Intrinsic value of PPG Industries - PPG

Previous Close

$115.92

  Intrinsic Value

$62.80

stock screener

  Rating & Target

sell

-46%

Previous close

$115.92

 
Intrinsic value

$62.80

 
Up/down potential

-46%

 
Rating

sell

We calculate the intrinsic value of PPG stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 28.1

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  8.60
  8.24
  7.92
  7.62
  7.36
  7.13
  6.91
  6.72
  6.55
  6.39
  6.26
  6.13
  6.02
  5.92
  5.82
  5.74
  5.67
  5.60
  5.54
  5.49
  5.44
  5.39
  5.35
  5.32
  5.29
  5.26
  5.23
  5.21
  5.19
  5.17
Revenue, $m
  16,016
  17,336
  18,708
  20,135
  21,617
  23,158
  24,758
  26,423
  28,153
  29,954
  31,827
  33,778
  35,811
  37,929
  40,138
  42,442
  44,847
  47,359
  49,983
  52,725
  55,592
  58,590
  61,728
  65,011
  68,448
  72,047
  75,817
  79,767
  83,906
  88,243
Variable operating expenses, $m
  15,116
  16,312
  17,556
  18,849
  20,193
  21,589
  23,040
  24,548
  26,117
  27,749
  28,848
  30,617
  32,459
  34,379
  36,381
  38,470
  40,650
  42,926
  45,304
  47,790
  50,389
  53,107
  55,950
  58,926
  62,042
  65,304
  68,721
  72,301
  76,052
  79,984
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  15,116
  16,312
  17,556
  18,849
  20,193
  21,589
  23,040
  24,548
  26,117
  27,749
  28,848
  30,617
  32,459
  34,379
  36,381
  38,470
  40,650
  42,926
  45,304
  47,790
  50,389
  53,107
  55,950
  58,926
  62,042
  65,304
  68,721
  72,301
  76,052
  79,984
Operating income, $m
  900
  1,024
  1,152
  1,286
  1,425
  1,569
  1,719
  1,874
  2,036
  2,205
  2,979
  3,161
  3,352
  3,550
  3,757
  3,972
  4,197
  4,433
  4,678
  4,935
  5,203
  5,484
  5,777
  6,085
  6,406
  6,743
  7,096
  7,466
  7,853
  8,259
EBITDA, $m
  1,828
  1,979
  2,135
  2,298
  2,467
  2,643
  2,826
  3,016
  3,213
  3,419
  3,633
  3,855
  4,087
  4,329
  4,581
  4,844
  5,119
  5,405
  5,705
  6,018
  6,345
  6,687
  7,045
  7,420
  7,812
  8,223
  8,653
  9,104
  9,577
  10,072
Interest expense (income), $m
  118
  224
  275
  328
  383
  440
  500
  562
  626
  693
  763
  835
  910
  989
  1,070
  1,156
  1,244
  1,337
  1,434
  1,535
  1,640
  1,750
  1,866
  1,986
  2,112
  2,244
  2,382
  2,527
  2,679
  2,837
  3,004
Earnings before tax, $m
  676
  749
  825
  903
  984
  1,069
  1,157
  1,248
  1,343
  1,442
  2,144
  2,251
  2,363
  2,480
  2,601
  2,728
  2,861
  2,999
  3,144
  3,295
  3,453
  3,618
  3,791
  3,973
  4,162
  4,361
  4,569
  4,787
  5,016
  5,255
Tax expense, $m
  183
  202
  223
  244
  266
  289
  312
  337
  363
  389
  579
  608
  638
  669
  702
  737
  772
  810
  849
  890
  932
  977
  1,024
  1,073
  1,124
  1,177
  1,234
  1,293
  1,354
  1,419
Net income, $m
  494
  547
  602
  659
  719
  780
  844
  911
  981
  1,053
  1,565
  1,643
  1,725
  1,810
  1,899
  1,991
  2,088
  2,189
  2,295
  2,405
  2,521
  2,641
  2,768
  2,900
  3,038
  3,184
  3,335
  3,495
  3,662
  3,836

