Latest Ratios: P/E Ratio 7.2x · EV/EBITDA 6.0x · ROE 14.0%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3.1B | $4.5B | $8.3B | $7.6B | $6.9B | $5.8B | $4.7B | $4.9B | $3.3B | $4.8B | $4.0B |
| Enterprise Value | $8.4B | $9.8B | $13.6B | $13.1B | $12.2B | $11.7B | $8.4B | $7.8B | $6.2B | $7.0B | $6.1B |
| P/E Ratio → | 7.17 | 10.18 | 12.57 | 10.53 | 13.17 | 28.68 | 28.23 | 23.79 | 14.99 | 16.09 | 17.58 |
| P/S Ratio | 0.36 | 0.52 | 0.94 | 0.81 | 0.73 | 0.81 | 0.72 | 0.80 | 0.55 | 1.09 | 0.93 |
| P/B Ratio | 0.94 | 1.34 | 2.75 | 2.74 | 3.20 | 3.07 | 2.57 | 2.08 | 1.44 | 3.73 | 3.80 |
| P/FCF | — | — | — | 22.41 | 12.73 | — | 26.46 | 15.68 | — | 18.82 | 11.57 |
| P/OCF | 3.68 | 5.24 | 9.86 | 6.66 | 6.32 | 9.54 | 5.74 | 7.37 | — | 9.34 | 6.26 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.14 | 1.54 | 1.39 | 1.30 | 1.63 | 1.28 | 1.27 | 1.03 | 1.60 | 1.42 |
| EV / EBITDA | 6.01 | 6.96 | 7.94 | 6.70 | 7.69 | 11.25 | 7.63 | 7.69 | 6.87 | 9.95 | 8.16 |
| EV / EBIT | 9.72 | 12.15 | 12.16 | 11.14 | 13.41 | 28.81 | 23.00 | 15.86 | 13.10 | 20.47 | 15.50 |
| EV / FCF | — | — | — | 38.47 | 22.62 | — | 47.07 | 24.99 | — | 27.43 | 17.60 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 18.7% | 18.7% | 22.7% | 23.3% | 19.3% | 15.1% | 17.3% | 17.8% | 15.8% | 16.3% | 18.7% |
| Operating Margin | 10.1% | 10.1% | 13.1% | 14.1% | 11.0% | 7.7% | 9.6% | 9.3% | 7.8% | 8.5% | 10.4% |
| Net Profit Margin | 5.2% | 5.2% | 7.5% | 7.7% | 5.5% | 2.9% | 2.6% | 3.4% | 3.7% | 6.8% | 5.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 14.0% | 14.0% | 22.7% | 29.3% | 25.8% | 10.9% | 8.0% | 8.9% | 12.4% | 25.6% | 21.1% |
| ROA | 3.9% | 3.9% | 5.9% | 6.7% | 5.0% | 2.2% | 2.2% | 2.9% | 3.7% | 6.3% | 5.1% |
| ROIC | 7.7% | 7.7% | 10.4% | 12.7% | 10.2% | 6.2% | 8.7% | 8.2% | 8.1% | 8.5% | 11.1% |
| ROCE | 9.3% | 9.3% | 12.9% | 15.7% | 12.4% | 7.7% | 10.4% | 9.5% | 9.5% | 9.6% | 12.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.67 | 1.67 | 1.81 | 2.02 | 2.56 | 3.20 | 2.10 | 1.30 | 1.29 | 1.76 | 2.04 |
| Debt / EBITDA | 3.97 | 3.97 | 3.19 | 2.88 | 3.46 | 5.83 | 3.50 | 3.01 | 3.29 | 3.22 | 2.88 |
| Net Debt / Equity | — | 1.59 | 1.76 | 1.96 | 2.49 | 3.11 | 2.00 | 1.23 | 1.26 | 1.71 | 1.98 |
| Net Debt / EBITDA | 3.78 | 3.78 | 3.10 | 2.80 | 3.36 | 5.66 | 3.34 | 2.86 | 3.21 | 3.13 | 2.80 |
| Debt / FCF | — | — | — | 16.06 | 9.89 | — | 20.61 | 9.31 | — | 8.62 | 6.03 |
| Interest Coverage | 3.63 | 3.63 | 4.86 | 4.91 | 4.63 | 3.30 | 2.84 | 3.50 | 3.82 | 3.83 | 5.14 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.30 | 1.30 | 1.46 | 1.10 | 1.40 | 1.22 | 1.09 | 1.51 | 1.54 | 1.37 | 1.43 |
| Quick Ratio | 0.52 | 0.52 | 0.54 | 0.42 | 0.57 | 0.54 | 0.48 | 0.59 | 0.62 | 0.63 | 0.68 |
| Cash Ratio | 0.12 | 0.12 | 0.08 | 0.06 | 0.08 | 0.08 | 0.10 | 0.13 | 0.06 | 0.08 | 0.08 |
| Asset Turnover | — | 0.73 | 0.79 | 0.84 | 0.91 | 0.68 | 0.84 | 0.85 | 0.87 | 0.91 | 0.93 |
| Inventory Turnover | 4.00 | 4.00 | 3.88 | 4.12 | 4.74 | 4.38 | 4.81 | 4.62 | 5.01 | 5.81 | 5.99 |
| Days Sales Outstanding | — | 32.19 | 31.46 | 27.72 | 31.09 | 40.04 | 33.22 | 26.73 | 30.89 | 35.04 | 36.24 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 4.1% | 2.9% | 1.5% | 1.6% | 1.3% | 1.6% | 2.2% | 2.3% | 3.4% | 1.9% | 1.6% |
| Payout Ratio | 28.8% | 28.8% | 18.5% | 17.0% | 17.6% | 45.1% | 61.4% | 54.5% | 50.2% | 31.1% | 28.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 13.9% | 9.8% | 8.0% | 9.5% | 7.6% | 3.5% | 3.5% | 4.2% | 6.7% | 6.2% | 5.7% |
| FCF Yield | — | — | — | 4.5% | 7.9% | — | 3.8% | 6.4% | — | 5.3% | 8.6% |
| Buyback Yield | 5.9% | 4.1% | 2.7% | 1.0% | 0.7% | 0.3% | 6.7% | 2.6% | 3.7% | 1.5% | 4.4% |
| Total Shareholder Yield | 9.9% | 7.0% | 4.2% | 2.6% | 2.0% | 1.8% | 8.8% | 4.9% | 7.1% | 3.4% | 6.0% |
| Shares Outstanding | — | $297M | $305M | $309M | $310M | $298M | $280M | $295M | $310M | $312M | $322M |
High leverage amid contraction
According to current market data, GPK trades at a forward P/E of 12.91 and an EV/EBITDA of 6.10, suggesting that investors are pricing in significant long-term margin compression rather than the growth potential typically associated with the company's proprietary packaging machinery and vertical integration strategy.
