Ball Corporation (BALL) FY2025 10-K Annual Report
Ball Corporation (BALL) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 19, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Ball Corporation FY2025 10-K Analysis
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
Ball Corporation FY2025 Key Financial MetricsXBRL
Revenue
$13.2B
▲ +11.6% YoY
Net Income
$912M
▼ -77.2% YoY
Net Margin
6.9%
▼ -2705bp YoY
ROE
16.8%
▼ -5155bp YoY
Total Assets
$19.5B
▲ +10.8% YoY
EPS (Diluted)
$3.30
▼ -74.6% YoY
Operating Cash Flow
$1.3B
▲ +997.4% YoY
Source: XBRL data from Ball Corporation FY2025 10-K filing on SEC EDGAR. All figures in USD.
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