Ardagh Metal Packaging S.A. (AMBP) intrinsic value & 10-year financials

Ardagh Metal Packaging S.A. (AMBP) has a Graham intrinsic value of $8.03 per share. Over the last 8 fiscal years revenue grew 8.6% a year to $5.5B, with an average return on invested capital of -62.8%.

Graham intrinsic value
$8.03
Revenue (FY2025)
$5.5B
Revenue growth (8-yr CAGR)
8.6%
ROIC (10-yr avg)
-62.8%
Free cash flow (FY2025)
$276.0M

AMBP 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $5.5B $11.0M -$0.02 $276.0M 4.4% -60.2%
FY2024 $4.9B -$3.0M -$0.05 $283.0M 4.1% -673.3%
FY2023 $4.8B -$50.0M -$0.12 $248.0M 1.6% 19.1%
FY2022 $4.7B $237.0M $0.38 -$380.0M 3.8% 6.0%
FY2021 $4.1B -$210.0M -$0.39 -$221.0M 1.2% 1.8%
FY2020 $3.5B $111.0M $0.22 $71.0M 6.1% 6.3%
FY2019 $3.3B -$40.0M -$0.08 $176.0M 5.9% 260.5%
FY2018 — — — — — —

Source: annual 10-K filings on SEC EDGAR. Figures in USD.

Executive summary

Ardagh Metal Packaging S.A. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.

Ardagh Metal Packaging S.A. has historically struggled to out-earn its cost of capital, averaging just -4.4% ROIC.

Ardagh Metal Packaging S.A. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.

Benjamin Graham lens

Under Benjamin Graham's formula using SEC EDGAR fundamentals, Ardagh Metal Packaging S.A. is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $8.03 per share.

AMBP stock: frequently asked questions

What is the intrinsic value of Ardagh Metal Packaging S.A. (AMBP) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a 8.0% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, AMBP's intrinsic value is about $8.03 per share.

Does Ardagh Metal Packaging S.A. generate free cash flow?

Ardagh Metal Packaging S.A. generated $276.0M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 5 of the last 7 reported years.

What is AMBP's return on invested capital?

Average ROIC over the last 8 fiscal years was -62.8%, and average return on equity was 36.4%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this AMBP data come from?

From Ardagh Metal Packaging S.A.'s annual 10-K filings on SEC EDGAR, most recently filed Mar 5, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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