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Makes coatings, mainly automotive refinish paint for collision repair shops and industrial/OEM coatings.
Makes coatings, mainly automotive refinish paint for collision repair shops and industrial/OEM coatings.
Sells paint systems, mixed to match each car's color, to collision-repair shops mainly through distributors, and repeat orders follow because shops stay with the system they are trained on and insurers approve. Refinish carries earnings, while factory paint for new vehicles is supplied under agreements with carmakers and moves with vehicle production. It was carved out of DuPont's coatings unit by a private-equity buyer.
Moat: narrow (customer qualification, brand, distribution). Refinish paint qualified into body-shop workflows and insurer-approved processes create switching friction.
Headquarters: Philadelphia, Pennsylvania, US · Founded: 1866 · Employees: 12,300
Size Axalta Coating Systems (AXTA) is a United States Materials company (Industrial Specialties) with a market value of $7.80B, the 904th largest of 3,117 United States companies the cockpit tracks. Shares closed at $36.45 on 6 Nov 2026.
Performance Over six months the shares gained 25.1%, against -6.6% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue grew 0.1% over the last twelve months (peer median +14.5%); the operating margin is 13.7% (peer median 13.2%).
Valuation It trades at 14.0× forward earnings against a peer median of 19.8× (4th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 8% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is +2 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 1.6 points above its cost of capital (9.5% WACC).
Credit Axalta Coating Systems has 2 bonds outstanding ($1.20B), rated BB+ by the agencies and trading like BBB- at a weighted spread of 116 bp.
Short interest Short interest is 4.5% of the free float (15 Oct 2026).
Next results Next results expected around 17 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $5.17B | $5.12B | $5.28B | $5.18B | $4.88B |
| Revenue growth | — | -3% | +2% | +6% | — |
| Gross profit | $1.64B | $1.67B | $1.71B | $1.54B | $1.30B |
| EBITDA | $1.02B | $1.06B | $1.05B | $874M | $754M |
| Net income | $334M | $378M | $391M | $267M | $192M |
| Free cash flow | $496M | $452M | $430M | $421M | $128M |
| Capital expenditure | $202M | $196M | $140M | $138M | $151M |
| Total debt | $3.00B | $3.31B | $3.52B | $3.61B | $3.81B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Axalta Coating Systems AXTA | $7.80B | +25% | 0% | 14% | 14.0× | 8.3% |
| PPG Industries PPG | $27.0B | +12% | +6% | 13% | 14.6× | 7.1% |
| Sherwin-Williams SHW | $83.1B | +9% | +7% | 16% | 26.8× | 14.9% |
| Basf BAS.DE | $52.6B | +2% | -4% | 7% | 16.8× | 5.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AXTA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +11.1% | -3.2% | highest of 21 |
| 6-month return | +25.1% | -6.6% | 2nd highest of 21 |
| Distance from 52-week high | -5.6% | -23.0% | highest of 21 |
| Revenue growth (TTM) | +0.1% | +14.5% | 3rd lowest of 21 |
| Operating margin | 13.7% | 13.2% | 10th highest of 21 |
| Forward P/E | 14.0× | 19.8× | 4th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 8.3% | 12.1% | 5th least demanding of 15 |
| Growth delivered (Del g) | +6.5% | +12.7% | 4th lowest of 15 |
| Hurdle (Req g minus delivered) | +1.8 pp | +3.4 pp | 7th least demanding of 15 |
| ROIC minus cost of capital | +1.6 pp | +1.3 pp | 11th highest of 21 |
| EV / EBITDA | 10.0× | 13.7× | 4th cheapest of 12 |
| Net debt / EBITDA | 2.3× | 1.0× | 3rd most indebted of 12 |
| Bond spread | 116 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Axalta Coating Systems AXTA | United States | $7.80B | +25% | 0% | 14% | 14.0× | 8.3% | +6.5% |
| Srf SRF.NS | India | $7.67B | -11% | +20% | 19% | 30.3× | 25.2% | +13.5% |
| Orica ORI.AX | Australia | $7.23B | +1% | +2% | 11% | 18.2× | 6.9% | +9.6% |
| Sekisui Chemical 4204.T | Japan | $6.61B | +9% | +6% | 9% | 13.4× | n/a | n/a |
| Berger Paints India BERGEPAINT.NS | India | $5.90B | -2% | +5% | 12% | 41.5× | 38.5% | +11.8% |
| Fuchs FPE.DE | Germany | $5.87B | +21% | +12% | 13% | 13.8× | -4.4% | +8.4% |
| Taiwan Glass Industry 1802.TW | Taiwan | $5.08B | -21% | +12% | 12% | 16.7× | n/a | n/a |
| Akzo Nobel AKZA.AS | Netherlands | $12.1B | +26% | -5% | 6% | 16.1× | 10.7% | +3.6% |
| SICC 688234.SS | China | $4.98B | -24% | +20% | -5% | 202.4× | n/a | n/a |
| Sichuan EM Technology 601208.SS | China | $4.88B | -15% | +23% | 7% | 51.1× | 44.5% | +22.5% |
| Sunresin New Materials 300487.SZ | China | $4.77B | -2% | +17% | 36% | 31.2× | 19.0% | +24.7% |
| RPM International RPM | United States | $13.2B | +2% | +6% | 13% | 16.9× | 7.5% | +5.2% |
| CSW Industrials CSW | United States | $4.43B | 0% | +30% | 18% | 20.8× | 13.5% | +20.9% |
| FSPG Hi-Tech 000973.SZ | China | $4.07B | -47% | +205% | 17% | 16.5× | n/a | n/a |
| Beijing Oriental Yuhong Waterproof Technology 002271.SZ | China | $3.92B | -27% | +10% | 1% | 18.8× | 10.6% | +5.0% |
| AZZ AZZ | United States | $3.76B | -15% | +10% | 17% | 16.9× | 9.8% | +14.5% |
| China Jushi 600176.SS | China | $16.6B | -20% | +27% | 34% | 13.5× | 14.6% | +10.1% |
| Pidilite Industries PIDILITIND.NS | India | $17.0B | +9% | +17% | 21% | 56.8× | 40.3% | +14.9% |
| Shanghai Sinyang Semiconductor Materials 300236.SZ | China | $3.58B | -20% | +33% | 15% | 54.8× | n/a | n/a |
| Solar Industries India SOLARINDS.NS | India | $17.8B | +17% | +53% | 25% | 64.6× | n/a | n/a |
| China Hainan Rubber Industry 601118.SS | China | $3.36B | -27% | -37% | -3% | 104.6× | 2.9% | +22.2% |
Axalta Coating Systems has 2 bonds outstanding with $1.20B face value. The agencies rate it BB+; its bonds trade like BBB-. Weighted yield 5.76%, a spread of 116 bp over government bonds.