Silgan Holdings (SLGN) FY2022 results: revenue $6.4 billion, up 12.9% on the year

Silgan Holdings Inc. (SLGN) reported revenue of $6.4 billion for fiscal 2022, the year ended 31 December 2022, up 12.9% on the year before. Net income was $341 million, down 5.1%, and diluted earnings per share $3.07. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2023.

Revenue

$6.4 billion

+12.9% on the year

FY2015FY2022

Operating margin

n/a

FY2015FY2022

Net income

$341 million

-5.1% on the year

FY2015FY2022

Diluted EPS

$3.07

-5.0% on the year

FY2015FY2022

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2022 · Q2 FY2022 · Q3 FY2022 · Q4 FY2022

Income statement (profit and loss)

$ million	FY2022	FY2021	FY2020	On the year
Revenue	6,411	5,677	4,922	+12.9%
Cost of revenue	5,364	4,759	4,055	+12.7%
Gross profit	1,048	918	867	+14.1%
Gross margin	16.3%	16.2%	17.6%
Selling, general and administrative	417	378	378	+10.3%
Interest expense	126	108	104	+16.5%
Pre-tax income	474	466	407	+1.7%
Income tax	133	107	98.4	+24.3%
Effective tax rate	28.1%	23.0%	24.2%
Net income	341	359	309	-5.1%
Net margin	5.3%	6.3%	6.3%
Diluted EPS	$3.07	$3.23	$2.77	-5.0%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2022	FY2021	FY2020	On the year
Operating cash flow	748	557	603	+34.4%
Capital expenditure	216	232	224	-7.1%
Free cash flow	533	325	378	+64.1%
Free cash flow margin	8.3%	5.7%	7.7%
Cash from investing	-216	-976	-1,163
Cash from financing	-570	649	760
Depreciation and amortisation	263	250	219	+5.0%
Buybacks	45.1	8.6	42.1	+426.4%
Dividends paid	71.9	62.5	53.6	+15.1%
Dividend per share	$0.64	$0.56	$0.48	+14.3%
Diluted shares, weighted	111m	111m	111m	-0.1%
Shares outstanding at period end	110m	110m	110m	-0.3%

Balance sheet

$ million	FY2022	FY2021	FY2020	On the year
Shareholders' equity	1,718	1,563	1,253	+10.0%
Debt	3,443	3,815	3,272	-9.8%
Operating lease liabilities	173	198	174	-12.8%
Finance lease liabilities	62.9	66.0	32.6	-4.7%
Other liabilities	1,949	2,128	1,780	-8.4%
Total liabilities and equity	7,346	7,771	6,512	-5.5%
Fixed assets	1,931	1,994	1,841	-3.1%
Goodwill	1,985	2,038	1,741	-2.6%
Intangible assets	764	831	637	-8.1%
Cash and equivalents	586	631	409	-7.3%
Receivables	658	711	620	-7.5%
Inventory	769	799	678	-3.7%
Other assets	653	766	586	-14.8%
Total assets	7,346	7,771	6,512	-5.5%

10-K for the year ended 31 December 2022, filed 23 February 2023: the filing.