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PPG INDUSTRIES INC

PPG · Materials · $24.0B mkt cap · FY2025 filings · · Narrow moat ·

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The five investor questions

50

2021–2025 (latest 5 aligned FYs; v3 window cap 5): revenue $16.8B to $15.9B, decreasing; diluted EPS 6.01 to 6.94, increasing.

68

Median gross margin 41.5% over 9y, very stable.

92

Median ROIC 18.1%, above the 12% hurdle in 100% of years.

—

Insufficient leverage/coverage inputs to score the balance sheet.

79

Owner earnings changed +6.0%/yr over up to the ten most recent annual observations.

The balanceSheet component abstained: Insufficient leverage/coverage inputs to score the balance sheet. The other four 20% weights were renormalized over the scored 80%.

Price vs. value if growth stopped today

A cautious baseline, not a price target: what the shares may support if normalized owner earnings simply hold steady.

Above value if growth stopped todayBelow value if growth stopped today
70% above value if growth stopped today
$1.3B
$63.16
$91.54
$107.34
70% above value if growth stopped today

What today’s price assumes: owner earnings growing ~11%/yr over 5 years. The zero-growth estimate assumes owner earnings stay flat (0% growth).

How to read this

We solve for the constant annual change in owner earnings that would make the five-year zero-growth estimate equal today’s price. This keeps the existing model inputs and calculation unchanged; it is an expectations lens, not a forecast.

This zero-growth estimate assumes trailing owner earnings persist — unreliable for declining businesses. The recent FY revenue series does not trigger the three-consecutive-declines flag.

Among the current top-score group, the median current price is 243% above the zero-growth estimate across 49 of the current top 50 companies by Moat Score with both values.

Score records captured Oct 18, 2026.

Exactly which 50 companies?

FTNT, IBEX, META, MEDP, MSFT, GOOG, LULU, ANF, IDXX, TXRH, FHI, QLYS, FFIV, ADBE, LLY, MANH, CPRT, VEEV, RMD, GRMN, PCTY, EAT, UI, SSD, MNST, DOCS, LRCX, MCO, NTAP, NVDA, CORT, SFM, MPTI, ULTA, SN, ROL, CTAS, PAYC, IRMD, DECK, MORN, INTU, JKHY, TPR, LGCY, DAL, GWW, ISRG, MPWR, LOPE

Missing a usable price or zero-growth estimate: ANF.

Model details under moat-index@3.0.0: zero-growth multiple 11.1×, capped-growth comparison at no more than 18×; 9% discount rate; high-end growth 3% (capped at 4%) using min(5y revenue CAGR, 5y diluted-EPS CAGR), clamped to 0%–4%; maintenance capex uses min(capex, D&A); abstain when D&A is unavailable. This is a disclosed model range, not intrinsic value as fact.

20 years of fundamentals

The business, in plain English

PPG INDUSTRIES INC booked $15.9B of revenue in FY2025 in the Materials sector and kept 41.3% of it as gross profit — a solid-margin business by that measure. After every other cost, 9.9% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $12.2B (FY2007) to $15.9B (FY2025) — about 1.5% a year compounded over 18 years.

ROIC is not available for the latest filed year, FY2025. Across the full 15-year measurable filed record, median ROIC was 19.2%. Over the v3 recent window (8 measurable filed years), median ROIC was 18.1%. The Returns on Capital filter above scores it 92/100.

The balance sheet carried $7.3B of total debt in FY2025 against $1.6B of owner earnings — roughly 4.6 years of owner earnings to retire it all.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

FY2006–FY2025 · 20 fiscal years, normalized from PPG’s SEC filings

Sales, as filed$15.9B FY2025
$0$10B2006201320202025
Revenue kept after cost of goods41.3% FY2025
0%20%40%2006201320202025
Standard ROIC or separately labeled Operating ROICStandard ROIC 16.2% FY2023

Exact FY and FY-1 financing invested-capital inputs are required.. Current-year EBIT, tax expense, and non-zero pretax income are required for standard ROIC.

0%10%20%2006201320202025
Cash an owner could take out$1.6B FY2025
$0$2B2006201320202025

The explained ROIC gaps have filed inputs but no meaningful positive invested-capital denominator. Other gaps mean the item is not in the filings for that year. The series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Flagship explainer

How PPG INDUSTRIES INC makes its money

PPG INDUSTRIES INC's filing does not supply enough comparable lines for a truthful flow chart — here's what is filed:

