One-glance verdict
Overvalued
$31.45 our estimate vs market $41.97
Wall Street consensus: $50.18 (59.5% higher than our fair-value estimate)
33% above our estimate, beyond the bull case
Fundamentals snapshot
Amcor plc
AMCR · NYQ · Consumer Cyclical · Packaging & Containers
Current price
$41.97
52-week range
$36.25 - $50.94
Market cap
$19.40B
Balance sheet
Stretched
3.25x Stretched
Net debt $14.02B. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
2 Risks
3 rewards · 2 risks
- Reward Revenue grew 362.5% last year.
- Reward Returns 9.4% on equity, ahead of 20% of its peers.
- Risk Net debt grew 110.9% over 3 years.
- Risk Insider ownership is only 0.3% (peer median: 0.6%).
What this company does
Amcor plc
Amcor makes the packaging for many everyday items you see in stores, from food and drinks to medicine and beauty products. The company earns its money by selling both flexible packaging (like bags and wrappers) and rigid packaging (like plastic bottles and jars) to the businesses that make these goods. Because so many essential products require packaging, Amcor's sales can be steady and predictable as people continue to buy these core items.
How the company got here
Amcor's story starts way back in 1860 with a paper mill in Australia. For a long time, it was known as Australian Paper Manufacturers. The company changed its name to Amcor in 1986 and began to focus more on packaging instead of just paper. Major turning points included buying the packaging business of Alcan in 2010 and combining with a big U.S. packaging company called Bemis in 2019, which made Amcor a truly global player.
What it actually does
Amcor makes the packaging for many products you see in stores every day. This includes things like the plastic bottles for drinks, the flexible bags for snacks and coffee, and the specialty cartons for medicines. They work with companies in the food, beverage, healthcare, and home and personal care industries to create packaging that protects the product and stands out on the shelf. Essentially, Amcor helps other companies package and sell their goods to you.
Flexibles
This is Amcor's largest business segment, making up a significant portion of its sales. It creates flexible packaging, which you can think of as anything that isn't a hard, rigid container. This includes pouches for snacks, wrappers for cheese, and bags for fresh produce and pet food. Companies that make food, drinks, and healthcare products pay Amcor for these packaging solutions.
Rigid Packaging
This part of the company produces hard, or rigid, plastic containers. Think of the plastic bottles for sodas and water, jars for sauces and spreads, and containers for personal care products like shampoo. This segment is smaller than the Flexibles business but is still a major part of Amcor's operations. Beverage and food companies are the primary customers for these products.
What management is betting on now
Amcor is heavily focused on what it calls "responsible packaging." This means creating packaging that is lighter, can be recycled or reused, and is made with more recycled materials. The company has set a goal to make all of its packaging recyclable or reusable. They are also investing in innovation to develop new types of packaging that are better for the environment, which they believe will attract and keep customers who are also focused on sustainability.
Price history
How the share price has moved
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Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2025 Q1
$-414.00M
FY2025 Q2
$330.00M
FY2025 Q3
$0.00
FY2025 Q4
$894.00M
FY2026 Q1
$-371.00M
FY2026 Q2
$282.00M
FY2026 Q3
$-42.00M
FY2026 Q4
$1.36B
Revenue
$6.40B
Net income
$389.00M
Diluted EPS
1.29
Operating cash flow
$1.59B
Free cash flow
$1.36B
Fetching…
Sources
Revenue
$5.91B
Net income
$278.00M
Diluted EPS
0.60
Operating cash flow
$186.00M
Free cash flow
$-42.00M
Fetching…
Sources
Revenue
$5.45B
Net income
$177.00M
Diluted EPS
0.38
Operating cash flow
$503.00M
Free cash flow
$282.00M
Fetching…
Sources
Revenue
$5.75B
Net income
$262.00M
Diluted EPS
0.11
Operating cash flow
$-133.00M
Free cash flow
$-371.00M
Fetching…
Sources
Revenue
$5.08B
Net income
$-39.00M
Diluted EPS
-0.06
Operating cash flow
$1.11B
Free cash flow
$894.00M
Fetching…
Sources
Revenue
$3.33B
Net income
$196.00M
Diluted EPS
0.14
Operating cash flow
$117.00M
Free cash flow
$0.00
Fetching…
Sources
Revenue
$3.24B
Net income
$163.00M
Diluted EPS
0.11
Operating cash flow
$428.00M
Free cash flow
$330.00M
Fetching…
Sources
Revenue
$3.35B
Net income
$191.00M
Diluted EPS
0.13
Operating cash flow
$-269.00M
Free cash flow
$-414.00M
Fetching…
Sources
Is it cheap or expensive?
Fair value $31.45 vs current price $41.97
Wall Street consensus is the average analyst price target: $50.18 (59.5% higher than our fair-value estimate).
Our most-likely fair value is $31.45 a share — about 25.1% below today's price of $41.97, so the stock currently looks expensive (overvalued).
Is it drowning in debt?
Stretched
Net debt $14.0B. Interest coverage 3.2x.
Net debt
$14.02B
Interest coverage
3.25x
Amcor plc's profit covers its interest bill about 3.2 times over. and 1 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Stretched
Worse cushion
Baseline
Better cushion
AMCR
BASELINE
Amcor plc
Total debt $15.14B Interest coverage 3.25x This is the baseline the peer rows are being compared against.
Total debt $4.40B Interest coverage 15.87x +388% vs AMCR Carries about 4.9x more debt cushion than AMCR.
Total debt $9.90B Interest coverage -0.02x -100% vs AMCR This peer has almost no interest-payment cushion compared with AMCR.
Total debt $7.58B Interest coverage 4.43x +36% vs AMCR Carries about 1.4x more debt cushion than AMCR.
Total debt $6.27B Interest coverage 4.11x +26% vs AMCR Carries about 1.3x more debt cushion than AMCR.
What you should know
The case for and against AMCR
3 Rewards
2 Risks
Rewards
-
Revenue grew 362.5% last year.
-
Returns 9.4% on equity, ahead of 20% of its peers.
-
Free cash flow was positive in 10/10 years.
Risks
-
Net debt grew 110.9% over 3 years.
-
Insider ownership is only 0.3% (peer median: 0.6%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
17.86x
Forward P/E
9.63x
P/B
1.64x
P/S
0.83x
EV/EBITDA
9.45x
PEG ratio
0.96x
Profitability
How much profit each dollar creates
Gross margin
20.0%
Operating margin
9.7%
Net margin
4.7%
ROE
9.4%
ROA
3.6%
Health
Liquidity and balance-sheet strength
Debt / equity
1.28x
Current ratio
1.25x
Quick ratio
0.64x
Total debt
$15.14B
Total cash
$1.12B
Growth
How the business has been compounding
Revenue TTM
$23.51B
Revenue 5Y CAGR
12.8%
EPS TTM
2.35
EPS 5Y CAGR
-12.3%
Cash flow
How much cash the business throws off
Operating CF TTM
$2.15B
Free CF TTM
$1.23B
FCF margin
5.2%
Dividend
Shareholder payout
Yield
6.1%
Payout ratio
108.7%
Last ex-div date
2026-09-04