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Graphic Packaging Holding Co (GPK) stock

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NYSE: GPK NYSE Paper & Plastic Packaging Products & Materials Next results ~November 3, 2026

C+ Fundamentals grade

Graphic Packaging Holding Co is a US-listed company in the paper & plastic packaging products & materials industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: our cash-flow value ($5.88) was left out of our combined valuation (it is more than 3x away from the median of our other models), so it can't be the basis of a rating.

Price vs value

Under review: our cash-flow value ($5.88) was left out of our combined valuation (it is more than 3x away from the median of our other models), so it can't be the basis of a rating. We'll show the comparison once resolved.

Graphic Packaging Holding Co valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders4 buying, 0 selling8 purchases and 0 sales by directors and officers, last 12 monthsInsider trades
  • Funds313 adding, 183 cuttingOf 65 active managers that changed their stake, 30 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Graphic Packaging Holding files

Where Graphic Packaging stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $8.64bn, up 0.0% on a year earlier, about the same pace as a quarter earlier. That puts it 828 of 931 for growth among all the companies we cover. Free-cash-flow margin held at 9.2%. Operating margin narrowed to 5.8% from 10.8%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 6 financial-health checks.

Our model value for Graphic Packaging Holding is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 4, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 3, 2026 (estimated)

Graphic Packaging Holding Co's trailing-twelve-month revenue grew 0.0% year on year, with a free-cash-flow margin of 2.7%. Where it stands out: stock pay as % of revenue of 0.2% ranks 1 of 11 paper & plastic packaging products & materials companies we cover. Where it lags: long-term debt as % of assets of 43.9% ranks 10 of 11 paper & plastic packaging products & materials companies we cover.

Our discounted-cash-flow model values the business at ~$5.9 per share in the base case (—–$14 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 0.9% while net income fell 63.7%: a 65pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Shrinking share count. Diluted shares fell 1.8% in a year, so each share owns more of the business.

Things to watch

  • Margins narrowing. Operating margin is down 4.9 points on a year ago.
  • Volatile shares. Over the past year the shares showed annualised volatility of 47% and a beta of 0.8 against the S&P 500.
  • Gross margin slipping. Gross margin is down 5.6 points on a year ago.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 43.9% ranks 10 of 11 paper & plastic packaging products & materials companies we cover (median 36.0%).
  • Below peers: revenue growth. Revenue growth of 0.0% ranks 9 of 11 paper & plastic packaging products & materials companies we cover (median 3.6%).
  • Heavily shorted. 10.2% of the shares available to trade are sold short (3.6 days of average volume to cover).

Latest results: FY2026 Q2

Filed August 4, 2026
Earnings per share
$0.14 against an average estimate of $0.12: beat by 14.8%
Revenue
$2.19bn, down 0.7% on a year earlier
Share reaction
+4.8% in the first session after the results on August 4, 2026, against +1.6% for the S&P 500
Guidance given
net Sales $8.4bn to $8.6bn (2026); adjusted EBITDA $1.05bn to $1.25bn (2026)
Next report
November 3, 2026; average EPS estimate $0.22

Graphic Packaging Holding's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+4.2%
  • 1 week+6.5%
  • 1 month+6.3%
  • This year-36.0%
  • 1 year-39.3%
  • 5 years-49.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$8.6B
Operating margin
5.8%
Net margin
2.2%
EPS (TTM, diluted)
$0.65

Growth

Revenue growth
+0.0%
Change in growth rate
+0.2 pts
Share count change
−1.8%

Cash

Free cash flow (TTM)
$234M
FCF margin
2.7%
Stock pay % of revenue
0.2%

Earnings

Last results
November 3, 2026
Next results (est.)
February 2, 2027

News & updates

Updated November 3, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Leadership
  3. Announcement
  4. Announcement
  5. Leadership
  6. Financing
  7. Announcement
  8. Results
  9. Guidance
  10. Dividend
  11. Product

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Graphic Packaging Holding Co valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: our cash-flow value ($5.88) was left out of our combined valuation (it is more than 3x away from the median of our other models), so it can't be the basis of a rating.

