Ball vs O-i Glass
Ball is the larger business, with $13.16bn of revenue in fiscal 2025 against $6.43bn for O-i Glass (2.0 times as much). Ball grew faster (11.6% against -1.6%). Ball kept more of each dollar of sales as profit: a net margin of 6.9% against -2.0%. Ball carries less debt relative to equity (130.1% against 386.3%).
| Latest fiscal year | BallBALL, 2025 | O-i GlassOI, 2025 |
|---|---|---|
| Revenue | $13.16bn | $6.43bn |
| Revenue growth | 11.6% | -1.6% |
| Net income | $912m | −$129m |
| Operating margin | — | — |
| Net margin | 6.9% | -2.0% |
| Return on equity | 16.2% | -10.9% |
| Free cash flow | $788m | $168m |
| Cash | $1.21bn | $759m |
| Total debt | $7.05bn | $5.00bn |
| Debt to equity | 130.1% | 386.3% |
| Dividend per share | $0.80 | — |
| Dividend yield | 1.3% | — |
| Share buybacks | $1.32bn | $40.0m |
| Employees | 16,000 | 19,000 |
| Market value | $17.08bn | $791m |
| Price vs our value range | Above our value range | — |
| Moat score | 61 (Moderate) | 41 (Weak) |
| Insider trades, 12 months | 1 buys, 5 sales | 5 buys, 0 sales |