Table alternative
Filed lineValue% of revenueSource
$15.9B100%
  • 10-K · FY 2025Filing detailsAccession 0000079879-26-000046 · filed Feb 19, 2026
Cost of revenue$9.3B59%
  • 10-K · FY 2025Filing detailsAccession 0000079879-26-000046 · filed Feb 19, 2026
$6.6B41%
  • 10-K · FY 2025Filing detailsAccession 0000079879-26-000046 · filed Feb 19, 2026
Income before tax$2.0B13%
  • 10-K · FY 2025Filing detailsAccession 0000079879-26-000046 · filed Feb 19, 2026
Income tax$458M3%
  • 10-K · FY 2025Filing detailsAccession 0000079879-26-000046 · filed Feb 19, 2026
$1.6B10%
  • 10-K · FY 2025Filing detailsAccession 0000079879-26-000046 · filed Feb 19, 2026
Source:
  • 10-K · FY 2025Filing detailsAccession 0000079879-26-000046 · filed Feb 19, 2026
· event Dec 31, 2025 · retrieved Oct 18, 2026 · annual-row source set

Flagship explainer

What PPG INDUSTRIES INC owns — and owes

PPG INDUSTRIES INC's filing tags don't support a full breakdown — here's what is filed:

Table alternative
Filed lineValue% of assetsSource
Total assets$22.1B100%
  • 10-K · FY 2025Filing detailsAccession 0000079879-26-000046 · filed Feb 19, 2026
Cash and equivalents$2.2B10%
  • 10-K · FY 2025Filing detailsAccession 0000079879-26-000046 · filed Feb 19, 2026
$7.3B33%
  • 10-K · FY 2025Filing detailsAccession 0000079879-26-000046 · filed Feb 19, 2026
Stockholders’ equity$7.9B36%
  • 10-K · FY 2025Filing detailsAccession 0000079879-26-000046 · filed Feb 19, 2026
Source:
  • 10-K · FY 2025Filing detailsAccession 0000079879-26-000046 · filed Feb 19, 2026
· event Dec 31, 2025 · retrieved Oct 18, 2026 · annual-row source set

Flagship explainer

What drives PPG INDUSTRIES INC’s return on equity?

One or more filed inputs needed for the five-factor decomposition are unavailable.

DuPont source inputs
InputValueFiscal yearSource
Net income$1.6BFY2025
  • 10-K · FY 2025Filing detailsAccession 0000079879-26-000046 · filed Feb 19, 2026
Income before tax$2.0BFY2025
  • 10-K · FY 2025Filing detailsAccession 0000079879-26-000046 · filed Feb 19, 2026
Operating incomeUnavailableFY2025
  • 10-K · FY 2025Filing detailsAccession 0000079879-26-000046 · filed Feb 19, 2026
Revenue$15.9BFY2025
  • 10-K · FY 2025Filing detailsAccession 0000079879-26-000046 · filed Feb 19, 2026
Ending assets$22.1BFY2025
  • 10-K · FY 2025Filing detailsAccession 0000079879-26-000046 · filed Feb 19, 2026
Beginning assets$19.4BFY2024
  • 10-K · FY 2024Filing detailsAccession 0000079879-26-000046 · filed Feb 19, 2026
Ending equity$7.9BFY2025
  • 10-K · FY 2025Filing detailsAccession 0000079879-26-000046 · filed Feb 19, 2026
Beginning equity$6.8BFY2024
  • 10-K · FY 2024Filing detailsAccession 0000079879-26-000046 · filed Feb 19, 2026
Source: · event Dec 31, 2025 · retrieved Oct 18, 2026 · annual-row source set

Flagship explainer

Where PPG INDUSTRIES INC's cash went

PPG INDUSTRIES INC’s filing does not supply enough provenance-matched cash-flow lines for a truthful flow chart — here’s what is filed:

Table alternative
Filed lineValue% of cash from operationsSource
Cash from operations$1.9B100%
  • 10-K · FY 2025Filing detailsAccession 0000079879-26-000046 · filed Feb 19, 2026
Depreciation and amortization$528M27%
  • 10-K · FY 2025Filing detailsAccession 0000079879-26-000046 · filed Feb 19, 2026
Source:
  • 10-K · FY 2025Filing detailsAccession 0000079879-26-000046 · filed Feb 19, 2026
· event Dec 31, 2025 · retrieved Oct 18, 2026 · annual-row source set

Curated 19-manager tier

Who reported holding PPG INDUSTRIES INC

Delayed public 13F reports for 2026-Q2—not live positions, trades, or recommendations.

