Greif Financials

GEF

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE September

This page shows Greif (GEF) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI GEF FY2025 2026-04-29

FY2025 looks like a balance-sheet reset in which asset-sale cash repaired leverage while core operating earnings weakened.

The striking FY2025 gap between net income of $840M and operating cash flow of just $58.6M says reported profit was dominated by items that did not turn into cash from the normal sales cycle. That reading fits the investing inflow of $1.68B and long-term debt ending at $914.8M, making the year look more like portfolio reshaping than a clean operating rebound.

Margin pressure sat below gross profit: gross margin held at 22.2% in FY2025, but operating margin fell to 4.3%. That usually means overhead, restructuring, or other operating costs absorbed much of the product-level economics rather than a collapse in manufacturing spread.

The company now has a lighter leverage load, with long-term debt at $914.8M versus $2.42B in FY2024. But liquidity still looks merely adequate, with cash of $256.7M and a current ratio of 1.3x rather than a cash-heavy cushion.

Financial Health Signals

Financial Profile 40/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Greif's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Greif has an operating margin of 4.3%, meaning the company retains $4 of operating profit per $100 of revenue. This results in a moderate score of 37/100, indicating healthy but not exceptional operating efficiency. This is down from 7.8% the prior year.

Growth

Greif's revenue declined 9.7% year-over-year, from $4.4B to $3.9B. This contraction results in a growth score of 28/100.

Leverage

Greif carries a low D/E ratio of 0.31, meaning only $0.31 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 96/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Greif's current ratio of 1.27 is below the typical benchmark, resulting in a score of 21/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Returns

Greif's ROE of 28.8% shows moderate profitability relative to equity, earning a score of 60/100. This is up from 13.2% the prior year.

Altman Z-Score Grey Zone

2.37

Greif scores 2.37, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.

Piotroski F-Score Neutral

6/9

Greif passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality

0.07x

For every $1 of reported earnings, Greif generates $0.07 in operating cash flow ($58.6M OCF vs $840.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

$3.9B

YoY-9.7%

5Y CAGR-2.7%

10Y CAGR+0.8%

Greif generated $3.9B in revenue in fiscal year 2025. This represents a decrease of 9.7% from the prior year.

EBITDA

$404.5M

YoY-32.5%

5Y CAGR-5.9%

10Y CAGR+2.1%

Greif's EBITDA was $404.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 32.5% from the prior year.

Net Income

$840.0M

YoY+212.5%

5Y CAGR+50.5%

10Y CAGR+27.9%

Greif reported $840.0M in net income in fiscal year 2025. This represents an increase of 212.5% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$256.7M

YoY+27.6%

5Y CAGR+20.4%

10Y CAGR+14.7%

Greif held $256.7M in cash against $914.8M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

22.2%

YoY+1.5pp

5Y CAGR+1.9pp

10Y CAGR+3.6pp

Greif's gross margin was 22.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.5 percentage points from the prior year.

Operating Margin

4.3%

YoY-3.5pp

5Y CAGR-2.5pp

10Y CAGR-1.1pp

Greif's operating margin was 4.3% in fiscal year 2025, reflecting core business profitability. This is down 3.5 percentage points from the prior year.

Net Margin

21.4%

YoY+15.2pp

5Y CAGR+18.9pp

10Y CAGR+19.4pp

Greif's net profit margin was 21.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 15.2 percentage points from the prior year.

Return on Equity

28.8%

YoY+15.7pp

5Y CAGR+19.8pp

10Y CAGR+21.2pp

Greif's ROE was 28.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 15.7 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

