While revenue growth accelerated to 12.9% in 2026Q1, gross margins contracted to 19.8%, suggesting that rising input costs continue to pressure bottom-line profitability.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Sales/Revenue | 12.74B | 12.37B | 11.8B | 12.01B | 12.94B | 11.39B | 9.39B | 9.56B | 11.15B | 8.7B | 8.28B | 8.76B | 9.1B | 8.66B | 8.47B | 8.64B | 7.94B | 7.94B | 8.3B | 7.73B | 6.98B | 6.91B | 7.2B | 6.63B | 6.79B | 7.19B | 7.29B | 7.73B | 8.3B | 8.49B | 8.33B |
| Revenue Growth % | 7% | 4.78% | -1.74% | -7.21% | 13.59% | 21.32% | -1.75% | -14.28% | 28.2% | 5% | -5.46% | -3.68% | 5.09% | 2.2% | -2.01% | 8.85% | 0.04% | -4.42% | 7.48% | 10.67% | 1.07% | -4.04% | 8.58% | -2.39% | -5.5% | -1.4% | -5.73% | -6.84% | -2.29% | 1.95% | 64.86% |
| Cost of Goods Sold | 10.45B | 10.1B | 9.26B | 9.55B | 10.64B | 9.03B | 7.36B | 7.58B | 9.03B | 7.01B | 6.62B | 7.12B | 7.53B | 7.18B | 7.01B | 7.3B | 6.69B | 6.55B | 6.87B | 6.7B | 6.09B | 5.76B | 5.98B | 5.54B | 5.62B | 6.06B | 5.98B | 6.06B | 6.53B | 6.71B | 6.73B |
| COGS % of Revenue | - | 81.66% | 78.48% | 79.48% | 82.23% | 79.24% | 78.35% | 79.24% | 80.96% | 80.55% | 79.95% | 81.21% | 82.72% | 82.95% | 82.8% | 84.41% | 84.26% | 82.53% | 82.69% | 86.71% | 87.22% | 83.37% | 83.12% | 83.54% | 82.73% | 84.36% | 82.07% | 78.38% | 78.64% | 78.96% | 80.8% |
| Gross Profit | 2.29B | 2.27B | 2.54B | 2.46B | 2.3B | 2.37B | 2.03B | 1.98B | 2.12B | 1.69B | 1.66B | 1.65B | 1.57B | 1.48B | 1.46B | 1.35B | 1.25B | 1.39B | 1.44B | 1.03B | 892M | 1.15B | 1.22B | 1.09B | 1.17B | 1.12B | 1.31B | 1.67B | 1.77B | 1.79B | 1.6B |
| Gross Margin % | 17.96% | 18.34% | 21.52% | 20.52% | 17.77% | 20.76% | 21.65% | 20.76% | 19.04% | 19.45% | 20.05% | 18.79% | 17.28% | 17.05% | 17.2% | 15.59% | 15.74% | 17.47% | 17.31% | 13.29% | 12.78% | 16.63% | 16.88% | 16.46% | 17.27% | 15.64% | 17.93% | 21.62% | 21.36% | 21.04% | 19.2% |
| Gross Profit Growth % | - | -10.67% | 3.04% | 7.13% | -2.75% | 16.33% | 2.47% | -6.55% | 25.47% | 1.87% | 0.91% | 4.71% | 6.5% | 1.3% | 8.09% | 7.84% | -9.88% | -3.55% | 40.02% | 15.13% | -22.37% | -5.43% | 11.37% | -6.99% | 4.36% | -14% | -21.83% | -5.7% | -0.78% | 11.72% | 115.32% |
| Operating Expenses | 651M | 632M | 1.12B | 1.2B | 964M | 1B | 985M | 957M | 1.03B | 668M | 664M | 719M | 757M | 625M | 591M | 423M | 372M | 630M | 468M | 414M | 326M | 598M | 671M | 663M | 692M | 809M | 809M | 870M | 1.23B | 1.02B | 922.9M |
| OpEx % of Revenue | - | 5.11% | 9.49% | 9.95% | 7.45% | 8.79% | 10.49% | 10.01% | 9.21% | 7.68% | 8.02% | 8.21% | 8.32% | 7.22% | 6.98% | 4.89% | 4.68% | 7.94% | 5.64% | 5.36% | 4.67% | 8.66% | 9.32% | 10% | 10.19% | 11.26% | 11.1% | 11.25% | 14.82% | 12.01% | 11.08% |
| Selling, General & Admin | 638M | 632M | 630M | 625M | 540M | 2.1B | 576M | 566M | 533M | 314M | 342M | 390M | 398M | 425M | 339M | 423M | 360M | 381M | 396M | 414M | 326M | 349M | 363M | 337M | 317M | 310M | 314M | 348M | 697M | 480.2M | 427M |
