There are certainly multiple formulations, but there is only one paint code. Each paint company (PPG, DuPont, etc.) has their own formulation for any given paint code. In fact they have MULTIPLE formulations for every paint code, since paint color tends to change over the years. This is where the art of color matching, blending, etc. comes into play. You do not just enter "R-77" and automatically get paint that is going to match a 1991 Formula Red NSX. You get a palette of formulas with different characteristics, and then you match and blend from there.