PPGPPG Industries
Is the business good?
The checks split: nothing decisive, though margins widening.
Mixed fundamental signals. Nine pass/fail tests of year-over-year health from the filings.
Operating margin has widened over the past few years, the business is getting more profitable per dollar of sales.
A balanced mix of margins, efficiency, and leverage. ROE 16% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is PPG?
PPG Industries keeps 9.8% of every revenue dollar as profit after everything, against 4.8% for the median Specialty Chemicals name.
Net margin · Specialty Chemicals median 4.8% · 12 months to Q1 2026
- Share count, year on year
- −2.0%
Share count, year on year · bought back, each share owns more of the company
- R&D as % of revenue
- 2.7%
R&D as % of revenue
- Gross margin
- 41%
Gross margin
| Year | Operating margin |
|---|---|
| FY2020 | 15% |
| FY2021 | 13% |
| FY2022 | 13% |
| FY2023 | 16% |
Details›
- Gross margin12 months to Q1 2026
- 41%
- Net margin12 months to Q1 2026
- 9.8%
- Free cash flow margin
- 7.6%
- R&D as % of revenue
- 2.7%
- Revenue, trailing twelve months
- $16.1B
- Free cash flow, trailing twelve months
- $1.23B
- Net income, trailing twelve months
- $1.58B
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Specialty Chemicals
The closest names by size in the same industry