TacticScaleWhat Graphic Packaging Holding Does & How It Makes Money (GPK)
Updated October 2026 · reflects Graphic Packaging Holding's latest reported financials
Paperboard packaging maker for food, beverage and consumer brands. It makes money by selling paperboard packaging to consumer packaged goods companies and cups, lids and food containers to foodservice customers and quick-service restaurants, through its own sales offices and third-party brokers.
How Graphic Packaging Holding makes money
It makes money by selling paperboard packaging to consumer packaged goods companies and cups, lids and food containers to foodservice customers and quick-service restaurants, through its own sales offices and third-party brokers. It also earns revenue from designing, making and installing specialized packaging machines.
What Graphic Packaging Holding does
Graphic Packaging Holding Company, based in Atlanta, designs, produces and sells consumer packaging, mainly made of paperboard. Its customers are brands in food, beverage, foodservice, household and other consumer products across the Americas, Europe and Asia Pacific. It was incorporated in 2007. The company has two segments. Americas Paperboard Packaging sells paperboard packaging to consumer packaged goods companies, and cups, lids and food containers to foodservice companies and quick-service restaurants. International Paperboard Packaging serves similar markets outside the Americas, including healthcare and beauty. The company also designs, makes and installs specialized packaging machines, and sells through its own sales offices and third-party brokers.
Products & services
- Paperboard folding cartons for food and consumer goods
- Beverage paperboard packaging
- Foodservice cups and lids
- Food containers for quick-service restaurants
- Healthcare and beauty paperboard packaging
- Specialized packaging machines
What is Graphic Packaging Holding worth?
On an owner-earnings DCF, Graphic Packaging Holding's most-likely value is about $30 versus a recent price near $8 (256% below fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$21) with a margin of safety — so the honest verdict here is “Deeply discounted.” Fair value earns its keep only at the extremes, not in the wide middle.
On the financials alone, $8 is below even the no-growth floor ($21); the market's discount — expectations and sentiment beyond the numbers — is pricing in ≈ -18.8%/yr. A bargain only if that pessimism is overdone.
⚠ High leverage — net debt is 6.9× annual cash flow. Net debt is subtracted from this fair value, but refinancing at higher rates, principal timing, and share dilution aren’t modeled — the equity can be worth far less if cash flow weakens.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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