2 holding0 exited16 not holding18/19 resolved1 not retrieved

Named manager positions and quarter-over-quarter changes
ManagerReported positionQuarter-over-quarterFiling accession
Dodge & Cox2,200 shares$266838 · 0% of eligible reported 13FUnchanged · 0 shares (0%)
First Eagle13,019,648 shares$1.6B · 1% of eligible reported 13FAdded to position · +6,584,572 shares (102%)
Abrams CapitalNo position reportedNo position reported
Akre CapitalNo position reportedNo position reported
Baupost GroupNo position reportedNo position reported
Berkshire HathawayNo position reportedNo position reported
Brave Warrior AdvisorsNo position reportedNo position reported
FundsmithNo position reportedNo position reported
Gardner Russo & QuinnNo position reportedNo position reported
Gates Foundation TrustNo position reportedNo position reported
Mairs & PowerNo position reportedNo position reported
Markel / Markel-GaynerNo position reportedNo position reported
Oakmark / Harris AssociatesNo position reportedNo position reported
Polen CapitalNo position reportedNo position reported
Sequoia / Ruane CunniffNo position reportedNo position reported
Southeastern Asset ManagementNo position reportedNo position reported
Tweedy, BrowneNo position reportedNo position reported
Yacktman Asset ManagementNo position reportedNo position reported
Pershing SquareNot retrievedComparison not retrievedFiling not retrieved

Position size uses shares and filed value from each manager’s 13F. Portfolio weight uses the eligible long-share filing denominator. Changes compare only with the immediately preceding calendar quarter.

Source:
37 SEC filings
  1. 13F-HR · Q1 2026Filing detailsAccession 0000813917-26-000038 · filed May 15, 2026
  2. 13F-HR · Q2 2026Filing detailsAccession 0000813917-26-000042 · filed Aug 14, 2026
  3. 13F-HR · Q1 2026Filing detailsAccession 0000860643-26-000003 · filed May 13, 2026
  4. 13F-HR · Q2 2026Filing detailsAccession 0000860643-26-000005 · filed Aug 13, 2026
  5. 13F-HR · Q1 2026Filing detailsAccession 0000905567-26-000002 · filed May 1, 2026
  6. 13F-HR · Q2 2026Filing detailsAccession 0000905567-26-000003 · filed Aug 11, 2026
  7. 13F-HR · Q1 2026Filing detailsAccession 0000919574-26-003132 · filed May 15, 2026
  8. 13F-HR · Q2 2026Filing detailsAccession 0000919574-26-005176 · filed Aug 14, 2026
  9. 13F-HR · Q1 2026Filing detailsAccession 0001061768-26-000007 · filed May 14, 2026
  10. 13F-HR · Q2 2026Filing detailsAccession 0001061768-26-000010 · filed Aug 13, 2026
  11. 13F-HR · Q1 2026Filing detailsAccession 0001096343-26-000044 · filed May 1, 2026
  12. 13F-HR · Q2 2026Filing detailsAccession 0001096343-26-000065 · filed Jul 31, 2026
  13. 13F-HR · Q1 2026Filing detailsAccession 0001104659-26-062592 · filed May 15, 2026
  14. 13F-HR · Q2 2026Filing detailsAccession 0001104659-26-097175 · filed Aug 14, 2026
  15. 13F-HR · Q1 2026Filing detailsAccession 0001112520-26-000009 · filed May 14, 2026
  16. 13F-HR · Q2 2026Filing detailsAccession 0001112520-26-000014 · filed Aug 14, 2026
  17. 13F-HR · Q1 2026Filing detailsAccession 0001172661-26-001819 · filed May 14, 2026
  18. 13F-HR · Q1 2026Filing detailsAccession 0001172661-26-001911 · filed May 14, 2026
  19. 13F-HR · Q1 2026Filing detailsAccession 0001172661-26-001966 · filed May 14, 2026
  20. 13F-HR · Q1 2026Filing detailsAccession 0001172661-26-002294 · filed May 15, 2026
  21. 13F-HR · Q2 2026Filing detailsAccession 0001172661-26-003035 · filed Aug 4, 2026
  22. 13F-HR · Q2 2026Filing detailsAccession 0001172661-26-003402 · filed Aug 13, 2026
  23. 13F-HR · Q2 2026Filing detailsAccession 0001172661-26-003496 · filed Aug 14, 2026
  24. 13F-HR · Q2 2026Filing detailsAccession 0001172661-26-003728 · filed Aug 14, 2026
  25. 13F-HR · Q1 2026Filing detailsAccession 0001193125-26-208439 · filed May 6, 2026
  26. 13F-HR · Q1 2026Filing detailsAccession 0001193125-26-223352 · filed May 14, 2026
  27. 13F-HR · Q1 2026Filing detailsAccession 0001193125-26-226661 · filed May 15, 2026
  28. 13F-HR · Q2 2026Filing detailsAccession 0001193125-26-340443 · filed Aug 7, 2026
  29. 13F-HR · Q2 2026Filing detailsAccession 0001193125-26-349535 · filed Aug 13, 2026
  30. 13F-HR · Q2 2026Filing detailsAccession 0001193125-26-352200 · filed Aug 14, 2026
  31. 13F-HR/A · Q1 2026 · Amendment RESTATEMENTFiling detailsAccession 0001325447-26-000018 · filed May 14, 2026
  32. 13F-HR · Q2 2026Filing detailsAccession 0001325447-26-000020 · filed Aug 5, 2026
  33. 13F-HR/A · Q2 2026 · Amendment NEW HOLDINGSFiling detailsAccession 0001325447-26-000033 · filed Aug 24, 2026
  34. 13F-HR · Q1 2026Filing detailsAccession 0001398344-26-009296 · filed May 15, 2026
  35. 13F-HR · Q2 2026Filing detailsAccession 0001398344-26-014641 · filed Aug 14, 2026
  36. 13F-HR · Q1 2026Filing detailsAccession 0001569205-26-000005 · filed May 15, 2026
  37. 13F-HR · Q2 2026Filing detailsAccession 0001569205-26-000012 · filed Aug 14, 2026
· event Jun 30, 2026 · retrieved Oct 18, 2026

