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Side-by-side financial comparison of Grocery Outlet Holding Corp. (GO) and GRAPHIC PACKAGING HOLDING CO (GPK). Click either name above to swap in a different company.
GRAPHIC PACKAGING HOLDING CO is the larger business by last-quarter revenue ($2.1B vs $1.2B, roughly 1.7× Grocery Outlet Holding Corp.). GRAPHIC PACKAGING HOLDING CO runs the higher net margin — 3.4% vs -18.5%, a 21.9% gap on every dollar of revenue. On growth, GRAPHIC PACKAGING HOLDING CO posted the faster year-over-year revenue change (0.2% vs -72.2%). Over the past eight quarters, Grocery Outlet Holding Corp.'s revenue compounded faster (8.3% CAGR vs -3.5%).
Grocery Outlet Holding Corp. is an American discount closeout retailer consisting exclusively of supermarket locations that offer discounted, overstocked, and closeout products from name-brand and private-label suppliers. The company has stores in California, Oregon, Washington, Idaho, Nevada, Maryland, Pennsylvania, New Jersey, Ohio, and Delaware.
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...
GO vs GPK — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $2.1B |
| Net Profit | $-224.9M | $71.0M |
| Gross Margin | 29.7% | 14.1% |
| Operating Margin | — | 7.4% |
| Net Margin | -18.5% | 3.4% |
| Revenue YoY | -72.2% | 0.2% |
| Net Profit YoY | -669.9% | -48.6% |
| EPS (diluted) | $-2.22 | $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.
| Q1 26 | $1.2B | — | ||
| Q4 25 | — | $2.1B | ||
| Q3 25 | $1.2B | $2.2B | ||
| Q2 25 | $1.2B | $2.2B | ||
| Q1 25 | $1.1B | $2.1B | ||
| Q4 24 | $1.1B | $2.1B | ||
| Q3 24 | $1.1B | $2.2B | ||
| Q2 24 | $1.1B | $2.2B |
| Q1 26 | $-224.9M | — | ||
| Q4 25 | — | $71.0M | ||
| Q3 25 | $11.6M | $142.0M | ||
| Q2 25 | $5.0M | $104.0M | ||
| Q1 25 | $-23.3M | $127.0M | ||
| Q4 24 | $2.3M | $138.0M | ||
| Q3 24 | $24.2M | $165.0M | ||
| Q2 24 | $14.0M | $190.0M |
| Q1 26 | 29.7% | — | ||
| Q4 25 | — | 14.1% | ||
| Q3 25 | 30.4% | 19.6% | ||
| Q2 25 | 30.6% | 18.7% | ||
| Q1 25 | 30.4% | 20.6% | ||
| Q4 24 | 29.5% | 21.4% | ||
| Q3 24 | 31.1% | 22.3% | ||
| Q2 24 | 30.9% | 21.2% |
| Q1 26 | — | — | ||
| Q4 25 | — | 7.4% | ||
| Q3 25 | 2.0% | 10.7% | ||
| Q2 25 | 1.1% | 8.8% | ||
| Q1 25 | -2.0% | 10.5% | ||
| Q4 24 | 1.0% | 11.4% | ||
| Q3 24 | 3.6% | 12.6% | ||
| Q2 24 | 2.3% | 14.5% |
| Q1 26 | -18.5% | — | ||
| Q4 25 | — | 3.4% | ||
| Q3 25 | 1.0% | 6.5% | ||
| Q2 25 | 0.4% | 4.7% | ||
| Q1 25 | -2.1% | 6.0% | ||
| Q4 24 | 0.2% | 6.6% | ||
| Q3 24 | 2.2% | 7.5% | ||
| Q2 24 | 1.2% | 8.5% |
| Q1 26 | $-2.22 | — | ||
| Q4 25 | — | $0.24 | ||
| Q3 25 | $0.12 | $0.48 | ||
| Q2 25 | $0.05 | $0.34 | ||
| Q1 25 | $-0.24 | $0.42 | ||
| Q4 24 | $0.03 | $0.46 | ||
| Q3 24 | $0.24 | $0.55 | ||
