Amcor PLC Shs Chess Depository Interests (AU:AMC)
ASX:AMC
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Amcor PLC Shs Chess Depository Interests
(Sydney:AMC)
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Rating:56Neutral
Price Target:
AU$59.00
▲(2.97% Upside)
Action:ReiteratedDate:03/26/26
The score is held back primarily by weak technicals (broad downtrend and negative momentum) and pressured profitability with meaningful leverage. These are partially offset by improving TTM revenue, solid cash-flow quality, a high dividend yield, and a constructive earnings outlook driven by synergy delivery and reaffirmed FY26 guidance.
Positive Factors
Core portfolio strength
A clearly defined $20bn core portfolio delivering ~12% adjusted EBIT margins and rising adjusted EBIT dollars shows structural profitability within Amcor. This concentrated core provides durable cash generation and pricing leverage, supporting reinvestment, dividends and de‑leveraging even if non-core segments lag.
Negative Factors
Compressed profitability
Net margin compression to ~3% materially reduces earnings resilience versus prior years. Lower margin conversion limits internal funding capacity, heightens sensitivity to input cost inflation, and constrains ROE improvement even as revenue grows, prolonging the path to normalized profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Core portfolio strength
A clearly defined $20bn core portfolio delivering ~12% adjusted EBIT margins and rising adjusted EBIT dollars shows structural profitability within Amcor. This concentrated core provides durable cash generation and pricing leverage, supporting reinvestment, dividends and de‑leveraging even if non-core segments lag.
Read all positive factors
Amcor PLC Shs Chess Depository Interests (AMC) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$26.99B
Dividend Yield6.34%
Average Volume (3M)3.59M
Price to Earnings (P/E)26.9
Beta (1Y)0.42
Revenue Growth31.27%
EPS Growth-33.87%
CountryAU
Employees41,000
SectorConsumer Cyclical
Sector Strength84
IndustryPackaging & Containers
Share Statistics
EPS (TTM)1.23
Shares Outstanding462,045,700
10 Day Avg. Volume3,634,462
30 Day Avg. Volume3,590,794
Financial Highlights & Ratios
PEG Ratio-0.81
Price to Book (P/B)1.27
Price to Sales (P/S)0.99
P/FCF Ratio18.33
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$74.32Price Target Upside29.70% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering11
EPS Forecast (FY)5.7
Revenue Forecast (FY)AU$32.65B
Amcor PLC Shs Chess Depository Interests Business Overview & Revenue Model
Company Description
Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flex...
How the Company Makes Money
Amcor primarily makes money by manufacturing and selling packaging products to brand owners and manufacturers across consumer and healthcare markets. Revenue is generated through customer contracts and purchase orders for packaging volumes, typica...
Amcor PLC Shs Chess Depository Interests Earnings Call Summary
Earnings Call Date:Feb 03, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:May 05, 2026
Earnings Call Sentiment Positive
The call highlighted strong execution on integration and synergy capture (Q2 synergies of $55M, H1 $93M), solid near-term financial performance (Q2 adjusted EPS +7%, reaffirmed FY guidance, upgraded multi-year synergy targets), and clear portfolio focus with active optimization of $2.5B non-core businesses. Headwinds remain from soft volumes (company volumes down ~2.5% in Q2), weakness in the non-core North American beverage business, elevated leverage (3.6x exiting Q2), and some regional softness (Europe). Management expects H2 improvement driven by additional synergies, seasonality, and non-core performance recovery and maintained a constructive outlook. Overall, positive operational progress and guidance offset the near-term volume and non-core headwinds.Positive Updates
Quarterly Revenue and Profitability
Q2 revenue of $5.4 billion, EBITDA of $826 million and EBIT of $603 million; adjusted EPS of $0.86 for the quarter (post one-for-five reverse split). Adjusted EPS was up 7% in Q2 and 14% for the first half versus prior year.
Negative Updates
Volume Pressure Across the Business
Overall company volumes were down ~2.5% in Q2; core portfolio volumes down ~1.5%. Flexibles down ~2% and certain categories (liquids, other nutrition, unconverted film & foil) were weaker. Europe remained more challenged than North America.
