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Axalta Coating Systems vs Ppg Industries: revenue, profit, margins and growth compared

Axalta Coating Systems brought in $5.1B of revenue in fiscal 2025, Ppg Industries $15.9B in fiscal 2025. Revenue changed by -3.0% at Axalta Coating Systems and +0.2% at Ppg Industries on the year before, so Ppg Industries grew faster. Axalta Coating Systems kept 7.4% of its revenue as net profit, Ppg Industries 9.9%. Free cash flow was $453M at Axalta Coating Systems and $1.2B at Ppg Industries.

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Side by side, latest fiscal year

AXTAPPG
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$5.1B$15.9B
Revenue growth-3.0%+0.2%
Net income$378M$1.6B
Net margin7.4%9.9%
Free cash flow$453M$1.2B
Free cash flow margin8.9%7.3%
Earnings per share (diluted)$1.74$6.94
Cash$657M$2.2B
Debt$3.2B$7.3B
Price to earnings18.915.5
Market value$7B$23.9B
Dividend yieldn/a2.59%
Rank by revenue in sector#199 of 778 · Consumer discretionary#78 of 778 · Consumer discretionary

Over the years

Revenue
AXTA FY2018: $4.7BAXTA FY2019: $4.5BAXTA FY2020: $3.7BAXTA FY2021: $4.4BAXTA FY2022: $4.9BAXTA FY2023: $5.2BAXTA FY2024: $5.3BAXTA FY2025: $5.1BPPG FY2018: $15.4BPPG FY2019: $15.1BPPG FY2020: $13.8BPPG FY2021: $16.8BPPG FY2022: $15.6BPPG FY2023: $16.2BPPG FY2024: $15.8BPPG FY2025: $15.9BFY18FY19FY20FY21FY22FY23FY24FY25
AXTA $5.1BPPG $15.9B
Net income
AXTA FY2018: $207.1MAXTA FY2019: $249MAXTA FY2020: $121.6MAXTA FY2021: $263.9MAXTA FY2022: $192MAXTA FY2023: $267MAXTA FY2024: $391MAXTA FY2025: $378MPPG FY2018: $1.3BPPG FY2019: $1.2BPPG FY2020: $1.1BPPG FY2021: $1.4BPPG FY2022: $1BPPG FY2023: $1.3BPPG FY2024: $1.1BPPG FY2025: $1.6BFY18FY19FY20FY21FY22FY23FY24FY25
AXTA $378MPPG $1.6B
Net margin
AXTA FY2018: 4.4%AXTA FY2019: 5.6%AXTA FY2020: 3.3%AXTA FY2021: 6.0%AXTA FY2022: 3.9%AXTA FY2023: 5.2%AXTA FY2024: 7.4%AXTA FY2025: 7.4%PPG FY2018: 8.7%PPG FY2019: 8.2%PPG FY2020: 7.7%PPG FY2021: 8.6%PPG FY2022: 6.6%PPG FY2023: 7.8%PPG FY2024: 7.0%PPG FY2025: 9.9%FY18FY19FY20FY21FY22FY23FY24FY25
AXTA 7.4%PPG 9.9%
Revenue growth
AXTA FY2019: -4.6%AXTA FY2020: -16.6%AXTA FY2021: +18.2%AXTA FY2022: +10.6%AXTA FY2023: +6.1%AXTA FY2024: +1.8%AXTA FY2025: -3.0%PPG FY2019: -1.5%PPG FY2020: -8.7%PPG FY2021: +21.5%PPG FY2022: -7.1%PPG FY2023: +4.0%PPG FY2024: -2.4%PPG FY2025: +0.2%FY19FY20FY21FY22FY23FY24FY25
AXTA -3.0%PPG +0.2%
Free cash flow
AXTA FY2018: $352.7MAXTA FY2019: $460.6MAXTA FY2020: $427.2MAXTA FY2021: $437MAXTA FY2022: $143MAXTA FY2023: $437MAXTA FY2024: $436MAXTA FY2025: $453MPPG FY2018: $1.1BPPG FY2019: $1.7BPPG FY2020: $1.8BPPG FY2021: $1.2BPPG FY2022: $477MPPG FY2023: $1.9BPPG FY2024: $699MPPG FY2025: $1.2BFY18FY19FY20FY21FY22FY23FY24FY25
AXTA $453MPPG $1.2B

Fiscal years as each company reports them; the two may end in different months.

Questions about Axalta Coating Systems and Ppg Industries

Which is bigger by revenue, Axalta Coating Systems or Ppg Industries?

Ppg Industries is bigger by revenue: $15.9B in fiscal 2025, against $5.1B for Axalta Coating Systems in fiscal 2025.

Which keeps more of its revenue as profit, Axalta Coating Systems or Ppg Industries?

Axalta Coating Systems had a net margin of 7.4% in fiscal 2025; Ppg Industries had 9.9% in fiscal 2025.

Which grew revenue faster, Axalta Coating Systems or Ppg Industries?

In their latest fiscal years revenue changed by -3.0% at Axalta Coating Systems and +0.2% at Ppg Industries.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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