Risk Sleuth
SHW · 10-K filed 19 Feb 2026 · year to 31 Dec 2025

Sherwin-Williams

24 named things its latest annual report says its results depend on, each in the company's own words. 19 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Customers

Consumer Brands Group major retail customers

earns fromnamed as a risk
The Consumer Brands Group had sales to certain customers that, individually, may be a significant portion of the sales and related profitability of the segment.Business (Item 1)

Other companies

Suvinil

approximately $525 millionnamed as a risk
In October 2025, we completed our acquisition of Suvinil, a leading provider of architectural paints in Brazil, with annual sales of approximately $525 million.Risk factors (Item 1A)

Paint Stores Group intersegment sales

earns from · Approximately 63%
Approximately 63% of the total sales of the Consumer Brands Group in 2025 were intersegment transfers of products primarily sold through the Paint Stores Group.Business (Item 1)

U.S. housing market

earns fromnamed as a risk
We expect inflationary pressure to continue to impact consumer and manufacturing customer behavior during 2026, including in the United States housing market as a result of elevated mortgage rates and in global industrial markets as a result of softer demand.Risk factors (Item 1A)

Also named by BAC, FND, HD, POOL, STRL, WY

Lead pigment and lead-based paint litigation

named as a risk
Due to the uncertainties associated with the amount of any such liability and/or the nature of any other remedy which may be imposed in such litigation, any potential liability determined to be attributable to us arising out of such litigation may have a material adverse effect on our results of operations, cash flow, liquidity or financial condition.Risk factors (Item 1A)

Places

International (non-U.S.) markets

earns from · approximately 19.6%named as a risk
Net sales of our consolidated foreign subsidiaries totaled approximately 19.6%, 19.2% and 19.2% of our total consolidated Net sales in 2025, 2024 and 2023, respectively.Risk factors (Item 1A)

Also named by ABNB, ADSK, BSX, CROX, CRWD, DOCU, DXCM, EFX and 18 more

United States

concentrated in · approximately 73%
At December 31, 2025, we employed 64,249 people worldwide, of which approximately 73% were in the United States.Business (Item 1)

Also named by ABBV, ADP, AJG, AMGN, APA, AXGN, AXP, BALL and 139 more

Brazil

operates innamed as a risk
The success of the Suvinil acquisition, and other past and future acquisitions depends in large part on our ability to integrate the operations and personnel of the acquired companies and manage challenges that may arise as a result of the acquisitions, particularly when the acquired businesses operate in new or foreign markets.Risk factors (Item 1A)

Also named by ADM, ASO, AZO, BALL, CPAY, CPRT, CTVA, DE and 32 more

Middle East

depends onnamed as a risk
We purchase raw materials globally from sources around the world, including in the Middle East, Central and South America and other areas that may be less politically stable than other areas.Risk factors (Item 1A)

Also named by BKR, CAG, CINF, CPB, CTAS, FLS, GAIN, J and 10 more

Red Sea

named as a risk
For example, although we do not have significant operations in the region, in the past the conflict between Israel and Hamas has caused disruption, instability and volatility in supply chains and logistics, including shipping disruptions in the Red Sea and surrounding waterways.Risk factors (Item 1A)

Also named by BBY, DDS, DLTR, EQIX, PVH, SGI, TJX

Hazards

Russia-Ukraine conflict

named as a risk
Wars, armed conflicts, political instability, civil disturbances and unrest, terrorist attacks and actions by governments in these areas (such as the ongoing conflict between Russia and Ukraine and any expansion or increase in the severity and intensity of the same) may decrease the supply and increase the price of raw materials that we use for our business, which could have a material adverse effect on our sales, earnings, cash flow or results of operations.Risk factors (Item 1A)

Also named by ABT, ADM, ARWR, CAG, CDRE, DOW, EMN, FDX and 14 more

Commodities and inputs

Argentine peso

exposed to its price · $41.8 millionnamed as a risk
For example, we experienced a loss of $41.8 million in 2023 as a result of the significant devaluation of the Argentine peso in December 2023 as part of economic reforms implemented by the government of Argentina, and we may experience similar losses in the future.Risk factors (Item 1A)

