vs
Side-by-side financial comparison of GRAPHIC PACKAGING HOLDING CO (GPK) and Lineage, Inc. (LINE). 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 $1.4B, roughly 1.5× Lineage, Inc.). GRAPHIC PACKAGING HOLDING CO runs the higher net margin — 3.4% vs -7.3%, a 10.7% gap on every dollar of revenue. On growth, Lineage, Inc. posted the faster year-over-year revenue change (3.1% vs 0.2%).
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...
Norwegian Cruise Line Holdings (NCLH) is a holding company that is based in the United States and domiciled in Bermuda. It operates three cruise lines as wholly owned subsidiaries: Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises. With its subsidiaries combined, it is the third-largest cruise operator in the world. It is a publicly traded company listed on the New York Stock Exchange.
GPK vs LINE — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.1B | $1.4B |
| Net Profit | $71.0M | $-100.0M |
| Gross Margin | 14.1% | 32.3% |
| Operating Margin | 7.4% | 2.5% |
| Net Margin | 3.4% | -7.3% |
| Revenue YoY | 0.2% | 3.1% |
| Net Profit YoY | -48.6% | 79.4% |
| EPS (diluted) | $0.24 | $-0.44 |
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 | $2.1B | — | ||
| Q3 25 | $2.2B | $1.4B | ||
| Q2 25 | $2.2B | $1.4B | ||
| Q1 25 | $2.1B | $1.3B | ||
| Q4 24 | $2.1B | $1.3B | ||
| Q3 24 | $2.2B | $1.3B | ||
| Q2 24 | $2.2B | $1.3B | ||
| Q1 24 | $2.3B | $1.3B |
| Q4 25 | $71.0M | — | ||
| Q3 25 | $142.0M | $-100.0M | ||
| Q2 25 | $104.0M | $-6.0M | ||
| Q1 25 | $127.0M | $0 | ||
| Q4 24 | $138.0M | $-71.0M | ||
| Q3 24 | $165.0M | $-485.0M | ||
| Q2 24 | $190.0M | $-68.0M | ||
| Q1 24 | $165.0M | $-40.0M |
| Q4 25 | 14.1% | — | ||
| Q3 25 | 19.6% | 32.3% | ||
| Q2 25 | 18.7% | 31.9% | ||
| Q1 25 | 20.6% | 32.2% | ||
| Q4 24 | 21.4% | 32.3% | ||
| Q3 24 | 22.3% | 32.8% | ||
| Q2 24 | 21.2% | 33.4% | ||
| Q1 24 | 23.0% | 33.4% |
| Q4 25 | 7.4% | — | ||
| Q3 25 | 10.7% | 2.5% | ||
| Q2 25 | 8.8% | 1.7% | ||
| Q1 25 | 10.5% | 4.3% | ||
| Q4 24 | 11.4% | -1.6% | ||
| Q3 24 | 12.6% | -38.6% | ||
| Q2 24 | 14.5% | 5.5% | ||
| Q1 24 | 12.4% | 7.6% |
| Q4 25 | 3.4% | — | ||
| Q3 25 | 6.5% | -7.3% | ||
| Q2 25 | 4.7% | -0.4% | ||
| Q1 25 | 6.0% | — | ||
| Q4 24 | 6.6% | -5.3% | ||
| Q3 24 | 7.5% | -36.3% | ||
| Q2 24 | 8.5% | -5.1% | ||
| Q1 24 | 7.3% | -3.0% |
| Q4 25 | $0.24 | — | ||
| Q3 25 | $0.48 | $-0.44 | ||
| Q2 25 | $0.34 | $-0.03 | ||
| Q1 25 | $0.42 | $0.01 | ||
| Q4 24 | $0.46 | $-0.52 | ||
| Q3 24 | $0.55 | $-2.44 | ||
| Q2 24 | $0.62 | $-0.46 | ||
| Q1 24 | $0.53 | $-0.28 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $261.0M | — |
| Total DebtLower is stronger | $5.0B | — |
| Stockholders' EquityBook value | $3.3B | $8.4B |
| Total Assets | $11.8B | $19.2B |
| Debt / EquityLower = less leverage | 1.51× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $261.0M | — | ||
