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Side-by-side financial comparison of Lineage, Inc. (LINE) and SEALED AIR CORP (SEE). Click either name above to swap in a different company.
SEALED AIR CORP is the larger business by last-quarter revenue ($1.4B vs $1.4B, roughly 1.0× Lineage, Inc.). SEALED AIR CORP runs the higher net margin — 3.1% vs -7.3%, a 10.4% gap on every dollar of revenue. On growth, Lineage, Inc. posted the faster year-over-year revenue change (3.1% vs 2.6%). SEALED AIR CORP produced more free cash flow last quarter ($257.7M vs $35.0M).
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.
Sealed Air Corporation is a global provider of innovative packaging and protective solutions. Its core offerings include cushioning materials, food safety and preservation packaging, and sustainable waste-reducing packaging systems, serving retail, e-commerce, food and beverage, and industrial manufacturing markets worldwide.
LINE vs SEE — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $1.4B |
| Net Profit | $-100.0M | $43.8M |
| Gross Margin | 32.3% | 28.6% |
| Operating Margin | 2.5% | 11.4% |
| Net Margin | -7.3% | 3.1% |
| Revenue YoY | 3.1% | 2.6% |
| Net Profit YoY | 79.4% | 700.0% |
| EPS (diluted) | $-0.44 | $0.30 |
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 | — | $1.4B | ||
| Q3 25 | $1.4B | $1.3B | ||
| Q2 25 | $1.4B | $1.3B | ||
| Q1 25 | $1.3B | $1.3B | ||
| Q4 24 | $1.3B | $1.4B | ||
| Q3 24 | $1.3B | $1.3B | ||
| Q2 24 | $1.3B | $1.3B | ||
| Q1 24 | $1.3B | $1.3B |
| Q4 25 | — | $43.8M | ||
| Q3 25 | $-100.0M | $255.1M | ||
| Q2 25 | $-6.0M | $93.1M | ||
| Q1 25 | $0 | $113.5M | ||
| Q4 24 | $-71.0M | $-7.3M | ||
| Q3 24 | $-485.0M | $91.7M | ||
| Q2 24 | $-68.0M | $98.3M | ||
| Q1 24 | $-40.0M | $82.0M |
| Q4 25 | — | 28.6% | ||
| Q3 25 | 32.3% | 29.8% | ||
| Q2 25 | 31.9% | 30.7% | ||
| Q1 25 | 32.2% | 30.9% | ||
| Q4 24 | 32.3% | 30.0% | ||
| Q3 24 | 32.8% | 30.1% | ||
| Q2 24 | 33.4% | 31.2% | ||
| Q1 24 | 33.4% | 30.3% |
| Q4 25 | — | 11.4% | ||
| Q3 25 | 2.5% | 13.8% | ||
| Q2 25 | 1.7% | 15.0% | ||
| Q1 25 | 4.3% | 14.5% | ||
| Q4 24 | -1.6% | 11.7% | ||
| Q3 24 | -38.6% | 13.9% | ||
| Q2 24 | 5.5% | 15.4% | ||
| Q1 24 | 7.6% | 14.0% |
| Q4 25 | — | 3.1% | ||
| Q3 25 | -7.3% | 19.0% | ||
| Q2 25 | -0.4% | 7.0% | ||
| Q1 25 | — | 9.0% | ||
| Q4 24 | -5.3% | -0.5% | ||
| Q3 24 | -36.3% | 6.9% | ||
| Q2 24 | -5.1% | 7.4% | ||
| Q1 24 | -3.0% | 6.2% |
| Q4 25 | — | $0.30 | ||
| Q3 25 | $-0.44 | $1.73 | ||
| Q2 25 | $-0.03 | $0.63 | ||
| Q1 25 | $0.01 | $0.77 | ||
| Q4 24 | $-0.52 | $-0.05 | ||
| Q3 24 | $-2.44 | $0.63 | ||
| Q2 24 | $-0.46 | $0.67 | ||
| Q1 24 | $-0.28 | $0.56 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $344.0M |
| Total DebtLower is stronger | — | $3.3B |
| Stockholders' EquityBook value | $8.4B | $1.2B |
