"When they open that envelope, the first instruction is to take my pulse again." - 2001 Annual Meeting after mentioning that the instructions of his succession are sealed in an envelope at headquarters. Warren BUFFETT	Donate with Paypal
- U.S.A. - Canada - U.K. - France - Germany - Japan - Hong-Kong	Sherwin-Williams - - SP 500 - Home Improvement Retail The Sherwin-Williams Company (Sherwin-Williams) is engaged in the development, manufacture, distribution and sale of paint, coatings and related products to professional, industrial, commercial and retail customers primarily in North and South America with additional operations in the Caribbean MARGIN OF SAFETY of Sherwin-Williams : 87.34 % The Margin of Safety of Sherwin-Williams is OK (>50%). How is the Margin of Safety calculated ? QUALITY : Conservative Investors : Enterprising Investors : What are the Stars ? FORUMS VISIT Sherwin-Williams FORUM ! Alerts : BUY at : 56.91 USD on : 10/31/2008 STOP at : 50.05 USD on : 6/9/2008 STOP at : 57.31 USD on : 02/05/2008 What are the alerts ? Price over 1 year : PRICE, INTRINSIC VALUE & MARGIN OF SAFETY based on GRAHAM's FORMULA What is the Graham's Formula ? Sherwin-Williams price is : (as of 5/21/2009) USD Current Earnings per Share (2008 est.) are : USD Estimated Long Term Growth (% per Year) is : % INTRINSIC VALUE = 3.60 x (8.5 + 2 x 9.72) = 100.58 USD MARGIN OF SAFETY = (100.58 - 53.69 ) / 53.69 = 87.34 % (OK) How is Long Term Growth estimated for Sherwin-Williams ? Historical analysis for Sherwin-Williams - See detail QUALITATIVE FILTERS FOR Sherwin-Williams What are the Stars ? DEFENSIVE ENTERPRISING COMPANY SIZE (MKT CAP. Mls $) Large Cap. 6,269 mls.$ OK The company's Market cap. is above 5000 millions dollars - FINANCIAL CONDITION Current Ratio 0.99 The current ratio is under 2 The current ratio is under 1.5 LT Debt/Net Curr. Assets -11.03 The LTdebt/current assets ratio is negative The LTdebt/current assets ratio is negative EARNINGS STABILITY Losses / 10 - 5 Years 0 / 0 No losses in the past ten years No losses in the past five years DIVIDENDS Years of Dividends 15 15 years of dividend in the past 15 years Current dividends paid EARNINGS GROWTH Growth 10-5 Years 260% / 59%% Total Earnings growth above 33% for the past 10 years Last year earnings above earnings 5 years ago VALUATION P.E. x P/Book 67.25 P.E. x P/Book is above 22.5 P/Book is above 1.20 P.E. 14.9 OK PE is under 15 - P/Book 4.51 NO P/Book is above 1.5 NO P/Book is above 1.2 Sherwin-Williams - Competitors for Home Improvement Retail   STOCK QUALITY Conservative Investors MARGIN OF SAFETY Long Term Growth Price / Earnings   Mr Bricolage - France Mid&Small 190 Home Improvement Retail MARGIN OF SAFETY : 225.67 % Long Term Growth : 7.19 % Price / Earnings : 7.0 x 13.63 / 1.94 = Bricorama - France Mid&Small 190 Home Improvement Retail MARGIN OF SAFETY : 158.75 % Long Term Growth : 2.32 % Price / Earnings : 5.1 x 17.67 / 3.48 = Sherwin-Williams - U.S.A. SP 500 Home Improvement Retail MARGIN OF SAFETY : 87.33 % Long Term Growth : 9.72 % Price / Earnings : 14.9 x 53.69 / 3.60 = Rona - Canada SP/TSX Comp. Home Improvement Retail MARGIN OF SAFETY : 64.62 % Long Term Growth : 3.99 % Price / Earnings : 10.0 x 12.42 / 1.24 = Lowe's - U.S.A. SP 500 Home Improvement Retail MARGIN OF SAFETY : 60.70 % Long Term Growth : 8.46 % Price / Earnings : 15.8 x 19.3 / 1.22 = Home Depot - U.S.A. DOW JONES 30 Home Improvement Retail MARGIN OF SAFETY : 11.94 % Long Term Growth : 4.97 % Price / Earnings : 16.5 x 22.89 / 1.39 = Kingfisher - U.K. FTSE 100 Home Improvement Retail MARGIN OF SAFETY : 0.00 % Long Term Growth : 0.00 % Price / Earnings : 18.2 x 182.2 / 10.00 = Samse NV - France Mid&Small 190 Home Improvement Retail MARGIN OF SAFETY : 0.00 % Long Term Growth : 0.00 % Price / Earnings : 11.6 x 54.44 / 4.70 =