Graphic Packaging Holding Company (GPK) vs O-I Glass, Inc. (OI)

Graphic Packaging Holding Company and O-I Glass, Inc. are both Packaging & Containers companies. Graphic Packaging Holding Company is the larger, with a market value of $3.4B against $829.8M — 4.1× the size. O-I Glass, Inc. has negative trailing earnings, so its P/E is not meaningful; Graphic Packaging Holding Company trades at 45.4×. Graphic Packaging Holding Company grew revenue faster over the last twelve months: 0.35% against −1.94%. Graphic Packaging Holding Company has the higher net margin (0.86% vs −18.9%) and the lower return on invested capital (2.77% vs 5.45%). Across the 20 metrics below, Graphic Packaging Holding Company leads on 12 and O-I Glass, Inc. on 8.

Valuation

Metric GPK OI Packaging & Containers median
P/E 45.38 n/m 20.50
P/S 0.40 0.13 0.84
P/B 1.07 1.54 1.81
Price to free cash flow 8.24 n/m 13.39
EV/EBITDA 8.91 2.93 9.53
EV/Sales 0.99 0.83 1.39
Earnings yield 2.20% (145.07%) 2.89%
Free cash flow yield 12.13% (5.57%) 5.42%

Profitability

Metric GPK OI Packaging & Containers median
Gross margin 13.98% 13.24% 20.09%
Operating margin 4.29% 6.74% 6.42%
Net margin 0.86% (18.89%) 3.43%
Free cash flow margin 4.80% (0.73%) 4.78%
Return on equity 2.28% (125.56%) 2.28%
Return on assets 0.63% (13.86%) 1.04%
Return on invested capital 2.77% 5.45% 4.57%

Growth

Metric GPK OI Packaging & Containers median
Revenue growth (TTM) 0.35% (1.94%) 4.05%
EPS growth (last fiscal year) (31.48%) (21.74%) 0.69%
Revenue growth, 5-year CAGR 5.61% 1.08% 5.66%
Net income growth, 5-year CAGR 21.60% 0.00% 0.00%

Health

Metric GPK OI Packaging & Containers median
Debt to equity 1.71 8.84 0.79
Current ratio 1.19 1.28 1.29
Net debt to EBITDA 3.95 3.69 2.59

Dividend

Metric GPK OI Packaging & Containers median
Dividend yield 3.82% — 3.38%
Payout ratio 1.73 — 0.60

Size

Metric GPK OI Packaging & Containers median
Market cap 3.42b 829.76m 3.71b

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