Axalta Coating Systems Ltd.

Listed Company

AXTACIK 0001616862NYSELarge AcceleratedPaints, Varnishes, Lacquers, Enamels & Allied ProdsD0FY ends Dec 31

Period

FY 2025

Revenue

$5.12B

Net Income

$378.00M

Total Assets

$7.60B

Equity

$2.35B

Shares Out

214.02M

Op. Cash Flow

$649.00M

Business

Axalta Coating Systems Ltd. is a global manufacturer, marketer and distributor of high-performance coatings systems and related technologies. It offers liquid and powder coatings, color-matching tools, mixing equipment, application systems and technical services for automotive refinish, industrial and OEM mobility applications. The company operates through two reporting segments, Performance Coatings and Mobility Coatings, serving refinish and industrial end-markets and light vehicle and commercial vehicle OEMs. Axalta sells worldwide through a broad direct sales and technical support organization, independent local distributors, company-owned stores and direct OEM supply to assembly plants.

Summary from filing dated 2025-02-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	5,117	5,276	5,184	4,884	4,416
Cost of goods sold	3,355	3,478	3,566	3,466	2,987
Selling, general and administrative expenses	805	847	840	772	739
Other operating charges	53	79	28	32	44
Research and development expenses	71	74	74	66	62
Amortization of acquired intangibles	98	92	88	125	121
Income from operations	735	706	588	423	462
Interest expense, net	176	205	213	140	—
Other expense, net	13	5	20	26	−12
Income before income taxes	546	496	355	257	341
Provision for income taxes	167	105	86	65	76
Net income	379	391	269	192	264
Less: Net income attributable to noncontrolling interests	1	0	2	0	500,000
Net income attributable to common shareholders	378	391	267	192	264
Basic net income per share (in dollars per share)	1.75	1.78	1.21	0.86	1.14
Diluted net income per share (in dollars per share)	1.74	1.78	1.21	0.86	1.14

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	657	593	700	645	841
Restricted cash	3	3	3	10	11
Accounts and notes receivable, net	1,229	1,248	1,260	1,067	938
Inventories	756	734	741	830	670
Prepaid expenses and other current assets	170	145	117	141	117
Total current assets	2,815	2,723	2,821	2,693	2,576
Property, plant and equipment, net	1,299	1,181	1,204	1,190	1,186
Goodwill	1,795	1,640	1,591	1,498	1,593
Identifiable intangibles, net	1,147	1,149	1,130	1,112	1,278
Other assets	543	556	526	566	585
Total assets	7,599	7,249	7,272	7,059	7,217
Accounts payable	637	659	725	734	657
Current portion of borrowings	20	20	26	31	80
Other accrued liabilities	712	675	677	620	598
Total current liabilities	1,369	1,354	1,428	1,385	1,335
Long-term borrowings	3,179	3,401	3,478	3,673	3,750
Accrued pensions	238	220	252	205	269
Deferred income taxes	171	151	162	162	175
Other liabilities	249	167	179	135	150
Total liabilities	5,206	5,293	5,499	5,560	5,679
Commitments and contingent liabilities (Note 5)	—	—	—	—	—
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	255	254	252	252
Capital in excess of par	1,621	1,599	1,568	1,537	1,516
Retained earnings	2,055	1,677	1,286	1,019	827
Treasury shares, at cost, 41.7 and 36.4 shares at December 31, 2025 and 2024, respectively	−1,202	−1,037	−937	—	—
Accumulated other comprehensive loss	−383	−582	−444	−467	−414
Total Axalta shareholders equity	2,346	1,912	1,727	1,454	1,493
Noncontrolling interests	47	44	46	46	46
Total shareholders equity	2,393	1,956	1,773	1,500	1,540
Total liabilities and shareholders equity	7,599	7,249	7,272	7,059	7,217

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	295	280	276	303	317
Amortization of deferred financing costs and original issue discount	8	7	9	10	9
Debt extinguishment and refinancing-related costs	2	5	10	15	—
Deferred income taxes	45	−17	−8	−3	15
Realized and unrealized foreign exchange losses, net	31	11	21	16	10
Stock-based compensation	25	28	26	22	15
Impairment charges	1	0	15	1	800,000
Interest income on swaps designated as net investment hedges	−13	−15	−10	−20	−18
Other non-cash, net	3	9	22	6	11
Trade accounts and notes receivable	97	−7	−119	−171	−81
Inventories	33	12	103	−195	−112
Prepaid expenses and other assets	−129	−130	−71	−81	−45
Accounts payable	−77	−49	9	138	140
Other accrued liabilities	−64	36	29	45	66
Other liabilities	13	15	−6	−7	−14
Cash provided by operating activities	649	576	575	294	559
Acquisitions, net of cash acquired	−48	−301	−106	−3	−649
Purchase of property, plant and equipment	−196	−140	−138	−151	−122
Interest proceeds on swaps designated as net investment hedges	13	15	10	20	18
Settlement proceeds on swaps designated as net investment hedges	0	0	29	25	0
Payments for loans to customers	−10	−22	−3	−4	—
Other investing activities, net	29	8	2	7	−1
Cash used for investing activities	−212	−440	−206	−106	−716
Proceeds from short-term borrowings	0	0	9	0	0
Proceeds from long-term borrowings	0	333	697	1,980	—
Payments on short-term borrowings	0	−5	−50	−91	−74
Payments on long-term borrowings	−230	−420	−904	−2,042	−27
Financing-related costs	−1	−6	−17	−15	—
Net cash flows associated with stock-based awards	−3	—	—	−300,000	—
Net cash flows associated with stock-based awards (shares)	—	4	8	0	14
Purchases of common stock	−165	−100	−50	−200	−244
Deferred acquisition-related consideration	−1	−6	−8	0	−500,000
Other financing activities, net	−1	−1	0	−1	−700,000
Cash used for financing activities	−401	−201	−315	−369	−335
Increase (decrease) in cash and cash equivalents	36	−65	54	−181	−492
Effect of exchange rate changes on cash	28	−42	−6	−15	−21
Interest, net of amounts capitalized	172	198	213	127	118
Income taxes, net of refunds	107	131	97	63	58
Accrued capital expenditures	26	18	13	32	35

Filings

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