Greif spent $0 on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures

N/A

GEF Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$3.9B-9.7%	$4.4B+4.3%	$4.2B-34.2%	$6.3B+14.3%	$5.6B+23.1%	$4.5B
Cost of Revenue	$3.1B-11.4%	$3.5B+6.4%	$3.2B-35.9%	$5.1B+13.5%	$4.5B+24.0%	$3.6B
Gross Profit	$871.5M-3.1%	$899.1M-3.2%	$928.6M-27.8%	$1.3B+17.6%	$1.1B+19.5%	$914.7M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$601.9M+2.0%	$589.9M+15.6%	$510.3M-12.2%	$581.0M+2.7%	$565.9M+9.7%	$516.0M
Operating Income	$167.6M-50.4%	$337.8M-20.9%	$426.8M-31.3%	$621.2M+6.2%	$585.2M+91.9%	$304.9M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$64.8M+191.9%	$22.2M-77.4%	$98.1M-28.4%	$137.1M+97.0%	$69.6M+10.0%	$63.3M
Net Income	$840.0M+212.5%	$268.8M-25.2%	$359.2M-4.6%	$376.7M-3.6%	$390.7M+259.1%	$108.8M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$1.1B+7.8%	$994.8M-12.3%	$1.1B+5.2%	$1.1B-2.6%	$1.1B-5.0%	$1.2B+4.2%	$1.1B+15.7%	$965.5M
Cost of Revenue	$825.8M+4.2%	$792.2M-9.7%	$877.4M+5.7%	$829.9M-5.6%	$879.1M-4.4%	$920.0M+5.2%	$874.9M+11.9%	$781.8M
Gross Profit	$247.0M+21.9%	$202.6M-21.3%	$257.3M+3.5%	$248.5M+9.0%	$227.9M-6.9%	$244.9M+0.9%	$242.6M+32.1%	$183.7M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$191.7M+31.2%	$146.1M-6.9%	$157.0M-1.8%	$159.9M+9.3%	$146.3M-4.3%	$152.8M-2.0%	$155.9M+15.6%	$134.9M
Operating Income	$35.4M-86.2%	$256.6M+251.0%	$73.1M+20.4%	$60.7M-21.5%	$77.3M-43.5%	$136.7M+66.9%	$81.9M+95.5%	$41.9M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$5.9M-90.0%	$58.9M+399.2%	$11.8M-41.0%	$20.0M+222.6%	$6.2M-81.5%	$33.5M+57.3%	$21.3M+154.9%	-$38.8M
Net Income	$12.6M-92.8%	$174.6M+172.8%	$64.0M+60.4%	$39.9M-43.1%	$70.1M-19.5%	$87.1M+96.2%	$44.4M-33.9%	$67.2M
EPS (Diluted)	$0.22	N/A	N/A	N/A	N/A	N/A	N/A	N/A

GEF Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$5.8B-12.4%	$6.6B+10.3%	$6.0B+4.9%	$5.7B-1.3%	$5.8B+3.6%	$5.6B
Current Assets	$1.4B-10.4%	$1.6B+15.0%	$1.4B-5.6%	$1.5B-13.6%	$1.7B+26.6%	$1.3B
Cash & Equivalents	$256.7M+27.6%	$201.1M+12.2%	$179.3M+11.4%	$161.0M+34.5%	$119.7M+18.0%	$101.4M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$655.3M-7.2%	$706.0M+10.5%	$639.2M-5.2%	$674.2M-17.4%	$816.1M+20.1%	$679.7M
Goodwill	$1.7B-12.6%	$1.9B+13.9%	$1.7B+10.6%	$1.5B+2.7%	$1.5B-2.0%	$1.5B
Total Liabilities	$2.9B-37.3%	$4.5B+14.3%	$4.0B+3.4%	$3.8B-10.0%	$4.3B-2.0%	$4.4B
Current Liabilities	$1.1B-7.2%	$1.2B+38.0%	$882.7M+0.2%	$880.5M-31.2%	$1.3B+29.3%	$990.5M
Long-Term Debt	$914.8M-62.2%	$2.4B+10.8%	$2.2B+1.9%	$2.1B+0.2%	$2.1B-9.3%	$2.4B
Total Equity	$2.9B+42.9%	$2.0B+2.4%	$2.0B+8.0%	$1.8B+23.6%	$1.5B+23.9%	$1.2B
Retained Earnings	$3.2B+29.8%	$2.5B+3.5%	$2.4B+10.2%	$2.2B+19.0%	$1.8B+17.6%	$1.5B