Also named by AES, CTVA, DOW, FLS, MELI, NFLX

Natural gas

exposed to its pricenamed as a risk
Although raw materials and energy supplies (including oil and natural gas) are generally available from various sources in sufficient quantities, unexpected shortages and increases in the cost of raw materials and energy, supplier capacity constraints, or any deterioration in our relationships with, or the financial viability of, our suppliers, may have an adverse effect on our earnings or cash flow.Risk factors (Item 1A)

Also named by AA, ADM, AEE, AEP, AES, AESI, AGX, ALB and 132 more

Euro

exposed to its pricenamed as a risk
Our primary exchange rate exposure is with the euro, the Brazilian real, the Canadian dollar, the Mexican peso, the British pound, the Chinese yuan, the Chilean peso and the Argentine peso, each against the U.S. dollar.Risk factors (Item 1A)

Also named by ABBV, ABNB, ABT, ADBE, ADI, AME, AMG, AMGN and 186 more

Brazilian real

exposed to its pricenamed as a risk
Our primary exchange rate exposure is with the euro, the Brazilian real, the Canadian dollar, the Mexican peso, the British pound, the Chinese yuan, the Chilean peso and the Argentine peso, each against the U.S. dollar.Risk factors (Item 1A)

Also named by AVY, CPAY, CTVA, ECHO, MELI, MOS, NFLX, RHI and 1 more

Ethylene

exposed to its pricenamed as a risk
Following two years of historic inflation, certain raw material and energy prices decreased in 2023 and 2024, and remained flat in 2025, particularly resins and solvents derived from petrochemical feedstock sources such as propylene and ethylene.Risk factors (Item 1A)

Also named by BRK/B, EMN, OLN, SOLS

Propylene

exposed to its pricenamed as a risk
A significant portion of these raw materials are derived from various upstream petrochemical and related commodity feedstocks, notably propylene.Business (Item 1)

Also named by EMN, MAS, OLN

Titanium dioxide

depends onnamed as a risk
We purchase raw materials (including petrochemical-derived resins, latex and solvents, titanium dioxide and various additives) and energy for use in the manufacturing, distribution and sale of our products.Risk factors (Item 1A)

Also named by MAS, PPG

Laws and programs

Foreign Corrupt Practices Act

subject tonamed as a risk
In many foreign countries, it is not uncommon for others to engage in certain business practices we are prohibited from engaging in because of regulations applicable to us, such as the Foreign Corrupt Practices Act and the UK Bribery Act.Risk factors (Item 1A)

Also named by A, ADBE, ADP, AIR, AJG, ALB, AME, AMZN and 112 more

United States-Mexico-Canada Agreement (USMCA)

subject tonamed as a risk
Our business benefits from free trade agreements, including the United States-Mexico-Canada Agreement and EU-UK Trade and Cooperation Agreement.Risk factors (Item 1A)

Also named by AYI, BMI, BWA, CLF, CMI, CP, CW, DCH and 29 more

European Union Corporate Sustainability Reporting Directive

subject tonamed as a risk
For example, the European Union Corporate Sustainability Reporting Directive requires that we make expansive disclosures on various environmental- and social-related topics.Risk factors (Item 1A)

Also named by ALSN, MNST, TKR, WBD

EU-UK Trade and Cooperation Agreement

subject tonamed as a risk
Our business benefits from free trade agreements, including the United States-Mexico-Canada Agreement and EU-UK Trade and Cooperation Agreement.Risk factors (Item 1A)

Also named by ITW, TAP

Environmental remediation sites

subject tonamed as a risk
We are involved with environmental investigation and remediation activities at some of our currently- and formerly-owned sites and a number of third-party sites.Risk factors (Item 1A)

Also named by CTAS

United States-China trade conflict

subject tonamed as a risk
Government actions taken in connection with the United States-China trade conflict have in the past and could in the future impact business, including sales, imports and exports.Risk factors (Item 1A)