The Sherwin-Williams Company (SHW): Business Model Canvas [Jan-2025 Mis à jour]

Plongez dans le monde dynamique de Sherwin-Williams, une centrale de peinture et de revêtements qui transforme les surfaces et les industries avec son approche innovante de la couleur et de la protection. Des entrepreneurs professionnels aux amateurs de bricolage, ce leader mondial a méticuleusement conçu un modèle commercial qui va bien au-delà de la simple production de peinture, tissant ensemble des partenariats stratégiques, une technologie de pointe et une compréhension complète des besoins des clients à travers divers segments de marché. Découvrez comment Sherwin-Williams a peint son chemin vers le succès à travers un modèle commercial sophistiqué qui mélange la créativité, l'expertise technique et l'innovation stratégique.

The Sherwin-Williams Company (SHW) - Modèle commercial: partenariats clés

Fournisseurs stratégiques de matières premières

Sherwin-Williams s'associe aux principaux fournisseurs de matières premières dans l'industrie chimique:

Catégorie de matériel	Valeur d'achat annuelle	Fournisseurs clés
Résines	412 millions de dollars	Dow chimique, basf se
Pigments	287 millions de dollars	Tronox Limited, Venator Materials
Solvants	196 millions de dollars	ExxonMobil Chemical, Shell Chemical

Partenaires de vente au détail

Sherwin-Williams maintient des partenariats de vente au détail stratégiques:

• Home Depot: 4 000+ services de peinture en magasin
• Magasins de peinture indépendants: réseau de plus de 1 200 détaillants locaux
• Lowe's: Couverture de partenariat limité

Équipements de fabrication et fournisseurs de technologies

Les partenariats technologiques et équipements comprennent:

Type de partenariat	Investissement annuel	Partenaires clés
Équipement de fabrication	78 millions de dollars	Nordson Corporation, Ika Works
Technologie d'automatisation	45 millions de dollars	Siemens, groupe ABB

Collaborations de recherche et développement

Les partenariats R&D se concentrent sur les innovations en génie chimique:

• Institut de technologie du Massachusetts (MIT): subvention annuelle de recherche de 12 millions de dollars
• Université de Californie, Berkeley: Technologies de revêtement durables
• Recherche d'entreprise BASF: développement de matériel avancé

Réseau global de logistique et de distribution

Partenariats de distribution couvrant les marchés internationaux:

Région	Partenaires logistiques	Volume de distribution annuel
Amérique du Nord	FedEx, UPS	126 millions de gallons
Europe	DB Schenker, DHL	42 millions de gallons
Asie-Pacifique	Maersk, CMA CGM	31 millions de gallons

The Sherwin-Williams Company (SHW) - Modèle d'entreprise: activités clés

Fabrication de peinture et de revêtements

Capacité de production annuelle: 1,5 milliard de gallons de peinture et de revêtements en 2023

Installations de fabrication	Nombre	Emplacements mondiaux
Total des usines de fabrication	39	États-Unis, Canada, Mexique, Brésil, Royaume-Uni, Chine
Investissement en production	412 millions de dollars	Dépenses en capital en 2023

Recherche et innovation des produits

Investissement en R&D: 194 millions de dollars en 2023

• 3 500 brevets actifs
• 125 Scientifiques et ingénieurs des chercheurs
• 5 centres de recherche dédiés

Marketing mondial et développement de marque

Métrique marketing	Valeur
Dépenses de marketing annuelles	336 millions de dollars
Présence de marque mondiale	Plus de 60 pays

Gestion des ventes et de la distribution

Réseau de distribution: 4 760 magasins appartenant à l'entreprise

• Amérique du Nord: 4 200 magasins
• International: 560 magasins
• Volume des ventes annuelles: 22,4 milliards de dollars en 2023

Services de consultation en technologie des couleurs et en conception

Métrique de service	Détails
Équipe de consultation en couleur	250 experts en couleur dédiée
Outils de couleur numérique	7 plates-formes de sélection de couleurs propriétaires

The Sherwin-Williams Company (SHW) - Modèle d'entreprise: Ressources clés

Installations de fabrication avancées dans le monde

Sherwin-Williams exploite 141 installations de fabrication dans le monde en 2023, avec une empreinte de fabrication totale couvrant l'Amérique du Nord, l'Europe et l'Asie. Le réseau de fabrication mondial de l'entreprise couvre environ 4,4 millions de pieds carrés d'espace de production.