| SG&A % of Revenue | - | 5.11% | 5.34% | 5.2% | 4.17% | 18.41% | 6.13% | 5.92% | 4.78% | 3.61% | 4.13% | 4.45% | 4.38% | 4.91% | 4% | 4.89% | 4.53% | 4.8% | 4.77% | 5.36% | 4.67% | 5.05% | 5.04% | 5.08% | 4.67% | 4.31% | 4.31% | 4.5% | 8.4% | 5.65% | 5.12% |
| Research & Development | 0 | 0 | 32M | 33M | 34M | 47M | 48M | 50M | 51M | 39M | 41M | 39M | 39M | 36M | 43M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | 0.27% | 0.27% | 0.26% | 0.41% | 0.51% | 0.52% | 0.46% | 0.45% | 0.49% | 0.45% | 0.43% | 0.42% | 0.51% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1000K | 0 | 458M | 537M | 390M | -1.14B | 361M | 341M | 443M | 315M | 281M | 290M | 320M | 164M | 0 | 0 | 12M | 20M | 47M | 0 | 0 | 249M | 308M | 326M | 375M | 499M | 495M | 522M | 533M | 540M | 495.9M |
| Operating Income | 1.64B | 1.64B | 1.42B | 1.27B | 1.34B | 1.36B | 1.05B | 1.03B | 1.1B | 1.02B | 997M | 927M | 815M | 851M | 895M | 936M | 841M | 743M | 658M | 593M | 551M | 286M | 229M | 409M | 462M | 267M | 498M | 802M | 543M | 766.7M | 676.5M |
| Operating Margin % | 12.84% | 13.23% | 12.02% | 10.57% | 10.32% | 11.96% | 11.16% | 10.74% | 9.83% | 11.77% | 12.04% | 10.58% | 8.96% | 9.83% | 10.57% | 10.83% | 10.59% | 9.36% | 7.92% | 7.67% | 7.89% | 4.14% | 3.18% | 6.17% | 6.8% | 3.72% | 6.83% | 10.37% | 6.54% | 9.03% | 8.12% |
| Operating Income Growth % | - | 15.29% | 11.82% | -5.01% | -1.98% | 30.06% | 2.04% | -6.3% | 7.03% | 2.71% | 7.55% | 13.74% | -4.23% | -4.92% | -4.38% | 11.3% | 13.19% | 12.92% | 10.96% | 7.62% | 92.66% | 24.89% | -44.01% | -11.47% | 73.03% | -46.39% | -37.91% | 47.7% | -29.18% | 13.33% | 176.69% |
| EBITDA | 2.1B | 2.09B | 1.87B | 1.77B | 1.8B | 1.81B | 1.47B | 1.52B | 1.52B | 1.27B | 1.24B | 1.16B | 1B | 985M | 1.07B | 1.11B | 1.01B | 937M | 874M | 822M | 781M | 568M | 537M | 735M | 837M | 766M | 993M | 1.32B | 1.08B | 1.31B | 1.17B |
| EBITDA Margin % | 16.49% | 16.92% | 15.82% | 14.72% | 13.88% | 15.89% | 15.65% | 15.87% | 13.64% | 14.61% | 15.02% | 13.28% | 11.05% | 11.38% | 12.69% | 12.86% | 12.76% | 11.8% | 10.52% | 10.64% | 11.19% | 8.22% | 7.46% | 11.09% | 12.32% | 10.66% | 13.62% | 17.12% | 12.96% | 15.38% | 14.07% |
| EBITDA Growth % | 5.95% | 12.05% | 5.6% | -1.56% | -0.77% | 23.13% | -3.1% | -0.26% | 19.67% | 2.17% | 6.87% | 15.82% | 2.03% | -8.37% | -3.33% | 9.77% | 8.11% | 7.21% | 6.33% | 5.25% | 37.5% | 5.77% | -26.94% | -12.19% | 9.27% | -22.86% | -25% | 23.05% | -17.66% | 11.46% | 134.11% |
| D&A (Non-Cash Add-back) | 464M | 456M | 448M | 499M | 460M | 447M | 422M | 490M | 425M | 247M | 247M | 237M | 190M | 134M | 180M | 176M | 172M | 194M | 216M | 229M | 230M | 282M | 308M | 326M | 375M | 499M | 495M | 522M | 533M | 540M | 495.9M |
| EBIT | 1.61B | 1.56B | 1.45B | 1.32B | 1.29B | -168M | 1.03B | 985M | 1.16B | 1.13B | 1.07B | 1.01B | 984M | 917M | 895M | 819M | 817M | 706M | 744M | 613M | 566M | 554M | 452M | 361M | 481M | 315M | 498M | 802M | 861M | 833M | 676.6M |
