RPM International is a specialty coatings and sealants company with superior return on equity relative to peers and strong analyst sentiment, but double concentration risks in both customer and supplier relationships, and the stock has essentially reached its analyst price target with minimal remaining upside at current levels.
Thesis pillars
- Dual Concentration Customer Supplier↓Deteriorating
- Earnings Variability Below Expectations→Stable
- Price At Analyst Target Minimal Upside↓Deteriorating
- +1 more pillar — see the Why tab for full reasoning
RPM International Inc. (RPM) Stock Analysis
Basic Materials · Specialty Chemicals
Sell if holding. Momentum 3.9/10 is below the 5.0 floor at $100.44 — engine's falling-knife protection flags exit rather than catching a breakdown. Specifics: Concentration risk — Customer: top customers within Consumer segment (65.0%); Sector modifier (Basic Materials): -0.1.
RPM International manufactures specialty chemical products — paints, protective coatings, roofing systems, sealants, and adhesives — under brands including Rust-Oleum, Tremco, Carboline, DAP, and Zinsser, in about 163 countries. The company recorded $7.4 billion in net sales for... Read more
Sell if holding. Momentum 3.9/10 is below the 5.0 floor at $100.44 — engine's falling-knife protection flags exit rather than catching a breakdown. Specifics: Concentration risk — Customer: top customers within Consumer segment (65.0%); Sector modifier (Basic Materials): -0.1. Chart setup: No clear chart pattern; technical signals are mixed. Score 5.4/10, moderate confidence.
Passes 4/7 gates (favorable risk/reward ratio, clean insider activity, semi cycle peak clear, materials cycle peak clear). Fails on weak momentum. Suitability: moderate.
About RPM International Inc.
About RPM International Inc.
RPM International generated $7.4 billion in net sales for the fiscal year ended May 31, 2025, split across four segments: Construction Products (about 38%), Consumer (33%), Performance Coatings (20%), and Specialty Products (9%). The company operates roughly 118 manufacturing plants in 21 countries and markets products in about 163 countries, sourcing raw materials that are largely petroleum-based derivatives, minerals, and metals.
RPM's Consumer segment sells directly to mass merchandisers, home improvement centers, and hardware stores, while its Construction Products, Performance Coatings, and Specialty Products segments sell through contractors, distributors, and industrial end-users such as manufacturing facilities and public institutions. Roughly 22% of consolidated net sales in fiscal 2025 came from ten key customers — including The Home Depot, Lowe's, Amazon, and Wal-Mart — concentrated mostly in the Consumer segment, where these same customers made up about 65% of segment net sales; The Home Depot alone represented 24% of Consumer segment net sales. Raw material costs, largely petroleum-based derivatives, minerals, and metals, are managed through multi-source contracts, though the company still flags sole-source suppliers and tariff-driven cost increases as risks. RPM competes against larger, better-capitalized rivals including Akzo Nobel, PPG Industries, and The Sherwin-Williams Company across fragmented paint, coatings, adhesives, and sealants markets.
Show full overview
RPM's exposure outside the U.S. is more manufacturing-driven than a single-country dependency: foreign manufacturing operations accounted for approximately 28.9% of net sales in fiscal 2025, spread across roughly 21 countries including Argentina, Brazil, Germany, India, and South Korea, with direct U.S. exports adding another 0.8%. The 10-K pairs that footprint with $2.4 billion in goodwill and other intangible assets subject to annual impairment testing and $2.6 billion in total debt at May 31, 2025 — a combination that leaves currency swings, tariff actions, and any reporting-unit downturn as potential triggers for both earnings volatility and a goodwill write-down, rather than a single named country risk.
See also: Basic Materials · Specialty Chemicals
From RPM International Inc.'s most recent 10-K filing, extracted August 30, 2026.
Recent developments
updated 2026-09-26Recent Developments — RPM International Inc.
