Pricing Log in Create free account
Friday 6 November 2026 Export BALL’s income statement to Excel — free account

Ball Corporation

BALL Consumer Cyclical Packaging & Containers

Ball Corporation’s revenue for fiscal 2025 (year ended December 2025) was $13.2 billion, up 11.6% from fiscal 2024.

Revenue
+23.9%
EPS
−130.2%
Free cash flow
−87.6%
Total debt
+1.05%

Quarter to September 2026, against a year earlier

66.89 0.49 −0.73%
Market cap
$17.4B
P/E
33.6×
Fwd P/E
19.0×
Dividend yield
1.20%
F-score
6/9
Altman Z
2.45
Beneish M
−2.38
Dividend safety
71/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2025

  • Beverage packaging, North and Central America
  • Beverage Packaging, EMEA
  • Beverage packaging, South America
  • Other, not broken out

Every year since 2009 →

Insider Decisions last twelve months

Bought, $m 0.10
Sold, $m 2.34
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — 1 — — — — — — — —
Sell — — 1 1 — — — — 2 — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Size
Market Cap 17,420.00
Revenue ttm 15,135.00
Net income ttm 534.00
Free cash flow ttm 602.00
Net debt Q 6,874.00
Valuation
P/E 33.55
Forward P/E 19.00
Price / sales 1.17
Forward P/S Powerpack
Price / FCF 29.31
Price / book 3.07
Financial health
Current ratio Q 1.04
Debt / equity Q 1.27
Interest coverage Q (1.03)
Growth
Revenue growth Q +23.94% (above 0%: growing)
Operating income growth Q −116.45% (below 0%: shrinking)
EPS, this year +12.08%
EPS, next year A +11.74%
Revenue, next year A +13.49% (at or above 10%: strong)
EPS, past 5 yrs +13.40%
EPS, next 5 yrs A +11.80%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.6×, against a ten-year median of 2.1×; over the ten years it ranged from 1.4× in 2026 to 3.4× in 2020.
P/E against its own 10 years 55.59%
10-year low 10-year high
P/S against its own 10 years 13.09%
10-year low 10-year high
P/B against its own 10 years 25.27%
10-year low 10-year high
EV/Sales against its own 10 years 7.00%
10-year low 10-year high
EV/FCF against its own 10 years 43.96%
10-year low 10-year high

Dividends

Yield
1.20%
Annual rate
0.80
Payout ratio
40.1%
Growth, 2017–25
+10.3%/yr
  1. 0.37 ’17
  2. 320.40 ’18 +87681
  3. 240.55 ’19 −25
  4. 320.60 ’20 +33
  5. 360.70 ’21 +13
  6. 270.80 ’22 −25
  7. 90.80 ’23 −66
  8. 0.80 ’24 −99
  9. 0.80 ’25 +0
  10. 0.80 ’26e +0
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 695 885 1,212 410
Receivables 2,057 2,166 2,606 3,509
Inventory 1,531 1,477 2,013 2,645
Other 600 313 282 306
4,883 4,841 6,113 6,870
2023 2024 2025 Q'26
Payables 3,661 3,418 4,452 4,686
ST’ Debt 1,065 361 21 895
Other 1,214 765 711 748
6,185 4,847 5,487 6,583

Compound Annual Growth %

10y 5y 3y
Sales 5.11% 2.24% (0.53%)
Cash Flow 2.28% (2.50%) 61.25%
Earnings 12.49% 9.29% 8.25%
Book Value 15.70% 10.19% 15.41%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 1.06 Actual 1.10

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.90 0.91 Beat by 0.01
Q1 FY26 0.85 0.94 Beat by 0.09
Q2 FY26 0.99 1.03 Beat by 0.04
Q3 FY26 1.06 1.10 Beat by 0.04
Q4 FY26 0.97 — Reports 2 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.77 0.83 (0.36) — —
’25 0.63 0.76 1.18 0.75 3.30
’24 11.61 0.51 0.65 (0.11) 13.00
’23 0.56 0.55 0.64 0.49 2.23
’22 1.37 (0.55) 1.24 0.17 2.25
’21 0.60 0.61 0.54 0.90 2.65
’20 0.07 0.28 0.72 0.68 1.76
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 3,603 3,997 4,188 — —
’25 3,097 3,338 3,379 3,347 13,161
’24 2,874 2,959 3,082 2,880 11,795
’23 2,981 3,067 3,111 2,903 12,062
’22 3,716 4,134 3,951 1,571 13,372
’21 3,125 3,459 3,553 3,674 13,811
’20 2,785 2,801 3,093 3,102 11,781
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (777) 608 189 — —
’25 (665) 332 384 1,211 1,262
’24 (1,247) 252 610 500 115
’23 (275) 636 766 736 1,863
’22 (804) 406 174 525 301
’21 (477) 645 708 884 1,760
’20 (708) 476 577 1,087 1,432
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (938) 467 32 — —
’25 (746) 236 257 1,041 788
’24 (1,401) 146 493 393 (369)
’23 (618) 371 544 521 818
’22 (1,166) (51) (269) 136 (1,350)
’21 (840) 251 261 362 34
’20 (921) 242 341 657 319
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 15.2% a year for ten years. It grew 22.8% a year over the last ten.

