Ball Corp. (BALL) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 26	$0.9	$0.91	+1.1%	—	—	—
Q4 25	$3.41	$1.16	-66.0%	—	—	—
Q3 25	$0.87	$0.9	+3.4%	—	—	—
Q2 25	$0.7	$0.76	+8.6%	—	—	—
Q1 25	$0.81	$0.84	+3.7%	—	—	—
Q4 24	$0.86	$0.91	+5.8%	—	—	—
Q3 24	$0.7	$0.74	+5.7%	—	—	—
Q2 24	$0.54	$0.68	+25.9%	—	—	—
Q1 24	$0.75	$0.78	+4.0%	—	—	—
Q4 23	$0.81	$0.83	+2.5%	—	—	—
Q3 23	$0.61	$0.61	0.0%	—	—	—
Q2 23	$0.51	$0.69	+35.3%	—	—	—
Q1 23	$0.55	$0.44	-20.0%	—	—	—
Q4 22	$0.8	$0.75	-6.3%	—	—	—
Q3 22	$0.9	$0.82	-8.9%	—	—	—
Q2 22	$0.83	$0.77	-7.2%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$3.33	—	—	$13.2B	—
FY24	—	$13.1	—	—	$11.8B	—
FY23	—	$2.25	—	—	$14B	—
FY22	—	$2.27	—	—	$15.3B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$9.1B	$11B	$11.6B	$11.5B	$11.8B	$13.8B	$15.3B	$14B	$11.8B	$13.2B
YoY change	+13.3%	+21.2%	+5.94%	-1.38%	+2.68%	+17.2%	+11.1%	-8.6%	-15.9%	+11.6%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	9.1B	11B	11.6B	11.5B	11.8B	13.8B	15.3B	14B	11.8B	13.2B
Cost of revenue	7.3B	8.7B	9.3B	9.2B	9.3B	11.1B	12.8B	11.4B	9.4B	10.6B
Gross profit	1.8B	2.3B	2.3B	2.3B	2.5B	2.7B	2.6B	2.7B	2.4B	2.6B
Gross margin	19.5%	20.6%	19.8%	19.8%	20.9%	19.7%	16.8%	19%	20.7%	19.6%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	512M	514M	478M	417M	525M	593M	626M	558M	647M	566M
Operating expenses	512M	514M	478M	417M	525M	593M	626M	558M	647M	566M
Operating income	800M	1B	1.1B	1.2B	1.3B	1.4B	1.3B	1.4B	1.2B	1.4B
Operating margin	8.83%	9.31%	9.68%	10.2%	10.7%	10.4%	8.37%	10.2%	10%	10.6%
Non-operating income, net	-446M	-224M	-192M	-251M	-303M	-155M	-89M	-153M	-423M	22M
Pretax income	125M	514M	633M	608M	687M	1B	884M	814M	535M	1.1B
Income tax	-126M	165M	185M	71M	99M	156M	159M	123M	133M	240M
Net income	266M	380M	453M	536M	582M	878M	732M	711M	4B	915M
Net margin	2.94%	3.46%	3.89%	4.67%	4.94%	6.36%	4.77%	5.07%	34%	6.95%
EBITDA	1.3B	1.8B	1.8B	1.9B	1.9B	2.1B	2B	2.1B	1.9B	2B
EPS	0.71	1.14	1.32	1.71	1.79	2.69	2.27	2.25	13.1	3.33
Diluted EPS	0.69	1.12	1.29	1.66	1.76	2.65	2.25	2.23	13	3.3

