PPG Industries (PPG)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
At a market value of $22.9B, PPG Industries's free cash flow of $1.2B (fiscal 2025) would need to grow about 5% a year for the stock to be worth today's price. That is close to what the company has delivered over the last 9 years.
Assumes a 9% discount rate and 3% growth after year 10, on free cash flow (operating cash flow minus capital spending) from PPG Industries's SEC filings. Change any assumption, or model revenue and margins instead, in the Modeling tab, or try your own numbers in the reverse DCF calculator.
Fundamental grade
Five factors scored 1 to 9 from PPG's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from PPG Industries's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $16.8B | $15.6B | $16.2B | $15.8B | $15.9B |
| Net income | $1.4B | $1.0B | $1.3B | $1.1B | $1.6B |
| Free cash flow | $1.2B | $477M | $1.9B | $699M | $1.2B |
| EPS (diluted) | $6.01 | $4.32 | $5.35 | $4.75 | $6.94 |
| Operating margin | 12.9% | 13.1% | 16.5% | — | — |
Where the revenue comes from
Revenue by segments, fiscal 2025.
Superinvestors who own PPG
From each investor's latest 13F filing (what a 13F shows). 7 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Richard Pzena Pzena Investment Management |
Added | $947M | 2.8% | Q2 2026 |
| Jean-Marie Eveillard First Eagle Investment Management |
Added | $790M | 1.3% | Q2 2026 |
| Cliff Asness AQR Capital Management |
Added | $64M | 0.02% | Q2 2026 |
| Joel Greenblatt Gotham Asset Management |
Added | $33M | 0.08% | Q2 2026 |
| Will Nasgovitz Heartland Advisors |
Held | $8M | 0.35% | Q2 2026 |
| Hersh Cohen ClearBridge Investments |
Trimmed | $4M | 0.00% | Q2 2026 |
| Dodge & Cox Dodge & Cox |
Held | $266,838 | 0.0% | Q2 2026 |
Insider buying
Open-market purchases by PPG Industries's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
| Date | Insider | Shares | Price | Value |
|---|---|---|---|---|
| Sep 11, 2026 | Juliane M. Hefel Sr. VP, Ind Coatings & Sp Prod |
3 | $106.89 | $358 |
| Sep 11, 2026 | Juliane M. Hefel Sr. VP, Ind Coatings & Sp Prod |
10 | $104.78 | $1,051 |
| Mar 30, 2026 | Ro Khanna |
0 | $103.78 | — |
| Mar 30, 2026 | Ro Khanna |
0 | $103.78 | — |
| Mar 12, 2026 | Lloyd Doggett |
0 | $100.67 | — |
| Mar 12, 2026 | Lloyd Doggett |
0 | $100.67 | — |
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In the full deep dive
Questions
What growth does PPG Industries's stock price imply?
At a market value of $22.9B, PPG Industries would need its free cash flow to grow about 5% a year for 10 years (discounted at 9%, 3% growth after that) to be worth today's price. Over the last 9 years its free cash flow grew 2% a year.
Are PPG Industries insiders buying the stock?
6 open-market insider purchases of PPG in the last 12 months, from SEC Form 4 filings.
Which superinvestors own PPG Industries?
7 of the superinvestors Investingly tracks hold PPG in their latest 13F, including Richard Pzena, Jean-Marie Eveillard, Cliff Asness.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.