CROWN HOLDINGS, INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data CROWN HOLDINGS, INC. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	8,284	8,698	11,151	11,665	9,392	11,394	12,943	12,010	11,801	12,365
Cost of revenue		7,006	9,028	7,575	7,359	9,029	10,643	9,546	9,262	9,641
Gross profit		1,692	2,123	4,090	2,033	2,365	2,300	2,464	2,539	2,724
Research and development	41	39	51	50	48	47	34	33	32	33
Selling, general and administrative	366	367	558	556	533	583	556	582	597	632
Operating income	997	1,024	1,096	1,027	1,048	1,363	1,336	1,269	1,419	1,553
Interest expense	243	252	384	367	290	253	284	436	452	398
Interest income	12	15	21	15	8	9	15	53	82	55
Pre-tax income	769	829	740	631	725	-419	1,056	795	743	1,160
Income tax	186	401	216	136	199	-57	243	222	183	281
Income from continuing operations				387	424	-507	727	450
Net income to minority interests	87	105	89	115	109	149	128	137	136	145
Net income	496	323	439	510	579	-560	727	450	424	738
EBITDA							1,637	1,605	1,716	1,861
EPS, basic	3.58	2.39	3.28	3.81	4.34	-4.30	6.01	3.77	3.56	6.41
EPS, diluted	3.56	2.38	3.28	3.78	4.30	-4.30	5.99	3.76	3.55	6.38
Shares, basic (weighted)	139	135	134	134	134	130	121	119	119	115
Shares, diluted (weighted)	139	136	134	135	135	130	121	120	119	116
Dividend per share						0.80	0.88	0.96	1.00	1.04

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	559	424	607	607	1,173	531	550	1,310	918	764
Receivables	865	1,041	1,602	1,528	1,522	1,889	1,110	1,093	1,030	1,023
Inventory	1,245	1,385	1,690	1,626	1,263	1,735	2,014	1,613	1,440	1,577
Other current assets	172	224	180	241	202	243	252	191	197	279
Total current assets	2,841	3,074	4,079	4,002	4,903	4,495	4,659	4,833	4,211	4,388
Property, plant and equipment	2,820	3,239	3,745	3,887	3,652	4,036	4,540	5,062	4,927	5,187
Lease right-of-use assets			0	204	171	191	221	211	201	193
Goodwill	2,791	3,046	4,442	3,092	3,146	3,007	2,951	3,117	2,954	3,155
Intangible assets	470	472	2,193	2,015	1,755	1,525	1,358	1,258	1,044	959
Other non-current assets	675	832	803	967	885	604	572	553	511	390
Total assets	9,599	10,663	15,262	12,718	16,691	13,858	14,301	15,034	13,848	14,272
Accounts payable	1,951	2,367	2,732	2,646	2,141	2,901	2,773	2,459	2,425	2,643
Accrued liabilities	162	757	1,011	1,065	946	966	930	922	847	1,012
Deferred revenue	1	3	5	5	0
Short-term debt	161	64	81	62	67	135	109	759	80	480
Total current liabilities	2,896	3,250	3,913	3,899	4,282	4,133	3,932	4,201	3,465	4,266
Long-term debt	4,717	5,217	8,493	7,818	8,023	6,052	6,792	6,699	6,058	5,401
Lease liabilities			0	156	132	150	184	175	167	158
Other non-current liabilities	698	685	887	857	766	696	712	681	670	676
Total liabilities	8,931	9,740	13,976	13,413	14,087	11,528	12,014	12,170	10,620	10,792
Total debt	4,878	5,281	8,574	7,880	8,090	6,187	6,901	7,458	6,138	5,881
Paid-in capital	446	167	186	207	179	0	0	17	0	0
Retained earnings	2,621	3,004	3,449	3,959	4,538	3,180	3,141	3,476	3,624	3,812
Treasury stock	-230	-258	-253	-251	-255	-299
Other comprehensive income	-3,400	-3,241	-3,374	-3,131	-3,193	-1,898	-1,892	-1,687	-1,462	-1,382
Shareholders' equity	366	601	937	1,713	2,198	1,912	1,849	2,410	2,756	2,999
Minority interests	302	322	349	379	406	418	438	454	472	481
Total equity	668	923	1,286	2,092	2,604	2,330	2,287	2,864	3,228	3,480
Total liabilities and equity	9,599	10,663	15,262	15,505	16,691	13,858	14,301	15,034	13,848	14,272
Shares outstanding	140	134	135	136	135	126	120	121	119	113