Région	Nombre d'installations de fabrication	Espace de production total
Amérique du Nord	98	3,2 millions de pieds carrés
Europe	27	0,8 million de pieds carrés
Asie	16	0,4 million de pieds carrés

Capacités de recherche sur la technologie des couleurs et de la peinture

L'entreprise investit 330 millions de dollars par an en recherche et développement. Leurs centres de recherche comprennent:

• Centre mondial de l'innovation à Cleveland, Ohio
• Advanced Technology Center à Pittsburgh, Pennsylvanie
• Plusieurs installations de recherche régionale sur différents continents

Réputation de la marque dans les revêtements

Sherwin-Williams tient Leadership du marché avec 16,3% de part de marché dans le segment des revêtements architecturaux. La valeur de la marque de l'entreprise est estimée à 12,4 milliards de dollars en 2023.

Main-d'œuvre qualifiée

Métrique de la main-d'œuvre	2023 données
Total des employés	67,200
Employés titulaires de diplômes avancés	4,800
Personnel spécialisé en R&D	1,200

Plates-formes de sélection de couleurs numériques

Les plateformes numériques de l'entreprise comprennent:

• Colornap Visualizer (utilisé par 22 millions d'utilisateurs uniques par an)
• Intégration de logiciels de conception professionnelle
• Application mobile avec 5,6 millions d'utilisateurs actifs

The Sherwin-Williams Company (SHW) - Modèle d'entreprise: propositions de valeur

Solutions de peinture et de revêtement durables de haute qualité

Sherwin-Williams propose des produits de peinture avec une ratière de durabilité moyenne de 15 à 20 ans. Les gammes de produits comprennent:

• Durée Paint intérieur de la maison: 54,99 $ par gallon
• Superpaint Latex acrylique extérieur: 68,49 $ par gallon
• Peinture de maison extérieure émeraude: 89,99 $ par gallon

Gamme de produits	Fourchette	Segment de marché
Solutions de revêtement professionnelles	45 $ - 120 $ le gallon	Commercial / industriel
Lignes de peinture résidentielle	35 $ ​​- 90 $ par gallon	Propriétaires / bricolage

Expertise en technologie des couleurs innovantes et conception

Couvrages de technologie de visualisation ColorSnap 95% des plateformes de sélection de couleurs numériques. Investissement annuel R&D: 253 millions de dollars en 2023.

Gamme de produits complète

Les catégories de produits comprennent:

• Revêtements architecturaux
• Revêtements industriels
• Revêtements de performance
• Marques de consommation

Offres de produits durables

Les gammes de produits écologiques représentent 28% du portefeuille total de produits. Produits à faible VOC: 412 millions de dollars de revenus annuels.

Support client exceptionnel

Équipe de support technique: 3 200 représentants professionnels. Évaluation moyenne de satisfaction du client: 4.6 / 5.

Canal de support	Interactions annuelles	Temps de réponse
Assistance en ligne	1,2 million	Moins de 2 heures
Support téléphonique	850,000	Moins de 15 minutes

The Sherwin-Williams Company (SHW) - Modèle d'entreprise: relations clients

Services de support client professionnel

Sherwin-Williams fournit des canaux de support client dédiés avec 4 248 magasins appartenant à l'entreprise en Amérique du Nord en 2023. Leur équipe de support client gère environ 15,2 millions d'interactions professionnelles et de vente au détail par an.

Canal de support	Volume annuel	Temps de réponse moyen
Support téléphonique	6,7 millions d'interactions	12 minutes
Assistance en ligne	5,3 millions d'interactions	24 heures
Support en magasin	3,2 millions d'interactions	Engagement direct

Consultation en couleur et assistance à la conception

Sherwin-Williams offre des services de consultation en couleur gratuits par le biais de 1 600 experts en couleur formés dans leur réseau de vente au détail. En 2023, ils ont mené environ 287 000 consultations de conception professionnelle.

