Graphic Packaging Holding Co income statement
In fiscal 2025, Graphic Packaging Holding Co reported revenue of $8.62bn, down 2.2% on the year before, operating income of $804m (a 9.3% margin) and net income of $444m, or $1.48 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| Cost of revenue | — | — | — | — | — | — | — | 3,497 | 3,696 | 5,077 | 5,068 | 5,460 | 6,085 | 7,610 | 7,311 | 6,845 | 7,015 | 7,302 |
| 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 |
| Research and development | 7 | 13 | 16 | 16 | 17 | 15 | 14 | 15 | 14 | 9 | 9 | 10 | 10 | 14 | 16 | 17 | 19 | — |
| Selling, general and administrative | 315 | 320 | 342 | 378 | 384 | 366 | 348 | 353 | 348 | 472 | 512 | 513 | 528 | 774 | 805 | 774 | 704 | 686 |
| Operating income | 283 | 220 | 190 | 322 | 342 | 228 | 427 | 407 | 328 | 458 | 534 | 524 | 407 | 906 | 1,174 | 1,119 | 804 | 504 |
| Interest expense | 196 | 175 | 145 | 111 | 102 | 81 | 68 | 77 | 90 | 124 | 141 | 129 | 123 | 197 | 239 | 230 | 220 | 248 |
| Income before tax | 79 | 37 | 43 | 200 | 213 | 133 | 359 | 319 | 253 | 348 | 354 | 244 | 289 | 716 | 932 | 886 | 582 | 254 |
| Income tax | 24 | 28 | −230 | 83 | 67 | 45 | 130 | 93 | −46 | 55 | 76 | 42 | 74 | 194 | 210 | 229 | 139 | 61 |
| 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 |
| Diluted shares (average) | 345m | 347m | 382m | 396m | 350m | 331m | 331m | 322m | 312m | 310m | 295m | 280m | 298m | 310m | 309m | 305m | 300m | 297m |
| 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 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,216 | 2,095 | 2,120 | 2,204 | 2,190 | 2,103 | 2,156 | 2,188 |
| Cost of revenue | 1,714 | 1,642 | 1,675 | 1,784 | 1,756 | 1,800 | 1,850 | 1,896 |
| Gross profit | 502 | 453 | 445 | 420 | 434 | 303 | 306 | 292 |
| Selling, general and administrative | 191 | 171 | 196 | 204 | 163 | 141 | 202 | 180 |
| Operating income | 278 | 239 | 221 | 193 | 234 | 156 | 19 | 95 |
| Interest expense | 58 | 53 | 51 | 53 | 53 | 63 | 64 | 68 |
| Income before tax | 219 | 185 | 170 | 139 | 181 | 92 | −45 | 26 |
| Income tax | 55 | 47 | 43 | 35 | 40 | 21 | −2 | 2 |
| Net income | 165 | 138 | 127 | 104 | 142 | 71 | −43 | 24 |
| Diluted EPS | $0.55 | $0.46 | $0.42 | $0.34 | $0.48 | $0.24 | −$0.14 | $0.08 |
| EBITDA | 417 | 376 | 352 | 323 | 360 | 305 | 158 | 240 |
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