Latest Ratios: P/E Ratio 13.8x · EV/EBITDA 7.6x · ROE 13.5%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3.9B | $4.3B | $5.6B | $4.9B | $5.8B | $4.8B | $4.1B | $3.5B | $2.6B | $3.3B | $3.1B |
| Enterprise Value | $7.5B | $7.8B | $9.1B | $8.0B | $8.8B | $8.2B | $7.2B | $5.7B | $4.9B | $5.8B | $4.6B |
| P/E Ratio → | 13.76 | 14.95 | 20.17 | 15.18 | 16.89 | 13.26 | 13.39 | 17.86 | 11.75 | 12.14 | 20.15 |
| P/S Ratio | 0.61 | 0.66 | 0.95 | 0.83 | 0.90 | 0.84 | 0.84 | 0.77 | 0.59 | 0.80 | 0.85 |
| P/B Ratio | 1.74 | 1.90 | 2.80 | 2.62 | 3.35 | 3.05 | 3.30 | 3.39 | 2.99 | 4.27 | 6.57 |
| P/FCF | 9.29 | 10.20 | 12.14 | 19.32 | 10.81 | 14.68 | 10.92 | 12.54 | 8.36 | 15.21 | 15.22 |
| P/OCF | 5.38 | 5.91 | 7.72 | 10.24 | 7.69 | 8.55 | 6.86 | 6.83 | 5.21 | 8.40 | 7.82 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.21 | 1.56 | 1.33 | 1.37 | 1.44 | 1.46 | 1.27 | 1.09 | 1.41 | 1.28 |
| EV / EBITDA | 7.63 | 8.03 | 10.71 | 9.18 | 10.19 | 9.88 | 9.85 | 10.07 | 8.06 | 10.86 | 10.43 |
| EV / EBIT | 11.33 | 13.13 | 17.72 | 13.37 | 14.67 | 14.21 | 14.07 | 15.93 | 11.89 | 16.48 | 15.42 |
| EV / FCF | — | 18.56 | 19.84 | 31.12 | 16.54 | 25.16 | 19.00 | 20.63 | 15.43 | 26.80 | 22.80 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 17.7% | 17.7% | 17.3% | 16.6% | 16.3% | 16.2% | 17.6% | 15.9% | 15.5% | 15.5% | 14.2% |
| Operating Margin | 10.2% | 10.2% | 9.8% | 10.1% | 9.4% | 10.1% | — | 8.0% | 9.3% | 8.7% | 8.3% |
| Net Profit Margin | 4.4% | 4.4% | 4.7% | 5.4% | 5.3% | 6.3% | 6.3% | 4.3% | 5.0% | 6.6% | 4.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 13.5% | 13.5% | 14.3% | 18.1% | 20.8% | 25.5% | 27.1% | 20.4% | 27.2% | 43.7% | 27.7% |
| ROA | 3.2% | 3.2% | 3.4% | 4.4% | 4.5% | 5.0% | 5.4% | 4.1% | 4.9% | 6.9% | 4.8% |
| ROIC | 8.7% | 8.7% | 8.3% | 9.4% | 9.3% | 9.3% | — | 8.5% | 9.7% | 10.2% | 11.1% |
| ROCE | 9.9% | 9.9% | 9.9% | 10.8% | 9.9% | 9.9% | — | 9.5% | 11.0% | 11.7% | 12.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.03 | 2.03 | 2.19 | 1.94 | 2.12 | 2.58 | 2.77 | 2.38 | 2.62 | 3.33 | 3.33 |
| Debt / EBITDA | 4.72 | 4.72 | 5.12 | 4.22 | 4.21 | 4.88 | 4.75 | 4.31 | 3.82 | 4.80 | 3.53 |
| Net Debt / Equity | — | 1.55 | 1.78 | 1.60 | 1.78 | 2.18 | 2.44 | 2.18 | 2.53 | 3.26 | 3.27 |
| Net Debt / EBITDA | 3.62 | 3.62 | 4.16 | 3.48 | 3.53 | 4.12 | 4.19 | 3.95 | 3.70 | 4.70 | 3.47 |
| Debt / FCF | — | 8.37 | 7.70 | 11.80 | 5.73 | 10.49 | 8.08 | 8.09 | 7.07 | 11.59 | 7.58 |
| Interest Coverage | 3.16 | 3.16 | 3.09 | 3.44 | 4.75 | 5.30 | 4.92 | 3.39 | 3.52 | 3.17 | 4.47 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.22 | 1.22 | 1.12 | 1.02 | 1.48 | 1.52 | 1.51 | 1.38 | 1.42 | 1.52 | 1.12 |
| Quick Ratio | 0.78 | 0.78 | 0.71 | 0.61 | 0.95 | 0.99 | 0.94 | 0.76 | 0.72 | 0.67 | 0.42 |
| Cash Ratio | 0.44 | 0.44 | 0.37 | 0.28 | 0.41 | 0.42 | 0.34 | 0.20 | 0.08 | 0.06 | 0.03 |
| Asset Turnover | — | 0.69 | 0.68 | 0.79 | 0.87 | 0.73 | 0.76 | 0.91 | 0.97 | 0.88 | 1.15 |
