A Business at a Glance
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BALL Corp
BALL
$17.6B
Mkt Cap
$63.84
+2.59%
BALL Corp (BALL) has a current P/E ratio of 19.3, compared to its historical median P/E of 32.6. The stock is currently considered Cheap based on its historical valuation range.
BALL Corp (BALL) has a 5-year average return on invested capital (ROIC) of 9.5%. This is below average and may indicate limited pricing power.
BALL Corp (BALL) has a market capitalization of $17.1B. It is classified as a large-cap stock.
Yes, BALL Corp (BALL) pays a dividend with a trailing twelve-month yield of 1.27%. The company also returns capital through share buybacks, with a buyback yield of 4.49%.
Based on historical P/E analysis, BALL Corp (BALL) appears cheap. The current P/E of 19.3 is 41% below its historical median of 32.6. The estimated fair value CAGR (P/E method) is 36.2%.
BALL Corp (BALL) operates in the Metal Cans industry, within the Industrials sector.
BALL Corp (BALL) reported annual revenue of $13.2 billion in its most recent fiscal year, based on SEC EDGAR filings.
Ball Corporation is one of the world's leading suppliers of aluminum packaging for the beverage, personal care, and household products industries, with 2025 net sales of $13.16 billion. The company's primary product is aluminum beverage containers, complemented by extruded aluminum aerosol containers, recloseable aluminum bottles, and aluminum slugs, all manufactured in facilities globally. Ball operates a business model centered on long-term supply contracts with major multinational beverage, personal care, and household products companies, leveraging high customer retention and a diversified customer base that includes top consumer packaging and beverage brands as well as regional customers. The company's competitive advantages include its scale, sustainability credentials (including a 55% greenhouse gas reduction commitment by 2030 and 74% recycled content in beverage cans as of 2024), and strategic partnerships across its value chain. Ball's geographic footprint spans North and Central America, EMEA, and South America, with operations managed through a disciplined financial strategy focused on delivering comparable diluted earnings per share growth in excess of 10% per annum, maximizing cash flow, and increasing Economic Value Added dollars while returning value to shareholders through buybacks and dividends.
【Strong execution and capacity expansion】 Management expects to deliver 10%+ comparable diluted EPS growth in 2026, supported by resilient global volumes and operational discipline across all segments. North America is anticipated to grow volumes at the low end of the 1%-3% long-term range as the company brings new capacity online at the Millersburg facility in the second half of 2026, with approximately $35 million in startup costs and U.S. domestication expenses anticipated for the year. EMEA is expected to deliver volume growth above the top end of the 3%-5% range with the inclusion of Benepack assets and 2x operating leverage, while South America is projected to achieve 4%-6% volume growth with 2x operating leverage. The company remains focused on shareholder returns, planning to repurchase at least $600 million of shares in 2026 for total capital returns of $800 million, and anticipates free cash flow of greater than $900 million and year-end net debt to comparable EBITDA around 2.7x.
| Metric | Target | Period |
|---|---|---|
| Comparable diluted EPS growth | 10%+ | FY2026 |
| Free cash flow | greater than $900 million | FY2026 |
| Effective tax rate on comparable earnings | slightly above 23% | FY2026 |
