Ball Financials

BALL

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Financial Profile 44/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

Ball's revenue declined 2.2% year-over-year, from $12.1B to $11.8B. This contraction results in a growth score of 22/100.

Leverage

Ball carries a low D/E ratio of 0.91, meaning only $0.91 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 78/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Ball's current ratio of 1.00 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 20/100, which could limit financial flexibility.

Cash Flow

While Ball generated $115.0M in operating cash flow, capex of $484.0M consumed most of it, leaving -$369.0M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns

100

Ball earns a strong 68.5% return on equity (ROE), meaning it generates $68 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100. This is up from 18.9% the prior year.

Piotroski F-Score Strong

7/9

Ball passes 7 of 9 financial strength tests. 3 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality

0.03x

For every $1 of reported earnings, Ball generates $0.03 in operating cash flow ($115.0M OCF vs $4.0B net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

This page shows Ball (BALL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Export CSV

Key Financial Metrics

Revenue

$11.8B

YoY-2.2%

5Y CAGR+0.6%

10Y CAGR+3.2%

Ball generated $11.8B in revenue in fiscal year 2024. This represents a decrease of 2.2% from the prior year.

EBITDA

N/A

Free Cash Flow

-$369.0M

YoY-145.1%

Ball generated -$369.0M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 145.1% from the prior year.

Net Income

$4.0B

YoY+464.6%

5Y CAGR+49.6%

10Y CAGR+23.2%

Ball reported $4.0B in net income in fiscal year 2024. This represents an increase of 464.6% from the prior year.

EPS (Diluted)

$13.00

YoY+483.0%

5Y CAGR+50.9%

10Y CAGR+14.7%

Ball earned $13.00 per diluted share (EPS) in fiscal year 2024. This represents an increase of 483.0% from the prior year.

Cash & Debt

$885.0M

YoY+27.3%

5Y CAGR-13.2%

10Y CAGR+16.6%

Ball held $885.0M in cash against $5.3B in long-term debt as of fiscal year 2024.

Dividends Per Share

$0.80

YoY+0.0%

5Y CAGR+7.8%

10Y CAGR+4.4%

Ball paid $0.80 per share in dividends in fiscal year 2024. This represents an increase of 0.0% from the prior year.

Shares Outstanding

N/A

Gross Margin

20.7%

YoY+1.6pp

5Y CAGR+5.2pp

10Y CAGR+4.0pp

Ball's gross margin was 20.7% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 1.6 percentage points from the prior year.

Operating Margin

N/A

Net Margin

34.0%

YoY+28.1pp

5Y CAGR+29.4pp

10Y CAGR+28.2pp

Ball's net profit margin was 34.0% in fiscal year 2024, showing the share of revenue converted to profit. This is up 28.1 percentage points from the prior year.

Return on Equity

68.5%

YoY+49.6pp

5Y CAGR+50.3pp

10Y CAGR+20.3pp

Ball's ROE was 68.5% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 49.6 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

$1.7B

YoY+56966.7%

5Y CAGR+12.2%

10Y CAGR+15.7%

Ball spent $1.7B on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents an increase of 56966.7% from the prior year.

Capital Expenditures

$484.0M

YoY-53.7%

5Y CAGR-4.1%

10Y CAGR+2.2%

Ball invested $484.0M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 53.7% from the prior year.

BALL Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$11.8B-2.2%	$12.1B-9.8%	$13.4B-3.2%	$13.8B+17.2%	$11.8B+2.7%	$11.5B
Cost of Revenue	$9.4B-4.1%	$9.8B-12.3%	$11.1B+0.3%	$11.1B+18.9%	$9.3B+1.3%	$9.2B
Gross Profit	$2.4B+5.8%	$2.3B+2.6%	$2.3B-17.5%	$2.7B+10.9%	$2.5B+38.5%	$1.8B
R&D Expenses	N/A	$55.0M0.0%	$55.0M-1.8%	$56.0M+19.1%	$47.0M+6.8%	$44.0M
SG&A Expenses	$647.0M+21.6%	$532.0M-4.1%	$555.0M-6.4%	$593.0M+13.0%	$525.0M+25.9%	$417.0M
Operating Income	N/A	$1.3B+4.9%	$1.2B-6.0%	$1.3B+28.7%	$1.0B+7.6%	$932.0M
Interest Expense	$293.0M-36.3%	$460.0M+47.0%	$313.0M+15.9%	$270.0M-1.8%	$275.0M-13.2%	$317.0M
Income Tax	$133.0M-8.9%	$146.0M+5.8%	$138.0M-11.5%	$156.0M+57.6%	$99.0M+39.4%	$71.0M
Net Income	$4.0B+464.6%	$711.0M-2.9%	$732.0M-16.6%	$878.0M+50.9%	$582.0M+8.6%	$536.0M
EPS (Diluted)	$13.00+483.0%	$2.23-0.9%	$2.25-15.1%	$2.65+50.6%	$1.76+6.0%	$1.66

