olivLaw · US equity research
Ball Corporation BALL
Metal Cans · SIC 3411 · Vertical: Fabricated metal products (SIC 341x)
Ball Corporation is one of the world's leading suppliers of aluminum packaging for beverages, personal care and household products. Its consolidated net sales reached 13.16 billion dollars in fiscal 2025, and in the second quarter of 2026 it reported higher comparable diluted earnings per share, which draws attention to demand for sustainable packaging.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 03 Nov 2026, Ball Corporation (BALL) stock was 63.21 USD (−7.14% on the day), with market capitalisation 16.5 bn USD, P/E 31.8 on diluted EPS of 1.99 USD over the last 12 months, dividend yield 1.27%, beta 0.42, 52-week range 46.41–68.07 USD. Latest reported quarter (Q3 2026): revenue of 4.2 bn USD (+23.9% YoY), net income of -94.0 m USD (−129.3% YoY), diluted EPS -0.36 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 51.8
- neutral
- Bollinger (20, 2)
- 57.11 – 68.52
- in the upper half of the band · %B 0.53 · band width 18.2%
- SMA 50 / 200
- 61.20 / 61.00
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 1.50 / 1.30
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +12.1% | −2.0% | +14.1 pp | — |
| 3 months | −0.8% | −2.2% | +1.3 pp | — |
| 6 months | +10.7% | +4.3% | +6.4 pp | — |
| Year to date | +19.3% | +10.6% | +8.8 pp | — |
| 1 year | +34.2% | +10.5% | +23.7 pp | +26.9% |
| 3 years | +23.4% | +73.7% | −50.3 pp | +14.1% |
| 5 years | −30.9% | +61.7% | −92.6 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.9 bn | 3.1 bn | 3.3 bn | 3.4 bn | 3.3 bn | 3.6 bn | 4.0 bn | 4.2 bn |
| Cost of revenue | 2.3 bn | 2.5 bn | 2.7 bn | 2.7 bn | 2.7 bn | 3.0 bn | 3.3 bn | 3.5 bn |
| Gross profit | 480.0 m | — | — | — | — | — | — | — |
| SG&A | 129.0 m | 149.0 m | 137.0 m | 130.0 m | 150.0 m | 150.0 m | 163.0 m | 141.0 m |
| Depreciation & amortisation | 151.0 m | 150.0 m | 155.0 m | 158.0 m | 159.0 m | 159.0 m | 165.0 m | 163.0 m |
| Interest expense | 65.0 m | 70.0 m | 81.0 m | 85.0 m | 97.0 m | 78.0 m | 79.0 m | 75.0 m |
| Pre-tax income | 7.0 m | 229.0 m | 268.0 m | 391.0 m | 240.0 m | 258.0 m | 278.0 m | -145.0 m |
| Income tax | 15.0 m | 53.0 m | 61.0 m | 76.0 m | 50.0 m | 62.0 m | 65.0 m | -43.0 m |
| Net income | -30.0 m | 179.0 m | 215.0 m | 321.0 m | 200.0 m | 205.0 m | 223.0 m | -94.0 m |
| Diluted EPS | -0.11 | 0.63 | 0.76 | 1.18 | 0.75 ≈ | 0.77 | 0.83 | -0.36 |
| Operating cash flow | 500.0 m | -665.0 m | 332.0 m ≈ | 384.0 m ≈ | 1.2 bn | -777.0 m | 608.0 m ≈ | 189.0 m ≈ |
| Capex | 107.0 m | 81.0 m | 96.0 m ≈ | 127.0 m ≈ | 170.0 m | 161.0 m | 141.0 m ≈ | 157.0 m ≈ |
| Dividends paid | 59.0 m | 57.0 m | 55.0 m ≈ | 54.0 m ≈ | 54.0 m | 54.0 m | 53.0 m ≈ | 52.0 m ≈ |
| Share repurchases | 651.0 m | 555.0 m | 467.0 m ≈ | 84.0 m ≈ | 215.0 m | 1.0 m | 114.0 m ≈ | 157.0 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 55 percentile of its own 44-quarter history (min 4.4, median 30.7, max 63.2; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 11.6 bn | 11.5 bn | 11.8 bn | 13.8 bn | 13.4 bn | 12.1 bn | 11.8 bn | 13.2 bn |
| Revenue YoY | +5.9% | −1.4% | +2.7% | +17.2% | −3.2% | −9.8% | −2.2% | +11.6% |
