Ardagh Metal Packaging S.a. cash flow statement

In fiscal 2025, Ardagh Metal Packaging S.a.'s operations generated $449m of cash; it spent $173m on capital projects, leaving free cash flow of $276m. It returned $262m in dividends.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Ardagh Metal Packaging S.a.: cash flow statement, annual
Fiscal year	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash from operations	377	334	458	205	616	450	449
Depreciation and amortisation	149	149	151	138	143	140	138
Capital spending	201	263	679	585	368	167	173
Free cash flow	176	71	−221	−380	248	283	276
Dividends paid	—	—	—	251	263	264	262
Share buybacks	—	—	—	35	—	—	—

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Ardagh Metal Packaging S.a.'s SEC filings (10-K and 10-Q), retrieved November 2, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Ardagh Metal Packaging S.a.