Financials PPG Industries, Inc.

Equities

PPG

US6935061076

Commodity Chemicals

Market Closed - Nyse 01:30:02 27/04/2024 am IST 5-day change 1st Jan Change
130.2 USD +0.72% Intraday chart for PPG Industries, Inc. -0.57% -12.97%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 31,565 34,065 40,937 29,552 35,264 30,635 - -
Enterprise Value (EV) 1 35,344 37,988 46,446 35,214 39,729 34,998 34,894 34,704
P/E ratio 25.6 x 32.4 x 28.7 x 29.1 x 28 x 16.4 x 15 x 14.2 x
Yield 1.48% 1.46% 1.31% 1.92% 1.7% 2.04% 2.16% 2.29%
Capitalization / Revenue 2.08 x 2.46 x 2.44 x 1.67 x 1.93 x 1.65 x 1.61 x 1.54 x
EV / Revenue 2.33 x 2.75 x 2.76 x 1.99 x 2.18 x 1.89 x 1.83 x 1.75 x
EV / EBITDA 13.7 x 15.9 x 17.1 x 13.8 x 13 x 11 x 10.4 x 9.81 x
EV / FCF 21 x 20.8 x 39 x 79.1 x 21.3 x 19 x 18.9 x 16.9 x
FCF Yield 4.77% 4.81% 2.56% 1.26% 4.69% 5.25% 5.3% 5.92%
Price to Book 5.95 x 6 x 6.47 x 4.48 x 4.49 x 3.83 x 3.56 x 3.35 x
Nbr of stocks (in thousands) 2,36,463 2,36,204 2,37,401 2,35,027 2,35,800 2,35,361 - -
Reference price 2 133.5 144.2 172.4 125.7 149.6 130.2 130.2 130.2
Announcement Date 16/01/20 21/01/21 20/01/22 19/01/23 18/01/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 15,146 13,834 16,802 17,652 18,246 18,528 19,025 19,832
EBITDA 1 2,584 2,392 2,710 2,544 3,054 3,169 3,359 3,538
EBIT 1 2,073 1,883 2,149 1,990 2,496 2,644 2,829 3,004
Operating Margin 13.69% 13.61% 12.79% 11.27% 13.68% 14.27% 14.87% 15.15%
Earnings before Tax (EBT) 1 1,661 1,362 1,815 1,381 1,748 2,501 2,590 2,698
Net income 1 1,243 1,056 1,439 1,026 1,270 1,855 1,969 2,066
Net margin 8.21% 7.63% 8.56% 5.81% 6.96% 10.01% 10.35% 10.42%
EPS 2 5.220 4.450 6.010 4.320 5.350 7.915 8.653 9.159
Free Cash Flow 1 1,685 1,826 1,191 445 1,862 1,838 1,848 2,055
FCF margin 11.13% 13.2% 7.09% 2.52% 10.2% 9.92% 9.71% 10.36%
FCF Conversion (EBITDA) 65.21% 76.34% 43.95% 17.49% 60.97% 58% 55.02% 58.09%
FCF Conversion (Net income) 135.56% 172.92% 82.77% 43.37% 146.61% 99.04% 93.84% 99.48%
Dividend per Share 2 1.980 2.100 2.260 2.420 2.540 2.653 2.805 2.978
Announcement Date 16/01/20 21/01/21 20/01/22 19/01/23 18/01/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 4,190 4,308 4,691 4,468 4,185 4,380 4,872 4,644 4,350 4,311 4,931 4,756 4,483 4,469 5,073
EBITDA 1 498 552 730 670 549 742 875 792 645 747 907.9 841.5 684.3 762.7 964.2
EBIT 1 349 407 589 535 416 609 742 650 495 606 791 722.5 570.7 644.8 833.6
Operating Margin 8.33% 9.45% 12.56% 11.97% 9.94% 13.9% 15.23% 14% 11.38% 14.06% 16.04% 15.19% 12.73% 14.43% 16.43%
Earnings before Tax (EBT) 282 78 566 418 319 353 646 - - - - - - - -
Net income 1 286 18 443 329 238 264 490 426 90 400 542 509 379 - -
Net margin 6.83% 0.42% 9.44% 7.36% 5.69% 6.03% 10.06% 9.17% 2.07% 9.28% 10.99% 10.7% 8.45% - -
EPS 2 1.200 0.0800 1.860 1.390 1.010 1.110 2.060 1.790 0.3800 1.690 2.286 2.167 1.631 - -
Dividend per Share 2 0.5900 0.5900 0.5900 0.6200 0.6200 0.6200 0.6200 0.6500 0.6500 0.6500 0.6500 0.6928 0.6928 0.6875 0.6875
Announcement Date 20/01/22 21/04/22 21/07/22 19/10/22 19/01/23 20/04/23 20/07/23 18/10/23 18/01/24 18/04/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 3,779 3,923 5,509 5,662 4,465 4,363 4,260 4,069
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.462 x 1.64 x 2.033 x 2.226 x 1.462 x 1.377 x 1.268 x 1.15 x
Free Cash Flow 1 1,685 1,826 1,191 445 1,862 1,838 1,848 2,055
ROE (net income / shareholders' equity) 29.9% 24.7% 27% 22.3% 25.3% 25.1% 26% 26.5%
ROA (Net income/ Total Assets) 8.78% 7.26% 7.04% 4.87% 8.6% 8.63% 9.29% 9.89%
Assets 1 14,162 14,542 20,455 21,047 14,774 21,512 21,190 20,890
Book Value Per Share 2 22.40 24.00 26.60 28.00 33.30 34.00 36.60 38.80
Cash Flow per Share 2 8.820 8.950 6.530 4.060 10.20 11.30 10.90 10.70
Capex 1 415 304 371 518 549 617 570 585
Capex / Sales 2.74% 2.2% 2.21% 2.93% 3.01% 3.33% 3% 2.95%
Announcement Date 16/01/20 21/01/21 20/01/22 19/01/23 18/01/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
A-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
27
Last Close Price
130.2 USD
Average target price
157.2 USD
Spread / Average Target
+20.74%
Consensus
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