APTARGROUP, INC.
ATRdata completeness 100%18 fiscal years on fileData notes: no data for concept 'investmentsAtFairValue'; no data for concept 'netInvestmentIncome'; no data for concept 'gainsOnRealEstateSales'; no data for concept 'realEstateImpairment'
APTARGROUP, INC. earns about 15% on invested capital, comfortably above its ~9% cost of capital, with a roughly flat share count — a real edge showing up in the numbers. The estimate methods put fair value between $44.18 and $271.05 a share.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.
| Figure | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|
| Revenue | $3.23B1 | $3.32B2 | $3.49B3 | $3.58B3 | $3.78B3 |
| Net income | $244.1M4 | $239.3M5 | $284.5M6 | $374.5M6 | $392.8M6 |
| Operating cash flow | $363.4M7 | $478.6M8 | $575.2M9 | $643.4M9 | $570M9 |
| Capital expenditure | $307.9M10 | $310.4M11 | $312.3M12 | $276.5M12 | $270.4M12 |
| Free cash flow (derived) | $55.5M7 | $168.2M8 | $262.9M9 | $366.9M9 | $299.6M9 |
| Total debt | $147.3M13 | $3.81M14 | $81.8M15 | $176M16 | $183.9M16 |
| Cash & equivalents | $122.9M17 | $141.7M18 | $223.6M19 | $223.8M19 | $402.4M19 |
| Diluted shares | 67.7M | 66.7M | 66.9M | 67.7M | 66.7M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $399.86 of net worth that earned you $58.87 and generated $44.9 of cash last year, against $27.57 of debt.
It earned about 15% on invested capital against a ~9% cost of capital — comfortably above the cost of funding, a moderate advantage.
seeing a moat in the numbers →Share count is roughly flat over 5 years — little dilution, little buyback. Total debt has risen 25% over the same window.
reading capital allocation →Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.
The 3 estimate methods that apply put fair value between $44.18 and $271.05 a share. They rest on different assumptions, so where they diverge is the story; the Graham Number is a stricter floor, not a target.
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears10
- fcfGrowth20.0%
- fcfBase$299.6M
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth20.0%
- fcfBase$299.6M
assumptions (8)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- normalizedEarnings$284.5M
- growthAssumed0.0%
assumptions (1)
- grahamMultiplier2250.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $67.42 |
| Base | 20.0% | $149.66 |
| Bull | 20.0% | $149.66 |
Bear/base/bull growth = 0% / filed history / history + 5pp. Type a price to see the return each case implies.
Default growth 20.0%= this company’s own filed history (median-to-median FCF CAGR, clamped 0–20%). Your adjustments are recorded anonymously. They become the “what do owners actually believe” dataset.
- 10-K · period ending 2021-12-31 · accession 0000896622-24-000010 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2022-12-31 · accession 0000896622-25-000007 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2023-12-31 · accession 0000896622-26-000007 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2021-12-31 · accession 0000896622-24-000010 (NetIncomeLoss)
- 10-K · period ending 2022-12-31 · accession 0000896622-25-000007 (NetIncomeLoss)
- 10-K · period ending 2023-12-31 · accession 0000896622-26-000007 (NetIncomeLoss)
- 10-K · period ending 2021-12-31 · accession 0000896622-24-000010 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2022-12-31 · accession 0000896622-25-000007 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2023-12-31 · accession 0000896622-26-000007 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2021-12-31 · accession 0000896622-24-000010 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2022-12-31 · accession 0000896622-25-000007 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2023-12-31 · accession 0000896622-26-000007 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2021-12-31 · accession 0000896622-23-000008 (ShortTermBorrowings)
- 10-K · period ending 2022-12-31 · accession 0000896622-24-000010 (ShortTermBorrowings)
- 10-K · period ending 2023-12-31 · accession 0000896622-25-000007 (ShortTermBorrowings)
- 10-K · period ending 2024-12-31 · accession 0000896622-26-000007 (ShortTermBorrowings)
- 10-K · period ending 2021-12-31 · accession 0000896622-24-000010 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2022-12-31 · accession 0000896622-25-000007 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2023-12-31 · accession 0000896622-26-000007 (CashAndCashEquivalentsAtCarryingValue)