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Ball Corp BALL

Morningstar Rating
$64.28 +0.26 (0.41%)
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Company Report

Ball Earnings: Near-Term Headwinds Persist but Demand for Cans Improves Sequentially

Narrow-moat-rated Ball Corp finished the challenging year on a high note as the company reported solid fourth-quarter results. Net sales in the fourth quarter declined 4% year over year due to weakness in North and Central America, but Ball’s operating margin expanded 350 basis points to 8.8% as the company benefited from favorable pricing and lower costs in the quarter. While global beverage can shipments were down 3.2% in the quarter, we remain confident that Ball will benefit from a long-term shift to eco-friendly packaging. We've increased our fair value estimate to $60 per share from $58 due to the time value of money and a slight increase in our near-term forecast.

Price vs Fair Value

BALL is trading at a 7% premium.
Price
$64.28
Fair Value
$73.00
Uncertainty
High
1-Star Price
$57.00
5-Star Price
$15.00
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Ball's capacity expansion plans should amplify the firm's growth prospects. The firm expects its aluminum beverage can capacity to increase by 25 billion units by the end of 2023.

Bears

Ball’s capacity expansion plans could prove aggressive and leave the company at risk of significant amounts of excess capacity should demand moderate.

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News

Trading Information

Previous Close Price
$64.02
Day Range
$63.0964.35
52-Week Range
$42.8164.50
Bid/Ask
$63.82 / $64.56
Market Cap
$20.29 Bil
Volume/Avg
1.6 Mil / 2.0 Mil

Key Statistics

Price/Earnings (Normalized)
22.08
Price/Sales
1.45
Dividend Yield (Trailing)
1.24%
Dividend Yield (Forward)
1.24%
Total Yield
1.26%

Company Profile

Ball is the world's largest metal can manufacturer with market share over 40% in its three main regions (North America, Europe, and South America). The company is focused on increasing capacity amid a wave of new developed-market demand, while also investing in faster-growing emerging-market economies. Ball maintains a small presence in the U.S. defense industry through its aerospace segment. Ball spun-off its glass jar business in 1993 and is now owned by Newell. The company reports four segments—beverage packaging, North and Central America (43% of revenue), beverage packaging, EMEA (24%), beverage packaging, South America (14%), aerospace (14%)—and it generated $14 billion in revenue in 2023.
Sector
Consumer Cyclical
Industry
Packaging & Containers
Stock Style Box
Mid Core
Total Number of Employees
21,000

Competitors

Valuation

Metric
BALL
OI
CCK
Price/Earnings (Normalized)
22.085.5713.05
Price/Book Value
5.381.653.82
Price/Sales
1.450.370.76
Price/Cash Flow
13.562.767.53
Price/Earnings
BALL
OI
CCK

Financial Strength

Metric
BALL
OI
CCK
Quick Ratio
0.490.680.72
Current Ratio
0.791.231.15
Interest Coverage
2.771.202.70
Quick Ratio
BALL
OI
CCK

Profitability

Metric
BALL
OI
CCK
Return on Assets (Normalized)
4.23%5.14%4.83%
Return on Equity (Normalized)
22.55%27.89%32.26%
Return on Invested Capital (Normalized)
9.20%11.27%9.69%
Return on Assets
BALL
OI
CCK
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