Reynolds Consumer Products Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 8 fiscal years, taken from the XBRL data Reynolds Consumer Products 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

	FY2018	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	3,142	3,032	3,263	3,556	3,817	3,756	3,695	3,721
Cost of revenue	2,310	2,152	2,290	2,745	3,041	2,814	2,717	2,807
Gross profit	832	880	973	811	776	942	978	914
Research and development	29	33	41	36	38	44	45	48
Selling, general and administrative	288	305	358	320	340	430	429	382
Interest expense	280	209	70	48	76	119	98	86
Other non-operating income	3	3	-1	0	-3	0	0
Pre-tax income	233	301	516	430	338	393	451	393
Income tax	57	76	153	106	80	95	99	92
Income from continuing operations	513	510	586	478	414	512	549	492
Net income	176	225	363	324	258	298	352	301
EPS, basic	1.13	1.45	1.78	1.54	1.23	1.42	1.68	1.43
EPS, diluted	1.13	1.45	1.77	1.54	1.23	1.42	1.67	1.43
Shares, basic (weighted)	156	156	205	210	210	210	210	210
Shares, diluted (weighted)	156	156	205	210	210	210	210	210
Dividend per share			0.59	0.92	0.92	0.92	0.92	0.92

Balance sheet

	FY2018	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents		102	312	164	38	115	137	147
Receivables		13	292	316	348	347	337	355
Inventory		418	419	583	722	524	567	584
Other current assets		16	13	19	41	41	47	20
Total current assets		570	1,053	1,104	1,171	1,041	1,101	1,116
Property, plant and equipment		537	612	677	722	732	758	823
Lease right-of-use assets		42	61	55	65	56	90	98
Goodwill	1,879	1,879	1,879	1,879	1,879	1,895	1,895	1,895
Intangible assets		1,123	1,092	1,061	1,031	1,001	972	943
Other non-current assets		9	25	36	61	55	57	61
Total assets	6,421	4,160	4,722	4,812	4,929	4,780	4,873	4,936
Accounts payable		135	185	261	252			387
Accrued liabilities		47	63	34	35	76	66	59
Short-term debt		21	25	25	25	0	0	0
Total current liabilities		378	432	484	496	478	539	577
Long-term debt		1,990	2,208	2,087	2,066	1,832	1,686	1,580
Lease liabilities		35	51	46	53	42	73	81
Other non-current liabilities		19	37	38	47	72	77	82
Total liabilities		4,978	3,107	3,056	3,061	2,797	2,731	2,683
Total debt		2,011	2,233	2,112	2,091	1,832	1,686	1,580
Paid-in capital			1,381	1,381	1,385	1,396	1,413	1,431
Retained earnings			233	365	431	537	694	802
Other comprehensive income		5	1	10	52	50	35	20
Shareholders' equity	-1,027	-818	1,615	1,756	1,868	1,983	2,142	2,253
Total equity	-1,027	-818	1,615	1,756	1,868	1,983	2,142	2,253
Total liabilities and equity		4,160	4,722	4,812	4,929	4,780	4,873	4,936
Shares outstanding		210	210	210	210	210	210	211

Cash flow statement

	FY2018	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	176	225	363	324	258	298	352	301
Depreciation and amortization	87	91	99	109	117	124	129	135
Stock-based compensation			5	4	5	14	19	21
Deferred income tax	-22		68	22	1	-7	-11	13
Change in receivables	-7	2	-279	-24	-31	0	11	-11
Change in inventory	-65	2	0	-165	-139	198	-42	-18
Cash from operations	530	403	319	310	219	644	489	477
Capital expenditures	-82	-109	-143	-141	-128	-104	-120	-161
Acquisitions				0	0	-6	0	0
Cash from investing	-554	-128	-143	-141	-128	-110	-120	-161
Debt issued			2,472	0	0	0	0	743
Debt repaid	-21	-21	-218	-125	-25	-262	-150	-108
Stock issued			1,410	0	0
Dividends paid			-124	-192	-192	-192	-192	-192
Cash from financing	24	-196	34	-317	-217	-457	-346	-306
Exchange rate effect					0	0	-1	0
Net change in cash		79	210	-148	-126	77	22	10
Free cash flow	448	294	176	169	91	540	369	316
Interest paid				41	68	114	98	82
Income taxes paid	8	4	76	91	64	90	125	67

