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BALL

Ball Corporation

BALL

Ball Corporation • NYSE
$49.53 ▼ -0.20% (-0.10)
Market Cap $13.27 B
52w High $62.96
52w Low $43.51
Dividend Yield 0.80%
P/E 19.27
Volume 1.01M
Outstanding Shares 267.99M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $3.373B ▲ $126M ▼ $321M ▲ 9.517% ▲ $1.19 ▲ $642M ▲
Q2-2025 $3.321B ▲ $305M ▲ $212M ▲ 6.384% ▲ $0.77 ▲ $507M ▲
Q1-2025 $3.102B ▲ $111M ▼ $179M ▲ 5.77% ▲ $0.63 ▲ $449M ▲
Q4-2024 $2.878B ▼ $278M ▲ $-32M ▼ -1.112% ▼ $-0.11 ▼ $225M ▼
Q3-2024 $3.081B $86M $197M 6.394% $0.65 $447M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $576M ▲ $18.721B ▲ $13.269B ▼ $5.446B ▲
Q2-2025 $302M ▼ $18.608B ▲ $13.331B ▲ $5.206B ▼
Q1-2025 $456M ▼ $18.039B ▲ $12.47B ▲ $5.501B ▼
Q4-2024 $893M ▼ $17.628B ▼ $11.698B ▼ $5.862B ▼
Q3-2024 $1.444B $18.824B $12.069B $6.683B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $322M ▲ $384M ▲ $-183M ▲ $52M ▲ $274M ▲ $257M ▲
Q2-2025 $215M ▲ $332M ▲ $-184M ▲ $-308M ▼ $-149M ▲ $236M ▲
Q1-2025 $179M ▲ $-665M ▼ $-207M ▼ $396M ▲ $-464M ▲ $-746M ▼
Q4-2024 $-30M ▼ $500M ▼ $-178M ▼ $-792M ▼ $-513M ▼ $393M ▼
Q3-2024 $199M $610M $-23M $-502M $96M $493M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Metal Beverage Packaging Americas and Asia
Metal Beverage Packaging Americas and Asia
 $1.29Bn ▲$1.46Bn ▲$1.61Bn ▲$1.64Bn ▲
Metal Beverage Packaging Europe
Metal Beverage Packaging Europe
 $830.00M ▲$900.00M ▲$1.05Bn ▲$1.06Bn ▲
Metal Food and Household Products Packaging Americas
Metal Food and Household Products Packaging Americas
 $560.00M ▲$540.00M ▼$480.00M ▼$510.00M ▲
Other
Other
 $0 ▲$190.00M ▲$200.00M ▲$0 ▼

Five-Year Company Overview

Income Statement

Income Statement Ball’s sales have been roughly flat to slightly down over the past few years after a strong run-up, suggesting the business is in more of a consolidation than a high-growth phase. Profitability at the operating level has been fairly steady, which indicates the core packaging operations remain resilient despite cost pressures and softer volume in some end markets. The huge jump in reported profit in the most recent year is almost certainly tied to one‑off gains from selling the aerospace division, not from the day‑to‑day packaging business. Stripping that out, earnings look solid but not spectacular, and future profit growth will likely depend more on efficiency and mix improvements than on rapid revenue expansion.

Balance Sheet

Balance Sheet The balance sheet has become cleaner and stronger, with debt meaningfully reduced and shareholders’ equity built up in the latest year, helped by the asset sale. Overall assets have edged down a bit as the company has streamlined and refocused on packaging, which is normal after a major divestiture. Cash on hand is reasonable but not excessive, so Ball still needs its business to generate healthy cash flow rather than relying on its cash balance. The improved leverage profile gives the company more flexibility to handle downturns and invest in selective growth, but it still operates in a capital‑intensive industry that requires ongoing spending on plants and equipment.

Cash Flow

Cash Flow Ball’s cash flow picture is mixed and more volatile than the income statement might suggest. In some recent years, the business generated strong cash from operations, but the latest year shows unusually weak operating cash, likely driven by working capital swings or timing issues. Free cash flow has bounced between positive and negative as heavy investment in new capacity and efficiency projects has soaked up cash. Capital spending appears to be coming down from a peak, which should help future free cash flow, but the inconsistency in recent years is a risk point that calls for attention to execution and cost discipline.

Competitive Edge

Competitive Edge Ball holds a leading global position in aluminum packaging, backed by large‑scale manufacturing, broad geographic reach, and deep relationships with major beverage and consumer brands. Its focus on infinitely recyclable aluminum and sustainability gives it a strong story with customers who are under pressure to reduce plastic use and improve their environmental footprint. Advanced customization and printing capabilities help customers differentiate their products on the shelf, which can strengthen switching costs. Key risks include intense competition from other big can makers, the cyclical nature of beverage and consumer demand, exposure to metal and energy costs, and reliance on a relatively small group of large customers.

Innovation and R&D

Innovation and R&D Innovation is a central part of Ball’s strategy, with clear emphasis on making aluminum packaging lighter, more sustainable, and more visually distinctive. Products like the Ball Aluminum Cup and lightweight can technologies showcase both environmental benefits and cost efficiencies for customers. Digital printing and other design tools allow brands to run targeted, short‑run campaigns that are hard for traditional packaging to match. The company is also exploring new categories such as personal and home care, and watching emerging areas like smart packaging, which could open additional avenues for growth if they gain traction. The main uncertainty is how quickly these newer concepts can scale and translate into meaningful, steady profits.

Summary

Ball today is a focused aluminum packaging company with a strong market position, a clear sustainability angle, and a record of meaningful product and process innovation. Financially, it shows steady underlying profitability but only modest sales growth, with a recent one‑time profit boost from selling its aerospace business and some choppiness in cash generation. The balance sheet is healthier than a few years ago, giving it more breathing room, while ongoing capital needs and variable cash flows remain important watch points. Strategically, the company is leaning into its strengths—scale, sustainability, and customization—while cautiously expanding into new end markets. Future performance will hinge on translating these strategic advantages into more consistent cash flow, managing input cost volatility, and maintaining strong partnerships with its largest customers in what remains a competitive, cyclical industry.

NEWS

November 25, 2025 · 4:15 PM UTC

Ball Corporation Announces Completion of Credit Facilities

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November 10, 2025 · 9:00 AM UTC

Ball Corporation Announces Board and Leadership Transitions

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November 6, 2025 · 4:30 PM UTC

Ball Corporation to Present at Baird's 2025 Global Industrial Conference

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November 6, 2025 · 8:00 AM UTC

Alcoa, Ball and Unilever Partner to Launch the First Use of ELYSIS® Carbon-Free Smelting Technology in Consumer Personal and Home Care Packaging

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November 4, 2025 · 6:00 AM UTC

Ball Reports Third Quarter 2025 Results

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