Flagship explainer

What PPG INDUSTRIES INC insiders reported

Records still being gathered — partial as of retrieval Oct 19, 2026.

Partial coverage: the incomplete Form 4 walk cannot establish no activity, an activity date, or zero counts.

Moat Score history

31 logged readings since Jul 17, 2026 · append-only, never rewritten

Moat Score over timeLast scored reading of each day, on the 0–100 scale72.0 / 100
0406080100WideNarrowShallowNo moatJul 20, 2026Oct 18, 2026

Breaks in the line mark methodology or normalizer upgrades — readings across versions aren’t compared, so a level shift there isn’t a change in the business.

Tier changesSame-methodology and same-normalizer crossings of the Wide / Narrow / Shallow bars

  1. Normalizer upgraded unstamped (version unknown)moat-xbrl-normalizer@1.1.0 — readings across versions aren’t comparedJul 26, 2026
  2. Methodology upgraded moat-index@2.0.0moat-index@3.0.0 — readings across versions aren’t comparedJul 23, 2026
  3. Methodology upgraded moat-index@1.2.0moat-index@2.0.0 — readings across versions aren’t comparedJul 20, 2026

Scores are logged append-only and never overwritten — this record cannot be reconstructed retroactively, which is exactly why it’s worth keeping.

Insider activity

Form 4 reports mix P/S market or private transactions with compensation-plan mechanics. Activity casually described as “insider selling” can include compensation mechanics; awards, tax withholding, and option exercises are shown by their exact filed class here, never collapsed into “Bought” or “Sold.”

These are disclosed filing facts and arithmetic aggregates, not a signal or verdict.

This machine-readable surface covers SEC ownership filings from 2003; it does not represent earlier paper-era records.

Records still being gathered — partial as of retrieval Oct 19, 2026.

421 filings were skipped because the SEC primary document returned 404; the omission is disclosed and aggregates are withheld.

Among the rows shown, A/F/M acquisition, payment or withholding, and exercise or conversion rows outnumber S sale rows (60 versus 0). The filing codes alone do not establish that every such row arose from a compensation plan.

Trailing-12-month totals and the 90-day cluster result are withheld because this issuer walk is incomplete.

