An industry chapter · Containers & Packaging

Containers & Packaging

24 members, AMBP to SWIM, A to Z by ticker.

Gross profitability: median 19% — gross profit as a share of total assets, each member's median across its readable years; read on 21 of 24 members
Capital intensity: median 4.3% — capital expenditure as a share of revenue, each member's median across its readable years; read on 24 of 24 members
Net cash: 2 of the 24 members with a readable debt line hold more cash and short-term investments than total debt

Figures describe the list as a group, from each member's own filed record; they name no member and form no rank. A member missing an input is absent from that median, never counted against the others.

From the latest filings · data as of July 9, 2026.

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AMBP Ardagh Metal Packaging S.A.

Revenue is Americas (58%) and Europe (42%).

Owner earnings 2019–2025 $176M$71M$115M($154M)$248M$283M$276M

Retained capital Paid out $1.0B more than it earned over 2019–2025; annual owner earnings grew $148M.

Balance sheet Heavy net debt, $3.9B · dividend paid 4 of 7 yrs, never cut

AMCR Amcor

Amcor is the global leader in consumer packaging and dispensing solutions for nutrition, health, beauty and wellness categories.

Owner earnings 2017–2025 $530M$506M$444M$984M$993M$999M$735M$829M$810M

Retained capital Paid out $2.0B more than it earned over 2017–2025; annual owner earnings grew $298M.

Balance sheet Heavy net debt, $13.2B · dividend paid 9 of 9 yrs, cut at least once

ATR AptarGroup Inc.

We partner with our customers by providing innovative solutions and end market expertise.

Owner earnings 2016–2025 $196M$168M$102M$272M$324M$129M$245M$327M$367M$300M

Retained capital Retained $791M of earnings over 2016–2025; annual owner earnings grew $175M, $0.22 per $1 retained.

Balance sheet Modest net debt, $889M · buybacks at an average near $6.27 · dividend paid 10 of 10 yrs, never cut

AVY Avery Dennison Corporation

We are a global leader in materials science and digital identification solutions.

Owner earnings 2016–2025 $405M$455M$277M$527M$550M$683M$561M$730M$712M

Retained capital Retained $198M of earnings over 2016–2025; annual owner earnings grew $289M.

Balance sheet Meaningful net debt, $3.5B · buybacks at an average near $90.50 · dividend paid 9 of 9 yrs, never cut

AWI Armstrong World Industries Inc

We manufacture and source products made of numerous materials, including mineral fiber, fiberglass, metal, felt, architectural resin and glass, wood, wood fiber and glass-reinforced-gypsum.

Owner earnings 2016–2025 ($55M)$81M$131M$111M$163M$107M$108M$150M$184M$246M

Retained capital Retained $219M of earnings over 2016–2025; annual owner earnings grew $141M, $0.64 per $1 retained.

Balance sheet Modest net debt, $294M · dividend paid 8 of 10 yrs, never cut

AZEK The Azek Company Inc.

A consumer-brand business, where the durable asset is the brand and the pricing power it commands.

Owner earnings 2018–2024 $25M$32M$3M$106M($13M)$274M$147M

Retained capital Paid out $203M more than it earned over 2018–2024; annual owner earnings grew $116M.

Balance sheet Modest net debt, $269M

BALL Ball Corp.

Ball Corporation and its consolidated subsidiaries is one of the world's leading suppliers of aluminum packaging for the beverage, personal care and household products industries.

Owner earnings 2016–2025 ($260M)$922M$750M$950M$764M$1.1B($293M)$1.3B($369M)$788M

Retained capital Retained $1.1B of earnings over 2016–2025; annual owner earnings grew $88M, $0.08 per $1 retained.

Balance sheet Heavy net debt, $5.8B · dividend paid 10 of 10 yrs, never cut

BERY Berry Global

A consumer-brand business, where the durable asset is the brand and the pricing power it commands.

Owner earnings 2016–2024 $569M$706M$671M$802M$947M$904M$876M$926M$854M

Retained capital Retained $2.9B of earnings over 2016–2024; annual owner earnings grew $237M, $0.08 per $1 retained.