| Total Assets | $19.2B | $7.0B |
| Debt / EquityLower = less leverage | — | 2.65× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $344.0M | ||
| Q3 25 | — | $282.5M | ||
| Q2 25 | — | $354.4M | ||
| Q1 25 | — | $335.2M | ||
| Q4 24 | $173.0M | $371.8M | ||
| Q3 24 | $409.0M | $386.0M | ||
| Q2 24 | $73.0M | $388.6M | ||
| Q1 24 | — | $352.8M |
| Q4 25 | — | $3.3B | ||
| Q3 25 | — | $4.0B | ||
| Q2 25 | — | $4.0B | ||
| Q1 25 | — | $4.2B | ||
| Q4 24 | — | $4.2B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.4B | ||
| Q1 24 | — | $4.5B |
| Q4 25 | — | $1.2B | ||
| Q3 25 | $8.4B | $1.2B | ||
| Q2 25 | $8.6B | $953.1M | ||
| Q1 25 | $8.6B | $797.9M | ||
| Q4 24 | $8.6B | $624.5M | ||
| Q3 24 | $9.0B | $771.2M | ||
| Q2 24 | $4.9B | $650.1M | ||
| Q1 24 | $5.6B | $598.3M |
| Q4 25 | — | $7.0B | ||
| Q3 25 | $19.2B | $7.1B | ||
| Q2 25 | $19.4B | $7.2B | ||
| Q1 25 | $18.8B | $7.0B | ||
| Q4 24 | $18.7B | $7.0B | ||
| Q3 24 | $19.3B | $7.3B | ||
| Q2 24 | $18.8B | $7.3B | ||
| Q1 24 | — | $7.2B |
| Q4 25 | — | 2.65× | ||
| Q3 25 | — | 3.34× | ||
| Q2 25 | — | 4.18× | ||
| Q1 25 | — | 5.26× | ||
| Q4 24 | — | 6.72× | ||
| Q3 24 | — | 5.62× | ||
| Q2 24 | — | 6.81× | ||
| Q1 24 | — | 7.49× |
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 | $230.0M | $293.6M |
| Free Cash FlowOCF − Capex | $35.0M | $257.7M |
| FCF MarginFCF / Revenue | 2.5% | 18.5% |
| Capex IntensityCapex / Revenue | 14.2% | 2.6% |
| Cash ConversionOCF / Net Profit | — | 6.70× |
| TTM Free Cash FlowTrailing 4 quarters | — | $458.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $293.6M | ||
| Q3 25 | $230.0M | $165.9M | ||
| Q2 25 | $258.0M | $136.6M | ||
| Q1 25 | $139.0M | $31.9M | ||
| Q4 24 | — | $244.2M | ||
| Q3 24 | $186.0M | $170.5M | ||
| Q2 24 | $155.0M | $188.2M | ||
| Q1 24 | $105.0M | $125.1M |
| Q4 25 | — | $257.7M | ||
| Q3 25 | $35.0M | $119.6M | ||
| Q2 25 | $95.0M | $93.2M | ||
| Q1 25 | $-12.0M | $-12.0M | ||
| Q4 24 | — | $185.1M | ||
| Q3 24 | $33.0M | $115.2M | ||
| Q2 24 | $-31.0M | $129.5M | ||
| Q1 24 | $-42.0M | $78.0M |
| Q4 25 | — | 18.5% | ||
| Q3 25 | 2.5% | 8.9% | ||
| Q2 25 | 7.0% | 7.0% | ||
| Q1 25 | -0.9% | -0.9% | ||
| Q4 24 | — | 13.6% | ||
| Q3 24 | 2.5% | 8.6% | ||
| Q2 24 | -2.3% | 9.7% | ||
| Q1 24 | -3.2% | 5.9% |
| Q4 25 | — | 2.6% | ||
| Q3 25 | 14.2% | 3.4% | ||
| Q2 25 | 12.1% | 3.3% | ||
| Q1 25 | 11.7% | 3.5% | ||
| Q4 24 | — | 4.4% | ||
| Q3 24 | 11.5% | 4.1% | ||
| Q2 24 | 13.9% | 4.4% | ||
| Q1 24 | 11.1% | 3.6% |
| Q4 25 | — | 6.70× | ||
| Q3 25 | — | 0.65× | ||
| Q2 25 | — | 1.47× | ||
| Q1 25 | — | 0.28× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.86× | ||
| Q2 24 | — | 1.91× | ||
| Q1 24 | — | 1.53× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
SEE
| Protective Segment | $1.1B | 78% |
| Other | $292.0M | 21% |
| Pension Plans Defined Benefit | $7.9M | 1% |
