NYSE: BALL
Ball
Materials · Metal Cans
52-week range
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$16.5B
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| Period | Market cap |
|---|---|
| FY2016, ended Dec 31, 2016 | $13.1B |
| FY2017, ended Dec 31, 2017 | $13.3B |
| FY2018, ended Dec 31, 2018 | $15.4B |
| FY2019, ended Dec 31, 2019 | $21.1B |
| FY2020, ended Dec 31, 2020 | $30.6B |
| FY2021, ended Dec 31, 2021 | $0 |
| FY2022, ended Dec 31, 2022 | $16.1B |
| FY2023, ended Dec 31, 2023 | $18.2B |
| FY2024, ended Dec 31, 2024 | $15.6B |
| FY2025, ended Dec 31, 2025 | $14.1B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $16.5B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$14.3B
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| Period | Revenue |
|---|---|
| FY2016, ended Dec 31, 2016 | $9.06B |
| FY2017, ended Dec 31, 2017 | $11.0B |
| FY2018, ended Dec 31, 2018 | $11.6B |
| FY2019, ended Dec 31, 2019 | $11.5B |
| FY2020, ended Dec 31, 2020 | $11.8B |
| FY2021, ended Dec 31, 2021 | $13.8B |
| FY2022, ended Dec 31, 2022 | $13.4B |
| FY2023, ended Dec 31, 2023 | $12.1B |
| FY2024, ended Dec 31, 2024 | $11.8B |
| FY2025, ended Dec 31, 2025 | $13.2B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $14.3B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2016, ended Dec 31, 2016 | $263M | −$413M |
| FY2017, ended Dec 31, 2017 | $374M | $922M |
| FY2018, ended Dec 31, 2018 | $454M | $750M |
| FY2019, ended Dec 31, 2019 | $566M | $950M |
| FY2020, ended Dec 31, 2020 | $585M | $319M |
| FY2021, ended Dec 31, 2021 | $878M | $34.0M |
| FY2022, ended Dec 31, 2022 | $719M | −$1.35B |
| FY2023, ended Dec 31, 2023 | $707M | $818M |
| FY2024, ended Dec 31, 2024 | $4.01B | −$369M |
| FY2025, ended Dec 31, 2025 | $912M | $788M |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $947M | $827M |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$491M
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| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Dec 31, 2016 | $597M |
| FY2017, ended Dec 31, 2017 | $448M |
| FY2018, ended Dec 31, 2018 | $721M |
| FY2019, ended Dec 31, 2019 | $1.80B |
| FY2020, ended Dec 31, 2020 | $1.37B |
| FY2021, ended Dec 31, 2021 | $563M |
| FY2022, ended Dec 31, 2022 | $548M |
| FY2023, ended Dec 31, 2023 | $695M |
| FY2024, ended Dec 31, 2024 | $885M |
| FY2025, ended Dec 31, 2025 | $1.21B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $491M |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$7.22B
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| Period | Total debt |
|---|---|
| FY2016, ended Dec 31, 2016 | $7.53B |
| FY2017, ended Dec 31, 2017 | $6.97B |
| FY2018, ended Dec 31, 2018 | $6.73B |
| FY2019, ended Dec 31, 2019 | $7.82B |
| FY2020, ended Dec 31, 2020 | $7.80B |
| FY2021, ended Dec 31, 2021 | $7.74B |
| FY2022, ended Dec 31, 2022 | $8.95B |
| FY2023, ended Dec 31, 2023 | $8.57B |
| FY2024, ended Dec 31, 2024 | $5.67B |
| FY2025, ended Dec 31, 2025 | $7.01B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $7.22B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Down 24.4% since 2016.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.265M
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| Period | Shares outstanding |
|---|---|
| FY2016, ended Dec 31, 2016 | 350M |
