Ppg Industries Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Ppg Industries Inc (PPG) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Ppg Industries Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 16,692M vs 152,924M combined for its competitors (9.8% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+4.3% annualized vs trailing 12 months), vs accelerating (+7.6%) for its tracked peer group.
- Growth: Ppg Industries Inc generated 6.6% revenue growth year over year in Q3 2026, vs 3.5% for its competitors combined.
- Profitability: Its 10.4% net margin compares with 3.3% for the peer group.
- Scale: Ppg Industries Inc ranks #3 of 81 companies by market capitalization in the Chemical Manufacturing industry, holding 5.3% of industry market cap.
- Peer revenue share: Ppg Industries Inc accounted for 9.6% of combined revenue among its tracked peer group, up from 9.3% a year earlier.
- Peer differentiation: Revenue per employee of $0.38M compares with $0.69M for the peer group (0.6x).
- Structure: Ppg Industries Inc operates in the following segments: Industrial Coatings, Performance Coatings, Global Architectural Coatings.
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
PPG Sales vs. its Competitors, Q3 2026
Ppg Industries Inc reported revenue growth of 6.64 % year on year in Q3 2026, above its competitors' combined revenue growth of 3.52 %.
With a net margin of 10.36 %, Ppg Industries Inc achieved higher profitability than its competitors (3.29 %).
Ppg Industries Inc generated 9.57 % of the combined sales of its peer group, up from 9.32 % a year earlier.
API endpoints for this dataset
Ppg Industries Inc vs. its Competitors, Q3 2026
Revenue growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Ppg Industries Inc reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Ppg Industries Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Ppg Industries Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (4) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (5) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (3) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Ppg Industries Inc's competitor groups requires a Commercial License.
For context: the Chemical Manufacturing industry grew revenue 1.9% year over year, combined, vs 6.6% for Ppg Industries Inc. Ppg Industries Inc's share of combined industry revenue moved from 4.48% to 4.69%, a gain of 0.21 percentage points.
Ppg Industries Inc's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Ppg Industries Inc | Yes | Yes | Yes | No |
| Competitors combined (34) | ||||
| High-Confidence Competitors (4) | ||||
| Similar-Size Competitors (7) | ||||
| Similar Growth & Profitability (8) | 87.50 % (7 of 8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 0.00 % (0 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
PPG Stock Performance relative to its Competitors
PPG Stock Performance relative to High-Confidence Competitors
PPG Stock Performance relative to Similar-Size Competitors
PPG Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Enviri Corp | 282.9% | Outperformed |
| 2 | Ecopetrol S a | 282.9% | Outperformed |
| 3 | Stepan Company | 282.9% | Outperformed |
| 4 | Valaris Limited | 282.9% | Outperformed |
| 5 | Ashland Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Ppg Industries Inc's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Ppg Industries Inc's Comment on Competition and Industry Peers
Publicly Traded Peers of Ppg Industries Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Ppg Industries Inc |
27,315.22 | 16,692.00 |
 The Sherwin williams Company |
84,648.60 | 24,409.20 |
 Illinois Tool Works Inc |
80,155.04 | 16,646.00 |
 Occidental Petroleum Corporation |
57,067.84 | 21,671.00 |
 Ecopetrol S a |
31,970.80 | 30,513.17 |
 Dow Inc |
22,840.36 | 40,494.00 |
| SUBTOTAL | 446,483.98 | 282,111.19 |
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Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Ppg Industries Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Ppg Industries Inc's Competitors Named by the Company
Competitive relationships identified from Ppg Industries Inc reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Axalta Coating Systems Ltd | Company report | 85% |
| BASF Corporation | Company report | 85% |
| Nippon Paint | Company report | 85% |
| Akzo Nobel N.V. | Company report | 85% |
| Kansai Paints | Company report | 85% |
| The Sherwin-Williams Company | Company report | 85% |
| RPM International Inc. | Company report | 85% |
| Asian Paints Ltd. | Company report | 85% |
| Ingevity Corporation | Company report | 85% |
| Hempel A/S | Company report | 85% |
| the Jotun Group | Company report | 85% |
| Benjamin Moore | Company report | 85% |
| Masco Corporation | Company report | 85% |
| Ferro Corporation | Company report | 85% |
| Dupont De Nemours Inc | Company report | 85% |
| Quaker Chemical Corporation | Company report | 85% |
| Dow Inc | Company report | 85% |
| Eastman Chemical Co | Company report | 85% |
| Olin Corporation | Company report | 85% |
| The Sherwin williams Company | Company report | 85% |
| Cabot Corporation | Company report | 85% |
| Huntsman Corporation | Company report | 85% |
| Illinois Tool Works Inc | Company report | 85% |
| Ashland Inc | Company report | 85% |
| Trinseo Plc | Company report | 85% |
| Tecnoglass Inc | Company report | 85% |
| Avient Corporation | Company report | 85% |
| W R Grace and co | Company report | 85% |
