# Amcor plc (AMCR) — Financial Analysis

**Exchange:** NYSE  
**Coverage as of:** 2026-Q2  
**Updated:** 2026-05-13  
**Tier:** Free primer (step 2 of 19)  
**Sibling pages:** /stocks/AMCR/thesis · /stocks/AMCR/memo

## 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 ($1.00) adds 8 dimensions not included here:

- Revenue Breakdown — segment revenue, geographic mix, product-line margins
- Financial Trends — QoQ momentum, leading indicators, inflection points
- Balance Sheet — debt structure, dilution risk, working capital dynamics
- Capital Allocation — ROIC, buyback cadence, reinvestment efficiency
- Earnings Analysis — beats/misses, guidance vs actuals, transcript highlights
- Competitive Positioning — market share, pricing power, peer benchmarks
- Industry Context — TAM, sector tailwinds/headwinds, regulatory backdrop

**API endpoint:** GET /api/v1/research/AMCR/fundamental

## Navigation

- Overview: /stocks/AMCR
- Financials (this page): /stocks/AMCR/financials
- Thesis: /stocks/AMCR/thesis
- Investment Memo: /stocks/AMCR/memo
- Coverage universe: /stocks