# Sonoco Products Company (SON) — Financial Analysis

**Exchange:** NYSE  
**Coverage as of:** 2026-Q2  
**Updated:** 2026-05-13  
**Tier:** Free primer (step 2 of 19)  
**Sibling pages:** /stocks/SON/thesis · /stocks/SON/memo

## Financial Snapshot

---
ticker: SON
step: 04
generated: 2026-05-13
source: quick-research
---

### Sonoco Products Company (SON) — Financial Snapshot

#### Income Statement Summary

| Metric | FY2022 | FY2023 | FY2024 | YoY |
|--------|--------|--------|--------|-----|
| Revenue | ~$6.7B | ~$6.8B | ~$5.7B | ~(16%) |
|Gross Margin | ~24% | ~24% | ~25% | |
| Operating Margin | ~10% | ~10% | ~11% | |
| Net Income | ~$500M | ~$480M | ~$350M | |
| Adj. EPS | ~$5.50 | ~$5.20 | ~$5.15 | |

*FY2024 revenue decline reflects strategic divestitures (ThermoSafe and other businesses) partially offset by the December 4, 2024 Eviosys acquisition close (only ~1 month contribution in FY2024). FY2025 is the first full year with Eviosys — Q1 2025 revenue surged 30.6% to $1.7B. FY2026 guidance: $7.25–7.75B revenue. Adj. EPS FY2024 guidance: $5.05–$5.25.*

#### Cash Flow & Balance Sheet (FY2024 / FY2025)

| Metric | Value |
|--------|-------|
| Operating Cash Flow (FY2025) | $689.8M (down 17% from Eviosys integration costs) |
| Free Cash Flow | ~$400–450M (capex-heavy integration year) |
| Cash & Equivalents | ~$200M |
| Total Debt | ~$6.5B (post-Eviosys acquisition) |
| Target Leverage | Low 3x Net Debt/EBITDA by 2026 |

#### Key Ratios (approximate)
- P/E: ~10x (trailing) | P/FCF: ~8.4x (2026 estimate) | Dividend Yield: ~4%
- Revenue Growth (FY2025): +30%+ (Eviosys full-year contribution)
- FY2026 Revenue Guidance: $7.25–7.75B
- Adj. EPS FY2024: ~$5.15 | FY2025: growing toward $5.50-6.00

#### Growth Profile
Sonoco's underlying organic growth is modest (1–3% annually), typical for industrial packaging. The Eviosys acquisition is the transformative event: 25% EPS accretive in FY2025, creating the world's leading metal food can platform in EMEA. Synergies of $100M by end of 2026 will further expand margins. The company is targeting debt reduction to the low-3x range by 2026 via strong free cash flow. Trading at 8.4x 2026 FCF — near historical and sector lows.

#### Forward Estimates
- FY2026 Revenue guidance: $7.25–7.75B
- $100M synergy run-rate from Eviosys by end of 2026
- $65M+ additional cost savings program ongoing
- ThermoSafe divestiture proceeds support debt reduction
- 8 analysts covering; consensus Buy; 12-month target $62 (~13% upside)

## 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/SON/fundamental

## Navigation

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