InsiderShares owned afterDateFiling detail
Massy Robert L.Sr. VP and Chief HR OfficerGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units15.6163$107.81$1,684222.9068Oct 15, 2026
1 filed lot
  • Table II · Phantom Stock Units: 15.6163 shares at $107.81 · code A · owned after 222.9068 ·
KNAVISH TIMOTHY MDirector, Chairman and CEOGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units29.1145$107.81$3,13912,937.5456Oct 15, 2026
1 filed lot
  • Table II · Phantom Stock Units: 29.1145 shares at $107.81 · code A · owned after 12,937.5456 ·
Hefel Juliane M.Sr. VP, Ind Coatings & Sp ProdGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units1.4042$107.81$1511,431.7738Oct 15, 2026
1 filed lot
  • Table II · Phantom Stock Units: 1.4042 shares at $107.81 · code A · owned after 1,431.7738 ·
Hagerty Chancey E.Sr. VP, Perf Coatings SegmentGrant, award, or other acquisition (A)Table II · Acquired · Phamtom Stock Units16.0389$107.81$1,729303.3991Oct 15, 2026
1 filed lot
  • Table II · Phamtom Stock Units: 16.0389 shares at $107.81 · code A · owned after 303.3991 ·
Braun Kevin D.Sr VP, OperationsGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units17.6345$107.81$1,901995.0372Oct 15, 2026
1 filed lot
  • Table II · Phantom Stock Units: 17.6345 shares at $107.81 · code A · owned after 995.0372 ·
Bellezza AlishaSr. VP, Ind Coatings SegmentGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units16.6143$107.81$1,791186.2099Oct 15, 2026
1 filed lot
  • Table II · Phantom Stock Units: 16.6143 shares at $107.81 · code A · owned after 186.2099 ·
Beggs Jamie A.Senior VP & CFOGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units9.25$107.81$99755.1406Oct 15, 2026
1 filed lot
  • Table II · Phantom Stock Units: 9.25 shares at $107.81 · code A · owned after 55.1406 ·
NOVO GUILLERMODirectorGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units383.3125$104.67$40,12114,014.6501Oct 1, 2026
1 filed lot
  • Table II · Phantom Stock Units: 383.3125 shares at $104.67 · code A · owned after 14,014.6501 ·
Fortmann Kathy LynnDirectorGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units334.8733$104.67$35,0516,083.9676Oct 1, 2026
1 filed lot
  • Table II · Phantom Stock Units: 334.8733 shares at $104.67 · code A · owned after 6,083.9676 ·
Massy Robert L.Sr. VP and Chief HR OfficerGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units16.2218$104.33$1,692207.2905Sep 30, 2026
1 filed lot
  • Table II · Phantom Stock Units: 16.2218 shares at $104.33 · code A · owned after 207.2905 ·
KNAVISH TIMOTHY MDirector, Chairman and CEOGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units35.3953$104.33$3,69312,908.4311Sep 30, 2026
1 filed lot
  • Table II · Phantom Stock Units: 35.3953 shares at $104.33 · code A · owned after 12,908.4311 ·
Hefel Juliane M.Sr. VP, Ind Coatings & Sp ProdGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units2.0395$104.33$2131,430.3696Sep 30, 2026
1 filed lot
  • Table II · Phantom Stock Units: 2.0395 shares at $104.33 · code A · owned after 1,430.3696 ·
Hagerty Chancey E.Sr. VP, Perf Coatings SegmentGrant, award, or other acquisition (A)Table II · Acquired · Phamtom Stock Units16.6716$104.33$1,739287.3602Sep 30, 2026
1 filed lot
  • Table II · Phamtom Stock Units: 16.6716 shares at $104.33 · code A · owned after 287.3602 ·
Braun Kevin D.Sr VP, OperationsGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units25.0137$104.33$2,610977.4027Sep 30, 2026
1 filed lot
  • Table II · Phantom Stock Units: 25.0137 shares at $104.33 · code A · owned after 977.4027 ·
Bellezza AlishaSr. VP, Ind Coatings SegmentGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units0.7267$104.33$76169.5956Sep 30, 2026
1 filed lot
  • Table II · Phantom Stock Units: 0.7267 shares at $104.33 · code A · owned after 169.5956 ·
Beggs Jamie A.Senior VP & CFOGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units45.8906$104.33$4,78845.8906Sep 30, 2026
1 filed lot
  • Table II · Phantom Stock Units: 45.8906 shares at $104.33 · code A · owned after 45.8906 ·
Massy Robert L.Sr. VP and Chief HR OfficerGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units16.1438$104.89$1,693191.0687Sep 15, 2026
1 filed lot
  • Table II · Phantom Stock Units: 16.1438 shares at $104.89 · code A · owned after 191.0687 ·
KNAVISH TIMOTHY MDirector, Chairman and CEOGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units35.8994$104.89$3,76512,873.0358Sep 15, 2026
1 filed lot
  • Table II · Phantom Stock Units: 35.8994 shares at $104.89 · code A · owned after 12,873.0358 ·
Hefel Juliane M.Sr. VP, Ind Coatings & Sp ProdGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units2.1055$104.89$2211,428.3301Sep 15, 2026
1 filed lot
  • Table II · Phantom Stock Units: 2.1055 shares at $104.89 · code A · owned after 1,428.3301 ·
Hagerty Chancey E.Sr. VP, Perf Coatings SegmentGrant, award, or other acquisition (A)Table II · Acquired · Phamtom Stock Units16.6354$104.89$1,745270.6886Sep 15, 2026
1 filed lot
  • Table II · Phamtom Stock Units: 16.6354 shares at $104.89 · code A · owned after 270.6886 ·