Outils de sélection de couleurs en ligne et mobiles

Les plates-formes de sélection des couleurs numériques comprennent:

• Colornap Visualizer (application mobile avec 12,6 millions de téléchargements)
• Outil de visualisation de la salle en ligne
• Simulateur de peinture virtuelle

Programmes de fidélité pour les entrepreneurs professionnels

Le programme d'entrepreneur professionnel comprend:

Niveau de programme	Participants annuels	Gamme de rabais
Niveau de bronze	42 000 entrepreneurs	Remise de 5 à 7%
Niveau d'argent	18 500 entrepreneurs	Remise de 8 à 12%
Niveau d'or	7 200 entrepreneurs	Discussion de 13 à 15%

Formation technique et ressources éducatives

Sherwin-Williams fournit des ressources de formation complètes:

• Sessions de formation annuelles: 42 000 participants professionnels
• Modules de formation en ligne: 89 000 cours terminés
• Webinaires techniques: 156 sessions en 2023

Investissement total dans les plateformes de relation client en 2023: 47,3 millions de dollars

The Sherwin-Williams Company (SHW) - Modèle d'entreprise: canaux

Ventes directes aux entrepreneurs professionnels

En 2023, Sherwin-Williams a généré 22,86 milliards de dollars de ventes nettes, avec une partie importante des canaux d'entrepreneur professionnel.

Segment de canal	Volume des ventes annuelles	Pénétration du marché
Ventes d'entrepreneurs professionnels	8,4 milliards de dollars	36,8% des revenus totaux

• Représentants des ventes dédiés
• Gestion spécialisée du compte d'entrepreneur
• Programmes de prix personnalisés et de commande en vrac

Partenariats de vente au détail avec les magasins de rénovation domiciliaire

Les partenariats avec les principaux détaillants contribuent considérablement à la stratégie de distribution.

Partenaire de vente au détail	Contribution des ventes	Durée du partenariat
Le Home Depot	3,2 milliards de dollars	15 ans et plus
Lowe's	2,7 milliards de dollars	12 ans et plus

Magasins de peinture appartenant à l'entreprise

En 2023, Sherwin-Williams exploite 4 712 magasins appartenant à l'entreprise dans le monde.

Emplacement du magasin	Nombre de magasins	Revenus de magasins annuels
États-Unis	4,360	12,5 milliards de dollars
International	352	1,8 milliard de dollars

Plates-formes de commerce électronique

Les canaux de vente numériques représentent 12,4% du total des revenus de l'entreprise en 2023.

• Système de commande en ligne propriétaire
• Application mobile avec des outils de sélection de produits
• Technologie de visualisation des couleurs numériques

Marketing numérique et informations sur les produits en ligne

Le budget du marketing numérique en 2023 était de 186 millions de dollars.

Canal numérique	Visiteurs mensuels du site Web	Abonnés des médias sociaux
Site Web Sherwin-Williams	2,3 millions	N / A
Instagram	N / A	345,000

The Sherwin-Williams Company (SHW) - Modèle d'entreprise: segments de clientèle

Peintres et entrepreneurs professionnels

Représente environ 40% des revenus totaux de Sherwin-Williams, avec un volume de ventes annuel de 6,2 milliards de dollars de segment professionnel pour 2023.

Caractéristiques du segment	Part de marché	Dépenses annuelles
Entrepreneurs en peinture commerciale	22%	2,8 milliards de dollars
Entrepreneurs en peinture résidentielle	18%	3,4 milliards de dollars

Propriétaires résidentiels

Représente environ 35% du total des revenus de l'entreprise, générant 5,4 milliards de dollars de ventes en 2023.

• Segment du marché de l'amélioration de la maison DIY
• Dépenses moyennes des clients: 350 $ - 750 $ par an
• Primaire démographique: propriétaires âgés de 35 à 55 ans

Entreprises commerciales et industrielles

Représente 15% des revenus de l'entreprise, avec des ventes annuelles de 2,3 milliards de dollars en 2023.

Segment de l'industrie	Pénétration du marché	Revenus annuels
Fabrication	6%	900 millions de dollars
Gestion des installations	5%	750 millions de dollars
Infrastructure	4%	650 millions de dollars

Cabinets d'architectes et concepteurs

Contribue 7% aux revenus totaux, générant 1,1 milliard de dollars de ventes pour 2023.

• Segment de marché axé sur les spécifications
• Valeur moyenne du projet: 75 000 $ - 250 000 $
• Focus primaire: projets commerciaux et institutionnels

Marchés de revêtement automobile et maritime

Génère 3% des revenus de l'entreprise, avec des ventes annuelles de 460 millions de dollars en 2023.

