Axalta Coating Systems Ltd (AXTA) financial statements: income statement, balance sheet and cash flow

Axalta Coating Systems Ltd's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Axalta Coating Systems Ltd reported revenue of $5.1B (-3.0% year on year) and net income of $379.0M (-3.1% year on year).

Income statement

Axalta Coating Systems Ltd income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net sales	$5.1B	$5.3B	$5.2B	$4.9B
Cost of goods sold	$3.4B	$3.5B	$3.6B	$3.5B
Selling, general and administrative expenses	$805.0M	$847.0M	$840.1M	$772.4M
Other operating charges	$53.0M	$79.0M	$28.4M	$31.5M
Research and development expenses	$71.0M	$74.0M	$74.0M	$66.4M
Amortization of acquired intangibles	$98.0M	$92.0M	$88.5M	$125.3M
Income from operations	$735.0M	$706.0M	$587.5M	$423.2M
Interest expense, net	$176.0M	$205.0M	$213.3M	$139.8M
Other expense, net	$13.0M	$5.0M	$19.5M	$26.1M
Income before income taxes	$546.0M	$496.0M	$354.7M	$257.3M
Provision for income taxes	$167.0M	$105.0M	$86.2M	$65.1M
Net income	$379.0M	$391.0M	$268.5M	$192.2M
Less: Net income attributable to noncontrolling interests	$1.0M	$0	$1.1M	$600.0K
Net income attributable to common shareholders	$378.0M	$391.0M	$267.4M	$191.6M
Basic net income per share (in dollars per share)	$1.75	$1.78	$1.21	$0.86
Diluted net income per share (in dollars per share)	$1.74	$1.78	$1.21	$0.86

Axalta Coating Systems Ltd income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Net sales	$1.3B	$1.3B	$1.3B	$1.3B
Cost of goods sold	$881.0M	$838.0M	$838.0M	$848.0M
Selling, general and administrative expenses	$213.0M	$200.0M	$197.0M	$208.0M
Other operating charges	$42.0M	$26.0M	$6.0M	$12.0M
Research and development expenses	$18.0M	$18.0M	$18.0M	$20.0M
Amortization of acquired intangibles	$25.0M	$26.0M	$25.0M	$24.0M
Income from operations	$167.0M	$146.0M	$204.0M	$193.0M
Interest expense, net	$37.0M	$38.0M	$45.0M	$45.0M
Other (income) expense, net	($4.0M)	$3.0M	$4.0M	$5.0M
Income before income taxes	$134.0M	$105.0M	$155.0M	$143.0M
Provision for income taxes	$45.0M	$14.0M	$45.0M	$33.0M
Net income	$89.0M	$91.0M	$110.0M	$110.0M
Less: Net income attributable to noncontrolling interests	$0	$1.0M	$0	$1.0M
Net income attributable to common shareholders	$89.0M	$90.0M	$110.0M	$109.0M
Basic net income per share (in dollars per share)	$0.42	$0.42	$0.51	$0.50
Diluted net income per share (in dollars per share)	$0.41	$0.42	$0.51	$0.50

Balance sheet

Axalta Coating Systems Ltd balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$657.0M	$593.0M	$699.8M	$645.2M
Restricted cash	$3.0M	$3.0M	$3.3M	$9.7M
Accounts and notes receivable, net	$1.2B	$1.2B	$1.3B	$1.1B
Inventories	$756.0M	$734.0M	$741.1M	$829.6M
Prepaid expenses and other current assets	$170.0M	$145.0M	$117.2M	$140.8M
Total current assets	$2.8B	$2.7B	$2.8B	$2.7B
Property, plant and equipment, net	$1.3B	$1.2B	$1.2B	$1.2B
Goodwill	$1.8B	$1.6B	$1.6B	$1.5B
Identifiable intangibles, net	$1.1B	$1.1B	$1.1B	$1.1B
Other assets	$543.0M	$556.0M	$525.9M	$566.0M
Total assets	$7.6B	$7.2B	$7.3B	$7.1B
Accounts payable	$637.0M	$659.0M	$724.9M	$733.5M
Current portion of borrowings	$20.0M	$20.0M	$25.7M	$31.0M
Other accrued liabilities	$712.0M	$675.0M	$676.9M	$620.2M
Total current liabilities	$1.4B	$1.4B	$1.4B	$1.4B
Long-term borrowings	$3.2B	$3.4B	$3.5B	$3.7B
Accrued pensions	$238.0M	$220.0M	$252.0M	$205.1M
Deferred income taxes	$171.0M	$151.0M	$162.3M	$162.1M
Other liabilities	$249.0M	$167.0M	$179.0M	$134.5M
Total liabilities	$5.2B	$5.3B	$5.5B	$5.6B
Common shares, $1.00 par, 1,000.0 shares authorized, 255.1 and 254.5 shares issued at December 31, 2025 and 2024, respectively	255.0M	255.0M	253.7M	252.4M
Capital in excess of par	$1.6B	$1.6B	$1.6B	$1.5B
Retained earnings	$2.1B	$1.7B	$1.3B	$1.0B
Treasury shares, at cost, 41.7 and 36.4 shares at December 31, 2025 and 2024, respectively	-1.2B	-1.0B	—	—
Accumulated other comprehensive loss	($383.0M)	($582.0M)	($444.2M)	($466.9M)
Total Axalta shareholders’ equity	$2.3B	$1.9B	$1.7B	$1.5B
Noncontrolling interests	$47.0M	$44.0M	$45.5M	$46.0M
Total shareholders’ equity	$2.4B	$2.0B	$1.8B	$1.5B
Total liabilities and shareholders’ equity	$7.6B	$7.2B	$7.3B	$7.1B

