olivLaw · US equity research
Crown Holdings, Inc. CCK
Metal Cans · SIC 3411 · Vertical: Fabricated metal products (SIC 341x)
Crown Holdings is a global maker of metal packaging, above all aluminum beverage cans, with net sales in fiscal 2025 of about 12.4 billion USD. Its relevance now lies in rising demand for aluminum cans set against cost inflation in raw materials and price adjustments.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 03 Nov 2026, Crown Holdings, Inc. (CCK) stock was 120.73 USD (−2.04% on the day), with market capitalisation 13.0 bn USD, P/E 16.8 on diluted EPS of 7.18 USD over the last 12 months, dividend yield 1.09%, beta 0.55, 52-week range 92.04–123.24 USD. Latest reported quarter (Q3 2026): revenue of 3.7 bn USD (+15.9% YoY), net income of 225.0 m USD (+5.1% YoY), diluted EPS 2.08 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 65.4
- strong (55–70)
- Bollinger (20, 2)
- 105.89 – 123.53
- in the upper half of the band · %B 0.84 · band width 15.4%
- SMA 50 / 200
- 112.90 / 108.57
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 2.58 / 1.78
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +13.8% | −2.0% | +15.8 pp | — |
| 3 months | −0.8% | −2.2% | +1.4 pp | — |
| 6 months | +22.4% | +4.3% | +18.1 pp | — |
| Year to date | +17.2% | +10.6% | +6.7 pp | — |
| 1 year | +24.2% | +10.5% | +13.7 pp | +23.8% |
| 3 years | +44.9% | +73.7% | −28.7 pp | +14.1% |
| 5 years | +13.8% | +61.7% | −48.0 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.9 bn | 2.9 bn | 3.1 bn | 3.2 bn | 3.1 bn | 3.3 bn | 3.7 bn | 3.7 bn |
| Cost of revenue | 2.3 bn | 2.3 bn | 2.4 bn | 2.5 bn | 2.5 bn | 2.6 bn | 2.9 bn | 3.0 bn |
| SG&A | 147.0 m | 152.0 m | 161.0 m | 155.0 m | 164.0 m | 159.0 m | 166.0 m | 159.0 m |
| Operating income | 351.0 m | 365.0 m | 391.0 m | 423.0 m | 374.0 m | 365.0 m | 464.0 m | 442.0 m |
| Interest expense | 108.0 m | 99.0 m | 103.0 m | 101.0 m | 95.0 m | 97.0 m | 105.0 m | 97.0 m |
| Pre-tax income | 521.0 m | 272.0 m | 293.0 m | 322.0 m | 273.0 m | 275.0 m | 365.0 m | 348.0 m |
| Income tax | 128.0 m | 46.0 m | 78.0 m | 84.0 m | 73.0 m | 70.0 m | 89.0 m | 89.0 m |
| Net income | 358.0 m | 193.0 m | 181.0 m | 214.0 m | 150.0 m | 175.0 m | 245.0 m | 225.0 m |
| Diluted EPS | 3.02 ≈ | 1.65 | 1.56 | 1.85 | 1.31 ≈ | 1.56 | 2.23 | 2.08 |
| Operating cash flow | 295.0 m | 14.0 m | 449.0 m ≈ | 580.0 m ≈ | 487.0 m | -54.0 m | 713.0 m ≈ | 406.0 m ≈ |
| Capex | 149.0 m | 33.0 m | 56.0 m ≈ | 92.0 m ≈ | 232.0 m | 87.0 m | 116.0 m ≈ | 107.0 m ≈ |
| Dividends paid | 29.0 m | 30.0 m | 30.0 m ≈ | 30.0 m ≈ | 30.0 m | 39.0 m | 38.0 m ≈ | 38.0 m ≈ |