| FY2017, ended Dec 31, 2017 | 350M |
| FY2018, ended Dec 31, 2018 | 334M |
| FY2019, ended Dec 31, 2019 | 326M |
| FY2020, ended Dec 31, 2020 | 328M |
| FY2021, ended Dec 31, 2021 | 0 |
| FY2022, ended Dec 31, 2022 | 314M |
| FY2023, ended Dec 31, 2023 | 316M |
| FY2024, ended Dec 31, 2024 | 283M |
| FY2025, ended Dec 31, 2025 | 266M |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | 265M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.Net: $391M more bought back than issued
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| Period | Bought back | Paid to employees | Sold for cash | Used in acquisitions |
|---|---|---|---|---|
| FY2016, ended Dec 31, 2016 | $107M | $35.0M | $48.0M | $2.40B |
| FY2017, ended Dec 31, 2017 | $103M | $46.0M | $27.0M | — |
| FY2018, ended Dec 31, 2018 | $739M | $75.0M | $28.0M | — |
| FY2019, ended Dec 31, 2019 | $964M | $37.0M | $19.0M | — |
| FY2020, ended Dec 31, 2020 | $57.0M | $43.0M | −$18.0M | — |
| FY2021, ended Dec 31, 2021 | $766M | $40.0M | — | — |
| FY2022, ended Dec 31, 2022 | $618M | $39.0M | — | — |
| FY2023, ended Dec 31, 2023 | $3.00M | $33.0M | — | — |
| FY2024, ended Dec 31, 2024 | $1.71B | $63.0M | — | — |
| FY2025, ended Dec 31, 2025 | $1.32B | $28.0M | — | — |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $414M | $23.0M | — | — |
Revenue (TTM)
$14.3B
+15.6% YoY
Net income (TTM)
$947M
+70.3% YoY
Cash
$491M
+65.9% YoY
Total debt
$7.22B
+2.7% YoY
Valuation
At current price- Market Cap
- $17.6B
- P/E
- 18.6×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 1.2×
- Price / Book
- 3.1×
- EV / EBITDA
- 11.4×
Growth
Trailing 12 months- Revenue (TTM)
- $14.3B
- Revenue Growth YoY
- 15.6%
- Revenue CAGR 3Y
- −0.5%
- Revenue CAGR 5Y
- 2.2%
- EPS Growth YoY
- 60.6%
- Net Income Growth YoY
- 70.3%
Profitability
Trailing 12 months- Gross Margin
- —
- Operating Margin
- —
- Net Margin
- 6.6%
- FCF Margin
- 5.8%
- Return on Equity
- 17.3%
Earnings
Trailing 12 months- Net Income
- $947M
- EPS (diluted)
- $3.50
- EBITDA
- $2.13B
- Operating Income
- —
Balance Sheet
As of Jun 30, 2026- Cash and cash equivalents
- $491M
- Total Debt
- $7.22B
- Net Debt
- $6.73B
- Total Assets
- $20.1B
- Total Liabilities
- $14.3B
- Shareholders' Equity
- $5.75B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $1.43B
- Capital Expenditure
- $599M
- Free Cash Flow
- $827M
Dividends and risk
Last 12 months- Dividend Yield
- 1.2%
- Dividend / Share
- $0.80
- Beta (5Y)
- 0.95
Every ratio is calculated from the company’s reported figures.
Strength
Revenue is up 15.6% year over year, at $14.3B.
Note
Net margin of 6.6% over the last 12 months.
Watch
Net debt is 3.2× EBITDA ($6.73B), a heavy load.
Note
Free cash flow of $827M, 5.8% of revenue.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-K for the fiscal year ended Dec 31, 2025 · filed Feb 19, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2024 · 10-K65Mildly positive
10-K for the fiscal year ended Dec 31, 2024
Filed Feb 20, 2025 · Read the filing on EDGAR
- Net earnings jumped to $4,008 million from $707 million, almost entirely from selling the aerospace business, not from the ongoing can business.
- Sales slipped 2% to $11,795 million on lower prices and lost volume, while all three can segments increased their comparable operating earnings.