Axalta Coating Systems Ltd balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and cash equivalents	$633.0M	$608.0M	$606.0M	$625.0M
Restricted cash	$3.0M	$3.0M	$4.0M	$3.0M
Accounts and notes receivable, net	$1.3B	$1.3B	$1.4B	$1.3B
Inventories	$806.0M	$770.0M	$829.0M	$831.0M
Prepaid expenses and other current assets	$203.0M	$185.0M	$199.0M	$180.0M
Total current assets	$3.0B	$2.8B	$3.0B	$3.0B
Property, plant and equipment, net	$1.3B	$1.3B	$1.3B	$1.3B
Goodwill	$1.8B	$1.8B	$1.8B	$1.8B
Identifiable intangibles, net	$1.1B	$1.1B	$1.1B	$1.2B
Other assets	$556.0M	$552.0M	$580.0M	$597.0M
Total assets	$7.7B	$7.6B	$7.8B	$7.8B
Accounts payable	$769.0M	$723.0M	$691.0M	$764.0M
Current portion of borrowings	$519.0M	$20.0M	$20.0M	$20.0M
Other accrued liabilities	$662.0M	$605.0M	$649.0M	$622.0M
Total current liabilities	$1.9B	$1.3B	$1.4B	$1.4B
Long-term borrowings	$2.5B	$3.1B	$3.4B	$3.4B
Accrued pensions	$228.0M	$228.0M	$240.0M	$241.0M
Deferred income taxes	$197.0M	$175.0M	$164.0M	$163.0M
Other liabilities	$206.0M	$213.0M	$289.0M	$265.0M
Total liabilities	$5.1B	$5.1B	$5.4B	$5.5B
Common shares, $1.00 par, 1,000.0 shares authorized, 255.7 and 255.1 shares issued at June 30, 2026 and December 31, 2025, respectively	256.0M	256.0M	255.0M	255.0M
Capital in excess of par	$1.6B	$1.6B	$1.6B	$1.6B
Retained earnings	$2.2B	$2.1B	$2.0B	$1.9B
Treasury shares, at cost, 41.7 shares at both June 30, 2026 and December 31, 2025	-1.2B	-1.2B	-1.2B	-1.1B
Accumulated other comprehensive loss	($395.0M)	($399.0M)	($384.0M)	($383.0M)
Total Axalta shareholders’ equity	$2.5B	$2.4B	$2.3B	$2.3B
Noncontrolling interests	$47.0M	$46.0M	$46.0M	$46.0M
Total shareholders’ equity	$2.6B	$2.5B	$2.3B	$2.3B
Total liabilities and shareholders’ equity	$7.7B	$7.6B	$7.8B	$7.8B

