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Side-by-side financial comparison of PPG Industries (PPG) and Tapestry, Inc. (TPR). Click either name above to swap in a different company.
PPG Industries is the larger business by last-quarter revenue ($3.9B vs $2.5B, roughly 1.6× Tapestry, Inc.). Tapestry, Inc. runs the higher net margin — 22.4% vs 9.8%, a 12.6% gap on every dollar of revenue. On growth, Tapestry, Inc. posted the faster year-over-year revenue change (14.0% vs 6.7%). Over the past eight quarters, Tapestry, Inc.'s revenue compounded faster (29.9% CAGR vs -9.5%).
PPG Industries, Inc. is an American supplier of paints, coatings, and specialty materials based in Pittsburgh, Pennsylvania. It operates in more than 70 countries globally. A member of the Fortune 500, PPG is the second largest coatings company in the world by revenue, behind Sherwin-Williams. It is headquartered in PPG Place, an office and retail complex in downtown Pittsburgh, and is known for its glass facade designed by Postmodern architect Philip Johnson.
Tapestry, Inc. is a leading American multinational luxury fashion holding company. It owns three iconic lifestyle brands: Coach, Kate Spade New York, and Stuart Weitzman, offering premium handbags, apparel, footwear, accessories, and fragrances to global consumers via physical retail stores and e-commerce platforms.
PPG vs TPR — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $3.9B | $2.5B |
| Net Profit | $385.0M | $561.3M |
| Gross Margin | — | 75.5% |
| Operating Margin | — | 28.6% |
| Net Margin | 9.8% | 22.4% |
| Revenue YoY | 6.7% | 14.0% |
| Net Profit YoY | 1.9% | 80.8% |
| EPS (diluted) | — | $2.68 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $3.9B | — | ||
| Q4 25 | $3.9B | $2.5B | ||
| Q3 25 | $4.1B | $1.7B | ||
| Q2 25 | $4.2B | $1.7B | ||
| Q1 25 | $3.7B | $1.6B | ||
| Q4 24 | $2.2B | $2.2B | ||
| Q3 24 | $4.6B | $1.5B | ||
| Q2 24 | $4.8B | $1.6B |
| Q1 26 | $385.0M | — | ||
| Q4 25 | $300.0M | $561.3M | ||
| Q3 25 | $453.0M | $274.8M | ||
| Q2 25 | $450.0M | $-517.1M | ||
| Q1 25 | $373.0M | $203.3M | ||
| Q4 24 | $-280.0M | $310.4M | ||
| Q3 24 | $468.0M | $186.6M | ||
| Q2 24 | $528.0M | $159.3M |
| Q1 26 | — | — | ||
| Q4 25 | 40.8% | 75.5% | ||
| Q3 25 | 40.6% | 76.3% | ||
| Q2 25 | 42.0% | 76.3% | ||
| Q1 25 | 41.9% | 76.1% | ||
| Q4 24 | 34.9% | 74.4% | ||
| Q3 24 | 41.8% | 75.3% | ||
| Q2 24 | 43.0% | 74.9% |
| Q1 26 | — | — | ||
| Q4 25 | 9.9% | 28.6% | ||
| Q3 25 | 16.9% | 19.3% | ||
| Q2 25 | 17.7% | -33.9% | ||
| Q1 25 | 16.5% | 16.0% | ||
| Q4 24 | 0.5% | 22.4% | ||
| Q3 24 | 15.6% | 16.7% | ||
| Q2 24 | 17.3% | 14.8% |
| Q1 26 | 9.8% | — | ||
| Q4 25 | 7.7% | 22.4% | ||
| Q3 25 | 11.1% | 16.1% | ||
| Q2 25 | 10.7% | -30.0% | ||
| Q1 25 | 10.1% | 12.8% | ||
| Q4 24 | -12.9% | 14.1% | ||
| Q3 24 | 10.2% | 12.4% | ||
| Q2 24 | 11.0% | 10.0% |
| Q1 26 | — | — | ||
| Q4 25 | $1.33 | $2.68 | ||
| Q3 25 | $2.00 | $1.28 | ||
| Q2 25 | $1.98 | $-2.30 | ||
| Q1 25 | $1.63 | $0.95 | ||
| Q4 24 | $-1.18 | $1.38 | ||
| Q3 24 | $2.00 | $0.79 | ||
| Q2 24 | $2.24 | $0.67 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.6B | $1.1B |
