ESI vs. PPG

Last updated Jun 4, 2026

ESI (Element Solutions Inc) and PPG (PPG Industries, Inc.) are both stocks. Both operate in the Specialty Chemicals industry within the Basic Materials sector. Over the past 10 years, ESI returned 16.45%/yr vs 2.23%/yr for PPG. A 0.51 correlation means they provide meaningful diversification when combined.

Performance

ESI vs. PPG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Element Solutions Inc (ESI) and PPG Industries, Inc. (PPG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ESI achieves a 70.42% return, which is significantly higher than PPG's 10.05% return. Over the past 10 years, ESI has outperformed PPG with an annualized return of 16.45%, while PPG has yielded a comparatively lower 2.23% annualized return.

ESI

• 1D: -0.56%
• 1M: -0.72%
• YTD: 70.42%
• 6M: 64.11%
• 1Y: 100.15%
• 3Y*: 32.17%
• 5Y*: 14.08%
• 10Y*: 16.45%

PPG

• 1D: -1.98%
• 1M: 7.72%
• YTD: 10.05%
• 6M: 11.27%
• 1Y: 2.68%
• 3Y*: -5.10%
• 5Y*: -7.49%
• 10Y*: 2.23%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ESI vs. PPG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ESI Element Solutions Inc	70.42%	-0.44%	11.29%	29.26%	-23.91%	38.51%	52.36%	13.07%	4.13%	1.12%
PPG PPG Industries, Inc.	10.05%	-11.96%	-18.46%	21.19%	-25.71%	21.28%	10.08%	32.81%	-11.00%	25.24%

Correlation

The correlation between ESI and PPG is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (10Y) Calculated over the trailing 10-year period	0.54
Correlation (All Time) Calculated using the full available price history since Oct 23, 2013	0.51

The correlation between ESI and PPG has been stable across timeframes, ranging from 0.50 to 0.58 - a consistent structural relationship.

Fundamentals

Market Cap ESI : $10.34B PPG : $25.00B
EPS ESI : $0.61 PPG : $7.01
PE Ratio ESI : 69.21 PPG : 15.88
PEG Ratio ESI : 6.67 PPG : 2.11
PS Ratio ESI : 3.68 PPG : 1.56
Total Revenue (TTM) ESI : $2.80B PPG : $16.12B
Gross Profit (TTM) ESI : $1.14B PPG : $4.88B
EBITDA (TTM) ESI : $407.70M PPG : $2.52B

Return for Risk

ESI vs. PPG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ESI

ESI Risk / Return Rank: 91
ESI Sharpe Ratio Rank: 92
ESI Sortino Ratio Rank: 90
ESI Omega Ratio Rank: 88
ESI Calmar Ratio Rank: 92
ESI Martin Ratio Rank: 94

PPG

PPG Risk / Return Rank: 41
PPG Sharpe Ratio Rank: 44
PPG Sortino Ratio Rank: 38
PPG Omega Ratio Rank: 37
PPG Calmar Ratio Rank: 42
PPG Martin Ratio Rank: 43

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ESI vs. PPG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Element Solutions Inc (ESI) and PPG Industries, Inc. (PPG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ESI	PPG	Difference
Sharpe ratio Return per unit of total volatility	2.58	0.09	+2.48
Sortino ratio Return per unit of downside risk	3.20	0.34	+2.86
Omega ratio Gain probability vs. loss probability	1.40	1.04	+0.36
Calmar ratio Return relative to maximum drawdown	5.64	0.10	+5.54
Martin ratio Return relative to average drawdown	18.06	0.21	+17.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ESI vs. PPG - Sharpe Ratio Comparison

The current ESI Sharpe Ratio is 2.58, which is higher than the PPG Sharpe Ratio of 0.09. The chart below compares the historical Sharpe Ratios of ESI and PPG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ESI	PPG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.58	0.09	+2.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	-0.27	+0.69
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	0.08	+0.36
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.38	-0.11

Drawdowns

ESI vs. PPG - Drawdown Comparison

The maximum ESI drawdown since its inception was -80.66%, which is greater than PPG's maximum drawdown of -63.02%. Use the drawdown chart below to compare losses from any high point for ESI and PPG.

Drawdown Indicators

	ESI	PPG	Difference
Max Drawdown Largest peak-to-trough decline	-80.66%	-63.02%	-17.64%
Max Drawdown (1Y) Largest decline over 1 year	-17.85%	-25.68%	+7.83%
Max Drawdown (3Y) Largest decline over 3 years	-39.98%	-37.41%	-2.57%
Max Drawdown (5Y) Largest decline over 5 years	-39.98%	-46.02%	+6.04%
Max Drawdown (10Y) Largest decline over 10 years	-56.24%	-46.02%	-10.22%
Current Drawdown Current decline from peak	-5.70%	-32.23%	+26.53%
Average Drawdown Average peak-to-trough decline	-36.21%	-13.25%	-22.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.57%	12.64%	-7.07%

Volatility

ESI vs. PPG - Volatility Comparison

Element Solutions Inc (ESI) has a higher volatility of 12.99% compared to PPG Industries, Inc. (PPG) at 9.13%. This indicates that ESI's price experiences larger fluctuations and is considered to be riskier than PPG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ESI	PPG	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.99%	9.13%	+3.86%
Volatility (6M) Calculated over the trailing 6-month period	32.31%	22.82%	+9.49%
Volatility (1Y) Calculated over the trailing 1-year period	39.10%	28.86%	+10.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.29%	27.55%	+6.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.20%	27.45%	+9.75%

Dividends

ESI vs. PPG - Dividend Comparison

ESI's dividend yield for the trailing twelve months is around 0.75%, less than PPG's 2.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ESI Element Solutions Inc	0.75%	1.28%	1.26%	1.38%	1.76%	1.03%	0.28%	0.00%	0.00%	0.00%	0.00%	0.00%
PPG PPG Industries, Inc.	2.55%	2.71%	2.23%	1.70%	1.92%	1.31%	1.46%	1.48%	1.82%	1.46%	1.65%	1.43%

Financials

ESI vs. PPG - Profitability Comparison

The chart below illustrates the profitability comparison between Element Solutions Inc and PPG Industries, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

ESI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Element Solutions Inc reported a gross profit of 322.70M and revenue of 840.00M. Therefore, the gross margin over that period was 38.4%.

PPG - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, PPG Industries, Inc. reported a gross profit of 0.00 and revenue of 3.93B. Therefore, the gross margin over that period was 0.0%.

ESI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Element Solutions Inc reported an operating income of 111.40M and revenue of 840.00M, resulting in an operating margin of 13.3%.

PPG - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, PPG Industries, Inc. reported an operating income of 385.00M and revenue of 3.93B, resulting in an operating margin of 9.8%.

ESI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Element Solutions Inc reported a net income of 55.90M and revenue of 840.00M, resulting in a net margin of 6.7%.

PPG - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, PPG Industries, Inc. reported a net income of 382.00M and revenue of 3.93B, resulting in a net margin of 9.7%.

Frequently Asked Questions

Can I hold both ESI and PPG in my portfolio?

ESI and PPG have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ESI or PPG?

ESI has higher volatility (12.99%) compared to PPG (9.13%). In terms of maximum drawdown, ESI dropped -80.66% vs PPG's -63.02%.

Which has better risk-adjusted returns?

ESI currently has the higher Sharpe Ratio (2.58 vs 0.09), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.