Is the business good?
How good a business is PPG?
PPG Industries keeps 9.8% of every revenue dollar as profit after everything, against 5.2% for the median Specialty Chemicals name.
9.8%
Net margin · Specialty Chemicals median 5.2% · 12 months to Q1 2026
- Cash conversion
- 0.77×
Cash conversion · 0.72× a year ago · some of the reported profit has not turned into cash yet
- 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
| 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 from the cash flow statement.