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to March 31, 2026; growth uses fiscal years. Valuation uses the share price of $21.67 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	24.7%	Gross profit / revenue.
Pre-tax margin	11.3%	Pre-tax income / revenue.
Net margin	8.7%	Net income / revenue.
FCF margin	8.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	13.0%	Cash from operations / revenue.
Effective tax rate	23.4%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	14.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	6.7%	Net income / average total assets.
SG&A / revenue	10.2%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.5%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	4.4%	Capital expenditures / revenue.
D&A / revenue	3.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	0.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-0.8%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	2.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-6.5%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	5.6%	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	-1.2%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-14.5%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	5.3%	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	-3.7%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-14.4%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	5.2%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	-4.2%	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	-2.5%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	29.6%	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	8.4%	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	-14.4%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	51.4%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	12.4%	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	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	0.0%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	9.3%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	5.2%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	6.4%	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	6.9%	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	1.3%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	0.0%	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	0.9%	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	0.0%	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	0.1%	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	0.6%	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	1.79x	Current assets / current liabilities.
Quick ratio	0.71x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.12x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.68x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	31.0%	Total debt / total assets.
Liabilities / assets	54.1%	Total liabilities / total assets.
Net debt	$1.46B	Total debt - cash - short-term investments. Negative means more cash than debt.
Working capital	$489.0M	Current assets - current liabilities.
Goodwill and intangibles / assets	57.4%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$567.0M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.77x	Revenue / average total assets.
Fixed asset turnover	4.51x	Revenue / average property, plant and equipment.
Inventory turnover	4.47x	Cost of revenue / average inventory.
Days inventory	82 days	365 x average inventory / cost of revenue.
Receivables turnover	10.3x	Revenue / average receivables.
Days sales outstanding	36 days	365 x average receivables / revenue.
Days payables	54 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	64 days	Days inventory + days sales outstanding - days payables.
FCF conversion	99.1%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	33.7%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.55	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	$17.85	Revenue / diluted weighted shares.
FCF per share	$1.54	Free cash flow / diluted weighted shares.
Operating cash flow per share	$2.32	Cash from operations / diluted weighted shares.
Book value per share	$10.75	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$2.69	Tangible book value / shares outstanding.
Cash per share	$0.34	(Cash + short-term investments) / shares outstanding.
Payout ratio	58.4%	Dividends paid / net income, when net income is positive.
Dividends / FCF	58.9%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$4.57B	Share price x shares outstanding.
Enterprise value	$6.03B	Market cap + total debt - cash - short-term investments.
P/E	13.9x	Market cap / net income. Only when net income is positive.
P/S	1.21x	Market cap / revenue.
P/B	2.02x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	14.0x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	9.28x	Market cap / cash from operations, when positive.
EV/Sales	1.59x	Enterprise value / revenue.
EV/FCF	18.5x	Enterprise value / free cash flow, when both are positive.
FCF yield	7.1%	Free cash flow / market cap.
Earnings yield	7.2%	Net income / market cap (the inverse of P/E).
Dividend yield	4.2%	Dividends paid over the period / market cap.
Shareholder yield	4.2%	(Dividends paid + share buybacks) / market cap.
PEG	2.70x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was Reynolds Consumer Products Inc.'s revenue in fiscal 2025?

Reynolds Consumer Products Inc. reported revenue of $3.72B for fiscal 2025, 0.7% higher than the year before.

Was Reynolds Consumer Products Inc. profitable in fiscal 2025?

Yes. Net income was $301.0M, a net margin of 8.1%.

How much free cash flow did Reynolds Consumer Products Inc. generate in fiscal 2025?

Cash from operations of $477.0M minus capital expenditures of $161.0M left free cash flow of $316.0M.

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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