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	583	428	528	625	688	-411	855	587	560	883
Depreciation and amortization							301	336	297	308
Stock-based compensation	20	23	27	29	32	33	29	31	42	48
Deferred income tax	16	247	35	-28	38	-298	35	-53	-168	40
Change in receivables	-1,057	-1,143	-493	60	-186	-590	29	98	65	-42
Change in inventory	-85	-65	-201	61	-2	-609	-299	463	102	-72
Change in payables	163	253	209	-87	121	873	-149	-413	-90	140
Cash from operations	-134	-251	571	1,163	1,315	905	803	1,453	1,192	1,530
Capital expenditures	-473	-498	-462	-391	-554	-816	-839	-793	-403	-413
Acquisitions	0	0	-3,912	-11	0	0	-31	-126	0	0
Cash from investing	633	496	-3,843	-374	-535	1,507	-642	-804	-12	-320
Debt issued	1,380	1,054	4,082	2,216	110	144	2,953	1,096	675	1,286
Debt repaid	-1,914	-1,137	-333	-2,845	-269	-1,834	-2,278	-312	-1,788	-1,891
Stock issued	10	9	1	4	2	2
Share buybacks	-8	-339	-4	-7	-66	-950	-722	-12	-217	-505
Dividends paid				0	0	-105	-106	-115	-119	-120
Cash from financing	-638	-400	3,533	-786	-239	-2,944	-25	116	-1,526	-1,361
Exchange rate effect	-30	14	-37	1	34	-113	-90	-4	-38	14
Net change in cash	-169	-141	224	4	575	-645	46	761	-384	-137
Free cash flow	-607	-749	109	772	761	89	-36	660	789	1,117
Interest paid	217	225	334	362	302	294	270	390	367	372
Income taxes paid	158	154	177	173	189	253	223	262	398	286

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $108.06 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	21.0%	Gross profit / revenue.
Operating margin	12.3%	Operating income / revenue.
EBITDA margin	14.7%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	9.3%	Pre-tax income / revenue.
Net margin	5.9%	Net income / revenue.
FCF margin	9.0%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	13.0%	Cash from operations / revenue.
Effective tax rate	25.6%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	27.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	5.4%	Net income / average total assets.
Return on invested capital (ROIC)	14.7%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	4.9%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.3%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	4.0%	Capital expenditures / revenue.
D&A / revenue	2.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	4.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-1.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	5.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	7.3%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	5.8%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	6.0%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	9.4%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	5.1%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	8.2%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	8.4%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	4.4%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y	74.1%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	0.5%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	5.0%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	79.7%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	2.1%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	8.2%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	28.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	24.0%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	3.1%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	41.6%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 5y	8.0%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	4.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	5.7%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	8.8%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	17.5%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	6.4%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	3.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-0.1%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-3.1%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-3.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-1.6%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-3.0%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.05x	Current assets / current liabilities.
Quick ratio	0.58x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.14x	(Cash + short-term investments) / current liabilities.
Debt / equity	2.10x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	41.3%	Total debt / total assets.
Liabilities / assets	76.9%	Total liabilities / total assets.
Net debt	$5.36B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	2.76x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	4.09x	Operating income / interest expense.
Working capital	$221.0M	Current assets - current liabilities.
Goodwill and intangibles / assets	27.6%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$1.15B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.91x	Revenue / average total assets.
Fixed asset turnover	2.55x	Revenue / average property, plant and equipment.
Inventory turnover	5.84x	Cost of revenue / average inventory.
Days inventory	63 days	365 x average inventory / cost of revenue.
Receivables turnover	6.63x	Revenue / average receivables.
Days sales outstanding	55 days	365 x average receivables / revenue.
Days payables	107 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	11 days	Days inventory + days sales outstanding - days payables.
FCF conversion	152.9%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	30.5%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$7.14	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$120.73	Revenue / diluted weighted shares.
FCF per share	$10.92	Free cash flow / diluted weighted shares.
Operating cash flow per share	$15.72	Cash from operations / diluted weighted shares.
Book value per share	$26.11	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$10.45	Tangible book value / shares outstanding.
Cash per share	$5.97	(Cash + short-term investments) / shares outstanding.
Payout ratio	17.5%	Dividends paid / net income, when net income is positive.
Dividends / FCF	11.4%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	67.8%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$11.75B	Share price x shares outstanding.
Enterprise value	$17.11B	Market cap + total debt - cash - short-term investments.
P/E	15.0x	Market cap / net income. Only when net income is positive.
P/S	0.89x	Market cap / revenue.
P/B	4.10x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	9.80x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	6.81x	Market cap / cash from operations, when positive.
EV/Sales	1.29x	Enterprise value / revenue.
EV/EBIT	10.5x	Enterprise value / operating income, when both are positive.
EV/EBITDA	8.80x	Enterprise value / EBITDA, when both are positive.
EV/FCF	14.3x	Enterprise value / free cash flow, when both are positive.
FCF yield	10.2%	Free cash flow / market cap.
Earnings yield	6.7%	Net income / market cap (the inverse of P/E).
Dividend yield	1.2%	Dividends paid over the period / market cap.
Shareholder yield	8.1%	(Dividends paid + share buybacks) / market cap.
PEG	7.06x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was CROWN HOLDINGS, INC.'s revenue in fiscal 2025?

CROWN HOLDINGS, INC. reported revenue of $12.37B for fiscal 2025, 4.8% higher than the year before.

Was CROWN HOLDINGS, INC. profitable in fiscal 2025?

Yes. Net income was $738.0M, a net margin of 6%.

How much free cash flow did CROWN HOLDINGS, INC. generate in fiscal 2025?

Cash from operations of $1.53B minus capital expenditures of $413.0M left free cash flow of $1.12B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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