Ppg Industries
Ppg Industries returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 30, 2026 | — | — | — | 19.63% | 7.04% | — |
| FY 2026 Q1 | Mar 31, 2026 | — | — | — | 21.09% | 7.32% | — |
| FY 2025 Q4 | Dec 31, 2025 | — | — | — | 21.4% | 7.59% | — |
| FY 2025 Q3 | Sep 30, 2025 | — | — | — | 12.78% | 4.53% | — |
| FY 2025 Q2 | Jun 30, 2025 | — | — | — | 13.18% | 4.61% | — |
| FY 2025 Q1 | Mar 31, 2025 | — | — | — | 14.65% | 5.06% | — |
| FY 2024 Q4 | Dec 31, 2024 | — | — | — | 15.27% | 5.43% | — |
| FY 2024 Q3 | Sep 30, 2024 | 15.75% | 16.52% | 30.28% | 19.13% | 6.85% | 8.1 pp |
| FY 2024 Q2 | Jun 30, 2024 | — | — | — | — | — | — |
| FY 2024 Q1 | Mar 31, 2024 | — | — | — | — | — | — |
| FY 2023 Q4 | Dec 31, 2023 | 15.65% | 16.4% | 324.81% | 17.61% | 5.99% | 8 pp |
| FY 2023 Q3 | Sep 30, 2023 | 15.89% | 15.75% | 37.88% | 20.57% | 6.69% | 8.2 pp |
| FY 2023 Q1 | Jun 30, 2023 | — | — | — | — | — | — |
| FY 2022 Q4 | Dec 31, 2022 | 12.63% | 12.52% | -21.95% | 15.93% | 4.87% | 4.9 pp |
| FY 2022 Q3 | Sep 30, 2022 | 13.3% | 12.13% | — | 17.48% | 5.02% | 5.6 pp |
| FY 2022 Q2 | Jun 30, 2022 | 12.62% | 11.76% | -489.85% | 17.53% | 4.96% | 4.9 pp |
| FY 2022 Q1 | Mar 31, 2022 | 13.51% | 12.6% | -11.38% | 17.9% | 5.13% | 5.8 pp |
| FY 2021 Q4 | Dec 31, 2021 | 15.74% | 13.87% | 3.14% | 24.03% | 7.04% | 8 pp |
| FY 2021 Q3 | Sep 30, 2021 | 17.64% | 15.97% | 8.66% | 24.65% | 7.09% | 9.9 pp |
| FY 2021 Q2 | Jun 30, 2021 | 18.24% | 17.01% | 13.29% | 27.51% | 7.52% | 10.5 pp |
| FY 2021 Q1 | Mar 31, 2021 | 18.34% | 16.4% | 7.66% | 22.61% | 6.25% | 10.6 pp |
| FY 2020 Q4 | Dec 31, 2020 | 16.88% | 15.03% | -44.82% | 19.3% | 5.68% | 9.2 pp |
| FY 2020 Q3 | Sep 30, 2020 | 17.19% | 15% | — | 20.44% | 5.93% | 9.5 pp |
| FY 2020 Q2 | Jun 30, 2020 | 16.02% | 14.86% | — | 20.26% | 5.56% | 8.3 pp |
| FY 2020 Q1 | Mar 31, 2020 | 18.2% | 17.22% | — | 24.39% | 6.63% | 10.5 pp |
| FY 2019 Q4 | Dec 31, 2019 | 18.04% | 18.19% | 23.56% | 25.08% | 7.37% | 10.3 pp |
| FY 2019 Q3 | Sep 30, 2019 | 18.27% | 16.82% | 36.03% | 23.64% | 6.95% | 10.6 pp |
| FY 2019 Q2 | Jun 30, 2019 | 17.61% | 16.33% | 12.82% | 24.49% | 7.02% | 9.9 pp |
| FY 2019 Q1 | Mar 31, 2019 | 17.55% | 16.08% | 44.34% | 25.74% | 7.56% | 9.9 pp |
| FY 2018 Q4 | Dec 31, 2018 | 18.75% | 17.44% | 7.72% | 26.33% | 8.24% | 11.1 pp |
| FY 2018 Q3 | Sep 30, 2018 | 17.54% | 16.62% | -37.79% | 22.61% | 7.17% | 9.8 pp |
| FY 2018 Q2 | Jun 30, 2018 | 17.54% | 17.64% | -212.89% | 27.79% | 8.65% | 9.8 pp |
| FY 2018 Q1 | Mar 31, 2018 | 17.86% | 17.77% | -20.19% | 30.2% | 9.44% | 10.2 pp |
| FY 2017 Q4 | Dec 31, 2017 | 19.37% | 18.99% | -33.34% | 30.64% | 9.85% | 11.7 pp |