| Net income | 453.0 m | 536.0 m | 582.0 m | 878.0 m | 732.0 m | 711.0 m | 4.0 bn | 915.0 m |
| Net income YoY | +19.2% | +18.3% | +8.6% | +50.9% | −16.6% | −2.9% | +464.6% | −77.2% |
| Diluted EPS | 1.29 | 1.66 | 1.76 | 2.65 | 2.25 | 2.23 | 13.00 | 3.30 |
| Diluted EPS YoY | +22.9% | +28.7% | +6.0% | +50.6% | −15.1% | −0.9% | +483.0% | −74.6% |
| net % | 3.9% | 4.7% | 4.9% | 6.4% | 5.5% | 5.9% | 34.0% | 7.0% |
| Free cash flow | 750.0 m | 950.0 m | 319.0 m | 34.0 m | -1.4 bn | 818.0 m | -369.0 m | 788.0 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 1.2 bn USD
- Financial debt
- 21.0 m USD
- Net debt
- -1.2 bn USD
- Equity
- 5.4 bn USD
- Total assets
- 19.5 bn USD
- Debt / equity
- 0.00x
- Current ratio
- 1.11x
- ROE
- 16.1%
- ROA
- 4.9%
- FCF margin
- 6.0%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 11.8 bn | 13.8 bn | 13.4 bn | 12.1 bn | 11.8 bn | 13.2 bn | SEC (XBRL)· 19 Feb 2026verified |
| Cost of revenue | 9.3 bn | 11.1 bn | 11.1 bn | 9.8 bn | 9.4 bn | 10.6 bn | SEC (XBRL)· 19 Feb 2026verified |
| Gross profit | 2.5 bn ≈ | 2.7 bn ≈ | 2.3 bn ≈ | 2.3 bn ≈ | 2.4 bn ≈ | 2.6 bn ≈ | SEC (XBRL)· 19 Feb 2026derived |
| Research & development | 47.0 m | 56.0 m | 55.0 m | 55.0 m | — | — | SEC (XBRL)· 20 Feb 2024verified |
| SG&A | 525.0 m | 593.0 m | 555.0 m | 532.0 m | 647.0 m | 566.0 m | SEC (XBRL)· 19 Feb 2026verified |
| Operating income | 1.0 bn | 1.3 bn | 1.2 bn | 1.3 bn | — | — | SEC (XBRL)· 20 Feb 2024verified |
| Depreciation & amortisation | 668.0 m | 700.0 m | 594.0 m | 605.0 m | 611.0 m | 622.0 m | SEC (XBRL)· 19 Feb 2026verified |
| EBITDA | 1.7 bn ≈ | 2.0 bn ≈ | 1.8 bn ≈ | 1.9 bn ≈ | — | — | SEC (XBRL)· 20 Feb 2024derived |
| Interest expense | 316.0 m | 283.0 m | 313.0 m | 460.0 m | 296.0 m | 314.0 m | SEC (XBRL)· 19 Feb 2026verified |
| Pre-tax income | 687.0 m | 1.0 bn | 713.0 m | 614.0 m | 535.0 m | 1.1 bn | SEC (XBRL)· 19 Feb 2026verified |
| Income tax | 99.0 m | 156.0 m | 138.0 m | 146.0 m | 133.0 m | 240.0 m | SEC (XBRL)· 19 Feb 2026verified |
| Net income | 582.0 m | 878.0 m | 732.0 m | 711.0 m | 4.0 bn | 915.0 m | SEC (XBRL)· 19 Feb 2026verified |
| Diluted EPS | 1.76 | 2.65 | 2.25 | 2.23 | 13.00 | 3.30 | SEC (XBRL)· 19 Feb 2026verified |
| Weighted average diluted shares | 332.8 m | 331.6 m | 320.0 m | 317.0 m | 308.2 m | 276.0 m | SEC (XBRL)· 19 Feb 2026verified |
| Dividend per share | 0.60 | 0.70 | 0.80 | 0.80 | 0.80 | 0.80 | SEC (XBRL)· 19 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue; Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 1.4 bn | 563.0 m | 548.0 m | 695.0 m | 885.0 m | 1.2 bn | SEC (XBRL)· 19 Feb 2026verified |
| Receivables | 1.3 bn | 2.0 bn | 2.1 bn | 1.7 bn | 1.7 bn | 2.1 bn | SEC (XBRL)· 19 Feb 2026verified |
| Inventories | 1.4 bn | 1.8 bn | 2.2 bn | 1.5 bn | 1.5 bn | 2.0 bn | SEC (XBRL)· 19 Feb 2026verified |
| Current assets | 4.7 bn | 5.2 bn | 5.5 bn | 4.9 bn | 4.8 bn | 6.1 bn | SEC (XBRL)· 19 Feb 2026verified |
| Goodwill | 4.5 bn | 4.4 bn | 4.2 bn | 4.3 bn | 4.2 bn | 4.4 bn | SEC (XBRL)· 19 Feb 2026verified |
| Intangibles (excl. goodwill) | 1.9 bn | 1.7 bn | 1.4 bn | 1.2 bn | 1.1 bn | 982.0 m | SEC (XBRL)· 19 Feb 2026verified |
| Total assets | 18.3 bn | 19.7 bn | 19.9 bn | 19.3 bn | 17.6 bn | 19.5 bn | SEC (XBRL)· 19 Feb 2026verified |