| Interest expense | $320 million | FY2026 |
| Adjusted corporate undistributed costs | $175 million | FY2026 |
| Year-end net debt to comparable EBITDA | around 2.7x | FY2026 |
| Share repurchases | at least $600 million | FY2026 |
| Total capital return to shareholders | $800 million | FY2026 |
| North America volume growth | low end of 1%-3% range | FY2026 |
| EMEA volume growth | above the top end of 3%-5% range | FY2026 |
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 13.7B | 13.2B | 11.8B | 12.1B | 15.3B | 13.8B |
| Net Income | 938M | 912M | 4.0B | 707M | 719M | 878M |
| EPS | $3.40 | $3.30 | $13.00 | $2.23 | $2.25 | $2.65 |
| Free Cash Flow | 596M | 788M | -369M | 818M | -1.4B | 34M |
| ROIC | 0.0% | 11.5% | - | 8.1% | 7.8% | 10.6% |
| Gross Margin | - | 19.6% | 20.7% | 19.1% | 16.8% | 19.7% |
| Debt/Equity | 1.36 | 1.30 | 1.03 | 2.56 | 2.99 | 2.14 |
| Dividends/Share | $0.81 | $0.80 | $0.80 | $0.80 | $0.80 | $0.70 |
| Operating Income | 0 | 1.5B | - | 1.3B | 1.2B | 1.3B |
| Operating Margin | 0.0% | 11.1% | - | 10.6% | 7.9% | 9.3% |
| ROE | 16.8% | 16.2% | 68.4% | 18.8% | 20.8% | 24.2% |
| Shares Outstanding | 267M | 276M | 308M | 317M | 320M | 331M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 8.6B | 8.0B | 9.1B | 11.0B | 11.6B | 11.5B | 11.8B | 13.8B | 15.3B | 12.1B | 11.8B | 13.2B | 13.7B |
| Gross Margin | 16.7% | 16.2% | 15.7% | 16.0% | 15.5% | 15.5% | 20.9% | 19.7% | 16.8% | 19.1% | 20.7% | 19.6% | N/A |
| R&D | 27M | 26M | 28M | 27M | 32M | 44M | 47M | 56M | 55M | 55M | N/A | N/A | N/A |
| SG&A | 466M | 450M | 512M | 514M | 478M | 417M | 525M | 593M | 626M | 532M | 647M | 566M | 567M |
| EBIT | 839M | 606M | 463M | 802M | 935M | 932M | 1.0B | 1.3B | 1.2B | 1.3B | N/A | 1.5B | 0 |
| Op. Margin | 9.8% | 7.6% | 5.1% | 7.3% | 8.0% | 8.1% | 8.5% | 9.3% | 7.9% | 10.6% | N/A | 11.1% | 0.0% |
| Net Income | 470M | 281M | 263M | 374M | 454M | 566M | 585M | 878M | 719M | 707M | 4.0B | 912M | 938M |
| Net Margin | 5.5% | 3.5% | 2.9% | 3.4% | 3.9% | 4.9% | 5.0% | 6.4% | 4.7% | 5.9% | 34.0% | 6.9% | 6.9% |
| Non-Recurring | 12M | 3.1M | 145M | 0 | 0 | 0 | 62M | 62M | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 12.2% | 10.6% | 5.7% | 5.3% | 7.4% | 9.5% | 10.3% | 10.6% | 7.8% | 8.1% | N/A | 11.5% | 0.0% |
| ROE | 41.6% | 24.6% | 11.2% | 10.1% | 13.1% | 19.2% | 17.9% | 24.2% | 20.8% | 18.8% | 68.4% | 16.2% | 16.8% |
| ROA | 6.1% | 3.3% | 2.0% | 2.2% | 2.7% | 3.3% | 3.2% | 4.5% | 3.6% | 3.7% | 22.7% | 4.9% | 4.7% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 1.0B | 1.0B | 193M | 1.5B | 1.6B | 1.5B | 1.4B | 1.8B | 301M | 1.9B | 115M | 1.3B | 1.2B |
| Free Cash Flow | 621M | 479M | -413M | 922M | 750M | 950M | 319M | 34M | -1.4B | 818M | -369M | 788M | 596M |
| Owner Earnings | 713M | 700M | -282M | 703M | 789M | 833M | 721M | 1.0B | -410M | 1.1B | -568M | 612M | -9.9B |
| CapEx | 391M | 528M | 606M | 556M | 816M | 598M | 1.1B | 1.7B | 1.7B | 1.0B | 484M | 474M | 554M |
| Maint. CapEx | 281M | 286M | 453M | 729M | 702M | 678M | 668M | 700M | 672M | 686M | 620M | 622M | 11.0B |
| Growth CapEx | 110M | 242M | 153M | 0 | 114M | 0 | 445M | 1.0B | 979M | 359M | 0 | 0 | 0 |
| D&A | 281M | 286M | 453M | 729M | 702M | 678M | 668M | 700M | 672M | 686M | 620M | 622M | 11.0B |
| CapEx/OCF | 38.6% | 52.4% | 312.4% | 37.6% | 52.1% | 38.6% | 77.7% | 98.1% | 548.5% | 56.1% | 420.9% | 37.6% | 48.2% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 73M | 72M | 83M | 129M | 137M | 182M | 198M | 229M | 254M | 252M | 244M | 220M | 217M |
| Dividend Yield | 1.0% | 0.4% | 0.4% | 1.0% | 1.0% | 0.9% | 0.8% | 0.8% | 1.2% | 1.5% | 1.3% | 1.5% | 1.3% |