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Revenue	$3.4B+1.2%	$3.3B+7.8%	$3.1B+7.5%	$2.9B-6.6%	$3.1B+4.2%	$3.0B+3.0%	$2.9B-1.0%	$2.9B
Cost of Revenue	$2.7B+0.4%	$2.7B+7.9%	$2.5B+8.9%	$2.3B-5.6%	$2.4B+2.9%	$2.4B+3.2%	$2.3B-0.9%	$2.3B
Gross Profit	$678.0M+4.6%	$648.0M+7.3%	$604.0M+25.8%	$480.0M-11.9%	$545.0M+11.5%	$489.0M+2.5%	$477.0M-1.2%	$483.0M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$130.0M-5.1%	$137.0M-8.1%	$149.0M+15.5%	$129.0M-9.2%	$142.0M+2.2%	$139.0M-41.4%	$237.0M+86.6%	$127.0M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	$196.0M-45.6%	$360.0M
Interest Expense	$85.0M+4.9%	$81.0M+15.7%	$70.0M+7.7%	$65.0M-3.0%	$67.0M-1.5%	$68.0M-26.9%	$93.0M-14.7%	$109.0M
Income Tax	$76.0M+24.6%	$61.0M+15.1%	$53.0M+253.3%	$15.0M-64.3%	$42.0M-14.3%	$49.0M+81.5%	$27.0M-30.8%	$39.0M
Net Income	$321.0M+49.3%	$215.0M+20.1%	$179.0M+696.7%	-$30.0M-115.1%	$199.0M+25.2%	$159.0M-95.7%	$3.7B+2293.5%	$154.0M
EPS (Diluted)	$1.18+55.3%	$0.76+20.6%	$0.63+672.7%	$-0.11-116.9%	$0.65+27.5%	$0.51-95.6%	$11.61+2269.4%	$0.49

BALL Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$17.6B-8.7%	$19.3B-3.0%	$19.9B+1.0%	$19.7B+8.0%	$18.3B+5.1%	$17.4B
Current Assets	$4.8B-0.9%	$4.9B-11.0%	$5.5B+5.1%	$5.2B+11.7%	$4.7B-4.3%	$4.9B
Cash & Equivalents	$885.0M+27.3%	$695.0M+26.8%	$548.0M-2.7%	$563.0M-58.8%	$1.4B-24.0%	$1.8B
Inventory	$1.5B-3.5%	$1.5B-29.7%	$2.2B+21.4%	$1.8B+32.7%	$1.4B+6.2%	$1.3B
Accounts Receivable	$1.7B+4.0%	$1.7B-20.7%	$2.1B+4.2%	$2.0B+50.4%	$1.3B+13.3%	$1.2B
Goodwill	$4.2B-1.8%	$4.3B+1.3%	$4.2B-4.2%	$4.4B-2.4%	$4.5B+1.5%	$4.4B
Total Liabilities	$11.7B-24.4%	$15.5B-5.6%	$16.4B+2.2%	$16.0B+7.5%	$14.9B+4.0%	$14.3B
Current Liabilities	$4.8B-21.6%	$6.2B-11.7%	$7.0B+17.7%	$6.0B+34.0%	$4.4B-20.3%	$5.6B
Long-Term Debt	$5.3B-29.2%	$7.5B-0.5%	$7.5B-2.4%	$7.7B-0.8%	$7.8B+22.8%	$6.3B
Total Equity	$5.9B+55.5%	$3.8B+8.9%	$3.5B-4.6%	$3.6B+10.7%	$3.3B+11.1%	$2.9B
Retained Earnings	$11.5B+48.5%	$7.8B+6.2%	$7.3B+6.8%	$6.8B+10.5%	$6.2B+6.7%	$5.8B

