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Sherwin-Williams Co SHW

Rating as of

Morningstar’s Analysis

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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Sherwin-Williams Finds No Shortage of Q1 Demand Amid Hot U.S. Housing Market

Charles Gross Equity Analyst

Analyst Note

| Charles Gross |

Sherwin-Williams got off to a strong start in 2021, with net sales up more than 12% to $4.66 billion and adjusted EBITDA up 36% from the prior-year quarter. Americans continued to spend more time at home during the first quarter, and housing markets are on fire as people reconsider their living arrangements. Both of these trends were strong tailwinds for Sherwin, given its U.S.-oriented revenue exposure. Despite the blazing start to 2021, the results were consistent with our outlook for the year. With our outlook largely intact, we've left our $135 per share fair value estimate and narrow moat rating unchanged.

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Company Profile

Business Description

Sherwin-Williams is the largest provider of architectural paint in the United States. The company has approximately 4,800 stores and sells premium paint at higher price points than most competitors. Sherwin-Williams also sells paint-related products in big-box stores and provides coatings for original equipment manufacturers.

Contact
101 West Prospect Avenue
Cleveland, OH, 44115-1075
T +1 216 566-2000
Sector Basic Materials
Industry Specialty Chemicals
Most Recent Earnings Mar 31, 2021
Fiscal Year End Dec 31, 2020
Stock Type Cyclical
Employees 61,031

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