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  17,956
  19,435
  20,974
  22,573
  24,234
  25,961
  27,756
  29,622
  31,562
  33,580
  35,681
  37,868
  40,146
  42,521
  44,997
  47,581
  50,277
  53,093
  56,034
  59,108
  62,323
  65,684
  69,201
  72,882
  76,736
  80,771
  84,997
  89,425
  94,065
  98,927
Adjusted assets (=assets-cash), $m
  17,956
  19,435
  20,974
  22,573
  24,234
  25,961
  27,756
  29,622
  31,562
  33,580
  35,681
  37,868
  40,146
  42,521
  44,997
  47,581
  50,277
  53,093
  56,034
  59,108
  62,323
  65,684
  69,201
  72,882
  76,736
  80,771
  84,997
  89,425
  94,065
  98,927
Revenue / Adjusted assets
  0.892
  0.892
  0.892
  0.892
  0.892
  0.892
  0.892
  0.892
  0.892
  0.892
  0.892
  0.892
  0.892
  0.892
  0.892
  0.892
  0.892
  0.892
  0.892
  0.892
  0.892
  0.892
  0.892
  0.892
  0.892
  0.892
  0.892
  0.892
  0.892
  0.892
Average production assets, $m
  6,086
  6,588
  7,109
  7,651
  8,215
  8,800
  9,408
  10,041
  10,698
  11,382
  12,094
  12,836
  13,608
  14,413
  15,252
  16,128
  17,042
  17,996
  18,993
  20,035
  21,125
  22,264
  23,456
  24,704
  26,010
  27,378
  28,811
  30,311
  31,884
  33,532
Working capital, $m
  1,201
  1,300
  1,403
  1,510
  1,621
  1,737
  1,857
  1,982
  2,111
  2,247
  2,387
  2,533
  2,686
  2,845
  3,010
  3,183
  3,364
  3,552
  3,749
  3,954
  4,169
  4,394
  4,630
  4,876
  5,134
  5,404
  5,686
  5,983
  6,293
  6,618
Total debt, $m
  5,087
  6,070
  7,091
  8,153
  9,257
  10,403
  11,595
  12,834
  14,122
  15,462
  16,857
  18,309
  19,822
  21,399
  23,043
  24,759
  26,549
  28,419
  30,372
  32,413
  34,547
  36,779
  39,115
  41,559
  44,117
  46,797
  49,603
  52,543
  55,624
  58,853
Total liabilities, $m
  11,922
  12,905
  13,926
  14,988
  16,092
  17,238
  18,430
  19,669
  20,957
  22,297
  23,692
  25,144
  26,657
  28,234
  29,878
  31,594
  33,384
  35,254
  37,207
  39,248
  41,382
  43,614
  45,950
  48,394
  50,952
  53,632
  56,438
  59,378
  62,459
  65,688
Total equity, $m
  6,033
  6,530
  7,047
  7,584
  8,143
  8,723
  9,326
  9,953
  10,605
  11,283
  11,989
  12,724
  13,489
  14,287
  15,119
  15,987
  16,893
  17,839
  18,828
  19,860
  20,940
  22,070
  23,252
  24,488
  25,783
  27,139
  28,559
  30,047
  31,606
  33,240
Total liabilities and equity, $m
  17,955
  19,435
  20,973
  22,572
  24,235
  25,961
  27,756
  29,622
  31,562
  33,580
  35,681
  37,868
  40,146
  42,521
  44,997
  47,581
  50,277
  53,093
  56,035
  59,108
  62,322
  65,684
  69,202
  72,882
  76,735
  80,771
  84,997
  89,425
  94,065
  98,928
Debt-to-equity ratio
  0.840
  0.930
  1.010
  1.070
  1.140
  1.190
  1.240
  1.290
  1.330
  1.370
  1.410
  1.440
  1.470
  1.500
  1.520
  1.550
  1.570
  1.590
  1.610
  1.630
  1.650
  1.670
  1.680
  1.700
  1.710
  1.720
  1.740
  1.750
  1.760
  1.770
Adjusted equity ratio
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  494
  547
  602
  659
  719
  780
  844
  911
  981
  1,053
  1,565
  1,643
  1,725
  1,810
  1,899
  1,991
  2,088
  2,189
  2,295
  2,405
  2,521
  2,641
  2,768
  2,900
  3,038
  3,184
  3,335
  3,495
  3,662
  3,836
Depreciation, amort., depletion, $m
  928
  955
  983
  1,012
  1,043
  1,074
  1,107
  1,141
  1,177
  1,214
  654
  694
  736
  779
  824
  872
  921
  973
  1,027
  1,083
  1,142
  1,203
  1,268
  1,335
  1,406
  1,480
  1,557
  1,638
  1,723
  1,813