| Accounts payable | 3.4 bn | 4.8 bn | 4.4 bn | 3.7 bn | 3.4 bn | 4.5 bn | SEC (XBRL)· 19 Feb 2026verified |
| Short-term debt | 17.0 m | 15.0 m | 1.4 bn | 1.1 bn | 361.0 m | 21.0 m | SEC (XBRL)· 19 Feb 2026verified |
| Current liabilities | 4.4 bn | 6.0 bn | 7.0 bn | 6.2 bn | 4.8 bn | 5.5 bn | SEC (XBRL)· 19 Feb 2026verified |
| Total liabilities | 14.9 bn | 16.0 bn | 16.4 bn | 15.5 bn | 11.7 bn | 14.1 bn | SEC (XBRL)· 19 Feb 2026verified |
| Equity | 3.3 bn | 3.7 bn | 3.5 bn | 3.8 bn | 5.9 bn | 5.4 bn | SEC (XBRL)· 19 Feb 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 1.4 bn | 1.8 bn | 301.0 m | 1.9 bn | 115.0 m | 1.3 bn | SEC (XBRL)· 19 Feb 2026verified |
| Capex | 1.1 bn | 1.7 bn | 1.7 bn | 1.0 bn | 484.0 m | 474.0 m | SEC (XBRL)· 19 Feb 2026verified |
| Free cash flow | 319.0 m ≈ | 34.0 m ≈ | -1.4 bn ≈ | 818.0 m ≈ | -369.0 m ≈ | 788.0 m ≈ | SEC (XBRL)· 19 Feb 2026derived |
| Investing cash flow | -1.2 bn | -1.6 bn | -786.0 m | -1.1 bn | 5.0 bn | -656.0 m | SEC (XBRL)· 19 Feb 2026verified |
| Financing cash flow | -602.0 m | -894.0 m | 485.0 m | -662.0 m | -4.8 bn | -344.0 m | SEC (XBRL)· 19 Feb 2026verified |
| Dividends paid | 198.0 m | 229.0 m | 254.0 m | 252.0 m | 244.0 m | 220.0 m | SEC (XBRL)· 19 Feb 2026verified |
| Share repurchases | 57.0 m | 766.0 m | 618.0 m | 3.0 m | 1.7 bn | 1.3 bn | SEC (XBRL)· 19 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
Score: 46 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
03 Nov 2026Source: olivLaw, closing series
Market cap: 16.5 bn USD
Key indicators
Coverage and freshness
Score by group
- Valuation20
- Returns76
- Quality70
- Balance sheet20
- Growth45
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 10.51 – 59.43 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)38.01 – 59.43 (Mid 46.29)WACC 9.1% · starting FCFF 861.1 m USD · terminal value share of EV 73%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): 12.9%
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/Eunavailable · not enough peers
- Dividend discount (DDM)10.51 – 14.14 (Mid 12.06)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 46/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 3.5% | 40 (vs peers) | 10% |
| FCF conversion · Quality | 112.7% | 100 (on a fixed band) | 10% |
| Revenue CAGR 3Y · Growth | -0.5% | 0 (on a fixed band) | 13% |
| EPS CAGR 3Y · Growth | 13.6% | 91 (on a fixed band) | 13% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 1.0x | 20 (on a fixed band) | 7% |
| P/E (TTM) · Valuation | 31.8x | 0 (on a fixed band) | 17% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 3.7% | 46 (on a fixed band) | 13% |
| Shareholder yield (distributions) · Returns | 4.3% | 61 (on a fixed band) | 10% |
| Payout ratio (FCF) · Returns | 35.4% | 100 (on a fixed band) | 7% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial20/100 · 1/3 factors with a value
- Growth45/100 · 2/2 factors with a value
- Quality70/100 · 2/3 factors with a value
- Returns76/100 · 2/2 factors with a value
- Valuation20/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
BALL CORPORATION (BALL). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 13.2 bn USD in 2025; YoY growth 11.6%; net margin 3.5%; ROE 9.6%.