Read all updates
Q2-2026 Updates
Positive
Negative
Quarterly Revenue and Profitability
Q2 revenue of $5.4 billion, EBITDA of $826 million and EBIT of $603 million; adjusted EPS of $0.86 for the quarter (post one-for-five reverse split). Adjusted EPS was up 7% in Q2 and 14% for the first half versus prior year.
Read all positive updates
Company Guidance
Amcor reaffirmed fiscal 2026 guidance, targeting adjusted EPS of $4.00–$4.15 per share (implying ~12%–17% y/y growth) and free cash flow of $1.8–$1.9 billion, alongside a commitment to double free cash flow versus fiscal 2025 and deliver double‑digit EPS growth; management expects at least $260 million of synergies in FY26 (Q2 synergies were $55m, H1 $93m), $650m of total synergies through FY28 (including $325m of procurement synergies by 2028), and annualized revenue from combination‑linked wins now exceeding $100m toward a $280m three‑year target. Near‑term guidepoints include Q3 adjusted EPS of $0.90–$1.00 (reflecting ~$70–$80m of synergies), fiscal 2026 capex of $850–$900m, adjusted leverage exiting Q2 of 3.6x with an expected fiscal year‑end leverage of 3.1–3.2x, and a continued quarterly dividend of $0.65 per share; Q2 results referenced were revenue $5.4bn, EBITDA $826m, EBIT $603m, adjusted EPS $0.86 and FCF $289m.Amcor PLC Shs Chess Depository Interests Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
55
Neutral
Cash Flow
60
Neutral
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 19.70B | 15.01B | 13.64B | 14.69B | 14.54B | 12.86B |
| Gross Profit | 3.58B | 2.83B | 2.71B | 2.73B | 2.82B | 2.73B |
| EBITDA | 2.46B | 1.77B | 1.85B | 2.13B | 1.90B | 1.92B |
| Net Income | 598.92M | 511.00M | 730.00M | 1.05B | 805.00M | 939.00M |
Balance Sheet | ||||||
| Total Assets | 37.07B | 37.07B | 16.52B | 17.00B | 17.43B | 17.19B |
| Cash, Cash Equivalents and Short-Term Investments | 1.06B | 827.00M | 588.00M | 689.00M | 775.00M | 850.00M |
| Total Debt | 16.91B | 15.01B | 7.19B | 6.75B | 6.49B | 6.29B |
| Total Liabilities | 25.42B | 25.33B | 12.57B | 12.91B | 13.29B | 12.37B |
| Stockholders Equity | 11.64B | 11.73B | 3.88B | 4.09B | 4.14B | 4.82B |
Cash Flow | ||||||
| Free Cash Flow | 1.14B | 810.00M | 829.00M | 735.00M | 999.00M | 993.00M |
| Operating Cash Flow | 1.61B | 1.39B | 1.32B | 1.26B | 1.53B | 1.46B |
| Investing Cash Flow | -2.41B | -2.10B | -476.00M | -308.00M | -510.00M | -228.00M |
| Financing Cash Flow | 1.35B | 910.00M | -857.00M | -1.01B | -886.00M | -1.18B |
Amcor PLC Shs Chess Depository Interests Technical Analysis
Negative
57.30
Price Trends
63.87
Negative
63.07
Negative
64.06
Negative
Market Momentum
-2.73
Positive
37.03
Neutral
47.75
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:AMC, the sentiment is Negative. The current price of 57.3 is below the 20-day moving average (MA) of 60.59, below the 50-day MA of 63.87, and below the 200-day MA of 64.06, indicating a bearish trend. The MACD of -2.73 indicates Positive momentum. The RSI at 37.03 is Neutral, neither overbought nor oversold. The STOCH value of 47.75 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:AMC.
