PPG's revenue for the full year last year remained flat at $15.9 billion, while its net profit surged 17% to $1.6 billion.

For the full year 2025, the Group achieved an EBITDA of $2.631 billion, representing a 9.26% increase year-on-year. Operating profit amounted to $1.587 billion, up 15.25% year-on-year. Net profit totaled $1.571 billion, an increase of 17% year-on-year. The net profit margin rose from 8.5% in the prior year to 9.9%. Adjusted net profit was $1.722 billion, down 7.0% year-on-year. Amid a challenging macroeconomic environment, the Company achieved earnings per share (EPS) of $6.92 for the full year 2025, with adjusted EPS at $7.58—a 4% decline year-on-year. The EBITDA margin across all business segments stood at 19%. These results reflect strong sales performance driven by our technologically advanced products and powerful brands, enabling record achievements across multiple business areas—including aerospace coatings, protective & marine coatings, and packaging coatings. In 2025, we demonstrated remarkable adaptability amid a challenging macroeconomic environment: sales volume and selling prices both increased across all four quarters, delivering 2% organic sales growth. We generated $1.9 billion in operating cash flow, with a free cash flow yield of 5%. During the year, we repurchased approximately $790 million worth of shares—about 3% of our outstanding shares. Combined with dividends, we returned $1.4 billion to shareholders in 2025. PPG Industrial’s Q4 2025 Factors Affecting Operating Performance PPG’s net sales for Q4 2025 were $3.914 billion, up 5.0% year-on-year. Organic sales rose 3% year-on-year—the highest quarterly growth this year—driven by broad-based growth across three business segments. Overall selling prices increased 1% year-on-year; however, this gain was partially offset by price reductions under certain index-based customer contracts. Total sales volume grew 2% year-on-year versus Q4 2024. Net sales also included a 4% benefit from foreign exchange translation and a 2% reduction due to divestitures. Sales growth was primarily driven by aerospace coatings, protective & marine coatings, and architectural coatings in Mexico. Additionally, we gained market share in the industrial coatings segment—offsetting declines in automotive refinish coatings and architectural coatings in Europe and the Middle East. Net sales for automotive OEM coatings rose 6%, marking the second consecutive quarter of outperformance relative to industry averages. In aerospace coatings, both Q4 net sales and segment income reached new highs. Adjusted diluted EPS for Q4 2025 was $1.51, compared to reported diluted EPS of $1.34. Across all business segments, PPG achieved an 18% operating margin in Q4 2025—down 40 basis points year-on-year—primarily due to improved margins in industrial coatings and global architectural coatings, partially offset by lower margins in high-performance coatings. Net profit was $302 million, a dramatic 15-fold increase year-on-year. Adjusted net profit was $341 million, down 9.0% year-on-year.

The world’s largest automotive refinish paint brand has changed hands: PPG has overtaken Axalta for the first time.

On August 10, 2026, TuJie—the leading professional financial media outlet for China’s coatings industry—released the '2026 Global Top 10 Automotive Refinish Paint Brands Ranking' (Note: Click here to view the full ranking). On this globally unique and authoritative ranking for the automotive refinish paint industry, a historic shift quietly occurred: U.S.-based PPG claimed the top spot for the first time, with $2.064 billion in sales revenue and an 18.76% global market share; long-time leader Axalta slipped to second place, reporting $2.051 billion in sales revenue and an 18.65% global market share. Though the gap between them is razor-thin—just $13 million and 0.11 percentage points—this 0.11-percentage-point lead marks the official change of hands for the title of world’s largest automotive refinish paint brand. For several years, Axalta had been widely regarded as the undisputed leader in the automotive refinish paint sector. With over 150 years of history in the coatings industry, Axalta serves more than 90,000 body shops across over 140 countries worldwide. Yet in fiscal year 2025, this century-old company encountered a growth bottleneck. Its financial report showed full-year net sales of $5.12 billion—a 3% decline year-on-year—with automotive refinish paint sales totaling $2.051 billion, down sharply by 5.2% year-on-year. Although the company achieved a record-high adjusted EBITDA margin of 22% through product portfolio optimization and cost control, persistent volume declines eroded its scale advantage in this core business segment. Meanwhile, Axalta is navigating a major global industry consolidation—its parity merger with AkzoNobel is underway, which may have diverted management’s focus and resources away from competitive efforts in the refinish paint market. In stark contrast to Axalta’s volume contraction, PPG demonstrated greater resilience in its refinish paint business. Although PPG Industries’ full-year 2025 net sales totaled $15.875 billion—essentially flat year-on-year—and its automotive refinish paint organic sales declined by a mid-single-digit percentage due to lower volumes, price increases fully offset this decline. It was precisely this 'price-for-volume' strategy that enabled PPG to stabilize its revenue base amid fluctuating market demand. According to PPG’s publicly disclosed financial community materials, automotive refinish paint accounted for approximately 13% of the Group’s total revenue in 2025—equating to $2.064 billion. Additionally, in early 2026, PPG acquired EMM International, a Dutch manufacturer of collision repair spray tools—further strengthening its integrated competitiveness across the automotive refinish paint value chain.

PPG Industries Expected to Announce Quarterly Earnings on Tuesday

Oct 20, 2026

PPG Industries will report Q3 2026 earnings on October 27th, with analysts forecasting $2.13 EPS and $4.29 billion revenue. Following a previous revenue beat, the company also declared a $0.74 quarterly dividend.

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