Segment de marché	Volume des ventes	Taux de croissance
Revêtements automobiles	310 millions de dollars	2.5%
Revêtements marins	150 millions de dollars	1.8%

The Sherwin-Williams Company (SHW) - Modèle d'entreprise: Structure des coûts

Achat de matières premières

Dépenses annuelles sur les matières premières pour 2023: 4,2 milliards de dollars

Catégorie de matières premières	Coût annuel	Pourcentage des dépenses totales de matières premières
Pigments	1,26 milliard de dollars	30%
Résines	1,05 milliard de dollars	25%
Solvants	840 millions de dollars	20%
Additifs	630 millions de dollars	15%
Matériaux d'emballage	420 millions de dollars	10%

Frais de fabrication et de production

Coûts de fabrication totaux pour 2023: 2,8 milliards de dollars

• Coûts de main-d'œuvre: 980 millions de dollars
• Entretien de l'équipement: 420 millions de dollars
• Consommation d'énergie: 350 millions de dollars
• Pridifaire des installations: 560 millions de dollars
• Contrôle de la qualité: 210 millions de dollars

Investissements de recherche et développement

Dépenses de R&D pour 2023: 332 millions de dollars

Zone de focus R&D	Montant d'investissement
Nouvelles technologies de peinture	165 millions de dollars
Solutions de revêtement durables	98 millions de dollars
Technologies de correspondance des couleurs numériques	69 millions de dollars

Opérations de marketing et de vente

Total des frais de marketing et de vente pour 2023: 1,5 milliard de dollars

• Publicité et promotions: 450 millions de dollars
• Compensation de la force de vente: 375 millions de dollars
• Marketing numérique: 225 millions de dollars
• Salon du commerce et marketing d'événements: 150 millions de dollars
• Gestion de la relation client: 300 millions de dollars

Distribution et logistique globales

Coûts totaux de distribution et de logistique pour 2023: 1,1 milliard de dollars

Composant logistique	Coût annuel
Transport	495 millions de dollars
Entrepôts	330 millions de dollars
Gestion des stocks	165 millions de dollars
Expédition internationale	110 millions de dollars

The Sherwin-Williams Company (SHW) - Modèle d'entreprise: Strots de revenus

Ventes de peinture architecturale

En 2023, Sherwin-Williams a déclaré des revenus de ventes de peinture architecturaux de 7,78 milliards de dollars. Ce segment comprend:

• Ventes de peinture résidentielle
• Ventes de peinture commerciale
• Produits du marché du bricolage

Catégorie de produits	Revenus de 2023	Part de marché
Peinture résidentielle	4,2 milliards de dollars	38%
Peinture commerciale	3,58 milliards de dollars	32%

Revêtements industriels et protecteurs

Les revenus des revêtements industriels en 2023 ont atteint 3,45 milliards de dollars, avec des marchés clés, notamment:

• Fabrication
• Construction
• Projets d'infrastructure

Segment industriel	Revenus de 2023
Revêtements de fabrication	1,87 milliard de dollars
Revêtements protecteurs	1,58 milliard de dollars

Produits de financement automobile

Le segment de financement automobile a généré 2,1 milliards de dollars de revenus pour 2023, couvrant:

• Réparation de collision
• Peinture automobile professionnelle
• Marché secondaire automobile

Revêtements de performance pour les industries spécialisées

Les revenus spécialisés des revêtements de performances ont totalisé 1,95 milliard de dollars en 2023, notamment:

• Revêtements marins
• Revêtements aérospatiaux
• Applications industrielles spécialisées

Services de consultation et de conception en couleur

Les services de consultation en couleur professionnelle ont généré environ 250 millions de dollars de revenus supplémentaires pour 2023, notamment:

• Correspondance des couleurs numériques
• Consultations du centre de conception
• Services de conception professionnelle

Flux de revenus	2023 Revenu total	Pourcentage des ventes totales
Ventes de peinture architecturale	7,78 milliards de dollars	42%
Revêtements industriels	3,45 milliards de dollars	19%
Se rétablir l'automobile	2,1 milliards de dollars	11%
Revêtements de performance	1,95 milliard de dollars	10%
Consultation couleur	250 millions de dollars	1%

The Sherwin-Williams Company (SHW) - Canvas Business Model: Value Propositions

Differentiated solutions that drive professional customer productivity.