| Fuller H B Co | Company report | 85% |
| Celanese Corporation | Company report | 85% |
| Apogee Enterprises Inc | Company report | 85% |
Company report basis, confidence, active dates and source counts for Ppg Industries Inc's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Ppg Industries Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Ppg Industries Inc | Industrial Coatings 40.06 % |
| The Sherwin williams Company | Paint Stores Group 57.30 % |
| Illinois Tool Works Inc | Test and Measurement and Electronics 19.33 % |
| Occidental Petroleum Corporation | Oil and gas 95.12 % |
| Dow Inc | Operating Segment Total 98.39 % |
| Dupont De Nemours Inc | Diversified Industrials 52.87 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
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Ppg Industries Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Ppg Industries Inc | 27,315 | 383,724 | 36,368 |
| The Sherwin williams Company | 84,649 | 379,916 | 41,840 |
| Illinois Tool Works Inc | 80,155 | 387,116 | 75,070 |
| Occidental Petroleum Corporation | 57,068 | 2,081,348 | 702,171 |
| Ecopetrol S a | 31,971 | 1,271,382 | 153,423 |
| Dow Inc | 22,840 | 1,170,347 | -38,728 |
| PEERS TOTAL | 419,169 | 694,882 | 42,116 |
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Ppg Industries Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Ppg Industries Inc | North America 33.22 % |
| The Sherwin williams Company | Non-US 20.00 % |
| Occidental Petroleum Corporation | Non-US 20.75 % |
| Dow Inc | U.S.& Canada 40.37 % |
| Dupont De Nemours Inc | Asia Pacific 23.77 % |
| Masco Corporation | North America 80.47 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
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Ppg Industries Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 76 companies in Ppg Industries Inc's industry classification, broader than the peer set above. Market cap in millions of $.Ppg Industries Inc ranks #3 of 76 companies by market capitalization in its industry, holding 5.32 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 2,476, indicating a moderately concentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Linde Plc | 238,774 | 46.99 % |
| 2 | Air Products And Chemicals Inc | 67,945 | 13.37 % |
| 3 | Ppg Industries Inc | 27,043 | 5.32 % |
| 4 | International Flavors and Fragrances Inc | 21,377 | 4.21 % |
| 5 | Lyondellbasell Industries N v | 1,234 | 5.2% |
| 6 | Rpm International Inc | 1,234 | 5.2% |
| 7 | Westlake Corporation | 1,234 | 5.2% |
| 8 | Corteva Inc | 1,234 | 5.2% |
| 9 | Axalta Coating Systems Ltd | 1,234 | 5.2% |
| 10 | Element Solutions Inc | 1,234 | 5.2% |
Market cap and industry share for the rest of Ppg Industries Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-06.
Ppg Industries Inc's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 1 | Linde Plc | 238,774 | 22.90 % |
| 2 | Air Products And Chemicals Inc | 67,945 | 28.37 % |
| 3 | Ppg Industries Inc | 27,043 | 25.49 % |
| 4 | International Flavors and Fragrances Inc | 1,234 | 12.3% |
| 5 | Lyondellbasell Industries N v | 1,234 | 12.3% |
| 6 | Rpm International Inc | 1,234 | 12.3% |
| 7 | Westlake Corporation | 1,234 | 12.3% |
| 8 | Corteva Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Ppg Industries Inc's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-06. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Ppg Industries Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Chemical Manufacturing industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (116 companies). See the full Chemical Manufacturing industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 30.06 % | 22.62 % (avg) | +7.4 pp |
| Operating Margin | 13.68 % | industry median | +2.0 pp |
| EBITDA Margin | 19.88 % | 1.52 % (avg) | +18.4 pp |
| Capital Intensity (Capex / Revenue) | 4.58 % | 7.74 % (avg) | -3.2 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Ppg Industries Inc's Valuation vs Competitive Position
Valuation multiples vs the Chemical Manufacturing industry average (116 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Chemical Manufacturing industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 16.3x | 26.0x | -9.7x |
| EV / EBITDA | 9.3x | 13.4x | -4.1x |
| P/B | 3.0x | 3.8x | -0.8x |
| Return on Equity | 18.85 % | industry aggregate | 2.10 % |
| Return on Invested Capital | 8.85 % | -0.85 % (avg) | 9.70 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Ppg Industries Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 3.65 % | -1.48 % | -9.52 % | 25.29 % | 1.43 % | 3.37 % | -13.16 % | 0.19 % |
| Operating Margin | 11.68 % | 11.69 % | 10.38 % | 11.55 % | 10.45 % | 13.46 % | 13.15 % | 12.89 % |
| Return on Invested Capital | 10.07 % | 9.54 % | 7.54 % | 8.91 % | 8.11 % | 9.83 % | 8.64 % | 8.45 % |
| P/E | 19.0x | 24.8x | 34.8x | 23.2x | 29.8x | 25.6x | 26.6x | 14.6x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Ppg Industries Inc's Strategic Group Map
Ppg Industries Inc is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Ppg Industries Inc's trailing-12-month revenue growth of 18.2% and operating margin of 13.7% compares with an average of 16.2% growth and 13.7% margin across its 8 closest peers by combined growth, margin and ROIC -- Ppg Industries Inc sits above that peer average on growth and below it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Ppg Industries Inc's BCG Growth-Share Matrix
See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.