| Share Buybacks | 397M | 136M | 107M | 103M | 739M | 964M | 57M | 766M | 618M | 3.0M | 1.7B | 1.3B | 767M |
| Buyback Yield | 4.5% | 1.5% | 1.0% | 0.8% | 5.1% | 4.7% | 0.2% | 2.6% | 4.0% | 0.0% | 10.1% | 9.1% | 4.5% |
| Stock-Based Comp | 18M | 21M | 22M | 46M | 75M | 37M | 43M | 40M | 39M | 33M | 63M | 28M | 36M |
| Debt Repayment | 898M | 2.4B | 4.6B | 1.8B | 1.5B | 1.5B | 2.8B | 750M | 3.9B | 2.3B | 3.5B | 5.3B | 5.3B |
| Balance Sheet | |||||||||||||
| Net Debt | 2.9B | 4.7B | 6.8B | 6.4B | 5.5B | 5.7B | 5.1B | 6.6B | 9.3B | 8.2B | 4.3B | 4.6B | 6.9B |
| Cash & Equiv. | 191M | 224M | 597M | 448M | 721M | 1.8B | 1.4B | 563M | 548M | 695M | 885M | 1.2B | 730M |
| Long-Term Debt | 3.0B | 5.0B | 7.3B | 6.5B | 6.5B | 6.3B | 7.8B | 7.7B | 7.5B | 7.5B | 5.3B | 7.0B | 7.0B |
| Debt/Equity | 3.02 | 3.94 | 2.16 | 1.73 | 2.01 | 3.15 | 2.39 | 2.14 | 2.99 | 2.56 | 1.03 | 1.30 | 1.36 |
| Interest Coverage | 4.3 | 2.3 | 2.0 | 2.8 | 3.1 | 2.9 | 3.6 | 4.8 | 3.9 | 2.8 | N/A | 4.7 | 4.7 |
| Equity | 1.0B | 1.3B | 3.4B | 3.9B | 3.5B | 2.9B | 3.3B | 3.6B | 3.5B | 3.8B | 5.9B | 5.4B | 5.6B |
| Total Assets | 7.6B | 9.7B | 16.2B | 17.2B | 16.6B | 17.4B | 18.3B | 19.7B | 19.9B | 19.3B | 17.6B | 19.5B | 19.8B |
| Total Liabilities | 6.3B | 8.4B | 12.6B | 13.1B | 13.0B | 14.3B | 14.9B | 16.0B | 16.4B | 15.5B | 11.7B | 14.1B | 14.2B |
| Intangibles | 137M | 195M | 1.9B | 2.5B | 2.2B | 2.0B | 1.9B | 1.7B | 1.4B | 1.2B | 1.1B | 982M | 947M |
| Retained Earnings | 4.3B | 4.6B | 4.7B | 5.0B | 5.3B | 5.8B | 6.2B | 6.8B | 7.3B | 7.8B | 11.5B | 12.2B | 12.4B |
| Working Capital | 307M | 42M | 684M | -349M | -155M | -693M | 231M | -730M | -1.5B | -1.3B | -6.0M | 626M | 660M |
| Current Assets | 2.3B | 2.2B | 3.7B | 3.8B | 3.9B | 4.9B | 4.7B | 5.2B | 5.5B | 4.9B | 4.8B | 6.1B | 6.2B |
| Current Liabilities | 2.0B | 2.1B | 3.0B | 4.1B | 4.1B | 5.6B | 4.4B | 6.0B | 7.0B | 6.2B | 4.8B | 5.5B | 5.6B |
| Per Share Data | |||||||||||||
| EPS | 1.65 | 0.50 | 0.41 | 1.05 | 1.29 | 1.66 | 1.76 | 2.65 | 2.25 | 2.23 | 13.00 | 3.30 | 3.40 |
| Owner EPS | 2.50 | 1.25 | -0.43 | 1.97 | 2.24 | 2.44 | 2.17 | 3.08 | -1.28 | 3.61 | -1.84 | 2.21 | -37.15 |
| Book Value | 3.63 | 2.23 | 5.29 | 11.06 | 9.83 | 8.65 | 9.85 | 10.95 | 10.83 | 11.89 | 19.01 | 19.62 | 20.94 |
| Cash Flow/Share | 3.55 | 1.79 | 0.30 | 4.15 | 4.45 | 4.54 | 4.31 | 5.31 | 0.94 | 5.88 | 0.37 | 4.57 | 44.82 |
| Dividends/Share | 0.26 | 0.13 | 0.13 | 0.37 | 0.40 | 0.55 | 0.60 | 0.70 | 0.80 | 0.80 | 0.80 | 0.80 | 0.81 |
| Shares Out. | 284.8M | 562.0M | 649.4M | 356.2M | 351.9M | 341.0M | 332.4M | 331.3M | 319.6M | 317.0M | 308.3M | 276.4M | 267.4M |
| Valuation | |||||||||||||
| P/E Ratio | 18.8 | 32.9 | 42.6 | 33.1 | 32.1 | 36.3 | 48.8 | 33.7 | 21.5 | 25.3 | 4.2 | 16.0 | 18.8 |
| P/FCF | 14.3 | 38.4 | N/A | 13.4 | 19.4 | 21.6 | 89.4 | 870.0 | N/A | 21.8 | N/A | 18.5 | 28.6 |
| EV/EBIT | 14.1 | 23.0 | 38.3 | 23.6 | 21.5 | 28.2 | 33.5 | 28.0 | 18.5 | 18.8 | 4.8 | 13.1 | N/A |
| Price/Book | 8.6 | 7.4 | 3.3 | 3.1 | 4.2 | 7.0 | 8.7 | 8.2 | 4.5 | 4.7 | 2.9 | 2.7 | 3.0 |
| Price/Sales | 0.9 | 1.1 | 1.2 | 1.2 | 1.1 | 1.8 | 2.0 | 2.0 | 1.4 | 1.4 | 1.6 | 1.1 | 1.2 |
| FCF Yield | 7.0% | 5.2% | -3.7% | 7.5% | 5.1% | 4.6% | 1.1% | 0.1% | -8.7% | 4.6% | -2.2% | 5.4% | 3.5% |
| Market Cap | 8.9B | 9.3B | 11.2B | 12.4B | 14.6B | 20.6B | 28.5B | 29.6B | 15.5B | 17.9B | 16.9B | 14.6B | 17.1B |
| Avg. Price | 26.80 | 31.10 | 33.27 | 36.07 | 37.87 | 59.79 | 71.64 | 83.73 | 66.96 | 52.03 | 61.80 | 51.55 | 63.84 |
| Year-End Price | 31.07 | 32.77 | 34.48 | 34.72 | 41.42 | 60.31 | 85.84 | 89.28 | 48.47 | 56.36 | 54.98 | 52.66 | 63.84 |
BALL Corp passes 7 of 9 quality checks, indicating strong fundamentals.
