CROWN HOLDINGS, INC.
$121.57
+1.09 (+0.90%) · delayed · Nov 13, 2026
Five-year price
52w $91.31 to $126.36
- Market cap
- $13.1B
- Enterprise value
- $18.3B
- P/E
- 19.1×
- 26.6× on 3y avg EPS
- EV / EBIT
- 11.8×
- FCF yield
- 8.5%
- ROIC
- 14.5%
- Debt / equity
- 1.96
- Piotroski F
- 7/9
Value scorecard · FY2025
Does it pass the value tests?
Quality
83
- ●ROIC > 12% (5y avg)5y avg ROIC 13.1%
- ○ROE > 15% (5y avg)5y avg ROE 13.7%
- ●Stable operating marginsMargin volatility 0.9% (σ, 5y)
- ●Earnings convert to cashFCF / net income 120% (5y avg)
- ●Growing revenueRevenue CAGR 5y 5.7%
- ●Shrinking share countDiluted shares -14.0% over 5y
Value
40
- ○P/E below 15P/E 19.1
- ●EV/EBIT below 12EV/EBIT 11.8
- ●FCF yield above 6%FCF yield 8.5%
- ○Price below Graham NumberGraham Number $63.12
- ○P/B below 3P/B 4.4
Safety
20
- ○Debt / equity below 0.5D/E 1.96
- ○Debt payable in < 4 yrs of earningsNet debt $5.1B
- ○Interest coverage > 8xCoverage 3.9x
- ○Current ratio > 1.5Current ratio 1.03
- ●Piotroski F-score ≥ 6F-score 7/9
Graham Defensive
29
- ●Adequate size (revenue > $2B)Revenue $12.4B
- ○Strong condition (current ratio ≥ 2)Current ratio 1.03
- ○Earnings stability (no loss, 10y)10 years of data
- ○Uninterrupted dividendsDividends paid every year on record
- ●Earnings growth ≥ 33% (10y, 3y avgs)EPS growth 48%
- ○Moderate P/E (≤ 15 on 3y avg EPS)P/E (3y avg) 26.6
- ○P/E × P/B ≤ 22.5Product 116.7
Valuation lab
What do you have to believe?
At $121.57, the market is pricing in about 3.0% annual free-cash-flow growth for the next decade (9% discount rate, 2.5% terminal growth).
Starting cash flow
Net debt $5.1B · 108M shares · 5y revenue CAGR 5.7%
Intrinsic value
$164.91
Price
$121.57
Margin of safety
26%
What the price implies
The market is paying for 3.0% annual cash-flow growth for 10 years at a 9.0% discount rate.
Terminal value share
58% of the value sits beyond year 10.
Financial statements
A decade of the record.
USD millions · fiscal years · source: SEC 10-K XBRL
| Line item | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 8,284 | 8,698 | 11,151 | 9,559 | 9,392 | 11,394 | 12,943 | 12,010 | 11,801 | 12,365 |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Operating income | 997 | 1,024 | 1,096 | 1,027 | 1,048 | 1,363 | 1,336 | 1,269 | 1,419 | 1,553 |
| Operating margin | 12.0% | 11.8% | 9.8% | 10.7% | 11.2% | 12.0% | 10.3% | 10.6% | 12.0% | 12.6% |
| 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 |
| Net income | 496 | 323 | 439 | 510 | 579 | (560) | 727 | 450 | 424 | 738 |
| EPS (diluted) | 3.56 | 2.38 | 3.28 | 3.78 | 4.30 | -4.30 | 5.99 | 3.76 | 3.55 | 6.38 |
| Diluted shares | 139 | 136 | 134 | 135 | 135 | 130 | 121 | 120 | 119 | 116 |
Who owns it