Metric	Q2'26	Q1'26	Q4'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$5.6B+1.7%	$5.5B-18.3%	$6.7B-0.3%	$6.8B+1.6%	$6.6B-2.7%	$6.8B+0.1%	$6.8B+14.4%	$6.0B
Current Assets	$1.6B+8.6%	$1.4B-27.8%	$2.0B+13.7%	$1.8B+13.2%	$1.5B-9.6%	$1.7B+6.1%	$1.6B+16.2%	$1.4B
Cash & Equivalents	$286.1M+17.5%	$243.5M-14.6%	$285.2M+12.9%	$252.7M+27.8%	$197.7M+1.8%	$194.2M-0.9%	$196.0M+9.3%	$179.3M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$707.1M+17.4%	$602.1M-12.1%	$684.9M-14.8%	$803.7M+25.8%	$638.7M-18.7%	$785.7M+1.8%	$772.0M+20.8%	$639.2M
Goodwill	$1.7B-0.5%	$1.7B+0.3%	$1.7B-14.7%	$2.0B+20.0%	$1.7B-15.1%	$2.0B-0.9%	$2.0B+15.5%	$1.7B
Total Liabilities	$2.7B+3.6%	$2.6B-43.6%	$4.5B-1.7%	$4.6B+1.2%	$4.6B-4.5%	$4.8B-0.9%	$4.8B+21.2%	$4.0B
Current Liabilities	$1.2B+4.9%	$1.2B-17.2%	$1.4B+1.9%	$1.4B+36.6%	$1.0B+0.4%	$1.0B-1.6%	$1.0B+16.3%	$882.7M
Long-Term Debt	$701.2M+7.0%	$655.1M-70.5%	$2.2B-3.1%	$2.3B-12.8%	$2.6B-6.0%	$2.8B+0.4%	$2.8B+27.3%	$2.2B
Total Equity	$2.9B0.0%	$2.9B+34.0%	$2.2B+2.8%	$2.1B+2.5%	$2.1B+1.2%	$2.1B+2.4%	$2.0B+0.8%	$2.0B
Retained Earnings	$3.3B-0.6%	$3.3B+33.1%	$2.5B+1.2%	$2.5B-0.4%	$2.5B+1.5%	$2.4B+2.4%	$2.4B+0.6%	$2.4B

GEF Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$58.6M-83.5%	$356.0M-45.2%	$649.5M-1.2%	$657.5M+66.0%	$396.0M-12.9%	$454.7M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$1.7B+355.7%	-$658.3M+1.8%	-$670.2M-2276.6%	-$28.2M-160.3%	$46.8M+285.7%	-$25.2M
Financing Cash Flow	-$1.7B-632.7%	$324.3M+365.3%	$69.7M+113.1%	-$531.0M-25.6%	-$422.9M-4.3%	-$405.3M
Dividends Paid	$101.1M-16.4%	$121.0M+3.9%	$116.5M+4.7%	$111.3M+5.2%	$105.8M+1.4%	$104.3M
Share Buybacks	$0	$0-100.0%	$63.9M-10.1%	$71.1M	$0	$0

Metric	Q2'26	Q1'26	Q4'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	$116.6M+577.9%	-$24.4M-112.3%	$197.7M+61.5%	$122.4M-34.6%	$187.2M+143.8%	$76.8M-12.2%	$87.5M+1844.4%	$4.5M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$59.9M-114.0%	$427.3M+1209.9%	-$38.5M-4.3%	-$36.9M-181.1%	$45.5M+210.4%	-$41.2M+93.2%	-$609.0M-1036.2%	-$53.6M
Financing Cash Flow	-$600K+99.9%	-$429.7M-219.2%	-$134.6M-120.7%	-$61.0M+71.9%	-$217.4M-403.2%	-$43.2M-107.9%	$548.8M+1420.2%	$36.1M
Dividends Paid	$31.8M-2.2%	$32.5M+3.5%	$31.4M+0.6%	$31.2M0.0%	$31.2M+3.7%	$30.1M+0.3%	$30.0M+1.0%	$29.7M
Share Buybacks	$19.1M-85.1%	$128.1M	N/A	$0	$0	$0	$0	$0

