A Business at a Glance
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CROWN HOLDINGS, INC.
CCK
$13.6B
Mkt Cap
$117.88
+2.96%
CROWN HOLDINGS, INC. (CCK) has a current P/E ratio of 18.5, compared to its historical median P/E of 18.3. The stock is currently considered Fair based on its historical valuation range.
CROWN HOLDINGS, INC. (CCK) has a 5-year average return on invested capital (ROIC) of 13.2%. This indicates solid capital allocation.
CROWN HOLDINGS, INC. (CCK) has a market capitalization of $13.3B. It is classified as a large-cap stock.
Yes, CROWN HOLDINGS, INC. (CCK) pays a dividend with a trailing twelve-month yield of 0.97%. The company also returns capital through share buybacks, with a buyback yield of 3.88%.
Based on historical P/E analysis, CROWN HOLDINGS, INC. (CCK) appears fair. The current P/E of 18.5 is 1% above its historical median of 18.3. The estimated fair value CAGR (P/E method) is 5.7%.
CROWN HOLDINGS, INC. (CCK) operates in the Metal Cans industry, within the Industrials sector.
CROWN HOLDINGS, INC. (CCK) reported annual revenue of $12.4 billion in its most recent fiscal year, based on SEC EDGAR filings.
Crown Holdings is a leading global diversified packaging manufacturer founded in 1892 that operates 179 plants across 39 countries with approximately 23,000 employees. The company manufactures metal beverage cans and ends (aluminum and steel) for the beverage, food, and aerosol industries, representing approximately 73% of consolidated net sales, alongside a comprehensive transit packaging business offering automation and equipment technologies, protective packaging solutions, and steel and plastic consumables sold into metals, food and beverage, construction, agricultural, corrugated, and general industries. The company's business model is organized into four reportable segments—Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging—with 61% of 2025 net sales of $12.4 billion derived from operations outside the United States. Crown's beverage can business benefits from the package's disproportionate selection for new product introductions and the company's ability to offer specialty sizes, printing and decorating capabilities, and production-cycle services; the company emphasizes the infinite recyclability of aluminum and steel cans and their role in the circular economy. Transit Packaging operates on a comprehensive solution model combining automation equipment, protective products, and consumables to serve industrial and consumer goods transportation needs globally. The company's competitive positioning is supported by its scale, geographic footprint, manufacturing efficiency, and customer service capabilities, with segment income in 2025 of $1,030 million in Americas Beverage, $334 million in European Beverage, $183 million in Asia Pacific, and $258 million in Transit Packaging.
【Strong demand, cost headwinds ahead】 Management expects North American beverage volumes to grow 2%-3% in 2026, with European beverage continuing to advance and Asia Pacific positioned for growth despite near-term tariff concerns and subdued consumer purchasing power. The company anticipates elevated costs from ocean freight, energy, and direct materials to persist through 2026, with a full-year headwind of $0.10 per share, though management expects cost inflation to begin reversing in the second half of 2026 and anticipates margin recovery as contractual pricing formulas adjust. Capital deployment remains disciplined, with $550 million of capital spending planned for 2026 to support growth projects in Brazil, Greece, Spain, and India, while the company maintains its long-term net leverage target of 2.5 times and continues returning excess cash to shareholders through dividends and share repurchases. Management remains confident in the can's competitive positioning and expects the market to remain tight in North America, supporting pricing and volume opportunities despite consumer sensitivity to inflation.