Braun Kevin D.Sr VP, OperationsGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units18.574$104.89$1,948952.389Sep 15, 2026
1 filed lot
  • Table II · Phantom Stock Units: 18.574 shares at $104.89 · code A · owned after 952.389 ·
Bellezza AlishaSr. VP, Ind Coatings SegmentGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units0.7319$104.89$77168.8689Sep 15, 2026
1 filed lot
  • Table II · Phantom Stock Units: 0.7319 shares at $104.89 · code A · owned after 168.8689 ·
Hefel Juliane M.Sr. VP, Ind Coatings & Sp ProdOpen-market or private purchase (P)Table I · Acquired · Common Stock13.3824$105.3084$1,409See lot detailSep 11, 2026
2 filed lots
  • Table I · Common Stock: 3.3514 shares at $106.89 · code P · owned after 1,905.2087 ·
  • Table I · Common Stock: 10.031 shares at $104.78 · code P · owned after 1,915.2397 ·
Hefel Juliane M.Sr. VP, Ind Coatings & Sp ProdGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units11.1288$105.50$1,1741,426.2246Sep 11, 2026
1 filed lot
  • Table II · Phantom Stock Units: 11.1288 shares at $105.50 · code A · owned after 1,426.2246 ·
Massy Robert L.Sr. VP and Chief HR OfficerGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units1.3645$105.50$144174.9249Sep 11, 2026
1 filed lot
  • Table II · Phantom Stock Units: 1.3645 shares at $105.50 · code A · owned after 174.9249 ·
KNAVISH TIMOTHY MDirector, Chairman and CEOGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units99.9524$105.50$10,54512,837.1364Sep 11, 2026
1 filed lot
  • Table II · Phantom Stock Units: 99.9524 shares at $105.50 · code A · owned after 12,837.1364 ·
Hagerty Chancey E.Sr. VP, Perf Coatings SegmentGrant, award, or other acquisition (A)Table II · Acquired · Phamtom Stock Units1.7762$105.50$187254.0532Sep 11, 2026
1 filed lot
  • Table II · Phamtom Stock Units: 1.7762 shares at $105.50 · code A · owned after 254.0532 ·
Ericson Amy R.Sr. VP, P&M CoatingsGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units1.9229$105.50$203232.3646Sep 11, 2026
1 filed lot
  • Table II · Phantom Stock Units: 1.9229 shares at $105.50 · code A · owned after 232.3646 ·
Braun Kevin D.Sr VP, OperationsGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units7.1337$105.50$753933.815Sep 11, 2026
1 filed lot
  • Table II · Phantom Stock Units: 7.1337 shares at $105.50 · code A · owned after 933.815 ·
Bellezza AlishaSr. VP, Ind Coatings SegmentGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units1.3071$105.50$138168.137Sep 11, 2026
1 filed lot
  • Table II · Phantom Stock Units: 1.3071 shares at $105.50 · code A · owned after 168.137 ·
Topalian Leon JDirectorGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units22.25$105.50$2,3471,273.0923Sep 11, 2026
1 filed lot
  • Table II · Phantom Stock Units: 22.25 shares at $105.50 · code A · owned after 1,273.0923 ·
Roberts III ChrisDirectorGrant, award, or other acquisition (A)Table II · Acquired · Phamtom Stock Units45.432$105.50$4,7934,074.2679Sep 11, 2026
1 filed lot
  • Table II · Phamtom Stock Units: 45.432 shares at $105.50 · code A · owned after 4,074.2679 ·
NOVO GUILLERMODirectorGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units126.8664$105.50$13,38413,631.3376Sep 11, 2026
1 filed lot
  • Table II · Phantom Stock Units: 126.8664 shares at $105.50 · code A · owned after 13,631.3376 ·
Nally MichaelDirectorGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units98.0881$105.50$10,34810,436.9316Sep 11, 2026
1 filed lot
  • Table II · Phantom Stock Units: 98.0881 shares at $105.50 · code A · owned after 10,436.9316 ·
LIGOCKI KATHLEENDirectorGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units85.6836$105.50$9,0408,938.0276Sep 11, 2026
1 filed lot
  • Table II · Phantom Stock Units: 85.6836 shares at $105.50 · code A · owned after 8,938.0276 ·
LAMACH MICHAEL WDirectorGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units145.5612$105.50$15,35716,173.3187Sep 11, 2026
1 filed lot
  • Table II · Phantom Stock Units: 145.5612 shares at $105.50 · code A · owned after 16,173.3187 ·
Heminger Gary R.DirectorGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units118.7692$105.50$12,53012,935.902Sep 11, 2026
1 filed lot
  • Table II · Phantom Stock Units: 118.7692 shares at $105.50 · code A · owned after 12,935.902 ·
Healey MelanieDirectorGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units61.8017$105.50$6,5206,052.3Sep 11, 2026
1 filed lot
  • Table II · Phantom Stock Units: 61.8017 shares at $105.50 · code A · owned after 6,052.3 ·
Fortmann Kathy LynnDirectorGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units60.2792$105.50$6,3595,749.0943Sep 11, 2026
1 filed lot
  • Table II · Phantom Stock Units: 60.2792 shares at $105.50 · code A · owned after 5,749.0943 ·
Massy Robert L.Sr. VP and Chief HR OfficerGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units0.305$112.17$34173.5604Aug 31, 2026
1 filed lot
  • Table II · Phantom Stock Units: 0.305 shares at $112.17 · code A · owned after 173.5604 ·
KNAVISH TIMOTHY MDirector, Chairman and CEOGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units35.1445$112.17$3,94212,737.184Aug 31, 2026
1 filed lot
  • Table II · Phantom Stock Units: 35.1445 shares at $112.17 · code A · owned after 12,737.184 ·