Our value per share comes from a discounted-cash-flow model of Graphic Packaging Holding Co's free cash flow after stock-based pay ( $443M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Graphic Packaging Holding Co as an operating company, with every model that fits that kind of business. Cost of equity 8.7%: the 10-year Treasury yield (4.9%) plus a beta of 0.83 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$5.9 Left out: far from the other models (more than 3x away from their median)
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$13 ~$11–$16 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$35 ~$25–$50 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$32 ~$28–$39 Included
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Graphic Packaging Holding Co with Paper & Plastic Packaging Products & Materials in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$10.29$10.18$12.89$9.07$14.50$15.07$17.63$20.43$23.01$25.71$14.57$9.33
Market value$3.4bn$3.3bn$4.0bn$2.8bn$4.3bn$4.2bn$5.3bn$6.3bn$7.1bn$7.8bn$4.4bn$2.8bn
+ Net debt (− = net cash)$1.8bn$2.1bn$2.2bn$2.9bn$2.7bn$3.5bn$5.6bn$5.1bn$5.2bn$5.0bn$5.3bn$5.5bn
Enterprise value$5.2bn$5.4bn$6.2bn$5.7bn$7.0bn$7.7bn$10.9bn$11.4bn$12.3bn$12.9bn$9.7bn$8.2bn
Multiples
Price / sales 0.8x0.8x0.9x0.5x0.7x0.6x0.7x0.7x0.8x0.9x0.5x0.3x
Price / earnings 14.8x14.4x13.4x12.7x20.7x25.2x25.7x12.1x9.8x11.9x9.8x14.3x
Price / free cash flow 9.4x———6.4x5.1x8.6x5.8x6.2x9.3x5.2x3.5x
EV / EBITDA 7.4x7.6x9.5x6.4x7.1x7.7x12.1x7.8x6.9x7.7x7.2x7.7x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

44 /100

Weak moat

How hard Graphic Packaging Holding's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 2 / 20

    Net income has been a median 3.2% of total assets over 10 years.

  • Pricing power 7 / 20

    Gross margin has been a median 17.0%, moving by 2.6 percentage points (standard deviation) across 10 years.

  • Durability 11 / 20

    Operating margin has been a median 8.1%; its worst year was 5.8%.

  • Cash conversion 8 / 20

    Free cash flow was positive in 7 of 10 years, at a median 2.7% of revenue.

  • Discipline 15 / 20

    The diluted share count rose 5.9% over five years; stock-based pay has been a median 0.3% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 3, 2026, before the open. Analysts expect revenue of $2.2bn and EPS of $0.22 (range $0.19 to $0.24) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.67 −63% $8.6bn +0%
Next $0.97 +45% $8.8bn +2%

Next year's EPS estimate has moved −16.0% in 90 days, across 9 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −18.4% on 90 days ago. In the last 30 days, 1 analyst raised Graphic Packaging Holding Co's forecast and 3 cut it.

Consensus EPS forecast Graphic Packaging Holding Co, last 90 days
$0.60 $0.80 $1.00 $1.20 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.82 Current fiscal year, 60 days ago: $0.71 Current fiscal year, 30 days ago: $0.72 Current fiscal year, 7 days ago: $0.67 Current fiscal year, Now: $0.67 $0.67 Next fiscal year, 90 days ago: $1.16 Next fiscal year, 60 days ago: $1.12 Next fiscal year, 30 days ago: $1.12 Next fiscal year, 7 days ago: $1.00 Next fiscal year, Now: $0.97 $0.97

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.82$1.16
60 days ago $0.71$1.12
30 days ago $0.72$1.12
7 days ago $0.67$1.00
Now $0.67$0.97

