Ball Corporation (BALL)
Materials · $15.9B market cap · SEC CIK 0000009389
fundamentals score out of 100
Next reports on Nov 2, 2026, with analysts expecting $1.08 in earnings per share.
The case for BALL
- Revenue growing 15.6% year over year.
- Earnings per share up 82.3%.
- Reasonably priced at 16.8× earnings.
- A PEG of 0.20: a P/E of 16.8× is low for EPS growing 82%.
- Return on equity of 17%.
- Pays a modest 1.5% dividend.
The case against
- Weakest against its peers: net margin of 7% is thinner than 56% of Materials companies.
- Its weakest area is profitability (45/100): return on equity 17%, net margin 6.6%, gross margin 19%.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Materials companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 76 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 65 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 45 |
| Momentumhow the price has behaved lately | 65 |
| Stabilityhow violently it moves, what it owes and what it pays you | 47 |
- Each factor except momentum is half fixed thresholds, half rank among the 26 Materials companies.
Key numbers
| Price / earnings | 16.8× |
|---|---|
| Price / book | 2.89× |
| Price / sales | 1.1× |
| Revenue growth (YoY) | +15.6% |
| EPS growth (YoY) | +82.3% |
| Gross margin | 19% |
| Operating margin | 10% |
| Net margin | 7% |
| Return on equity | 17% |
| Debt / equity | 1.26× |
| Current ratio | 1.07 |
| Dividend yield | 1.47% |
| Beta | 0.97 |
| 52-week range | $44.83 – $68.29 |
| Position in that range | 65% of the way up |
| 3-month return | +3.4% |
| 1-year return | +22.6% |
Five years of financials, as filed
Pulled from Ball Corporation's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $13.2B | $11.8B | $12.1B | $13.4B | $13.8B |
| Operating income | — | — | $1.3B | $1.2B | $1.3B |
| Operating cash flow | $1.3B | $115M | $1.9B | $301M | $1.8B |
| Capital expenditure | $474M | $484M | $1.0B | $1.7B | $1.7B |
| Total assets | $19.5B | $17.6B | $19.3B | $19.9B | $19.7B |
| Total liabilities | $14.1B | $11.7B | $15.5B | $16.4B | $16.0B |
| Shareholder equity | $5.4B | $5.9B | $3.8B | $3.5B | $3.6B |
| Cash | $1.2B | $885M | $695M | $548M | $563M |
| Free cash flow | $788M | -$369M | $818M | -$1.4B | $34.0M |
| Operating margin | — | — | 10.6% | 9.1% | 9.3% |
| Diluted shares | 276M | 308M | 317M | 320M | 332M |
Share count is down 16.8% over 4 years. Buybacks have been shrinking the pie.
What Ball Corporation says it does
_944236"> Item 1. Business ​ Ball Corporation and its consolidated subsidiaries (collectively, Ball, the company, we or our) is one of the world’s leading suppliers of aluminum packaging for the beverage, personal care and household products industries. The company was organized in 1880 and incorporated in the state of Indiana, United States of America (U.S.), in 1922. Our sustainable, aluminum packaging products are produced for a variety of end uses and are manufactured in facilities around the world. In 2025, our total consolidated net sales were $13.16 billion. ​ Our largest product line is aluminum beverage containers and we also produce extruded aluminum aerosol containers, recloseable aluminum bottles across multiple consumer categories and aluminum slugs. ​ We sell our aluminum packaging products globally to large multinational beverage, personal care and household products companies with which we have…
Risk factors BALL lists in its 10-K
- Beverage Packaging, North and Central America, Segment
- Beverage Packaging, South America, Segment
- If we do not effectively manage change and growth, our business could be adversely affected
- Our business, operating results and financial condition are subject to particular risks in certain regions of the world
- The loss of a key customer, or an adverse change in its requirements, could have a significant negative impact on our sales
- We have a significant level of debt that could have important consequences for our business and any investment in our securities
- We face competitive risks from many sources that may negatively impact our profitability
- We are subject to competition from alternative products, which could result in lower profits and reduced cash flows
- Our packaging businesses have a narrow product range, and our business would suffer if usage of our products decreased or if decreases occur in the demand for the beverages and other goods filled in our products
- Our business, financial condition, cash flows and results of operations are subject to risks resulting from broader geographic operations
- We are exposed to exchange rate fluctuations
- We are vulnerable to fluctuations and disruptions in the supply and price of raw materials, including increases in tariffs on imported goods
- Net earnings and net assets could be materially affected by an impairment of goodwill
- Restricted access to capital markets could adversely affect our short-term liquidity and prevent us from fulfilling our obligations under the notes issued pursuant to our bond indentures