---
title: "Sherwin-Williams: Business Model"
description: "Sherwin-Williams revenue by business segment from its fiscal 2025 Form 10-K, with each part's share, growth and profitability explained."
canonical: https://www.getswoopr.com/stocks/companies/sherwin-williams/business-model/
source: "Swoopr Investment: https://www.getswoopr.com"
---

# Sherwin-Williams: Business Model & Revenue Engine

## Direct Answer

Sherwin-Williams reports revenue across 3 business segments in its fiscal 2025 Form 10-K. Paint Stores Group is the largest, with $13.6 billion of revenue (58% of the total), followed by Performance Coatings Group at $6.8 billion (29%).

## How Does Sherwin-Williams Make Money?

No single line supplies a majority of revenue: the largest, Paint Stores Group, is 58%, which spreads Sherwin-Williams's exposure across several demand drivers. Between fiscal 2024 and 2025, Paint Stores Group grew fastest (+3.2%) and Consumer Brands Group slowest (-62.4%), so the revenue mix tilts toward Paint Stores Group while that gap lasts.

| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| Paint Stores Group | $13.6 billion | $13.2 billion | 57.7% | 3.2% |
| Performance Coatings Group | $6.8 billion | $6.9 billion | 28.8% | -0.9% |
| Consumer Brands Group | $3.2 billion | $8.4 billion | 13.4% | -62.4% |

![Bar chart of Sherwin-Williams revenue by segment for fiscal 2025: Paint Stores Group 57.7%, Performance Coatings Group 28.8%, Consumer Brands Group 13.4%.](https://www.getswoopr.com/images/charts/sherwin-williams-business-model-segment-mix.webp)
*Sherwin-Williams revenue by segment as a share of total revenue, from the table above. The largest is highlighted. Select the chart to open it full size.*

## What the Segment Figures Do Not Show

The rows above add up to 100% of Sherwin-Williams's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.

## Where These Numbers Come From

Every figure on this page is a value Sherwin-Williams reported in the segment note and revenue disclosures of its Form 10-K filed February 19, 2026 (accession 0000089800-26-000008), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.

Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.

## Frequently Asked Questions

### What are Sherwin-Williams's business segments?

In its fiscal 2025 Form 10-K, Sherwin-Williams reports revenue for Paint Stores Group, Performance Coatings Group and Consumer Brands Group.

### Which part of Sherwin-Williams brings in the most revenue?

Paint Stores Group, with $13.6 billion of revenue in fiscal 2025, or 58% of the total.

### Where does Sherwin-Williams report its segment results?

In the segment note to the financial statements in its Form 10-K, most recently filed February 19, 2026, alongside management's discussion of each segment's results.

## References

- [SEC EDGAR: SHERWIN WILLIAMS CO Form 10-K filed February 19, 2026](https://www.sec.gov/Archives/edgar/data/89800/000008980026000008/shw-20251231.htm)
- [SEC EDGAR: SHERWIN WILLIAMS CO annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=89800&type=10-K)
- [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces)
- [SEC: Financial Statement Data Sets](https://www.sec.gov/data-research/sec-markets-data/financial-statement-data-sets)

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