Company file · BALL
Ball
Ball's revenue rose 11.6% in FY2025, to $13.2B, and net income fell 77.2% to $915M
Revenue rose 11.6% to $13.2B in FY2025, from $11.8B in FY2024. Net income fell 77.2% to $915M. United States was the largest region, at 47% of revenue.
Key facts
In fiscal 2025, which ended Dec 31, 2025, Ball (NYSE: BALL) took in $13.2B of revenue (up 11.6% on fiscal 2024); net income was $915M (down 77.2%). The most recent quarter, ended Sep 30, 2026, brought revenue of $4.2B, up 23.9% year over year, with net income of −$94M. United States was the biggest single line by region: 47% of fiscal 2025 revenue. Sources: 10-K for fiscal 2025 (filed Feb 19, 2026) and 10-Q for the quarter ended Sep 30, 2026 (filed Nov 3, 2026).
Source: 10-K FY2025, filed Feb 19, 2026
Source: 10-Q filed May 5, 2026 · 10-Q filed Aug 4, 2026 · 10-Q filed Nov 3, 2026
How it makes money
By region, FY2025
- LineAmountSharevs FY2024
- United States$6.2B47%+12.5%
- Other Geographic Group$5.5B42%+12.3%
- Brazil$1.5B11%+5.4%
Source: 10-K FY2025, XBRL breakdown
By region in FY2025: United States (47%), Other Geographic Group (42%) and Brazil (11%), as shares of total revenue. Total revenue was $13.2B.
Source: 10-K FY2025
By segment, FY2025
Share is of FY2025 revenue; the items listed don't cover all of it. The last column is the change from FY2024.
Learn more: Revenue vs. net income · Gross, operating and net margin
What changed last quarter
Comparing Q3 2026 (Jul to Sep 2026) compared with Q3 2025 (Jul to Sep 2025)
Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.
Q3 2026Q3 2025
Company
A hatched bar is a loss, drawn by its size. The % change isn't shown when either quarter is a loss.
Source: Ball 10-Q for the quarter ended Sep 30, 2026, filed Nov 3, 2026
The bull case and the bear case
The bull case
- Revenue rose 11.6% in FY2025 to $13.2B, from $11.8B a year earlier. 10-K, FY2025
- Operating cash flow rose 997.4% in FY2025 to $1.3B. 10-K, FY2025
- Diluted shares fell 10.5% in FY2025, so each share represents a larger slice of profit. 10-K, FY2025
- Revenue in the quarter ended Sep 30, 2026 was $4.2B, up 23.9% on a year earlier. 10-Q, quarter ended Sep 30, 2026
The bear case
- Net income fell 77.2% in FY2025 to $915M, from $4.0B. 10-K, FY2025
- Total debt rose 23.6% in FY2025 to $7.0B. 10-K, FY2025
- The company's own risk factors are in Item 1A of its 10-K. Risks common in this industry include commodity prices; demand cycles; energy and input costs. 10-K, Item 1A
What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.
What the company does
Ball is in the metal, glass & plastic containers industry, part of the materials sector. The SEC files it under Metal Cans.
Ball reports 3 segments: Metal Beverage Packaging North and Central America, Metal Beverage Packaging Europe and Metal Beverage Packaging South America.
Its fiscal year ends in December; the latest, FY2025, ended Dec 31, 2025.
Source: 10-K, Item 1 Business
Risks common in this industry
These are general risks for companies in the metal, glass & plastic containers industry. They are not a summary of Ball’s own risk factors; for those, read Item 1A of its latest 10-K, linked below.
- Commodity pricesPrices of the metals, chemicals or products it sells move revenue and margins.
- Demand cyclesCustomers in construction, manufacturing and autos buy less in downturns.
- Energy and input costsEnergy, raw material and freight costs can rise faster than prices.
- Regulation and environmentEnvironmental and safety rules can raise costs or limit operations.
- TradeTariffs and trade policy can shift demand and competition.
Source: 10-K, Item 1A Risk Factors (the company's own list, in the company's words)
Three years of key numbers
Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.
| US$ | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue | $12.1B | $11.8B | $13.2B |
| Net income | $711M | $4.0B | $915M |
| Operating cash flow | $1.9B | $115M | $1.3B |
| Cash & equivalents (year end) | $695M | $885M | $1.2B |
| Total debt (year end) | $8.6B | $5.7B | $7.0B |
| Diluted shares | 317M | 308M | 276M |
- Revenue: Total revenue for the fiscal year, as the company reports it on its income statement.
- Net income: Net income including the share that belongs to minority owners of subsidiaries.
- Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
- Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
- Total debt: Debt due within one year plus long-term debt, at carrying value.
- Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.
Learn more: How to read an income statement · Earnings per share, basic and diluted · Free cash flow · How to read a balance sheet · Growth rate calculator · P/E calculator · Market cap calculator · Free cash flow calculator · Return on equity and assets calculator
Explainers for this page
- Net debt and net cash
- Debt-to-equity ratio
- The cash flow statement
- Risk factors (Item 1A)
- Segment reporting
- Noncontrolling interest
- Capital expenditures (capex)
Plain-English guides to terms this file uses, with real numbers from filings.
