Crown Holdings, Inc. (CCK) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+161.2%

$319.67

vs $122.39 price

Levered DCF

$245.71

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

2.44

Grey zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	16.06×	23.29×	24.49×	13.66×	-31.42×	31.51×	25.1×	12.67×
P/B	3.96×	3.58×	4.57×	5.4×	7.54×	6.09×	5.67×	5.94×
P/S	0.96×	0.84×	0.92×	0.77×	1.27×	1.42×	1.02×	0.5×
EV / EBITDA	8.5×	8.05×	9.52×	9.48×	68.8×	14.17×	11.68×	8.58×
Gross margin	18.3%	21.5%	20.5%	17.8%	20.8%	21.6%	20.8%	19.0%
Operating margin	13.2%	12.0%	10.6%	10.3%	12.0%	11.2%	10.7%	9.8%
Net margin	5.9%	3.6%	3.7%	5.6%	-4.9%	6.2%	5.3%	3.9%
Current ratio	1.03×	1.22×	1.15×	1.18×	1.09×	1.15×	1.03×	1.04×
Debt / equity	2.06×	2.33×	3.2×	3.9×	3.38×	3.81×	4.77×	9.28×
Interest coverage	4.11×	3.14×	2.91×	4.7×	5.39×	3.61×	2.8×	2.85×
Dividend yield	1.0%	1.2%	1.0%	1.1%	0.7%	0.0%	0.0%	0.0%
Payout ratio	16.3%	28.1%	25.6%	14.6%	-18.8%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	24.5%	15.4%	18.7%	39.3%	-29.3%	26.3%	29.8%	46.9%
Return on invested capital	11.7%	10.1%	7.9%	9.8%	11.8%	6.0%	6.8%	6.7%
Return on assets	5.1%	3.1%	3.0%	5.1%	-4.0%	3.5%	3.3%	2.9%
Free cash flow yield	9.3%	8.0%	6.0%	-0.4%	0.6%	5.4%	7.5%	2.0%
Earnings yield	6.2%	4.3%	4.1%	7.3%	-3.9%	4.3%	5.3%	7.9%
Enterprise value	$17.2B	$15.3B	$17.3B	$16.6B	$20.3B	$20.5B	$17.2B	$13.6B
Net debt / EBITDA	2.62×	2.85×	3.46×	3.76×	19.91×	4.93×	5.1×	5.07×
Cash conversion cycle (days)	15	13	20	26	14	16	10	11