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Side-by-side financial comparison of FirstEnergy (FE) and GRAPHIC PACKAGING HOLDING CO (GPK). Click either name above to swap in a different company.
FirstEnergy is the larger business by last-quarter revenue ($3.8B vs $2.1B, roughly 1.8× GRAPHIC PACKAGING HOLDING CO). GRAPHIC PACKAGING HOLDING CO runs the higher net margin — 3.4% vs -1.3%, a 4.7% gap on every dollar of revenue. On growth, FirstEnergy posted the faster year-over-year revenue change (19.6% vs 0.2%). Over the past eight quarters, FirstEnergy's revenue compounded faster (7.5% CAGR vs -3.5%).
FirstEnergy Corp. is an electric utility headquartered in Akron, Ohio. It was established when Ohio Edison merged with Centerior Energy in 1997.
Graphic Packaging International is a Fortune 500 corporation based in Atlanta, Georgia, United States. It designs and manufactures packaging solutions for commercial products. GPI manufactures paperboard and folding cartons for a wide range of popular consumer goods, particularly beverages and packaged food. The company operates paperboard mills in Kalamazoo, Michigan; Macon, Georgia; Middletown, Ohio; Prosperity, South Carolina; Texarkana, Texas; and West Monroe, Louisiana, that use recycled...
FE vs GPK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.8B | $2.1B |
| Net Profit | $-49.0M | $71.0M |
| Gross Margin | — | 14.1% |
| Operating Margin | -0.6% | 7.4% |
| Net Margin | -1.3% | 3.4% |
| Revenue YoY | 19.6% | 0.2% |
| Net Profit YoY | -118.8% | -48.6% |
| EPS (diluted) | $-0.08 | $0.24 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $3.8B | $2.1B | ||
| Q3 25 | $4.1B | $2.2B | ||
| Q2 25 | $3.4B | $2.2B | ||
| Q1 25 | $3.8B | $2.1B | ||
| Q4 24 | $3.2B | $2.1B | ||
| Q3 24 | $3.7B | $2.2B | ||
| Q2 24 | $3.3B | $2.2B | ||
| Q1 24 | $3.3B | $2.3B |
| Q4 25 | $-49.0M | $71.0M | ||
| Q3 25 | $441.0M | $142.0M | ||
| Q2 25 | $268.0M | $104.0M | ||
| Q1 25 | $360.0M | $127.0M | ||
| Q4 24 | $261.0M | $138.0M | ||
| Q3 24 | $419.0M | $165.0M | ||
| Q2 24 | $45.0M | $190.0M | ||
| Q1 24 | $253.0M | $165.0M |
| Q4 25 | — | 14.1% | ||
| Q3 25 | — | 19.6% | ||
| Q2 25 | — | 18.7% | ||
| Q1 25 | — | 20.6% | ||
| Q4 24 | — | 21.4% | ||
| Q3 24 | — | 22.3% | ||
| Q2 24 | — | 21.2% | ||
| Q1 24 | — | 23.0% |
| Q4 25 | -0.6% | 7.4% | ||
| Q3 25 | 20.0% | 10.7% | ||
| Q2 25 | 19.1% | 8.8% | ||
| Q1 25 | 20.0% | 10.5% | ||
| Q4 24 | 19.3% | 11.4% | ||
| Q3 24 | 19.5% | 12.6% | ||
| Q2 24 | 12.9% | 14.5% | ||
| Q1 24 | 18.6% | 12.4% |
| Q4 25 | -1.3% | 3.4% | ||
| Q3 25 | 10.6% | 6.5% | ||
| Q2 25 | 7.9% | 4.7% | ||
| Q1 25 | 9.6% | 6.0% | ||
| Q4 24 | 8.2% | 6.6% | ||
| Q3 24 | 11.2% | 7.5% | ||
| Q2 24 | 1.4% | 8.5% | ||
| Q1 24 | 7.7% | 7.3% |
| Q4 25 | $-0.08 | $0.24 | ||
| Q3 25 | $0.76 | $0.48 | ||
| Q2 25 | $0.46 | $0.34 | ||
| Q1 25 | $0.62 | $0.42 | ||
| Q4 24 | $0.45 | $0.46 | ||
| Q3 24 | $0.73 | $0.55 | ||
| Q2 24 | $0.08 | $0.62 | ||
| Q1 24 | $0.44 | $0.53 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $57.0M | $261.0M |
| Total DebtLower is stronger | $25.5B | $5.0B |
| Stockholders' EquityBook value | $12.5B | $3.3B |
| Total Assets | $55.9B | $11.8B |
