Table of Contents :
• Stock Rating & Target Price
• Investment Thesis
• Fundamental Models Used
• Company Description
• Corporate Timeline
• Key Metrics (KPI ) and Recently Reported Earnings Review
• Business Highlights, Strategic Announcements & Outlook
• Quarter-over-Quarter (Q-o-Q) and Year-over-Year (Y-o-Y) Growth Analysis
• Key Catalysts Driving Growth
• Historical Financial Statement Analysis & CAGR Trends
• Quarterly Key Financial Ratios and Performance Metrics
• Annual Financial Performance Analysis: Horizontal and Vertical Financial Analysis, Trends
• Financial Forecasts
• Annual Forecasts: Income Statement
• Annual Forecasts: Cash Flow Statements
• Net Debt Levels
• A Closer Look at DCF: Our Assumptions and Methodology
• Terminal Value Calculation
• Target Price Analysis
• Valuation Multiples
• Supplementary Valuation Analysis: Multiples Approach
• Scenario/Sensitivity Analysis – Base Case , Bull Case ,Bear Case
• Holistic Peer Review & Trading Comps: Financial Data, Operational Metrics, and Valuation Multiples
• Implied Price Per Share
• Ownership Activity/ Insider Trades
• Ownership Summary
• An analysis of ESG Risk Rating
• Key Professionals
• Key Board Members
• Key Risks Considerations
• Analyst Ratings
• Analyst Industry Views
• Disclosures
Ball Corporation: Devil in the Details – Can Cost Efficiencies Drive the Long-Term Growth Algorithm?
Ball Corporation’s Q3 2024 results showcased operational resilience and disciplined capital allocation, with adjusted EPS rising 10% YoY to $0.91, exceeding expectations by $0.05, though GAAP EPS of $0.65 fell short due to one-time charges. Revenue declined 1% YoY to $3.08B, missing estimates by $50.12M, as softness in North America and Argentina offset strong performance in EMEA and South America. The EMEA segment delivered 24% YoY growth in operating earnings, supported by robust demand, substrate shifts, and eco-friendly packaging trends, while South America grew 28% YoY despite volume pressures. The Alucan Entec acquisition bolstered Ball’s aerosol capacity and positions the company for growth in sustainable aluminum packaging. Reduced CapEx by $400M in 2024 and strong free cash flow highlight Ball’s capital discipline, while mid-single-digit EPS growth guidance reflects cautious optimism for 2025. However, ongoing challenges in North American beverage volumes and underperformance in aluminum cups remain key headwinds. With structural tailwinds in eco-friendly packaging and potential demand recovery in key regions, Ball’s long-term growth algorithm targeting 10% annual EPS growth remains intact. Can Ball effectively navigate near-term regional pressures while leveraging sustainability trends and cost efficiencies to achieve its long-term financial targets?