The estimated value range is 24.26–36.78 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 29.18 USD, the price of 63.21 USD leaves a potential of -53.8% (value / price − 1) and a margin of safety of -116.7% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 46/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 112.7%
- EPS CAGR 3Y: 13.6%
- Payout ratio (FCF): 35.4%
What contradicts it
- Revenue CAGR 3Y: -0.5%
- Current ratio: 1.0x
- P/E (TTM): 31.8x
- The price is above the estimated value range
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): ROIC, Net debt / EBITDA, Interest coverage, EV/EBITDA.
Versus the vertical median
Fabricated metal products (SIC 341x) · same industry group (3-digit SIC) · compared with 5 companies
The size band was not applied: too few companies would have remained; the vertical includes much smaller or larger companies.
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| BALLBall Corporation | 16.5 bn | 31.8 | 9.6% | 3.5% | +11.6% | +34% / +23% |
| CCKCrown Holdings, Inc. | 13.5 bn | 17.4 | 26.7% | 5.8% | +4.8% | +29% / +45% |
| SLGNSilgan Holdings Inc | 4.5 bn | 16.7 | 11.7% | 4.0% | +10.7% | +8% / +2% |
| AMBPArdagh Metal Packaging S.A. | 2.8 bn | — | — | 0.2% | +12.0% | +27% / +18% |
| JBDIJBDI Holdings Limited | 55.6 m | 292.0 | 3.1% | 1.4% | +0.9% | +59% / unavailable |
| GEFGreif, Inc. | — | — | 6.5% | 4.4% | +4.3% | +17% / +10% |
1- and 3-year price returns: for BALL from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 36.66 Total return -41% · Per year -41% | 64.97 Total return 4% · Per year 4% | 98.10 Total return 57% · Per year 57% |
| 3 years | 32.07 Total return -47% · Per year -19% | 64.29 Total return 6% · Per year 2% | 107.06 Total return 74% · Per year 20% |
| 5 years | 28.06 Total return -51% · Per year -13% | 63.61 Total return 7% · Per year 1% | 116.85 Total return 93% · Per year 14% |
- Exit P/E± 16.07
- Net margin± 11.25
- Annual revenue growth± 9.70
- Annual dilution± 0.95
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 04 Aug 2026; since then the company filed 10-Q (03 Nov 2026), 8-K (03 Nov 2026 · results).
In brief
Ball Corporation is one of the world's leading suppliers of aluminum packaging for beverages, personal care and household products. Its consolidated net sales reached 13.16 billion dollars in fiscal 2025 1, and in the second quarter of 2026 it reported higher comparable diluted earnings per share, which draws attention to demand for sustainable packaging.
SWOT
Strengths
- Ball is the largest aluminum beverage can producer in North America and holds a strong position in Europe, supported by long-term customer relationships 1.
- Pass-through contracts reduce exposure to aluminum prices, and sustainability efforts are recognized by outside evaluators 1.
- Recent quarterly results show growth in volumes and in comparable earnings per share 3.
Weaknesses
- The company carries significant debt, which limits financial flexibility 1.
- A large share of sales comes from a relatively small number of major customers, raising the risk of losing an important contract 1.
- The company relies on relatively few raw material suppliers, and costs may be hard to pass on to customers in the short term 2.
Opportunities
- If packaging regulation and consumer preferences continue to favor recyclable aluminum, demand could grow 1.
