AXTANYSEPaints, Varnishes, Lacquers, Enamels & Allied ProdsFiscal year ends December 31
Axalta Coating Systems Ltd.
Financials through Q1 FY2026, quarter ended Mar 31, 2026Last filing: 10-Q on Jul 29, 2026
$33.68+0.24 (+0.72%)
Close on Oct 19, 2026
- Market cap
- $7.23B
- P/E (TTM)
- 19.7
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2013 to 2025
Gross margin
34.4%+0.2 pts over 5 years
Operating margin
14.4%+6.2 pts over 5 years
Net margin
7.4%+4.1 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -3.0% | +1.6% | +6.5% | +2.2% | |
| Gross profit | -2.0% | +7.5% | +6.6% | +1.5% | |
| Operating income | +4.1% | +20.2% | +19.2% | +4.7% | |
| Net income | -3.3% | +25.3% | +25.5% | +15.2% | |
| EPS, diluted | -2.2% | +26.5% | +27.3% | +16.4% | |
| Free cash flow | +3.9% | +46.9% | +1.2% | +5.2% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 3.5% | 8.7% | 17.8% | |
| Return on assets | 0.7% | 1.7% | 5.1% | |
| Current ratio | 2.04 | 2.48 | 2.06 | |
| Debt to equity | 2.90 | 2.72 | 1.36 | |
| Net debt to EBITDA | 3.75× | 4.04× | 2.47× | |
| Interest coverage | 2.3× | 2.0× | 4.2× | |
| Inventory turnover | 4.8× | 4.3× | 4.5× | |
| Capex to revenue | 3.3% | 2.2% | 3.8% | |
| Diluted shares | 244M | 236M | 217M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Axalta Coating Systems generated $2.65B from operations and spent $1.51B on capital expenditure, dividends and share buybacks. 50% of that went back into the business.
Generated
$2.65B
Used
$1.51B
Capital expenditure$746.60M50%Dividends$00%Share buybacks$758.80M50%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin7.4%
×Asset turnover0.69×
×Equity multiplier3.49×
=Return on equity, FY202517.8%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 7.4% | 0.69× | 3.49× | 17.8% |
| FY2024 | 7.4% | 0.73× | 3.99× | 21.5% |
| FY2023 | 5.2% | 0.72× | 4.51× | 16.8% |
| FY2022 | 3.9% | 0.68× | 4.85× | 13.0% |
| FY2021 | 6.0% | 0.61× | 4.91× | 18.0% |
| FY2020 | 3.3% | 0.53× | 5.01× | 8.7% |
| FY2019 | 5.6% | 0.66× | 5.27× | 19.5% |
| FY2018 | 4.4% | 0.70× | 5.44× | 16.7% |
| FY2017 | 0.8% | 0.69× | 5.29× | 3.1% |
| FY2016 | 0.9% | 0.70× | 5.32× | 3.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
7of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$378.00M
- Cash generatingOperating cash flow above zero$649.00M
- Return on assets improvedROA up on the prior year5.4% → 5.2%
- Earnings backed by cashOperating cash flow above net income$649.00M vs $378.00M
- Less leverageLong-term debt to assets fell46.9% → 41.8%
- Better liquidityCurrent ratio rose2.01 → 2.06
- No dilutionShare count did not rise220M → 217M
- Gross margin improvedGross margin up on the prior year34.08% → 34.43%
- More efficientAsset turnover rose0.73 → 0.71