Ball Corporation (BALL) Stock Research Report

The Can in Your Hand

Pick up a Coca-Cola, a Red Bull or a beer from Anheuser-Busch InBev, the brewer behind Budweiser and Stella Artois, and there is a fair chance that Ball made the can. The name never appears on the label.

Even so, Ball is one of the world's leading makers of aluminum cans, and its customers sell some of the best-known drinks on both sides of the Atlantic. Each time a drink goes into a can rather than a plastic bottle, Ball has a little more work to do.

Lately it has had a great deal more. Ball's sales are climbing quickly, helped by new plants in Europe and, it seems, by the price of aluminum, which its contracts mostly pass on to customers. The bigger sales are easy to see; what Ball keeps from them is harder to judge. Is this growth turning into lasting profit and cash?

What the Company Does

Ball makes aluminum drink cans and sells them to the companies that fill them. In 2025, Ball brought in $13.2 billion of sales, almost all of it from cans. It sold its aerospace business in early 2024 to concentrate on drinks packaging.

A small side business remains. It makes aluminum containers for sprays, aluminum bottles that can be closed again, and small metal discs that other factories press into tubes. Together these products made under 5% of sales.

The buyers are few and very large. Anheuser-Busch InBev accounted for 15% of revenue in 2025. The Coca-Cola Company brought in 14%.

The way those contracts are priced explains a great deal. A brewer that buys cans from Ball pays a price tied to aluminum, so its bill rises and falls with the metal. Most of Ball's contracts work this way, and its sales and costs therefore move together.

In a year of expensive aluminum, Ball's revenue can swell while the profit on each can hardly moves. We read this to mean that Ball's earnings depend mostly on how many cans it sells and how cheaply it makes them.

Ball sums up its strategy in a short list. One item shows where the company wants to go: speeding up the move of drinks into aluminum. Its stated goal is to raise , leaving aside one-off items, by more than 10% a year over the long term. With prices tied to the metal, much of that growth would have to come from more cans being filled and sold.

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Producer and publisher: Francesco Monterosso · ReasyPort
Financial information reference: 2026-03-31
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Ball Corporation (BALL) - Stock report