Funds from operations, $m
  1,422
  1,502
  1,585
  1,671
  1,761
  1,855
  1,952
  2,053
  2,158
  2,267
  2,219
  2,337
  2,461
  2,589
  2,723
  2,863
  3,009
  3,162
  3,321
  3,488
  3,662
  3,845
  4,036
  4,235
  4,444
  4,663
  4,893
  5,133
  5,385
  5,649
Change in working capital, $m
  95
  99
  103
  107
  111
  116
  120
  125
  130
  135
  141
  146
  152
  159
  166
  173
  180
  188
  197
  206
  215
  225
  235
  246
  258
  270
  283
  296
  310
  325
Cash from operations, $m
  1,326
  1,403
  1,482
  1,564
  1,650
  1,739
  1,832
  1,928
  2,028
  2,132
  2,078
  2,191
  2,308
  2,430
  2,558
  2,690
  2,829
  2,974
  3,125
  3,282
  3,447
  3,620
  3,800
  3,989
  4,187
  4,393
  4,610
  4,837
  5,075
  5,324
Maintenance CAPEX, $m
  -303
  -329
  -356
  -384
  -414
  -444
  -476
  -509
  -543
  -578
  -615
  -654
  -694
  -736
  -779
  -824
  -872
  -921
  -973
  -1,027
  -1,083
  -1,142
  -1,203
  -1,268
  -1,335
  -1,406
  -1,480
  -1,557
  -1,638
  -1,723
New CAPEX, $m
  -485
  -502
  -521
  -542
  -563
  -585
  -608
  -632
  -658
  -684
  -712
  -741
  -772
  -805
  -839
  -876
  -914
  -954
  -997
  -1,042
  -1,089
  -1,139
  -1,192
  -1,248
  -1,306
  -1,368
  -1,433
  -1,501
  -1,573
  -1,648
Cash from investing activities, $m
  -788
  -831
  -877
  -926
  -977
  -1,029
  -1,084
  -1,141
  -1,201
  -1,262
  -1,327
  -1,395
  -1,466
  -1,541
  -1,618
  -1,700
  -1,786
  -1,875
  -1,970
  -2,069
  -2,172
  -2,281
  -2,395
  -2,516
  -2,641
  -2,774
  -2,913
  -3,058
  -3,211
  -3,371
Free cash flow, $m
  539
  572
  604
  638
  673
  710
  748
  787
  827
  869
  751
  796
  842
  890
  939
  990
  1,043
  1,098
  1,155
  1,214
  1,275
  1,339
  1,405
  1,473
  1,545
  1,620
  1,698
  1,779
  1,863
  1,952
Issuance/(repayment) of debt, $m
  941
  982
  1,022
  1,062
  1,103
  1,147
  1,192
  1,239
  1,288
  1,340
  1,395
  1,452
  1,513
  1,577
  1,644
  1,715
  1,790
  1,870
  1,953
  2,041
  2,134
  2,232
  2,335
  2,444
  2,559
  2,679
  2,806
  2,940
  3,081
  3,229
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  941
  982
  1,022
  1,062
  1,103
  1,147
  1,192
  1,239
  1,288
  1,340
  1,395
  1,452
  1,513
  1,577
  1,644
  1,715
  1,790
  1,870
  1,953
  2,041
  2,134
  2,232
  2,335
  2,444
  2,559
  2,679
  2,806
  2,940
  3,081
  3,229
Total cash flow (excl. dividends), $m
  1,480
  1,555
  1,626
  1,700
  1,777
  1,856
  1,939
  2,026
  2,116
  2,210
  2,146
  2,248
  2,355
  2,467
  2,583
  2,706
  2,834
  2,968
  3,108
  3,255
  3,409
  3,571
  3,740
  3,918
  4,104
  4,299
  4,504
  4,719
  4,944
  5,181
Retained Cash Flow (-), $m
  -476
  -497
  -517
  -537
  -558
  -580
  -603
  -627
  -652
  -678
  -706
  -735
  -766
  -798
  -832
  -868
  -906
  -946
  -988
  -1,033
  -1,080
  -1,130
  -1,182
  -1,237
  -1,295
  -1,356
  -1,420
  -1,488
  -1,559
  -1,634
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  1,004
  1,057
  1,109
  1,163
  1,218
  1,276
  1,336
  1,399
  1,464
  1,531
  1,440
  1,513
  1,589
  1,669
  1,751
  1,838
  1,928
  2,022
  2,120
  2,222
  2,329
  2,441
  2,558
  2,681
  2,809
  2,943
  3,084
  3,231
  3,385
  3,547
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  963
  968
  965
  957
  944
  926
  903
  874
  841
  803
  684
  646
  604
  560
  514
  467
  419
  372
  326
  282
  241
  203
  168
  137
  109
  86
  66
  50
  37
  27
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