Implied
15.2%
10 years, reported
22.8%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.8
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 9,061 10,983 11,635 11,474 11,781 13,811 13,372 12,062 11,795 13,161 15,135 +4.2% 14,937 15,603 15,962 +6.6%
Gross margin, % 19.48 20.63 19.82 19.79 20.86 19.74 16.83 19.13 20.70 19.59 17.84 +0.1 pt
EBT 125 514 633 608 687 1,008 713 614 535 1,128 631 +27.7%
EBT margin, % 1.38 4.68 5.44 5.30 5.83 7.30 5.33 5.09 4.54 8.57 4.17 +7.2 pt
Net income 266 380 453 536 582 878 732 711 4,014 915 534 +14.7%
Per share, $
Per share, $ Revenue 28.63 31.36 33.74 34.65 36.11 42.37 42.26 38.32 38.61 47.99 57.37 +5.9%
Earnings 0.83 1.14 1.32 1.71 1.79 2.69 2.27 2.25 13.12 3.33 1.99 +16.7%
Cash flow 0.61 4.22 4.54 4.68 4.39 5.40 0.95 5.92 0.38 4.60 4.67 +25.2%
Capex (1.91) (1.59) (2.37) (1.81) (3.41) (5.29) (5.22) (3.32) (1.58) (1.73) (2.38) (1.1%)
Free cash flow (1.30) 2.63 2.18 2.87 0.98 0.10 (4.27) 2.60 (1.21) 2.87 2.28 n/m
Book value 11.19 11.55 10.33 9.12 10.23 11.30 11.15 12.19 19.41 19.77 21.76 +6.5%
Shares, m 317 350 345 331 326 326 316 315 305 274 267 (1.6%)
Valuation, ×
Valuation, × P/E 38.36 33.74 34.83 37.82 52.06 35.66 22.89 25.44 4.32 15.91 33.55 30.1
P/S 1.32 1.23 1.36 1.87 2.58 2.27 1.23 1.49 1.43 1.10 1.17 1.6
P/B 3.39 3.34 4.45 7.09 9.11 8.52 4.66 4.67 2.84 2.68 3.07 5.1
EV/Sales 2.09 1.83 1.88 2.39 3.13 2.79 1.86 2.14 1.83 1.54 1.62 2.1
EV/FCF (45.82) 21.75 29.15 28.88 115.47 1,134.03 (18.40) 31.55 (58.61) 25.80 40.73 126.4
Cash, $m
Cash, $m Operating cash flow 193 1,478 1,566 1,548 1,432 1,760 301 1,863 115 1,262 1,231 +23.2%
Capex (606) (556) (816) (598) (1,113) (1,726) (1,651) (1,045) (484) (474) (629) (2.7%)
Free cash flow (413) 922 750 950 319 34 (1,350) 818 (369) 788 602 n/m
Balance, $m
Balance, $m Working capital 684 (349) (155) (693) 231 (730) (1,519) (1,302) (6) 626 287 (1.0%)
Net debt 6,935 6,523 6,008 6,019 6,434 7,174 8,400 7,874 4,788 5,800 6,874 (2.0%)
Shareholders’ equity 3,541 4,046 3,562 3,019 3,337 3,685 3,527 3,837 5,930 5,421 5,740 +4.8%
Returns, %
Returns, % ROA 2.03 2.24 2.69 3.34 3.29 4.63 3.63 3.61 21.71 4.91 2.73 +2.9 pt
ROIC 2.76 4.74 6.11 6.45 6.42 7.43 5.40 5.54 4.45 7.97 4.57 +5.2 pt
ROE 10.95 9.86 11.93 17.20 18.41 25.01 19.94 19.20 82.07 16.07 9.51 +5.1 pt
People
People Employees 18,450 18,300 17,500 18,300 21,500 24,300 21,000 21,000 16,000 16,000 — (1.6%)
Revenue/emp, $m 0.49 0.60 0.66 0.63 0.55 0.57 0.64 0.57 0.74 0.82 — +5.9%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

Ball Corporation makes aluminum packaging for beverage, personal care and household products companies. Its largest product line is aluminum beverage containers: the cans that beverage companies fill with products such as soft drinks, beer and energy drinks. Ball also makes extruded aluminum aerosol containers, reclosable aluminum bottles and aluminum slugs, which are pieces of metal used in manufacturing.