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	3.1B	3.4B	2.9B	3B	3.1B	2.9B	3.1B	3.3B	3.4B	3.3B	3.6B	4B
Cost of revenue	2.5B	2.7B	2.3B	2.4B	2.4B	2.3B	2.5B	2.7B	2.7B	2.7B	3B	3.3B
Gross profit	599M	699M	591M	602M	657M	591M	604M	648M	678M	648M	646M	697M
Gross margin	19.3%	20.5%	20.6%	20.3%	21.3%	20.5%	19.5%	19.4%	20.1%	19.4%	17.9%	17.4%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	133M	130M	211M	139M	142M	129M	149M	137M	130M	150M	150M	163M
Operating expenses	133M	130M	211M	139M	142M	129M	149M	137M	130M	150M	150M	163M
Operating income	314M	392M	222M	311M	365M	311M	305M	356M	390M	339M	337M	369M
Operating margin	10.1%	11.5%	7.72%	10.5%	11.8%	10.8%	9.85%	10.7%	11.5%	10.1%	9.35%	9.23%
Non-operating income, net	-29M	-92M	-28M	-61M	-85M	-249M	-13M	-12M	78M	-31M	-11M	-22M
Pretax income	175M	191M	101M	200M	227M	7M	229M	268M	391M	240M	258M	278M
Income tax	45M	44M	27M	49M	42M	15M	53M	61M	76M	50M	62M	65M
Net income	204M	154M	3.7B	159M	199M	-30M	179M	215M	321M	200M	205M	223M
Net margin	6.56%	4.53%	128.3%	5.37%	6.46%	-1.04%	5.78%	6.44%	9.5%	5.98%	5.69%	5.58%
EBITDA	499M	569M	389M	481M	529M	472M	462M	516M	556M	508M	506M	544M
EPS	0.64	0.49	11.7	0.51	0.65	-0.11	0.63	0.77	1.18	0.75	0.77	0.83
Diluted EPS	0.64	0.49	11.6	0.51	0.65	-0.11	0.63	0.76	1.18	0.75	0.77	0.83

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	15.9B	21.4B	30.4B	31.4B	16.2B	18.1B	16.8B	—	15.1B
Enterprise value	—	—	21.9B	27.7B	37.1B	39B	24.6B	26B	21.6B	—	22.1B
Shares outstanding	316.5M	350.3M	344.8M	331.1M	326.3M	326M	316.4M	314.8M	305.5M	274.3M	274.3M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	35	39.9	52.2	35.7	22.1	25.5	4.2	—	16.3
P/S	—	—	1.36	1.87	2.58	2.27	1.05	1.29	1.43	—	1.05
P/B	—	—	4.45	7.09	9.11	8.52	4.59	4.72	2.84	—	2.62
EV/EBITDA	—	—	12	14.9	19.2	18.3	12.6	12.3	11.6	—	10.7
EV/Sales	—	—	1.88	2.41	3.15	2.82	1.6	1.85	1.83	—	1.55
Earnings yield	—	—	2.86%	2.5%	1.91%	2.8%	4.52%	3.93%	23.8%	—	6.14%
FCF yield	—	—	4.73%	4.44%	1.05%	0.11%	-8.34%	4.52%	-2.19%	—	2.51%
PEG	—	—	—	—	—	—	—	—	—	—	2.09

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	19.5%	20.6%	19.8%	19.8%	20.9%	19.7%	16.8%	19%	20.7%	19.6%	17.4%
Operating margin	8.83%	9.31%	9.68%	10.2%	10.7%	10.4%	8.37%	10.2%	10%	10.6%	9.23%
Net margin	2.94%	3.46%	3.89%	4.67%	4.94%	6.36%	4.77%	5.07%	34%	6.95%	6.61%
ROE	7.51%	9.39%	12.7%	17.8%	17.4%	23.8%	20.8%	18.5%	67.7%	16.9%	17.2%
ROA	1.64%	2.21%	2.74%	3.09%	3.19%	4.45%	3.68%	3.68%	22.8%	4.69%	4.63%
ROIC	7.64%	6.57%	8.33%	11.2%	10.8%	10.7%	8.84%	10.3%	8.29%	9.75%	8.99%
Return on tangible assets	12.6%	16%	14%	11.9%	10.5%	11.6%	8.51%	8.77%	56.3%	10.4%	9.99%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.23	0.92	0.96	0.88	1.05	0.88	0.78	0.79	1	1.11	1.07
Quick ratio	0.75	0.54	0.65	0.65	0.75	0.58	0.47	0.54	0.69	0.75	0.66
Debt / equity	2.13	1.72	1.89	2.67	2.43	2.21	2.54	2.23	0.96	1.29	1.31
Debt / assets	0.47	0.41	0.41	0.46	0.44	0.41	0.45	0.44	0.32	0.36	0.36
Net debt / EBITDA	5.53	3.72	3.29	3.38	3.48	3.56	4.29	3.73	2.56	2.84	3.18
Interest coverage	1.55	2.8	3.1	2.92	3.5	4.73	3.83	2.77	2.83	4.59	4.65
Effective tax rate	0%	32.1%	29.2%	11.7%	14.4%	15.5%	18%	15.1%	24.9%	21.3%	21.7%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	28.6	31.4	33.7	34.7	36.1	42.4	48.5	44.6	38.6	48	53.6
EPS (basic)	0.71	1.14	1.32	1.71	1.79	2.69	2.27	2.25	13.1	3.33	3.33
EPS (diluted)	0.69	1.12	1.29	1.66	1.76	2.65	2.25	2.23	13	3.3	3.49
Book value per share	11.2	11.6	10.3	9.12	10.2	11.3	11.1	12.2	19.4	19.8	21.7
FCF per share	-1.3	2.63	2.18	2.87	0.98	0.1	-4.27	2.6	-1.21	2.87	3.1
Cash per share	1.89	1.28	2.09	5.43	4.19	1.73	1.73	2.21	2.9	4.42	1.89
Capex per share	—	—	—	—	—	—	—	—	—	1.73	2.24

