Ball Corporation

BALL · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Valuation
Market cap	$14,195	$16,452	$18,136	$16,054	$31,383	$30,483	$21,412	$15,854	$13,258	$11,880	$9,987	$9,443	$7,539	$6,922	$5,904	$6,149	$4,851	$3,988	$4,553	$4,506	$4,280	$4,877	$3,329	$2,885	$1,939	$989	$1,414	$1,394	$1,067	$798	$819	$932	$868	$935	$981	$594	$747	$655	$825	$811	$710
Enterprise value	$19,995	$21,652	$26,078	$24,972	$39,035	$37,274	$27,740	$21,966	$19,886	$18,921	$14,824	$12,628	$10,920	$10,228	$9,041	$8,847	$7,138	$6,075	$6,761	$6,807	$5,814	$6,346	$4,986	$4,613	$2,929	$2,116	$2,595	$2,741	$1,866	$1,219	$1,295	$1,431	$1,513	$1,479	$1,483	$1,065	$1,055	$872	$956	$925	$793
P/E (TTM) at period end	15.57×	4.10×	25.65×	22.33×	35.74×	52.11×	37.83×	34.92×	35.45×	45.17×	35.54×	20.09×	18.53×	17.47×	13.30×	13.14×	12.50×	12.48×	16.19×	13.67×	15.73×	16.14×	14.48×	18.48×	–	14.50×	13.57×	83.95×	18.29×	32.99×	–	12.77×	–	13.52×	14.82×	11.83×	20.87×	20.02×	12.44×	13.78×	13.88×
P/S (TTM) at period end	1.08×	1.39×	1.50×	1.20×	2.27×	2.59×	1.87×	1.36×	1.21×	1.31×	1.25×	1.10×	0.89×	0.79×	0.68×	0.81×	0.72×	0.58×	0.61×	0.68×	0.74×	0.90×	0.67×	0.75×	0.53×	0.27×	0.38×	0.47×	0.45×	0.37×	0.40×	0.36×	0.36×	0.43×	0.43×	0.44×	0.61×	0.61×	0.78×	0.76×	0.64×
P/B at period end	2.62×	2.81×	4.81×	4.64×	8.65×	9.31×	7.26×	4.58×	3.36×	3.46×	7.98×	9.14×	6.16×	6.21×	4.84×	4.05×	3.06×	3.67×	3.39×	3.87×	5.02×	4.49×	4.12×	5.85×	3.85×	1.45×	2.05×	2.24×	1.68×	1.32×	1.40×	1.51×	1.55×	1.55×	1.62×	1.30×	1.94×	1.55×	2.08×	2.22×	2.15×
EV / EBITDA (TTM)	9.74×	15.76×	13.89×	13.81×	19.61×	22.31×	17.23×	13.42×	12.99×	20.66×	16.62×	11.27×	9.97×	9.53×	7.94×	8.59×	7.96×	7.31×	7.31×	8.92×	8.13×	8.59×	7.48×	10.02×	23.05×	5.75×	5.70×	8.09×	7.53×	6.87×	6.87×	4.84×	13.66×	6.03×	5.72×	7.66×	9.60×	–	–	–	–
EV / Sales (TTM)	1.52×	1.84×	2.16×	1.87×	2.83×	3.16×	2.42×	1.89×	1.81×	2.09×	1.85×	1.47×	1.29×	1.17×	1.05×	1.16×	1.06×	0.89×	0.90×	1.03×	1.01×	1.17×	1.00×	1.20×	0.79×	0.58×	0.70×	0.91×	0.78×	0.56×	0.63×	0.55×	0.62×	0.68×	0.65×	0.78×	0.86×	0.81×	0.91×	0.86×	0.72×
Returns
Return on equity	16.8%	68.4%	18.8%	20.8%	24.2%	17.9%	19.2%	13.1%	9.5%	7.7%	22.5%	45.5%	33.2%	35.6%	36.4%	30.8%	24.5%	29.4%	21.0%	28.3%	31.9%	27.8%	28.5%	31.7%	(19.7%)	10.0%	15.1%	2.7%	9.2%	4.0%	(3.2%)	11.8%	(11.7%)	11.4%	10.9%	11.0%	9.3%	7.8%	16.7%	16.1%	15.5%
Return on invested capital	10.0%	5.2%	8.3%	7.9%	9.7%	8.5%	8.9%	6.9%	5.2%	4.4%	8.6%	15.3%	12.8%	12.6%	13.3%	12.6%	11.6%	11.7%	13.5%	10.5%	15.1%	13.7%	12.8%	9.0%	(1.6%)	7.2%	9.6%	7.7%	5.9%	5.3%	6.9%	9.4%	(0.3%)	7.7%	8.5%	6.6%	6.4%	5.4%	13.1%	13.0%	13.6%
Dividend yield	1.5%	1.5%	1.4%	1.6%	0.7%	0.6%	0.8%	0.9%	1.0%	0.7%	0.7%	0.8%	1.0%	0.9%	0.8%	0.6%	0.8%	0.9%	0.9%	0.9%	1.0%	0.8%	0.8%	0.7%	1.1%	2.2%	1.6%	1.6%	2.1%	2.9%	2.8%	2.5%	4.7%	4.0%	3.8%	5.1%	3.7%	–	–	–	–
Financial health
Current ratio	1.11×	1.00×	0.79×	0.78×	0.88×	1.05×	0.88×	0.96×	0.92×	1.23×	1.02×	1.15×	1.28×	1.39×	1.25×	1.67×	1.58×	1.16×	1.22×	1.21×	1.04×	1.25×	1.07×	1.15×	1.38×	1.47×	1.34×	1.29×	0.95×	1.50×	1.19×	1.40×	1.53×	1.72×	1.44×	1.68×	1.71×	1.81×	1.55×	2.00×	1.95×
Debt / equity	1.29×	0.97×	2.27×	2.59×	2.13×	2.38×	2.65×	1.95×	1.77×	2.19×	4.02×	2.95×	2.90×	2.86×	2.27×	1.80×	1.64×	2.22×	1.76×	2.10×	1.86×	1.53×	2.09×	4.02×	2.11×	1.67×	1.73×	2.18×	1.22×	0.96×	0.82×	0.80×	1.14×	0.90×	0.81×	1.07×	0.83×	0.55×	0.37×	0.34×	0.30×
Effective tax rate	21.3%	24.9%	23.8%	19.4%	15.5%	14.4%	11.7%	29.2%	32.1%	(100.8%)	13.6%	23.2%	25.6%	28.9%	30.5%	29.0%	29.8%	32.1%	25.4%	28.5%	28.0%	33.0%	31.3%	35.6%	8.5%	37.6%	38.4%	21.6%	35.4%	35.5%	33.7%	38.0%	39.5%	36.5%	37.8%	28.2%	26.3%	32.0%	41.6%	46.6%	44.7%
Share count
Diluted shares outstanding	276	308	317	320	332	333	340	352	357	323	282	285	298	316	337	367	380	388	411	420	439	455	457	461	439	362	616	487	510	501	480	480	459	423	412	353	352	376	373	369	368

