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On March 31, 2026 Silgan paid a declared quarterly cash dividend of $0.21 per share after its Board raised the payout. On April 29, 2026 the company issued first-quarter 2026 results showing adjusted EPS of $0.78 versus consensus $0.74 and revenue of $1.56 billion, and updated full-year guidance. Media reports on March 20, 2026 indicated Silgan signalled interest in Germany’s Gerresheimer, citing unnamed sources.
Technical Analysis
ADX at 19.95 signals no established trend; short-term directional conviction remains low, which amplifies sensitivity to single-event catalysts versus sustained directional moves.
DI+ sits at 17.11 and is decreasing, a bearish signal; DI- at 27.50 shows a peak-and-reversal, which registers as bullish under directional rules and suggests fading downside pressure from sellers relative to prior strength.
MACD at -0.72 with a MACD signal at -0.60 shows MACD below its signal line (no bullish crossover). The MACD trend reads as a dip-and-reversal, indicating emerging bullish momentum but not yet confirmed by a cross above the signal line.
MRO (Momentum/Regression Oscillator) at -21.16 registers negative and in a dip-and-reversal, indicating the market price sits below the model target and that upside toward that target holds potential if momentum continues to firm.
RSI at 44.3 with a dip-and-reversal suggests momentum recovered from a shallow oversold move; the indicator sits below 50, so strength remains tentative rather than dominant.
Price relationships show short-term weakness: the 12-day EMA (38.43) and 20-day average (38.84) lie above the close ($37.99), while the 50-day (39.73) and 200-day (42.26) lie further overhead. Price trades slightly above the 1x lower Bollinger band (lower 1σ = $37.47), implying proximity to the short-term trading range lower bound and scope for mean-reversion if momentum confirms.
Ichimoku levels place price beneath Tenkan (38.90) and Kijun (39.43) and below the cloud (Senkou A 41.07 / Senkou B 43.44), which acts as additional resistance for a sustained upside move. Volatility measures (42-day and 52-week volatility ~2%) remain moderate; average volume figures show current daily volume slightly below several moving averages, reducing the immediacy of conviction around any single move.
Fundamental Analysis
Revenue grew 60.45% year-over-year while quarter-to-quarter revenue slipped -1.23%, leaving a mixed top-line profile: sizable YoY expansion with recent sequential softness. Total revenue stood at $1,561,258,000 for the period ending 2026-03-31.
EBIT reached $125,578,000, producing an EBIT margin of 8.04%. That margin sits below the industry peer mean (~9.02%) and median (~9.33%) but above the industry’s low (≈2.96%). Margin improved QoQ by 16.80% but fell YoY by -9.64%, indicating recent operational improvement from the prior quarter alongside multi-period pressure versus the year-ago base.
Net income totaled $63,039,000 and reported EPS of $0.78 beat the $0.74 estimate, yielding a 5.41% EPS surprise. Forward EPS of $1.02 implies a forward P/E of ~42.1; the trailing P/E registers ~53.47, while the industry peer mean P/E about ~68.62 places the trailing multiple below peer mean despite the valuation label below.
Cash metrics remain the principal constraint: operating cash flow at -$799,573,000 and free cash flow at -$882,017,000 produced a free cash flow yield of -20.01%, materially weaker than the industry peer mean (approx -3.91%) and median. Cash conversion suffers; cash conversion cycle days at 56.34 sit near the industry high end and well above the peer mean. The company held $435,429,000 in cash against net debt of $4,225,018,000, leaving leverage substantial relative to market capitalization ($4.41B market cap).
Leverage ratios accentuate funding risk: debt-to-equity at 2.01 exceeds the industry peer mean (~1.55) and approaches the reported peer high; debt-to-EBITDA at ~22.1 marks pronounced leverage versus operating earnings. Interest coverage about 3.03 remains near but below the industry peer mean (~3.82), reflecting tighter headroom on interest obligations.
