GRAPHIC PACKAGING HOLDING CO GPK
Graphic Packaging Holding Company ("GPHC" and, together with its subsidiaries, the "Company") is committed to creating consumer packaging that makes a world of difference. The Company is a leading producer of consumer goods packaging made from renewable or recycled materials. The Company designs and manufactures sustainable packaging solutions including cartons, multipack cartons, trays, carriers, paperboard canisters, as well as cups and bowls made primarily from recycled paperboard, unbleached paperboard and bleached paperboard.
The Company serves a wide variety of consumer markets, from food and beverage, to foodservice, household products, beauty and health care. The Company produces packaging solutions at over 100 locations in 20 countries around the world, serving customers ranging from local to multinational consumer products companies and retailers. The Company offers one of the most comprehensive ranges of packaging design, manufacturing and execution capabilities available. The Company currently manufactures most of the paperboard it consumes in the Americas and purchases the majority of the paperboard it consumes in its International Paperboard Packaging operations from third parties.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.58B | $8.78B | $9.38B | $9.41B | $7.13B | $6.54B | $6.14B | $6.01B | $4.38B | $4.28B |
| Cost of revenue | $7.01B | $6.84B | $7.31B | $7.61B | $6.08B | $5.46B | $5.07B | $5.08B | $3.70B | $3.50B |
| Gross profit | $1.57B | $1.93B | $2.07B | $1.80B | $1.05B | $1.10B | $1.09B | $952.4M | $719.5M | $791.9M |
| R&D | $19.0M | $17.0M | $16.0M | $14.0M | $10.0M | $10.0M | $9.0M | $8.7M | $14.4M | $14.9M |
| SG&A | $704.0M | $774.0M | $805.0M | $774.0M | $528.0M | $513.0M | $512.0M | $472.1M | $347.5M | $353.4M |
| Operating income | $804.0M | $1.12B | $1.17B | $906.0M | $407.0M | $524.0M | $534.0M | $458.2M | $327.9M | $407.4M |
| Interest expense | $220.0M | $230.0M | $239.0M | $197.0M | $123.0M | $129.0M | $141.0M | $123.7M | $89.7M | $76.6M |
| Pre-tax income | $582.0M | $886.0M | $932.0M | $716.0M | $289.0M | $244.0M | $354.0M | $347.5M | $253.0M | $319.4M |
| Income tax | $139.0M | $229.0M | $210.0M | $194.0M | $74.0M | $42.0M | $76.0M | $54.7M | $45.5M | $93.2M |
| Net income | $444.0M | $658.0M | $723.0M | $522.0M | $204.0M | $167.0M | $207.0M | $221.1M | $300.2M | $228.0M |
| EPS, basic | 1.48 | 2.16 | 2.35 | 1.69 | 0.69 | 0.60 | 0.70 | 0.71 | 0.97 | 0.71 |
| EPS, diluted | 1.48 | 2.16 | 2.34 | 1.69 | 0.68 | 0.60 | 0.70 | 0.71 | 0.96 | 0.71 |
| Shares, diluted (wtd. avg.) | $299.8M | $305.1M | $309.1M | $309.5M | $297.9M | $279.6M | $294.8M | $310.1M | $311.9M | $321.5M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $261.0M | $157.0M | $162.0M | $150.0M | $172.0M | $179.0M | $153.0M | $71.0M | $67.4M | $59.1M |
| Receivables | $590.0M | $621.0M | $716.0M | $804.0M | $785.0M | $597.0M | $451.2M | $465.5M | $272.0M | $363.3M |
| Inventory | $1.77B | $1.75B | $1.75B | $1.61B | $1.39B | $1.13B | $1.10B | $1.01B | $634.0M | $582.9M |
| Total current assets | $2.92B | $2.78B | $2.85B | $2.71B | $2.50B | $2.02B | $1.81B | $1.76B | $1.17B | $1.11B |
| Property, plant and equipment | $5.67B | $5.26B | $4.99B | $4.58B | — | — | — | $3.24B | $1.87B | $1.75B |
| Goodwill | $2.06B | $1.99B | $2.10B | $1.98B | $2.02B | $1.48B | $1.48B | $1.46B | $1.32B | $1.26B |
| Other intangibles | $670.0M | $667.0M | $820.0M | $717.0M | $868.0M | $437.0M | $477.3M | $523.8M | $436.5M | $445.3M |
| Total assets | $11.78B | $11.14B | $11.18B | $10.33B | $10.46B | $7.80B | $7.29B | $7.06B | $4.86B | $4.60B |
| Accounts payable | $1.03B | $1.12B | $1.09B | $1.12B | $1.12B | $825.0M | $716.1M | $711.6M | $516.5M | $466.5M |
| Short-term debt | $525.0M | $14.0M | $739.0M | $26.0M | $263.0M | $489.0M | $36.5M | $36.5M | $50.0M | $25.0M |
| Total current liabilities | $2.24B | $1.90B | $2.59B | $1.93B | $2.05B | $1.86B | $1.20B | $1.17B | $851.4M | $779.8M |
| Long-term debt | $5.02B | $5.14B | $4.61B | $5.20B | $5.51B | $3.15B | $2.81B | $2.91B | $2.21B | $2.09B |
| Retained earnings | $1.61B | $1.41B | $1.03B | $469.0M | $66.0M | -$48.0M | $56.4M | $10.0M | -$56.0M | -$268.0M |
| Total equity | $3.34B | $3.01B | $2.78B | $2.15B | $1.89B | $1.84B | $2.06B | $2.02B | $1.29B | $1.06B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $841.0M | $840.0M | $1.14B | $1.09B | $609.0M | $825.0M | $666.0M | -$373.8M | -$192.5M | $74.0M |
| Depreciation and amortisation | $536.0M | $557.0M | $619.0M | $553.0M | $489.0M | $476.0M | $447.0M | $430.6M | $330.3M | $299.3M |
| Stock-based compensation | $2.0M | $62.0M | $44.0M | $34.0M | — | — | — | — | — | — |
| Capital expenditure | — | — | — | — | — | — | — | $378.8M | $240.9M | $278.6M |
| Investing cash flow | -$732.0M | -$342.0M | -$1.02B | -$435.0M | -$2.39B | -$648.0M | -$225.0M | $689.1M | $268.1M | -$65.1M |
| Financing cash flow | -$18.0M | -$489.0M | -$106.0M | -$666.0M | $1.78B | -$152.0M | -$361.0M | -$310.7M | -$69.8M | -$3.1M |
| Dividends paid | $128.0M | $122.0M | $123.0M | $92.0M | $92.0M | $103.0M | $113.0M | $111.0M | $93.4M | $64.4M |
| Buybacks | $150.0M | $200.0M | $54.0M | $28.0M | $0 | $316.0M | $129.0M | $119.1M | $62.1M | $164.9M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-186948.
Others in SIC 2650
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| SW | Smurfit Westrock plc | $24.04B | 34.5x | 47.7% |
| PKG | PACKAGING CORP OF AMERICA | $21.14B | 27.7x | 7.2% |
| SON | SONOCO PRODUCTS CO | $5.14B | 5.2x | 41.7% |
| DSS | DSS, INC. | $8.3M | — | 8.7% |