Sherwin-Williams develops, manufactures, and sells paint, coatings, and related products. The company serves two broad customer groups: professional contractors and DIY homeowners. The professional contractor is central to the business model — since labor comprises 85-87% of a contractor's total job cost, premium paint that lets crews work faster and reduces touch-ups directly improves contractor profitability, allowing Sherwin-Williams to price at a premium. Sherwin-Williams sells through two primary channels: over 4,850 company-operated specialty paint stores in North America and third-party retailers like Lowe's and Home Depot. The company operates three segments. The Paint Stores Group is the largest and highest-margin segment, running the company-operated store network and serving professional contractors across residential repaint, commercial, and protective and marine end markets. The Consumer Brands Group manufactures paint for third-party retailers and operates the Latin American store network; key brands include Valspar, Dutch Boy, Krylon, and Minwax. The Performance Coatings Group sells industrial coatings globally, with key product lines in packaging, auto refinish, coil, and general industrial. Profitability is driven by volume, price/mix, and raw material costs, which are primarily petrochemical-derived inputs. Sherwin-Williams is investing through a weak demand cycle by adding 80-100 net new stores per year, expanding its sales rep base, and targeting residential repaint share gains. In 2025, Sherwin-Williams acquired Suvinil, a leading architectural coatings brand in Brazil, expanding its Latin America presence.