| Inventory Turnover | 4.94 | 4.94 | 5.22 | 5.31 | 6.97 | 5.96 | 5.98 | 5.97 | 5.92 | 4.79 | 5.14 |
| Days Sales Outstanding | — | 33.18 | 37.05 | 36.54 | 37.46 | 45.73 | 45.94 | 41.05 | 41.95 | 40.57 | 29.12 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.2% | 2.0% | 1.5% | 1.6% | 1.3% | 1.3% | 1.3% | 1.5% | 1.7% | 1.2% | 1.3% |
| Payout Ratio | 29.8% | 29.8% | 29.7% | 24.2% | 21.1% | 17.4% | 17.4% | 26.2% | 19.9% | 15.0% | 26.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.3% | 6.7% | 5.0% | 6.6% | 5.9% | 7.5% | 7.5% | 5.6% | 8.5% | 8.2% | 5.0% |
| FCF Yield | 10.8% | 9.8% | 8.2% | 5.2% | 9.3% | 6.8% | 9.2% | 8.0% | 12.0% | 6.6% | 6.6% |
| Buyback Yield | 1.7% | 1.6% | 0.2% | 3.7% | 0.8% | 0.2% | 0.0% | 0.0% | 0.3% | 0.1% | 9.1% |
| Total Shareholder Yield | 3.9% | 3.6% | 1.6% | 5.3% | 2.0% | 1.5% | 1.3% | 1.5% | 2.0% | 1.4% | 10.4% |
| Shares Outstanding | — | $107M | $107M | $109M | $111M | $111M | $111M | $112M | $112M | $111M | $120M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying SLGN stock.
Silgan Holdings Inc.'s current P/E ratio is 13.8x. The historical average is 16.4x. This places it at the 28th percentile of its historical range.
Silgan Holdings Inc.'s current EV/EBITDA is 7.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.9x.
Silgan Holdings Inc.'s return on equity (ROE) is 13.5%. The historical average is 42.0%.
Based on historical data, Silgan Holdings Inc. is trading at a P/E of 13.8x. This is at the 28th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Silgan Holdings Inc.'s current dividend yield is 2.16% with a payout ratio of 29.8%.
Silgan Holdings Inc. has 17.7% gross margin and 10.2% operating margin. Operating margin between 10-20% is typical for established companies.
Silgan Holdings Inc.'s Debt/EBITDA ratio is 4.7x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Leverage data discrepancy and EPS miss
Metrics are mathematically derived from official filings.
Discounted as a Mature Can Maker
Trading at 8.2x EV/EBITDA and 10.8x forward P/E, Silgan's multiples sit below specialty peers like AptarGroup (12.0x EV/EBITDA), reflecting a market view of low-growth packaging despite a mix shift toward dispensing.
The forward P/E of 10.77 implies the market is pricing in minimal earnings growth, yet the Dispensing segment's rising EBITDA contribution suggests a potential re-rating if that mix shift is sustained. Compared to Sealed Air's 14.3x and AptarGroup's 12.0x EV/EBITDA, Silgan's 8.2x appears to embed a conglomerate discount that may narrow as the higher-margin dispensing business gains weight. Investors should monitor whether the market continues to value Silgan as a metal can pure-play or begins to credit its specialty closures growth.
Margins Capped by Pass-Through Contracts
Gross margin has hovered near 17-18% over the past year, with operating margin at 10.2% in 2026Q2, reflecting the structural ceiling imposed by raw material pass-through agreements and a mix weighted toward lower-margin metal containers.
