Graphic Packaging Holding Company (GPK) quarterly cash flow statement — complete operating, investing & financing history
Graphic Packaging Holding Company (GPK) cash flow statement — 30-year operating, investing & financing cash flows
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | 158M | -113M | 521M | 227M | 267M | -174M | 489M | 187M | 161M | 3M | 442M | 411M | 231M | 60M | 470M | 332M | 270M | 18M | 150M | 154M |
| Operating CF Margin % | 7.22% | -5.24% | 24.77% | 10.37% | 12.11% | -8.21% | 23.34% | 8.44% | 7.2% | 0.13% | 19.65% | 17.5% | 9.66% | 2.46% | 19.7% | 13.55% | 11.45% | 0.8% | 7.55% | 8.64% |
| Operating CF Growth % | -40.82% | 35.06% | 6.54% | 21.39% | 65.84% | -5900% | 10.63% | -54.5% | -30.3% | -95% | -5.96% | 23.8% | -14.44% | 233.33% | 213.33% | 115.58% | 7.14% | -66.04% | -65.56% | -37.25% |
| Net Income | 24M | -43M | 71M | 142M | 104M | 127M | 138M | 165M | 190M | 165M | 196M | 170M | 150M | 207M | 156M | 193M | 66M | 107M | 39M | 73M |
| Depreciation & Amortization | 145M | 139M | 149M | 126M | 130M | 131M | 138M | 139M | 133M | 148M | 155M | 161M | 165M | 139M | 138M | 137M | 139M | 139M | 139M | 122M |
| Stock-Based Compensation | 6M | 12M | 2M | 1M | 3M | -4M | 0 | 0 | 15M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6M | 0 |
| Deferred Taxes | 5M | -12M | 16M | 75M | 7M | 9M | -11M | -38M | -54M | -16M | 4M | -20M | 8M | 30M | 64M | 27M | 23M | 17M | 0 | 14M |
| Other Non-Cash Items | 4M | 49M | -24M | -1M | -17M | 7M | 49M | 8M | -75M | 15M | 9M | 36M | 21M | 21M | -17M | 13M | 111M | -5M | 91M | 17M |
| Working Capital Changes | -26M | -258M | 307M | -116M | 40M | -444M | 175M | -87M | -48M | -309M | 78M | 64M | -113M | -337M | 129M | -38M | -69M | -240M | -125M | -72M |
| Change in Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -106M | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -80M | 0 |
| Change in Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | -36M | -97M | 4M | -231M | -207M | -298M | -240M | -277M | 486M | -311M | -150M | -438M | -164M | -273M | -68M | -56M | -116M | -195M | -1.6B | -503M |
| Capital Expenditures | -83M | -140M | -114M | -267M | -228M | -313M | -310M | -8M | -9M | -331M | -212M | -207M | -189M | -196M | -11M | -6M | -8M | -2M | -214M | -242M |
| CapEx % of Revenue | 3.79% | 6.49% | 5.42% | 12.19% | 10.34% | 14.76% | 14.8% | 0.36% | 0.4% | 14.65% | 9.43% | 8.81% | 7.9% | 8.04% | 0.46% | 0.24% | 0.34% | 0.09% | 10.76% | 13.58% |
| Acquisitions | 0 | 0 | 30M | 3M | -5M | -12M | 0 | 0 | 711M | 0 | 0 | -261M | 0 | -100M | 0 | 0 | 0 | 0 | -1.41B | -292M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 47M | 43M | 88M | 33M | 26M | 27M | 70M | -269M | -216M | 20M | 62M | 30M | 25M | 23M | -57M | -50M | -108M | -193M | 26M | 31M |
| Cash from Financing | -106M | 138M | -384M | 4M | -77M | 439M | -209M | 88M | -655M | 287M | -294M | 57M | -46M | 177M | -335M | -301M | -149M | 119M | 1.55B | 328M |
| Debt Issued (Net) | -77M | 194M | -342M | 82M | 70M | 500M | -174M | 120M | -416M | 340M | -238M | 100M | -11M | 258M | -299M | -261M | -127M | 157M | 1.64B | 395M |
| Equity Issued (Net) | 4M | -4M | -34M | -42M | -115M | -27M | -1M | -1M | -200M | -22M | -17M | -10M | -1M | -48M | -6M | -15M | -7M | -17M | 0 | -1M |
| Dividends Paid | -33M | -32M | -32M | -33M | -33M | -30M | -31M | -30M | -30M | -31M | -31M | -31M | -30M | -31M | -23M | -23M | -23M | -23M | -27M | -23M |
| Share Repurchases | 4M | -4M | -34M | -42M | -115M | -27M | -1M | -1M | -200M | -22M | -17M | -10M | -1M | -48M | -6M | -15M | -7M | -17M | 0 | -1M |
| Other Financing | 0 | -20M | 24M | -3M | 1M | -4M | -3M | -1M | -9M | 0 | -8M | -2M | -4M | -2M | -7M | -2M | 8M | 2M | -54M | -43M |
| Net Change in Cash | 16M | -72M | 141M | 0 | -9M | -28M | 31M | 1M | -11M | -26M | 16M | 21M | 12M | -37M | 72M | -29M | 1M | -61M | 105M | -22M |
| Free Cash Flow | 75M | -253M | 407M | -40M | 39M | -487M | 179M | -126M | -88M | -328M | 230M | 204M | 42M | -136M | 366M | 248M | 132M | -205M | -64M | -88M |
| FCF Margin % | 3.43% | -11.73% | 19.35% | -1.83% | 1.77% | -22.97% | 8.54% | -5.69% | -3.93% | -14.52% | 10.23% | 8.68% | 1.76% | -5.58% | 15.34% | 10.12% | 5.6% | -9.13% | -3.22% | -4.94% |
| FCF Growth % | 92.31% | 48.05% | 127.37% | 68.25% | 144.32% | -48.48% | -22.17% | -161.76% | -309.52% | -141.18% | -37.16% | -17.74% | -68.18% | 33.66% | 671.88% | 381.82% | 153.85% | -120.43% | -129.78% | -169.68% |
| FCF per Share | 0.25 | -0.85 | 1.37 | -0.13 | 0.13 | -1.61 | 0.59 | -0.42 | -0.29 | -1.06 | 0.75 | 0.66 | 0.14 | -0.44 | 1.18 | 0.80 | 0.43 | -0.66 | -0.21 | -0.28 |
| FCF Conversion (FCF/Net Income) | 6.58x | 2.63x | 7.34x | 1.60x | 2.57x | -1.37x | 3.54x | 1.13x | 0.85x | 0.02x | 2.26x | 2.42x | 1.54x | 0.29x | 3.01x | 1.72x | 4.09x | 0.17x | 3.85x | 2.11x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - | - | - | - | 116M | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - | - | - | - | 0 | 0 |