Ppg Industries Inc falls in the Dog quadrant: relative market share of 0.11x vs its largest competitor, in an industry growing revenue 2.4% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution. A caveat worth reading alongside this chart: Linde Plc alone holds 47% of this industry's market cap. In an industry this dominated by one leader, the framework will place nearly every OTHER company in "Dog" or "Question Mark" purely because relative share is measured against that leader, regardless of how strong those other companies actually are on their own fundamentals. Check the Profitability, Valuation and Financial Strength sections above before treating this quadrant label as a verdict.
Ppg Industries Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | Moderate | Industry HHI of 2,476 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 4.58 % vs industry average 7.74 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Ppg Industries Inc's dedicated Suppliers and Customers pages, not here.
Ppg Industries Inc's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Ppg Industries Inc falls in the Low attractiveness / Medium strength cell: Harvest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Ppg Industries Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Latest-quarter revenue run-rate is accelerating (+4.3% annualized vs trailing 12 months).
- Outperforming the U.S.A. 500 over the trailing 12 months.
Weaknesses
- Low relative market share vs the industry leader (0.11x).
Opportunities
- Trades at a lower P/E than the industry average (16.3x vs 26.0x) despite a higher return on invested capital -- a possible re-rating opportunity.
Threats
- Industry dominated by Linde Plc, holding 46.99 % of industry market cap.
Methodology: see Methodology: SWOT Analysis.
Ppg Industries Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Ppg Industries Inc | 0.34 | 1.60 | 0.88 |
| The Sherwin williams Company | 0.03 | 0.81 | 2.67 |
| Illinois Tool Works Inc | 0.15 | 1.20 | 2.98 |
| Occidental Petroleum Corporation | 0.34 | 1.11 | 0.57 |
| Ecopetrol S a | 0.11 | 0.54 | 0.95 |
| Dow Inc | 0.40 | 1.87 | 1.01 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Ppg Industries Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Ppg Industries Inc | Q3 2026 | +6.6 % | +0.9 % |
| The Sherwin williams Company | Q2 2026 | +7.5 % | +11.8 % |
| Illinois Tool Works Inc | Q3 2026 | +4.4 % | +4.1 % |
| Occidental Petroleum Corporation | Q2 2026 | +53.4 % | +540.2 % |
| Ecopetrol S a | Q4 2025 | -7.1 % | -19.2 % |
| Dow Inc | Q3 2026 | +11.5 % | - |
| PEERS TOTAL | +2.6 % | +158.2 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Ppg Industries Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Ppg Industries Inc | Q3 2026 | +6.7 % | +5.4 % |
| The Sherwin williams Company | Q2 2026 | +8.0 % | -40.3 % |
| Illinois Tool Works Inc | Q3 2026 | -12.8 % | -12.8 % |
| Occidental Petroleum Corporation | Q2 2026 | - | -6.8 % |
| Ecopetrol S a | Q4 2025 | -3.3 % | +6.2 % |
| Dow Inc | Q3 2026 | +3.9 % | +98.0 % |
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Ppg Industries Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Ppg Industries Inc | 7.08% | 9.09% | 18.85% |
| The Sherwin williams Company | 10.20% | 16.38% | 62.12% |
| Illinois Tool Works Inc | 19.74% | 22.80% | 103.35% |
| Occidental Petroleum Corporation | 8.90% | 8.31% | 18.83% |
| Ecopetrol S a | 5.12% | 7.30% | 13.53% |
| Dow Inc | - | - | - |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Ppg Industries Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Ppg Industries Inc | 17.68 | 1.64 |
| The Sherwin williams Company | 31.77 | 3.47 |
| Illinois Tool Works Inc | 36.49 | 4.82 |
| Occidental Petroleum Corporation | 8.73 | 2.63 |
| Ecopetrol S a | 119.09 | 1.05 |
| Dow Inc | - | 0.56 |
| PEERS AVERAGE | 25.27 | 1.58 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.