Does SONOCO PRODUCTS CO have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores SONOCO PRODUCTS CO (SON) 45.0 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 34, returns on capital 45, balance-sheet safety 26, capital discipline 81.

Is SON stock trading below its intrinsic value?

Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $52.54 per share versus a recent price of $56.57 — 8% above value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has SON's Moat Score changed over time?

The record logs 3 readings since Jul 17, 2026; the latest reads 45.0 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

SONOCO PRODUCTS CO

SON · Materials · $5.6B mkt cap · FY2025 filings · Shallow moat ·

Doesn't clear the bar

Shallow moat

The four filters

Pricing power34

Median gross margin 19.9% over 10y, very stable.

Returns on capital45

Median ROIC 9.8%, above the 9% hurdle in 70% of years.

Balance-sheet safety26

Net debt/EBITDA 2.6x, interest coverage 4x.

Capital discipline81

Owner earnings +16.2%/yr, share count flat.

Margin of safety

Above valueOn sale

8% above value

Owner earnings (normalized): $466.4M
Est. intrinsic value / share: $52.54
Recent price: $56.57
Discount to value: 8% above value

Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

19 years of fundamentals

The business, in plain English

SONOCO PRODUCTS CO booked $7.5B of revenue in FY2025 in the Materials sector and kept 20.9% of it as gross profit — a moderate-margin business by that measure. After every other cost, 13.3% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $4.1B (FY2008) to $7.5B (FY2025) — about 3.6% a year compounded over 17 years.

It earned 10.2% on invested capital in FY2025, with a median of 9.8% across 18 filed years. The Returns on Capital filter above scores it 45/100.

The balance sheet carried $4.3B of total debt in FY2025 against $1.2B of owner earnings — roughly 3.7 years of owner earnings to retire it all. Balance-Sheet Safety scores it 26/100.

The share count has held roughly flat between FY2009 and FY2025. Capital Discipline scores it 81/100.

Put together: Capital Discipline is the strongest of the four filters (81/100) and Balance-Sheet Safety the weakest (26/100), which is how SON lands at 45/100 — a Shallow moat.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

RevenueSales, as filed$7.5B FY2025

Gross marginRevenue kept after cost of goods20.9% FY2025

Return on invested capitalOperating profit on the capital employed10.2% FY2025

Owner earningsCash an owner could take out$1.2B FY2025

Gaps in a line mean that item isn’t in SON’s filings for that year — the series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale45.0 / 100

Score history begins Jul 17, 2026 — the record builds from here and can’t be backfilled.

Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars

None yet — SON has read Shallow moat for every logged capture since Jul 17, 2026.

Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.

Materials context

#84 of 214 scored Materials companies, ranked by Moat Score.

Nearest peers by Moat Score

#82EPM EVOLUTION PETROLEUM CORP45.7 out of 100, Shallow moatShallow moat
#83REI Ring Energy, Inc.45.3 out of 100, Shallow moatShallow moat
#85CDXS Codexis, Inc.44.8 out of 100, Shallow moatShallow moat
#86OEC ORION S.A.44.4 out of 100, Shallow moatShallow moat

Compare SON with its nearest peers →All Materials companies on the Index →

Common questions about SON

Does SONOCO PRODUCTS CO have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores SONOCO PRODUCTS CO (SON) 45.0 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 34, returns on capital 45, balance-sheet safety 26, capital discipline 81.
Is SON stock trading below its intrinsic value?: Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $52.54 per share versus a recent price of $56.57 — 8% above value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has SON's Moat Score changed over time?: The record logs 3 readings since Jul 17, 2026; the latest reads 45.0 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell SON. See the disclaimer.