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.12 $0.14 +14.8%
Mar 2026 $0.06 $0.09 +48.1%
Dec 2025 $0.35 $0.29 −16.9%
Sept 2025 $0.57 $0.58 +1.9%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 4, 2026
  • Net Sales 2026 $8.4bn to $8.6bn
    “The Company now expects 2026 Net Sales at the high-end of the range of $8.4 billion to $8.6 billion, Adjusted EBITDA at the low-end of the range of $1.05 billion to $1.25 billion, and Adjusted EPS in the range of $0.65 to $0.90.” source
  • Adjusted EPS 2026 $0.65 to $0.90 Non-GAAP Lowered
    “The Company now expects 2026 Net Sales at the high-end of the range of $8.4 billion to $8.6 billion, Adjusted EBITDA at the low-end of the range of $1.05 billion to $1.25 billion, and Adjusted EPS in the range of $0.65 to $0.90.” source
  • Adjusted EBITDA 2026 $1.05bn to $1.25bn Non-GAAP
    “The Company now expects 2026 Net Sales at the high-end of the range of $8.4 billion to $8.6 billion, Adjusted EBITDA at the low-end of the range of $1.05 billion to $1.25 billion, and Adjusted EPS in the range of $0.65 to $0.90.” source
  • Adjusted Cash Flow 2026 $600m to $700m Non-GAAP
    “The Company now expects 2026 Adjusted Cash Flow in the range of $600 million to $700 million, and 2026 capital spending below $450 million.” source
  • capital spending 2026 —
    “The Company now expects 2026 Adjusted Cash Flow in the range of $600 million to $700 million, and 2026 capital spending below $450 million.” source
  • in-year savings from structural cost actions full-year 2026 about $85m
    “Structural cost actions expected to generate approximately $85 million of in-year savings, partially offsetting full-year 2026 expected inflation of $150 million.” source
Show 1 more item
  • expected inflation full-year 2026 about $150m
    “Structural cost actions expected to generate approximately $85 million of in-year savings, partially offsetting full-year 2026 expected inflation of $150 million.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Graphic Packaging Holding Co's revenue by +0.9% next year and +2.0% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+1.0%, weight 54%) , management guidance (-0.6%, weight 20%) and the company's own record (+2.0%, weight 26%) . How the weights are set.

Analyst recommendations

11 analysts, Oct 2026
Buy218%
Hold873%
Sell19%

Monthly trend

  1. Oct 2026118111
  2. Sep 20261181112
  3. Aug 2026191112
  4. Jul 2026191112

Counts of recommendations published by analysts covering Graphic Packaging Holding Co, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
10.2%
of tradable shares
Days to cover
3.63
at average volume
Short interest, 1 month
+13%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
1.5%
of shares
Employees
23,000
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −39.3%

$15.36 on October 31, 2025 to $9.33

ThenNowEffect
Revenue (last 12 months) $8.6bn $8.6bn 0.0%
Net margin 6.2% 2.2% −63.7%
P/E multiple 8.7x 14.3x +64.3%
Share count 302m 297m +1.8%

Biggest factor: net margin.

Last 3 years −54.5%

$20.53 on November 3, 2023 to $9.33

ThenNowEffect
Revenue (last 12 months) $9.7bn $8.6bn −10.7%
Net margin 7.3% 2.2% −69.2%
P/E multiple 9.0x 14.3x +58.8%
Share count 309m 297m +4.2%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
GPK+17%+16%+13%+12%−43%−36%
Industry peers (median)+4%−23%−5%−6%−6%−2%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
GPK58%58%58%50%25%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
GPK−14%−17%−25%−14%−49%−47%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 71% from September 19, 2024 to October 12, 2026. Getting back needed a 249% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$8.24 – $16.38
From 52-week high
−43.0%
vs 50-day average
−0.6%
vs 200-day average
−10.8%
Volatility (1 year)
47%
Beta vs S&P 500
0.79