| Metric | Target | Period |
|---|---|---|
| Adjusted earnings per diluted share | $7.90–$8.30 | FY2026 |
| Free cash flow | approximately $900 million | FY2026 |
| Capital spending | $550 million | FY2026 |
| Net interest expense | approximately $355 million | FY2026 |
| Tax rate | approximately 25% | FY2026 |
| Depreciation | approximately $330 million | FY2026 |
| Share repurchases | approximately $600 million | FY2026 |
| North American beverage volume growth | 2%-3% | FY2026 |
Adjusted earnings per diluted share (FY2026): “Full year is projected to be $7.90- $8.30 per share”
Free cash flow (FY2026): “We maintain our 2026 full year free cash flow guidance of approximately $900 million after $550 million of capital spending”
Capital spending (FY2026): “after $550 million of capital spending to support our growth projects in Brazil, Greece, Spain, and India”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 12.7B | 12.4B | 11.8B | 12.0B | 12.9B | 11.4B |
| Net Income | 720M | 738M | 424M | 450M | 727M | -560M |
| EPS | $6.27 | $6.38 | $3.55 | $3.76 | $5.99 | $-4.30 |
| Free Cash Flow | 995M | 1.1B | 789M | 660M | -36M | 89M |
| ROIC | 12.7% | 14.5% | 11.9% | 10.9% | 12.7% | 16.0% |
| Gross Margin | - | 20.5% | 18.0% | 18.2% | 17.2% | 5.5% |
| Debt/Equity | 2.15 | 1.99 | 2.25 | 3.10 | 3.90 | 3.38 |
| Dividends/Share | $1.15 | $1.04 | $1.00 | $0.96 | $0.88 | $0.80 |
| Operating Income | 1.6B | 1.6B | 1.4B | 1.3B | 1.3B | 1.4B |
| Operating Margin | 12.2% | 12.6% | 12.0% | 10.6% | 10.3% | 12.0% |
| ROE | 24.7% | 25.6% | 16.4% | 21.1% | 38.7% | -27.3% |
| Shares Outstanding | 113M | 116M | 119M | 120M | 121M | 130M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 9.1B | 8.8B | 8.3B | 8.7B | 11.2B | 11.7B | 9.4B | 11.4B | 12.9B | 12.0B | 11.8B | 12.4B | 12.7B |
| Gross Margin | 15.2% | 15.7% | 17.6% | 17.5% | 16.9% | 15.2% | 18.7% | 5.5% | 17.2% | 18.2% | 18.0% | 20.5% | N/A |
| R&D | 39M | 39M | 41M | 39M | 51M | 50M | 48M | 47M | 34M | 33M | 32M | 33M | 33M |
| SG&A | 398M | 390M | 366M | 367M | 558M | 556M | 533M | 583M | 556M | 582M | 597M | 632M | 639M |
| EBIT | 810M | 927M | 997M | 1.0B | 1.1B | 1.0B | 1.0B | 1.4B | 1.3B | 1.3B | 1.4B | 1.6B | 1.6B |
| Op. Margin | 8.9% | 10.6% | 12.0% | 11.8% | 9.8% | 8.8% | 11.2% | 12.0% | 10.3% | 10.6% | 12.0% | 12.6% | 12.2% |
| Net Income | 387M | 393M | 496M | 323M | 439M | 510M | 579M | -560M | 727M | 450M | 424M | 738M | 720M |
| Net Margin | 4.3% | 4.5% | 6.0% | 3.7% | 3.9% | 4.4% | 6.2% | -4.9% | 5.6% | 3.7% | 3.6% | 6.0% | 5.7% |
| Non-Recurring | 21M | 45M | 26M | 18M | 25M | 43M | 19M | 29M | 141M | 95M | 68M | 52M | 16M |
| Returns on Capital | |||||||||||||
| ROIC | 22.0% | 14.5% | 15.7% | 12.0% | 10.7% | 8.8% | 8.2% | 16.0% | 12.7% | 10.9% | 11.9% | 14.5% | 12.7% |
| ROE | 325.2% | 482.2% | 215.7% | 66.8% | 57.1% | 38.5% | 29.6% | -27.3% | 38.7% | 21.1% | 16.4% | 25.6% | 24.7% |
| ROA | 4.0% | 4.0% | 5.0% | 3.2% | 3.4% | 3.6% | 3.9% | -3.7% | 5.2% | 3.1% | 2.9% | 5.2% | 5.0% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 912M | 956M | -134M | -251M | 571M | 1.2B | 1.3B | 905M | 803M | 1.5B | 1.2B | 1.5B | 1.5B |
| Free Cash Flow | 584M | 602M | -607M | -749M | 109M | 772M | 761M | 89M | -36M | 660M | 789M | 1.1B | 995M |
| Owner Earnings | 859M | 889M | -195M | -313M | 396M | 965M | 1.1B | 707M | 314M | 923M | 702M | 1.0B | -8.6B |
| CapEx | 328M | 354M | 473M | 498M | 462M | 391M | 554M | 816M | 839M | 793M | 403M | 413M | 467M |
| Maint. CapEx | 31M | 40M | 41M | 39M | 148M | 169M | 162M | 165M | 460M | 499M | 448M | 456M | 10.0B |
| Growth CapEx | 297M | 314M | 432M | 459M | 314M | 222M | 392M | 651M | 379M | 294M | 0 | 0 | 0 |