| Net Interest Income | -342M | -343M | -370M | -383M | -269M | -244M | -282M | -352M | -363M | -237M | -231M | -259M | -246M | -231M | -219M | -221M | -194M | -241M | -291M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 54M | 55M | 82M | 53M | 15M | 9M | 8M | 15M | 21M | 15M | 12M | 11M | 7M | 5M | 7M | 11M | 9M | 6M | 11M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 396M | 398M | 452M | 436M | 284M | 253M | 290M | 367M | 384M | 252M | 243M | 270M | 253M | 236M | 226M | 232M | 203M | 247M | 302M | 593M | 276M | 1.43B | 441M | 306M | 1.95B | 1.08B | 1.07B | 667M | 319M | 294.8M | 197.8M |
| Other Income/Expense | -470M | -472M | -676M | -460M | -238M | -1.78B | -317M | -391M | -352M | -195M | -228M | -288M | -294M | -275M | -248M | -338M | -230M | -278M | -318M | -392M | -216M | -811M | -325M | -356M | -623M | -715M | -730M | -516M | -364M | -383M | -258.2M |
| Pretax Income | 1.17B | 1.16B | 743M | 809M | 1.1B | -416M | 731M | 636M | 744M | 829M | 769M | 639M | 521M | 576M | 647M | 587M | 614M | 459M | 442M | 201M | 335M | -314M | 133M | 63M | -161M | -448M | -232M | 286M | 179M | 449.3M | 418.4M |
| Pretax Margin % | 9.15% | 9.41% | 6.3% | 6.74% | 8.48% | -3.65% | 7.78% | 6.65% | 6.67% | 9.53% | 9.28% | 7.29% | 5.73% | 6.65% | 7.64% | 6.79% | 7.73% | 5.78% | 5.32% | 2.6% | 4.8% | -4.55% | 1.85% | 0.95% | -2.37% | -6.23% | -3.18% | 3.7% | 2.16% | 5.29% | 5.02% |
| Income Tax | 305M | 281M | 183M | 222M | 243M | -57M | 199M | 136M | 216M | 401M | 186M | 178M | 43M | 148M | 17M | 194M | 165M | 7M | 112M | -400M | -62M | -2M | 82M | 95M | 30M | 528M | -58M | 105M | 74M | 147.7M | 134.4M |
| Effective Tax Rate % | 26.16% | 24.14% | 24.63% | 27.44% | 22.13% | 13.7% | 27.22% | 21.38% | 29.03% | 48.37% | 24.19% | 27.86% | 8.25% | 25.69% | 2.63% | 33.05% | 26.87% | 1.53% | 25.34% | -199% | -18.51% | 0.64% | 61.65% | 150.79% | -18.63% | -117.86% | 25% | 36.71% | 41.34% | 32.87% | 32.12% |
| Net Income | 719M | 734M | 424M | 450M | 727M | -560M | 579M | 510M | 439M | 323M | 496M | 393M | 390M | 324M | 559M | 282M | 324M | 334M | 226M | 528M | 309M | -362M | 51M | -32M | -1.21B | -972M | -174M | 181M | 105M | 294M | 284M |
| Net Margin % | 5.64% | 5.94% | 3.59% | 3.75% | 5.62% | -4.91% | 6.16% | 5.34% | 3.94% | 3.71% | 5.99% | 4.49% | 4.29% | 3.74% | 6.6% | 3.26% | 4.08% | 4.21% | 2.72% | 6.83% | 4.43% | -5.24% | 0.71% | -0.48% | -17.74% | -13.52% | -2.39% | 2.34% | 1.27% | 3.46% | 3.41% |
| Net Income Growth % | 30.73% | 73.11% | -5.78% | -38.1% | 229.82% | -196.72% | 13.53% | 16.17% | 35.91% | -34.88% | 26.21% | 0.77% | 20.37% | -42.04% | 98.23% | -12.96% | -2.99% | 47.79% | -57.2% | 70.87% | 185.36% | -809.8% | 259.38% | 97.34% | -23.97% | -458.62% | -196.13% | 72.38% | -64.29% | 3.52% | 279.17% |