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 7 down
typical move ±7.4%
After a week
4 up, 7 down
typical move ±4.9%
After a month
3 up, 8 down
typical move ±6.2%
Results releasedNext dayS&P 500 next day5 days21 days
August 4, 2026 +4.8% +1.6% +5.4% −3.3%
May 5, 2026 +17.2% +2.2% +5.9% +11.3%
February 3, 2026 −7.3% −1.3% −9.5% −24.8%
November 4, 2025 +8.6% −0.8% +3.0% +0.9%
July 29, 2025 −2.8% −0.4% −3.8% −3.0%
May 1, 2025 −13.8% +2.2% −11.8% −13.4%
February 4, 2025 −2.8% +1.1% −2.6% −1.9%
October 29, 2024 −6.9% −0.1% −7.2% −1.1%
September 3, 2024 −3.5% −2.3% −2.1% −2.8%
July 30, 2024 +7.5% +1.1% +0.9% +4.8%
April 30, 2024 −6.4% −1.9% −1.6% −1.4%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Graphic Packaging Holding Co in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Graphic Packaging Holding Co
$8.5B $9B $9.5B $10B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $9.6B Revenue (TTM), FY23 Q4: $9.4B Revenue (TTM), FY24 Q1: $9.2B Revenue (TTM), FY24 Q2: $9.1B Revenue (TTM), FY24 Q3: $9B Revenue (TTM), FY24 Q4: $8.8B Revenue (TTM), FY25 Q1: $8.7B Revenue (TTM), FY25 Q2: $8.6B Revenue (TTM), FY25 Q3: $8.6B Revenue (TTM), FY25 Q4: $8.6B Revenue (TTM), FY26 Q1: $8.7B Revenue (TTM), FY26 Q2: $8.6B $8.6B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $9.6B
FY23 Q4 $9.4B
FY24 Q1 $9.2B
FY24 Q2 $9.1B
FY24 Q3 $9B
FY24 Q4 $8.8B
FY25 Q1 $8.7B
FY25 Q2 $8.6B
FY25 Q3 $8.6B
FY25 Q4 $8.6B
FY26 Q1 $8.7B
FY26 Q2 $8.6B
Revenue growth, TTM YoY Graphic Packaging Holding Co
-10% -5% 0% 5% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 5.8% Revenue growth, TTM YoY, FY23 Q4: -0.1% Revenue growth, TTM YoY, FY24 Q1: -4.0% Revenue growth, TTM YoY, FY24 Q2: -5.9% Revenue growth, TTM YoY, FY24 Q3: -6.3% Revenue growth, TTM YoY, FY24 Q4: -6.6% Revenue growth, TTM YoY, FY25 Q1: -6.3% Revenue growth, TTM YoY, FY25 Q2: -5.0% Revenue growth, TTM YoY, FY25 Q3: -3.9% Revenue growth, TTM YoY, FY25 Q4: -2.2% Revenue growth, TTM YoY, FY26 Q1: -0.2% Revenue growth, TTM YoY, FY26 Q2: 0.0% 0.0%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 5.8%