The stability of gross margin around 17.7% despite commodity price swings indicates that pass-through mechanisms protect dollar profits but limit margin expansion. Operating margin of 10.2% in 2026Q2 is consistent with the trailing range, suggesting no material operating leverage despite revenue seasonality. The net margin of 4.6% is dampened by amortization from past acquisitions, making operating cash flow a more reliable gauge of earning power than GAAP net income.
Returns Stuck in Single Digits
ROIC has remained between 1.6% and 2.5% over the last ten quarters, while ROE peaked at 5.0% in 2025Q3, indicating that the company is not compounding returns on invested capital at an accelerating pace.
The low ROIC, even when annualized, suggests that Silgan's M&A-driven growth has not generated returns above its cost of capital, a common challenge in mature packaging. The slight uptick in ROIC to 2.2% in 2025Q3 aligns with peak harvest season, but the overall trend is flat, implying that margin improvements from the dispensing segment have yet to move the needle. This may indicate that the company is creating value through cash generation rather than through high incremental returns.
Working Capital Swings Reflect Harvest Cycles
The cash conversion cycle averaged roughly 75 days over the past year, with DSO ranging from 49 to 79 days and DPO from 42 to 96 days, highlighting the seasonal volatility tied to the metal container harvest period.
The extreme swings in DSO and DPO—such as DPO jumping from 44 days in 2025Q3 to 96 days in 2025Q4—reflect the timing of raw material purchases and customer payments, not a structural inefficiency. The negative FCF margin in Q1 2026 (-56.5%) and Q2 2026 (-15.7%) is a seasonal artifact, as working capital builds ahead of the harvest, while Q4 2025 showed a positive 83.2% FCF margin. Asset turnover has been stable near 0.17, indicating that revenue growth is not translating into improved asset efficiency.
Leverage Steady but Data Raises Questions
Debt-to-equity has held near 2.0 over the past year, with interest coverage ranging from 2.1x to 4.0x, but the reported D/E of 2.03 contradicts historical norms of 3-4x net debt/EBITDA, warranting further investigation.
The stability of D/E around 2.0 suggests a consistent capital structure, but the discrepancy with historical leverage levels implies either a recent deleveraging or a data error. Interest coverage of 3.57x in 2026Q2 is adequate but leaves limited cushion if rates rise or EBITDA contracts. The elevated D/EBITDA of 28.76 in 2026Q2 is likely distorted by seasonal EBITDA troughs, but it underscores the need to monitor refinancing risk given the company's reliance on debt-funded acquisitions.
Liquidity Adequate but Seasonal Strain
The current ratio improved to 1.27 in 2026Q2 from 1.04 in 2024Q1, but cash dropped to $351.5M from $822.9M in 2025Q4, reflecting the seasonal build of working capital ahead of the harvest.
The quick ratio of 0.80 in 2026Q2 indicates that inventory is a significant component of current assets, which could be a concern if demand weakens. However, the company's ability to generate strong cash flow in Q4 suggests that the seasonal liquidity squeeze is manageable. The negative FCF margins in Q1 and Q2 are typical for this business, but investors should watch whether the cash position rebuilds as expected in the second half.
Trading at a Discount to Specialty Peers
Silgan's EV/EBITDA of 8.2x is below AptarGroup's 12.0x and Sealed Air's 14.3x, while its ROE of 3.2% lags Sonoco's 18.3%, suggesting the market prices it as a low-growth metal can maker despite its dispensing exposure.
The valuation gap versus AptarGroup, a pure-play in dispensing, may reflect the market's skepticism about Silgan's ability to fully transform its mix. Silgan's net margin of 4.6% is lower than AptarGroup's 10.4%, but its P/E of 15.7x is also lower, implying that the market is not crediting the potential for margin expansion. If the dispensing segment continues to grow, Silgan could see multiple expansion, but the current discount suggests investors are waiting for proof.
Misapplied Metric: Net Debt/EBITDA
Net debt/EBITDA is commonly used to assess leverage, but for Silgan, the seasonal volatility in EBITDA and the pass-through nature of raw material costs make this metric misleading without adjusting for working capital swings.
The reported D/EBITDA of 28.76 in 2026Q2 is an artifact of low quarterly EBITDA, not a true reflection of solvency risk. Analysts should instead use a trailing twelve-month EBITDA and adjust for inventory holding gains or losses to get a clearer picture of leverage. Additionally, the company's ability to pass through raw material costs means that EBITDA can be inflated during commodity price spikes, masking underlying cash flow generation. A more appropriate metric would be net debt to normalized free cash flow, which smooths out seasonal and pass-through distortions.