PPG Industries, Inc. manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses. The Company's geographical segments include the United States, Canada, Western Europe, Latin America, Central and Eastern Europe, the Middle East, Africa and Asia Pacific. The Company's brands include PPG, GLIDDEN, COMEX, OLYMPIC, DULUX, SIKKENS, PPG PITTSBURGH PAINTS, MULCO, FLOOD, LIQUID NAILS, SICO, CIL, RENNER, TAUBMANS, WHITE KNIGHT, BRISTOL, HOMAX, DEKORAL, TRILAK, GORI, and BONDEX, among others.

FINANCIAL RATIOS  of  PPG Industries (PPG)

Valuation Ratios
P/E Ratio 34
Price to Sales 2
Price to Book 6.2
Price to Tangible Book
Price to Cash Flow 22.5
Price to Free Cash Flow 32.3
Growth Rates
Sales Growth Rate -0.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -15.5%
Cap. Spend. - 3 Yr. Gr. Rate -4%
Financial Strength
Quick Ratio 3
Current Ratio 0.1
LT Debt to Equity 78.5%
Total Debt to Equity 91.5%
Interest Coverage 8
Management Effectiveness
Return On Assets 5.8%
Ret/ On Assets - 3 Yr. Avg. 9.4%
Return On Total Capital 9.5%
Ret/ On T. Cap. - 3 Yr. Avg. 16.2%
Return On Equity 17.9%
Return On Equity - 3 Yr. Avg. 29%
Asset Turnover 0.9
Profitability Ratios
Gross Margin 45.3%
Gross Margin - 3 Yr. Avg. 44.4%
EBITDA Margin 9.5%
EBITDA Margin - 3 Yr. Avg. 13.2%
Operating Margin 5.7%
Oper. Margin - 3 Yr. Avg. 9.1%
Pre-Tax Margin 5.6%
Pre-Tax Margin - 3 Yr. Avg. 8.9%
Net Profit Margin 5.9%
Net Profit Margin - 3 Yr. Avg. 9.9%
Effective Tax Rate 29.1%
Eff/ Tax Rate - 3 Yr. Avg. 23.5%
Payout Ratio 47.2%

PPG stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the PPG stock intrinsic value calculation we used $14748 million for the last fiscal year's total revenue generated by PPG Industries. The default revenue input number comes from 0001 income statement of PPG Industries. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our PPG stock valuation model: a) initial revenue growth rate of 8.6% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for PPG is calculated based on our internal credit rating of PPG Industries, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of PPG Industries.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of PPG stock the variable cost ratio is equal to 94.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for PPG stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for PPG Industries.

Corporate tax rate of 27% is the nominal tax rate for PPG Industries. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the PPG stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for PPG are equal to 38%.

Life of production assets of 18.5 years is the average useful life of capital assets used in PPG Industries operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for PPG is equal to 7.5%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $5557 million for PPG Industries - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 242.018 million for PPG Industries is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of PPG Industries at the current share price and the inputted number of shares is $28.1 billion.

RELATED COMPANIES Price Int.Val. Rating
SHW Sherwin-Willia 477.98 767.14  str.buy
AXTA Axalta Coating 30.35 28.51  hold
RPM RPM Internatio 67.68 49.52  sell
FOE Ferro Corp. 23.50 35.41  str.buy
OC Owens Corning 58.61 77.18  buy
GLW Corning 36.13 11.01  str.sell
MAS Masco 38.61 76.27  str.buy

COMPANY NEWS

▶ [$$] Companies Are Finding More Accounting Flubs   [Sep-20-18 04:19PM  The Wall Street Journal]
▶ PPG Foundation Invests $20,000 in Alabama Organizations   [Aug-24-18 10:32AM  Business Wire]
▶ PPG Foundation Invests $555,000 in Pittsburgh Programs   [Aug-22-18 10:14AM  Business Wire]
▶ A Look At The Fair Value Of PPG Industries Inc (NYSE:PPG)   [Aug-20-18 09:07AM  Simply Wall St.]
▶ Manufacturing jobs growing at fastest rate in 23 years   [Aug-03-18 03:32PM  MarketWatch]
▶ PPG dealing with rising costs, evaluating more price hikes   [Jul-19-18 04:49PM  American City Business Journals]
▶ PPG Industries: 2Q Earnings Snapshot   [07:17AM  Associated Press]
▶ PPG Industries Q2 Earnings Outlook   [04:21PM  Benzinga]
▶ PPG Announces Leadership Appointments   [04:21PM  Business Wire]

CONTACT US       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2018. All rigths reserved.