About these numbers
- Net income here includes the share that belongs to minority owners of subsidiaries, the figure the company's tagged data carries for the whole business.
- The segment chart covers only part of revenue: the company reports other lines that aren't part of this breakdown.
Recent filings
| Form | Filed | Period |
|---|---|---|
| 10-Q | Nov 3, 2026 | Sep 30, 2026 |
| 10-Q | Aug 4, 2026 | Jun 30, 2026 |
| 10-Q | May 5, 2026 | Mar 31, 2026 |
| DEF 14A | Mar 17, 2026 | Apr 29, 2026 |
| 10-K | Feb 19, 2026 | Dec 31, 2025 |
Learn more: 10-K vs. 10-Q vs. 8-K · Form 4 insider filings · Fiscal years and quarters
Common questions about Ball
How does Ball make money?
In fiscal 2025, revenue totaled $13.2B. By region in FY2025: United States (47%), Other Geographic Group (42%) and Brazil (11%), as shares of total revenue. Total revenue was $13.2B. Source: 10-K for fiscal 2025, filed Feb 19, 2026.
What was Ball's revenue in fiscal 2025?
Revenue came to $13.2B in the year ended Dec 31, 2025. Going back two years, it was $12.1B in fiscal 2023 and $11.8B in fiscal 2024, so the latest year was up 11.6%. Source: 10-K for fiscal 2025, filed Feb 19, 2026.
Is Ball profitable?
Yes, by US accounting rules (GAAP): net income was $915M in fiscal 2025, down 77.2% from $4.0B a year earlier. For the quarter ended Sep 30, 2026, net income was −$94M. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2025, filed Feb 19, 2026.
What did Ball report in its latest quarterly filing?
The 10-Q for the quarter ended Sep 30, 2026 shows revenue of $4.2B, against $3.4B in the same quarter a year before (up 23.9%), and net income of −$94M, against $321M (compared with $321M). Source: 10-Q for the quarter ended Sep 30, 2026, filed Nov 3, 2026.
How much cash and debt does Ball have?
On Sep 30, 2026, cash and cash equivalents stood at $410M and total debt at $7.3B. Total debt here is debt due within one year plus long-term debt, at carrying value. Source: 10-Q filed Nov 3, 2026.
What are the main risks Ball faces?
Ball's own risk factors are in Item 1A of its 10-K for fiscal 2025, filed Feb 19, 2026. Risks that are common among companies in the metal, glass & plastic containers industry include Commodity prices; demand cycles; energy and input costs; regulation and environment; trade. The first: Prices of the metals, chemicals or products it sells move revenue and margins. Source: 10-K, Item 1A Risk Factors.
Where do these Ball numbers come from?
Two filings Ball made with the SEC: its fiscal 2025 10-K, filed Feb 19, 2026, and its 10-Q for the quarter ended Sep 30, 2026, filed Nov 3, 2026. The figures are taken from the XBRL data the SEC publishes, and every one links back to its source. Methodology explains how fiscal years and missing numbers are handled.
Tracked funds that report owning Ball
- Millennium Management: 4,170,550 shares, reported value $260.2M at Jun 30, 2026 (+1.2% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Point72 Asset Management: 683,072 shares, reported value $42.6M at Jun 30, 2026 (+200.1% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Citadel Advisors: 326,783 shares, reported value $20.4M at Jun 30, 2026 (+23.2% in shares since the filing for Mar 31, 2026). Form 13F filed Sep 2, 2026.
- Two Sigma Investments: 85,454 shares, reported value $5.3M at Jun 30, 2026 (−20.4% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Renaissance Technologies: 72,000 shares, reported value $4.5M at Jun 30, 2026 (new in this filing). Form 13F filed Aug 13, 2026.
- Bridgewater Associates: 30,004 shares, reported value $1.9M at Jun 30, 2026 (new in this filing). Form 13F filed Aug 14, 2026.
From each fund’s latest Form 13F, which is filed up to 45 days after quarter end and lists long positions in US-listed stocks only. A listing here is a fact about a filing, not a view on the stock. What a 13F does and doesn’t show.
Disclosures
- Editor holdings in BALL
- The editor holds no position in Ball (BALL). As of Nov 11, 2026.
- Trading rule
- The editor does not buy or sell BALL from 3 days before to 3 days after this page is published or substantively updated.
- Compensation
- Nobody paid for this page. No affiliate links on this page.
- Sources
- The company's SEC filings, linked next to each number or, for charts, in the source line under them.
- Last updated
- Nov 10, 2026
General education, the same for every reader. Not a recommendation to buy, sell or hold BALL, and it doesn't consider your situation.
Compare with peers
| Company | Fiscal year | Revenue | Revenue growth | Net income |
|---|---|---|---|---|
| Ball | FY2025 | $13.2B | +11.6% | $915M |
| LindeLIN | FY2025 | $34.0B | +3.0% | $6.9B |
| NewmontNEM | FY2025 | $22.7B | +21.3% | $7.1B |
| Freeport-McMoRanFCX | FY2025 | $25.9B | +1.8% | $4.2B |
Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.
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New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.