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Graphic Packaging

GPK NYSE Paper & Plastic Packaging Products & Materials Financials FY2016–FY2025

Graphic Packaging's revenue fell 2.2% to $8.6 billion in fiscal 2025. Its operating margin was 9.3%, down from 12.7% a year earlier. Free cash flow was −$81 million. It paid out $278 million in dividends and buybacks. The diluted share count fell 1.7%.

Last close · Oct 23, 2026

$8.77

3.0%
Value it Compare
Revenue Total sales reported in the income statement.
$8.6B
2.2% vs prior year
Operating margin Operating income as a share of revenue.
9.3%
3.4 pts
Net income Profit after all expenses, interest and tax.
$444M
32.5%
Free cash flow Cash from operations minus capital spending.
−$81.0M
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
7.3%
3.0 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$2.6B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
13.3x
On $0.66 EPS (TTM)

What Graphic Packaging does

No business description yet.

Legal name
Graphic Packaging Holding Co
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001408075-26-000009
0001408075

Revenue and margins

Graphic Packaging had $8.6B of revenue in fiscal 2025, down 2.2% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 8.5% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was −$81.0M in fiscal 2025, −0.9% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Graphic Packaging returned $278M to shareholders in fiscal 2025. The diluted share count fell 1.7%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Graphic Packaging yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$5.3B and divides by 299.8M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 13.3x · peers 18.4x · sector 20.6x.

Balance sheet

Cash, debt and the ratios that show how comfortably Graphic Packaging can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $172M$150M$162M$157M$261M
Debt incl. finance leases $5.8B$5.3B$5.4B$5.2B$5.6B
Net debt / EBITDA 6.3x3.5x2.9x3.0x4.0x
Debt / equity 3.1x2.5x1.9x1.7x1.7x
Interest coverage 3.3x4.6x4.9x4.9x3.7x
Current ratio 1.2x1.4x1.1x1.5x1.3x
Quick ratio 0.5x0.6x0.4x0.5x0.5x
Total assets $10.5B$10.3B$11.2B$11.1B$11.8B
Total liabilities $8.6B$8.2B$8.4B$8.1B$8.4B
Shareholders' equity $1.9B$2.1B$2.8B$3.0B$3.3B
Net debt (− = net cash) $5.7B$5.1B$5.2B$5.1B$5.3B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$1.1M

4 insiders

Sold, 12 months

$0.0M

0 insiders

Of sales under plans

—

$0.0M

DateInsiderTradeSharesPriceValueFiling
May 8, 2026 Robert HagemannDirector Bought 14,000 $11.00 $0.2M Form 4
May 7, 2026 Jeffrey StafeilDirector Bought 17,878 $11.19 $0.2M Form 4
Mar 4, 2026 Larry M VenturelliDirector Bought 17,531 $11.37 $0.2M Form 4
Mar 4, 2026 Robbert RietbroekPresident and CEO, Director Bought 44,278 $11.32 $0.5M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✕ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✓ ✕
Current ratio rose ✕ ✓ ✕
Share count didn't rise ✓ ✓ ✓
Gross margin rose ✓ ✕ ✕
Revenue rose relative to assets ✓ ✕ ✕
F-score 8 / 96 / 94 / 9
Accruals ratio −3.9%−1.6%−3.5%
Altman Z'' 1.501.991.70

