PPG Industries (PPG) Investor presentation summary

Strategic positioning and growth drivers

• Maintains leading positions across all major coatings segments globally, with strong brands and a flexible, asset-light cost structure focused on margin expansion and shareholder value creation.

• Strategic investments in differentiated businesses, especially aerospace, drive revenue and profit growth.

• Well-positioned for volume recovery in key markets, with significant presence in emerging regions and strong distribution networks.

• Macro trends such as increased discretionary spending in Europe and multi-year aerospace growth support long-term expansion.

• Focus on innovation, sustainability, and digital solutions enhances competitive advantages and customer engagement.

Financial performance and shareholder returns

• Achieved $15.9B in 2025 net sales, with 2% organic sales growth and a segment EBITDA margin of 19%.

• Returned $1.4B to shareholders in 2025 through dividends and share repurchases, maintaining a 54-year streak of dividend increases.

• Free cash flow yield reached 5%, with $1.9B in operating cash flow and $1.158B in free cash flow.

• Balanced cash deployment between growth investments and shareholder returns, with $2.2B cash balance and 1.9x net debt/EBITDA at year-end 2025.

• Issued $700MM bond in Q4 2025, with a well-laddered debt maturity profile and 2.9% weighted average cost of debt.

Segment and business unit highlights

• Global Architectural Coatings: #1 or #2 in over 15 countries, strong local brands, and advanced water-based, low-carbon products.

• Performance Coatings: Over 75% aftermarket/maintenance, digital technology offerings, and significant value from customer productivity improvements.

• Industrial Coatings: Technology-advantaged, globally specified products with strong technical service and sustainable applications.

• Aerospace: Industry leader in transparencies, sealants, and coatings, benefiting from commercial and military demand recovery.

• Automotive Refinish and OEM: Leading positions in China and India, focus on sustainable products, and growth in films and battery pack coatings.