Amcor PLC Shs Chess Depository Interests Risk Analysis
Amcor PLC Shs Chess Depository Interests disclosed 35 risk factors in its most recent earnings report. Amcor PLC Shs Chess Depository Interests reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Amcor PLC Shs Chess Depository Interests Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
57 Neutral | AU$2.40B | 11.83 | 4.39% | 4.50% | -55.50% | -25.65% | |
56 Neutral | AU$26.99B | 26.94 | 7.73% | 6.34% | 31.27% | -33.87% | |
48 Neutral | AU$3.27M | -0.04 | -49.58% | ― | -11.30% | -609.09% |
* Consumer Cyclical Sector Average
AU:AMC
Amcor PLC Shs Chess Depository Interests
58.22
-14.14
-19.54%
AU:ORA
Orora
1.95
0.07
3.73%
AU:PPG
Pro-Pac Packaging Limited
0.02
0.00
0.00%
Amcor PLC Shs Chess Depository Interests Corporate Events
Amcor Flexibles North America Prices US$1.5 Billion Guaranteed Senior Notes
Mar 5, 2026
Amcor Flexibles North America, a unit of packaging giant Amcor plc, has launched a major debt offering in the U.S. capital markets. The issuance comprises US$750 million of 4.250% guaranteed senior notes due 2029 and US$750 million of 5.125% guara...
Amcor Flexibles North America Plans Offering of New Guaranteed Senior Notes
Mar 5, 2026
Amcor Flexibles North America, an Amcor plc subsidiary, has filed a preliminary prospectus supplement with the U.S. Securities and Exchange Commission for an offering of new guaranteed senior notes. The notes, to be issued in multiple maturities a...
Amcor Updates CDI and Securities Balances for February 2026
Mar 4, 2026
Amcor PLC reported changes in its Chess Depository Interests for February 2026, with CDIs over quoted securities on the ASX rising to 143,534,829 from 141,555,089, reflecting net transfers between CDIs and ordinary shares traded on the NYSE. The c...
Amcor Corrects Executive Shareholding After Reverse Stock Split
Mar 4, 2026
Amcor has informed the Australian Securities Exchange that it has filed an amended Form 4 with the U.S. Securities and Exchange Commission, correcting previously reported figures for the beneficial ownership of ordinary shares by executive vice pr...
Amcor CEO Updates Insider Holdings After RSU Vesting and Reverse Split
Mar 3, 2026
Amcor has notified the Australian Securities Exchange that it has filed a Form 4 with the U.S. Securities and Exchange Commission detailing changes in the beneficial ownership of its chief executive officer, Peter Konieczny. The filing reflects th...
Amcor Discloses Insider Form 144 Filing for Planned Share Sale
Feb 8, 2026
Amcor plc has notified investors that it has filed a Form 144 with the U.S. Securities and Exchange Commission regarding a proposed sale of securities by company officer Michael Casamento. The filing signals a planned disposition of Amcor shares u...
Amcor Increases CDIs on Issue as More NYSE Shares Convert to ASX Securities
Feb 6, 2026
Amcor Plc has reported its monthly statement of CHESS Depositary Interests (CDIs) for January 2026, showing an increase in CDIs on issue over its quoted securities from 140,466,550 to 141,555,089. Over the same period, the number of underlying com...
Amcor Files Quarterly Form 10-Q for December 2025 Period
Feb 4, 2026
Amcor plc has filed its Form 10-Q for the quarter ended 31 December 2025 with the US Securities and Exchange Commission, providing investors and regulators with an update on the company’s financial and operational performance. The filing, wh...
Amcor Declares USD 0.65 Quarterly Dividend on ASX-Listed CDIs
Feb 3, 2026
Amcor PLC has declared an ordinary quarterly dividend of USD 0.65 per CDI for the period ended 31 December 2025, payable on 17 March 2026 to shareholders on the register as of 25 February 2026, with an ex-dividend date of 24 February 2026. The ann...
Amcor Notifies ASX of Latest Form 8-K Filing with US Regulator
Feb 3, 2026
Amcor has notified the Australian Securities Exchange that it has filed a Form 8-K with the US Securities and Exchange Commission, underscoring its ongoing compliance and disclosure obligations as a dual-listed company. The filing signals continue...
Amcor Reports Higher CDI Count on ASX Following Transfers from NYSE-Listed Shares
Jan 8, 2026
Amcor PLC has reported an increase in the number of Chess Depository Interests (CDIs) quoted on the ASX over its NYSE-listed shares for December 2025, with CDIs rising to 702.15 million from 697.91 million, a net increase of about 4.24 million. Th...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.