{
 "company": "Sonoco Products Company",
 "ticker": "SON",
 "sector": "Packaging & Containers",
 "fiscalYearEnd": null,
 "revenueUsdM": 7518.8,
 "normalizedSga": {
  "pctRevenue": 11.18,
  "peerCount": 13,
  "peerMedianPctRevenue": 11.2,
  "peerLeanQuartilePctRevenue": 6.8,
  "peers": [
   {
    "ticker": "CCK",
    "name": "Crown Holdings, Inc.",
    "normalizedSgaPctRevenue": 4.84
   },
   {
    "ticker": "PKG",
    "name": "Packaging Corporation of America",
    "normalizedSgaPctRevenue": 7.06
   },
   {
    "ticker": "BALL",
    "name": "Ball Corporation",
    "normalizedSgaPctRevenue": 5.15
   },
   {
    "ticker": "AVY",
    "name": "Avery Dennison Corporation",
    "normalizedSgaPctRevenue": 14.52
   },
   {
    "ticker": "GPK",
    "name": "Graphic Packaging Holding Company",
    "normalizedSgaPctRevenue": 7.95
   },
   {
    "ticker": "TRS",
    "name": "TriMas Corporation",
    "normalizedSgaPctRevenue": 20.02
   },
   {
    "ticker": "OI",
    "name": "O-I Glass, Inc.",
    "normalizedSgaPctRevenue": 6.75
   },
   {
    "ticker": "MYE",
    "name": "Myers Industries, Inc.",
    "normalizedSgaPctRevenue": 20.88
   },
   {
    "ticker": "KRT",
    "name": "Karat Packaging Inc.",
    "normalizedSgaPctRevenue": 26.83
   },
   {
    "ticker": "SLGN",
    "name": "Silgan Holdings Inc.",
    "normalizedSgaPctRevenue": 7.6
   },
   {
    "ticker": "GEF",
    "name": "Greif, Inc.",
    "normalizedSgaPctRevenue": 17.44
   },
   {
    "ticker": "PACK",
    "name": "Ranpak Holdings Corp.",
    "normalizedSgaPctRevenue": 27.7
   }
  ],
  "definition": "Reported SG&A less the disclosed lines that distort comparison: advertising, R&D, pension, stock-based compensation, restructuring and one-time items, plus logistics reclassed where filers park it in SG&A."
 },
 "disclosedLines": [
  {
   "key": "research_dev",
   "label": "R&D",
   "pctRevenue": 0.29,
   "companiesDisclosing": 6,
   "peersDisclosing": [
    {
     "ticker": "CCK",
     "pctRevenue": 0.27
    },
    {
     "ticker": "AVY",
     "pctRevenue": 1.54
    },
    {
     "ticker": "GPK",
     "pctRevenue": 0.22
    },
    {
     "ticker": "OI",
     "pctRevenue": 0.65
    },
    {
     "ticker": "PACK",
     "pctRevenue": 1.04
    }
   ],
   "note": "R&D in this cohort is product engineering and varies by design. Not where the overhead question lives."
  },
  {
   "key": "stock_comp",
   "label": "Stock-based comp",
   "pctRevenue": 0.24,
   "companiesDisclosing": 10,
   "peersDisclosing": [
    {
     "ticker": "CCK",
     "pctRevenue": 0.39
    },
    {
     "ticker": "PKG",
     "pctRevenue": 0.5
    },
    {
     "ticker": "AVY",
     "pctRevenue": 0.32
    },
    {
     "ticker": "GPK",
     "pctRevenue": 0.02
    },
    {
     "ticker": "TRS",
     "pctRevenue": 1.78
    },
    {
     "ticker": "OI",
     "pctRevenue": 0.39
    },
    {
     "ticker": "MYE",
     "pctRevenue": 0.42
    },
    {
     "ticker": "KRT",
     "pctRevenue": 0.26
    },
    {
     "ticker": "SLGN",
     "pctRevenue": 0.28
    }
   ],
   "note": "Below the peer median. Not distorting the overhead picture."
  }
 ],
 "gapToPeers": null,
 "tsrBridge": [
  {
   "label": "3 years",
   "span": "FY2022 to FY2025",
   "companyTsrPct": -19,
   "peerTsrPct": 14,
   "driverPp": {
    "Revenue growth": 52.6,
    "Gross margin": -2.9,
    "SG&A": 81.5,
    "Multiple": -148.6,
    "Other": -15.2
   }
  },
  {
   "label": "5 years",
   "span": "FY2020 to FY2025",
   "companyTsrPct": -12,
   "peerTsrPct": 16,
   "driverPp": {
    "Revenue growth": 18.8,
    "Gross margin": 13,
    "SG&A": 138.5,
    "Multiple": -156,
    "Other": -42.0
   }
  },
  {
   "label": "10 years",
   "span": "FY2016 to FY2025",
   "companyTsrPct": 12,
   "peerTsrPct": 90,
   "driverPp": {
    "Revenue growth": 3.7,
    "Gross margin": 3.3,
    "SG&A": 43,
    "Multiple": -76.8,
    "Other": -50.6
   }
  }
 ],
 "recentQuarter": null,
 "sources": [
  "10-K and 10-Q filings (US GAAP)",
  "XBRL company facts",
  "earnings releases"
 ],
 "urls": {
  "briefing": "https://sgabenchmarking.com/r/SON",
  "json": "https://sgabenchmarking.com/r/SON.json",
  "industryBenchmarks": "https://sgabenchmarking.com/catalog.json"
 },
 "publisher": "SG&A Benchmarking, https://sgabenchmarking.com"
}