| Total DebtLower is stronger | $6.4B | $2.4B |
| Stockholders' EquityBook value | — | $551.2M |
| Total Assets | — | $6.5B |
| Debt / EquityLower = less leverage | — | 4.32× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.6B | — | ||
| Q4 25 | $2.2B | $1.1B | ||
| Q3 25 | $1.9B | $743.2M | ||
| Q2 25 | $1.6B | $1.1B | ||
| Q1 25 | $1.9B | $1.1B | ||
| Q4 24 | $1.4B | $1.0B | ||
| Q3 24 | $1.3B | $7.3B | ||
| Q2 24 | $1.2B | $7.2B |
| Q1 26 | $6.4B | — | ||
| Q4 25 | $7.3B | $2.4B | ||
| Q3 25 | $7.3B | $2.4B | ||
| Q2 25 | $7.3B | $2.4B | ||
| Q1 25 | $7.2B | $2.4B | ||
| Q4 24 | $5.8B | $2.4B | ||
| Q3 24 | $6.5B | $7.0B | ||
| Q2 24 | $6.4B | $6.9B |
| Q1 26 | — | — | ||
| Q4 25 | $7.9B | $551.2M | ||
| Q3 25 | $7.8B | $399.5M | ||
| Q2 25 | $7.6B | $857.8M | ||
| Q1 25 | $6.9B | $1.5B | ||
| Q4 24 | $6.8B | $1.3B | ||
| Q3 24 | $7.8B | $3.0B | ||
| Q2 24 | $7.8B | $2.9B |
| Q1 26 | — | — | ||
| Q4 25 | $22.1B | $6.5B | ||
| Q3 25 | $22.1B | $6.4B | ||
| Q2 25 | $22.1B | $6.6B | ||
| Q1 25 | $21.1B | $7.3B | ||
| Q4 24 | $19.4B | $7.3B | ||
| Q3 24 | $21.9B | $13.7B | ||
| Q2 24 | $21.7B | $13.4B |
| Q1 26 | — | — | ||
| Q4 25 | 0.92× | 4.32× | ||
| Q3 25 | 0.94× | 5.95× | ||
| Q2 25 | 0.97× | 2.77× | ||
| Q1 25 | 1.05× | 1.59× | ||
| Q4 24 | 0.86× | 1.78× | ||
| Q3 24 | 0.83× | 2.35× | ||
| Q2 24 | 0.82× | 2.39× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $1.1B |
| Free Cash FlowOCF − Capex | — | $1.0B |
| FCF MarginFCF / Revenue | — | 41.5% |
| Capex IntensityCapex / Revenue | 5.0% | 1.7% |
| Cash ConversionOCF / Net Profit | — | 1.93× |
| TTM Free Cash FlowTrailing 4 quarters | — | $1.6B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $887.0M | $1.1B | ||
| Q3 25 | $685.0M | $112.6M | ||
| Q2 25 | $387.0M | $446.8M | ||
| Q1 25 | $-18.0M | $144.3M | ||
| Q4 24 | $346.0M | $506.0M | ||
| Q3 24 | $769.0M | $119.5M | ||
| Q2 24 | $365.0M | $256.0M |
| Q1 26 | — | — | ||
| Q4 25 | $586.0M | $1.0B | ||
| Q3 25 | $538.0M | $80.2M | ||
| Q2 25 | $266.0M | $411.5M | ||
| Q1 25 | $-227.0M | $113.4M | ||
| Q4 24 | $148.0M | $475.1M | ||
| Q3 24 | $620.0M | $93.9M | ||
| Q2 24 | $247.0M | $209.8M |
| Q1 26 | — | — | ||
| Q4 25 | 15.0% | 41.5% | ||
| Q3 25 | 13.2% | 4.7% | ||
| Q2 25 | 6.3% | 23.9% | ||
| Q1 25 | -6.2% | 7.2% | ||
| Q4 24 | 6.8% | 21.6% | ||
| Q3 24 | 13.6% | 6.2% | ||
| Q2 24 | 5.2% | 13.2% |
| Q1 26 | 5.0% | — | ||
| Q4 25 | 7.7% | 1.7% | ||
| Q3 25 | 3.6% | 1.9% | ||
| Q2 25 | 2.9% | 2.0% | ||
| Q1 25 | 5.7% | 2.0% | ||
| Q4 24 | 9.1% | 1.4% | ||
| Q3 24 | 3.3% | 1.7% | ||
| Q2 24 | 2.5% | 2.9% |
| Q1 26 | — | — | ||
| Q4 25 | 2.96× | 1.93× | ||
| Q3 25 | 1.51× | 0.41× | ||
| Q2 25 | 0.86× | — | ||
| Q1 25 | -0.05× | 0.71× | ||
| Q4 24 | — | 1.63× | ||
| Q3 24 | 1.64× | 0.64× | ||
| Q2 24 | 0.69× | 1.61× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PPG
| Industrial Coatings | $1.6B | 42% |
| Performance Coatings | $1.3B | 34% |
| Global Architectural Coatings | $965.0M | 25% |
TPR
| Coach | $1.4B | 57% |
| Other | $787.0M | 31% |
| Kate Spade Company | $290.0M | 12% |
