One-glance verdict
Within fair range
$-5.57 our estimate vs market $5.63
Wall Street consensus: $8.04 (-244.2% lower than our fair-value estimate)
201% below our estimate
Fundamentals snapshot
O-I Glass, Inc.
OI · NYQ · Consumer Cyclical · Packaging & Containers
Current price
$5.63
52-week range
$5.30 - $16.91
Market cap
$865.10M
Balance sheet
Distressed
1.76x Concerning
Net debt $4.65B. Interest coverage shows how many times profit covers the interest bill.
What stands out
1 Reward
3 Risks
1 rewards · 3 risks
- Reward Free cash flow was positive in 7/10 years.
- Risk Return on equity was -118.3% last year — the company lost money on shareholders' equity.
- Risk Insider ownership is only 1.3% (peer median: 16.3%).
- Risk Net debt grew 7.5% over 3 years.
What this company does
O-I Glass, Inc.
O-I Glass makes glass bottles and jars for drinks and food companies all over the world. Their money mostly comes from selling these glass containers, which is important because it shows how much they're selling to keep their business running smoothly.
How the company got here
O-I Glass, Inc. has a long history, tracing its roots back to 1903. Originally known as Owens-Illinois, the company has been a major player in the glass container industry for over a century. A significant turning point was its name change to O-I Glass, Inc. in December 2019, signaling a renewed focus on its core glass manufacturing business. Throughout its existence, the company has adapted to changing market demands and technological advancements in packaging.
What it actually does
O-I Glass makes glass bottles and jars for a wide variety of food and beverage products. Think about the glass bottles your favorite beer, wine, or soda comes in, or the jars that hold pickles or jam – O-I Glass likely makes many of them. They produce these containers in many different sizes, shapes, and colors to meet the needs of their customers, which are primarily food and beverage companies. These companies then fill the containers with their products and sell them to consumers.
Glass Containers
This is the core business of O-I Glass, where they manufacture glass packaging for alcoholic beverages like beer, wine, and spirits, as well as for non-alcoholic drinks such as soft drinks, teas, and juices. They also produce glass jars for various food items and even for pharmaceuticals. This segment represents the vast majority of O-I Glass's revenue, as it's their primary product offering. They sell these containers directly to large food and beverage manufacturers through long-term contracts.
What management is betting on now
O-I Glass is focused on innovating and improving its glass container products. This includes developing lighter-weight bottles that use less material, which can reduce costs for both the company and its customers, and also lessen the environmental impact. They are also investing in technology to make their manufacturing processes more efficient and sustainable. The goal is to remain a leading supplier of glass packaging by offering high-quality, innovative, and environmentally conscious solutions to the food and beverage industry.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$55.00M
FY2024 Q4
$210.00M
FY2025 Q1
$-306.00M
FY2025 Q2
$51.00M
FY2025 Q3
$114.00M
FY2025 Q4
$309.00M
FY2026 Q1
$-436.00M
FY2026 Q2
$-1.00M
Revenue
$1.67B
Net income
$-972.00M
Diluted EPS
-6.33
Operating cash flow
$94.00M
Free cash flow
$-1.00M
Fetching…
Sources
Revenue
$1.54B
Net income
$-73.00M
Diluted EPS
-0.48
Operating cash flow
$-294.00M
Free cash flow
$-436.00M
Fetching…
Sources
Revenue
$1.50B
Net income
$-138.00M
Diluted EPS
-0.90
Operating cash flow
$402.00M
Free cash flow
$309.00M
Fetching…
Sources
Revenue
$1.65B
Net income
$30.00M
Diluted EPS
0.19
Operating cash flow
$214.00M
Free cash flow
$114.00M
Fetching…
Sources
Revenue
$1.71B
Net income
$-5.00M
Diluted EPS
-0.03
Operating cash flow
$155.00M
Free cash flow
$51.00M
Fetching…
Sources
Revenue
$1.57B
Net income
$-16.00M
Diluted EPS
-0.10
Operating cash flow
$-171.00M
Free cash flow
$-306.00M
Fetching…
Sources
Revenue
$1.53B
Net income
$-155.00M
Diluted EPS
-0.98
Operating cash flow
$318.00M
Free cash flow
$210.00M
Fetching…
Sources
Revenue
$1.68B
Net income
$-80.00M
Diluted EPS
-0.52
Operating cash flow
$191.00M
Free cash flow
$55.00M
Fetching…
Sources
Is it cheap or expensive?
Fair value $-5.57 vs current price $5.63
Wall Street consensus is the average analyst price target: $8.04 (-244.2% lower than our fair-value estimate).
Our most-likely fair value is $-5.57 a share — about 199.0% away from today's price of $5.63, so the stock currently looks fairly priced.
Is it drowning in debt?
Distressed
Net debt $4.6B. Interest coverage 1.8x.
Net debt
$4.65B
Interest coverage
1.76x
O-I Glass, Inc.'s profit covers its interest bill about 1.8 times over. which is stronger than most peers shown here and 1 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Distressed
Worse cushion
Baseline
Better cushion
OI
BASELINE
O-I Glass, Inc.
Total debt $4.99B Interest coverage 1.76x This is the baseline the peer rows are being compared against.
Total debt $341.22M Interest coverage 2.55x +45% vs OI Carries about 1.4x more debt cushion than OI.
Total debt $437.77M Interest coverage 0.49x -72% vs OI Carries about 3.6x less debt cushion than OI.
Total debt $4.32B Interest coverage 1.31x -26% vs OI Carries about 1.3x less debt cushion than OI.
Total debt $4.83B Interest coverage 3.48x +97% vs OI Carries about 2.0x more debt cushion than OI.
Total debt $1.23B Interest coverage 6.72x +281% vs OI Carries about 3.8x more debt cushion than OI.
What you should know
The case for and against OI
1 Reward
3 Risks
Rewards
-
Free cash flow was positive in 7/10 years.
Risks
-
Return on equity was -118.3% last year — the company lost money on shareholders' equity.
-
Insider ownership is only 1.3% (peer median: 16.3%).
-
Net debt grew 7.5% over 3 years.
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)
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Forward P/E
4.04x
P/B
0.67x
P/S
0.14x
EV/EBITDA
6.34x
PEG ratio
0.35x
Profitability
How much profit each dollar creates
Gross margin
14.8%
Operating margin
7.2%
Net margin
-18.2%
ROE
-118.3%
ROA
3.6%
Health
Liquidity and balance-sheet strength
Debt / equity
9.25x
Current ratio
1.26x
Quick ratio
0.63x
Total debt
$4.99B
Total cash
$339.00M
Growth
How the business has been compounding
Revenue TTM
$6.36B
Revenue 5Y CAGR
-1.7%
EPS TTM
-7.54
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$416.00M
Free CF TTM
$168.00M
FCF margin
2.6%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
0.0%
Last ex-div date
2020-02-27