The valuation discount relative to peers like Packaging Corporation of America suggests the market views GPK's earnings as lower quality due to its higher debt load and capital intensity. Investors should monitor whether the current P/S of 0.38 represents a value opportunity or a justified reflection of the company's inability to convert revenue into consistent shareholder returns.
Based on reported figures, GPK's ROIC has trended downward from 3.0% in 2023Q4 to a marginal 0.2% in 2026Q1, indicating that the company's massive investments in mill modernization are currently failing to generate returns that exceed the cost of capital required to maintain such an asset-heavy footprint.
The decay in ROIC suggests that the company's strategy of scaling through large-scale mill upgrades is not yet yielding the expected efficiency gains. This trend warrants further investigation into whether the current capital allocation strategy is fundamentally flawed or merely suffering from a temporary cyclical trough in demand.
As reported in recent financial statements, the company's cash conversion cycle has remained elevated, with DIO consistently hovering near 90 days, which highlights significant operational friction in managing inventory levels across its vertically integrated mill and packaging segments during a period of softening consumer demand.
The inability to compress the cash conversion cycle suggests that GPK lacks the leverage to optimize its supply chain effectively against its CPG customers. This inefficiency ties up critical liquidity that could otherwise be used to service the company's substantial debt obligations.
According to quarterly filings, GPK's debt-to-EBITDA ratio has climbed to 18.27 as of 2025Q4, a level that appears increasingly unsustainable and suggests that the company's interest coverage is becoming dangerously thin in the current high-interest-rate environment, potentially limiting future strategic M&A activity.
The high leverage ratio relative to historical norms indicates that the company is highly sensitive to interest rate fluctuations and operational volatility. Investors should monitor the company's ability to refinance upcoming maturities, as the current balance sheet structure leaves little room for further earnings contraction.
The P/E ratio is frequently misapplied to GPK because it obscures the massive impact of non-cash depreciation and amortization charges inherent in the company's capital-intensive mill operations, which often leads to a distorted view of the firm's actual cash-generating capacity and underlying operational health.
Analysts should prioritize EV/EBITDA or P/FCF over P/E to better account for the company's significant debt load and the heavy capital expenditures required to maintain its proprietary machinery. Relying on P/E ignores the structural reality that GPK is a capital-intensive manufacturer rather than a high-margin service provider.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying GPK stock.
Graphic Packaging Holding Company's current P/E ratio is 7.2x. The historical average is 24.3x. This places it at the 10th percentile of its historical range.
Graphic Packaging Holding Company's current EV/EBITDA is 6.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.5x.
Graphic Packaging Holding Company's return on equity (ROE) is 14.0%. The historical average is 1.6%.
Based on historical data, Graphic Packaging Holding Company is trading at a P/E of 7.2x. This is at the 10th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Graphic Packaging Holding Company's current dividend yield is 4.06% with a payout ratio of 28.8%.
Graphic Packaging Holding Company has 18.7% gross margin and 10.1% operating margin. Operating margin between 10-20% is typical for established companies.
Graphic Packaging Holding Company's Debt/EBITDA ratio is 4.0x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.