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Sealed Air Corp SEE

Morningstar Rating
$34.87 +0.79 (2.32%)
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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 within a range we consider fairly valued.
Price
$34.87
Fair Value
$34.00
Uncertainty
High
1-Star Price
$49.10
5-Star Price
$27.40
Economic Moat
Vthvs
Capital Allocation
Pvbtjgmp

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.

Is it the right time to buy, sell, or hold?
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News

Trading Information

Previous Close Price
$34.08
Day Range
$33.8335.28
52-Week Range
$28.5049.53
Bid/Ask
$34.00 / $35.49
Market Cap
$5.09 Bil
Volume/Avg
2.3 Mil / 2.6 Mil

Key Statistics

Price/Earnings (Normalized)
10.57
Price/Sales
0.92
Dividend Yield (Trailing)
2.29%
Dividend Yield (Forward)
2.29%
Total Yield
3.86%

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
16,300

Competitors

Valuation

Metric
SEE
SON
PKG
Price/Earnings (Normalized)
10.5710.7820.34
Price/Book Value
9.262.294.18
Price/Sales
0.920.832.08
Price/Cash Flow
7.047.6012.35
Price/Earnings
SEE
SON
PKG

Financial Strength

Metric
SEE
SON
PKG
Quick Ratio
0.521.001.35
Current Ratio
1.231.762.17
Interest Coverage
2.975.4219.19
Quick Ratio
SEE
SON
PKG

Profitability

Metric
SEE
SON
PKG
Return on Assets (Normalized)
6.93%7.30%9.92%
Return on Equity (Normalized)
138.47%22.98%21.10%
Return on Invested Capital (Normalized)
13.03%10.80%12.87%
Return on Assets
SEE
SON
PKG
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Packaging & Containers Industry Comparables

Ticker
Name
Morningstar Rating for Stocks
Economic Moat
Market Cap
BALL
Ball CorpCfvct$20.2 Bil
AVY
Avery Dennison CorpCpmvdb$17.4 Bil
PKG
Packaging Corp of AmericaTbvp$16.2 Bil
AMCR
Amcor PLC Ordinary SharesFgbxkt$13.1 Bil
IP
International Paper CoLxpx$12.2 Bil
WRK
WestRock CoTxwrd$11.6 Bil
CCK
Crown Holdings IncXqczk$9.3 Bil
SON
Sonoco Products CoWblqq$5.6 Bil
SLGN
Silgan Holdings IncYbnbm$4.7 Bil

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