Other capital metrics: return on equity ~2.72% and return on assets ~0.67% remain modest; asset turnover at 0.167 sits below the peer mean (~0.194). Price-to-book at 1.90 falls below the peer mean (~2.88), indicating book support that contrasts with stress in cash generation. WMDST values the stock as over-valued given the combination of negative cash flow, elevated leverage, and limited return on invested capital despite earnings beats and YoY revenue expansion.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-04-29 |
| NEXT REPORT DATE: | 2026-07-29 |
| CASH FLOW | Begin Period Cash Flow | $ 1.1 B |
| Operating Cash Flow | $ -799.57 M | |
| Capital Expenditures | $ -82.44 M | |
| Change In Working Capital | $ -964.94 M | |
| Dividends Paid | $ -22.85 M | |
| Cash Flow Delta | $ -645.23 M | |
| End Period Cash Flow | $ 435.4 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 1.6 B | |
| Forward Revenue | $ 668.0 M | |
| COSTS | ||
| Cost Of Revenue | $ 1.3 B | |
| Depreciation | $ 84.9 M | |
| Depreciation and Amortization | $ 84.9 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 1.4 B | |
| PROFITABILITY | ||
| Gross Profit | $ 265.8 M | |
| EBITDA | $ 210.5 M | |
| EBIT | $ 125.6 M | |
| Operating Income | $ 135.6 M | |
| Interest Income | — | |
| Interest Expense | $ 41.4 M | |
| Net Interest Income | $ -41.43 M | |
| Income Before Tax | $ 84.1 M | |
| Tax Provision | $ 22.3 M | |
| Tax Rate | 26.5 % | |
| Net Income | $ 63.0 M | |
| Net Income From Continuing Operations | $ 63.0 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.74 | |
| EPS Actual | $ 0.78 | |
| EPS Difference | $ 0.04 | |
| EPS Surprise | 5.405 % | |
| Forward EPS | $ 1.02 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 9.3 B | |
| Intangible Assets | $ 3.3 B | |
| Net Tangible Assets | $ -1.02 B | |
| Total Current Assets | $ 3.0 B | |
| Cash and Short-Term Investments | $ 435.4 M | |
| Cash | $ 435.4 M | |
| Net Receivables | $ 1.2 B | |
| Inventory | $ 1.1 B | |
| Long-Term Investments | $ 656.5 M | |
| LIABILITIES | ||
| Accounts Payable | $ 817.0 M | |
| Short-Term Debt | $ 988.3 M | |
| Total Current Liabilities | $ 2.4 B | |
| Net Debt | $ 4.2 B | |
| Total Debt | $ 4.7 B | |
| Total Liabilities | $ 7.0 B | |
| EQUITY | ||
| Total Equity | $ 2.3 B | |
| Retained Earnings | $ 3.6 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 21.96 | |
| Shares Outstanding | 105.680 M | |
| Revenue Per-Share | $ 14.77 | |
| VALUATION | Market Capitalization | $ 4.4 B |
| Enterprise Value | $ 8.6 B | |
| Enterprise Multiple | 41.008 | |
| Enterprise Multiple QoQ | -2.772 % | |
| Enterprise Multiple YoY | -11.485 % | |
| Enterprise Multiple IPRWA | high: 54.307 median: 47.054 mean: 43.358 SLGN: 41.008 low: 35.912 |
|
| EV/R | 5.529 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 4.017 | |
| Asset To Liability | 1.331 | |
| Debt To Capital | 0.668 | |
| Debt To Assets | 0.5 | |
| Debt To Assets QoQ | 8.077 % | |
| Debt To Assets YoY | -5.297 % | |
| Debt To Assets IPRWA | SLGN: 0.5 high: 0.452 mean: 0.401 median: 0.395 low: 0.216 |
|
| Debt To Equity | 2.008 | |
| Debt To Equity QoQ | 5.076 % | |
| Debt To Equity YoY | -9.605 % | |
| Debt To Equity IPRWA | high: 2.217 SLGN: 2.008 mean: 1.55 median: 1.394 low: 0.411 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.899 | |
| Price To Book QoQ | -2.132 % | |
| Price To Book YoY | -27.384 % | |
| Price To Book IPRWA | high: 4.016 median: 2.896 mean: 2.883 SLGN: 1.899 low: 1.329 |
|
| Price To Earnings (P/E) | 53.47 | |
| Price To Earnings QoQ | -14.416 % | |
| Price To Earnings YoY | -13.911 % | |
| Price To Earnings IPRWA | high: 79.116 mean: 68.618 median: 67.197 SLGN: 53.47 low: 43.834 |
|
| PE/G Ratio | 3.257 | |
| Price To Sales (P/S) | 2.823 | |
| Price To Sales QoQ | -6.066 % | |
| Price To Sales YoY | -24.016 % | |
| Price To Sales IPRWA | high: 4.5 mean: 3.927 median: 3.645 low: 3.102 SLGN: 2.823 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 42.102 | |
| Forward PE/G | 2.564 | |
| Forward P/S | 6.598 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 3.831 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.167 | |
| Asset Turnover Ratio QoQ | 7.308 % | |
| Asset Turnover Ratio YoY | -1.319 % | |
| Asset Turnover Ratio IPRWA | high: 0.228 mean: 0.194 median: 0.183 SLGN: 0.167 low: 0.151 |
|
| Receivables Turnover | 1.786 | |
| Receivables Turnover Ratio QoQ | 27.237 % | |
| Receivables Turnover Ratio YoY | -2.137 % | |
