Graphic Packaging Holding Co. (GPK) financial statements: income statement, balance sheet and cash flow

Graphic Packaging Holding Co.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Graphic Packaging Holding Co. reported revenue of $8.6B (-2.2% year on year) and net income of $444.0M (-32.5% year on year).

Income statement

Graphic Packaging Holding Co. income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net Sales	$8.6B	$8.8B	$9.4B	$9.4B
Cost of Sales	$7.0B	$6.8B	$7.3B	$7.6B
Selling, General and Administrative	$704.0M	$774.0M	$805.0M	$774.0M
Other Expense, Net	$53.0M	$64.0M	$64.0M	$19.0M
Business Combinations, Exit Activities and Other Special Items, Net	$41.0M	$5.0M	$74.0M	—
Income from Operations	$804.0M	$1.1B	$1.2B	$906.0M
Nonoperating Pension and Postretirement Benefit Expense	($2.0M)	($3.0M)	($3.0M)	$7.0M
Interest Expense, Net	($220.0M)	($230.0M)	($239.0M)	($197.0M)
Income before Income Taxes and Equity Income of Unconsolidated Entity	$582.0M	$886.0M	$932.0M	$716.0M
Income Tax Expense	($139.0M)	($229.0M)	($210.0M)	($194.0M)
Income before Equity Income of Unconsolidated Entity	$443.0M	$657.0M	$722.0M	$522.0M
Equity Income of Unconsolidated Entity	$1.0M	$1.0M	$1.0M	$0
Net Income	$444.0M	$658.0M	$723.0M	$522.0M
Net Income Per Share — Basic (in dollars per share)	$1.48	$2.16	$2.35	$1.69
Net Income Per Share — Diluted (in dollars per share)	$1.48	$2.16	$2.34	$1.69

Graphic Packaging Holding Co. income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Net Sales	$2.2B	$2.2B	$2.2B	$2.2B
Cost of Sales	$1.9B	$1.9B	$1.8B	$1.8B
Selling, General and Administrative	$180.0M	$202.0M	$163.0M	$204.0M
Other Expense, Net	$11.0M	$14.0M	$15.0M	$10.0M
Business Combinations, Exit Activities and Other Special Items, Net	$6.0M	$71.0M	$22.0M	$13.0M
Income from Operations	$95.0M	$19.0M	$234.0M	$193.0M
Nonoperating Pension and Postretirement Benefit Expense	($1.0M)	—	$0	($1.0M)
Interest Expense, Net	($68.0M)	($64.0M)	($53.0M)	($53.0M)
Income (Loss) before Income Taxes	$26.0M	($45.0M)	$181.0M	$139.0M
Income Tax Expense	($2.0M)	$2.0M	($40.0M)	($35.0M)
Net Income (Loss)	$24.0M	($43.0M)	—	$104.0M
Net Income (Loss) Per Share - Basic (in dollars per share)	$0.08	-$0.14	$0.48	$0.35
Net Income (Loss) Per Share - Diluted (in dollars per share)	$0.08	-$0.14	$0.48	$0.34