For one work truck manufacturer, optimizing the finishing line with Sherwin-Williams expertise resulted in the potential to increase profit by more than $600,000 per month. This was achieved by increasing capacity from one unit per shift to a potential of four units per shift through process streamlining and product system switching.

Highest quality and durability in interior/exterior paints (J.D. Power 2025).

Product Category	J.D. Power 2025 Score (out of 1,000)	Ranking
Interior Paint	728	Highest
Exterior Paint	726	Highest
Exterior Stain	722	Second

Immediate product availability and technical expertise at company stores.

The Sherwin-Williams Paint Store ranked highest in the paint retailer segment with a score of 750 in the J.D. Power 2025 U.S. Paint Satisfaction Study. The Company-operated store chain includes more than 5,400 locations. Paint Stores Group net sales increased 2.3% in Q1 2025 and 5.1% in Q3 2025. Same-store sales for the Paint Stores Group increased 3.6% in the third quarter of 2025.

High-performance industrial and protective coatings for specialized uses.

The industrial coatings segment generated $6.27 billion in sales in 2024. The Performance Coatings Group (PCG) saw net sales rise 1.7% in Q3 2025, supported by packaging and auto-refinish coatings. Protective and marine coatings saw a high-single digit percentage increase in net sales in Q2 2025 and double-digit gains in Q3 2025. Packaging coatings achieved double-digit percentage growth for the full year 2024.

Color and design tools like the ColorSnap app for digital innovation.

• ColorSnap Visualizer for mobile integrates an augmented reality (AR) experience called Instant Paint.
• The app allows users to test any of the 1,500 available colors on walls in real time.
• The ColorSnap Precision technology is available in-store for fast, precise, custom color matching.

For the full year 2024, consolidated Net sales reached a record of $23.10 billion.

The Sherwin-Williams Company (SHW) - Canvas Business Model: Customer Relationships

You're looking at how The Sherwin-Williams Company keeps its diverse customer base-from the single-crew contractor to the global OEM-locked in. It's a multi-pronged approach, heavy on personal service where it matters most, and digital where efficiency is key. The core of this relationship strategy is definitely the Paint Stores Group (PSG), which operates a unique controlled-distribution model through 4,773 company-owned specialty paint stores across the USA, Canada, and the Caribbean as of December 31, 2024.

For the professional segment, which is the backbone of PSG, the relationship is high-touch. Store managers and field sales reps provide dedicated service. This focus paid off in Q2 2025, where net sales from stores open more than twelve calendar months increased 0.8%. Looking at Q1 2025, PSG sales overall increased 2.3%, and the segment margin improved 120 basis points year-over-year to 18.4%. Specific professional end markets showed strength, with residential repaint sales up a mid-single digit percentage in Q2 2025.

The Sherwin-Williams Company is definitely leaning into making the professional experience seamless. They offer specific programs to deepen these ties:

• PRO+ program for exclusive pricing.
• Flexible credit plans at 0% interest.
• Free, convenient delivery to the job site.
• Consistent preferential pricing across all stores.

The commitment to personalized, in-language support is clear through the El Aliado del PRO initiative. This program is designed to help Spanish-speaking professionals, offering expert advice in their language. They staff stores with experts to help in the customer's language, with reports indicating more than 6,000 Spanish-speaking experts available in stores. They even publish Pintor PRO, a bilingual magazine written for and about Latino contractors.

For the DIY and smaller professional customers, self-service digital tools are increasingly important. The company is actively executing a multi-year phased process to upgrade and harmonize its IT systems, which includes a broader digitization initiative. This digital push supports personalized communications, which they use to enhance satisfaction.

The relationship with industrial OEM clients, primarily served by the Performance Coatings Group (PCG), is consultative and long-term. PCG sells high-performance coatings to industrial customers in over 120 countries worldwide. While Q1 2025 saw a sales decline in PCG, partially due to an approximate 3% impact from unfavorable currency translation, the company's stated goal is to provide differentiated solutions that drive customer productivity and profitability. For context, PCG generated $6.27 billion in sales in 2024.

