Ardagh Metal Packaging vs Karat Packaging
Ardagh Metal Packaging is the larger business, with $5.50bn of revenue in fiscal 2025 against $468m for Karat Packaging (11.8 times as much). Ardagh Metal Packaging grew faster (12.0% against 10.7%). Karat Packaging kept more of each dollar of sales as profit: a net margin of 6.7% against 0.2%.
| Latest fiscal year | Ardagh Metal PackagingAMBP, 2025 | Karat PackagingKRT, 2025 |
|---|---|---|
| Revenue | $5.50bn | $468m |
| Revenue growth | 12.0% | 10.7% |
| Net income | $11.0m | $31.5m |
| Operating margin | 4.4% | 8.9% |
| Net margin | 0.2% | 6.7% |
| Return on equity | — | 20.6% |
| Free cash flow | $276m | $33.1m |
| Cash | — | $37.9m |
| Total debt | $4.42bn | $35.9m |
| Debt to equity | — | 24.0% |
| Dividend per share | — | $1.80 |
| Dividend yield | 9.3% | 3.4% |
| Share buybacks | — | $3.0m |
| Employees | — | 696 |
| Market value | $2.75bn | $1.04bn |
| Price vs our value range | Within our value range | Within our value range |
| Moat score | — | 60 (Moderate) |
| Insider trades, 12 months | 0 buys, 0 sales | 1 buys, 4 sales |