| Share repurchases | 100.0 m | 203.0 m | 6.0 m ≈ | 105.0 m ≈ | 191.0 m | 212.0 m | 305.0 m ≈ | 81.0 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 33 percentile of its own 36-quarter history (min 12.0, median 18.9, max 118.7; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 11.2 bn | 11.7 bn | 9.4 bn | 11.4 bn | 12.9 bn | 12.0 bn | 11.8 bn | 12.4 bn |
| Revenue YoY | +28.2% | +4.6% | −19.5% | +21.3% | +13.6% | −7.2% | −1.7% | +4.8% |
| Net income | 439.0 m | 510.0 m | 579.0 m | -560.0 m | 727.0 m | 450.0 m | 424.0 m | 738.0 m |
| Net income YoY | +35.9% | +16.2% | +13.5% | −196.7% | unavailable | −38.1% | −5.8% | +74.1% |
| Diluted EPS | 3.28 | 3.78 | 4.30 | -4.30 | 5.99 | 3.76 | 3.55 | 6.38 |
| Diluted EPS YoY | +37.8% | +15.2% | +13.8% | −200.0% | unavailable | −37.2% | −5.6% | +79.7% |
| net % | 3.9% | 4.4% | 6.2% | -4.9% | 5.6% | 3.7% | 3.6% | 6.0% |
| Free cash flow | 109.0 m | 772.0 m | 761.0 m | 89.0 m | -36.0 m | 660.0 m | 789.0 m | 1.1 bn |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 764.0 m USD
- Financial debt
- 5.5 bn USD
- Net debt
- 4.7 bn USD
- Equity
- 3.5 bn USD
- Total assets
- 14.3 bn USD
- Debt / equity
- 1.58x
- Current ratio
- 1.03x
- ROE
- 22.0%
- ROA
- 5.2%
- FCF margin
- 9.0%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 9.4 bn | 11.4 bn | 12.9 bn | 12.0 bn | 11.8 bn | 12.4 bn | SEC (XBRL)· 27 Feb 2026verified |
| Cost of revenue | 7.4 bn | 9.0 bn | 10.6 bn | 9.5 bn | 9.3 bn | 9.6 bn | SEC (XBRL)· 27 Feb 2026verified |
| Gross profit | 2.0 bn ≈ | 2.4 bn ≈ | 2.3 bn ≈ | 2.5 bn ≈ | 2.5 bn ≈ | 2.7 bn ≈ | SEC (XBRL)· 27 Feb 2026derived |
| Research & development | 48.0 m | 47.0 m | 34.0 m | 33.0 m | 32.0 m | 33.0 m | SEC (XBRL)· 27 Feb 2026verified |
| SG&A | 533.0 m | 583.0 m | 556.0 m | 582.0 m | 597.0 m | 632.0 m | SEC (XBRL)· 27 Feb 2026verified |
| Operating income | 1.0 bn | 1.4 bn | 1.3 bn | 1.3 bn | 1.4 bn | 1.6 bn | SEC (XBRL)· 27 Feb 2026verified |
| Interest expense | 290.0 m | 253.0 m | 284.0 m | 436.0 m | 452.0 m | 398.0 m | SEC (XBRL)· 27 Feb 2026verified |
| Pre-tax income | 725.0 m | -419.0 m | 1.1 bn | 795.0 m | 743.0 m | 1.2 bn | SEC (XBRL)· 27 Feb 2026verified |
| Income tax | 199.0 m | -57.0 m | 243.0 m | 222.0 m | 183.0 m | 281.0 m | SEC (XBRL)· 27 Feb 2026verified |
| Net income | 579.0 m | -560.0 m | 727.0 m | 450.0 m | 424.0 m | 738.0 m | SEC (XBRL)· 27 Feb 2026verified |
| Diluted EPS | 4.30 | -4.30 | 5.99 | 3.76 | 3.55 | 6.38 | SEC (XBRL)· 27 Feb 2026verified |
| Weighted average diluted shares | 134.6 m | 130.4 m | 121.4 m | 119.7 m | 119.4 m | 115.7 m | SEC (XBRL)· 27 Feb 2026verified |
| Dividend per share | — | 0.80 | 0.88 | 0.96 | 1.00 | 1.04 | SEC (XBRL)· 27 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 1.2 bn | 531.0 m | 550.0 m | 1.3 bn | 918.0 m | 764.0 m | SEC (XBRL)· 27 Feb 2026verified |
