BALL
Through the investors’ lenses
Each of these investors has said in public what they look at before buying. Click a name to see how this company measures up — a tick where it passes one of their tests, a cross where it does not.
Warren Buffett 2/3
| Measure | BALL | Checked against | |
|---|---|---|---|
| Owner earnings | $1.06bn | positive | ✓ |
| Return on equity | 16.9% | median 11.7% | ✓ |
| Debt to equity | 1.29x | median 0.79x | ✗ |
| Operating margin | — | median 15.0% | — |
Passes 2 of 3. To be clear: Warren Buffett has never said anything about BALL. These are the company’s own figures put through the tests he described. What he looks at, and why →
Terry Smith 0/2
| Measure | BALL | Checked against | |
|---|---|---|---|
| Return on capital employed | — | median 10.1% | — |
| Cash conversion | 1.38x | median 1.78x | ✗ |
| Operating margin | — | median 15.0% | — |
| Debt to equity | 1.29x | median 0.79x | ✗ |
Passes 0 of 2. To be clear: Terry Smith has never said anything about BALL. These are the company’s own figures put through the tests he described. What he looks at, and why →
Charlie Munger 1/1
| Measure | BALL | Checked against | |
|---|---|---|---|
| Return on capital employed | — | median 10.1% | — |
| Return on equity | 16.9% | median 11.7% | ✓ |
| Operating margin | — | median 15.0% | — |
Passes 1 of 1. To be clear: Charlie Munger has never said anything about BALL. These are the company’s own figures put through the tests he described. What he looks at, and why →
Chuck Akre 2/4
| Measure | BALL | Checked against | |
|---|---|---|---|
| Return on equity | 16.9% | median 11.7% | ✓ |
| Debt to equity | 1.29x | median 0.79x | ✗ |
| Cash conversion | 1.38x | median 1.78x | ✗ |
| Return on equity, sustained | 8 of 10 | 8 of 10 above median | ✓ |
Passes 2 of 4. To be clear: Chuck Akre has never said anything about BALL. These are the company’s own figures put through the tests he described. What he looks at, and why →
Philip Fisher 1/2
| Measure | BALL | Checked against | |
|---|---|---|---|
| Operating margin | — | median 15.0% | — |
| Net margin | 7.0% | median 10.2% | ✗ |
| Return on capital employed | — | median 10.1% | — |
| Operating margin, held or improving | 10.6% | 10-yr median 8.5% | ✓ |
Passes 1 of 2. To be clear: Philip Fisher has never said anything about BALL. These are the company’s own figures put through the tests he described. What he looks at, and why →
Walter Schloss 0/2
| Measure | BALL | Checked against | |
|---|---|---|---|
| Current ratio | 1.11x | median 1.25x | ✗ |
| Debt to equity | 1.29x | median 0.79x | ✗ |
Passes 0 of 2. To be clear: Walter Schloss has never said anything about BALL. These are the company’s own figures put through the tests he described. What he looks at, and why →
Benjamin Graham 1/3
| Measure | BALL | Checked against | |
|---|---|---|---|
| Current ratio | 1.11x | 2.00x published | ✗ |
| Long-term debt to working capital | 11.17x | 1.00x published | ✗ |
| Positive earnings, ten years running | 10 yrs | 10 published | ✓ |
Passes 1 of 3. To be clear: Benjamin Graham has never said anything about BALL. These are the company’s own figures put through the tests he described. What he looks at, and why →
Peter Lynch 0/2
| Measure | BALL | Checked against | |
|---|---|---|---|
| Debt to equity | 1.29x | median 0.79x | ✗ |
| Net margin | 7.0% | median 10.2% | ✗ |
Passes 0 of 2. To be clear: Peter Lynch has never said anything about BALL. These are the company’s own figures put through the tests he described. What he looks at, and why →
| Basis | Payout | Why |
|---|---|---|
| GAAP earnings | 24.2% | whyThe figure most screeners publish. |
| Operating cash flow | 17.4% | whyBefore capital spending. |
| Free cash flow | 27.9% | whyAfter maintaining the business. |
Spread between highest and lowest: 10.5 percentage points. Same filings, different denominators.
Coverage rating 36 / 100 — Strained. ? Peer standing 26/50Direction 10/30Stability 0/20
Free cash flow payout, last 6 years
| Fiscal year | Payout |
|---|---|
| 2025-12-31 | 27.9% |
| 2023-12-31 | 30.8% |
| 2020-12-31 | 62.1% |
| 2019-12-31 | 19.2% |
| 2018-12-31 | 18.3% |
| 2017-12-31 | 14.0% |
51% of the 74 industrials here pay out more.
The arithmetic
- GAAP earnings — dividends declared per share $0.800 ÷ diluted EPS $3.30
- Operating cash flow — dividends paid $220m ÷ operating cash flow $1,262m
- Free cash flow — dividends paid $220m ÷ (operating cash flow $1,262m − capex $474m)
Where the figures came from
- 10-K filed 2026-02-19 · accession 0001104659-26-017410
All public at sec.gov — you should not have to take our word for it.
Caveats on this company
- ebitda built from net income (no operating income reported)
Computed straight from SEC XBRL. A number that looks wrong to you is more useful to us than agreement — tell us.
What the free cash flow payout ratio measures, and where every company here sits on it.
Also on: rated strained · when it files.
When this changes
Every figure above is recomputed whenever BALL files. The monthly letter carries what filed, what moved, and one finding computed across every company here.