Strategy

2001 Working Capital Survey – Chart 7

CONTAINERS & PACKAGING
CFO StaffJuly 1, 2001

Behind the Rankings

The management of working capital combines two measures, weighted equally:
1. Days of Working Capital (DWC) = (Receivables + Inventory ­ Payables) ÷ (Sales ÷ 365 Days). If payables exceed the sum of receivables and inventory, DWC is negative.
2. Cash Conversion Efficiency (CCE) = Cash Flow from Operations ÷ Sales.

The overall ranking: (Highest Overall CCE ­ Company CCE) ÷ (Highest Overall CCE ­ Lowest Overall CCE) + (Lowest Overall DWC ­ Company DWC) ÷ (Lowest Overall DWC ­ Highest Overall DWC). Days of Sales Outstanding (DSO), Inventory Turns, and Days of Payables Outstanding (DPO) are not part of the overall ranking criteria. Industry averages consider all companies in an industry, not just the top five.

CFO Insights on Inflation, Workforce Challenges, and Future Plans 

CFO Insights on Inflation, Workforce Challenges, and Future Plans 

Download our 2022 survey report for a high-level view of finance team projections and strategies, directly from our CFO.com executive readers.

Sources: REL Consultancy Group, Piranha Web


Back to “Forget the Float? — The 2001 Working Capital Survey”

CONTAINERS & PACKAGING
Over- all Rank Company Name Prior Year Sales Cash Conver. Effic. Days Working Capital Days Sales Outst. Inven. Turns Days Payable Outst.
CCE Rk. DWC Rk. DSO Rk. Ts. Rk. DPO Rk.
188 PACKAGING CORP OF AMERICA $1,922 16% 163 45 410 34 306 8 398 26 579
325 CROWN CORK & SEAL CO INC $7,289 7% 548 28 241 58 635 5 672 92 18
372 SONOCO PRODUCTS CO $2,711 11% 358 52 469 46 459 8 378 28 516
387 APTARGROUP INC $883 14% 241 73 657 86 908 5 679 63 75
388 SEALED AIR CORP NEW $3,068 14% 232 75 670 61 687 7 460 22 714
391 GREIF BROS CORP $930 10% 367 54 494 51 551 13 240 20 793
409 SILGAN HOLDINGS INC $1,857 8% 511 43 385 28 231 6 506 36 305
422 BALL CORP $3,665 9% 465 48 440 26 210 5 602 37 287
435 PACTIV CORP $3,134 10% 413 56 504 36 330 5 620 31 424
438 BEMIS CO INC $2,165 10% 364 62 556 50 520 6 533 36 293
588 PECHINEY SA $9,531 4% 749 45 405 50 529 7 484 53 114
623 IVEX PACKAGING CORP NEW $711 7% 601 66 602 49 513 6 528 30 431
780 ANCHOR GLASS CONTAINER CORP NEW $629 4% 774 72 647 39 368 5 607 33 377
872 GAYLORD CONTAINER CORP $1,168 -1% 962 64 574 54 589 11 289 20 772
993 TEMPLE INLAND INC $4,286 19% 126 303 999 931 999 1 989 849 1
507 Industry Average $2,930 9%   72   107   6   92  

Back to the 2001 Working Capital Survey

4 Powerful Communication Strategies for Your Next Board Meeting