| D&A | 31M | 40M | 41M | 39M | 148M | 169M | 162M | 165M | 460M | 499M | 448M | 456M | 10.0B |
| CapEx/OCF | 36.0% | 37.0% | 50.9% | 65.5% | 80.9% | 37.1% | 44.6% | 90.2% | 104.5% | 54.6% | 33.8% | 27.0% | 31.9% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 105M | 106M | 115M | 119M | 120M | 129M |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.8% | 0.9% | 1.2% | 1.2% | 1.1% | 1.0% |
| Share Buybacks | 2.0M | 9.0M | 8.0M | 339M | 4.0M | 7.0M | 66M | 950M | 722M | 12M | 217M | 505M | 514M |
| Buyback Yield | 0.0% | 0.1% | 0.1% | 4.7% | 0.1% | 0.1% | 0.5% | 7.1% | 7.6% | 0.1% | 2.2% | 4.3% | 3.9% |
| Stock-Based Comp | 22M | 27M | 20M | 23M | 27M | 29M | 32M | 33M | 29M | 31M | 42M | 48M | 47M |
| Debt Repayment | 1.8B | 900M | 1.9B | 1.1B | 333M | 2.8B | 269M | 1.8B | 2.3B | 312M | 1.8B | 1.9B | 1.9B |
| Balance Sheet | |||||||||||||
| Net Debt | 3.3B | 4.8B | 4.4B | 4.9B | 8.1B | 7.6B | 7.2B | 5.9B | 6.7B | 6.2B | 5.3B | 5.2B | 5.7B |
| Cash & Equiv. | 965M | 717M | 559M | 424M | 607M | 607M | 1.2B | 531M | 550M | 1.3B | 918M | 764M | 584M |
| Long-Term Debt | 4.9B | 5.3B | 4.7B | 5.2B | 8.5B | 7.8B | 8.0B | 6.1B | 6.8B | 6.7B | 6.1B | 5.4B | 5.7B |
| Debt/Equity | 43.65 | 58.70 | 13.42 | 8.89 | 9.25 | 4.76 | 3.81 | 3.38 | 3.90 | 3.10 | 2.25 | 1.99 | 2.15 |
| Interest Coverage | 3.2 | 3.4 | 4.1 | 4.1 | 2.9 | 2.8 | 3.6 | 5.4 | 4.7 | 2.9 | 3.1 | 3.9 | 3.9 |
| Equity | 119M | 94M | 366M | 601M | 937M | 1.7B | 2.2B | 1.9B | 1.8B | 2.4B | 2.8B | 3.0B | 2.9B |
| Total Assets | 9.6B | 10.1B | 9.6B | 10.7B | 15.3B | 12.7B | 16.7B | 13.9B | 14.3B | 15.0B | 13.8B | 14.3B | 14.3B |
| Total Liabilities | 9.3B | 9.7B | 8.9B | 9.7B | 14.0B | 10.6B | 14.1B | 11.5B | 12.0B | 12.2B | 10.6B | 10.8B | 30M |
| Intangibles | 0 | 575M | 470M | 472M | 2.2B | 2.0B | 1.8B | 1.5B | 1.4B | 1.3B | 1.0B | 959M | 914M |
| Retained Earnings | 1.8B | 2.1B | 2.6B | 3.0B | 3.4B | 4.0B | 4.5B | 3.2B | 3.1B | 3.5B | 3.6B | 3.8B | 3.8B |
| Working Capital | 695M | 141M | -55M | -176M | 166M | 103M | 621M | 362M | 727M | 632M | 746M | 122M | 476M |
| Current Assets | 3.6B | 3.0B | 2.8B | 3.1B | 4.1B | 4.0B | 4.9B | 4.5B | 4.7B | 4.8B | 4.2B | 4.4B | 4.5B |
| Current Liabilities | 2.9B | 2.9B | 2.9B | 3.3B | 3.9B | 3.9B | 4.3B | 4.1B | 3.9B | 4.2B | 3.5B | 4.3B | 4.1B |
| Per Share Data | |||||||||||||
| EPS | 2.79 | 2.82 | 3.56 | 2.38 | 3.28 | 3.78 | 4.30 | -4.30 | 5.99 | 3.76 | 3.55 | 6.38 | 6.27 |
| Owner EPS | 6.19 | 6.38 | -1.40 | -2.31 | 2.96 | 7.15 | 8.33 | 5.43 | 2.59 | 7.71 | 5.88 | 8.87 | -76.26 |
| Book Value | 0.86 | 0.67 | 2.63 | 4.43 | 7.00 | 12.70 | 16.32 | 14.68 | 15.23 | 20.14 | 23.08 | 25.93 | 25.93 |
| Cash Flow/Share | 6.57 | 6.86 | -0.96 | -1.85 | 4.27 | 8.62 | 9.77 | 6.95 | 6.62 | 12.14 | 9.98 | 13.23 | 95.24 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | 0.00 | 0.00 | 0.80 | 0.88 | 0.96 | 1.00 | 1.04 | 1.15 |
| Shares Out. | 138.7M | 139.4M | 139.3M | 135.7M | 133.8M | 134.9M | 134.7M | 130.2M | 121.4M | 119.7M | 119.4M | 115.7M | 112.5M |
| Valuation | |||||||||||||
| P/E Ratio | 17.6 | 17.1 | 14.1 | 22.4 | 11.8 | 18.3 | 21.5 | N/A | 13.1 | 24.2 | 23.1 | 16.1 | 18.8 |
| P/FCF | 11.7 | 11.2 | N/A | N/A | 47.4 | 12.1 | 16.4 | 151.2 | N/A | 16.5 | 12.4 | 10.6 | 13.3 |
| EV/EBIT | 12.5 | 11.7 | 10.6 | 11.5 | 11.5 | 13.6 | 17.6 | 13.8 | 11.7 | 12.6 | 10.1 | 10.6 | 12.2 |
| Price/Book | 57.4 | 71.6 | 19.2 | 12.0 | 5.5 | 5.5 | 5.7 | 7.0 | 5.2 | 4.5 | 3.6 | 4.0 | 4.5 |
| Price/Sales | 0.7 | 0.8 | 0.8 | 0.8 | 0.5 | 0.7 | 0.8 | 1.1 | 0.9 | 0.8 | 0.8 | 0.9 | 1.0 |
| FCF Yield | 8.6% | 8.9% | -8.7% | -10.4% | 2.1% | 8.3% | 6.1% | 0.7% | -0.4% | 6.1% | 8.1% | 9.4% | 7.5% |