Here's a quick look at how the core customer-facing segments performed, using the latest available figures:

Metric	Segment/Group	Value	Period
Net Sales	Consolidated (Reported)	$6.36 billion	Q3 2025
Same-Store Sales Growth	Paint Stores Group (PSG)	0.8%	Q2 2025
Segment Margin	Paint Stores Group (PSG)	18.4%	Q1 2025
Net Sales	Performance Coatings Group (PCG)	Effectively flat	Q2 2025
Full Year Guidance (Adjusted EPS)	Company-wide	Range of $11.25 to $11.45 per share	Full Year 2025

The company's overall focus remains on deepening these relationships, as management stated they continue to make investments confident they will deepen existing customer relationships and capture incremental share. Finance: draft 13-week cash view by Friday.

The Sherwin-Williams Company (SHW) - Canvas Business Model: Channels

You're looking at the pathways The Sherwin-Williams Company uses to get its products to market as of late 2025. It's a multi-pronged approach, balancing direct control with broad retail access.

Company-owned stores (Paint Stores Group) for professional customers represent the core distribution engine. As of the last reported quarter in 2025, the total number of stores and branches stood at 5,369.00, an increase from 5,344.00 the prior quarter. For the full year 2024, this group generated $13.19 billion in revenue, accounting for 46.35% of the consolidated net sales of $23.10 billion. In the third quarter of 2025, net sales from stores open more than twelve calendar months increased by 3.6%. For the first quarter of 2025, net sales for the Paint Stores Group reached $2.94 billion, a 2.3% increase year-over-year.

Third-party retailers and home centers (Consumer Brands Group) serve the do-it-yourself (DIY) market and other retail channels. This group faced headwinds in early 2025; for instance, Q1 2025 net sales were reported at $762.2 million, a 6% decline from Q1 2024. In Q3 2025, revenue for the Consumer Brands Group was $770.1 million, down from $790.5 million the prior year. In fiscal year 2024, this segment generated $8.41 billion in revenue, representing 29.56% of the total.

The direct sales force for Performance Coatings Group (industrial/OEM) focuses on highly-engineered solutions globally. This group's channel is direct to industrial customers in markets like construction, packaging, and transportation across over 120 countries. While Q1 2025 net sales for the Performance Coatings Group decreased by 4.8%, the segment was effectively flat in Q2 2025. In fiscal year 2024, the Global Finishes Group, which aligns with this segment, recorded $6.85 billion in revenue, or 24.09% of the total.

E-commerce platforms and the ColorSnap mobile application support both professional and consumer selection processes. The ColorSnap Visualizer app allows users to test any of the company's 1,500 colors on walls in real time using augmented reality (AR) via the Instant Paint feature. The ColorSnap Match device, available in-store, works with a smartphone to scan a color from any surface and match it to the closest paint color. The app also includes a Paint Calculator feature.

Distribution centers supporting the global supply chain are essential for moving product from manufacturing to the various sales channels. The company operates with global headquarters in Cleveland, Ohio, and serves customers in over 120 countries.

Here's a quick look at the segment revenue performance based on the latest available figures:

Segment/Group	Reported Period	Net Sales/Revenue Amount	Year-over-Year Change
Paint Stores Group (PSG) - Same Store Sales	Q3 2025	N/A	3.6% increase
Paint Stores Group (PSG) - GAAP Revenue	Q2 2025	$3.70 billion	2.3% increase
Consumer Brands Group (CBG) - Revenue	Q3 2025	$770.1 million	Decline from $790.5 million
Consumer Brands Group (CBG) - Net Sales	Q1 2025	$762.2 million	6.0% decrease
Consolidated Net Sales (TTM)	Ending September 30, 2025	$23.276 billion	0.96% increase

The digital tools help streamline the specification journey for both pros and homeowners:

• ColorSnap Visualizer offers real-time AR visualization of 1,500 colors.
• ColorSnap Match device provides low-cost mobile color scanning.
• The company plans to open 80-100 North America Paint Stores in 2025.
• In Q1 2025, the company opened 18 new stores in the Paint Stores Group segment.

Finance: draft 13-week cash view by Friday.

The Sherwin-Williams Company (SHW) - Canvas Business Model: Customer Segments

You're looking at how The Sherwin-Williams Company structures its approach to its buyers, which is fundamentally organized around its three main operating segments. Honestly, the data clearly shows a heavy reliance on the professional trade, but the other segments are crucial for overall scale and diversification.