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Total Assets	$18.7B+0.6%	$18.6B+3.2%	$18.0B+2.3%	$17.6B-6.4%	$18.8B-0.7%	$19.0B-4.7%	$19.9B+3.1%	$19.3B
Current Assets	$5.3B+1.8%	$5.3B+4.2%	$5.0B+4.1%	$4.8B-13.7%	$5.6B-2.5%	$5.8B-11.8%	$6.5B+33.6%	$4.9B
Cash & Equivalents	$568.0M+91.9%	$296.0M-34.1%	$449.0M-49.3%	$885.0M-38.5%	$1.4B+7.0%	$1.3B-21.7%	$1.7B+147.3%	$695.0M
Inventory	$1.9B+7.2%	$1.7B+5.5%	$1.6B+11.2%	$1.5B+6.6%	$1.4B-2.9%	$1.4B-4.8%	$1.5B-2.2%	$1.5B
Accounts Receivable	$2.2B-6.3%	$2.4B+10.4%	$2.1B+22.6%	$1.7B-20.9%	$2.2B+0.1%	$2.2B-15.2%	$2.6B+54.8%	$1.7B
Goodwill	$4.4B-0.1%	$4.4B+3.3%	$4.2B+1.7%	$4.2B-1.7%	$4.2B+1.3%	$4.2B-0.5%	$4.2B-0.9%	$4.3B
Total Liabilities	$13.3B-0.5%	$13.3B+6.9%	$12.5B+6.6%	$11.7B-3.1%	$12.1B+0.8%	$12.0B-4.3%	$12.5B-19.0%	$15.5B
Current Liabilities	$4.8B-8.0%	$5.3B+8.5%	$4.8B0.0%	$4.8B-5.4%	$5.1B+4.8%	$4.9B-9.2%	$5.4B-13.0%	$6.2B
Long-Term Debt	$6.9B+5.9%	$6.5B+5.6%	$6.1B+15.5%	$5.3B-0.8%	$5.4B-3.0%	$5.5B0.0%	$5.5B-26.5%	$7.5B
Total Equity	$5.4B+4.6%	$5.2B-5.4%	$5.5B-6.2%	$5.9B-12.3%	$6.7B-3.3%	$6.9B-5.4%	$7.3B+93.9%	$3.8B
Retained Earnings	$12.1B+2.3%	$11.8B+1.3%	$11.6B+1.1%	$11.5B-0.8%	$11.6B+1.2%	$11.5B+0.8%	$11.4B+46.7%	$7.8B

BALL Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$115.0M-93.8%	$1.9B+518.9%	$301.0M-82.9%	$1.8B+22.9%	$1.4B-7.5%	$1.5B
Capital Expenditures	$484.0M-53.7%	$1.0B-36.7%	$1.7B-4.3%	$1.7B+55.1%	$1.1B+86.1%	$598.0M
Free Cash Flow	-$369.0M-145.1%	$818.0M+160.6%	-$1.4B-4070.6%	$34.0M-89.3%	$319.0M-66.4%	$950.0M
Investing Cash Flow	$5.0B+575.1%	-$1.1B-34.0%	-$786.0M+52.0%	-$1.6B-38.8%	-$1.2B-179.9%	-$422.0M
Financing Cash Flow	-$4.8B-623.6%	-$662.0M-236.5%	$485.0M+154.3%	-$894.0M-48.5%	-$602.0M-1208.7%	-$46.0M
Dividends Paid	$244.0M-3.2%	$252.0M-0.8%	$254.0M+10.9%	$229.0M+15.7%	$198.0M+8.8%	$182.0M
Share Buybacks	$1.7B+56966.7%	$3.0M-99.5%	$618.0M-19.3%	$766.0M+1243.9%	$57.0M-94.1%	$964.0M

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Operating Cash Flow	$384.0M+15.7%	$332.0M+149.9%	-$665.0M-233.0%	$500.0M-18.0%	$610.0M+142.1%	$252.0M+120.2%	-$1.2B-269.4%	$736.0M
Capital Expenditures	$127.0M+32.3%	$96.0M+18.5%	$81.0M-24.3%	$107.0M-8.5%	$117.0M+10.4%	$106.0M-31.2%	$154.0M-28.4%	$215.0M
Free Cash Flow	$257.0M+8.9%	$236.0M+131.6%	-$746.0M-289.8%	$393.0M-20.3%	$493.0M+237.7%	$146.0M+110.4%	-$1.4B-368.9%	$521.0M
Investing Cash Flow	-$183.0M+0.5%	-$184.0M+11.1%	-$207.0M-16.3%	-$178.0M-673.9%	-$23.0M+73.9%	-$88.0M-101.7%	$5.3B+2431.3%	-$227.0M
Financing Cash Flow	$52.0M+116.9%	-$308.0M-177.8%	$396.0M+150.0%	-$792.0M-57.8%	-$502.0M+3.1%	-$518.0M+82.6%	-$3.0B-158.5%	-$1.2B
Dividends Paid	$54.0M-1.8%	$55.0M-3.5%	$57.0M-3.4%	$59.0M-1.7%	$60.0M-3.2%	$62.0M-1.6%	$63.0M0.0%	$63.0M
Share Buybacks	$84.0M-82.0%	$467.0M-15.9%	$555.0M-14.7%	$651.0M+64.4%	$396.0M-18.0%	$483.0M+165.4%	$182.0M	$0