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Graphic Packaging GPK $2.6B −2.2% 9.3% −0.9% 7.3% 13.3x 4
Avery Dennison AVY $13.9B 1.1% — 8.0% 14.6% 19.9x 5 Compare →
Packaging Corporation of America PKG $22.0B 7.2% 12.3% 8.1% 11.8% 32.1x 4 Compare →
Sonoco SON $5.0B 41.7% 13.5% 4.6% 9.4% 4.9x 5 Compare →
Crown CCK $12.9B 4.8% 12.6% 9.0% 13.7% 16.9x 7 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $4.3B $4.4B $6.0B $6.2B $6.6B $7.2B $9.4B $9.4B $8.8B $8.6B
Gross profit $792M $720M $952M $1.1B $1.1B $1.1B $1.8B $2.1B $2.0B $1.6B
Research and development $14.9M $14.4M $8.7M $9.0M $10.0M $10.0M $14.0M $16.0M $17.0M $19.0M
Operating income $407M $328M $458M $534M $524M $407M $906M $1.2B $1.1B $804M
Interest expense $76.6M $89.7M $124M $141M $129M $123M $197M $239M $230M $220M
Pretax income $319M $253M $348M $354M $244M $289M $716M $932M $886M $582M
Income tax $93.2M −$45.5M $54.7M $76.0M $42.0M $74.0M $194M $210M $229M $139M
Net income $228M $300M $221M $207M $167M $204M $522M $723M $658M $444M
Diluted EPS $0.71 $0.96 $0.71 $0.70 $0.60 $0.68 $1.69 $2.34 $2.16 $1.48
Diluted shares 0.32B 0.31B 0.31B 0.29B 0.28B 0.30B 0.31B 0.31B 0.31B 0.30B
Cash flow
Cash from operations $74.0M −$193M −$374M $666M $825M $609M $1.1B $1.1B $840M $841M
Capital expenditure $279M $241M $379M $331M $616M $775M $522M $804M $1.2B $922M
Free cash flow −$205M −$433M −$753M $335M $209M −$166M $568M $340M −$363M −$81.0M
Depreciation and amortization $299M $330M $431M $447M $476M $489M $553M $619M $557M $536M
Stock-based compensation $20.2M $8.9M $13.8M $22.0M $34.0M $27.0M $34.0M $44.0M $62.0M $2.0M
Acquisitions $333M $189M $89.4M $55.0M $121M $1.7B $0.0M $361M $0.0M $29.0M
Share buybacks $165M $62.1M $119M $129M $316M $0.0M $28.0M $54.0M $200M $150M
Dividends paid $64.4M $93.4M $111M $113M $103M $92.0M $92.0M $123M $122M $128M
Dividends and buybacks $229M $156M $230M $242M $419M $92.0M $120M $177M $322M $278M
Balance sheet
Cash and short-term investments $59.1M $67.4M $70.5M $153M $179M $172M $150M $162M $157M $261M
Total debt $2.1B $2.3B $2.8B $2.7B $3.5B $5.7B $5.1B $5.2B $5.1B $5.5B
Finance lease liabilities $0.0M $0.0M $0.0M $134M $139M $146M $170M $161M $145M $141M
Current assets $1.1B $1.2B $1.8B $1.8B $2.0B $2.5B $2.7B $2.8B $2.8B $2.9B
Current liabilities $780M $851M $1.2B $1.2B $1.9B $2.0B $1.9B $2.6B $1.9B $2.2B
Inventory $583M $634M $1.0B $1.1B $1.1B $1.4B $1.6B $1.8B $1.8B $1.8B
Property and equipment, net $1.8B $1.9B $3.2B $3.3B $3.6B $4.7B $4.6B $5.0B $5.3B $5.7B
Total assets $4.6B $4.9B $7.1B $7.3B $7.8B $10.5B $10.3B $11.2B $11.1B $11.8B
Total liabilities $3.5B $3.6B $5.0B $5.2B $6.0B $8.6B $8.2B $8.4B $8.1B $8.4B
Shareholders' equity $1.1B $1.3B $1.6B $1.6B $1.4B $1.9B $2.1B $2.8B $3.0B $3.3B
Margins
Gross margin 18.4% 16.3% 15.8% 17.7% 16.8% 15.0% 19.4% 22.5% 22.3% 18.6%
Operating margin 9.5% 7.4% 7.6% 8.7% 8.0% 5.7% 9.6% 12.5% 12.7% 9.3%
EBITDA margin 16.4% 14.9% 14.7% 15.9% 15.2% 12.5% 15.5% 19.0% 19.0% 15.6%
Net margin 5.3% 6.8% 3.7% 3.4% 2.6% 2.9% 5.5% 7.7% 7.5% 5.2%
FCF margin −4.8% −9.8% −12.5% 5.4% 3.2% −2.3% 6.0% 3.6% −4.1% −0.9%
Returns
Return on capital 9.5% 9.9% 9.3% 8.8% 8.6% 4.7% 8.9% 11.9% 10.3% 7.3%
Return on capital employed 11.1% 8.4% 9.3% 8.9% 8.7% 5.7% 10.8% 13.8% 12.6% 8.6%
Return on equity 21.1% 25.6% 15.4% 13.1% 11.2% 12.3% 25.8% 29.3% 22.7% 14.0%
Return on assets 5.2% 6.3% 3.7% 2.9% 2.2% 2.2% 5.0% 6.7% 5.9% 3.9%
Growth
Revenue growth 3.3% 2.5% 36.9% 2.2% 6.5% 9.1% 31.9% −0.1% −6.6% −2.2%
Net income growth −0.9% 31.7% −26.4% −6.4% −19.3% 22.2% 155.9% 38.5% −9.0% −32.5%
EPS growth 1.4% 35.2% −26.0% −1.4% −14.3% 13.3% 148.5% 38.5% −7.7% −31.5%
FCF growth −156.8% — — — −37.6% −179.4% — −40.1% −206.8% —
Share count change −2.8% −3.0% −0.6% −4.9% −5.2% 6.6% 3.9% −0.1% −1.3% −1.7%
Financial health
Net debt / EBITDA 3.0x 3.3x 3.1x 2.8x 3.5x 6.3x 3.5x 2.9x 3.0x 4.0x
Debt / equity 2.0x 1.8x 1.8x 1.8x 2.6x 3.1x 2.5x 1.9x 1.7x 1.7x
Interest coverage 5.3x 3.7x 3.7x 3.8x 4.1x 3.3x 4.6x 4.9x 4.9x 3.7x
Current ratio 1.4x 1.4x 1.5x 1.5x 1.1x 1.2x 1.4x 1.1x 1.5x 1.3x
Quick ratio 0.7x 0.6x 0.6x 0.6x 0.5x 0.5x 0.6x 0.4x 0.5x 0.5x
Capital allocation
Capex / revenue 6.5% 5.5% 6.3% 5.4% 9.4% 10.8% 5.5% 8.5% 13.7% 10.7%
Stock comp / revenue 0.5% 0.2% 0.2% 0.4% 0.5% 0.4% 0.4% 0.5% 0.7% 0.0%
Payouts / FCF — — — 72.2% 200.5% — 21.1% 52.1% — —
Quality scores
Piotroski F-score 4.0 4.0 4.0 7.0 5.0 6.0 7.0 8.0 6.0 4.0
Altman Z'' 1.2 1.2 1.4 1.5 0.9 0.8 1.5 1.5 2.0 1.7
Accruals ratio 3.5% 10.4% 10.0% −6.4% −8.7% −4.4% −5.5% −3.9% −1.6% −3.5%

Source: SEC EDGAR XBRL filings (CIK 0001408075). Data updated October 14, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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