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Revenue and gross profit
Revenue	$14,326	$13,161	$11,795	$12,062	$13,372	$13,811	$11,781	$11,474	$11,635	$10,983	$9,061	$7,997	$8,570	$8,468	$8,736	$8,631	$7,630	$6,710	$6,826	$7,475	$6,622	$5,751	$5,440	$4,977	$3,859	$3,686	$3,665	$3,707	$2,996	$2,388	$2,184	$2,046	$2,595	$2,441	$2,178	$2,267	$1,357	$1,222	$1,073	$1,054	$1,070	$1,106
Cost of revenue	($11,657)	($10,583)	($9,354)	($9,754)	($11,122)	($11,085)	($9,323)	($9,203)	($9,329)	($8,717)	($7,296)	($6,460)	($6,903)	($6,875)	($7,174)	($7,081)	($6,254)	($5,518)	($5,700)	($6,480)	($5,807)	($4,992)	($4,623)	($4,093)	($3,230)	($3,142)	($3,067)	($3,111)	($2,538)	($2,004)	($1,914)	($1,758)	($2,184)	($2,042)	($1,776)	($1,835)	($1,112)	($1,028)	($867)	($817)	($828)	($882)
Gross profit	$2,669	$2,578	$2,441	$2,308	$2,250	$2,726	$2,458	$1,775	$1,798	$1,757	$1,420	$1,295	$1,434	$1,339	$1,319	$1,281	$1,132	$1,192	$1,127	$995	$814	$760	$817	$884	$628	$544	$598	$596	$458	$385	$271	$288	$410	$399	$402	$432	$246	$194	$206	$237	$242	$224
Operating expenses
Research and development	–	–	–	($55)	($55)	($56)	($47)	($44)	($32)	($27)	($28)	($26)	($27)	($31)	($27)	($22)	($22)	($26)	($33)	($27)	($22)	($25)	($26)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	($593)	($566)	($647)	($532)	($555)	($593)	($525)	($417)	($478)	($514)	($512)	($450)	($466)	($419)	($386)	($381)	($357)	($309)	($259)	($324)	($281)	($234)	($268)	($222)	($166)	($136)	($139)	($141)	($119)	($137)	($93)	($100)	($114)	($288)	($157)	($173)	($106)	($84)	($111)	($76)	($81)	($83)
Total operating expenses	($1,201)	($1,147)	($1,678)	($1,035)	($1,036)	($1,435)	($1,455)	($843)	($863)	($955)	($957)	($689)	($595)	($544)	($528)	($444)	($368)	($539)	($546)	($351)	($304)	($258)	($293)	($423)	($318)	($569)	($388)	($304)	($264)	($254)	($187)	($178)	($242)	($404)	($263)	($281)	($160)	($134)	($155)	($118)	($125)	($122)
Total costs and expenses	($12,858)	($11,730)	($11,032)	($10,789)	($12,158)	($12,520)	($10,778)	($10,542)	($10,700)	($10,181)	($8,598)	($7,391)	($7,731)	($7,673)	($7,945)	($7,794)	($6,865)	($6,057)	($6,246)	($6,831)	($6,111)	($5,250)	($4,916)	($4,516)	($3,548)	($3,712)	($3,456)	($3,415)	($2,802)	($2,258)	($2,100)	($1,936)	($2,426)	($2,446)	($2,038)	($2,116)	($1,272)	($1,163)	($1,023)	($935)	($954)	($1,005)
Operating income	$1,468	$1,431	$763	$1,273	$1,214	$1,291	$1,003	$932	$935	$802	$463	$606	$839	$795	$790	$837	$765	$654	$581	$644	$510	$501	$524	$461	$311	($25)	$209	$292	$194	$130	$84	$110	$169	($6)	$140	$151	$86	$60	$50	$119	$117	$102
Earnings