| Receivables | — | — | 1.1 bn | 1.1 bn | 1.0 bn | 1.0 bn | SEC (XBRL)· 27 Feb 2026verified |
| Inventories | 1.3 bn | 1.7 bn | 2.0 bn | 1.6 bn | 1.4 bn | 1.6 bn | SEC (XBRL)· 27 Feb 2026verified |
| Current assets | 4.9 bn | 4.5 bn | 4.7 bn | 4.8 bn | 4.2 bn | 4.4 bn | SEC (XBRL)· 27 Feb 2026verified |
| Property, plant & equipment, net | 3.7 bn | 4.0 bn | 4.5 bn | 5.1 bn | 4.9 bn | 5.2 bn | SEC (XBRL)· 27 Feb 2026verified |
| Goodwill | 3.1 bn | 3.0 bn | 3.0 bn | 3.1 bn | 3.0 bn | 3.2 bn | SEC (XBRL)· 27 Feb 2026verified |
| Intangibles (excl. goodwill) | 1.8 bn | 1.5 bn | 1.4 bn | 1.3 bn | 1.0 bn | 959.0 m | SEC (XBRL)· 27 Feb 2026verified |
| Total assets | 16.7 bn | 13.9 bn | 14.3 bn | 15.0 bn | 13.8 bn | 14.3 bn | SEC (XBRL)· 27 Feb 2026verified |
| Accounts payable | 2.1 bn | 2.9 bn | 2.8 bn | 2.5 bn | 2.4 bn | 2.6 bn | SEC (XBRL)· 27 Feb 2026verified |
| Short-term debt | 104.0 m | 75.0 m | 76.0 m | 16.0 m | 66.0 m | 83.0 m | SEC (XBRL)· 27 Feb 2026verified |
| Long-term debt | 8.0 bn | 6.1 bn | 6.8 bn | 6.7 bn | 6.1 bn | 5.4 bn | SEC (XBRL)· 27 Feb 2026verified |
| Current liabilities | 4.3 bn | 4.1 bn | 3.9 bn | 4.2 bn | 3.5 bn | 4.3 bn | SEC (XBRL)· 27 Feb 2026verified |
| Equity | 2.6 bn | 2.3 bn | 2.3 bn | 2.9 bn | 3.2 bn | 3.5 bn | SEC (XBRL)· 27 Feb 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 1.3 bn | 905.0 m | 803.0 m | 1.5 bn | 1.2 bn | 1.5 bn | SEC (XBRL)· 27 Feb 2026verified |
| Capex | 554.0 m | 816.0 m | 839.0 m | 793.0 m | 403.0 m | 413.0 m | SEC (XBRL)· 27 Feb 2026verified |
| Free cash flow | 761.0 m ≈ | 89.0 m ≈ | -36.0 m ≈ | 660.0 m ≈ | 789.0 m ≈ | 1.1 bn ≈ | SEC (XBRL)· 27 Feb 2026derived |
| Investing cash flow | -535.0 m | 1.5 bn | -642.0 m | -804.0 m | -12.0 m | -320.0 m | SEC (XBRL)· 27 Feb 2026verified |
| Financing cash flow | -239.0 m | -2.9 bn | -25.0 m | 116.0 m | -1.5 bn | -1.4 bn | SEC (XBRL)· 27 Feb 2026verified |
| Dividends paid | 0 | 105.0 m | 106.0 m | 115.0 m | 119.0 m | 120.0 m | SEC (XBRL)· 27 Feb 2026verified |
| Share repurchases | 66.0 m | 950.0 m | 722.0 m | 12.0 m | 217.0 m | 505.0 m | SEC (XBRL)· 27 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
Score: 66 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
03 Nov 2026Source: olivLaw, closing series
Market cap: 13.0 bn USD
Key indicators
Coverage and freshness
Score by group
- Valuation76
- Returns100
- Quality99
- Balance sheet36
- Growth7
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 120.62 – 241.29 USD.
Methods computed but outside the aggregate range: Dividend discount (DDM) (a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate).
