Amcor plc

AMCR
Financial Analysis · Updated May 13, 2026 · Coverage 2026-Q2
Latest Q Revenue
$5.8B
Q1 FY2026 · +71% YoY
TTM ROIC
6.5%
FY2025 · NOPAT / Invested Capital · WACC ~7% · Moat spread +0pp

Financial Snapshot


ticker: AMCR step: 04 generated: 2026-05-13 source: quick-research

Amcor plc (AMCR) — Financial Snapshot

Income Statement Summary (FY ends June 30)

Metric FY2022 FY2023 FY2024 YoY
Revenue ~$15.0B $14.69B $13.64B -7.2%
Gross Margin ~22% ~23% ~23%
Operating Margin ~8% ~8% ~7%
Net Income ~$700M ~$730M ~$730M
Adj. EPS ~$0.78 ~$0.76 ~$0.72

FY2024 revenue declined 7.2% as consumer destocking and volume normalization post-COVID impacted flexible packaging demand. FY2025 revenue rebounded to $15.0B (+10%) as volumes recovered and Berry Global was included from April 30, 2025 (2 months of Berry in FY2025). FY2025 GAAP net income fell 30% to $511M due to Berry integration costs of $262M in restructuring/transaction expenses.

Cash Flow & Balance Sheet (FY2025, post-Berry)

Metric Value
Revenue (FY2025) $15.009B (+10% YoY)
Free Cash Flow Target (FY2025) $900M–$1,000M
Annual Dividend $0.50/share (~4.2% yield)
Target FY2028 Annual Cash Flow $3B+
Integration Costs (9mo through Mar 2026) $262M

Key Ratios (approximate)

  • P/E: ~25x (trailing; inflated by integration costs) | Dividend Yield: ~4.2%
  • Revenue Growth (FY2025): +10% (Berry contribution) | FCF Margin: ~6–7%
  • Debt/Equity: ~1.2x | Interest Coverage: ~2x (stretched post-merger)

Growth Profile

Amcor's organic revenue growth averages 3% per year — a mature, stable packaging business. The transformative event is the April 2025 Berry Global merger: the combined company doubles its employee count (41,000 → 77,000), adds rigid dispensing, healthcare, and beauty packaging to the portfolio, and creates $650M in targeted synergies by FY2028. FY2026 is the first full year with Berry — expected $260M in pre-tax synergies will drive ~12% adjusted EPS accretion vs. standalone Amcor.

Forward Estimates

  • FY2026: First full year with Berry; $260M pre-tax synergies → ~12% adj. EPS accretion
  • FY2028 targets: $650M total synergies + $280M one-time cash benefits + $3B+ annual cash flow
  • Annual dividend: $0.50/share (raised from $0.485 — consecutive annual increases for 30+ years)
  • Integration costs: $262M incurred in 9 months ended March 2026 (near peak)
  • Analyst guidance: 72–76 cents adj. EPS for FY2025; FY2026 meaningfully higher with synergies

Deeper Financial Analysis

The fundamental tier adds 9 additional research dimensions for $AMCR.

Revenue Breakdown
Segment revenue, geographic mix, product-line contribution margins, and cohort dynamics.
Financial Trends
Quarter-over-quarter momentum, leading indicators, and inflection point analysis.
Balance Sheet
Debt structure, liquidity runway, dilution risk, and working capital dynamics.
Capital Allocation
Buyback cadence, M&A appetite, dividend policy, and reinvestment priorities.
Returns on Capital (ROIC)
Multi-year ROIC vs. WACC, marginal returns on reinvestment, sales-to-invested-capital efficiency, and moat spread.
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Markdown: /stocks/amcr/financials/md · → thesis · → memo