- Sale proceeds cut debt to $5.69 billion from $8.62 billion and funded $1.71 billion of buybacks, with about $1.3 billion more planned for 2025.
- Operating cash flow fell to $115 million after $766 million of sale-related taxes and less use of receivable sales; a $233 million charge hit the cups business.
Business momentum
Improving
“Net earnings attributable to Ball Corporation in 2024 increased $3.30 billion compared to 2023”
Outlook
Positive
“The overall global aluminum packaging industry is growing and is expected to continue to grow in the medium to long term.”
Financial stress
Low
“Given our cash flow projections and unused credit facilities that are available until June 2027, our liquidity is strong and is expected to meet our ongoing cash and debt service requirements.”
Tone against the previous report
About the same
Red flags
- Medium
Large write-down
“The amounts in 2024 primarily include a $233 million noncash charge to adjust the carrying value of the aluminum cups business to its estimated fair value less cost to sell and facility shutdown costs.”
Positives
Debt cut by about a third using aerospace sale proceeds
“Total interest-bearing debt of $5.69 billion and $8.62 billion was outstanding at December 31, 2024 and 2023, respectively.”
Lower interest costs after debt repayment
“Interest expense was $293 million in 2024 compared to $460 million in 2023.”
Large shareholder returns continue, with more buybacks planned for 2025
“The company plans to continue capital return to shareholders via an estimated $1.3 billion in share repurchases in 2025.”
Concerns
Operating cash flow dropped sharply, from $1,863 million to $115 million, on sale taxes and reduced factoring
“partially offset by $766 million of income taxes paid related to the sale of the aerospace business and the company’s decision to reduce its use of factoring by $476 million”
North America, the largest segment, saw lower prices and volumes
“Segment sales in 2024 were $344 million lower compared to 2023 primarily due to decreases of $193 million from price/mix and $150 million from lower volume.”
Restructuring and closure charges more than tripled to $420 million
“Business consolidation and other activities resulted in charges of $420 million in 2024 compared to charges of $133 million in 2023.”
New risks since the previous report
Restrictions on PFAS chemicals in can coatings could force ongoing conversion costs
“which may require the company to continue to incur costs to convert existing coatings to accommodate PFAS-free coatings”
Tariffs and trade actions could raise raw material costs
“Increases in raw material costs, including potential increases due to tariffs, sanctions, or other trade actions, could have a material adverse effect on our business, financial condition or results of operations.”
Biggest risks named
- Reliance on a few major customers and on beverage cans
- Raw material costs, tariffs and delayed cost recovery
- Competition, excess capacity and substitute packaging
- Significant debt of $5.69 billion and access to credit markets
- Currency and geopolitical risks, including Argentina, Egypt and Russia-Ukraine
Artificial intelligence in this business: Not mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | +6 | |
| Outlook | +3 | |
| Tone against the previous report | 0 | |
| Financial stress | 0 | |
| Red flags | −3 | |
| New risks | −1 | |
| Score | 65 | |
Written by AI (Claude Opus 5.5) from the report’s text. 12 of 12 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-K | Feb 19, 2026 | Pro | |||
| 10-K | Feb 20, 2025 | 65 | Improving | 1 medium | |
| 10-K | Feb 20, 2024 | 56 | Weakening | 1 minor | |
| 10-K | Feb 21, 2023 | 45 | Mixed | 1 medium1 minor | |
| 10-K | Feb 16, 2022 | 76 | Strong improvement | None | |
| 10-K | Feb 17, 2021 | 68 | Improving | None | |
| 10-K | Feb 19, 2020 | 67 | Improving | 1 minor | |
| 10-K | Feb 22, 2019 | 74 | Strong improvement | None | |
| 10-K | Mar 1, 2018 | 76 | Strong improvement | None | |
| 10-K | Mar 2, 2017 | 45 | Mixed | 1 serious |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q2 FY2026 (period ended Jun 30, 2026), filed Aug 4, 2026. View filings on SEC EDGAR