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Packaging & containers · Consumer Cyclical · Fiscal year ends Dec 31
Silgan reported revenue of $6.5B in the fiscal year ended Dec 2025, up 10.7% from the year before. Operating income was $598M, an operating margin of 9.2%, and net income was $288M. Operating cash flow of $730M less capital expenditure of $307M left free cash flow of $423M. Net debt was $3.3B.
Ranks among the 12 packaging & containers companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 5,677 | 6,411 | 5,988 | 5,855 | 6,483 |
| Cost of revenue | 4,759 | 5,364 | 4,996 | 4,843 | 5,334 |
| Gross profit | 918 | 1,048 | 993 | 1,012 | 1,149 |
| Selling, general & admin | 378 | 417 | 384 | 438 | 493 |
| Operating incomederived: pre-tax income + interest | 575 | 600 | 595 | 514 | 598 |
| Interest expense | 108 | 126 | 173 | 166 | 189 |
| Pre-tax income | 466 | 474 | 422 | 348 | 409 |
| Income tax | 107 | 133 | 96.2 | 72.0 | 123 |
| Net income | 359 | 341 | 326 | 276 | 288 |
| Diluted EPS | 3.23 | 3.07 | 2.98 | 2.58 | 2.70 |
| Diluted shares | 111 | 111 | 109 | 107 | 107 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 631 | 586 | 643 | 823 | 1,081 |
| Receivables | 711 | 658 | 600 | 594 | 589 |
| Inventory | 799 | 769 | 941 | 928 | 1,080 |
| Current assets | 2,296 | 2,133 | 2,349 | 2,523 | 2,992 |
| Net PP&E | 1,994 | 1,931 | 1,962 | 2,283 | 2,378 |
| Goodwill | 2,038 | 1,985 | 2,018 | 2,316 | 2,487 |
| Total assets | 7,771 | 7,346 | 7,611 | 8,585 | 9,397 |
| Payables | 1,133 | 974 | 1,076 | 1,112 | 1,252 |
| Current liabilities | 1,509 | 1,438 | 2,312 | 2,248 | 2,452 |
| Short-term debt | 20.3 | 80.1 | 880 | 717 | 632 |
| Long-term debt | 3,773 | 3,345 | 2,546 | 3,420 | 3,715 |
| Total liabilities | 6,208 | 5,628 | 5,722 | 6,595 | 7,123 |
| Shareholders' equity | 1,563 | 1,718 | 1,889 | 1,990 | 2,274 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 557 | 748 | 483 | 722 | 730 |
| Capital expenditure | 232 | 216 | 227 | 263 | 307 |
| Free cash flow | 325 | 533 | 256 | 459 | 423 |
| Depreciation & amortisation | 250 | 263 | 263 | 276 | 319 |
| Stock-based compensation | – | – | 15.6 | 15.5 | 18.0 |
| Acquisitions | 746 | 2.5 | 0.0 | 922 | 0.0 |
| Share buybacks | 8.6 | 45.1 | 184 | 9.3 | 74.9 |
| Dividends paid | 62.5 | 71.9 | 78.9 | 82.1 | 85.8 |
| Dividend per share | 0.56 | 0.64 | 0.72 | 0.76 | 0.80 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 12.9% | −6.6% | −2.2% | 10.7% |
| Operating income growth (YoY) | – | 4.5% | −0.8% | −13.7% | 16.3% |
| EPS growth (YoY) | – | −5.0% | −2.9% | −13.4% | 4.7% |
| Gross margin | 16.2% | 16.3% | 16.6% | 17.3% | 17.7% |
| Operating margin | 10.1% | 9.4% | 9.9% | 8.8% | 9.2% |
| Net margin | 6.3% | 5.3% | 5.4% | 4.7% | 4.4% |
| Return on equityBlank when equity is negative | 23.0% | 19.8% | 17.3% | 13.9% | 12.7% |
| ROCEEBIT ÷ (assets − current liabilities) | 9.2% | 10.2% | 11.2% | 8.1% | 8.6% |
| Free cash flow margin | 5.7% | 8.3% | 4.3% | 7.8% | 6.5% |
| Cash conversion (CFO ÷ net income) | 1.55x | 2.20x | 1.48x | 2.61x | 2.53x |
| Receivable days | 46 | 37 | 37 | 37 | 33 |
| Inventory days | 61 | 52 | 69 | 70 | 74 |
| Payable days | 87 | 66 | 79 | 84 | 86 |
| Interest cover | 5.30x | 4.75x | 3.44x | 3.09x | 3.16x |
| Debt ÷ equity | 2.43x | 1.99x | 1.81x | 2.08x | 1.91x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 3,162 | 2,840 | 2,784 | 3,314 | 3,266 |
| Current ratio | 1.52x | 1.48x | 1.02x | 1.12x | 1.22x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.