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Greif, Inc., together with its subsidiaries, produces and sells industrial packaging products and services worldwide. It operates in four segments: Customized Polymer Solutions; Durable Metal Solutions; Sustainable Fiber Solutions; and Integrated Solutions. The Customized Polymer Solutions segment produces and sells polymer-based packaging products, such as plastic drums, rigid intermediate bulk containers, and small plastics for chemicals, food and beverage, agricultural, pharmaceutical, and mineral products industries. The Durable Metal Solutions segment offers metal-based packaging products, including various steel drums for the chemicals, petroleum, agriculture, and paints and coatings industries. The Sustainable Fiber Solutions segment provides fiber-based packaging products comprising fibre drums, uncoated recycled board, coated recycled board, tubes and cores, and specialty partitions made from uncoated recycled board and coated recycled board to packaging, automotive, construction, food and beverage, and building products industries. The Integrated Solutions segment offers complimentary packaging products, such as paints, linings, and closure systems for industrial packaging products and related services. The company manufactures and sells rigid industrial packaging products, such as steel, fibre and plastic drums, rigid intermediate bulk containers, jerrycans and other small plastics, closure systems for industrial packaging products, water bottles, and remanufactured and reconditioned industrial containers, as well as offers container life cycle management, logistics, warehousing, and other packaging services. It also purchases and sells recycled fiber; and produces and sells adhesives. The company was formerly known as Greif Bros. Corporation and changed its name to Greif, Inc. in 2001. Greif, Inc. was founded in 1877 and is headquartered in Delaware, Ohio.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2024
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2024 | $4.4B | $589M | $269M | $164M | 12.9% | 4.3% | -25.2% |
| 2023 | $4.2B | $643M | $359M | $430M | 18.4% | -34.2% | -4.6% |
| 2022 | $6.3B | $804M | $377M | $475M | 21.4% | 14.3% | -3.6% |
| 2021 | $5.6B | $806M | $391M | $249M | 25.8% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Total Revenue | 5,556.10 | 6,349.50 | 4,175.30 | 4,354.90 |
| Operating Revenue | 5,556.10 | 6,349.50 | 4,175.30 | 4,354.90 |
| Cost Of Revenue | 4,463.10 | 5,064.10 | 3,246.70 | 3,455.80 |
| Gross Profit | 1,093 | 1,285.40 | 928.60 | 899.10 |
| Operating Expense | 565.90 | 581 | 510.30 | 589.90 |
| Selling General And Administration | 565.90 | 581 | 510.30 | 589.90 |
| Total Expenses | 5,029 | 5,645.10 | 3,757 | 4,045.70 |
| Operating Income | 527.10 | 704.40 | 418.30 | 309.20 |
| Total Operating Income As Reported | 585.20 | 621.20 | 426.80 | 337.80 |
| EBITDA | 805.70 | 803.50 | 642.70 | 589 |
| Normalized EBITDA | 747.60 | 912.10 | 634.20 | 560.40 |
| EBIT | 571.30 | 586.90 | 412.10 | 327.70 |
| Interest Expense | 92.70 | 61.20 | 15.70 | 46 |
| Net Interest Income | -92.70 | -61.20 | -15.70 | -46 |
| Other Non Operating Income Expenses | -13.90 | -8.90 | -14.70 | -10.10 |
| Other Income Expense | 44.20 | -117.50 | -6.20 | 18.50 |
| Interest Expense Non Operating | 92.70 | 61.20 | 15.70 | 46 |
| Net Non Operating Interest Income Expense | -92.70 | -61.20 | -15.70 | -46 |
| Pretax Income | 478.60 | 525.70 | 396.40 | 281.70 |
| Tax Provision | 69.60 | 137.10 | 98.10 | 22.20 |
| Tax Rate For Calcs | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | 8.44 | -28.33 | 2.10 | 2.25 |
| Net Income Continuous Operations | 413.20 | 394 | 300.50 | 262.60 |
| Net Income From Continuing And Discontinued Operation | 390.70 | 376.70 | 359.20 | 268.80 |
| Net Income From Continuing Operation Net Minority Interest | 390.70 | 376.70 | 280.60 | 235.90 |
| Net Income | 390.70 | 376.70 | 359.20 | 268.80 |
| Net Income Common Stockholders | 390.70 | 376.70 | 359.20 | 268.80 |
| Net Income Including Noncontrolling Interests | 413.20 | 394 | 379.10 | 295.50 |
| Normalized Income | 341.04 | 456.97 | 274.20 | 209.55 |
| Diluted NI Availto Com Stockholders | 390.70 | 376.70 | 359.20 | 268.80 |
| Basic Average Shares | 59.50 | 59.30 | 57.85 | 57.75 |
| Diluted Average Shares | 59.70 | 59.60 | 58.25 | 57.95 |
| Reconciled Depreciation | 234.40 | 216.60 | 230.60 | 261.30 |
| Reconciled Cost Of Revenue | 4,463.10 | 5,064.10 | 3,246.70 | 3,455.80 |
| Total Unusual Items | 58.10 | -108.60 | 8.50 | 28.60 |
| Total Unusual Items Excluding Goodwill | 58.10 | -108.60 | 8.50 | 28.60 |
| Minority Interests | -22.50 | -17.30 | -19.90 | -26.70 |
| Net Income Discontinuous Operations | - | - | 78.60 | 32.90 |
| Earnings From Equity Interest Net Of Tax | 4.20 | 5.40 | 2.20 | 3.10 |
| Special Income Charges | 58.10 | -108.60 | 8.50 | 28.60 |
| Gain On Sale Of Business | -0.20 | 1.40 | 64 | 46 |
| Other Special Charges | - | 25.40 | - | - |
| Write Off | 8.90 | 71 | 20.30 | 2.60 |
| Impairment Of Capital Assets | 8.90 | 71 | - | - |
| Restructuring And Mergern Acquisition | 32.20 | 21.70 | 37.70 | 23.90 |
| General And Administrative Expense | 565.90 | 581 | - | - |
| Other Gand A | 565.90 | 581 | - | - |
| Gain On Sale Of Ppe | 99.40 | 8.10 | 2.50 | 9.10 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Greif, Inc.this co. | GEF | $3.6B | 13.40↑ premium | 1.73 | 12.9% | 10.88 |
| Ermenegildo Zegna N.V. | ZGN | $4.0B | 40.60 | 3.88 | 9.6% | 10.82 |
| Polaris Inc. | PII | $3.9B | -8.41 | 4.73 | -56.2% | -47.42 |
| Hilton Grand Vacations Inc. | HGV | $3.8B | 47.51 | 2.99 | 6.3% | 14.44 |
| Abercrombie & Fitch Co. | ANF | $3.5B | 6.88 |
| 2.49 |
| 36.1% |
| 4.44 |
| Madison Square Garden Entertainment Corp. | MSGE | $3.4B | 90.07 | -253.49 | -281.4% | 26.05 |
| KB Home | KBH | $3.3B | 7.60 | 0.84 | 11.0% | 8.43 |
| Visteon Corporation | VC | $3.3B | 16.18 | 2.07 | 12.8% | 6.33 |
| Peloton Interactive, Inc. | PTON | $2.7B | -22.47 | -6.46 | 28.7% | 33.23 |
| Peer Median | - | 11.89 | 2.28 | 10.3% | 9.62 | |