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)120.62 – 241.29 (Mid 164.05)WACC 7.8% · starting FCFF 1.3 bn USD · terminal value share of EV 77%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): -10.8%
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/Eunavailable · not enough peers
- Dividend discount (DDM)outside the aggregate13.67 – 18.38 (Mid 15.68)a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 66/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 14.6% | 97 (on a fixed band) | 13% |
| Net margin · Quality | 5.8% | 100 (vs peers) | 8% |
| FCF conversion · Quality | 127.0% | 100 (on a fixed band) | 8% |
| Revenue CAGR 3Y · Growth | -1.5% | 0 (on a fixed band) | 11% |
| EPS CAGR 3Y · Growth | 2.1% | 14 (on a fixed band) | 11% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 4.2x | 41 (on a fixed band) | 8% |
| Current ratio · Balance sheet | 1.1x | 28 (on a fixed band) | 5% |
| P/E (TTM) · Valuation | 16.8x | 60 (on a fixed band) | 13% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 7.7% | 97 (on a fixed band) | 11% |
| Shareholder yield (distributions) · Returns | 7.2% | 100 (on a fixed band) | 8% |
| Payout ratio (FCF) · Returns | 14.4% | 100 (on a fixed band) | 5% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet36/100 · 2/3 factors with a value
- Growth7/100 · 2/2 factors with a value
- Quality99/100 · 3/3 factors with a value
- Returns100/100 · 2/2 factors with a value
- Valuation76/100 · 2/3 factors with a value
Memo
CROWN HOLDINGS, INC. (CCK). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 12.4 bn USD in 2025; YoY growth 4.8%; net margin 5.8%; ROE 26.7%.
The estimated value range is 120.62–241.29 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 164.05 USD, the price of 120.73 USD leaves a potential of 35.9% (value / price − 1) and a margin of safety of 26.4% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 66/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 14.6%
- Net margin: 5.8%
- FCF conversion: 127.0%
- FCF yield: 7.7%
- Shareholder yield (distributions): 7.2%
- Payout ratio (FCF): 14.4%
What contradicts it
- Revenue CAGR 3Y: -1.5%
- EPS CAGR 3Y: 2.1%
- Current ratio: 1.1x
Not assessed (insufficient data or a ratio without meaning): Net debt / EBITDA, EV/EBITDA.
Versus the vertical median
Fabricated metal products (SIC 341x) · same industry group (3-digit SIC) · compared with 5 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| BALLBall Corporation | 16.5 bn | 31.8 | 9.6% | 3.5% | +11.6% | +28% / +14% |
| CCKCrown Holdings, Inc. | 13.0 bn | 16.8 | 26.7% | 5.8% | +4.8% | +24% / +45% |
| SLGNSilgan Holdings Inc | 4.4 bn | 16.3 | 11.7% | 4.0% | +10.7% | +5% / −1% |
| AMBPArdagh Metal Packaging S.A. | 2.7 bn | — | — | 0.2% | +12.0% | +22% / +14% |
| JBDIJBDI Holdings Limited | 45.5 m | 239.0 | 3.1% | 1.4% | +0.9% | +30% / unavailable |
| GEFGreif, Inc. | — | — | 6.5% | 4.4% | +4.3% | +24% / +16% |
1- and 3-year price returns: for CCK from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 68.70 Total return -42% · Per year -42% | 121.82 Total return 2% · Per year 2% | 184.01 Total return 54% · Per year 54% |
| 3 years | 58.86 Total return -49% · Per year -20% | 118.17 Total return 1% · Per year 0% | 197.07 Total return 67% · Per year 19% |
| 5 years | 50.43 Total return -55% · Per year -15% | 114.62 Total return 0% · Per year 0% | 211.06 Total return 82% · Per year 13% |
- Exit P/E± 29.54
- Net margin± 20.68
- Annual revenue growth± 18.01
- Annual dilution± 1.74
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 19 Oct 2026; since then the company filed 10-Q (28 Oct 2026).
In brief
Crown Holdings is a global maker of metal packaging, above all aluminum beverage cans, with net sales in fiscal 2025 of about 12.4 billion USD 1. Its relevance now lies in rising demand for aluminum cans set against cost inflation in raw materials and price adjustments 23.
SWOT
Strengths
- Global leadership in beverage cans, with a broad customer base and plants in many countries.
- Strong cash generation and a balance sheet regarded as healthy, which support investment and buybacks.
- Sustainability recognition and good ESG ratings that help with brands sensitive to environmental impact.
Weaknesses
- Heavy reliance on a few large beverage customers could hurt revenue if they reduce orders.
- Exposure to volatile aluminum and steel prices can compress margins when costs cannot be passed on in full.
- High fixed costs mean gross margin can fall when capacity utilization is low.
Opportunities
- Growing markets such as India and Southeast Asia could add volume through dedicated capacity.
- Rising preference for cans as a beverage format could sustain growth over the long term.
- Buybacks and organic investment could create value if returns on capital stay high.