Balance sheet

Graphic Packaging Holding Co. balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and Cash Equivalents	$261.0M	$157.0M	$162.0M	$150.0M
Receivables, Net	$760.0M	$759.0M	$835.0M	$879.0M
Inventories, Net	$1.8B	$1.8B	$1.8B	$1.6B
Assets Held for Sale	$10.0M	$15.0M	—	—
Other Current Assets	$126.0M	$99.0M	$94.0M	$71.0M
Total Current Assets	$2.9B	$2.8B	$2.8B	$2.7B
Property, Plant and Equipment, Net	$5.7B	$5.3B	$5.0B	$4.6B
Goodwill	$2.1B	$2.0B	$2.1B	$2.0B
Intangible Assets, Net	$670.0M	$667.0M	$820.0M	$717.0M
Other Assets	$448.0M	$442.0M	$415.0M	$347.0M
Total Assets	$11.8B	$11.1B	$11.2B	$10.3B
Short-Term Debt and Current Portion of Long-Term Debt	$549.0M	$39.0M	$764.0M	$53.0M
Accounts Payable	$1.0B	$1.1B	$1.1B	$1.1B
Compensation and Employee Benefits	$180.0M	$176.0M	$273.0M	$295.0M
Interest Payable	$75.0M	$73.0M	$63.0M	$51.0M
Other Accrued Liabilities	$413.0M	$499.0M	$395.0M	$411.0M
Total Current Liabilities	$2.2B	$1.9B	$2.6B	$1.9B
Long-Term Debt	$5.0B	$5.1B	$4.6B	$5.2B
Deferred Income Tax Liabilities	$688.0M	$613.0M	$731.0M	$668.0M
Accrued Pension and Postretirement Benefits	$93.0M	$94.0M	$104.0M	$111.0M
Other Noncurrent Liabilities	$391.0M	$376.0M	$360.0M	$266.0M
Total Equity	$3.3B	$3.0B	$2.8B	$2.1B
Total Liabilities and Shareholders' Equity	$11.8B	$11.1B	$11.2B	$10.3B
Preferred stock, shares outstanding (in shares)	0	—	—	—
Preferred stock, shares issued (in shares)	0	—	—	—
Preferred Stock, par value $0.01 per share; 100,000,000 shares authorized; no shares issued or outstanding	$0.00	$0.00	$0.00	$0.00
Common Stock, par value $0.01 per share; 1,000,000,000 shares authorized; 295,128,049 and 300,163,372 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively	$3000000.00	$3000000.00	$3000000.00	$3000000.00
Capital in Excess of Par Value	$2.0B	$2.1B	$2.1B	$2.1B
Retained Earnings	$1.6B	$1.4B	$1.0B	$469.0M
Accumulated Other Comprehensive Loss	($262.0M)	($455.0M)	($313.0M)	($377.0M)
Total Graphic Packaging Holding Company Shareholders' Equity	$3.3B	$3.0B	$2.8B	$2.1B
Noncontrolling Interest	$1.0M	$1.0M	$1.0M	$1.0M

Graphic Packaging Holding Co. balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and Cash Equivalents	$205.0M	$189.0M	$120.0M	$120.0M
Receivables, Net	$888.0M	$861.0M	$908.0M	$866.0M
Inventories, Net	$1.7B	$1.7B	$1.8B	$1.8B
Assets Held for Sale	$8.0M	$19.0M	$15.0M	$18.0M
Other Current Assets	$220.0M	$168.0M	$186.0M	$159.0M
Total Current Assets	$3.0B	$3.0B	$3.0B	$3.0B
Property, Plant and Equipment, Net	$5.5B	$5.6B	$5.7B	$5.6B
Goodwill	$2.0B	$2.1B	$2.1B	$2.1B
Intangible Assets, Net	$626.0M	$644.0M	$683.0M	$698.0M
Other Assets	$442.0M	$458.0M	$455.0M	$468.0M
Total Assets	$11.7B	$11.7B	$11.9B	$11.8B
Short-Term Debt and Current Portion of Long-Term Debt	$552.0M	$549.0M	$446.0M	$443.0M
Accounts Payable	$955.0M	$895.0M	$857.0M	$977.0M
Compensation and Employee Benefits	$212.0M	$197.0M	$205.0M	$188.0M
Interest Payable	$69.0M	$47.0M	$51.0M	$70.0M
Liabilities Held for Sale	$2.0M	$6.0M	—	—
Other Accrued Liabilities	$394.0M	$404.0M	$386.0M	$385.0M
Total Current Liabilities	$2.2B	$2.1B	$2.0B	$2.1B
Long-Term Debt	$5.1B	$5.2B	$5.5B	$5.4B
Deferred Income Tax Liabilities	$681.0M	$675.0M	$698.0M	$626.0M
Accrued Pension and Postretirement Benefits	$88.0M	$91.0M	$95.0M	$99.0M
Other Noncurrent Liabilities	$355.0M	$375.0M	$376.0M	$387.0M
Preferred Stock, par value $0.01 per share; 100,000,000 shares authorized; no shares issued or outstanding	$0.00	$0.00	$0.00	$0.00
Common Stock, par value $0.01 per share; 1,000,000,000 shares authorized; 296,054,676 and 295,128,049 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	$3000000.00	$3000000.00	$3000000.00	$3000000.00
Capital in Excess of Par Value	$2.0B	$2.0B	$2.0B	$2.0B
Retained Earnings	$1.5B	$1.5B	$1.6B	$1.5B
Accumulated Other Comprehensive Loss	($291.0M)	($284.0M)	($272.0M)	($269.0M)
Total Graphic Packaging Holding Company Shareholders' Equity	$3.2B	$3.2B	$3.3B	$3.2B
Noncontrolling Interest	$1.0M	$1.0M	$1.0M	$1.0M
Total Equity	$3.2B	$3.2B	$3.3B	$3.2B
Total Liabilities and Shareholders' Equity	$11.7B	$11.7B	$11.9B	$11.8B

