Sealed Air Corporation
SEEFinancial Analysis · Updated May 18, 2026 · Coverage 2026-Q2
Financial Snapshot
ticker: SEE step: 04 generated: 2026-05-13 source: quick-research
Sealed Air Corporation (SEE) — Financial Snapshot
Income Statement Summary
| Metric | FY2022 | FY2023 | FY2024 | YoY |
|---|---|---|---|---|
| Revenue | $5.64B | $5.49B | $5.39B | -2% |
| Gross Margin | ~30% | ~30% | 30.1% | flat |
| Operating Margin | ~16% | ~14% | 15.1% | +1pp |
| Net Income | $491M | $339M | $506M | +49% |
| EPS (diluted) | $3.33 | $2.34 | ~$3.45 | +47% |
FY2025 net sales: $5.36B (essentially flat vs. FY2024)
Cash Flow & Balance Sheet (FY2024)
| Metric | Value |
|---|---|
| Operating Cash Flow | ~$660M |
| Free Cash Flow | $508M |
| Cash & Equivalents | ~$335M |
| Total Debt | ~$5.2B |
Key Ratios (approximate)
- P/E: ~12x (based on $42.15 acquisition price) | EV/EBITDA: ~10x | FCF Yield: ~9%
- Revenue Growth (FY2024): -2% | FCF Margin: ~9%
Growth Profile
Sealed Air has experienced modest revenue declines since peaking at ~$5.6B in 2022, driven by volume softness in Protective (e-commerce normalization post-COVID) and modest Food segment headwinds. The company reorganized into Food and Protective segments in Q4 2024 to sharpen focus. Food is growing low single digits; Protective is stabilizing after multi-year volume declines, with management citing first positive volume inflection since 2021 in 2025.
Forward Estimates
- FY2026 revenue: ~$5.4–5.5B (flat to slight growth), with the CD&R take-private expected to close mid-2026
- FY2026 adj. EPS: not publicly guided given pending acquisition
- Acquisition price: $42.15/share all-cash; CD&R deal announced 2025, closing mid-2026
Deeper Financial Analysis
The fundamental tier adds 9 additional research dimensions for $SEE.
Revenue Breakdown
Segment revenue, geographic mix, product-line contribution margins, and cohort dynamics.
Financial Trends
Quarter-over-quarter momentum, leading indicators, and inflection point analysis.
Balance Sheet
Debt structure, liquidity runway, dilution risk, and working capital dynamics.
Capital Allocation
Buyback cadence, M&A appetite, dividend policy, and reinvestment priorities.
Returns on Capital (ROIC)
Multi-year ROIC vs. WACC, marginal returns on reinvestment, sales-to-invested-capital efficiency, and moat spread.
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