Short answer
Ball Corporation (BALL) filed its fiscal 2025 10-K annual report with the SEC on Feb 19, 2026. It reported revenue of $13.2B (+11.6% year over year) and net income of $912M.
- Top risk flagged: Regulatory risk from U.S. Customs challenge on aluminum import tariffs since Sept 2025, potential additional duties impacting results, no reserve recorded yet
FY2025 key financial metrics · XBRL
- Revenue
- $13.2B
- +11.6% YoY
- Net income
- $912M
- −77.2% YoY
- EPS (diluted)
- $3.30
- −74.6% YoY
- ROE
- 16.8%
- −51.5 pp YoY
- Operating cash flow
- $1.3B
- +997.4% YoY
Source: XBRL data from the Ball Corporation (BALL) FY2025 10-K on SEC EDGAR. USD.
Ball Corporation FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: global supplier of sustainable aluminum packaging for beverage, personal care, household products with $13.16B net sales in 2025
- Strategic shift: divested aerospace business in February 2024, now reporting three beverage packaging segments (N/CA, EMEA, South America)
- Notable sustainability commitment: 55% reduction in GHG emissions by 2030, net zero carbon before 2050, cans with 74% recycled content in 2024
- Workforce metric: approximately 16,000 employees at end of 2025, including 5,000 in U.S., 19% TRIR safety improvement to 0.98 surpassing 2030 target
- Employee engagement: 87% global survey response rate in 2025, strong alignment with vision, new enterprise-wide incentive plan introduced to reward performance
Management Discussion & Analysis
- Revenue $13.16B in 2025, up $1.37B (13%) YoY from volume (+$713M), price mix (+$579M), currency (+$177M)
- Net earnings $912M in 2025, down $3.10B YoY; net margin 7% vs 34% in 2024 impacted by discontinued aerospace operations
- Best segment: business consolidation/other activities income $41M in 2025 vs $420M charge in 2024; worst: discontinued aerospace operations loss impact
- Operating costs: cost of sales 80% of sales in 2025 vs 79% in 2024; SG&A decreased to 4% of sales from 5% due to lower compensation costs
- Interest expense $314M (4.5% rate) up from $293M (4.8% rate); tax rate 21.3% vs 24.9% in 2024 partly due to tax holidays and business sale effects
Risk Factors
- Regulatory risk from U.S. Customs challenge on aluminum import tariffs since Sept 2025, potential additional duties impacting results, no reserve recorded yet
- Geopolitical/macro exposure: 53% net sales outside U.S., vulnerable to political instability, tariffs, currency risk, inflation, and global conflicts
- Supply chain vulnerability due to raw material price/availability fluctuations, including aluminum commodity prices and possible tariff increases affecting profitability
- Competitive risk from plastic PET bottles and glass alternatives, especially intense competition in U.S., Europe, and Brazil markets
- Financial risk: $7.01 billion debt at year-end 2025 creates cash flow and strategic flexibility constraints, limits acquisitions and increases vulnerability to market shifts
Generated from the filing text; verify against the original. How to read a 10-K
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