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Sealed Air Corp SEE

Morningstar Rating
$35.69 −0.43 (1.19%)
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Company Report

Sealed Air Earnings: End Market Demand Remains Tepid Amid Persistent Headwinds: Shares Attractive

Narrow-moat rated SEE reported fourth-quarter results that were largely in line with our expectations as near-term headwinds continued to pressure packaging end markets. Net sales in the fourth quarter declined 2% as contributions from acquisitions were not enough to offset weakness in SEE’s protective business, a trend that persisted for much of 2023. Soft end market demand across much of SEE’s portfolio has weighed on volumes, but positive developments in inventory destocking and consumer spending provide optimism for improvements in 2024. As such, we have maintained our $54 fair value estimate.

Price vs Fair Value

SEE is trading at a 34% discount.
Price
$35.69
Fair Value
$46.00
Uncertainty
High
1-Star Price
$26.80
5-Star Price
$68.30
Economic Moat
Cljyd
Capital Allocation
Wzqwrjy

Bulls Say, Bears Say

Bulls

Sealed Air is well positioned as the leader in food packaging and automation to capitalize on growing food demand from global population increases.

Bears

Sealed Air’s leading position in food packaging solutions could be threatened as competitors increase investments in automation.

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News

Trading Information

Previous Close Price
$36.12
Day Range
$35.6536.43
52-Week Range
$28.5048.44
Bid/Ask
$35.00 / $37.28
Market Cap
$5.16 Bil
Volume/Avg
1.1 Mil / 1.7 Mil

Key Statistics

Price/Earnings (Normalized)
11.19
Price/Sales
0.94
Dividend Yield (Trailing)
2.24%
Dividend Yield (Forward)
2.24%
Total Yield
3.79%

Company Profile

Sealed Air is organized via two reporting segments. Food care includes food packaging products like Cryovac, Darfresh, and OptiDure aimed primarily at meats. Product care includes Sealed Air's Bubble Wrap, Instapak, Jiffy mailers, and shrink film packaging systems that cater to industrial and e-commerce applications.
Sector
Consumer Cyclical
Industry
Packaging & Containers
Stock Style Box
Small Core
Total Number of Employees
17,000

Competitors

Valuation

Metric
SEE
SON
PKG
Price/Earnings (Normalized)
11.1910.6320.83
Price/Book Value
9.382.264.06
Price/Sales
0.940.822.08
Price/Cash Flow
7.207.4912.26
Price/Earnings
SEE
SON
PKG

Financial Strength

Metric
SEE
SON
PKG
Quick Ratio
0.611.001.72
Current Ratio
1.301.762.57
Interest Coverage
2.505.4220.03
Quick Ratio
SEE
SON
PKG

Profitability

Metric
SEE
SON
PKG
Return on Assets (Normalized)
6.47%7.30%9.56%
Return on Equity (Normalized)
111.92%22.98%20.47%
Return on Invested Capital (Normalized)
13.10%10.80%12.32%
Return on Assets
SEE
SON
PKG
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Packaging & Containers Industry Comparables

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Name
Morningstar Rating for Stocks
Economic Moat
Market Cap
BALL
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AVY
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PKG
Packaging Corp of AmericaZfmy$16.2 Bil
AMCR
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WRK
WestRock CoSnb$12.4 Bil
IP
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CCK
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SON
Sonoco Products CoTvkj$5.5 Bil
SLGN
Silgan Holdings IncPtcn$4.7 Bil

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