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Side-by-side financial comparison of GRAPHIC PACKAGING HOLDING CO (GPK) and VIASAT INC (VSAT). 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 1.8× VIASAT INC). GRAPHIC PACKAGING HOLDING CO runs the higher net margin — 3.4% vs 2.2%, a 1.2% gap on every dollar of revenue. On growth, VIASAT INC posted the faster year-over-year revenue change (3.0% vs 0.2%). Over the past eight quarters, VIASAT INC's revenue compounded faster (0.3% CAGR vs -3.5%).
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...
Viasat, Inc. is an American communications company based in Carlsbad, California, with additional operations across the United States and worldwide. Viasat is a provider of high-speed satellite broadband services and secure networking systems covering military and commercial markets.
GPK vs VSAT — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.1B | $1.2B |
| Net Profit | $71.0M | $25.0M |
| Gross Margin | 14.1% | — |
| Operating Margin | 7.4% | 2.3% |
| Net Margin | 3.4% | 2.2% |
| Revenue YoY | 0.2% | 3.0% |
| Net Profit YoY | -48.6% | 115.8% |
| EPS (diluted) | $0.24 | $0.18 |
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 | $1.2B | ||
| Q3 25 | $2.2B | $1.1B | ||
| Q2 25 | $2.2B | $1.2B | ||
| Q1 25 | $2.1B | $1.1B | ||
| Q4 24 | $2.1B | $1.1B | ||
| Q3 24 | $2.2B | $1.1B | ||
| Q2 24 | $2.2B | $1.1B | ||
| Q1 24 | $2.3B | $1.2B |
| Q4 25 | $71.0M | $25.0M | ||
| Q3 25 | $142.0M | $-61.4M | ||
| Q2 25 | $104.0M | $-56.4M | ||
| Q1 25 | $127.0M | $-246.1M | ||
| Q4 24 | $138.0M | $-158.4M | ||
| Q3 24 | $165.0M | $-137.6M | ||
| Q2 24 | $190.0M | $-32.9M | ||
| Q1 24 | $165.0M | $-100.3M |
| 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 | 7.4% | 2.3% | ||
| Q3 25 | 10.7% | 3.1% | ||
| Q2 25 | 8.8% | 4.0% | ||
| Q1 25 | 10.5% | -13.4% | ||
| Q4 24 | 11.4% | 1.9% | ||
| Q3 24 | 12.6% | -2.2% | ||
| Q2 24 | 14.5% | 5.3% | ||
| Q1 24 | 12.4% | 0.0% |
| Q4 25 | 3.4% | 2.2% | ||
| Q3 25 | 6.5% | -5.4% | ||
| Q2 25 | 4.7% | -4.8% | ||
| Q1 25 | 6.0% | -21.5% | ||
| Q4 24 | 6.6% | -14.1% | ||
| Q3 24 | 7.5% | -12.3% | ||
| Q2 24 | 8.5% | -2.9% | ||
| Q1 24 | 7.3% | -8.7% |
| Q4 25 | $0.24 | $0.18 | ||
| Q3 25 | $0.48 | $-0.45 | ||
| Q2 25 | $0.34 | $-0.43 | ||
| Q1 25 | $0.42 | $-1.92 | ||
| Q4 24 | $0.46 | $-1.23 | ||
| Q3 24 | $0.55 | $-1.07 | ||
| Q2 24 | $0.62 | $-0.26 | ||
| Q1 24 | $0.53 | $-1.14 |
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 | $1.3B |
| Total DebtLower is stronger | $5.0B | $6.2B |
| Stockholders' EquityBook value | $3.3B | $4.6B |
| Total Assets | $11.8B | $14.9B |
| Debt / EquityLower = less leverage | 1.51× | 1.37× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $261.0M | $1.3B | ||
| Q3 25 | $120.0M | $1.2B | ||
| Q2 25 | $120.0M | $1.2B | ||
| Q1 25 | $129.0M | $1.6B | ||
| Q4 24 | $157.0M | $1.6B | ||
| Q3 24 | $126.0M | $3.5B | ||
| Q2 24 | $125.0M | $1.8B | ||
| Q1 24 | $136.0M | $1.9B |
| Q4 25 | $5.0B | $6.2B | ||
| Q3 25 | $5.5B | $6.5B | ||
| Q2 25 | $5.4B | $6.5B | ||
| Q1 25 | $5.7B | $6.5B | ||
| Q4 24 | $5.1B | $6.5B | ||
| Q3 24 | $5.4B | $6.4B | ||
| Q2 24 | $4.9B | $7.1B | ||
| Q1 24 | $4.9B | $7.1B |
| Q4 25 | $3.3B | $4.6B | ||
| Q3 25 | $3.3B | $4.5B | ||
| Q2 25 | $3.2B | $4.6B | ||
| Q1 25 | $3.2B | $4.6B | ||
| Q4 24 | $3.0B | $4.8B | ||
| Q3 24 | $3.0B | $4.9B | ||
| Q2 24 | $2.8B | $5.0B | ||
| Q1 24 | $2.9B | $5.0B |
| Q4 25 | $11.8B | $14.9B | ||
| Q3 25 | $11.9B | $14.8B | ||
| Q2 25 | $11.8B | $14.9B | ||
| Q1 25 | $11.5B | $15.4B | ||
| Q4 24 | $11.1B | $15.6B | ||
| Q3 24 | $11.2B | $17.8B | ||
| Q2 24 | $10.8B | $16.1B | ||
| Q1 24 | $11.3B | $16.3B |
| Q4 25 | 1.51× | 1.37× | ||
| Q3 25 | 1.67× | 1.44× | ||
| Q2 25 | 1.68× | 1.43× | ||
| Q1 25 | 1.80× | 1.43× | ||
| Q4 24 | 1.71× | 1.37× | ||
| Q3 24 | 1.79× | 1.30× | ||
| Q2 24 | 1.75× | 1.42× | ||
| Q1 24 | 1.73× | 1.42× |
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 | $726.9M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 7.34× | 29.11× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $521.0M | $726.9M | ||
| Q3 25 | $227.0M | $282.2M | ||
| Q2 25 | $267.0M | $258.5M | ||
| Q1 25 | $-174.0M | $298.4M | ||
| Q4 24 | $489.0M | $219.5M | ||
| Q3 24 | $187.0M | $239.2M | ||
| Q2 24 | $161.0M | $151.1M | ||
| Q1 24 | $3.0M | $232.0M |
| Q4 25 | 7.34× | 29.11× | ||
| 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% |
VSAT
| Products | $334.2M | 29% |
| Aviation Services | $303.7M | 26% |
| Government Satcom Services | $202.4M | 17% |
| Maritime Services | $114.9M | 10% |
| Information Security And Cyber Defense Products | $97.0M | 8% |
| Tactical Networking Products | $93.9M | 8% |
| Navarino Uk And Jsat Mobile | $15.5M | 1% |
| Advanced Technologies And Other Products | $6.1M | 1% |