Hefel Juliane M.Sr. VP, Ind Coatings & Sp ProdGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units2.1444$112.17$2411,415.0958Aug 31, 2026
1 filed lot
  • Table II · Phantom Stock Units: 2.1444 shares at $112.17 · code A · owned after 1,415.0958 ·
Hagerty Chancey E.Sr. VP, Perf Coatings SegmentGrant, award, or other acquisition (A)Table II · Acquired · Phamtom Stock Units15.5649$112.17$1,746252.277Aug 31, 2026
1 filed lot
  • Table II · Phamtom Stock Units: 15.5649 shares at $112.17 · code A · owned after 252.277 ·
Foulkes Anne M.Sr. VP, Legal & Spl. ProjectsGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units17.3672$112.17$1,948870.3884Aug 31, 2026
1 filed lot
  • Table II · Phantom Stock Units: 17.3672 shares at $112.17 · code A · owned after 870.3884 ·
Braun Kevin D.Sr VP, OperationsGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units23.422$112.17$2,627926.6813Aug 31, 2026
1 filed lot
  • Table II · Phantom Stock Units: 23.422 shares at $112.17 · code A · owned after 926.6813 ·
Bellezza AlishaSr. VP, Ind Coatings SegmentGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units0.6425$112.17$72166.8299Aug 31, 2026
1 filed lot
  • Table II · Phantom Stock Units: 0.6425 shares at $112.17 · code A · owned after 166.8299 ·
Beggs Jamie A.Senior VP & CFOGrant, award, or other acquisition (A)Table II · Acquired · Restricted Stock Units28,044—Grant, award, or other acquisition (A)—28,044Aug 14, 2026
1 filed lot
  • Table II · Restricted Stock Units: 28,044 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 28,044 ·
Massy Robert L.Sr. VP and Chief HR OfficerGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units0.1471$114.11$17173.2554Aug 14, 2026
1 filed lot
  • Table II · Phantom Stock Units: 0.1471 shares at $114.11 · code A · owned after 173.2554 ·
KNAVISH TIMOTHY MDirector, Chairman and CEOGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units23.3534$114.11$2,66512,702.0395Aug 14, 2026
1 filed lot
  • Table II · Phantom Stock Units: 23.3534 shares at $114.11 · code A · owned after 12,702.0395 ·
Hefel Juliane M.Sr. VP, Ind Coatings & Sp ProdGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units0.8615$114.11$981,412.9514Aug 14, 2026
1 filed lot
  • Table II · Phantom Stock Units: 0.8615 shares at $114.11 · code A · owned after 1,412.9514 ·
Hagerty Chancey E.Sr. VP, Auto. Refinish Ctgs.Grant, award, or other acquisition (A)Table II · Acquired · Phamtom Stock Units15.1015$114.11$1,723236.7121Aug 14, 2026
1 filed lot
  • Table II · Phamtom Stock Units: 15.1015 shares at $114.11 · code A · owned after 236.7121 ·
Foulkes Anne M.Sr. VP, Legal & Spl. ProjectsGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units16.33$114.11$1,863853.0212Aug 14, 2026
1 filed lot
  • Table II · Phantom Stock Units: 16.33 shares at $114.11 · code A · owned after 853.0212 ·
Braun Kevin D.Sr VP, OperationsGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units0.8364$114.11$95903.2593Aug 14, 2026
1 filed lot
  • Table II · Phantom Stock Units: 0.8364 shares at $114.11 · code A · owned after 903.2593 ·
Bellezza AlishaSr. VP, Automotive CoatingsGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units0.4852$114.11$55166.1874Aug 14, 2026
1 filed lot
  • Table II · Phantom Stock Units: 0.4852 shares at $114.11 · code A · owned after 166.1874 ·
Massy Robert L.Sr. VP and Chief HR OfficerGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units0.3057$110.52$34173.1083Jul 31, 2026
1 filed lot
  • Table II · Phantom Stock Units: 0.3057 shares at $110.52 · code A · owned after 173.1083 ·
KNAVISH TIMOTHY MDirector, Chairman and CEOGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units35.3567$110.52$3,90812,678.6861Jul 31, 2026
1 filed lot
  • Table II · Phantom Stock Units: 35.3567 shares at $110.52 · code A · owned after 12,678.6861 ·
Hefel Juliane M.Sr. VP, Ind Coatings & Sp ProdGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units2.1422$110.52$2371,412.0899Jul 31, 2026
1 filed lot
  • Table II · Phantom Stock Units: 2.1422 shares at $110.52 · code A · owned after 1,412.0899 ·
Hagerty Chancey E.Sr. VP, Auto. Refinish Ctgs.Grant, award, or other acquisition (A)Table II · Acquired · Phamtom Stock Units15.7855$110.52$1,745221.6106Jul 31, 2026
1 filed lot
  • Table II · Phamtom Stock Units: 15.7855 shares at $110.52 · code A · owned after 221.6106 ·
Foulkes Anne M.Sr. VP, Legal & Spl. ProjectsGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units17.5994$110.52$1,945836.6912Jul 31, 2026
1 filed lot
  • Table II · Phantom Stock Units: 17.5994 shares at $110.52 · code A · owned after 836.6912 ·
Braun Kevin D.Sr VP, OperationsGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units7.695$110.52$850902.4229Jul 31, 2026
1 filed lot
  • Table II · Phantom Stock Units: 7.695 shares at $110.52 · code A · owned after 902.4229 ·
Bellezza AlishaSr. VP, Automotive CoatingsGrant, award, or other acquisition (A)Table II · Acquired · Phantom Stock Units0.6478$110.52$72165.7022Jul 31, 2026
1 filed lot
  • Table II · Phantom Stock Units: 0.6478 shares at $110.52 · code A · owned after 165.7022 ·