Cash flow statement

Graphic Packaging Holding Co. cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net Income	$444.0M	$658.0M	$723.0M	$522.0M
Depreciation and Amortization	$536.0M	$557.0M	$619.0M	$553.0M
Amortization of Deferred Debt Issuance Costs	$6.0M	$6.0M	$6.0M	$9.0M
Deferred Income Taxes	$107.0M	($119.0M)	$22.0M	$131.0M
Amount of Postretirement Expense Less Than Funding	($5.0M)	($3.0M)	($5.0M)	—
Gain on Disposal of Business	$0	($75.0M)	—	—
Asset Impairment Charges	$0	$0	$29.0M	$96.0M
Share-Based Compensation Expense, Net	$2.0M	$62.0M	—	—
Other, Net	($36.0M)	$23.0M	$58.0M	$15.0M
Changes in Operating Assets and Liabilities, Net of Acquisitions (See Note 3)	($213.0M)	($269.0M)	($308.0M)	($218.0M)
Net Cash Provided by Operating Activities	$841.0M	$840.0M	$1.1B	$1.1B
Capital Spending	($922.0M)	($1.2B)	($781.0M)	($522.0M)
Acquisition of Businesses, Net of Cash Acquired	($29.0M)	$0	($361.0M)	$0
Proceeds from the Sale of Business and Properties	$45.0M	$711.0M	—	—
Beneficial Interest on Sold Receivables	$275.0M	$250.0M	$184.0M	$125.0M
Beneficial Interest Obtained in Exchange for Proceeds	($104.0M)	($98.0M)	($45.0M)	($6.0M)
Other, Net	$3.0M	($2.0M)	$1.0M	($5.0M)
Net Cash Used in Investing Activities	($732.0M)	($342.0M)	($1.0B)	($435.0M)
Repurchase of Common Stock	($150.0M)	($200.0M)	($54.0M)	($28.0M)
Payments on Debt	($14.0M)	($23.0M)	($26.0M)	($14.0M)
Proceeds from Issuance of Debt	$99.0M	$750.0M	$0	$0
Retirement of Long-Term Debt	$0	($700.0M)	$0	($250.0M)
Borrowings under Revolving Credit Facilities	$3.4B	$4.6B	$4.4B	$3.9B
Payments on Revolving Credit Facilities	($3.2B)	($4.7B)	($4.3B)	($4.2B)
Debt Issuance Costs	($2.0M)	($9.0M)	$0	$0
Repurchase of Common Stock related to Share-Based Payments	($34.0M)	($25.0M)	($22.0M)	($18.0M)
Dividends Paid	($128.0M)	($122.0M)	($123.0M)	($92.0M)
Other, Net	($15.0M)	$3.0M	($16.0M)	$2.0M
Net Cash Used in Financing Activities	($18.0M)	($489.0M)	($106.0M)	($666.0M)
Increase in cash and cash equivalents, including cash classified within assets held for sale	$91.0M	$9.0M	$13.0M	—
Less: Cash reclassified to Assets Held for Sale	$0	$1.0M	$0	—
Effect of Exchange Rate Changes on Cash	$13.0M	($15.0M)	($1.0M)	($6.0M)
Net Increase (Decrease) in Cash and Cash Equivalents	$104.0M	($5.0M)	$12.0M	($17.0M)
Cash and Cash Equivalents at Beginning of Year	$157.0M	$162.0M	$150.0M	$172.0M
Cash and Cash Equivalents at End of Year	$261.0M	$157.0M	$162.0M	—
Beneficial Interest Obtained in Exchange for Trade Receivables	$159.0M	$160.0M	$141.0M	—
Right-of-Use Assets Obtained in Exchange for New Operating Lease Liabilities	$86.0M	$104.0M	$70.0M	$52.0M
Right-of-Use Assets Obtained in Exchange for New Finance Lease Liabilities	$0	$1.0M	$0	$42.0M