Cash flow statement

Axalta Coating Systems Ltd cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income	$379.0M	$391.0M	$268.5M	$192.2M
Depreciation and amortization	$295.0M	$280.0M	$275.6M	$303.1M
Amortization of deferred financing costs and original issue discount	$8.0M	$7.0M	$8.5M	$9.6M
Debt extinguishment and refinancing-related costs	$2.0M	$5.0M	$9.9M	$14.7M
Deferred income taxes	$45.0M	($17.0M)	($8.4M)	($3.4M)
Realized and unrealized foreign exchange losses, net	$31.0M	$11.0M	$21.4M	$15.5M
Stock-based compensation	$25.0M	$28.0M	$26.2M	$22.2M
Impairment charges	$1.0M	$0	$15.3M	—
Interest income on swaps designated as net investment hedges	($13.0M)	($15.0M)	($9.6M)	($19.9M)
Other non-cash, net	$3.0M	$9.0M	$21.7M	$7.7M
Trade accounts and notes receivable	$97.0M	($7.0M)	($119.0M)	($171.0M)
Inventories	$33.0M	$12.0M	$103.1M	($195.4M)
Prepaid expenses and other assets	($129.0M)	($130.0M)	($70.7M)	($80.5M)
Accounts payable	($77.0M)	($49.0M)	$9.4M	$138.0M
Other accrued liabilities	($64.0M)	$36.0M	$29.3M	$44.7M
Other liabilities	$13.0M	$15.0M	($5.6M)	($7.2M)
Cash provided by operating activities	$649.0M	$576.0M	$575.3M	$293.8M
Acquisitions, net of cash acquired	($48.0M)	($301.0M)	($106.3M)	($3.0M)
Purchase of property, plant and equipment	($196.0M)	($140.0M)	($137.9M)	($150.9M)
Interest proceeds on swaps designated as net investment hedges	$13.0M	$15.0M	$9.6M	$19.9M
Settlement proceeds on swaps designated as net investment hedges	$0	$0	$29.4M	$25.0M
Payments for loans to customers	($10.0M)	($22.0M)	—	—
Other investing activities, net	$29.0M	$8.0M	($800.0K)	($1.1M)
Cash used for investing activities	($212.0M)	($440.0M)	($205.7M)	($106.4M)
Proceeds from short-term borrowings	$0	$0	$8.8M	—
Proceeds from long-term borrowings	$0	$333.0M	$697.4M	$2.0B
Payments on short-term borrowings	$0	($5.0M)	($49.8M)	($91.1M)
Payments on long-term borrowings	($230.0M)	($420.0M)	($904.3M)	($2.0B)
Financing-related costs	($1.0M)	($6.0M)	($16.6M)	($15.2M)
Net cash flows associated with stock-based awards	($3.0M)	$4.0M	$7.5M	($300.0K)
Purchases of common stock	($165.0M)	($100.0M)	($50.0M)	($200.1M)
Deferred acquisition-related consideration	($1.0M)	($6.0M)	($7.7M)	—
Other financing activities, net	($1.0M)	($1.0M)	($300.0K)	($100.0K)
Cash used for financing activities	($401.0M)	($201.0M)	($315.0M)	($368.9M)
Increase (decrease) in cash and cash equivalents	$36.0M	($65.0M)	$54.6M	($181.5M)
Effect of exchange rate changes on cash	$28.0M	($42.0M)	($6.4M)	($14.8M)
Cash at beginning of period	$596.0M	$703.0M	$654.9M	$851.2M
Cash and cash equivalents	$657.0M	$593.0M	$699.8M	$645.2M
Restricted cash	$3.0M	$3.0M	$3.3M	$9.7M
Cash at end of period	$660.0M	$596.0M	$703.1M	$654.9M
Interest, net of amounts capitalized	$172.0M	$198.0M	$212.5M	$126.8M
Income taxes, net of refunds	$107.0M	$131.0M	$96.7M	$63.0M
Accrued capital expenditures	$26.0M	$18.0M	$12.8M	$32.4M

Axalta Coating Systems Ltd cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income	$180.0M	$91.0M	$319.0M	$209.0M
Depreciation and amortization	$152.0M	$76.0M	$218.0M	$144.0M
Amortization of deferred financing costs and original issue discount	$4.0M	$2.0M	$6.0M	$4.0M
Deferred income taxes	$25.0M	$11.0M	$28.0M	$11.0M
Realized and unrealized foreign exchange (gains) losses, net	($5.0M)	($4.0M)	$31.0M	$29.0M
Stock-based compensation	$15.0M	$7.0M	$19.0M	$13.0M
Interest income on swaps designated as net investment hedges	($6.0M)	($3.0M)	($9.0M)	($7.0M)
Other non-cash, net	$3.0M	$2.0M	$8.0M	$6.0M
Trade accounts and notes receivable	($109.0M)	($32.0M)	($48.0M)	($47.0M)
Inventories	($53.0M)	($20.0M)	($53.0M)	($56.0M)
Prepaid expenses and other assets	($58.0M)	($27.0M)	($132.0M)	($89.0M)
Accounts payable	$139.0M	$90.0M	($15.0M)	$65.0M
Other accrued liabilities	($40.0M)	($96.0M)	($71.0M)	($111.0M)
Other liabilities	($27.0M)	($29.0M)	$4.0M	($3.0M)
Cash provided by operating activities	$220.0M	$68.0M	$305.0M	$168.0M
Acquisitions, net of cash acquired	($8.0M)	($8.0M)	($6.0M)	($6.0M)
Purchase of property, plant and equipment	($98.0M)	($50.0M)	($138.0M)	($88.0M)
Interest proceeds on swaps designated as net investment hedges	$6.0M	$3.0M	$9.0M	$7.0M
Proceeds received on loans to customers	$5.0M	$4.0M	—	—
Other investing activities, net	($2.0M)	($2.0M)	$16.0M	$4.0M
Cash used for investing activities	($97.0M)	($53.0M)	($122.0M)	($83.0M)
Payments on long-term borrowings	($135.0M)	($55.0M)	($25.0M)	($10.0M)
Purchases of common stock	$0	—	($165.0M)	($65.0M)
Net cash flows associated with stock-based awards	($6.0M)	($6.0M)	($3.0M)	($2.0M)
Other financing activities, net	($2.0M)	$0	($2.0M)	($1.0M)
Cash used for financing activities	($143.0M)	($61.0M)	($195.0M)	($78.0M)
(Decrease) increase in cash	($20.0M)	($46.0M)	($12.0M)	$7.0M
Effect of exchange rate changes on cash	($4.0M)	($3.0M)	$26.0M	$25.0M
Cash at beginning of period	$660.0M	$660.0M	$596.0M	$596.0M
Cash and cash equivalents	$633.0M	$608.0M	$606.0M	$625.0M
Restricted cash	$3.0M	$3.0M	$4.0M	$3.0M
Cash at end of period	$636.0M	$611.0M	$610.0M	$628.0M

Axalta Coating Systems Ltd score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.