Ball sells its packaging globally to multinational companies and regional customers. Many beverage cans are supplied under multi-year contracts, and the company has long-standing relationships with customers. Its operations span North and Central America, Europe, the Middle East and Africa, and South America. It also makes beverage packaging in India and Myanmar and personal and home care packaging in several regions.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
Beverage packaging, North and Central America 6,286 47.76%
Beverage Packaging, EMEA 3,983 30.26%
Beverage packaging, South America 2,162 16.43%
Other, not broken out 730 5.55%
Gross margin 19.59%
Operating margin 10.87%
Pre-tax margin 8.57%

Revenue by segment since 2009

Ball Corporation vs peers in Packaging & Containers (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
SW Smurfit Westrock PLC $23.3B 49.6× 29.4× +1.97% (above 0%: growing) −11.85% (below 0%: shrinking) −29.37% (below 0%: shrinking) 17.64% 5.97% Compare
PKG Packaging Corporation of America $22.2B 30.4× 26.2× +12.46% (above 0%: growing) +16.67% (above 0%: growing) +5.30% (above 0%: growing) 23.21% 14.81% Compare
AMCR Amcor PLC $21.2B 19.4× 15.8× +25.90% (above 0%: growing) n/m +54.49% (above 0%: growing) 20.90% 10.10% Compare
IP International Paper Company $18.1B — (loss-making) — (loss-making) −0.40% (below 0%: shrinking) n/m −218.18% (below 0%: shrinking) 31.21% 4.70% Compare
BALL Ball Corporation $17.4B 33.6× 19.0× +23.94% (above 0%: growing) n/m −87.55% (below 0%: shrinking) 16.93% (1.84%)
AVY Avery Dennison Corporation $14.3B 20.5× 19.2× +5.24% (above 0%: growing) +5.16% (above 0%: growing) −9.96% (below 0%: shrinking) 28.08% 11.69% Compare
CCK Crown Holdings, Inc. $13.2B 16.9× 16.3× +15.90% (above 0%: growing) +12.37% (above 0%: growing) −39.10% (below 0%: shrinking) 16.41% 11.91% Compare
REYN Reynolds Consumer Products Inc. $5.2B 16.0× 14.6× +1.40% (above 0%: growing) −27.61% (below 0%: shrinking) −81.25% (below 0%: shrinking) 25.00% 10.38% Compare
SON Sonoco Products Company $5.1B — (loss-making) — (loss-making) −4.20% (below 0%: shrinking) n/m +1.80% (above 0%: growing) 19.85% (31.25%) Compare
Median of peers $16.2B 20.0× 17.8× +3.61% +5.16% −19.66% 22.06% 10.24%

All 23 Packaging & Containers stocks →

From the latest earnings call

Updated

  • CEO Ron Lewis said growth has created operational friction in Europe, where Ball is integrating acquired plants in Hungary and Belgium.
  • CFO Daniel Rabbitt said Ball expects fourth-quarter metal pass-through timing to reverse and anticipates working capital normalizing as inventories come back in line.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 87.26%
Held by the ten largest 46.08%
Holder Shares Stake Change
Vanguard 31.70m 11.98% +26.93k
BlackRock 21.01m 7.94% −1.86m
State Street 13.42m 5.07% +1.02m
T. Rowe Price 12.73m 4.81% −12.07m
Boston Partners 8.78m 3.32% +4.23m
JPMorgan Chase 7.41m 2.80% +155.20k
Geode Capital Management 7.10m 2.68% −10.39k
Morgan Stanley 6.89m 2.60% −221.48k
Dimensional Fund Advisors 6.52m 2.46% +517.81k
Fidelity (FMR) 6.43m 2.43% +2.45m
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 17 March 2026

Ownership

Directors and executive officers, together less than 1%
The Vanguard Group 13.37%
BlackRock, Inc. 8.47%
T. Rowe Price Associates, Inc. 6.74%
Parnassus Investments, LLC 5.18%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Ball Corporation (BALL) Latest News

4 Nov

Impact 3 · · GuruFocus.com
Impact 3 · · Simply Wall St.

3 Nov

Impact 3 · · Moby transcript
Impact 3 · · MarketBeat transcript
Impact 3 · · The Motley Fool transcript
Impact 3 · · Zacks
Impact 3 · · InvestorsHub
Impact 3 · · Zacks
Impact 3 · · PR Newswire

27 Oct

Impact 3 · · Zacks

22 Oct

Impact 3 · · Zacks
Impact 3 · · Trefis

19 Oct

Impact 3 · · PR Newswire
Impact 3 · · Barchart

15 Oct

Impact 3 · · Simply Wall St.

14 Oct

Impact 3 · · Simply Wall St.
Impact 3 · · Simply Wall St.
Impact 3 · · Zacks

14 Sep

Impact 3 ·

11 Sep

Impact 4 · · packaging-gateway.com
Impact 3 ·

13 Aug

Impact 3 ·

11 Aug

Impact 3 · · The Motley Fool transcript

9 Aug

Impact 3 ·
Impact 3 ·

4 Aug

Impact 4 · · Moby
Impact 3 ·
Impact 3 · · MarketBeat transcript
Impact 3 ·
Impact 3 · · InvestorsHub

BALL metrics, ten years each

stockrow.com/BALL · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com