PPG INDUSTRIES INC vs Westlake Corporation. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Recurring paint-and-coatings demand earns PPG Industries a 19.2% return on equity and a 9.83% net margin. Westlake makes commodity chemicals and building products, and this cycle it lost money, a negative 18.09% return and a negative 14.91% margin as end markets fell. PPG converts to cash at a 4.44% free-cash yield while Westlake burned it at a negative 5.18%. The prices split hard: PPG at 17.58 times earnings and 3.35 times book, Westlake with no earnings multiple and 1.08 times book, near liquidation ground. PPG pays a 2.26% dividend from profit; Westlake pays 2.75% while waiting on a rebound.
Comparison updated 2026-07-11.
| Metric | PPG | WLK |
|---|---|---|
| Price | $116.74 | $75.50 |
| Market cap | $26.2B | $9.7B |
| Sector | Specialty Chemicals | Chemicals |
| Stage | Mature | Mature |
| Implied growth (priced in) | -4.5% | — |
| P/E | 16.6 | — |
| P/B | 3.17 | 1.07 |
| P/S | 1.62 | 0.88 |
| EV/EBITDA | 12.4 | — |
| Revenue growth | +3.0% | -8.7% |
| Gross margin | — | 4.2% |
| Operating margin | 16.2% | -6.5% |
| Net margin | 9.8% | -14.9% |
| Return on equity | 19.2% | -18.1% |
| Return on assets | 7.2% | -8.3% |
| Return on invested capital | 9.6% | -9.0% |
| FCF yield | 4.7% | -5.3% |
| Dividend yield | 2.4% | 2.8% |
| Debt / equity | 0.95 | 0.67 |
| Current ratio | 1.61 | 2.17 |
| Altman Z (solvency) | 3.58 | 1.87 |
| Piotroski F (quality) | 6 / 9 | 4 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.