| Market Cap | 6.8B | 6.7B | 7.0B | 7.2B | 5.2B | 9.4B | 12.5B | 13.5B | 9.6B | 10.9B | 9.8B | 11.9B | 13.3B |
| Avg. Price | 44.42 | 48.85 | 49.01 | 54.03 | 45.24 | 57.96 | 70.25 | 98.11 | 95.50 | 82.63 | 83.32 | 94.17 | 117.88 |
| Year-End Price | 49.23 | 48.29 | 50.36 | 53.29 | 38.63 | 69.33 | 92.50 | 103.31 | 78.69 | 90.92 | 82.03 | 102.56 | 117.88 |
CROWN HOLDINGS, INC. passes 5 of 9 quality checks, suggesting mixed fundamentals.
CROWN HOLDINGS, INC. trades at 18.5x trailing earnings, compared to its 15-year median P/E of 18.3x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 11.9x vs a median of 14.4x. The company's 5-year average ROIC is 13.2% with a gross margin of 15.9%. Total shareholder yield (dividends + buybacks) is 4.8%. At current prices, the estimated annualized return to fair value is +17.4%.
CROWN HOLDINGS, INC. (CCK) has a net profit margin of 6.0%. This is a modest margin.
CROWN HOLDINGS, INC. (CCK) generated $1.1 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
CROWN HOLDINGS, INC. (CCK) has a debt-to-equity ratio of 1.99. This indicates higher leverage, which may increase financial risk.
CROWN HOLDINGS, INC. (CCK) reported earnings per share (EPS) of $6.38 in its most recent fiscal year.
CROWN HOLDINGS, INC. (CCK) has a return on equity (ROE) of 25.6%. This indicates the company generates strong returns for shareholders.
CROWN HOLDINGS, INC. (CCK) has a 5-year average gross margin of 15.9%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 16 years of financial data for CROWN HOLDINGS, INC. (CCK), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
CROWN HOLDINGS, INC. (CCK) has a book value per share of $25.93, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects North American beverage volumes to grow 2%-3% in 2026, with European beverage continuing to advance and Asia Pacific positioned for growth despite near-term tariff concerns and subdued consumer purchasing power. The company anticipates elevated costs from ocean freight, energy, and direct materials to persist through 2026, with a full-year headwind of $0.10 per share, though management expects cost inflation to begin reversing in the second half of 2026 and anticipates margin recovery as contractual pricing formulas adjust. Capital deployment remains disciplined, with $550 million of capital spending planned for 2026 to support growth projects in Brazil, Greece, Spain, and India, while the company maintains its long-term net leverage target of 2.5 times and continues returning excess cash to shareholders through dividends and share repurchases. Management remains confident in the can's competitive positioning and expects the market to remain tight in North America, supporting pricing and volume opportunities despite consumer sensitivity to inflation.
Based on recent SEC filings and earnings calls, CROWN HOLDINGS, INC. (CCK) has provided the following forward guidance: Adjusted earnings per diluted share: $7.90–$8.30 (FY2026); Free cash flow: approximately $900 million (FY2026); Capital spending: $550 million (FY2026); Net interest expense: approximately $355 million (FY2026); Tax rate: approximately 25% (FY2026), plus 3 additional metrics.
Net interest expense (FY2026): “The adjusted earnings guidance for the full year includes net interest expense of approximately $355 million”
Tax rate (FY2026): “full year tax rate of approximately 25%”
Depreciation (FY2026): “depreciation of approximately $330 million”
Share repurchases (FY2026): “Share repurchases are expected to be approximately $600 million”
North American beverage volume growth (FY2026): “We've left our growth expectations for volume in North America at 2%-3%”
No recent press releases.