FY23 Q4 -0.1%
FY24 Q1 -4.0%
FY24 Q2 -5.9%
FY24 Q3 -6.3%
FY24 Q4 -6.6%
FY25 Q1 -6.3%
FY25 Q2 -5.0%
FY25 Q3 -3.9%
FY25 Q4 -2.2%
FY26 Q1 -0.2%
FY26 Q2 0.0%
Operating margin (TTM) Graphic Packaging Holding Co
4% 6% 8% 10% 12% 14% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 12.0% Operating margin (TTM), FY23 Q4: 12.5% Operating margin (TTM), FY24 Q1: 12.1% Operating margin (TTM), FY24 Q2: 13.0% Operating margin (TTM), FY24 Q3: 13.1% Operating margin (TTM), FY24 Q4: 12.7% Operating margin (TTM), FY25 Q1: 12.3% Operating margin (TTM), FY25 Q2: 10.8% Operating margin (TTM), FY25 Q3: 10.3% Operating margin (TTM), FY25 Q4: 9.3% Operating margin (TTM), FY26 Q1: 7.0% Operating margin (TTM), FY26 Q2: 5.8% 5.8%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 12.0%
FY23 Q4 12.5%
FY24 Q1 12.1%
FY24 Q2 13.0%
FY24 Q3 13.1%
FY24 Q4 12.7%
FY25 Q1 12.3%
FY25 Q2 10.8%
FY25 Q3 10.3%
FY25 Q4 9.3%
FY26 Q1 7.0%
FY26 Q2 5.8%
FCF margin (TTM) Graphic Packaging Holding Co
0% 2% 4% 6% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 5.9% FCF margin (TTM), FY23 Q4: 5.6% FCF margin (TTM), FY24 Q1: 5.0% FCF margin (TTM), FY24 Q2: 4.6% FCF margin (TTM), FY24 Q3: 2.4% FCF margin (TTM), FY24 Q4: 3.2% FCF margin (TTM), FY25 Q1: 1.4% FCF margin (TTM), FY25 Q2: 2.7% FCF margin (TTM), FY25 Q3: 3.3% FCF margin (TTM), FY25 Q4: 3.5% FCF margin (TTM), FY26 Q1: 4.1% FCF margin (TTM), FY26 Q2: 2.7% 2.7%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 5.9%
FY23 Q4 5.6%
FY24 Q1 5.0%
FY24 Q2 4.6%
FY24 Q3 2.4%
FY24 Q4 3.2%
FY25 Q1 1.4%
FY25 Q2 2.7%
FY25 Q3 3.3%
FY25 Q4 3.5%
FY26 Q1 4.1%
FY26 Q2 2.7%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Graphic Packaging Holding took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $8.6B
  2. Cost of revenue $7B · 81.4%
  3. Gross profit $1.6B · 18.6%
  4. Selling, general and admin $704M · 8.2%
  5. Other operating costs $75M · 0.9%
  6. Operating income $804M · 9.3%
  7. Income tax $139M · 1.6%
  8. Interest and other $221M · 2.6%
  9. Net income $444M · 5.2%

