Crown (CCK) financial statements
Crown reported revenue of $12.4B in fiscal 2025, up 4.6% a year over 9 years.
Net income was $738M and the operating margin 12.6%, against 12.0% in 2016.
Free cash flow was $1.1B, and the company returned $120M in dividends and $505M in net buybacks.
The diluted share count fell 17% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Crown's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.3B | $8.7B | $11.2B | $9.6B | $9.4B | $11.4B | $12.9B | $12.0B | $11.8B | $12.4B |
| Cost of revenue | — | $7.0B | $9.0B | $7.6B | $7.4B | $9.0B | $10.6B | $9.5B | $9.3B | $9.6B |
| Gross profit | — | $1.7B | $2.1B | $2.0B | $2.0B | $2.4B | $2.3B | $2.5B | $2.5B | $2.7B |
| Research and development | $41M | $39M | $51M | $50M | $48M | $47M | $34M | $33M | $32M | $33M |
| Selling, general and admin | $366M | $367M | $558M | $556M | $533M | $583M | $556M | $582M | $597M | $632M |
| Operating income | $997M | $1.0B | $1.1B | $1.0B | $1.0B | $1.4B | $1.3B | $1.3B | $1.4B | $1.6B |
| Interest expense | $243M | $252M | $384M | $367M | $290M | $253M | $284M | $436M | $452M | $398M |
| Pre-tax income | $769M | $829M | $740M | $631M | $725M | -$419M | $1.1B | $795M | $743M | $1.2B |
| Income tax | $186M | $401M | $216M | $136M | $199M | -$57M | $243M | $222M | $183M | $281M |
| Net income | $496M | $323M | $439M | $510M | $579M | -$560M | $727M | $450M | $424M | $738M |
| EPS (diluted) | $3.56 | $2.38 | $3.28 | $3.78 | $4.30 | -$4.30 | $5.99 | $3.76 | $3.55 | $6.38 |
| Diluted shares | 139M | 136M | 134M | 135M | 135M | 130M | 121M | 120M | 119M | 116M |
| Gross margin | — | 19.5% | 19.0% | 20.8% | 21.6% | 20.8% | 17.8% | 20.5% | 21.5% | 22.0% |
| Operating margin | 12.0% | 11.8% | 9.8% | 10.7% | 11.2% | 12.0% | 10.3% | 10.6% | 12.0% | 12.6% |
| Net margin | 6.0% | 3.7% | 3.9% | 5.3% | 6.2% | -4.9% | 5.6% | 3.7% | 3.6% | 6.0% |
Balance sheet
Fiscal years, from Crown's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $559M | $424M | $607M | $607M | $1.2B | $531M | $550M | $1.3B | $918M | $764M |
| Receivables | $865M | $1.0B | $1.6B | $1.5B | $1.5B | $1.9B | $1.8B | $1.7B | $1.7B | $1.8B |
| Inventory | $1.2B | $1.4B | $1.7B | $1.6B | $1.3B | $1.7B | $2.0B | $1.6B | $1.4B | $1.6B |
| Total current assets | $2.8B | $3.1B | $4.1B | $4.0B | $4.9B | $4.5B | $4.7B | $4.8B | $4.2B | $4.4B |
| Property, plant and equipment | $2.8B | $3.2B | $3.7B | $3.9B | $3.7B | $4.0B | $4.5B | $5.1B | $4.9B | $5.2B |
| Goodwill | $2.8B | $3.0B | $4.4B | $3.1B | $3.1B | $3.0B | $3.0B | $3.1B | $3.0B | $3.2B |
| Total assets | $9.6B | $10.7B | $15.3B | $12.7B | $16.7B | $13.9B | $14.3B | $15.0B | $13.8B | $14.3B |
| Total current liabilities | $2.9B | $3.2B | $3.9B | $3.9B | $4.3B | $4.1B | $3.9B | $4.2B | $3.5B | $4.3B |
| Long-term debt | $4.7B | $5.2B | $8.5B | $7.8B | $8.0B | $6.1B | $6.8B | $6.7B | $6.1B | $5.4B |
| Total liabilities | $8.9B | $9.7B | $14.0B | $13.4B | $14.1B | $11.5B | $12.0B | $12.2B | $10.6B | $10.8B |
| Shareholders' equity | $366M | $601M | $937M | $1.7B | $2.2B | $1.9B | $1.8B | $2.4B | $2.8B | $3.0B |
| Net debt | $4.3B | $4.9B | $8.0B | $7.3B | $6.9B | $5.7B | $6.4B | $6.1B | $5.2B | $5.1B |
Cash flow
Fiscal years, from Crown's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$134M | -$251M | $571M | $1.2B | $1.3B | $905M | $803M | $1.5B | $1.2B | $1.5B |
| Capital spending | $473M | $498M | $462M | $432M | $587M | $816M | $839M | $793M | $403M | $413M |
| Free cash flow | -$607M | -$749M | $109M | $731M | $728M | $89M | -$36M | $660M | $789M | $1.1B |
| Stock-based compensation | $20M | $23M | $27M | $29M | $32M | $33M | $29M | $31M | $42M | $48M |
| Dividends paid | — | — | — | $0 | $0 | $105M | $106M | $115M | $119M | $120M |
| Share buybacks (net) | -$8M | -$339M | -$4M | -$7M | -$66M | -$950M | -$722M | -$12M | -$217M | -$505M |
| Net borrowing | -$566M | $12M | $3.7B | -$639M | -$130M | -$1.7B | $943M | $386M | -$1.1B | -$605M |
| Free cash flow margin | -7.3% | -8.6% | 1.0% | 7.6% | 7.8% | 0.8% | -0.3% | 5.5% | 6.7% | 9.0% |
| Dividends per share | — | — | — | — | — | $0.81 | $0.87 | $0.96 | $1.00 | $1.04 |
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Open CCK in InvestinglyQuestions
What was Crown's revenue in 2025?
$12.4B in fiscal 2025, from its 10-K filing.
How much free cash flow does Crown generate?
$1.1B in fiscal 2025 (operating cash flow minus capital spending).
From Crown's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.