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	—	—	—	—	—	—	—	—	3.6%	4.18%
Capex / operating cash flow	—	—	—	—	—	—	—	—	—	37.6%	42%
Payout ratio	31.2%	33.9%	30.2%	34%	34%	26.1%	34.7%	35.4%	6.08%	24%	22.9%
Dividend yield	—	—	0.86%	0.85%	0.65%	0.73%	1.57%	1.39%	1.45%	—	1.4%

Yield

1.4%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.20

ex-dividend Sep 1, 2026

Payout ratio

23%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 1, 2026	$0.20
Jun 1, 2026	$0.20
Mar 2, 2026	$0.20

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$3.1B	$3.4B	$2.9B	$3B	$3.1B	$2.9B	$3.1B	$3.3B	$3.4B	$3.3B	$3.6B	$4B
YoY change	-21.3%	-4.09%	-3.59%	-3.52%	-0.93%	-15.4%	+7.76%	+12.8%	+9.64%	+16.2%	+16.3%	+19.7%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	597M	448M	721M	1.8B	1.4B	563M	548M	695M	885M	1.2B
Receivables	1.2B	1.2B	802M	647M	825M	1.3B	1.4B	1.2B	1.3B	1.4B
Inventory	1.4B	1.5B	1.3B	1.3B	1.4B	1.8B	2.2B	1.6B	1.5B	2B
Total current assets	3.7B	3.8B	3.9B	4.9B	4.7B	5.2B	5.5B	4.9B	4.8B	6.1B
Property, plant & equipment	3.1B	3.2B	3.2B	3.3B	4B	4.8B	5.3B	5.4B	4.7B	5.1B
Goodwill & intangibles	14.1B	14.8B	13.3B	12.8B	12.7B	12.1B	11.3B	11.2B	10.5B	10.7B
Total assets	16.2B	17.2B	16.6B	17.4B	18.3B	19.7B	19.9B	19.3B	17.6B	19.5B
Accounts payable	2B	2.8B	3.1B	3.1B	3.4B	4.8B	4.4B	3.8B	3.4B	4.5B
Short-term debt	222M	453M	219M	1.5B	80M	95M	1.4B	1.1B	361M	21M
Total current liabilities	3B	4.1B	4.1B	5.6B	4.4B	6B	7B	6.2B	4.8B	5.5B
Long-term debt	7.3B	6.5B	6.5B	6.5B	8B	8.1B	7.5B	7.5B	5.3B	7B
Total liabilities	12.6B	13.1B	13B	14.3B	14.9B	16B	16.4B	15.5B	11.7B	14.1B
Shareholders' equity	3.5B	4B	3.6B	3B	3.3B	3.7B	3.5B	3.8B	5.9B	5.4B
Total debt	7.5B	7B	6.7B	8.1B	8.1B	8.2B	8.9B	8.6B	5.7B	7B
Net debt	6.9B	6.5B	6B	6.3B	6.7B	7.6B	8.4B	7.9B	4.8B	5.8B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	—	—	—	—	—	—	—	—	568M	1.2B	730M	491M
Receivables	—	—	—	—	—	—	—	—	1.6B	1.4B	1.7B	2.1B
Inventory	—	—	—	—	—	—	—	—	1.9B	2B	2.2B	2.5B
Total current assets	—	—	—	—	—	—	—	—	5.3B	6.1B	6.2B	6.7B
Property, plant & equipment	—	—	—	—	—	—	—	—	5B	5.1B	5.2B	5.1B
Goodwill & intangibles	—	—	—	—	—	—	—	—	10.8B	10.7B	10.7B	10.6B
Total assets	—	—	—	—	—	—	—	—	18.7B	19.5B	19.8B	20.1B
Accounts payable	—	—	—	—	—	—	—	—	3.5B	4.5B	3.8B	4.5B
Short-term debt	—	—	—	—	—	—	—	—	344M	21M	786M	692M