Shares of revenue. Source: Graphic Packaging Holding's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 4,096 4,095 4,206 4,337 4,478 4,241 4,160 4,298 4,406 6,029 6,160 6,560 7,156 9,440 9,428 8,807 8,617 8,637
Gross profit — 593 638 720 726 787 789 792 720 952 1,093 1,100 1,071 1,830 2,117 1,962 1,602 1,335
EBITDA 588 508 469 589 619 498 708 707 658 889 981 1,000 896 1,459 1,793 1,676 1,340 1,063
Operating income 283 220 190 322 342 228 427 407 328 458 534 524 407 906 1,174 1,119 804 504
Net income 56 11 277 123 147 90 230 228 300 221 207 167 204 522 723 658 444 194
Diluted EPS $0.16 $0.03 $0.73 $0.31 $0.42 $0.27 $0.70 $0.71 $0.96 $0.71 $0.70 $0.60 $0.68 $1.69 $2.34 $2.16 $1.48 $0.65
Growth (year on year)
Revenue — −0.0% +2.7% +3.1% +3.3% −5.3% −1.9% +3.3% +2.5% +36.9% +2.2% +6.5% +9.1% +31.9% −0.1% −6.6% −2.2% +0.0%
EBITDA — −13.6% −7.8% +25.7% +5.1% −19.6% +42.1% −0.1% −6.9% +35.0% +10.4% +1.9% −10.4% +62.8% +22.9% −6.5% −20.0% −27.6%
Operating income — −22.4% −13.3% +69.4% +6.0% −33.3% +87.5% −4.6% −19.5% +39.7% +16.5% −1.9% −22.3% +122.6% +29.6% −4.7% −28.2% −45.9%
Net income — — — −55.7% +19.6% −38.8% +156.5% −0.9% +31.7% −26.3% −6.4% −19.3% +22.2% +155.9% +38.5% −9.0% −32.5% −63.7%
Diluted EPS — — — −57.5% +35.5% −35.7% +159.3% +1.4% +35.2% −26.0% −1.4% −14.3% +13.3% +148.5% +38.5% −7.7% −31.5% −63.0%
Margins
Gross margin — 14.5% 15.2% 16.6% 16.2% 18.6% 19.0% 18.4% 16.3% 15.8% 17.7% 16.8% 15.0% 19.4% 22.5% 22.3% 18.6% 15.5%
EBITDA margin 14.4% 12.4% 11.1% 13.6% 13.8% 11.7% 17.0% 16.4% 14.9% 14.7% 15.9% 15.2% 12.5% 15.5% 19.0% 19.0% 15.6% 12.3%
Operating margin 6.9% 5.4% 4.5% 7.4% 7.6% 5.4% 10.3% 9.5% 7.4% 7.6% 8.7% 8.0% 5.7% 9.6% 12.5% 12.7% 9.3% 5.8%
Net margin 1.4% 0.3% 6.6% 2.8% 3.3% 2.1% 5.5% 5.3% 6.8% 3.7% 3.4% 2.5% 2.9% 5.5% 7.7% 7.5% 5.2% 2.2%
Free-cash-flow margin 9.1% 5.3% 5.4% 6.1% 5.6% 8.0% 8.7% −4.8% −9.8% −12.5% 10.8% 12.6% 8.5% 11.5% 12.1% 9.5% 9.8% 9.2%
Cash flow
Cash from operations 504 338 388 469 458 527 589 74 −193 −374 666 825 609 1,090 1,144 840 841 793
Capital spending 130 123 160 203 209 187 229 279 241 379 0 0 0 0 0 0 0 0
Free cash flow 374 215 228 265 249 340 360 −205 −433 −753 666 825 609 1,090 1,144 840 841 793
Stock-based pay 6 13 18 28 19 19 20 20 9 14 22 34 27 34 44 62 2 18
Free cash flow after stock pay 368 203 210 238 230 321 340 −225 −442 −766 644 791 582 1,056 1,100 778 839 775
Balance sheet
Cash 150 139 272 52 52 82 55 59 67 71 153 179 172 150 162 157 261 205
Total debt 0 2,579 2,375 2,346 2,266 1,980 1,887 2,152 2,275 2,957 2,860 3,644 5,794 5,253 5,373 5,184 5,571 5,667
Net debt (negative = net cash) −150 2,440 2,103 2,295 2,214 1,898 1,833 2,093 2,207 2,887 2,707 3,465 5,622 5,103 5,211 5,027 5,310 5,462
Diluted shares 345m 347m 382m 396m 350m 331m 331m 322m 312m 310m 295m 280m 298m 310m 309m 305m 300m 297m
Returned to shareholders
Dividends — — — — 0 0 49 64 93 111 113 103 92 92 123 122 128 130
Buybacks 0 0 33 300 200 0 63 165 62 119 129 316 0 28 54 200 150 —
Total returned 0 0 33 300 200 0 112 229 156 230 242 419 92 120 177 322 278 130