The core focus is definitely on the professional side, served overwhelmingly through the Paint Stores Group (PSG). This segment captures the Professional Architectural Painting Contractors, the Residential Repaint market, and the New Residential home builders. For example, in Q2 2025, residential repaint sales grew at a mid-single digit rate, showing continued strength from prior growth investments, even in a down market. Also, protective and marine coatings, part of this group, grew by a high-single digit percentage for the fourth consecutive quarter in Q2 2025. This group generated $13.19 billion in revenue in fiscal year 2024, representing 46.35% of total revenue.

The Industrial and OEM customers are primarily served by the Performance Coatings Group (PCG), also known as the Global Finishes Group. This group handles specialized needs like Automotive, Packaging, and Marine applications outside the PSG's scope. While the overall PCG saw a 4.8% sales decline in Q1 2025, the Packaging sub-segment showed resilience, growing by a double digit percentage in Q2 2025. In fiscal year 2024, this group brought in $6.85 billion, or 24.09% of the total revenue.

The Do-It-Yourself (DIY) homeowners segment is captured within the Consumer Brands Group (CBG), which sells through retail partners and dealers. This segment faced headwinds; its net sales decreased by 6.0% in Q1 2025 due to persistent softness in North American DIY demand. Still, the median household income (HHI) of the captured market across the company has been rising, hitting $74.5K as of August 2024.

The relative importance of these customer groups, based on the latest full-year segment revenue data, looks like this:

Customer Segment Grouping	Primary SHW Operating Segment	FY 2024 Revenue (Approximate)	FY 2024 Revenue Share	Key 2025 Performance Indicator (Latest Available)
Professional Architectural Painting Contractors, New Home Builders, Commercial Property Managers	Paint Stores Group (PSG)	$13.19 B	45.08% to 46.35%	PSG Sales up 2.3% in Q1 2025; Residential Repaint up mid-single digits in Q2 2025.
Industrial and OEM customers (Automotive, Packaging, Marine, Wood)	Performance Coatings Group (PCG) / Global Finishes Group (GFG)	$6.85 B	24.09% to 25.12%	Packaging sales up by a double digit percentage in Q2 2025.
Do-It-Yourself (DIY) homeowners (via retail partners)	Consumer Brands Group (CBG)	$8.41 B	29.56%	CBG Sales down 6.0% in Q1 2025 due to soft DIY demand.

The company's strategy in 2025, despite choppy demand, was to maintain discipline while focusing on where the money is made. Management reaffirmed its full-year 2025 guidance for consolidated net sales to be up a low-single digit percentage compared to 2024.

You can see the focus on the professional segment by looking at the store count and service level. The Sherwin-Williams Company had 4,773 company-owned specialty paint stores as of December 31, 2024, which exclusively serve the professional trade with branded products.

The company also caters to specific needs within these groups, which you see reflected in the segment performance:

• Professional Contractors: Strong performance in residential repaint and protective/marine coatings.
• Industrial/OEM: Packaging is a key growth driver, offsetting softness elsewhere.
• DIY Homeowners: Facing North American softness, but the brand is succeeding at drawing higher-income customers.
• Commercial Property Managers: Results were noted as under pressure in Q2 2025 due to delayed capital expenditure spending.

The Sherwin-Williams Company (SHW) - Canvas Business Model: Cost Structure

You're looking at the cost side of The Sherwin-Williams Company's operations as of late 2025. It's a structure heavily influenced by input prices, a massive physical footprint, and ongoing strategic realignment.

The cost structure is dominated by several key areas. Raw material procurement remains a critical, volatile component. Back in January 2025, The Sherwin-Williams Company was anticipating a low single-digit percentage increase in raw material costs for the full year, alongside tariff impacts. This pressure on input costs, which include titanium dioxide ($\text{TiO}_2$), industrial resins, and solvents, directly impacts the Cost of Goods Sold, though the company has been focused on gross margin expansion through pricing discipline.

Selling, General, and Administrative (SG&A) expenses are extensive, reflecting the scale of the controlled store network and corporate overhead. For the second quarter of 2025, SG&A costs grew 9% to $2.01 billion. This increase was attributed to a combination of factors:

• A broader restructuring initiative related to softer demand.
• Sooner than anticipated building-related costs, such as those for the new global headquarters and R&D buildings.
• Heightened growth investment in the Paint Stores Group to capitalize on competitive opportunities.

