AI Takeaway
Ball Corporation's FY2025 filing shows a dramatic 74.6% drop in EPS to $3.33, offset by a near-tenfold surge in operating cash flow to $1.26B and a strengthened balance sheet with $1.21B in cash, reflecting a major business transformation year.
EPS (Basic)
$3.33
-74.62% YoY
Filed · Analysis updated · Source: SEC EDGAR 10-K filing
Operating cash flow skyrocketed from $115M in the prior year to $1.26B in FY2025, a nearly 10x improvement, suggesting significantly improved working capital management and core business cash generation after what appears to be a major restructuring or divestiture cycle.
Source: Source: 10-K Cash Flow Statement
Basic EPS fell sharply from $13.12 to $3.33 (-74.6%), which is likely attributable to large one-time gains in the prior year (possibly from the aerospace segment divestiture) rather than deterioration in ongoing operations, as cash flow metrics improved substantially.
Source: Source: 10-K Income Statement
Selling, General & Administrative expenses declined 12.5% year-over-year from $647M to $566M, indicating meaningful cost discipline and potential benefits from restructuring actions taken in prior periods.
Source: Source: 10-K Income Statement
2 more insights available
Upgrade to unlockBall's debt-to-equity ratio stands at 2.60x with total liabilities of $14.10B against stockholders' equity of $5.42B. This elevated leverage increases the company's sensitivity to interest rate changes and could constrain financial flexibility in a downturn. The 20.6% year-over-year increase in total liabilities amplifies this concern.
Source: Source: 10-K Balance Sheet
Unlock 4 more detailed risk analysis
Upgrade to unlockReported EPS of $0.91 versus the $0.91 analyst consensus — a -0.0% miss for FY2025.
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
EPS (Basic) | $3.33 | $13.12 | -74.62% |
EPS (Diluted) | $3.30 | $13.00 | -74.62% |
SG&A Expense | $566M | $647M | -12.52% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Total Assets | $19.52B | $17.63B | +10.76% |
Current Assets | $6.11B | $4.84B | +26.28% |
Total Liabilities | $14.1B | $11.7B | +20.56% |
Current Liabilities | $5.49B | $4.85B | +13.20% |
Stockholders' Equity | $5.42B | $5.86B | -7.52% |
Cash & Equivalents | $1.21B | $885M | +36.95% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Operating Cash Flow | $1.26B | $115M | +997.39% |
Investing Cash Flow | $-656M | $5B | -113.11% |
Financing Cash Flow | $-344M | $-4.79B | +92.82% |
Share Buybacks | $1.32B | $1.71B | -22.84% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Current Ratio | $1.114 | — | — |
Debt to Equity | $2.602 | — | — |
Ball's basic EPS dropped 74.6% from $13.12 to $3.33 in FY2025. This sharp decline is largely attributable to large one-time gains in FY2024 — likely from the divestiture of its aerospace business — that are not repeated in FY2025, rather than a deterioration in core operations.
Ball's operating cash flow surged from $115M to $1.26B in FY2025, a nearly 10-fold increase. This dramatic improvement likely reflects normalized working capital dynamics after the prior year's major divestiture activity, combined with ongoing cost discipline including a 12.5% reduction in SG&A expenses.
Ball's debt-to-equity ratio reached 2.60x in FY2025, with total liabilities rising 20.6% to $14.10B while stockholders' equity fell 7.5% to $5.42B. While the company maintains a current ratio of 1.11x and $1.21B in cash, the elevated leverage warrants monitoring, particularly given ongoing share buybacks of $1.32B during the year.
Yes, Ball repurchased $1.32B worth of shares in FY2025, though this was 22.8% lower than the $1.71B repurchased in FY2024. The company continued returning capital to shareholders even as it managed higher debt levels and transitioned away from the prior year's divestiture-driven cash inflows.
Ball enters FY2025 with $1.21B in cash (up 36.9% year-over-year) and significantly improved operating cash flow of $1.26B, suggesting solid liquidity. However, elevated leverage at 2.60x debt-to-equity and a thin current ratio of 1.11x indicate the company has limited financial cushion and must sustain strong cash generation to service its obligations.