| Q3 25 | $120.0M | — | ||
| Q2 25 | $120.0M | — | ||
| Q1 25 | $129.0M | — | ||
| Q4 24 | $157.0M | $173.0M | ||
| Q3 24 | $126.0M | $409.0M | ||
| Q2 24 | $125.0M | $73.0M | ||
| Q1 24 | $136.0M | — |
| Q4 25 | $5.0B | — | ||
| Q3 25 | $5.5B | — | ||
| Q2 25 | $5.4B | — | ||
| Q1 25 | $5.7B | — | ||
| Q4 24 | $5.1B | — | ||
| Q3 24 | $5.4B | — | ||
| Q2 24 | $4.9B | — | ||
| Q1 24 | $4.9B | — |
| Q4 25 | $3.3B | — | ||
| Q3 25 | $3.3B | $8.4B | ||
| Q2 25 | $3.2B | $8.6B | ||
| Q1 25 | $3.2B | $8.6B | ||
| Q4 24 | $3.0B | $8.6B | ||
| Q3 24 | $3.0B | $9.0B | ||
| Q2 24 | $2.8B | $4.9B | ||
| Q1 24 | $2.9B | $5.6B |
| Q4 25 | $11.8B | — | ||
| Q3 25 | $11.9B | $19.2B | ||
| Q2 25 | $11.8B | $19.4B | ||
| Q1 25 | $11.5B | $18.8B | ||
| Q4 24 | $11.1B | $18.7B | ||
| Q3 24 | $11.2B | $19.3B | ||
| Q2 24 | $10.8B | $18.8B | ||
| Q1 24 | $11.3B | — |
| Q4 25 | 1.51× | — | ||
| Q3 25 | 1.67× | — | ||
| Q2 25 | 1.68× | — | ||
| Q1 25 | 1.80× | — | ||
| Q4 24 | 1.71× | — | ||
| Q3 24 | 1.79× | — | ||
| Q2 24 | 1.75× | — | ||
| Q1 24 | 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 | $521.0M | $230.0M |
| Free Cash FlowOCF − Capex | — | $35.0M |
| FCF MarginFCF / Revenue | — | 2.5% |
| Capex IntensityCapex / Revenue | — | 14.2% |
| Cash ConversionOCF / Net Profit | 7.34× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $521.0M | — | ||
| Q3 25 | $227.0M | $230.0M | ||
| Q2 25 | $267.0M | $258.0M | ||
| Q1 25 | $-174.0M | $139.0M | ||
| Q4 24 | $489.0M | — | ||
| Q3 24 | $187.0M | $186.0M | ||
| Q2 24 | $161.0M | $155.0M | ||
| Q1 24 | $3.0M | $105.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | $35.0M | ||
| Q2 25 | — | $95.0M | ||
| Q1 25 | — | $-12.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $33.0M | ||
| Q2 24 | — | $-31.0M | ||
| Q1 24 | — | $-42.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | 2.5% | ||
| Q2 25 | — | 7.0% | ||
| Q1 25 | — | -0.9% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.5% | ||
| Q2 24 | — | -2.3% | ||
| Q1 24 | — | -3.2% |
| Q4 25 | — | — | ||
| Q3 25 | — | 14.2% | ||
| Q2 25 | — | 12.1% | ||
| Q1 25 | — | 11.7% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 11.5% | ||
| Q2 24 | — | 13.9% | ||
| Q1 24 | — | 11.1% |
| Q4 25 | 7.34× | — | ||
| Q3 25 | 1.60× | — | ||
| Q2 25 | 2.57× | — | ||
| Q1 25 | -1.37× | — | ||
| Q4 24 | 3.54× | — | ||
| Q3 24 | 1.13× | — | ||
| Q2 24 | 0.85× | — | ||
| Q1 24 | 0.02× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GPK
| Americas Paperboard Packaging | $1.4B | 68% |
| Other | $667.0M | 32% |
LINE
| Warehousing Operations | $883.0M | 64% |
| Other | $308.0M | 22% |
| Warehouse Lease | $60.0M | 4% |
| Food Sales | $52.0M | 4% |
| E Commerce And Other | $46.0M | 3% |
| Railcar Lease | $23.0M | 2% |
| Service Other | $5.0M | 0% |