| Debt / EquityLower = less leverage | 2.04× | 1.51× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $57.0M | $261.0M | ||
| Q3 25 | $1.4B | $120.0M | ||
| Q2 25 | $569.0M | $120.0M | ||
| Q1 25 | $132.0M | $129.0M | ||
| Q4 24 | $111.0M | $157.0M | ||
| Q3 24 | $439.0M | $126.0M | ||
| Q2 24 | $60.0M | $125.0M | ||
| Q1 24 | $888.0M | $136.0M |
| Q4 25 | $25.5B | $5.0B | ||
| Q3 25 | $25.5B | $5.5B | ||
| Q2 25 | $23.7B | $5.4B | ||
| Q1 25 | $21.2B | $5.7B | ||
| Q4 24 | $22.5B | $5.1B | ||
| Q3 24 | $21.6B | $5.4B | ||
| Q2 24 | $20.8B | $4.9B | ||
| Q1 24 | $21.7B | $4.9B |
| Q4 25 | $12.5B | $3.3B | ||
| Q3 25 | $12.8B | $3.3B | ||
| Q2 25 | $12.9B | $3.2B | ||
| Q1 25 | $12.6B | $3.2B | ||
| Q4 24 | $12.5B | $3.0B | ||
| Q3 24 | $12.4B | $3.0B | ||
| Q2 24 | $12.5B | $2.8B | ||
| Q1 24 | $12.4B | $2.9B |
| Q4 25 | $55.9B | $11.8B | ||
| Q3 25 | $55.9B | $11.9B | ||
| Q2 25 | $54.2B | $11.8B | ||
| Q1 25 | $52.8B | $11.5B | ||
| Q4 24 | $52.0B | $11.1B | ||
| Q3 24 | $50.8B | $11.2B | ||
| Q2 24 | $51.0B | $10.8B | ||
| Q1 24 | $51.3B | $11.3B |
| Q4 25 | 2.04× | 1.51× | ||
| Q3 25 | 1.99× | 1.67× | ||
| Q2 25 | 1.85× | 1.68× | ||
| Q1 25 | 1.69× | 1.80× | ||
| Q4 24 | 1.81× | 1.71× | ||
| Q3 24 | 1.74× | 1.79× | ||
| Q2 24 | 1.67× | 1.75× | ||
| Q1 24 | 1.75× | 1.73× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.1B | $521.0M |
| Free Cash FlowOCF − Capex | $-30.0M | — |
| FCF MarginFCF / Revenue | -0.8% | — |
| Capex IntensityCapex / Revenue | 30.7% | — |
| Cash ConversionOCF / Net Profit | — | 7.34× |
| TTM Free Cash FlowTrailing 4 quarters | $-1.0B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $521.0M | ||
| Q3 25 | $845.0M | $227.0M | ||
| Q2 25 | $1.1B | $267.0M | ||
| Q1 25 | $637.0M | $-174.0M | ||
| Q4 24 | $1.0B | $489.0M | ||
| Q3 24 | $775.0M | $187.0M | ||
| Q2 24 | $1.1B | $161.0M | ||
| Q1 24 | $-40.0M | $3.0M |
| Q4 25 | $-30.0M | — | ||
| Q3 25 | $-471.0M | — | ||
| Q2 25 | $-136.0M | — | ||
| Q1 25 | $-368.0M | — | ||
| Q4 24 | $-250.0M | — | ||
| Q3 24 | $-229.0M | — | ||
| Q2 24 | $170.0M | — | ||
| Q1 24 | $-830.0M | — |
| Q4 25 | -0.8% | — | ||
| Q3 25 | -11.4% | — | ||
| Q2 25 | -4.0% | — | ||
| Q1 25 | -9.8% | — | ||
| Q4 24 | -7.9% | — | ||
| Q3 24 | -6.1% | — | ||
| Q2 24 | 5.2% | — | ||
| Q1 24 | -25.3% | — |
| Q4 25 | 30.7% | — | ||
| Q3 25 | 31.7% | — | ||
| Q2 25 | 36.0% | — | ||
| Q1 25 | 26.7% | — | ||
| Q4 24 | 40.7% | — | ||
| Q3 24 | 26.9% | — | ||
| Q2 24 | 28.7% | — | ||
| Q1 24 | 24.0% | — |
| Q4 25 | — | 7.34× | ||
| Q3 25 | 1.92× | 1.60× | ||
| Q2 25 | 4.04× | 2.57× | ||
| Q1 25 | 1.77× | -1.37× | ||
| Q4 24 | 4.00× | 3.54× | ||
| Q3 24 | 1.85× | 1.13× | ||
| Q2 24 | 24.71× | 0.85× | ||
| Q1 24 | -0.16× | 0.02× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FE
| Integrated Segment | $1.4B | 37% |
| Other | $1.4B | 36% |
| Stand Alone Transmission Segment | $466.0M | 12% |
| Industrial Customers | $167.0M | 4% |
| Mid Atlantic Interstate Transmission LLC | $118.0M | 3% |
| Transmission | $105.0M | 3% |
| Transmission Segment | $68.0M | 2% |
| Tr AIL | $63.0M | 2% |
| Internal Customers | $10.0M | 0% |
| Wholesale Sales | $6.0M | 0% |
GPK
| Americas Paperboard Packaging | $1.4B | 68% |
| Other | $667.0M | 32% |
