The Valspar revenue was $4.19 b in FY, 2016 which is a 4.6% year over year decrease from the previous period.

## Founding Date | 1806 |

The Valspar is a subsidiary of Sherwin-Williams

USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 |
---|---|---|---|---|

## Revenue | 4.1b | 4.5b | 4.4b | 4.2b |

| 10% | (3%) | (5%) | |

## Cost of goods sold | 2.7b | 3.0b | 2.8b | 2.7b |

## Gross profit | 1.4b | 1.6b | 1.6b | 1.5b |

| 34% | 35% | 36% | 37% |

## R&D expense | 121.6m | 134.1m | 132.8m | 139.3m |

## General and administrative expense | 727.8m | 832.3m | 810.1m | 867.2m |

## Operating expense total | 849.4m | 966.5m | 942.9m | 1.0b |

## EBIT | 492.4m | 559.9m | 648.0m | 529.0m |

| 12% | 12% | 15% | 13% |

## Interest expense | 64.8m | 65.3m | 81.3m | 90.6m |

## Pre tax profit | 423.8m | 491.9m | 563.8m | 434.5m |

## Income tax expense | 134.5m | 146.5m | 164.3m | 81.5m |

## Net Income | 289.3m | 345.4m | 399.5m | 353.0m |

USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 |
---|---|---|---|---|

## Cash | 216.2m | 128.2m | 186.0m | 174.7m |

## Accounts Receivable | 425.0k | 88.8m | ||

## Inventories | 439.0m | 486.3m | 451.9m | 473.3m |

## Current Assets | 1.6b | 1.6b | 1.6b | 1.6b |

## PP&E | 633.5m | 645.1m | 632.8m | 668.4m |

## Goodwill | 1.1b | 1.1b | 1.3b | 1.3b |

## Total Assets | 4.0b | 4.0b | 4.3b | 4.3b |

## Accounts Payable | 618.8m | 600.9m | 553.7m | 553.2m |

## Short-term debt | 162.5m | 131.0k | 150.1m | |

## Current Liabilities | 1.5b | 1.7b | 1.4b | 1.3b |

## Long-term debt | 1.0b | 950.0m | 1.7b | 1.6b |

## Total Debt | 1.1b | 1.7b | 1.7b | |

## Total Liabilities | 3.2b | |||

## Common Stock | 59.2m | 59.2m | 59.2m | 59.2m |

## Additional Paid-in Capital | 444.6m | 458.4m | 474.0m | 495.9m |

## Retained Earnings | 1.6b | 1.9b | 2.2b | 2.5b |

## Total Equity | 1.1b | 1.0b | 855.0m | 1.1b |

## Debt to Equity Ratio | 1.1 x | 2 x | 1.5 x | |

## Debt to Assets Ratio | 0.3 x | 0.4 x | 0.4 x | |

## Financial Leverage | 3.6 x | 4 x | 5.1 x | 3.9 x |

USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 |
---|---|---|---|---|

## Net Income | 289.3m | 345.4m | 399.5m | 353.0m |

## Depreciation and Amortization | 81.1m | 92.6m | 83.0m | 86.2m |

## Accounts Receivable | (1.9m) | (1.1m) | (1.0m) | |

## Inventories | (2.5m) | 1.5m | (2.0m) | |

## Accounts Payable | 173.0k | (520.0k) | 465.0k | |

## Purchases of PP&E | (116.7m) | (121.3m) | (97.1m) | (120.4m) |

## Cash From Investing Activities | (314.0m) | (112.0m) | (380.0m) | (134.2m) |

## Dividends Paid | (81.2m) | (87.4m) | (96.9m) | (104.6m) |

## Cash From Financing Activities | (108.0m) | (312.7m) | 82.6m | (356.2m) |

## Interest Paid | 90.4m | |||

## Income Taxes Paid | 120.2m |

USD | Q1, 2014 | Q2, 2014 | Q3, 2014 | Q2, 2015 | Q1, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 |
---|---|---|---|---|---|---|---|---|---|---|---|

## Net Income | 53.6m | 139.5m | 237.3m | 90.3m | 104.0m | 297.2m | 52.4m | 132.5m | 249.4m | 40.7m | 116.3m |

## Depreciation and Amortization | 28.1m | 52.6m | 74.3m | 68.1m | 23.0m | 47.7m | 71.2m | 24.0m | 48.0m | ||

## Inventories | 526.4m | 494.4m | 511.2m | 512.6m | 515.2m | 536.5m | 523.6m | 506.6m | 542.1m | ||

## Accounts Payable | 655.9m | 550.4m | 579.0m | 554.5m | 504.6m | 533.7m | 563.1m | 524.6m | 605.6m | ||

## Cash From Operating Activities | 9.3m | (10.7m) | 151.5m | 112.6m | 250.4m | (17.1m) | 54.7m | ||||

## Purchases of PP&E | (21.0m) | (50.6m) | (75.9m) | (60.8m) | (24.1m) | (60.6m) | (89.2m) | (28.7m) | (53.0m) | ||

## Cash From Investing Activities | (15.9m) | (43.8m) | (69.2m) | (348.1m) | (23.1m) | (76.0m) | (103.0m) | (33.6m) | (57.0m) | ||

## Dividends Paid | (22.2m) | (44.2m) | (65.9m) | (73.1m) | (26.1m) | (52.2m) | (78.3m) | (30.2m) | (59.5m) | ||

## Cash From Financing Activities | (14.2m) | (39.2m) | (144.7m) | 470.7m | (28.0m) | (49.6m) | (162.7m) | 37.4m | 166.1m | ||

## Income Taxes Paid | 25.7m | 41.0m | 42.7m | 43.7m | 38.0m |