| Net Income (Continuing) | 861M | 883M | 560M | 587M | 855M | -359M | 532M | 500M | 528M | 428M | 583M | 461M | 478M | 428M | 0 | 393M | 449M | 452M | 330M | 601M | 397M | -320M | 79M | -74M | -191M | -976M | -174M | 181M | 105M | 302M | 284M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | -53M | 155M | 123M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -55M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 495M | 481M | 472M | 454M | 438M | 418M | 406M | 379M | 349M | 322M | 302M | 291M | 268M | 285M | 285M | 234M | 325M | 389M | 353M | 323M | 279M | 246M | 201M | 197M | 196M | 201M | 195M | 295M | 280M | 282.8M | 243.8M |
| EPS (Diluted) | 6.39 | 6.38 | 3.55 | 3.76 | 5.99 | -3.52 | 3.15 | 2.87 | 3.28 | 2.38 | 3.56 | 2.82 | 2.82 | 2.30 | 3.77 | 1.83 | 2.00 | 2.06 | 1.39 | 3.19 | 1.82 | -2.13 | 0.21 | -0.19 | -8.62 | -7.74 | -1.38 | 1.36 | 0.71 | 2.10 | 2.14 |
| EPS Growth % | 35.05% | 79.72% | -5.59% | -37.23% | 270.15% | -211.76% | 9.76% | -12.5% | 37.82% | -33.15% | 26.24% | 0% | 22.61% | -38.99% | 106.01% | -8.5% | -2.91% | 48.2% | -56.43% | 75.27% | 185.45% | -1114.29% | 210.53% | 97.8% | -11.37% | -460.87% | -201.47% | 91.55% | -66.19% | -1.87% | 157.83% |
| EPS (Basic) | - | 6.41 | 3.56 | 3.77 | 6.02 | -3.52 | 3.18 | 2.89 | 3.28 | 2.39 | 3.58 | 2.85 | 2.84 | 2.32 | 3.83 | 1.86 | 2.03 | 2.10 | 1.42 | 3.27 | 1.87 | -2.13 | 0.22 | -0.19 | -8.70 | -7.74 | -1.38 | 1.36 | 0.71 | 2.11 | 2.16 |
| Diluted Shares Outstanding | 112.53M | 115.74M | 119.43M | 119.67M | 121.38M | 130.38M | 134.56M | 134.88M | 133.88M | 135.61M | 139.31M | 139.14M | 138.54M | 140.65M | 148.4M | 154.3M | 162.39M | 161.95M | 162.93M | 165.52M | 169.78M | 169.95M | 167.51M | 165.62M | 139.74M | 125.6M | 125.7M | 122.06M | 123.94M | 129.05M | 123.46M |
| Basic Shares Outstanding | 111.98M | 115.22M | 119.44M | 119.68M | 121.37M | 143.96M | 133.53M | 133.89M | 133.84M | 135.71M | 139.33M | 139.36M | 138.3M | 140.87M | 148.28M | 151.7M | 159.4M | 159.14M | 159.59M | 161.47M | 165.24M | 169.95M | 165.18M | 164.57M | 138.56M | 125.6M | 125.7M | 122.06M | 123.94M | 128.44M | 122.31M |
| Dividend Payout Ratio | - | 16.35% | 28.07% | 25.56% | 14.58% | - | - | - | - | - | - | - | - | - | - | - | 34.57% | 26.05% | 28.76% | 7.2% | - | - | - | - | - | - | - | 76.24% | 136.19% | 51.63% | 51.2% |
Input cost volatility exposure
According to the most recent quarterly data, Crown Holdings achieved a 12.9% year-over-year revenue expansion in 2026Q1, marking a significant departure from the stagnant or negative growth trends observed throughout the 2024 fiscal year as the company navigates shifting demand in its core beverage packaging segments.
The recent acceleration suggests that the company may be successfully capturing volume gains from the secular shift toward aluminum packaging. Investors should monitor whether this growth is sustainable or merely a reflection of temporary pricing adjustments related to raw material pass-through mechanisms.