- Efficiency programs and new capacity investments could improve long-term margins 2.
- Acquisitions and share buybacks, which the company mentions, could create value if executed with discipline 1.
Threats
Risks
- Loss of a major customerhigh
A large part of sales depends on a few major customers; losing one could have a significant effect on sales 1.
- High debthigh
The debt level may limit cash flow available for investment and dividends and reduce flexibility if markets change 1.
- Raw material volatilitymedium
Aluminum and other input prices can fluctuate; if pass-through to customers is delayed, short-term profitability could fall 1.
- Currency exposuremedium
Results are sensitive to exchange rates, since much of the asset base and income is in currencies other than the U.S. dollar 1.
- Tariffs and customs disputemedium
The company received notice about the tariff classification of certain aluminum imports; the outcome is uncertain and no reserve has been recorded 1.
Investment thesis
What would need to be true (bull case)
- A leading position in North America and rising demand for recyclable packaging could support long-term revenue 1.
- Second quarter 2026 results and guidance for higher EPS growth could show the strategy is working 3.
- Pass-through clauses for aluminum prices can reduce the effect of volatility on net earnings 2.
What would break the thesis
What to watch
- Third quarter results and the trend in comparable diluted EPSQ3 2026
- Progress on share buybacks and shareholder returns of at least 800 million dollars2026
- Delivery of the free cash flow target above 900 million dollars2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 04 Aug 2026; since then the company filed 10-Q (03 Nov 2026), 8-K (03 Nov 2026 · results).
The business
Ball Corporation, headquartered in Westminster, Colorado, mainly produces aluminum beverage cans and ends, along with extruded aerosol containers, recloseable aluminum bottles and aluminum slugs 1. Its customers are large multinational beverage, personal care and household products companies, with whom it has long-term relationships and many long-term supply contracts 1. The stock is listed on the New York Stock Exchange under the ticker BALL 1.
Sustainability commitments are central: the company aims for a science-based 55 percent reduction in its greenhouse gas footprint by 2030 and net zero carbon emissions before 2050 1. Recycling is an important argument, since the global aluminum recycling rate was 75 percent in 2023 and Ball beverage cans averaged 74 percent recycled content in 2024 1.
Trends
- Rising aluminum pricesmixed
Higher aluminum prices lifted sales but also raised raw material costs; pass-through clauses reduce the effect on net earnings, although timing differences can occur 2.
- Demand for sustainable packagingtailwind
Consumers increasingly choose brands on sustainability credentials and packaging regulation is expanding, which could support demand for recyclable aluminum 1.
- Geopolitical uncertaintyheadwind
Geopolitical conflicts may raise costs for energy, transportation and aluminum and reduce supply, with effects that are hard to predict 2.
- Operational efficiencytailwind
The company is pursuing operational excellence initiatives to reduce fixed and variable costs and improve results in 2027 and beyond 2.
Competitive position
Ball competes with other aluminum packaging producers and with substitutes such as PET bottles, glass bottles and cardboard 1. Competition is based on price, innovation, sustainability, service and quality, and some rivals may have greater financial resources 1.
In Europe and North America PET competition is especially intense, while in Brazil glass beer bottles are a significant rival 1. Pricing pressure could increase if surplus capacity grows 1.
- North American aluminum can producers
The company describes five producers that make substantially all aluminum cans in the U.S., Canada and Mexico, without naming them 1.
- EMEA aluminum can producers
Four companies produce substantially all beverage cans in the region, according to the company 1.
- PET bottle producers
PET bottles for carbonated soft drinks are the most important substitute product in the U.S. and Europe 1.
- Glass bottle producers
Glass bottles remain important in the beer industry and are a substitute the company names 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Quarterly report03 Nov 2026
- Current report03 Nov 2026Results of operations · Financial statements and exhibits
- Current report19 Oct 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Current report09 Sept 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report04 Aug 2026
- Current report04 Aug 2026Results of operations · Financial statements and exhibits
- Quarterly report05 May 2026
- Current report05 May 2026Results of operations · Financial statements and exhibits
- Current report29 Apr 2026Shareholder vote · Financial statements and exhibits
- Proxy statement17 Mar 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Ball Corporation · 19 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Ball Corporation · 04 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Ball Corporation · 04 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.