Ball vs Greif
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The short version
- Ball is the larger business, with $13.2B of revenue in fiscal 2025 against $3.9B for Greif, about 3.3 times as much.
- Ball grew revenue faster (11.6%, against −9.7%).
- Ball turned more of its sales into free cash flow (6.0% FCF margin, against −2.2%).
- Ball earned a higher return on the capital invested in it (10.4%, against 1.9%).
| Latest fiscal year | BALL · FY25 | GEF · FY25 |
|---|---|---|
| Size | ||
| Market cap | $17.3B | — |
| Revenue | $13.2B | $3.9B |
| Free cash flow | $788M | −$85.2M |
| Net income | $915M | $840M |
| Growth | ||
| Revenue growth | 11.6% | −9.7% |
| 5-year growth | 2.2% | −2.7% |
| Share count change | −10.5% | — |
| Profitability | ||
| Gross margin | — | 22.2% |
| Operating margin | — | 4.3% |
| Net margin | 7.0% | 21.4% |
| FCF margin | 6.0% | −2.2% |
| Return on capital | 10.4% | 1.9% |
| Return on equity | 16.2% | 33.6% |
| Balance sheet | ||
| Net debt | $5.8B | $985M |
| Net debt / EBITDA | 2.8x | 2.4x |
| Dividends and buybacks | $1.5B | $101M |
| Valuation & quality | ||
| P/E | 18.4x | — |
| Piotroski F-score | 6 | — |
Revenue
FY16
BALL $9.1B
GEF $3.3B
FY17
BALL $11.0B
GEF $3.6B
FY18
BALL $11.6B
GEF $3.9B
FY19
BALL $11.5B
GEF $4.6B
FY20
BALL $11.8B
GEF $4.5B
FY21
BALL $13.8B
GEF $5.6B
FY22
BALL $13.4B
GEF $6.3B
FY23
BALL $12.1B
GEF $4.2B
FY24
BALL $11.8B
GEF $4.4B
FY25
BALL $13.2B
GEF $3.9B
BALL
GEF
Operating margin
FY16
BALL 5.1%
GEF 6.8%
FY17
BALL 7.3%
GEF 8.2%
FY18
BALL 8.0%
GEF 9.6%
FY19
BALL 8.1%
GEF 8.7%
FY20
BALL 8.5%
GEF 6.8%
FY21
BALL 9.4%
GEF 10.5%
FY22
BALL 9.1%
GEF 9.8%
FY23
BALL 10.6%
GEF 10.2%
FY24
BALL —
GEF 7.8%
FY25
BALL —
GEF 4.3%
BALL
GEF
Free cash flow
FY16
BALL −$413M
GEF $201M
FY17
BALL $922M
GEF $208M
FY18
BALL $750M
GEF $113M
FY19
BALL $950M
GEF $233M
FY20
BALL $319M
GEF $323M
FY21
BALL $34.0M
GEF $255M
FY22
BALL −$1.4B
GEF $481M
FY23
BALL $818M
GEF $436M
FY24
BALL −$369M
GEF $170M
FY25
BALL $788M
GEF −$85.2M
BALL
GEF
Return on capital
FY16
BALL 5.6%
GEF 5.9%
FY17
BALL 5.2%
GEF 10.6%
FY18
BALL 6.6%
GEF 14.5%
FY19
BALL 8.9%
GEF 10.0%
FY20
BALL 9.1%
GEF 5.4%
FY21
BALL 10.6%
GEF 13.7%
FY22
BALL 8.6%
GEF 12.7%
FY23
BALL 8.2%
GEF 8.4%
FY24
BALL 5.6%
GEF 7.1%
FY25
BALL 10.4%
GEF 1.9%
BALL
GEF
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.