EBITDA	$2,109	$2,053	$1,374	$1,878	$1,808	$1,991	$1,671	$1,610	$1,637	$1,531	$916	$892	$1,120	$1,095	$1,073	$1,138	$1,030	$897	$830	$925	$763	$715	$739	$666	$460	$127	$368	$455	$339	$248	$177	$188	$296	$111	$245	$259	$139	$110	–	–	–	–
Interest income	$38	$30	$68	$36	$14	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	($320)	($314)	($293)	($460)	($313)	($270)	($275)	($317)	($301)	($285)	($229)	($260)	($193)	($212)	($195)	($177)	($158)	($117)	($138)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Pre-tax income	$1,167	$1,128	$535	$614	$713	$1,008	$687	$608	$633	$514	$125	$346	$646	$584	$596	$660	$606	$537	$443	$377	$462	$379	$435	$320	$235	($114)	$114	$169	$41	$90	$20	$78	$118	($54)	$99	$106	$70	$49	$48	$114	$110	$93
Income tax expense	($253)	($240)	($133)	($146)	($138)	($156)	($99)	($71)	($185)	($165)	$126	($47)	($150)	($150)	($172)	($201)	($176)	($160)	($142)	($96)	($132)	($106)	($143)	($100)	($84)	$10	($43)	($65)	($9)	($32)	($7)	($26)	($45)	$21	($36)	($40)	($20)	($13)	($15)	($47)	($51)	($41)
Net income	$947	$912	$4,008	$707	$719	$878	$585	$566	$454	$374	$263	$281	$470	$407	$396	$444	$468	$388	$320	$281	$330	$272	$302	$230	$156	($99)	$68	$104	$17	$58	$24	($19)	$73	($65)	$69	$66	$50	$36	$33	$66	$59	$51
Per share
Diluted EPS (GAAP)	$3.52	$3.30	$13.00	$2.23	$2.25	$2.65	$1.76	$1.66	$1.29	$1.05	$0.81	$1.00	$1.65	$1.36	$1.25	$1.31	$1.27	$1.02	$0.825	$0.69	$0.79	$0.62	$0.66	$0.50	$0.34	($0.23)	$0.1695	$0.17	$0.0341	$0.11	$0.0425	($0.0387)	$0.14	($0.14)	$0.16	$0.16	$0.14	$0.10	$0.0869	$0.18	$0.16	$0.14
Basic EPS (GAAP)	$3.53	$3.33	$13.12	$2.25	$2.27	$2.69	$1.79	$1.71	$1.32	$1.07	$0.83	$1.02	$1.70	$1.40	$1.28	$1.34	$1.29	$1.03	$0.835	$0.70	$0.80	$0.63	$0.68	$0.52	$0.35	($0.23)	$0.1788	$0.18	$0.0341	$0.12	$0.0438	($0.0393)	$0.15	($0.14)	$0.16	$0.16	$0.14	$0.10	$0.0869	$0.18	$0.16	$0.14
Basic shares outstanding	267	274	305	315	316	326	326	331	345	350	317	275	277	292	309	331	361	375	383	405	413	431	443	447	451	439	343	575	487	483	487	473	473	459	423	412	353	352	376	373	369	368
Margins
Gross margin	18.6%	19.6%	20.7%	19.1%	16.8%	19.7%	20.9%	15.5%	15.5%	16.0%	15.7%	16.2%	16.7%	15.8%	15.1%	14.8%	14.8%	17.8%	16.5%	13.3%	12.3%	13.2%	15.0%	17.8%	16.3%	14.8%	16.3%	16.1%	15.3%	16.1%	12.4%	14.1%	15.8%	16.3%	18.5%	19.1%	18.1%	15.9%	19.2%	22.5%	22.6%	20.2%
Operating margin	10.2%	10.9%	6.5%	10.6%	9.1%	9.3%	8.5%	8.1%	8.0%	7.3%	5.1%	7.6%	9.8%	9.4%	9.0%	9.7%	10.0%	9.7%	8.5%	8.6%	7.7%	8.7%	9.6%	9.3%	8.1%	(0.7%)	5.7%	7.9%	6.5%	5.5%	3.8%	5.4%	6.5%	(0.2%)	6.4%	6.7%	6.3%	4.9%	4.7%	11.3%	10.9%	9.2%
Net margin	6.6%	6.9%	34.0%	5.9%	5.4%	6.4%	5.0%	4.9%	3.9%	3.4%	2.9%	3.5%	5.5%	4.8%	4.5%	5.1%	6.1%	5.8%	4.7%	3.8%	5.0%	4.7%	5.6%	4.6%	4.0%	(2.7%)	1.9%	2.8%	0.6%	2.4%	1.1%	(0.9%)	2.8%	(2.7%)	3.2%	2.9%	3.7%	2.9%	3.0%	6.3%	5.5%	4.6%

