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Maker of paperboard packaging — folding cartons and cups — for food, beverage and consumer brands.
Maker of paperboard packaging — folding cartons and cups — for food, beverage and consumer brands.
Sells cartons and cups on contracts that pass paperboard and other input costs through to customers, with a lag, so profit depends on volume and operating efficiency. Its own mills supply most of its board, and it installs carton-forming machines at customers' plants, tying them in. It has been investing in a large new recycled-paperboard mill at Kalamazoo, Michigan.
Moat: narrow (scale, switching costs). Vertically integrated mills-to-carton system and long customer contracts keep switching costly.
Headquarters: Atlanta, Georgia, US · Founded: 1992 · Employees: 23,000
Size Graphic Packaging (GPK) is a United States Materials company (Containers/Packaging) with a market value of $3.31B, the 1479th largest of 3,117 United States companies the cockpit tracks. Shares closed at $11.19 on 6 Nov 2026.
Performance Over six months the shares gained 5.3%, against -0.9% for the median peer and -1.1% for the United States market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 0.3% over the last twelve months (peer median +3.4%); the operating margin is 5.5% (peer median 8.2%).
Valuation It trades at 12.3× forward earnings against a peer median of 16.1× (6th cheapest of 20).
Price implies For today's price to make sense, revenue must grow about 5% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is -1 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.9 points below its cost of capital (6.5% WACC).
Credit Graphic Packaging has 6 bonds outstanding ($2.35B), rated BB- by the agencies and trading like BB at a weighted spread of 158 bp.
Short interest Short interest is 8.9% of the free float (15 Oct 2026).
Next results Next results expected around 9 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $8.64B | $8.62B | $8.81B | $9.43B | $9.44B |
| Revenue growth | — | -2% | -7% | 0% | — |
| Gross profit | $1.22B | $1.61B | $2.00B | $2.19B | $1.82B |
| EBITDA | $1.06B | $1.40B | $1.71B | $1.95B | $1.59B |
| Net income | $74.0M | $444M | $658M | $723M | $522M |
| Free cash flow | $415M | -$81.0M | -$363M | $340M | $541M |
| Capital expenditure | $401M | $922M | $1.20B | $804M | $549M |
| Total debt | $5.50B | $5.87B | $5.46B | $5.62B | $5.50B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Graphic Packaging GPK | $3.31B | +5% | 0% | 6% | 12.3× | 5.0% |
| International Paper IP | $18.3B | +6% | +3% | 3% | 15.8× | 26.4% |
| Sonoco Products SON | $4.99B | -2% | +4% | 10% | 9.0× | -1.9% |
| Silgan SLGN | $4.34B | +2% | +4% | 10% | 10.2× | -5.8% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | GPK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +30.4% | +1.7% | highest of 21 |
| 6-month return | +5.3% | -0.9% | 7th highest of 21 |
| Distance from 52-week high | -34.8% | -18.0% | 5th lowest of 21 |
| Revenue growth (TTM) | +0.3% | +3.4% | 8th lowest of 21 |
| Operating margin | 5.5% | 8.2% | 7th lowest of 21 |
| Forward P/E | 12.3× | 16.1× | 6th cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | 5.0% | -1.9% | 7th most demanding of 18 |
| Growth delivered (Del g) | +5.6% | +6.5% | 6th lowest of 18 |
| Hurdle (Req g minus delivered) | -0.6 pp | -7.9 pp | 6th most demanding of 18 |
| ROIC minus cost of capital | -1.9 pp | +1.7 pp | 4th lowest of 21 |
| EV / EBITDA | 8.0× | 7.9× | 7th most expensive of 14 |
| Net debt / EBITDA | 4.8× | 2.4× | 4th most indebted of 15 |
| Bond spread | 158 bp | 125 bp | widest of 5 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Graphic Packaging GPK | United States | $3.31B | +5% | 0% | 6% | 12.3× | 5.0% | +5.6% |
| Huhtamaki HUH1V.HE | Finland | $3.12B | -1% | -2% | 9% | 11.0× | -6.3% | +3.7% |
| Vidrala VID.MC | Spain | $3.63B | +18% | -3% | 21% | 14.6× | 5.8% | +8.2% |
| Toyo Seikan 5901.T | Japan | $3.69B | +34% | +6% | 6% | 20.4× | -2.7% | +5.2% |
| Viscofan VIS.MC | Spain | $2.86B | -5% | +3% | 15% | 16.6× | -3.4% | +6.5% |
| Ardagh Metal Packaging AMBP | United States | $2.82B | +18% | +17% | 5% | 17.0× | 4.1% | +9.8% |
| Greif GEF | United States | $3.95B | +7% | -2% | 8% | 16.1× | 7.9% | -4.7% |
| Nine Dragons Paper 2689.HK | Hong Kong | $2.76B | -29% | +22% | 9% | 4.4× | n/a | n/a |
| Verallia SAS VRLA.PA | France | $2.56B | -10% | -3% | 9% | 14.7× | 5.6% | +5.6% |
| Oji 3861.T | Japan | $4.31B | -3% | 0% | 2% | 20.6× | 20.4% | +6.5% |
| Silgan SLGN | United States | $4.34B | +2% | +4% | 10% | 10.2× | -5.8% | +5.7% |
| Mondi MNDI.L | United Kingdom | $4.69B | +5% | +5% | 4% | 36.1× | 15.4% | +2.1% |
| Sonoco Products SON | United States | $4.99B | -2% | +4% | 10% | 9.0× | -1.9% | +7.5% |
| Shenzhen YUTO Packaging Technology 002831.SZ | China | $5.19B | 0% | +1% | 11% | 20.8× | -0.4% | +7.9% |
| Jiangsu Sidike New Materials Science & Technology 300806.SZ | China | $5.33B | -17% | +12% | 4% | 154.7× | n/a | n/a |
| Jia Yao 1626.HK | Hong Kong | $2.05B | +175% | +161% | 6% | n/a | n/a | n/a |
| Winpak WPK.TO | Canada | $1.91B | +12% | +3% | 15% | 12.5× | -10.9% | +6.6% |
| Shandong Pharmaceutical Glass 600529.SS | China | $1.85B | 0% | -9% | 18% | 16.5× | -2.4% | +5.5% |
| China International Marine Containers (Group) 2039.HK | Hong Kong | $6.11B | -35% | +6% | 4% | 12.7× | -8.1% | +9.9% |
| ORG Technology 002701.SZ | China | $1.65B | -22% | +24% | 5% | 9.6× | -5.2% | +15.8% |
| Jiamei Food Packaging (Chuzhou) 002969.SZ | China | $1.55B | -56% | -10% | 6% | 86.4× | 22.4% | +7.3% |
Graphic Packaging has 6 bonds outstanding with $2.35B face value. The agencies rate it BB-; its bonds trade like BB. Weighted yield 5.68%, a spread of 158 bp over government bonds.