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World's largest maker of aluminum beverage cans, supplying beer, soft-drink and seltzer brands globally.
World's largest maker of aluminum beverage cans, supplying beer, soft-drink and seltzer brands globally.
Beverage cans carry the group, bought mostly under multi-year supply contracts that pass aluminium cost through to the customer. Since selling its aerospace business to BAE Systems in 2024 it is a pure packaging maker.
Moat: narrow (scale, switching costs, distribution). Large-scale can plants sited near customer fill lines under long-term contracts.
Headquarters: Westminster, Colorado, US · Founded: 1880 · Employees: 16,000
Size Ball (BALL) is a United States Materials company (Containers/Packaging) with a market value of $17.2B, the 545th largest of 3,117 United States companies the cockpit tracks. Shares closed at $65.92 on 6 Nov 2026.
Performance Over six months the shares gained 12.7%, against +2.1% for the median peer and -1.1% for the United States market (cap-weighted) — 6th highest of 18 in its peer set.
Growth Revenue grew 20.6% over the last twelve months (peer median +4.5%); the operating margin is 11.2% (peer median 9.5%).
Valuation It trades at 15.3× forward earnings against a peer median of 18.7× (6th cheapest of 17).
Price implies For today's price to make sense, revenue must grow about 6% a year for seven years (Req g). Recent delivered growth is +2%, so the hurdle is +4 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 2.1 points above its cost of capital (8.3% WACC).
Credit Ball has 6 bonds outstanding ($5.46B), rated BB+ by the agencies and trading like BBB- at a weighted spread of 119 bp.
Short interest Short interest is 3.4% of the free float (15 Oct 2026).
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $15.3B | $13.2B | $11.8B | $12.0B | $15.3B |
| Revenue growth | — | +12% | -2% | -21% | — |
| Gross profit | $2.24B | $2.00B | $1.84B | $1.72B | $1.75B |
| EBITDA | $2.35B | $2.30B | $1.61B | $1.86B | $1.69B |
| Net income | $531M | $915M | -$626M | $727M | $719M |
| Free cash flow | $602M | $788M | -$369M | $818M | -$1.35B |
| Capital expenditure | $629M | $474M | $484M | $1.04B | $1.65B |
| Total debt | $7.64B | $7.37B | $6.02B | $8.94B | $9.39B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Ball BALL | $17.2B | +13% | +21% | 11% | 15.3× | 6.4% |
| Crown CCK | $13.1B | +20% | +14% | 12% | 13.9× | -4.7% |
| Ardagh Metal Packaging AMBP | $2.82B | +18% | +17% | 5% | 17.0× | 4.1% |
| Silgan SLGN | $4.34B | +2% | +4% | 10% | 10.2× | -5.8% |
| Toyo Seikan 5901.T | $3.69B | +34% | +6% | 6% | 20.4× | -2.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | BALL | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +12.9% | +6.4% | 4th highest of 18 |
| 6-month return | +12.7% | +2.1% | 6th highest of 18 |
| Distance from 52-week high | -5.2% | -17.1% | 6th highest of 18 |
| Revenue growth (TTM) | +20.6% | +4.5% | 3rd highest of 18 |
| Operating margin | 11.2% | 9.5% | 8th highest of 18 |
| Forward P/E | 15.3× | 18.7× | 6th cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | 6.4% | 4.3% | 6th most demanding of 16 |
| Growth delivered (Del g) | +2.3% | +7.5% | 2nd lowest of 16 |
| Hurdle (Req g minus delivered) | +4.1 pp | -7.0 pp | 4th most demanding of 16 |
| ROIC minus cost of capital | +2.1 pp | +1.6 pp | 8th highest of 18 |
| EV / EBITDA | 10.4× | 9.4× | 5th most expensive of 13 |
| Net debt / EBITDA | 3.1× | 3.2× | 7th least indebted of 14 |
| Bond spread | 119 bp | 91 bp | 3rd widest of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ball BALL | United States | $17.2B | +13% | +21% | 11% | 15.3× | 6.4% | +2.3% |
| Amcor AMCR | United States | $20.7B | +14% | +57% | 9% | n/a | 5.8% | +12.8% |
| Packaging Corporation of America PKG | United States | $22.2B | +12% | +12% | 13% | 17.8× | 4.3% | +6.2% |
| Crown CCK | United States | $13.1B | +20% | +14% | 12% | 13.9× | -4.7% | +5.7% |
| Smurfit Westrock SW | United States | $23.1B | +7% | +1% | 5% | 15.1× | 13.5% | +26.2% |
| CCL Industries CCL-B.TO | Canada | $11.8B | +17% | +5% | 15% | 18.7× | 1.3% | +7.9% |
| Owens Corning OC | United States | $9.59B | 0% | -11% | 14% | 15.3× | 3.6% | +7.4% |
| AptarGroup ATR | United States | $9.03B | +18% | +9% | 12% | 23.4× | 4.3% | +5.2% |
| Stora Enso STEAV.HE | Finland | $8.58B | 0% | -1% | -4% | 18.4× | n/a | n/a |
| Yunnan Energy New Material (Group) 002812.SZ | China | $7.55B | -38% | +50% | 17% | 19.8× | 7.8% | +26.1% |
| SIG SIGN.SW | Switzerland | $7.07B | +23% | -5% | 5% | 20.5× | 18.4% | +9.4% |
| China International Marine Containers (Group) 000039.SZ | China | $6.19B | -23% | 0% | 4% | 18.7× | -9.2% | +10.7% |
| Jiangsu Sidike New Materials Science & Technology 300806.SZ | China | $5.33B | -17% | +12% | 4% | 154.7× | n/a | n/a |
| Shenzhen YUTO Packaging Technology 002831.SZ | China | $5.19B | 0% | +1% | 11% | 20.8× | -0.4% | +7.9% |
| Sonoco Products SON | United States | $4.99B | -2% | +4% | 10% | 9.0× | -1.9% | +7.5% |
| Mondi MNDI.L | United Kingdom | $4.69B | +5% | +5% | 4% | 36.1× | 15.4% | +2.1% |
| Silgan SLGN | United States | $4.34B | +2% | +4% | 10% | 10.2× | -5.8% | +5.7% |
| Oji 3861.T | Japan | $4.31B | -3% | 0% | 2% | 20.6× | 20.4% | +6.5% |
Ball has 6 bonds outstanding with $5.46B face value. The agencies rate it BB+; its bonds trade like BBB-. Weighted yield 5.45%, a spread of 119 bp over government bonds.