BALL Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	20.7%+1.6pp	19.1%+2.3pp	16.8%-2.9pp	19.7%-1.1pp	20.9%+5.4pp	15.5%
Operating Margin	N/A	10.5%+1.5pp	9.1%-0.3pp	9.3%+0.8pp	8.5%+0.4pp	8.1%
Net Margin	34.0%+28.1pp	5.9%+0.4pp	5.5%-0.9pp	6.4%+1.4pp	4.9%+0.3pp	4.7%
Return on Equity	68.5%+49.6pp	18.9%-2.3pp	21.1%-3.1pp	24.2%+6.4pp	17.8%-0.4pp	18.2%
Return on Assets	22.8%+19.1pp	3.7%0.0pp	3.7%-0.8pp	4.5%+1.3pp	3.2%+0.1pp	3.1%
Current Ratio	1.00+0.2	0.790.0	0.78-0.1	0.88-0.2	1.05+0.2	0.88
Debt-to-Equity	0.91-1.1	1.99-0.2	2.18+0.0	2.13-0.2	2.38+0.2	2.15
FCF Margin	-3.1%-9.9pp	6.8%+16.9pp	-10.1%-10.4pp	0.3%-2.5pp	2.7%-5.6pp	8.3%

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Gross Margin	20.1%+0.7pp	19.4%-0.1pp	19.5%+2.8pp	16.7%-1.0pp	17.7%+1.2pp	16.5%-0.1pp	16.6%-0.0pp	16.6%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	6.8%-5.6pp	12.4%
Net Margin	9.5%+3.1pp	6.4%+0.7pp	5.8%+6.8pp	-1.0%-7.5pp	6.5%+1.1pp	5.4%-122.9pp	128.3%+123.0pp	5.3%
Return on Equity	5.9%+1.8pp	4.1%+0.9pp	3.3%	N/A	3.0%+0.7pp	2.3%-48.1pp	50.4%+46.3pp	4.1%
Return on Assets	1.7%+0.6pp	1.2%+0.2pp	1.0%+1.2pp	-0.2%-1.2pp	1.1%+0.2pp	0.8%-17.7pp	18.5%+17.7pp	0.8%
Current Ratio	1.10+0.1	1.00-0.0	1.04+0.0	1.00-0.1	1.09-0.1	1.18-0.0	1.21+0.4	0.79
Debt-to-Equity	1.26+0.0	1.24+0.1	1.12+0.2	0.91+0.1	0.800.0	0.80+0.0	0.76-1.2	1.99
FCF Margin	7.6%+0.5pp	7.1%+31.2pp	-24.1%-37.7pp	13.7%-2.3pp	16.0%+11.1pp	4.9%+53.7pp	-48.8%-66.7pp	17.9%

Note: The current ratio is below 1.0 (1.00), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Crown Holdings CCK

$12.6B

Avery Dennison Corp AVY

$15.1B

Amcor Plc AMCR

$23.1B

International Paper Co IP

$25.9B

Smurfit WestRock PLC SW

$26.9B

Frequently Asked Questions

What is Ball's annual revenue?

Ball (BALL) reported $11.8B in total revenue for fiscal year 2024. This represents a -2.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Ball's revenue growing?

Ball (BALL) revenue declined by 2.2% year-over-year, from $12.1B to $11.8B in fiscal year 2024.

Is Ball profitable?

Yes, Ball (BALL) reported a net income of $4.0B in fiscal year 2024, with a net profit margin of 34.0%.

What is Ball's earnings per share (EPS)?

Ball (BALL) reported diluted earnings per share of $13.00 for fiscal year 2024. This represents a 483.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

How much debt does Ball have?

As of fiscal year 2024, Ball (BALL) had $885.0M in cash and equivalents against $5.3B in long-term debt.

What is Ball's gross margin?

Ball (BALL) had a gross margin of 20.7% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Ball's net profit margin?

Ball (BALL) had a net profit margin of 34.0% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Does Ball pay dividends?

Yes, Ball (BALL) paid $0.80 per share in dividends during fiscal year 2024.

What is Ball's return on equity (ROE)?

Ball (BALL) has a return on equity of 68.5% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Ball's free cash flow?

Ball (BALL) generated -$369.0M in free cash flow during fiscal year 2024. This represents a -145.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Ball's operating cash flow?

Ball (BALL) generated $115.0M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Ball's total assets?

Ball (BALL) had $17.6B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Ball's capital expenditures?

Ball (BALL) invested $484.0M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

Does Ball buy back shares?

Yes, Ball (BALL) spent $1.7B on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

What is Ball's current ratio?

Ball (BALL) had a current ratio of 1.00 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is Ball's debt-to-equity ratio?

Ball (BALL) had a debt-to-equity ratio of 0.91 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Ball's return on assets (ROA)?

Ball (BALL) had a return on assets of 22.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Ball's Piotroski F-Score?

Ball (BALL) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Ball's earnings high quality?

Ball (BALL) has an earnings quality ratio of 0.03x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Ball?

Ball (BALL) scores 44 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.