The Sherwin-Williams Company SHW

Revenue Intelligence Report • 73 quarters of SEC filing data • Updated 2026-10-14 • Data through 2026-06-30

The Sherwin-Williams Company's latest quarterly revenue is $6.8B for the period ending 2026-06-30. The model projects $25.9B across the next four quarters (+5.9% versus the preceding four quarters). The forecast uses SG&A data; model selection and estimation exclude the latest quarter, whose retrospective holdout error is 2.7%. These are statistical associations, not estimates of the causal effect of spending.

Investment Thesis

The ARDL forecast is based on reported revenue and SG&A data through 2026-06-30. Training MAPE measures fit to historical data; the separately reported holdout error measures a withheld quarter. Spending coefficients describe associations and do not establish causation.

Next 4 Quarters
$25.9B
+5.9% YoY
SG&A Elasticity
0.98x
Training Fit
3.3% MAPE
Retrospective holdout (Q2 FY2026): The model predicted $6.61B vs the actual $6.79B — an error of 2.7%.
Retrospective one-quarter holdout: model fitting and selection exclude this quarter. Historical inputs use the latest available restatements, so this is not a preserved real-time forecast.
Note: The Sherwin-Williams Company does not report R&D expenses separately. The model uses the available expense measure without a separate R&D term.

Revenue Forecast

SHW Revenue Forecast

Quarterly Detail

QuarterModel ForecastActual95% RangeYoY GrowthStatus
Q2 FY2026
Period end 2026-06-30		 $6.61B $6.79B $6.08B–$7.18B +4.6% ✓ In range
Q3 FY2026
Period end 2026-09-30		 $6.71B $5.97B–$7.54B +5.5%
Q4 FY2026
Period end 2026-12-31		 $6.07B $5.26B–$7.01B +8.5%
Q1 FY2027
Period end 2027-03-31		 $6.12B $5.19B–$7.22B +8.0%
Q2 FY2027
Period end 2027-06-30		 $6.95B $5.78B–$8.36B +2.3%

Seasonal Factors

Multiplicative seasonal adjustment: These factors capture The Sherwin-Williams Company's systematic quarterly revenue patterns relative to the trend model. A factor of 1.05 means that quarter typically runs 5% above the underlying trend; 0.95 means 5% below. Factors are computed as the median of (actual / fitted) across all available quarters.
Fiscal QuarterSeasonal Factorvs TrendInterpretationObs.
FQ1 (Jan–Mar) 0.9881 -1.2% In line with trend 17
FQ2 (Apr–Jun) 1.0115 +1.2% In line with trend 17
FQ3 (Jul–Sep) 0.9957 -0.4% In line with trend 17
FQ4 (Oct–Dec) 0.994 -0.6% In line with trend 17

Spending and Revenue

SHW Spending Timing
Reading this chart: Each line shows the cumulative revenue association with a 1% change in spending over subsequent quarters. These estimates describe historical associations and do not establish causation.

Time-Varying Spending Associations

Time-varying analysis: A penalized spline model (GAM) tracks the association between log spending and log revenue over 73 quarters. Its coefficients describe conditional historical associations, not causal returns on spending.
Current SG&A elasticity: 0.2078x
The model-term chart shows relative absolute term magnitudes. Its percentages are not shares of revenue or causal contributions to growth.

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Data sourced from SEC EDGAR XBRL filings. SEC source data. Forecast model: ARDL; spending associations: ARDL (log-log) with 73 quarters. This analysis is for informational purposes only and does not constitute investment advice.

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