| Q2 24 | $0.14 | $0.62 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $69.6M | $261.0M |
| Total DebtLower is stronger | $15.0M | $5.0B |
| Stockholders' EquityBook value | $983.7M | $3.3B |
| Total Assets | $3.1B | $11.8B |
| Debt / EquityLower = less leverage | 0.02× | 1.51× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $69.6M | — | ||
| Q4 25 | — | $261.0M | ||
| Q3 25 | $52.1M | $120.0M | ||
| Q2 25 | $55.2M | $120.0M | ||
| Q1 25 | $50.9M | $129.0M | ||
| Q4 24 | $62.8M | $157.0M | ||
| Q3 24 | $68.7M | $126.0M | ||
| Q2 24 | $67.1M | $125.0M |
| Q1 26 | $15.0M | — | ||
| Q4 25 | — | $5.0B | ||
| Q3 25 | $500.3M | $5.5B | ||
| Q2 25 | $473.9M | $5.4B | ||
| Q1 25 | $475.7M | $5.7B | ||
| Q4 24 | $477.5M | $5.1B | ||
| Q3 24 | $429.3M | $5.4B | ||
| Q2 24 | $379.2M | $4.9B |
| Q1 26 | $983.7M | — | ||
| Q4 25 | — | $3.3B | ||
| Q3 25 | $1.2B | $3.3B | ||
| Q2 25 | $1.2B | $3.2B | ||
| Q1 25 | $1.2B | $3.2B | ||
| Q4 24 | $1.2B | $3.0B | ||
| Q3 24 | $1.2B | $3.0B | ||
| Q2 24 | $1.2B | $2.8B |
| Q1 26 | $3.1B | — | ||
| Q4 25 | — | $11.8B | ||
| Q3 25 | $3.4B | $11.9B | ||
| Q2 25 | $3.3B | $11.8B | ||
| Q1 25 | $3.3B | $11.5B | ||
| Q4 24 | $3.2B | $11.1B | ||
| Q3 24 | $3.1B | $11.2B | ||
| Q2 24 | $3.1B | $10.8B |
| Q1 26 | 0.02× | — | ||
| Q4 25 | — | 1.51× | ||
| Q3 25 | 0.42× | 1.67× | ||
| Q2 25 | 0.40× | 1.68× | ||
| Q1 25 | 0.40× | 1.80× | ||
| Q4 24 | 0.40× | 1.71× | ||
| Q3 24 | 0.35× | 1.79× | ||
| Q2 24 | 0.31× | 1.75× |
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 | $222.1M | $521.0M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 7.34× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $222.1M | — | ||
| Q4 25 | — | $521.0M | ||
| Q3 25 | $17.3M | $227.0M | ||
| Q2 25 | $73.6M | $267.0M | ||
| Q1 25 | $58.9M | $-174.0M | ||
| Q4 24 | $39.5M | $489.0M | ||
| Q3 24 | $23.0M | $187.0M | ||
| Q2 24 | $41.6M | $161.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $-21.6M | — | ||
| Q2 25 | $14.4M | — | ||
| Q1 25 | $-1.5M | — | ||
| Q4 24 | $-19.6M | — | ||
| Q3 24 | $-19.3M | — | ||
| Q2 24 | $2.7M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | -1.8% | — | ||
| Q2 25 | 1.2% | — | ||
| Q1 25 | -0.1% | — | ||
| Q4 24 | -1.8% | — | ||
| Q3 24 | -1.7% | — | ||
| Q2 24 | 0.2% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 3.3% | — | ||
| Q2 25 | 5.0% | — | ||
| Q1 25 | 5.4% | — | ||
| Q4 24 | 5.4% | — | ||
| Q3 24 | 3.8% | — | ||
| Q2 24 | 3.4% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 7.34× | ||
| Q3 25 | 1.49× | 1.60× | ||
| Q2 25 | 14.84× | 2.57× | ||
| Q1 25 | — | -1.37× | ||
| Q4 24 | 17.09× | 3.54× | ||
| Q3 24 | 0.95× | 1.13× | ||
| Q2 24 | 2.97× | 0.85× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GO
Segment breakdown not available.
GPK
| Americas Paperboard Packaging | $1.4B | 68% |
| Other | $667.0M | 32% |
