SHW · 10-Q · 2026Q1 · Full report

Net Working Capital

SHERWIN WILLIAMS CO · 2026-04-28 · Importance 89 · Surprise 82

Net working capital improved by $802.1 million year-over-year to a deficit of $1.035 billion at March 31, 2026 compared to a deficit of $1.837 billion at March 31, 2025.,The change was driven by a $460.0 million increase in current assets (including a $379.0 million increase in accounts receivable and $105.9 million increase in other current assets) and a $342.1 million decrease in current liabilities led by a $1.151 billion reduction in the current portion of long-term debt.,Offsets included increases in short-term borrowings of $578.1 million, accounts payable of $90.5 million and other accruals of $54.3 million; the Company’s current ratio was 0.86 at March 31, 2026.

Key facts

• Net working capital (Total current assets less Total current liabilities) at March 31, 2026: a deficit of $1.035 billion, an increase of $802.1 million from a deficit of $1.837 billion at March 31, 2025.
• Current liability balances decreased $342.1 million at March 31, 2026 compared to March 31, 2025 due to a decrease in the Current portion of long-term debt of $1,151.0 million, partially offset by increases in Short-term borrowings of $578.1 million, Accounts payable of $90.5 million, Other accruals of $54.3 million, Accrued taxes of $45.8 million, Compensation and taxes withheld of $25.3 million and the Current portion of operating lease liabilities of $14.6 million.

Impact estimates