Balance sheet Heavy net debt, $7.2B · buybacks at an average near $58.59 · dividend paid 2 of 9 yrs, never cut

CCK Crown Holdings Inc.

Crown Holdings Inc. is a Pennsylvania corporation.

Owner earnings 2016–2025 ($381M)($498M)$109M$772M$893M$458M$343M$954M$789M$1.1B

Retained capital Retained $731M of earnings over 2016–2025; annual owner earnings grew $1.2B, $1.66 per $1 retained.

Balance sheet Meaningful net debt, $5.1B · buybacks at an average near $90.01 · dividend paid 5 of 10 yrs, never cut

DSWL Deswell Industries Inc.

The Company's shares are traded exclusively on the NASDAQ Global Market under the symbol "DSWL."

Owner earnings 2016–2025 ($28K)($3M)$4M$1M$13M$3M($2M)$12M$13M$13M

Retained capital Retained $18M of earnings over 2016–2025; annual owner earnings grew $13M, $0.69 per $1 retained.

Balance sheet Net cash, debt-free, +$53M · dividend paid 10 of 10 yrs, cut at least once

ENTG Entegris Inc.

Entegris Inc. is a leading supplier of critical advanced materials and process solutions for the semiconductor and other high-technology industries.

Owner earnings 2016–2025 $142M$200M$202M$270M$315M$262M$228M$472M$444M$490M

Retained capital Retained $1.5B of earnings over 2016–2025; annual owner earnings grew $287M, $0.19 per $1 retained.

Balance sheet Heavy net debt, $3.3B · dividend paid 9 of 10 yrs, never cut

GEF Greif

We are a leading global producer of industrial packaging products and services with operations in over 35 countries.

Owner earnings 2016–2024 $201M$208M$113M$233M$323M$255M$481M$436M$170M

Retained capital Retained $978M of earnings over 2016–2024; annual owner earnings grew $188M, $0.19 per $1 retained.

Balance sheet Modest net debt, $658M · buybacks at an average near $416 · dividend paid 9 of 9 yrs

GPK Graphic Packaging Holding

Graphic Packaging Holding is a leading producer of consumer goods packaging made from renewable or recycled materials.

Owner earnings 2016–2024 ($205M)($433M)($753M)$644M$795M$582M$1.1B$1.1B$806M

Retained capital Retained $1.2B of earnings over 2016–2024; annual owner earnings grew $1.5B, $1.17 per $1 retained.

Balance sheet Heavy net debt, $5.3B · buybacks at an average near $12.79 · dividend paid 9 of 9 yrs, cut at least once

KRT Karat Packaging Inc.

We are a rapidly-growing and nimble distributor and manufacturer of disposable foodservice products and related items, including food and take-out containers, bags, boxes, tableware, cups, lids, cutlery, straws, specialty beverage ingredients, gloves, janitorial supplies, and other products.

Owner earnings 2020–2025 $6M$5M$27M$51M$47M$33M

Retained capital Retained $57M of earnings over 2020–2025; annual owner earnings grew $31M, $0.55 per $1 retained.

Balance sheet Net cash, +$25M · dividend paid 5 of 6 yrs, cut at least once

MYE Myers Industries Inc.

Myers Industries Inc. designs, manufactures, and markets a variety of plastic, metal and rubber products.

Owner earnings 2016–2025 $21M$39M$56M$44M$33M$27M$48M$77M$61M$67M

Retained capital Retained $41M of earnings over 2016–2025; annual owner earnings grew $30M, $0.72 per $1 retained.

Balance sheet Heavy net debt, $301M · dividend paid 10 of 10 yrs, never cut

NWL Newell Brands

Newell Brands is a leading global consumer goods company with a strong portfolio of well-known brands, including Rubbermaid, Sharpie, Graco, Coleman, Rubbermaid Commercial Products, Yankee Candle, Paper Mate, FoodSaver, Dymo, EXPO, Elmer's, Oster, NUK, Spontex and Campingaz.

Owner earnings 2016–2025 $1.4B$560M$296M$779M$1.2B$595M($584M)$646M$237M$17M

Retained capital Paid out $9.6B more than it earned over 2016–2025; annual owner earnings fell $452M.