| Receivables Turnover Ratio IPRWA | high: 3.075 mean: 2.442 median: 2.343 SLGN: 1.786 low: 1.639 |
|
| Inventory Turnover | 1.173 | |
| Inventory Turnover Ratio QoQ | 1.411 % | |
| Inventory Turnover Ratio YoY | -2.764 % | |
| Inventory Turnover Ratio IPRWA | high: 2.396 mean: 1.529 median: 1.396 SLGN: 1.173 low: 1.139 |
|
| Days Sales Outstanding (DSO) | 51.085 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 56.336 | |
| Cash Conversion Cycle Days QoQ | -13.294 % | |
| Cash Conversion Cycle Days YoY | 1.977 % | |
| Cash Conversion Cycle Days IPRWA | SLGN: 56.336 high: 55.748 mean: -2.677 median: -7.339 low: -29.152 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 2.564 | |
| CapEx To Revenue | -0.053 | |
| CapEx To Depreciation | -0.971 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 6.0 B | |
| Net Invested Capital | $ 7.0 B | |
| Invested Capital | $ 7.0 B | |
| Net Tangible Assets | $ -1.02 B | |
| Net Working Capital | $ 609.0 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.185 | |
| Current Ratio | 1.258 | |
| Current Ratio QoQ | 3.117 % | |
| Current Ratio YoY | 10.708 % | |
| Current Ratio IPRWA | high: 1.275 SLGN: 1.258 median: 1.119 mean: 1.113 low: 0.964 |
|
| Quick Ratio | 0.78 | |
| Quick Ratio QoQ | -0.023 % | |
| Quick Ratio YoY | 15.52 % | |
| Quick Ratio IPRWA | high: 0.998 SLGN: 0.78 median: 0.719 mean: 0.716 low: 0.536 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 22.139 | |
| Cost Of Debt | 0.812 % | |
| Interest Coverage Ratio | 3.031 | |
| Interest Coverage Ratio QoQ | 43.102 % | |
| Interest Coverage Ratio YoY | -0.331 % | |
| Interest Coverage Ratio IPRWA | high: 4.308 median: 3.835 mean: 3.816 SLGN: 3.031 low: 2.718 |
|
| Operating Cash Flow Ratio | -0.384 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 77.632 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 2.759 | |
| Dividend Payout Ratio | 0.362 | |
| Dividend Rate | $ 0.22 | |
| Dividend Yield | 0.005 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -0.796 % | |
| Revenue Growth | 6.309 % | |
| Revenue Growth QoQ | -123.463 % | |
| Revenue Growth YoY | 60.453 % | |
| Revenue Growth IPRWA | high: 7.841 % median: 7.649 % SLGN: 6.309 % mean: 4.784 % low: -5.177 % |
|
| Earnings Growth | 16.418 % | |
| Earnings Growth QoQ | -144.624 % | |
| Earnings Growth YoY | -565.231 % | |
| Earnings Growth IPRWA | high: 129.167 % SLGN: 16.418 % mean: 5.634 % median: -10.345 % low: -15.385 % |
|
| MARGINS | ||
| Gross Margin | 17.023 % | |
| Gross Margin QoQ | -1.058 % | |
| Gross Margin YoY | -7.669 % | |
| Gross Margin IPRWA | high: 23.024 % median: 19.761 % mean: 19.424 % low: 17.93 % SLGN: 17.023 % |
|
| EBIT Margin | 8.043 % | |
| EBIT Margin QoQ | 16.802 % | |
| EBIT Margin YoY | -9.639 % | |
| EBIT Margin IPRWA | high: 11.415 % median: 9.326 % mean: 9.019 % SLGN: 8.043 % low: 2.964 % |
|
| Return On Sales (ROS) | 8.688 % | |
| Return On Sales QoQ | -5.318 % | |
| Return On Sales YoY | -2.393 % | |
| Return On Sales IPRWA | high: 11.261 % mean: 9.407 % median: 9.353 % SLGN: 8.688 % low: 5.155 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -882.02 M | |
| Free Cash Flow Yield | -20.011 % | |
| Free Cash Flow Yield QoQ | -172.247 % | |
| Free Cash Flow Yield YoY | 42.295 % | |
| Free Cash Flow Yield IPRWA | high: 1.529 % mean: -3.913 % median: -5.785 % low: -8.268 % SLGN: -20.011 % |
|
| Free Cash Growth | -172.148 % | |
| Free Cash Growth QoQ | -146.681 % | |
| Free Cash Growth YoY | -8.719 % | |
| Free Cash Growth IPRWA | high: -155.294 % SLGN: -172.148 % mean: -186.664 % median: -190.106 % low: -233.429 % |
|
| Free Cash To Net Income | -13.992 | |
| Cash Flow Margin | -57.952 % | |
| Cash Flow To Earnings | -14.353 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.02 | |
| Return On Assets (ROA) | 0.674 % | |
| Return On Assets QoQ | 249.223 % | |
| Return On Assets YoY | -13.921 % | |
| Return On Assets IPRWA | high: 1.225 % median: 1.043 % mean: 0.953 % SLGN: 0.674 % low: 0.227 % |
|
| Return On Capital Employed (ROCE) | 1.803 % | |
| Return On Equity (ROE) | 0.027 | |
| Return On Equity QoQ | 239.5 % | |
| Return On Equity YoY | -16.738 % | |
| Return On Equity IPRWA | high: 0.06 mean: 0.038 median: 0.037 SLGN: 0.027 low: 0.004 |
|
| DuPont ROE | 2.744 % | |
| Return On Invested Capital (ROIC) | 1.322 % | |
| Return On Invested Capital QoQ | 9.528 % | |
| Return On Invested Capital YoY | -10.856 % | |
| Return On Invested Capital IPRWA | high: 3.023 % mean: 2.032 % median: 1.904 % SLGN: 1.322 % low: 0.587 % |
|