Management maintained guidance for the full year 2025 that SG&A will increase by a low single-digit percentage.

Operating costs for the large, controlled store network are embedded within SG&A and other operating expenses, driven by employee-related costs and the ongoing expansion. The company opened 38 net new stores year-to-date as of the Q2 2025 earnings release.

To manage costs amid choppy demand, The Sherwin-Williams Company has made significant adjustments to its investment and restructuring plans for 2025. Capital expenditures (CapEx) were actively reduced. The company cut its planned spending by $170 million, bringing the total CapEx for 2025 down to $730 million. This figure includes an expected $115 million investment in new facilities for the year.

Furthermore, restructuring expenses were accelerated and increased. The full-year target for restructuring initiatives was more than doubled to approximately $105 million, or $0.32 per share, for the full year 2025. These actions are expected to generate annual savings of approximately $80 million.

Here's a quick look at some of the key cost-related financial figures reported or guided for 2025:

Cost Component	Specific Amount/Rate	Period/Context
Total Capital Expenditures (CapEx)	$730 million	Full Year 2025 Guidance (Reduced)
Restructuring Expenses Target	$105 million (or $0.32 per share)	Full Year 2025 Target
SG&A Expenses	$2.01 billion	Q2 2025 Actual
SG&A Growth Rate	9% increase	Q2 2025 Year-over-Year
Non-Operating Costs Headwind	Approximately $75 million	Q2 2025 Actual
Expected Annual Restructuring Savings	Approximately $80 million	From 2025 Restructuring Actions

To be fair, the reported restructuring charge in Q2 2025 was $0.18 per share, and Q1 2025 saw $0.06 per share, meaning the year-to-date impact before the full $105 million target was set or fully realized was already substantial.

The Sherwin-Williams Company (SHW) - Canvas Business Model: Revenue Streams

You're looking at the core ways The Sherwin-Williams Company brings in money, which is heavily weighted toward its direct-to-professional channel. The revenue streams are segmented clearly across the three main operating groups, reflecting where the company focuses its sales efforts.

The overall revenue generation for The Sherwin-Williams Company is structured around these three primary sources, as represented in the Business Model Canvas:

• Sales from Paint Stores Group (PSG), representing 57% of total sales.
• Sales from Performance Coatings Group (PCG), representing 29% of total sales.
• Sales from Consumer Brands Group (CBG), representing 14% of total sales.

For the second quarter of 2025, the absolute revenue figures from these segments give you a clearer picture of the scale. The Paint Stores Group generated $3.70 billion in net sales for the quarter, a 2.3% increase year-over-year. This growth was fueled by selling price increases and strength in professional end markets like protective and marine coatings, which saw high-single-digit growth.

The Performance Coatings Group reported net sales of $1.80 billion in Q2 2025, which was flat overall compared to the prior year. Still, specific areas within PCG showed strength, with packaging and coil coatings delivering double-digit growth, offsetting declines elsewhere. The Consumer Brands Group, however, saw a decrease in net sales, reporting $809.40 million in Q2 2025, down 4.1%, driven by soft DIY demand in North America and unfavorable foreign currency translation.

Pricing actions are a key lever in driving revenue, especially in the largest segment. You see revenue from selling price increases contributing to the top line; for instance, in Q2 2025, the Paint Stores Group saw its growth supported by pricing actions. Management commentary in late 2025 indicated expectations for revenue from selling price increases to be in the mid-single digits in PSG for that period.

Here's a quick look at the Q2 2025 segment revenue snapshot:

Segment	Q2 2025 Net Sales (USD)	Approximate % of Total Sales (as per BMC outline)
Paint Stores Group (PSG)	$3.70 billion	57%
Performance Coatings Group (PCG)	$1.80 billion	29%
Consumer Brands Group (CBG)	$809.40 million	14%

Looking ahead, the financial outlook for the full year 2025 reflects the challenging demand environment. The company narrowed its full-year guidance for adjusted diluted EPS to a range of $11.25 to $11.45 per share. This compares to an actual of $11.33 per share in 2024.

Other financial data points relevant to the revenue stream execution include:

• Consolidated Net sales for Q2 2025 increased 0.7% to $6.31 billion.
• The company returned $1.27 billion to shareholders in Q2 2025 through dividends and share repurchases.
• Adjusted EBITDA margin for Q3 2025 expanded 60 basis points to 21.4%.