As reported in financial statements, Crown Holdings experienced a notable contraction in gross margins to 19.8% in 2026Q1, down from the 22.6% peak observed in 2025Q2, suggesting that the company faces ongoing challenges in maintaining pricing power against rising conversion and energy-related input costs.
The volatility in gross margins appears to indicate that while contractual pass-throughs mitigate commodity price risk, they may not fully insulate the firm from operational inefficiencies or energy inflation. This margin sensitivity implies that profitability remains highly dependent on maintaining high plant utilization rates across its global footprint.
Based on reported figures, the operating margin of 11.2% in 2026Q1 reflects a failure to scale operating income proportionally with the recent revenue surge, indicating that fixed costs and SG&A expenses continue to exert significant downward pressure on the company's overall bottom-line profitability and efficiency.
The inability to expand operating margins despite double-digit revenue growth suggests that the company's high-fixed-cost structure may be hindering its ability to translate top-line gains into meaningful earnings growth. Analysts should investigate whether this reflects structural overhead bloat or temporary investments in new capacity that have yet to reach optimal utilization.
As evidenced by the erratic EPS fluctuations, including a sharp 56.6% decline in 2025Q4 and a negative net income result in 2024Q3, the quality of reported earnings appears compromised by non-operating items and significant quarterly swings that complicate a clear assessment of the company's core operational health.
The inconsistency in net income suggests that investors should focus on operating cash flow rather than headline EPS, which appears susceptible to accounting noise and non-recurring charges. The presence of stock-based compensation, while relatively modest, further complicates the reconciliation of reported earnings with actual cash generation.
Quick answers to the most common questions about buying CCK stock.
For fiscal year 2025, Crown Holdings, Inc. (CCK) reported total revenue of $12.37B. This represents a 48.4% increase compared to $8.33B in 1996.
Crown Holdings, Inc. (CCK) is profitable, generating $734.0M in net income for the fiscal year ending 2025 with a net profit margin of 5.9%.
Crown Holdings, Inc. (CCK) reported an operating income of $1.64B, resulting in an operating profit margin of 13.2%. This margin reflects the operational efficiency of the business before interest and taxes.
Crown Holdings, Inc. (CCK) generated $2.27B in gross profit for the year, representing a gross profit margin of 18.3%. This demonstrates the company's core pricing power and production efficiency.