Graphic Packaging Holding Co. cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net Income (Loss)	($19.0M)	($43.0M)	$373.0M	$231.0M
Depreciation and Amortization	$284.0M	$139.0M	$387.0M	$261.0M
Amortization of Deferred Debt Issuance Costs	$3.0M	$2.0M	$4.0M	$3.0M
Deferred Income Taxes	($7.0M)	($12.0M)	$91.0M	$16.0M
Amount of Postretirement Expense Less Than Funding	($1.0M)	($1.0M)	($5.0M)	—
Share-Based Compensation Expense, Net	$18.0M	$12.0M	$0	($1.0M)
Asset Impairment Charges	$53.0M	$53.0M	—	—
Other, Net	($2.0M)	($5.0M)	($10.0M)	($13.0M)
Changes in Operating Assets and Liabilities	($284.0M)	($258.0M)	($520.0M)	($404.0M)
Net Cash Provided by Operating Activities	$45.0M	($113.0M)	$320.0M	($93.0M)
Capital Spending	($223.0M)	($140.0M)	($808.0M)	($541.0M)
Acquisition of Businesses	$0	$0	($29.0M)	($29.0M)
Proceeds from the Sale of Business and Properties, Net of Cash and Cash Equivalents Sold	$8.0M	—	$15.0M	$12.0M
Beneficial Interest on Sold Receivables	$240.0M	$137.0M	$170.0M	$110.0M
Beneficial Interest Obtained in Exchange for Proceeds	($164.0M)	($92.0M)	($79.0M)	($54.0M)
Other, Net	$6.0M	($2.0M)	($5.0M)	($3.0M)
Net Cash Used in Investing Activities	($133.0M)	($97.0M)	($736.0M)	($505.0M)
Repurchase of Common Stock	$0	—	($150.0M)	($110.0M)
Proceeds from Issuance of Debt	$544.0M	—	$99.0M	$99.0M
Payments on Debt	($9.0M)	($5.0M)	($9.0M)	($6.0M)
Retirement of Long-Term Debt	($400.0M)	—	$0	$0
Borrowings under Revolving Credit Facilities	$1.8B	$817.0M	$2.8B	$2.1B
Payments on Revolving Credit Facilities	($1.8B)	($618.0M)	($2.3B)	($1.6B)
Repurchase of Common Stock related to Share-Based Payments	($4.0M)	($4.0M)	($34.0M)	($32.0M)
Debt Issuance Costs	($4.0M)	($3.0M)	($1.0M)	($1.0M)
Dividends Paid	($65.0M)	($32.0M)	($96.0M)	($63.0M)
Other, Net	($12.0M)	($17.0M)	($6.0M)	($3.0M)
Net Cash Provided by Financing Activities	$32.0M	$138.0M	$366.0M	$362.0M
Decrease in Cash and Cash Equivalents	($56.0M)	($72.0M)	($50.0M)	($50.0M)
Effect of Exchange Rate Changes on Cash	$0	$0	$13.0M	$13.0M
Net Decrease in Cash and Cash Equivalents	($56.0M)	($72.0M)	($37.0M)	($37.0M)
Cash and Cash Equivalents at Beginning of Period	$261.0M	—	—	$157.0M
Cash and Cash Equivalents at End of Period	$205.0M	$189.0M	$120.0M	$120.0M
Beneficial Interest Obtained in Exchange for Trade Receivables	$152.0M	$75.0M	$122.0M	$86.0M
Right-of-Use Assets Obtained in Exchange for New Operating Lease Liabilities	$64.0M	$61.0M	$32.0M	$26.0M

Graphic Packaging Holding Co. score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.