Analyst consensus

Buy23 analysts

Bearish · 0 · Hold · 6 · Bullish · 17

Earnings history

	EPS	Estimate
Q3 2024	$0.91	$0.86	Beat
Q4 2024	$0.84	$0.81	Beat
Q1 2025	$0.76	$0.70	Beat
Q2 2025	$0.90	$0.87	Beat
Q3 2025	$1.02	$1.02	Match
Q4 2025	$0.91	$0.90	Beat
Q1 2026	$0.94	$0.84	Beat
Q2 2026	$1.03	$0.99	Beat

Peers

Company overview

IPO dateJul 13, 1972

CEORonald J. Lewis

Employees16,000

SectorConsumer Cyclical

IndustryPackaging & Containers

CountryUS

ExchangeNew York Stock Exchange

Websitewww.ball.com

Ball Corporation serves as a global provider of aluminum packaging solutions for a broad spectrum of industries, including beverages, personal care items, and household goods. Its extensive reach covers the United States, Brazil, and numerous international markets. The company's operations are strategically divided into four primary business segments: Beverage Packaging for North and Central America; Beverage Packaging for Europe, the Middle East, and Africa; Beverage Packaging for South America; and its dedicated Aerospace division. Within its packaging enterprise, Ball is a key manufacturer and supplier of aluminum beverage containers, catering to producers of carbonated soft drinks, beer, energy drinks, and other liquid products. Its product line also encompasses extruded aluminum aerosol containers, innovative reclosable aluminum bottles, aluminum cups, and aluminum slugs. Beyond packaging, Ball Corporation maintains a substantial presence in the aerospace sector. Here, it develops advanced spacecraft, intricate sensors and instruments, sophisticated radio frequency systems, and other cutting-edge technologies. These specialized offerings support civil, commercial, and national security aerospace initiatives. Its aerospace portfolio includes defense hardware, tactical antenna and video solutions, space hardware for both operational and civilian applications, and comprehensive systems engineering services. The company also undertakes the design, production, and rigorous testing of satellites, remote sensing devices, and associated ground control hardware and software, in addition to providing launch vehicle integration and satellite operational support. Furthermore, Ball supplies highly specialized components to government agencies and their prime contractors, such as target identification, warning, and attitude control systems; cryogenic systems with integrated sensor cooling devices; star trackers; and fast-steering mirrors. Established in 1880, Ball Corporation's corporate headquarters are located in Westminster, Colorado.

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