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 6 checks passed · June 30, 2026
What it owns · $11.7bn
Short-term assets $3.0bnLonger-term assets $8.6bn
What it owes, and who funded it · $5.4bn
Short-term liabilities $2.2bnShareholders' equity $3.2bn
  • Short-term assets cover short-term liabilities $3.0bn of assets due within a year against $2.2bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $205m of cash against $5.7bn of debt.
  • Debt below 40% of shareholders' equity Debt is 175% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 292% to 175% over five years.
  • A year's operating cash flow covers at least 20% of debt $793m of operating cash flow against $5.7bn of debt.
  • Operating profit covers interest at least five times over Operating income of $504m against $248m of interest.

From Graphic Packaging Holding Co's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Dividends (TTM)
$130M
Buybacks, last 3 fiscal years
$404M
Diluted share count
−1.8%
year over year
Total shareholder yield
4.7%
dividends 4.7% + buybacks 0.0% of market value
Dividend payout ratio
67%
of net income paid out
Sales & admin spending
7.9%
of revenue
Days sales outstanding
25 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in paper & plastic packaging products & materials
Last 12 months unless stated GPK AVY PKG SON AMCR IP Median
Revenue, last 12 months $8.6bn $9.2bn $9.5bn $7.4bn $23.5bn $24.2bn $8.6bn
Revenue growth, last 12 months 0.0% 5.8% 10.3% 3.6% 56.6% 25.4% 3.6%
Revenue growth, 3-year average −3.7% 2.9% 5.9% 18.9% 17.0% 6.1% 6.0%
Revenue growth, latest quarter −0.7% 10.9% 14.7% −4.2% 25.9% −2.2% 1.1%
Gross margin 15.5% 29.0% 20.1% 20.2% 20.0% 29.8% 20.0%
Operating margin 5.8% — 10.9% 2.7% 8.1% 11.1% 4.1%
Operating margin, 3-year average 9.9% — 12.6% 5.3% 7.9% 9.9% 5.7%
Net margin 2.2% 7.6% 7.3% −3.1% 4.7% −14.2% 1.6%
Cash from operations / revenue 9.2% 13.3% 17.0% 8.6% 9.2% 10.9% 9.2%
Free-cash-flow margin 2.7% 11.5% 7.8% 4.8% 5.2% 2.0% 4.8%
Free-cash-flow margin, 3-year average 3.3% 9.0% 7.8% 5.0% 5.6% 2.2% 4.6%
Stock pay / revenue 0.2% 0.3% 0.5% 0.2% 0.4% 0.5% 0.4%
Change in share count −1.8% −3.0% >999% 0.4% −2.9% 25.4% 0.7%

Median of all 11 companies we cover in paper & plastic packaging products & materials. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

11 paper & plastic packaging products & materials companies
Measure Company Peer median Rank
Revenue growth Growth 0.0% 3.6% 9 of 11
Change in growth rate Growth +0.2pp -1.5pp 4 of 11
Gross margin Profitability 15.5% 20.1% 9 of 10
Operating margin Profitability 5.8% 3.5% 3 of 9
Net margin Profitability 2.2% 1.6% 5 of 11
Free-cash-flow margin Cash generation 2.7% 4.8% 9 of 11
Stock pay as % of revenue Cash generation 0.2% 0.4% 1 of 11
Long-term debt as % of assets Balance sheet 43.9% 36.0% 10 of 11
Change in share count Balance sheet -1.8% 1.0% 3 of 9
Days sales outstanding Balance sheet 25 days 55 days 1 of 9

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue YoY
Americas Paperboard Packaging $5.9B ▼ 3.5%
Europe Paperboard Packaging $2.2B ▲ 3.7%

These categories overlap or exclude eliminations, so shares aren't shown.

From Graphic Packaging Holding Co's 10-K filed March 2, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$3.7B
Institutions reporting
499
Shares held vs prior quarter
▲ 5.4%
Positions opened / closed
105 / 49

Top buyers and sellers, Q2 2026: 313 institutions bought and 183 sold ; the biggest buyer was AQR Capital Management LLC (+12.3M shares) and the biggest seller Allspring Global Investments Holdings, LLC (−17.9M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $440M 41.7M 11.8% ▲ 14.5%
Fuller & Thaler Asset Management, Inc. $221M 20.9M 5.9% ▲ 2.8%
AQR Capital Management LLC $214M 20.2M 5.7% ▲ 153.8%
FMR LLC $184M 17.4M 4.9% ▲ 73.7%
Vanguard Portfolio Management LLC $153M 14.4M 4.1% ▼ 0.5%
Vanguard Capital Management LLC $141M 13.4M 3.8% ▲ 0.7%
State Street Corp $112M 10.5M 3.0% ▲ 3.4%
Dme Capital Management, LP $105M 10.0M 2.8% ▲ 9.4%
Manning & Napier Advisors LLC $88.1M 8.3M 2.4% ▼ 2.5%
American Century Companies Inc $87.3M 8.3M 2.3% ▲ 5.8%
Dimensional Fund Advisors LP $86.6M 8.2M 2.3% ▼ 24.6%
Morgan Stanley $76M 7.2M 2.0% ▲ 14.6%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Graphic Packaging Holding Co's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $1.1M 8 trades by 4 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $1.1M net buying
Insider Date Trade Shares Price Value
Stafeil Jeffrey Director May 20, 2026 Buy 16,261 — $0
Hagemann Robert Director May 8, 2026 Buy 14,000 $11.00 $154,000
Stafeil Jeffrey Director May 7, 2026 Buy 17,878 $11.19 $200,058
Rietbroek Robbert President and CEO March 4, 2026 Buy 44,278 $11.32 $501,227
Venturelli Larry M Director March 4, 2026 Buy 10,935 $11.37 $124,331
Venturelli Larry M Director March 4, 2026 Buy 3,896 $11.36 $44,259
Venturelli Larry M Director March 4, 2026 Buy 2,100 $11.36 $23,856
Venturelli Larry M Director March 4, 2026 Buy 600 $11.36 $6,816