BALL Corp trades at 19.3x trailing earnings, compared to its 15-year median P/E of 32.6x, suggesting it is currently Cheap relative to its historical range. On a free-cash-flow basis, the stock trades at 22.4x vs a median of 20.5x. The company's 5-year average ROIC is 9.5% with a gross margin of 19.2%. Total shareholder yield (dividends + buybacks) is 5.8%. At current prices, the estimated annualized return to fair value is -15.6%.
BALL Corp (BALL) has a net profit margin of 6.9%. This is a modest margin.
BALL Corp (BALL) generated $788 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
BALL Corp (BALL) has a debt-to-equity ratio of 1.30. This indicates moderate leverage.
BALL Corp (BALL) reported earnings per share (EPS) of $3.30 in its most recent fiscal year.
BALL Corp (BALL) has a return on equity (ROE) of 16.2%. This indicates the company generates strong returns for shareholders.
BALL Corp (BALL) has a 5-year average gross margin of 19.2%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 18 years of financial data for BALL Corp (BALL), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
BALL Corp (BALL) has a book value per share of $19.62, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects to deliver 10%+ comparable diluted EPS growth in 2026, supported by resilient global volumes and operational discipline across all segments. North America is anticipated to grow volumes at the low end of the 1%-3% long-term range as the company brings new capacity online at the Millersburg facility in the second half of 2026, with approximately $35 million in startup costs and U.S. domestication expenses anticipated for the year. EMEA is expected to deliver volume growth above the top end of the 3%-5% range with the inclusion of Benepack assets and 2x operating leverage, while South America is projected to achieve 4%-6% volume growth with 2x operating leverage. The company remains focused on shareholder returns, planning to repurchase at least $600 million of shares in 2026 for total capital returns of $800 million, and anticipates free cash flow of greater than $900 million and year-end net debt to comparable EBITDA around 2.7x.
Based on recent SEC filings and earnings calls, BALL Corp (BALL) has provided the following forward guidance: Comparable diluted EPS growth: 10%+ (FY2026); Free cash flow: greater than $900 million (FY2026); Effective tax rate on comparable earnings: slightly above 23% (FY2026); Interest expense: $320 million (FY2026); Adjusted corporate undistributed costs: $175 million (FY2026), plus 8 additional metrics.
| EMEA operating leverage |
| 2x |
| FY2026 |
| South America volume growth | low end of 4%-6% range | FY2026 |
| South America operating leverage | 2x | FY2026 |
Comparable diluted EPS growth (FY2026): “we continue to expect to be on track with our algorithm of 10% + comparable diluted EPS growth”
Free cash flow (FY2026): “We anticipate free cash flow of greater than $900 million in 2026.”
Effective tax rate on comparable earnings (FY2026): “Our 2026 full year effective tax rate on comparable earnings is expected to be slightly above 23%.”
Interest expense (FY2026): “Full- year 2026 interest expense is expected to be in the range of $320 million.”
Adjusted corporate undistributed costs (FY2026): “Full- year 2026 reported adjusted corporate undistributed costs recorded in other non-reportable are expected to be in the range of $175 million.”
Year-end net debt to comparable EBITDA (FY2026): “We anticipate year-end 2026 net debt to comparable EBITDA to be around 2.7 x.”
Share repurchases (FY2026): “We will repurchase at least $600 million of shares, which will bring our total capital return to shareholders to $800 million in 2026.”
Total capital return to shareholders (FY2026): “We will repurchase at least $600 million of shares, which will bring our total capital return to shareholders to $800 million in 2026.”
No recent press releases.