Latest news
- NEWS RPM Upgraded by UBS -- Price Target Raised to $130 - GuruFocus — GuruFocus positive
- NEWS RPM International upgraded at UBS on pricing power, construction recovery (RPM:NYSE) - Seeking Alpha — Seeking Alpha positive
- NEWS PPG stock and RPM shares rise on Akzo takeover bid rejection - Investing.com — Investing.com positive
- NEWS RPM International Raised to Buy From Neutral by UBS - Moomoo — Moomoo positive
- NEWS PPG stock and RPM shares rise on Akzo takeover bid rejection - Investing.com Canada — Investing.com Canada positive
Generated 2026-09-26T10:02:22Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- LOWCustomerHome Depot24%10-K Item 1A: 'Sales to The Home Depot, Inc. represented less than 10% of our consolidated net sales ... and 24%, 23% and 23% of our Consumer segment net sales'
- HIGHCustomertop customers within Consumer segment65%10-K Item 1A: 'Within our Consumer segment, sales to these customers accounted for approximately 65%, 67% and 67% of net sales for the fiscal years ended May 31, 2025, 2024 and 2023, respectively.'
- LOWCustomerkey customers (consolidated)22%10-K Item 1A: 'sales to these customers across all of our reportable segments accounted for approximately 22%, 24% and 25% of our consolidated net sales'
- MEDIUMGeographicforeign operations29%10-K Item 1A: 'Our foreign manufacturing operations accounted for approximately 28.9% of our net sales for the fiscal year ended May 31, 2025'
- MEDIUMProductConstruction Products Group (CPG) segment38%10-K Item 1: 'CPG | Approximately 38% | Construction sealants and adhesives, coatings and chemicals products, roofing systems'
Material Events(8-K, last 90d)
- 2026-06-02Item 1.01LOWRPM amended its $300.0 million accounts receivable securitization facility on May 27, 2026, removing the SOFR credit spread adjustment and interest coverage covenant, and adding a leverage ratio covenant (max 3.75x) triggered only if RPM loses investment-grade ratings from two agencies.SEC filing →
- 2026-04-23Item 5.02LOWRPM appointed Thomas C. Gentile III, chairman/CEO of Hexcel Corporation and former CEO of Spirit AeroSystems, to its Board of Directors effective April 20, 2026. Routine board addition, no departure paired with it.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Rating Breakdown
2 floor-breakers
Growth below the gate floor. Component breakdown shows what dragged the score down.static
Price action weak — below key moving averages, no momentum carry. Needs a base before trend-continuation setups apply.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Momentum 3.9/10 is below the 5.0 floor at $100.44 — engine's falling-knife protection flags exit rather than catching a breakdown. Specifics: Concentration risk — Customer: top customers within Consumer segment (65.0%); Sector modifier (Basic Materials): -0.1. Chart setup: No clear chart pattern; technical signals are mixed. Prior stop was $95.68. Score 5.4/10, moderate confidence.
Take-profit target: $117.00 (+16.5% upside). Prior stop was $95.68. Stop-loss: $95.68.
Concentration risk — Customer: top customers within Consumer segment (65.0%); Sector modifier (Basic Materials): -0.1; Weak growth.
RPM International Inc. trades at a P/E of 19.4 (forward 14.6). TrendMatrix value score: 6.8/10. Verdict: Sell.
21 analysts cover RPM with a consensus score of 4.1/5. Average price target: $130.
What does RPM International Inc. do?RPM International manufactures specialty chemical products — paints, protective coatings, roofing systems, sealants,...
RPM International manufactures specialty chemical products — paints, protective coatings, roofing systems, sealants, and adhesives — under brands including Rust-Oleum, Tremco, Carboline, DAP, and Zinsser, in about 163 countries. The company recorded $7.4 billion in net sales for fiscal 2025 across four segments led by Construction Products (about 38%) and Consumer (33%), with roughly 30% of sales generated internationally.