BALL
Ball Corporation
BALL's fundamentals are mixed, but it looks expensive: trading at 33x earnings, above its usual 27x. Its downside scenario is about seven times its upside.
BALL Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Healthy | |
| Weak |
BALL's revenue and cash flow are currently healthy, and its profitability is stable, but its balance sheet is weak.
BALL PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 15x | $64.91 | — |
| Cheap | 16x | $32.46 | -50% |
| Fair | 26x | $52.14 | -20% |
| Current | 33x | $64.91 | — |
| Expensive | 41x | $80.99 | +25% |
Historical ranges are pointers, not guarantees.
BALL's PE is in its fair range at 33x. If earnings grow as analysts expect, today's price would be 15x next year's earnings, in its cheap range.
BALL Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Stable | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for BALL, with profitability holding steady.
BALL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.30 | +118% |
| Q3 2026 | $1.97 | -20% |
| Q2 2026 | $3.51 | +82% |
| Q1 2026 | $3.44 | +105% |
| Q4 2025 | $3.30 | -74% |
| Q3 2025 | $2.46 | -81% |
| Q2 2025 | $1.93 | -85% |
| Q1 2025 | $1.68 | -87% |
| Q4 2024 | $12.66 | +468% |
BALL's earnings per share have fallen from their peak: $1.97 over the past year, against $13.28 in early 2024.
BALL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $4.2B | +24% |
| Q2 2026 | $4B | +20% |
| Q1 2026 | $3.6B | +16% |
| Q4 2025 | $3.3B | +16% |
| Q3 2025 | $3.4B | +9.6% |
| Q2 2025 | $3.3B | +13% |
| Q1 2025 | $3.1B | +7.8% |
| Q4 2024 | $2.9B | -15% |
BALL's revenue has grown year over year for seven quarters in a row: $4.2B last quarter, up 24% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -3.5% | -15 points |
| Q2 2026 | 7% | -1.1 points |
| Q1 2026 | 7.2% | -0.2 points |
| Q4 2025 | 7.2% | +6.9 points |
| Q3 2025 | 12% | +4.2 points |
| Q2 2025 | 8% | +1.3 points |
| Q1 2025 | 7.4% | +0.6 points |
| Q4 2024 | 0.2% | -8.6 points |
BALL's operating margin was −3.5% last quarter, down 15 points from the same quarter a year ago, near the bottom of its range since 2019.
BALL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $32M | -88% |
| Q2 2026 | $467M | +98% |
| Q1 2026 | -$938M | -$192M |
| Q4 2025 | $1B | +165% |
| Q3 2025 | $257M | -48% |
| Q2 2025 | $236M | +62% |
| Q1 2025 | -$746M | +$655M |
| Q4 2024 | $393M | -25% |
BALL generated $602M in free cash flow over the past year, about four times what it generated the year before.
BALL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.2% | -3.3M shares |
| 1 year | -3.3% | -9.1M shares |
| 3 years | -17% | -53.5M shares |
| 5 years | -20% | -67.8M shares |
| Available history | -22% | -76.3M shares |
BALL has 264M diluted shares, down 3.3% from a year ago, with $487M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $157M |
| Q2 2026 | $114M |
| Q1 2026 | $1M |
| Q4 2025 | $215M |
| Q3 2025 | $84M |
| Q2 2025 | $467M |
| Q1 2025 | $555M |
| Q4 2024 | $651M |
BALL spent $487M buying back its own shares over the past year, down 72% from the year before.
BALL Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 5.4x | High |
| Q2 2026 | 3.7x | Elevated |
| Q1 2026 | 4.0x | Elevated |
| Q4 2025 | 3.3x | Elevated |
| Q3 2025 | 4.4x | High |
| Q2 2025 | 5.0x | High |
| Q1 2025 | 5.0x | High |
| Q4 2024 | 3.9x | Elevated |
BALL's net debt is about 5.4 years of its operating earnings (EBITDA), up from 4.4 years a year ago.
BALL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 57.5 | Neutral |
| Stochastic | 77.9 | Neutral |
BALL's weekly RSI is 57 (neutral) and its Stochastic is 78 (neutral).
BALL PE vs Consumer Cyclical Sector
| Metric | BALL | Sector median | Relative |
|---|---|---|---|
| PE | 33x | 18x | 83% above |
| PE % | 61 | 47 | 14 pts above |
BALL is trading at 33x earnings, a 83% premium to the Consumer Cyclical sector's median of 18x.
BALL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $62.1 | 4.5% above |
| 20 week MA | $62.4 | 4% above |
| 50 week MA | $60.1 | 8% above |
| 100 week MA | $56.2 | 15% above |
| 200 week MA | $57.5 | 13% above |
BALL has climbed back above all five of its weekly moving averages, and it's now 13% above its 200-week average.
BALL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $64.7 | $92.3 | +43% |
| 2021 | $92.3 | $90.0 | -2.5% |
| 2022 | $90.0 | $51.6 | -43% |
| 2023 | $51.6 | $57.5 | +11% |
| 2024 | $57.5 | $55.8 | -2.9% |
| 2025 | $55.8 | $52.7 | -5.7% |
| 2026 YTD | $52.7 | $64.9 | +23% |
BALL has finished lower in four of the last six years. It's up 23% so far in 2026.