Debt-to-Equity Ratio

PPG Industries has a Debt-to-Equity Ratio of 0.88x, meaning the company uses $0.88 of debt for every $1.00 of shareholders' equity — a measure of financial leverage.

This is well above the sector median of 0.10x, placing PPG in the 93rd percentile among Basic Materials peers, indicating higher reliance on debt than most competitors. The year-over-year change is not available, but quarter-over-quarter the ratio decreased by 7.4%, from 0.95x to 0.88x. Although the level is elevated relative to the sector, the downward trend suggests the company is reducing its debt burden in the near term, which can moderate risk. The combination of a high percentile rank with a declining ratio implies that while leverage remains above peer norms, the recent improvement may lower financial risk over time. This metric does not contradict the overall NEUTRAL verdict — the elevated debt level is a concern, but the shrinking ratio tempers that concern, supporting a balanced view.

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