Balance sheet Heavy net debt, $4.5B · dividend paid 10 of 10 yrs, cut at least once

OI O-I Glass Inc.

It competes in the glass container segment of the rigid packaging market and is the leading glass container manufacturer in most of the countries where it has manufacturing facilities.

Owner earnings 2016–2025 $297M$280M$255M($21M)$146M$289M($385M)$130M($128M)$168M

Retained capital Retained $450M of earnings over 2016–2025; annual owner earnings fell $221M, $-0.49 per $1 retained.

Balance sheet Heavy net debt, $4.4B · buybacks at an average near $16.57 · dividend paid 2 of 10 yrs, cut at least once

PACK Ranpak Holdings Corp

Ranpak Holdings Corp is a leading provider of Protective Packaging Solutions products and end-of-line automation solutions for e-commerce and industrial supply chains.

Owner earnings 2017–2025 $19M$17M$32M($200K)($44M)($3M)$13M($4M)

Retained capital Paid out $137M more than it earned over 2017–2025; annual owner earnings fell $20M.

Balance sheet Net debt against an operating loss, $337M

PKG Packaging Corporation of America

Packaging Corporation of America is the third largest producer of containerboard products and a leading producer of uncoated freesheet paper in North America.

Owner earnings 2016–2025 $533M$513M$769M$808M$612M$677M$1.0B$845M$666M$905M

Retained capital Retained $2.8B of earnings over 2016–2025; annual owner earnings grew $200M, $0.07 per $1 retained.

Balance sheet Meaningful net debt, $3.4B · buybacks at an average near $50.47 · dividend paid 10 of 10 yrs, never cut

SEE Sealed Air

A chemicals business, converting feedstocks into products at a spread the cycle moves.

Owner earnings 2016–2025 $693M$241M$297M$360M$556M$497M$429M$272M$508M$459M

Retained capital Retained $271M of earnings over 2016–2025; annual owner earnings grew $3M.

Balance sheet Heavy net debt, $4.3B · dividend paid 10 of 10 yrs, never cut

SLGN Silgan Holdings

We are a leading manufacturer of sustainable rigid packaging solutions for the world's essential consumer goods products.

Owner earnings 2016–2025 $251M$215M$316M$276M$378M$325M$533M$256M$459M$423M

Retained capital Retained $1.4B of earnings over 2016–2025; annual owner earnings grew $118M, $0.08 per $1 retained.

Balance sheet Heavy net debt, $3.3B · dividend paid 10 of 10 yrs, never cut

SON Sonoco

Sonoco Products Company is a South Carolina corporation founded in Hartsville, South Carolina, in 1899 as the Southern Novelty Company with the guiding principle that People Build Businesses by doing the right things.

Owner earnings 2016–2025 $212M$159M$397M$230M$511M$43M$180M$520M$441M$346M

Retained capital Retained $1.1B of earnings over 2016–2025; annual owner earnings grew $179M, $0.16 per $1 retained.

Balance sheet Meaningful net debt, $3.9B · dividend paid 10 of 10 yrs, never cut

SW Smurfit WestRock plc

Financial Conduct Authority, and Smurfit Westrock ordinary shares trade on the NYSE and the London Stock Exchange's main market for listed securities.

Owner earnings 2022–2025 $869M$979M$17M$1.2B

Retained capital Retained $498M of earnings over 2022–2025; annual owner earnings grew $110M, $0.22 per $1 retained.

Balance sheet Heavy net debt, $12.9B · dividend paid 4 of 4 yrs, never cut

SWIM Latham Group Inc.

We are the largest designer, manufacturer, and marketer of in-ground residential swimming pools in North America, Australia, and New Zealand.

Owner earnings 2019–2025 $27M$47M$9M($7M)$83M$41M$38M

Retained capital Paid out $617M more than it earned over 2019–2025; annual owner earnings grew $26M.

Balance sheet Heavy net debt, $209M

The same four lines for every member, in strict ticker order; a figure that could not be read renders as "not read," never as a mark against the record beside it. The header describes the list and names no member; the entries carry no ranking and form no score. What a chapter cannot carry — understanding of the business, and a price — is yours.