# Sealed Air Corporation (SEE) — Financial Analysis

**Exchange:** NYSE  
**Coverage as of:** 2026-Q2  
**Updated:** 2026-05-18  
**Tier:** Free primer (step 2 of 19)  
**Sibling pages:** /stocks/SEE/thesis · /stocks/SEE/memo

## 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 ($1.00) adds 8 dimensions not included here:

- Revenue Breakdown — segment revenue, geographic mix, product-line margins
- Financial Trends — QoQ momentum, leading indicators, inflection points
- Balance Sheet — debt structure, dilution risk, working capital dynamics
- Capital Allocation — ROIC, buyback cadence, reinvestment efficiency
- Earnings Analysis — beats/misses, guidance vs actuals, transcript highlights
- Competitive Positioning — market share, pricing power, peer benchmarks
- Industry Context — TAM, sector tailwinds/headwinds, regulatory backdrop

**API endpoint:** GET /api/v1/research/SEE/fundamental

## Navigation

- Overview: /stocks/SEE
- Financials (this page): /stocks/SEE/financials
- Thesis: /stocks/SEE/thesis
- Investment Memo: /stocks/SEE/memo
- Coverage universe: /stocks