At a glance
Crown Holdings Inc is worth $12.56B, about 18 times its fiscal 2025 earnings. Revenue grew 4.8% to $12.37B in fiscal 2025, with 6.0% kept as profit; over 5 years it has grown 5.7% a year. It pays a 1.13% dividend yield, raised every year for at least 4 years, and returned $2.97B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +20.5% over the past year with dividends reinvested and +3.2% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 44.8% in the 2020 crash (S&P 500: 33.7%) and 38.2% in the 2022 bear market (S&P 500: 24.5%).
The business in plain English
Crown Holdings makes metal packaging. The company was founded in 1892 and is incorporated in Pennsylvania. It makes aluminum and steel cans and ends (the lids) for beverages, food and aerosol products. It also sells transit packaging, which protects goods while they are shipped: steel and plastic strapping, industrial film, protective products such as airbags and edge protectors, and the equipment that applies them. At December 31, 2025, Crown ran 179 plants in 39 countries and employed about 23,000 people.
Beverage cans are the core. About 73% of Crown's $12.4 billion in 2025 net sales came from its global beverage can business. Its customers include Anheuser-Busch InBev, Coca-Cola, Heineken, Keurig Dr Pepper, Molson Coors and Pepsi-Cola. Crown sells mainly through its own sales staff and builds plants close to major customers. It makes money by turning metal into cans efficiently. Aluminum alone was 47% of its 2025 cost of products sold, so Crown tries to pass metal price changes on to customers.
Americas Beverage was the largest segment in 2025, with $5.6 billion, or 45% of sales, from plants in the U.S., Brazil, Canada, Colombia and Mexico. European Beverage brought in 19%, Transit Packaging 16% and Asia Pacific 9%. Other businesses made up 11%, mainly North American food cans, aerosol cans and closures. About 61% of sales came from outside the United States.
Price history
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CCK +20.5% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By product or service
| Metal beverage cans and ends | $8.54B | 69% |
| Transit Packaging | $2.03B | 16.4% |
| Metal food cans and ends | $943.0M | 7.6% |
| Other metal packaging | $433.0M | 3.5% |
| Other products | $428.0M | 3.5% |
By business segment
| Americas Beverage | $5.62B | 45.4% |
| European Beverage | $2.33B | 18.8% |
| Transit Packaging | $2.03B | 16.4% |
| Other | $1.30B | 10.5% |
| Asia Pacific | $1.10B | 8.9% |
By geography
| U.S. Plans | $4.81B | 38.9% |
| Other | $3.52B | 28.5% |
| Brazil | $1.07B | 8.7% |
| Mexico | $989.0M | 8% |
| Canada | $786.0M | 6.4% |
| Spain | $423.0M | 3.4% |
| Vietnam | $387.0M | 3.1% |
| United Kingdom | $372.0M | 3% |
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $3.71B, up 15.9% from a year earlier, and net income was $225.0M (+5.1%).
