|GPGI Overview
GPGI

GPGI, Inc.

Other • CIK: 0001823144

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Market Cap
$2.11B
P/E (TTM)
-9.2x
Rev Growth (TTM)
-61.7%
Net Margin (TTM)
-134.8%
FCF Yield (TTM)
1.1%
FCF Margin (TTM)
14.1%

LATEST EARNINGS

Q3 2025
4 months ago
View source
Revenue
$120.90M
+13.0%
Net Income
$-174.70M
-104.3%
EPS
$0.29
+26.1%
Gross
59.0% +7.3%
Operating
26.3% -0.9%
  • Non-GAAP Net Sales increased 13% to $120.9 million compared to $107.1 million in Q3 2024.
  • Non-GAAP Gross Profit increased to $71.3 million (59.0% gross margin) from $55.4 million (51.7% gross margin) in Q3 2024, reflecting efficiency gains.
  • Non-GAAP Adjusted EPS Diluted increased to $0.29 from $0.23 in Q3 2024.
  • Non-GAAP Pro Forma Adjusted EBITDA increased 30% to $47.7 million from $36.6 million in Q3 2024.

Cash Flow Health

Free Cash Flow7/8 positive
TTM$23M
Q3 '25
$-12M-32373%
Q2 '25
$37000-99%
FCF Margin
TTM14.1%
Sector: 0.0%Top 10%
OCF Margin15.7%
OCF/NI-0.12x
CapEx Coverage9.6x
FCF Yield1.1%
FCF Growth (2Y)-40%
Cash Conversion Cycle
95 days
DSO: 39+DIO: 83DPO: 27

Capital Allocation & Returns

Total Shareholder Yield
TTM0.0%
Div Yield0.0%

Insufficient data

Dividend & Payout Metrics
Dividend Yield (TTM)0.0%
Free Cash Flow (TTM)$22.6M
Capital Return / FCF0.0%
Est. Dividends Paid (TTM)$0
Shows how management rewards shareholders

Operational Efficiency & Returns

Return on Invested CapitalTTM
-19.5%
Volatile
-425.3%
P25MedianP75
25th pctl (med: 0.0%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
6.9%
Asset Turnover
0.41x
8Q: 1.10x
Leverage (1+D/E)
1.00x
D/E: 0.00x
DuPont: 2.8%-19.5% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
18.37x
8Q:
Invested Cap Turn
-2.84x
8Q:-0.86x
+77.9%
CapEx Intensity
-4.6%
8Q:-1.3%
CapEx/Depreciation
0.68x
Asset-based ROIC formula

QUARTERLY TRENDS

Last 8 quarters + TTM

MetricTTMQ3 2025Q2 2025Q 2025Q4 2024Q 2024Q 2024Q 2024Q4 2023
Revenue
$160.7M
$0
$0100.0%
$59.8M40.7%
$100.9M5.9%
$107.1M1.3%
$108.6M4.4%
$104.0M4.1%
$99.9M
Operating Income
$9.1M
$-9.9M274.2%
$-2.7M143.9%
$6.0M61.3%
$15.6M46.4%
$29.1M8.5%
$31.8M2.1%
$31.1M2.0%
$30.5M
Net Income
$-216.7M
$-174.7M568.7%
$-26.1M221.6%
$21.5M157.6%
$-37.3M11.2%
$-42.1M479.0%
$11.1M175.8%
$4.0M18.5%
$3.4M
Operating Cash Flow
$25.2M
$-11.9M32373.0%
$37.0K98.8%
$3.0M91.2%
$34.1M15.9%
$29.4M8.7%
$32.2M4.5%
$33.8M27.7%
$26.4M
Free Cash Flow
$22.6M
$-11.9M32373.0%
$37.0K98.8%
$3.0M90.4%
$31.5M13.3%
$27.8M9.6%
$30.7M4.4%
$32.1M45.0%
$22.2M
Total Equity
N/A

Valuation Analysis

Fair Value
Price-to-EarningsTTM
-9.2x
Valuation Lenses
Earnings
-9.2x
vs sector
Cash Flow
2.0x
EV/FCF vs
Growth-Adj
PEG
N/A
Quality-Adj
P/E per %ROIC
ROIC: -19.5%
Shareholder Returns
Dividend
Buyback
Total Yield
Market Cap$2.11B
EV
Multi-angle valuation analysis with sector context

Business Quality & Moat

Overall Quality Score
40/100
Average

Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)

Returns on Capital

Return on Equity (ROE)Top 10%
2.1%
8Q:
Return on Invested Capital (ROIC)Below Avg
-19.5%
8Q:
-425.3%
vs Sector:0.0%

DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)

NOPAT Margin: 6.9%
Asset Turnover: 0.41x

Earnings Quality

Cash Conversion

-0.12x

OCF / Net Income

FCF Consistency

Positive quarters

Competitive Moat Indicators

Pricing Power

Gross Margin50.6%

Capital Efficiency

Invested Capital Turnover-2.84x

Working Capital

Cash Conversion Cycle95 days

Growth Quality & Momentum

Low Quality
Growth Quality Score
20/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%

Growth Rates

Revenue Growth YoY
-61.7%
OpInc Growth YoY
-134.2%
EPS Growth YoY
-502.5%
FCF 3Y CAGR
-39.8%

Growth Quality Analysis

Efficient Growth: Free cash flow growing faster than revenue

Margin Quality & Sustainability

Moderate
Profitability Cascade
Gross
50.6%
Operating
5.6%
Below Avg in sector
Net
-134.8%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
FCF vs Net Gap
+148.9 pts
FCF: 14.1% | Net: -134.8%

Quality = stability + cash conversion + low dilution

Balance Sheet & Solvency

Fortress
Net Debt / EBITDA
Net Cash
(0.0x)Net Cash: $127.36M
Interest Coverage
+Net cash position: $127.36M
Leverage Metrics
Debt-to-Equity
0.00x
Balance sheet risk & solvency analysis