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 14 trades and filings

No trades in Graphic Packaging Holding Co disclosed in the last 12 months; 14 earlier trades on record.

  • Lisa C. McClain(R-MI 9):Sale (full), $1,001 - $15,000, traded September 11, 2025, filed October 22, 2025
  • Lisa C. McClain(R-MI 9):Purchase, $1,001 - $15,000, traded June 17, 2025, filed August 13, 2025
  • Robert P. Bresnahan, Jr.(R-PA 8):Sale (full), $1,001 - $15,000, traded January 13, 2025, filed February 13, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 2, 2027 estimated from the company's past filing pattern, not announced

  • November 3, 2026
  • August 4, 2026
  • May 5, 2026
  • February 3, 2026
  • November 4, 2025
  • July 29, 2025

Recent SEC filings

Data status

When each part of this page on Graphic Packaging Holding Co was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Graphic Packaging Holding Co in brief

What does Graphic Packaging Holding Co do?
Graphic Packaging Holding Co is a US-listed company in the paper & plastic packaging products & materials industry. Its financial year ends in December.
What is Graphic Packaging Holding Co's stock ticker?
Graphic Packaging Holding Co trades under the ticker GPK on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Graphic Packaging Holding Co's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Graphic Packaging Holding Co reported revenue of $8.6B, 0.0% higher than a year earlier, according to its SEC filings.
What is Graphic Packaging Holding Co's free cash flow?
Graphic Packaging Holding Co's free-cash-flow margin is 2.7% of revenue over the trailing twelve months, ranking 9 of the 11 paper & plastic packaging products & materials companies we cover.
Who are Graphic Packaging Holding Co's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Fuller & Thaler Asset Management, Inc. and AQR Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Graphic Packaging Holding Co's market cap?
On November 2, 2026, Graphic Packaging Holding Co's market capitalisation was about $2.8B, with a price-to-earnings ratio of 14.3 and net debt of $5.5B. Market figures come from third-party market data and may be delayed.
Does Graphic Packaging Holding Co pay a dividend?
Yes: Graphic Packaging Holding Co paid $130M in dividends over the trailing twelve months, a dividend yield of 4.71% and a payout ratio of 67.0%.
How much debt does Graphic Packaging Holding Co have?
Graphic Packaging Holding Co's debt-to-equity ratio is 175.1%, from its latest balance sheet (291.6% five years earlier). The financial health section below sets out its other solvency checks.
Who are Graphic Packaging Holding Co's competitors?
In our Paper & Plastic Packaging Products & Materials peer group, the companies closest to Graphic Packaging Holding Co are Avery Dennison, Packaging Corporation of America, Sonoco Products Co, Amcor and International Paper. The side-by-side comparison below sets their revenue, margins and growth against Graphic Packaging Holding Co's.
Are insiders buying or selling Graphic Packaging Holding Co stock?
Over the last 12 months, Graphic Packaging Holding Co's directors and officers reported 8 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
When is Graphic Packaging Holding Co's next earnings date?
Around November 3, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Graphic Packaging Holding Co announces its own schedule.