- For fiscal 2025, revenue was $12.37B (+4.8% year over year; +5.7% a year from FY2020 to FY2025) with a 6% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +5.7% good |
|---|---|
| Operating margin | 12.6% watch |
| Free cash flow margin | 9% watch |
| Return on equity (FY2025) | 24.6% good |
| Return on assets (FY2025) | 5.2% watch |
| Net cash (cash minus debt) | $-5.21B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $9.39B | $579.0M | $761.0M |
| FY2021 | $11.39B | $-560.0M | $89.0M |
| FY2022 | $12.94B | $727.0M | $-36.0M |
| FY2023 | $12.01B | $450.0M | $660.0M |
| FY2024 | $11.80B | $424.0M | $789.0M |
| FY2025 | $12.37B | $738.0M | $1.12B |
Valuation snapshot
| Market value | $12.56B |
|---|---|
| P/E ratio | 18.2 |
| Dividend yield | 1.13% |
Rank among 1514 US companies
Market value at each year end
Crown Holdings’s market value went from $7.35B at the end of 2016 to $12.56B on Oct 28, 2026, up 71%; since the end of 2025 it is up 6%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $12.56B | +5.8% |
| 2025 | $11.88B | +20.1% |
| 2024 | $9.89B | -11.0% |
| 2023 | $11.11B | +12.7% |
| 2022 | $9.86B | -30.3% |
| 2021 | $14.14B | +4.8% |
| 2020 | $13.50B | +37.4% |
| 2019 | $9.83B | +74.9% |
| 2018 | $5.62B | -25.6% |
| 2017 | $7.55B | +2.8% |
| 2016 | $7.35B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| CCK price data to Oct 28, 2026 | +14.0% | +20.5% | +14.8% | +3.2% | +8.6% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +14.0% |
| 2025 | +25.9% |
| 2024 | -9.1% |
| 2023 | +13.3% |
| 2022 | -25.0% |
| 2021 | +11.3% |
| 2020 | +38.1% |
| 2019 | +74.5% |
| 2018 | -26.1% |
| 2017 | +7.0% |
| 2016 | +3.7% |
| 2015 | -0.4% |
| 2014 | +14.2% |
| 2013 | +21.1% |
| 2012 | +9.6% |
| 2011 | +0.6% |
| 2010 | +30.5% |
| 2009 | +33.2% |
| 2008 | -25.1% |
| 2007 | +22.6% |
| 2006 | +7.1% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 14.9% over that stretch · deepest drop along the way 52.1%, back to its old high 21.7 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 44.7% over that stretch · deepest drop along the way 44.8%, back to its old high 5.4 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 24.5% over that stretch · deepest drop along the way 38.2%, not recovered by the end of the data |
Insider activity
Form 4 filings from 2025-10-30 to 2026-10-30 (25 read): 0 open-market purchases and 2 sales ($2.4M), 2 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Jun 23, 2026 | Timothy J Donahue President & CEO, Director | sell (plan) | $1.6M |
| Jul 15, 2026 | Timothy J Donahue President & CEO, Director | sell (plan) | $827K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 8.5% | Dec 31, 2025 |
| FMR LLC | 5.9% | Jun 30, 2026 |
| Vanguard Capital Management | 5.28% | Mar 31, 2026 |
| BlackRock Portfolio Management LLC | 4.6% | Sep 30, 2026 |
ETFs with the most weight in CCK
| LOPP Gabelli Love Our Planet & People ETF | 2.46% |
| PJFM PGIM Jennison Focused Mid-Cap ETF | 2.3% |
| FLOW Global X U.S. Cash Flow Kings 100 ETF | 1.08% |
| PEXL Pacer US Export Leaders ETF | 1.06% |
| FDLS Inspire Fidelis Multi Factor ETF | 0.99% |
| LSAF LeaderShares AlphaFactor US Core Equity ETF | 0.96% |
| FMAT Fidelity MSCI Materials Index ETF | 0.83% |
| IJJ iShares S&P Mid-Cap 400 Value ETF | 0.78% |
What could go wrong
- Aluminum costs and tariff uncertainty. Aluminum was 47% of 2025 cost of products sold. Not every contract passes metal costs on to customers. U.S. tariffs, and a February 2026 Supreme Court ruling against many of them, add price uncertainty.
- Reliance on a few beverage giants. The top ten customers made up about 48% of 2025 net sales, and two customers alone accounted for about 12% and 11%. Losing one, or more mergers among drinks makers, could reduce sales and profits.
- Ongoing asbestos lawsuits. Crown faces pending and future asbestos-related lawsuits. Payments to settle these claims could reduce cash flow and weaken its financial condition, and future claims are hard to predict.
- Heavy debt and floating interest rates. As of September 30, 2026, Crown owed about $5.8 billion, against $629 million in cash and investments. Some debt has floating rates that raise costs when rates climb, and loan conditions (covenants) limit flexibility.
