.41 | $1.43 |
| EPS (Diluted) | $6.07 | $4.00 | $3.72 | $2.92 | $2.42 | $2.01 | $1.38 | $1.40 |
| Shares Outstanding (Basic) | 278.7M | 275.5M | 276.6M | 288.6M | 302.7M | 305.1M | 310.4M | 321.1M |
| Shares Outstanding (Diluted) | 284.8M | 283.5M | 283.6M | 296.2M | 309.1M | 311.8M | 317.0M | 326.4M |
| Dividends Per Share | $1.13 | $1.12 | $0.89 | $0.73 | $0.67 | $0.52 | $0.49 | $0.48 |