GEF Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	22.2%+1.5pp	20.6%-1.6pp	22.2%+2.0pp	20.2%+0.6pp	19.7%-0.6pp	20.3%
Operating Margin	4.3%-3.5pp	7.8%-2.5pp	10.2%+0.4pp	9.8%-0.8pp	10.5%+3.8pp	6.8%
Net Margin	21.4%+15.2pp	6.2%-2.4pp	8.6%+2.7pp	5.9%-1.1pp	7.0%+4.6pp	2.4%
Return on Equity	28.8%+15.7pp	13.2%-4.9pp	18.0%-2.4pp	20.4%-5.8pp	26.2%+17.1pp	9.0%
Return on Assets	14.6%+10.5pp	4.1%-1.9pp	6.0%-0.6pp	6.6%-0.2pp	6.8%+4.8pp	1.9%
Current Ratio	1.27-0.0	1.31-0.3	1.57-0.1	1.67+0.3	1.33-0.0	1.36
Debt-to-Equity	0.31-0.9	1.19+0.1	1.10-0.1	1.16-0.3	1.43-0.5	1.96
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	23.0%+2.6pp	20.4%-2.3pp	22.7%-0.4pp	23.0%+2.4pp	20.6%-0.4pp	21.0%-0.7pp	21.7%+2.7pp	19.0%
Operating Margin	3.3%-22.5pp	25.8%+19.4pp	6.4%+0.8pp	5.6%-1.3pp	7.0%-4.8pp	11.7%+4.4pp	7.3%+3.0pp	4.3%
Net Margin	1.2%-16.4pp	17.5%+11.9pp	5.6%+1.9pp	3.7%-2.6pp	6.3%-1.2pp	7.5%+3.5pp	4.0%-3.0pp	7.0%
Return on Equity	0.4%-5.5pp	5.9%+3.0pp	2.9%+1.0pp	1.9%-1.5pp	3.4%-0.9pp	4.2%+2.0pp	2.2%-1.2pp	3.4%
Return on Assets	0.2%-2.9pp	3.2%+2.2pp	0.9%+0.4pp	0.6%-0.5pp	1.1%-0.2pp	1.3%+0.6pp	0.7%-0.5pp	1.1%
Current Ratio	1.28+0.0	1.23-0.2	1.41+0.1	1.27-0.3	1.53-0.2	1.70+0.1	1.570.0	1.57
Debt-to-Equity	0.24+0.0	0.22-0.8	1.01-0.1	1.07-0.2	1.26-0.1	1.36-0.0	1.39+0.3	1.10
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Greif's annual revenue?

Greif (GEF) reported $3.9B in total revenue for fiscal year 2025. This represents a -9.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Greif's revenue growing?

Greif (GEF) revenue declined by 9.7% year-over-year, from $4.4B to $3.9B in fiscal year 2025.

Is Greif profitable?

Yes, Greif (GEF) reported a net income of $840.0M in fiscal year 2025, with a net profit margin of 21.4%.

What is Greif's EBITDA?

Greif (GEF) had EBITDA of $404.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Greif have?

As of fiscal year 2025, Greif (GEF) had $256.7M in cash and equivalents against $914.8M in long-term debt.

What is Greif's gross margin?

Greif (GEF) had a gross margin of 22.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Greif's operating margin?

Greif (GEF) had an operating margin of 4.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Greif's net profit margin?

Greif (GEF) had a net profit margin of 21.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Greif's return on equity (ROE)?

Greif (GEF) has a return on equity of 28.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Greif's operating cash flow?

Greif (GEF) generated $58.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Greif's total assets?

Greif (GEF) had $5.8B in total assets as of fiscal year 2025, including both current and long-term assets.

What is Greif's current ratio?

Greif (GEF) had a current ratio of 1.27 as of fiscal year 2025, which is considered adequate.

What is Greif's debt-to-equity ratio?

Greif (GEF) had a debt-to-equity ratio of 0.31 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Greif's return on assets (ROA)?

Greif (GEF) had a return on assets of 14.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Greif's Altman Z-Score?

Greif (GEF) has an Altman Z-Score of 2.37, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Greif's Piotroski F-Score?

Greif (GEF) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Greif's earnings high quality?

Greif (GEF) has an earnings quality ratio of 0.07x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Greif?

Greif (GEF) scores 40 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.