- Overcapacity and fierce competition. Crown competes with Ball Corporation, Ardagh Metal Packaging, Can-Pack and others on price, quality and service. Too much can-making capacity, or customers switching to other containers, could cut sales and profits.
- Foreign sales and currency swings. About 61% of 2025 sales came from outside the U.S., including Brazil and Mexico. A stronger dollar shrinks foreign sales once converted, and emerging markets add political and economic risk.
Recent events
- Executive or board change
- Quarterly results released
- Executive or board change
- Quarterly results released
- Quarterly results released
- Executive or board change
- Major agreement signed
- Executive or board change
- Quarterly results released
- Other company announcement
For income and retirement investors
Crown paid no dividend in fiscal 2020. It started at $0.80 per share in 2021 and raised the dividend every year through 2025, when it reached $1.04, about 6.8% growth a year. The 2025 dividend used about 16% of earnings and 11% of free cash flow (cash left after operating costs and plant spending). The yield was a modest 1.13% as of October 28, 2026. Buybacks matter more: Crown spent about $2.4 billion repurchasing shares from 2021 to 2025, against $565 million in dividends. Its share count fell about 15.5% between November 2021 and October 2026.
The stock has fallen hard in downturns. It dropped 52% in 2008 and took about 22 months to recover. It fell 45% in the 2020 COVID crash but recovered in about five months. After losing 38% in 2022, it had not regained its March 2022 high by October 28, 2026. A single stock carries more risk than a diversified fund.
Questions investors ask
How does Crown Holdings make money?
Mostly by making aluminum beverage cans and ends (lids) and selling them to drinks companies. The global beverage can business produced about 73% of Crown's $12.4 billion in 2025 net sales, and Americas Beverage alone was about 45%. The rest comes from transit packaging, such as steel and plastic strapping, industrial film, protective packaging and the machines that apply them, plus food cans, aerosol cans and closures. Aluminum was 47% of its 2025 cost of products sold, so Crown tries to pass metal price changes on to customers.
Does Crown Holdings raise its dividend every year?
Yes, it has since the dividend began. Crown paid no dividend in fiscal 2020. It started at $0.80 per share in 2021 and raised the payout every year after: $0.88, $0.96, $1.00 and $1.04 in 2025. That works out to about 6.8% growth a year. The payout is small next to profits, about 16% of 2025 earnings and 11% of free cash flow. The yield was 1.13% as of October 28, 2026. Past raises are no promise of future ones.
Who are Crown Holdings' biggest customers?
Crown's largest beverage can customers include Anheuser-Busch InBev, Coca-Cola, Heineken, Keurig Dr Pepper, Molson Coors, Pepsi-Cola and Refresco. It also sells to independent Coca-Cola and Pepsi-Cola licensees. Sales are concentrated: the top ten customers made up about 48% of 2025 net sales, and two global beverage companies accounted for about 12% and 11%. The company lists two risks to its sales and profits here: losing a major customer, and further mergers among drinks makers.
How much debt does Crown Holdings have?
About $5.8 billion as of September 30, 2026. Against that, Crown held $629 million in cash and investments. That left net debt (debt minus cash) of about $5.2 billion, compared with shareholders' equity of about $2.9 billion. For scale, free cash flow was about $1.1 billion in 2025. Some of the debt carries floating interest rates, so interest costs rise when rates do. Covenants (conditions set by lenders) also restrict its flexibility. Crown has pension obligations and asbestos-related claims that could reduce cash flow.
How has CCK stock performed over the long term?
Unevenly. As of October 28, 2026, the stock's price-based return was 20.5% over one year, about 3.2% a year over five years and about 8.6% a year over ten years. Calendar years have swung widely: it fell 26.1% in 2018, rose 74.5% in 2019, fell 25% in 2022 and gained 25.9% in 2025. Its deepest decline in the price history was 52.1%, during the 2008 financial crisis. On the same date, the shares traded at about 18.2 times 2025 earnings per share.