Threats
- Tariffs and retaliatory trade measures could raise raw material costs and reduce profits.
- Industry overcapacity could bring price pressure and loss of contracts.
- Alternative plastic or glass packaging could gain share if relative material prices shift.
Risks
- Raw material costshigh
Higher aluminum and steel prices could reduce profits if they cannot be passed to customers in time 1.
- Customer concentrationhigh
Loss of one of the major customers could have a significant adverse effect on segments and on the company 1.
- Tariffs and international trademedium
Tariffs and trade restrictions could affect supply costs and sales in several countries 12.
- Goodwill impairmentmedium
Goodwill of more than 3 billion USD could lead to write-downs if a segment's performance declines 1.
- Unionized workforcelow
Strikes or work stoppages at unionized plants could raise costs and prevent deliveries 1.
Investment thesis
What would need to be true (bull case)
- Demand for aluminum beverage cans keeps growing, and volume gains in the third quarter suggest the trend can persist 3.
- Cost pass-through and cash generation could support dividends and buybacks if the 2026 guidance holds 3.
- New capacity in Brazil, Greece, Spain and India could open long-term growth in high-potential markets.
What would break the thesis
- Volatile aluminum prices and tariffs could compress margins if costs are not fully recovered 1.
- High concentration of sales among a few customers could amplify the effect of any change in orders.
- Overcapacity and competition in standardized products could limit price increases and returns.
What to watch
- Beverage can volume trends in Brazil and AsiaQ4 2026
- Delivery against the 2026 adjusted diluted EPS guidance of 8.35-8.45 USD2026
- Start-up of the Uttar Pradesh plant in IndiaQ1 2028
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 19 Oct 2026; since then the company filed 10-Q (28 Oct 2026).
The business
The stated strategy is to maximize long-term shareholder value through profitable growth, dividends and share repurchases, with a long-term net leverage target of 2.5x adjusted EBITDA 1. Since 2019 the company has invested at least 2,000 million USD in capacity, and capital spending is estimated at 550 million USD for 2026 2. Its Twentyby30 sustainability program sets twenty measurable goals to be reached by 2030 1.
Reportable segments are Americas Beverage, European Beverage, Asia Pacific and Transit Packaging, managed regionally 1. Americas Beverage had 2025 net sales of about 5.6 billion USD and European Beverage about 2.3 billion USD 1. Large beverage companies such as Anheuser-Busch InBev and Coca-Cola are among its main customers 1.
Segments
Americas Beverage
The segment makes aluminum cans and ends, glass bottles and steel crowns in the U.S., Brazil, Canada, Colombia and Mexico. Net sales in 2025 were about 5.6 billion USD 1. A new high-speed line at the Ponta Grossa plant in Brazil is expected to start commercial production in late 2026 1.
Market context
Global demand for beverage cans has grown in recent years in North America, Brazil and Europe, supported by new products, the sustainability appeal of aluminum and population and GDP growth 2. The customer base is concentrated: the top ten customers were about 48% of 2025 consolidated net sales 1. Aluminum and steel prices are volatile, and pass-through contracts shift part of these costs to customers 12.
Trends
- Rising demand for aluminum canstailwind
Brand and consumer preference for aluminum, seen as more sustainable, could support volumes over the long term 13. Management described demand as robust, with global volumes up 6% in the third quarter of 2026 3.
- Volatile aluminum and steel costsheadwind
Aluminum and steel make up a large share of cost of products sold, and tariffs could raise material costs 1. Pass-through mechanisms partly reduce the exposure, but timing lags can squeeze operating margins 12.
- New capacity investmentsmixed
Projects in Brazil, Greece, Spain and Northern India could support volume growth in coming years if they are completed on plan 23. Added capacity can, however, bring higher fixed costs if demand does not grow enough.
- Trade and tariff uncertaintyheadwind
Tariffs on aluminum, steel and imports, and possible retaliatory measures, could affect raw material prices and profits 1. The Supreme Court ruling of February 2026 on tariffs leaves the practical effects uncertain 1.
Competitive position
Most consumer packaging is sold in highly competitive markets where price, quality, service and performance matter 1. Beverage cans are standardized, which limits differentiation and can lead to overcapacity and price pressure 1. Competition also comes from alternative packaging in glass, paper, flexible materials and plastic 1.