Source-event as of . Retrieved .

Track record

How PPG INDUSTRIES INC’s moat rated in each of the years we can reconstruct from its filings — scored only on what was knowable at the time — and what its price and returns did afterward. The score never saw a price; the two are joined only in hindsight, for education, not as a signal.

Point-in-time scores 2011–2025, one methodology version · reconstructed from filings on file each Dec 31 — never with hindsight

Point-in-time Moat Score (dot colored by tier)Indexed price (total-return (dividends reinvested))Rated Wide-moat that year

How to read this: each dot is what the engine would have scored PPG on that December 31; the line below is its total-return price path (dividends reinvested) in the years since.

0406080100WideNarrowShallowNo moatPoint-in-time Moat Score100200500Indexed price · log scale (2012 = 100)201120142017202020232026

Two tracks, one timeline: the score has its own 0–100 scale (top), the price its own 100-based scale (bottom) — never a shared axis. The price path is a total-return (dividends reinvested) index built from the same data the forward returns use; gaps in the score line are years with no reconstructed rating (see the table for why). The Table view carries every value.

What followed, in the years it rated Wide

In the 2 years PPG rated Wide-moat (2014 and 2015), the median forward total return that followed — measured only after each year’s filings were public — was:

  • 1 year −7% vs the S&P 500’s 5% (price basis) · median over 2 years
  • 3 years 8% vs the S&P 500’s 28% (price basis) · median over 2 years
  • 5 years 40% vs the S&P 500’s 71% (price basis) · median over 2 years

These are medians computed from the data, not a claim about any one year. The company figures are total returns (dividends reinvested); the S&P 500 is the price-only ^GSPC index, which excludes dividends and so understates the index — the gap flatters the company. A quality rating is not a return forecast, and past returns don’t predict future ones. Educational only, not investment advice.

Materials context

#25 of 310 scored Materials companies, ranked by Moat Score.

Nearest peers by Moat Score

  1. #23SKY Champion Homes, Inc.72.2Narrow moat
  2. #24HAL HALLIBURTON COMPANY72.0Narrow moat
  3. #26RPM RPM International Inc.70.8Narrow moat
  4. #27LIN Linde plc70.2Narrow moat

Compare PPG with its nearest peers →All Materials companies on the Index →

Common questions about PPG

Does PPG INDUSTRIES INC have an economic moat?
Based on its FY2025 SEC filings, the Moat Index scores PPG INDUSTRIES INC (PPG) 72.0 out of 100 — a Narrow moat. The five questions behind that score begin at 20% each; if exactly one genuinely lacks data, the other four weights are renormalized and disclosed. revenue and EPS trend 50, pricing power 68, returns on capital 92, balance-sheet safety not measurable from the filings, capital allocation 79.
Is PPG trading below the conservative owner-earnings estimate?
The value if growth stopped today — a zero-growth baseline — is $63.16 per share. It capitalizes normalized owner earnings at a 9% rate and assumes 0% growth. Versus a recent price of $107.34, that is 70% above value if growth stopped today. The model also publishes a capped-growth comparison, but the zero-growth estimate is the cautious baseline. It assumes trailing owner earnings persist and is unreliable for declining businesses. This is an educational estimate from primary SEC filings, not intrinsic value as a fact or investment advice.
How has PPG's Moat Score changed over time?
The record logs 31 readings since Jul 17, 2026; the latest reads 72.0 out of 100 (narrow moat). No tier changes on record yet. (Methodology or normalizer upgrades on Jul 20, 2026, Jul 23, 2026, Jul 26, 2026 re-based the score; readings across versions aren't compared.) The history is append-only — readings are only ever added, never rewritten.

Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell PPG. See the disclaimer.