Alcoa
AA · Aluminum
$37.91
2.0%Ball
BALL · Metal, Glass & Plastic Containers
$64.76
1.6%The short version
- Ball is the larger business, with $13.2B of revenue in fiscal 2025 against $12.8B for Alcoa.
- Ball grew revenue faster (11.6%, against 7.9%).
- Ball turned more of its sales into free cash flow (6.0% FCF margin, against 4.4% FCF margin).
- Alcoa earned a higher return on the capital invested in it (18.0%, against 10.4%).
- Investors pay more for each dollar of Ball’s earnings: a P/E of 18.4x against 7.9x for Alcoa.
| Latest fiscal year | AA · FY25 | BALL · FY25 |
|---|---|---|
| Size | ||
| Market cap | $10.1B | $17.3B |
| Revenue | $12.8B | $13.2B |
| Free cash flow | $567M | $788M |
| Net income | $1.2B | $915M |
| Growth | ||
| Revenue growth | 7.9% | 11.6% |
| 5-year growth | 6.7% | 2.2% |
| Share count change | 22.0% | −10.5% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | 9.0% | 7.0% |
| FCF margin | 4.4% | 6.0% |
| Return on capital | 18.0% | 10.4% |
| Return on equity | 20.5% | 16.2% |
| Balance sheet | ||
| Net debt | $851M | $5.8B |
| Net debt / EBITDA | 0.5x | 2.8x |
| Dividends and buybacks | $104M | $1.5B |
| Valuation & quality | ||
| P/E | 7.9x | 18.4x |
| Piotroski F-score | 6 | 6 |
FY16
AA $9.3B
BALL $9.1B
FY17
AA $11.7B
BALL $11.0B
FY18
AA $13.4B
BALL $11.6B
FY19
AA $10.4B
BALL $11.5B
FY20
AA $9.3B
BALL $11.8B
FY21
AA $12.2B
BALL $13.8B
FY22
AA $12.5B
BALL $13.4B
FY23
AA $10.6B
BALL $12.1B
FY24
AA $11.9B
BALL $11.8B
FY25
AA $12.8B
BALL $13.2B
AA
BALL
FY16
AA —
BALL 5.1%
FY17
AA —
BALL 7.3%
FY18
AA —
BALL 8.0%
FY19
AA —
BALL 8.1%
FY20
AA —
BALL 8.5%
FY21
AA —
BALL 9.4%
FY22
AA —
BALL 9.1%
FY23
AA —
BALL 10.6%
FY24
AA —
BALL —
FY25
AA —
BALL —
AA
BALL
FY16
AA −$715M
BALL −$413M
FY17
AA $819M
BALL $922M
FY18
AA $49.0M
BALL $750M
FY19
AA $307M
BALL $950M
FY20
AA $41.0M
BALL $319M
FY21
AA $530M
BALL $34.0M
FY22
AA $342M
BALL −$1.4B
FY23
AA −$440M
BALL $818M
FY24
AA $42.0M
BALL −$369M
FY25
AA $567M
BALL $788M
AA
BALL
FY16
AA 0.7%
BALL 5.6%
FY17
AA 8.6%
BALL 5.2%
FY18
AA 12.6%
BALL 6.6%
FY19
AA −3.3%
BALL 8.9%
FY20
AA 2.5%
BALL 9.1%
FY21
AA 11.4%
BALL 10.6%
FY22
AA 6.1%
BALL 8.6%
FY23
AA −5.5%
BALL 8.2%
FY24
AA 3.3%
BALL 5.6%
FY25
AA 18.0%
BALL 10.4%
AA
BALL
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.