Total current liabilities	—	—	—	—	—	—	—	—	4.8B	5.5B	5.6B	6.2B
Long-term debt	—	—	—	—	—	—	—	—	6.9B	7B	7B	6.5B
Total liabilities	—	—	—	—	—	—	—	—	13.3B	14.1B	14.2B	14.3B
Shareholders' equity	—	—	—	—	—	—	—	—	5.5B	5.4B	5.6B	5.8B
Total debt	—	—	—	—	—	—	—	—	7.2B	7B	7.8B	7.2B
Net debt	—	—	—	—	—	—	—	—	6.6B	5.8B	7.1B	6.7B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	266M	380M	453M	536M	582M	878M	732M	711M	4B	915M
Depreciation & amortization	453M	729M	702M	678M	668M	700M	672M	686M	620M	622M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—
Change in working capital	-499M	329M	167M	237M	-190M	121M	-823M	267M	-598M	-117M
Operating cash flow	207M	1.5B	1.6B	1.5B	1.3B	2B	526M	1.8B	4.7B	1.3B
Capital expenditure	—	—	—	—	—	—	—	—	—	-474M
Investing cash flow	-677M	11M	610M	176M	-68M	87M	865M	-8M	5.5B	-557M
Dividends paid	-83M	-129M	-137M	-182M	-198M	-229M	-254M	-252M	-244M	-220M
Share repurchases	-107M	-103M	-739M	-964M	-75M	-766M	-618M	-3M	-1.7B	-1.3B
Financing cash flow	-387M	-1.1B	-1B	-46M	-602M	-847M	485M	-662M	-4.8B	-344M
Net change in cash	-857M	411M	1.2B	1.7B	678M	1.2B	1.9B	1.1B	5.4B	361M
Free cash flow	-413M	922M	750M	950M	319M	34M	-1.4B	818M	-369M	788M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	204M	154M	3.7B	159M	199M	-30M	179M	215M	321M	200M	205M	223M
Depreciation & amortization	173M	177M	167M	152M	150M	151M	150M	155M	158M	159M	159M	165M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	—	—	—	—	—	—	—	—	—	—	—	—
Operating cash flow	394M	447M	4.1B	352M	496M	393M	220M	332M	384M	1.2B	-777M	608M
Capital expenditure	—	—	—	—	—	—	—	-96M	-127M	-170M	-161M	-141M
Investing cash flow	0	-12M	5.4B	18M	94M	-71M	-126M	-172M	-160M	-72M	-306M	-138M
Dividends paid	-63M	-63M	-63M	-62M	-60M	-59M	-57M	-55M	-54M	-54M	-54M	-53M
Share repurchases	0	0	-182M	-483M	-396M	-651M	-555M	-467M	-84M	-215M	-1M	-114M
Financing cash flow	-154M	-1.2B	-3B	-518M	-502M	-792M	396M	-308M	52M	-484M	605M	-160M
Net change in cash	240M	-717M	6.6B	-148M	88M	-470M	490M	-148M	276M	655M	-478M	310M
Free cash flow	544M	521M	-1.4B	146M	493M	393M	-746M	236M	257M	1B	-938M	467M

Date	Ratio
May 17, 2017	2:1
Feb 16, 2011	2:1
Aug 24, 2004	2:1
Feb 25, 2002	2:1
Oct 2, 1985	2:1
Oct 4, 1982	2:1

Ball Corp. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history