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Packaging & containers · Consumer Cyclical · Fiscal year ends Dec 31
Sonoco Products reported revenue of $7.5B in the fiscal year ended Dec 2025, up 41.7% from the year before. Operating income was $1B, an operating margin of 13.5%, and net income was $1B. Operating cash flow of $690M less capital expenditure of $344M left free cash flow of $346M. Net debt was $3.9B.
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 | 5,590 | 5,385 | 5,441 | 5,305 | 7,519 |
| Cost of revenue | 4,529 | 4,634 | 4,239 | 4,166 | 5,944 |
| Gross profit | 1,062 | 1,225 | 1,203 | 1,139 | 1,574 |
| Research & development | 24.1 | 23.1 | 23.9 | 23.0 | 21.5 |
| Selling, general & admin | 558 | 610 | 645 | 724 | 862 |
| Operating income | 487 | 563 | 589 | 327 | 1,018 |
| Interest expense | 64.0 | 102 | 137 | 173 | 233 |
| Pre-tax income | −161 | 460 | 489 | 63.5 | 765 |
| Income tax | −67.4 | 95.7 | 120 | 5.5 | 184 |
| Net income | −85.5 | 466 | 475 | 164 | 1,003 |
| Diluted EPS | −0.86 | 4.72 | 4.80 | 1.65 | 10.07 |
| Diluted shares | 99.6 | 98.7 | 98.9 | 99.3 | 99.6 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 171 | 227 | 139 | 431 | 378 |
| Receivables | 756 | 863 | 686 | 908 | 843 |
| Inventory | – | – | – | 1,016 | 1,121 |
| Current assets | 1,659 | 2,361 | 2,050 | 3,179 | 2,646 |
| Net PP&E | 1,298 | 1,710 | 1,663 | 2,719 | 2,798 |
| Goodwill | 1,325 | 1,675 | 1,298 | 2,526 | 2,512 |
| Total assets | 5,073 | 7,053 | 7,192 | 12,508 | 11,162 |
| Payables | 721 | 819 | 538 | 1,131 | 1,084 |
| Deferred revenue | 19.0 | 22.4 | 15.3 | 60.0 | 58.8 |
| Current liabilities | 1,526 | 1,744 | 1,165 | 4,038 | 2,529 |
| Short-term debt | 412 | 502 | 38.9 | 2,055 | 538 |
| Long-term debt | 1,199 | 2,720 | 2,998 | 4,985 | 3,789 |
| Total liabilities | 3,224 | 4,980 | 4,760 | 10,222 | 7,531 |
| Shareholders' equity | 1,837 | 2,066 | 2,424 | 2,272 | 3,614 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 299 | 509 | 883 | 834 | 690 |
| Capital expenditure | 256 | 329 | 363 | 393 | 344 |
| Free cash flow | 42.7 | 180 | 520 | 441 | 346 |
| Depreciation & amortisation | 245 | 309 | 341 | 375 | 519 |
| Stock-based compensation | 22.6 | 31.3 | 27.8 | 29.7 | 18.0 |
| Acquisitions | 22.2 | 1,427 | 373 | 3,794 | – |
| Share buybacks | 218 | 4.5 | 10.6 | 9.2 | 10.9 |
| Dividends paid | 179 | 187 | 197 | 203 | 208 |
| Dividend per share | 1.80 | 1.92 | 2.02 | 2.07 | 2.11 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −3.7% | 1.1% | −2.5% | 41.7% |
| Operating income growth (YoY) | – | 15.7% | 4.6% | −44.6% | 211.6% |
| EPS growth (YoY) | – | – | 1.7% | −65.6% | 510.3% |
| Gross margin | 19.0% | 22.8% | 22.1% | 21.5% | 20.9% |
| Operating margin | 8.7% | 10.5% | 10.8% | 6.2% | 13.5% |
| Net margin | −1.5% | 8.7% | 8.7% | 3.1% | 13.3% |
| Return on equityBlank when equity is negative | −4.7% | 22.6% | 19.6% | 7.2% | 27.8% |
| ROCEEBIT ÷ (assets − current liabilities) | 13.7% | 10.6% | 9.8% | 3.9% | 11.8% |
| Free cash flow margin | 0.8% | 3.3% | 9.6% | 8.3% | 4.6% |
| Cash conversion (CFO ÷ net income) | −3.49x | 1.09x | 1.86x | 5.09x | 0.69x |
| Receivable days | 49 | 58 | 46 | 62 | 41 |
| Inventory days | – | – | – | 89 | 69 |
| Payable days | 58 | 64 | 46 | 99 | 67 |
| Interest cover | 7.61x | 5.54x | 4.31x | 1.89x | 4.36x |
| Debt ÷ equity | 0.88x | 1.56x | 1.25x | 3.10x | 1.20x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 1,440 | 2,995 | 2,898 | 6,609 | 3,949 |
| Current ratio | 1.09x | 1.35x | 1.76x | 0.79x | 1.05x |
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.