Silgan Holdings (SLGN) FY2024 results: revenue $5.9 billion, down 2.2% on the year

Silgan Holdings Inc. (SLGN) reported revenue of $5.9 billion for fiscal 2024, the year ended 31 December 2024, down 2.2% on the year before. Net income was $276 million, down 15.2%, and diluted earnings per share $2.58. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2025.

Revenue

$5.9 billion

-2.2% on the year

FY2017FY2024

Operating margin

n/a

FY2017FY2024

Net income

$276 million

-15.2% on the year

FY2017FY2024

Diluted EPS

$2.58

-13.4% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	5,855	5,988	6,411	-2.2%
Cost of revenue	4,843	4,996	5,364	-3.1%
Gross profit	1,012	993	1,048	+1.9%
Gross margin	17.3%	16.6%	16.3%
Selling, general and administrative	438	384	417	+14.1%
Interest expense	166	173	126	-4.0%
Pre-tax income	348	422	474	-17.6%
Income tax	72.0	96.2	133	-25.1%
Effective tax rate	20.7%	22.8%	28.1%
Net income	276	326	341	-15.2%
Net margin	4.7%	5.4%	5.3%
Diluted EPS	$2.58	$2.98	$3.07	-13.4%

$ 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	FY2024	FY2023	FY2022	On the year
Operating cash flow	722	483	748	+49.6%
Capital expenditure	263	227	216	+15.9%
Free cash flow	459	256	533	+79.5%
Free cash flow margin	7.8%	4.3%	8.3%
Cash from investing	-1,176	-224	-216
Cash from financing	663	-211	-570
Depreciation and amortisation	276	263	263	+4.8%
Share-based compensation	15.5	15.6	n/a	-0.3%
Buybacks	9.3	184	45.1	-94.9%
Dividends paid	82.1	78.9	71.9	+4.0%
Dividend per share	$0.76	$0.72	$0.64	+5.6%
Diluted shares, weighted	107m	109m	111m	-1.9%
Shares outstanding at period end	107m	106m	110m	+0.3%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	1,990	1,889	1,718	+5.3%
Debt	4,150	3,440	3,443	+20.7%
Operating lease liabilities	172	188	173	-8.7%
Finance lease liabilities	37.2	35.7	62.9	+4.2%
Other liabilities	2,236	2,058	1,949	+8.6%
Total liabilities and equity	8,585	7,611	7,346	+12.8%
Fixed assets	2,283	1,962	1,931	+16.4%
Goodwill	2,316	2,018	1,985	+14.8%
Intangible assets	869	721	764	+20.6%
Cash and equivalents	823	643	586	+28.0%
Receivables	594	600	658	-0.9%
Inventory	928	941	769	-1.4%
Other assets	771	727	653	+6.0%
Total assets	8,585	7,611	7,346	+12.8%

10-K for the year ended 31 December 2024, filed 27 February 2025: the filing.