In transit packaging the company faces many regional and local competitors, and its products compete with paper, plastic, wood and other metal packaging 1. It differentiates itself through global scale, a broad portfolio and brand reputation 1.
- Ball CorporationBALL
Maker of metal beverage cans, named among the competitors in the annual report.
- Silgan Holdings Inc.SLGN
Maker of metal and plastic packaging, named among the direct competitors in the report.
- Ardagh Metal Packaging
European metal can producer competing in beverage markets, listed as a competitor in the report.
- Trivium Packaging
Metal packaging producer that appears among the competitors named by the company.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- ‘Crown Jewels’ Remark Fuels Parthenon Sculptures DebateGreek Reporter (GR, EN) · 04 Nov 2026 · EN
- Uzbekistan Wins the Biggest Olympiad in History. Now Sindarov Goes for the World CrownThe Diplomat (Asia geopolitics) · 03 Nov 2026 · EN
- King Charles’s Caribbean Crown Under Threat as Slavery Reckoning Fuels Republican RevoltTo Vima International (GR, EN) · 02 Nov 2026 · EN
- The Airbus Engineering Crown Jewel That Never Turned A Profit, But Became An Airline's Prized PossessionSimple Flying · 02 Nov 2026 · EN
- Golden State Valkyries defeat Atlanta Dream to capture first WNBA crownAl Jazeera — World · 01 Nov 2026 · EN
- Lee, Saudi crown prince agree to strengthen cooperation amid Mideast war in phone talksYonhap News (KR, EN) · 29 Oct 2026 · EN
- China's new export curbs draw a line around its AI crown jewelsThe Straits Times — Asia · 28 Oct 2026 · EN
- What gave this city its ‘best place to retire’ crown? You can actually afford to live there.MarketWatch — Top Stories · 27 Oct 2026 · EN
- Tesla gave up the EV crown. Now it wants to win the autonomy raceArs Technica — AI · 26 Oct 2026 · EN
- Rybakina brushes aside Fernandez to retain Ningbo crownSurge — GDELT DOC · 25 Oct 2026 · RO
- Rybakina brushes aside Fernandez to retain Ningbo crownCNA (Channel NewsAsia) · 25 Oct 2026 · EN
- Apple is set to take back the market-cap crown from Nvidia. Upcoming earnings may push it over the topCNBC — Top News · 23 Oct 2026 · EN
- What is red crown rot? Expert explains emerging soybean pathogenPhys.org · 23 Oct 2026 · EN
- Meci decisiv pentru titlul WWE Women's înainte de Crown Jewel 2026 - www.goldring.roSurge — Google News · 22 Oct 2026 · RO
- The Two Cities Fighting for Asia’s Cash CrownBloomberg Markets · 21 Oct 2026 · EN
- Crown Ether-Functionalized Covalent Organic Framework Membranes for Precise Monovalent Cation SeparationACS Nano · 20 Oct 2026 · EN
- Davidovich Fokina overcomes Jodar to claim Shanghai Masters crownCNA (Channel NewsAsia) · 18 Oct 2026 · EN
- Davidovich Fokina overcomes Jodar to claim Shanghai crownCNA (Channel NewsAsia) · 18 Oct 2026 · EN
- Chicago O'Hare Just Retook The Americas Connectivity Crown Despite Losing 300 Daily FlightsSimple Flying · 16 Oct 2026 · EN
- Saudi crown prince faces Houthi menace in one of his biggest crisesThe Japan Times · 15 Oct 2026 · EN
SEC filings
- Quarterly report28 Oct 2026
- Current report26 Oct 2026Departure or appointment of officers · Financial statements and exhibits
- Current report19 Oct 2026Results of operations · Financial statements and exhibits
- Current report04 Sept 2026Departure or appointment of officers
- Quarterly report30 Jul 2026
- Current report20 Jul 2026Results of operations · Financial statements and exhibits
- Quarterly report01 May 2026
- Current report27 Apr 2026Results of operations · Financial statements and exhibits
- Current report31 Mar 2026Departure or appointment of officers · Financial statements and exhibits
- Current report23 Mar 2026Material agreement · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Crown Holdings, Inc. · 27 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Crown Holdings, Inc. · 30 Jul 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Crown Holdings, Inc. · 19 Oct 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.