PPG INDUSTRIES INC（PPG）の決算・業績分析
PPG INDUSTRIES INCの2025年有価証券報告書をAI分析。売上高$15.9B(+0.2%)。Materials。
目次
PPG INDUSTRIES INCの2025年度 業績サマリー
PPG INDUSTRIES INC（証券コード: PPG）の2025年度決算・業績分析。売上高は$15.9B（前年比+0.2%）。純利益は$1.6B（前年比+41.2%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
PPG INDUSTRIES INCの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue declined 7.1% YoY to $15.6B (XBRL), while EBITDA grew 16.9% to $2.6B (XBRL).
- Net income fell 28.7% YoY to $1.0B (XBRL), despite a 13.7% operating margin (XBRL).
- Free cash flow (FCF) was $477M (XBRL), driven by $963M operating cash flow (XBRL) and $486M CapEx (XBRL).
- Net debt stood at $4.3B (XBRL), or 1.6x EBITDA (XBRL), with a 1.74x debt-to-equity ratio (XBRL).
- Shareholder returns totaled $760M (XBRL), including $570M in dividends (XBRL) and $190M in buybacks (XBRL).
PPG INDUSTRIES INCの売上高変化の要因
- •Revenue declined 7.1% YoY to $15.6B (XBRL), with a 5-year CAGR of +1.1% (XBRL). The historical time series shows volatility, peaking at $16.8B in FY2023 before declining to $15.6B in FY2024. Segment-specific revenue data is not available in the XBRL (XBRL). Growth drivers remain unclear due to limited segment details, though the company’s global manufacturing presence and innovation initiatives are highlighted in the 10-K (10-K).
PPG INDUSTRIES INCの営業利益変化の要因
- •Operating income fell 1.2% YoY to $2.1B (XBRL), with net income declining 28.7% YoY to $1.0B (XBRL). Operating margin held at 13.7% (XBRL), while net margin dropped to 6.6% (XBRL). EBITDA increased 16.9% YoY to $2.6B (XBRL), reflecting cost management or operational efficiency. Gross profit data is not available (XBRL).
PPG INDUSTRIES INCの事業リスクと対応
Raw material cost fluctuations and supply chain disruptions could impact profitability (10-K).
Economic and geopolitical uncertainty, including wars and trade tensions, may reduce demand (10-K).
Foreign currency exchange rate volatility affects financial results (10-K).
Intense competition in the coatings and specialty products industry (10-K).
Regulatory and geopolitical risks, such as tariffs and trade agreements, pose uncertainty (10-K).
PPG INDUSTRIES INCの事業内容
PPG Industries Inc. operates in the global coatings and specialty products industry, generating revenue through the sale of decorative and protective coatings, adhesives, sealants, and related chemicals to industrial, automotive, aerospace, and construction sectors (10-K). Key segments include Global Architectural Coatings (residential/commercial building products), Performance Coatings (aerospace, automotive refinish, marine), and Industrial Coatings (protective solutions for infrastructure and equipment) (10-K). The company competes with global firms like Akzo Nobel, BASF, and Sherwin-Williams, and leverages strategic alliances (e.g., with Asian Paints) for competitive advantage (10-K). No significant customer concentration is disclosed (N/A).
PPG INDUSTRIES INCのAI業績分析レポート（2024年度）
PPG Industries Inc. FY2024 Annual Report Analysis
Highlights
Business Overview
PPG Industries Inc. operates in the global coatings and specialty products industry, generating revenue through the sale of decorative and protective coatings, adhesives, sealants, and related chemicals to industrial, automotive, aerospace, and construction sectors (10-K). Key segments include Global Architectural Coatings (residential/commercial building products), Performance Coatings (aerospace, automotive refinish, marine), and Industrial Coatings (protective solutions for infrastructure and equipment) (10-K). The company competes with global firms like Akzo Nobel, BASF, and Sherwin-Williams, and leverages strategic alliances (e.g., with Asian Paints) for competitive advantage (10-K). No significant customer concentration is disclosed (N/A).
Revenue Analysis
Revenue declined 7.1% YoY to $15.6B (XBRL), with a 5-year CAGR of +1.1% (XBRL). The historical time series shows volatility, peaking at $16.8B in FY2023 before declining to $15.6B in FY2024. Segment-specific revenue data is not available in the XBRL (XBRL). Growth drivers remain unclear due to limited segment details, though the company’s global manufacturing presence and innovation initiatives are highlighted in the 10-K (10-K).
Profitability Analysis
Operating income fell 1.2% YoY to $2.1B (XBRL), with net income declining 28.7% YoY to $1.0B (XBRL). Operating margin held at 13.7% (XBRL), while net margin dropped to 6.6% (XBRL). EBITDA increased 16.9% YoY to $2.6B (XBRL), reflecting cost management or operational efficiency. Gross profit data is not available (XBRL).
Balance Sheet Analysis
Total assets declined slightly to $20.7B in FY2024 (XBRL), with total equity rising to $7.8B (XBRL). The equity ratio was 37.8% (XBRL), and debt-to-equity stood at 1.74x (XBRL). Current ratio was 1.47x (XBRL), indicating moderate liquidity. Long-term debt was $5.7B (XBRL), with net debt at $4.3B (XBRL), or 1.6x EBITDA (XBRL).
Cash Flow Analysis
Operating cash flow was $963M (XBRL), with FCF of $477M (XBRL) after $486M in CapEx (XBRL). Investing cash flow was -$461M (XBRL), driven by capital expenditures. Financing cash flow was -$409M (XBRL), reflecting $570M in dividends (XBRL) and $190M in share repurchases (XBRL). Total shareholder returns amounted to $760M (XBRL).
Working Capital Analysis
Receivables days were 61 (XBRL), inventory days 71 (XBRL), and asset turnover 0.75x (XBRL). Payables days data is not available (XBRL), so cash conversion cycle (CCC) cannot be calculated (N/A).
Risks
Outlook
N/A. Management guidance and forward-looking trends are not explicitly detailed in the provided 10-K or XBRL data (10-K).
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