| FY 2017 Q3 | Sep 30, 2017 | 20.57% | 18.53% | — | 32.71% | 10.49% | 12.9 pp |
| FY 2017 Q2 | Jun 30, 2017 | 23.64% | 18.58% | — | 18.13% | 5.81% | 15.9 pp |
| FY 2017 Q1 | Mar 31, 2017 | 20.97% | 19.85% | — | 16.69% | 5.16% | 13.3 pp |
| FY 2016 Q4 | Dec 31, 2016 | 20.85% | 20.12% | — | 17.88% | 5.34% | 13.1 pp |
| FY 2016 Q3 | Sep 30, 2016 | 21.33% | 20.07% | — | 16.7% | 4.97% | 13.6 pp |
| FY 2016 Q2 | Jun 30, 2016 | 19.39% | 19.61% | — | 27.84% | 8.4% | 11.7 pp |
| FY 2016 Q1 | Mar 31, 2016 | 21.05% | 19.41% | — | 27.95% | 8.25% | 13.4 pp |
| FY 2015 Q4 | Dec 31, 2015 | 21.22% | 19.29% | — | 27.67% | 8.11% | 13.5 pp |
| FY 2015 Q3 | Sep 30, 2015 | 24.43% | 19.13% | 14.41% | 20.92% | 6.78% | 16.7 pp |
| FY 2015 Q2 | Jun 30, 2015 | 22.9% | 18.77% | 15.92% | 19.52% | 6.38% | 15.2 pp |
| FY 2015 Q1 | Mar 31, 2015 | 23.32% | 18.21% | 8.18% | 20.99% | 6.74% | 15.6 pp |
| FY 2014 Q4 | Dec 31, 2014 | 22.21% | 18.31% | 8.63% | 41.57% | 12.57% | 14.5 pp |
| FY 2014 Q3 | Sep 30, 2014 | 23.54% | 18.18% | — | 40.12% | 13.48% | 15.8 pp |
| FY 2014 Q2 | Jun 30, 2014 | 22.53% | 18.28% | -9.71% | 37.75% | 12.76% | 14.8 pp |
| FY 2014 Q1 | Mar 31, 2014 | 25.31% | 18.17% | -10.49% | 38.65% | 12.82% | 17.6 pp |
| FY 2013 Q4 | Dec 31, 2013 | 22.49% | 18.92% | — | 71.84% | 20.36% | 14.8 pp |
| FY 2013 Q3 | Sep 30, 2013 | 25.25% | 18.69% | 5.56% | 70.63% | 19.87% | 17.6 pp |
| FY 2013 Q2 | Jun 30, 2013 | 25.31% | 19.6% | 2.57% | 78.02% | 21.48% | 17.6 pp |
| FY 2013 Q1 | Mar 31, 2013 | 27.61% | 20% | 32.55% | 82.62% | 22.1% | 19.9 pp |
| FY 2012 Q4 | Dec 31, 2012 | 25.67% | 20.47% | 9.47% | 25.74% | 6.22% | 18 pp |
| FY 2012 Q3 | Sep 30, 2012 | 26.73% | 19.87% | 47.1% | 24.72% | 6.17% | 19 pp |
| FY 2012 Q2 | Jun 30, 2012 | 25.63% | 19.73% | — | 24.01% | 6% | 17.9 pp |
| FY 2012 Q1 | Mar 31, 2012 | 24.74% | 19.33% | — | 24.93% | 5.88% | 17 pp |
| FY 2011 Q4 | Dec 31, 2011 | 24.99% | 18.4% | — | 31.8% | 7.46% | 17.3 pp |
| FY 2011 Q3 | Sep 30, 2011 | 24.33% | 19.18% | — | 28.77% | 7.56% | 16.6 pp |
| FY 2011 Q2 | Jun 30, 2011 | 22.88% | 18.45% | — | 27.59% | 7.23% | 15.2 pp |
| FY 2011 Q1 | Mar 31, 2011 | 20.82% | 17.34% | — | 26.28% | 6.7% | 13.1 pp |
| FY 2010 Q4 | Dec 31, 2010 | 18.32% | 15.65% | 98.68% | 20.81% | 5.26% | 10.6 pp |
| FY 2010 Q3 | Sep 30, 2010 | — | — | — | 19.05% | 4.92% | — |
| FY 2010 Q2 | Jun 30, 2010 | — | — | — | 18.2% | 4.32% | — |
| FY 2010 Q1 | Mar 31, 2010 | — | — | — | — | — | — |
| FY 2009 Q4 | Dec 31, 2009 | — | — | — | — | — | — |
| FY 2009 Q3 | Sep 30, 2009 | — | — | — | — | — | — |
| FY 2009 Q2 | Jun 30, 2009 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · PPG, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.