Amcor plc
AMCRBusiness Overview
ticker: AMCR step: 01 generated: 2026-05-13 source: quick-research
Amcor plc (AMCR) — Business Overview
Business Description
Amcor is a global leader in flexible and rigid packaging solutions, headquartered in Zürich, Switzerland and listed on NYSE (American depositary shares). The company serves food, beverage, pharmaceutical, healthcare, and personal care customers in over 140 countries. On April 30, 2025, Amcor completed an all-stock combination with Berry Global ($8.4B deal), creating the world's largest flexible packaging company with approximately $23B in combined revenues, 400 facilities, 70,000 employees, and a significantly expanded healthcare and hygiene packaging portfolio. Amcor's fiscal year ends June 30.
Revenue Model
Revenue comes from manufacturing and selling flexible packaging (films, pouches, flexible bags), rigid packaging (bottles, jars, closures), and healthcare packaging (pharmaceutical blister packs, medical device packaging). Packaging is a volume-plus-price business — Amcor benefits from global CPG volume growth while passing through raw material (resin, aluminum foil) price changes to customers via contractual mechanisms. The Berry combination dramatically expands the rigid plastics and healthcare segments.
Products & Services
- Flexible packaging: films, pouches, stand-up bags, lidding, wraps (food, personal care, pet food)
- Rigid packaging: plastic bottles, jars, closures (beverages, food, personal care)
- Healthcare packaging: pharmaceutical blister packs, medical device pouches, sterile packaging
- Specialty applications: coffee packaging, protein packaging, hygiene/beauty packaging
- Sustainable packaging: recyclable, compostable, reduced-plastic formats
Customer Base & Go-to-Market
Global CPG companies: Nestlé, Unilever, P&G, Mars, PepsiCo, and major pharmaceutical companies. Relationships are typically multi-year supply agreements at the global brand level. The combined Amcor-Berry portfolio strengthens positions in healthcare (high-margin), protein, pet food, liquids, beauty, and foodservice — all structurally growing categories.
Competitive Position
World's largest flexible packaging company post-Berry. Major competitors include Sealed Air, Sonoco, Graphic Packaging (fiber), and Constantia Flexibles (private). The scale advantage of $23B+ in revenues provides procurement leverage on resins (largest input cost), customer diversification, and the R&D budget to lead on sustainable packaging innovation — increasingly important as CPG customers face ESG mandates.
Key Facts
- Founded: 1926 (as Australian Consolidated Industries packaging operations)
- Headquarters: Zürich, Switzerland (operational HQ: Zürich; incorporated in UK)
- Employees: ~70,000 (post-Berry combination)
- Exchange: NYSE (ADR)
- Sector / Industry: Materials / Containers & Packaging (Flexible & Rigid)
- Market Cap: ~$18–22B (post-combination)
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.