O-I Glass (OI)
NYSE:OI
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O-I Glass
(NYSE:OI)
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Rating:49Neutral
Price Target:
$10.00
▼(-6.72% Downside)
Action:ReiteratedDate:02/26/26
The score is held back primarily by weak profitability, sharp recent revenue decline, and high leverage despite improved free cash flow. Technical indicators also point to a soft near-term trend. These negatives are partially offset by a more positive earnings outlook driven by Fit to Win cost savings and management’s reaffirmed medium-term targets, though near-term Europe-related headwinds remain.
Positive Factors
Improved cash generation
Consistently positive operating cash flow and a strong rebound to positive free cash flow in TTM 2025 materially improve financial flexibility. Durable cash generation supports debt paydown, targeted capex, and funding of transformation programs, reducing refinancing and liquidity risk over the medium term.
Negative Factors
Elevated leverage
High leverage materially constrains financial flexibility and increases vulnerability to cyclical downturns or interest-rate moves. Even with improving cash flow, debt levels require sustained FCF generation and disciplined capital allocation to reach the company's multi-year deleveraging targets and reduce refinancing risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved cash generation
Consistently positive operating cash flow and a strong rebound to positive free cash flow in TTM 2025 materially improve financial flexibility. Durable cash generation supports debt paydown, targeted capex, and funding of transformation programs, reducing refinancing and liquidity risk over the medium term.
Read all positive factors
O-I Glass (OI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.63B
Dividend YieldN/A
Average Volume (3M)2.55M
Price to Earnings (P/E)―
Beta (1Y)1.05
Revenue Growth-2.82%
EPS Growth65.31%
CountryUS
Employees21,000
SectorConsumer Cyclical
Sector Strength84
IndustryPackaging & Containers
Share Statistics
EPS (TTM)0.20
Shares Outstanding152,361,600
10 Day Avg. Volume1,660,484
30 Day Avg. Volume2,546,404
Financial Highlights & Ratios
PEG Ratio-0.81
Price to Book (P/B)1.75
Price to Sales (P/S)0.35
P/FCF Ratio13.49
Enterprise Value/Market Cap3.60
Enterprise Value/Revenue0.92
Enterprise Value/Gross Profit5.31
Enterprise Value/Ebitda7.51
Forecast
1Y Price Target
$18.00Price Target Upside67.91% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)1.72
Revenue Forecast (FY)$6.42B
O-I Glass Business Overview & Revenue Model
Company Description
O-I Glass, Inc., through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers primarily in the Americas, Europe, and the Asia Pacific. The company produces glass containers for alcoholic beverages, including...
How the Company Makes Money
O-I primarily makes money by manufacturing and selling glass containers (bottles and jars) to customers in the beverage (e.g., beer, wine, spirits, and other beverages) and food (e.g., sauces, condiments, and other packaged foods) markets. Revenue...
O-I Glass Key Performance Indicators (KPIs)
Any
Revenue by Geography
Revenue split across regions reveals where O‑I earns most of its sales and where it's vulnerable to local demand swings, currency moves, and regional beverage or food market trends. Heavy concentration in a single geography increases sensitivity to that area's economic cycles, energy prices, and regulatory changes.
Revenue split across regions reveals where O‑I earns most of its sales and where it's vulnerable to local demand swings, currency moves, and regional beverage or food market trends. Heavy concentration in a single geography increases sensitivity to that area's economic cycles, energy prices, and regulatory changes.
Data provided by:
The Fly
The FlyO-I Glass Earnings Call Summary
Earnings Call Date:Feb 10, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 28, 2026
Earnings Call Sentiment Positive
The call presents a predominantly positive operational and financial narrative: management delivered strong cost-out performance (Fit to Win) that drove double-digit EBITDA and EPS improvement, margin expansion, materially improved free cash flow and reduced leverage. However, the company continues to face notable demand softness and inventory destocking (notably in beer and spirits), a near-term ~$150M energy cost reset in Europe, restructuring cash costs, and tough early-2026 comps that will pressure volumes in Q1. Management expects these headwinds to be largely transitory and has increased cost-savings targets and reaffirmed 2027 goals, signaling confidence that execution will offset near-term demand challenges.Positive Updates
Adjusted EPS and Earnings Recovery
Full-year 2025 adjusted earnings of $1.60 per share (nearly doubled vs 2024). Fourth-quarter adjusted earnings rebounded to $0.20 per share from a prior-year net loss, driven by Fit to Win benefits, higher production and a lower effective tax rate.
Negative Updates
Volume and Consumption Weakness
Shipments and tons were down ~2.5% for the year amid a ~3% decline in consumer consumption. Americas volumes declined ~10% in Q4 (concentrated in beer and spirits); management expects Q1 2026 volumes to be down mid-to-high single digits due to tough comparisons and inventory adjustments.
Read all updates
Q4-2025 Updates
Positive
Negative
Adjusted EPS and Earnings Recovery
Full-year 2025 adjusted earnings of $1.60 per share (nearly doubled vs 2024). Fourth-quarter adjusted earnings rebounded to $0.20 per share from a prior-year net loss, driven by Fit to Win benefits, higher production and a lower effective tax rate.
Read all positive updates
Company Guidance
Management's 2026 guidance calls for adjusted EBITDA of $1.25–$1.30 billion (up to 7% vs. 2025; would be up to +22% excl. a ~$150M one‑time European energy cost step‑up), adjusted EPS of $1.65–$1.90 (up to +19%, assuming a 30–33% tax rate), free cash flow of roughly $200M, capex of about $450M, and approximately $150M of restructuring cash costs (expected to decline after 2026); they expect a stable or modestly higher top line with volumes flat to slightly down (Q1 volumes likely down mid‑to‑high single digits on tough comps), and they reiterated at least $275M of incremental Fit to Win savings in 2026 (raising the three‑year cumulative Fit to Win target to at least $750M from $650M) after delivering $300M of Fit to Win benefits in 2025 (≈$80M in Q4); management reaffirmed the 2027 Investor Day targets (including adjusted EBITDA of at least $1.45B), noting FY25 results of adjusted EPS $1.60, free cash flow $168M, adjusted EBITDA +11% with margins +220 bps, economic spread +200 bps, and leverage improving to 3.5 (target ~2.5 by year‑end 2027).O-I Glass Financial Statement Overview
Summary
Income Statement
42
Neutral
Balance Sheet
35
Negative
Cash Flow
62
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 6.43B | 6.53B | 7.11B | 6.86B | 6.36B |
| Gross Profit | 1.11B | 1.04B | 1.50B | 1.21B | 1.09B |
| EBITDA | 781.00M | 859.00M | 892.00M | 1.50B | 997.00M |
| Net Income | -129.00M | -106.00M | -103.00M | 584.00M | 149.00M |
Balance Sheet | |||||
| Total Assets | 9.24B | 8.65B | 9.67B | 9.06B | 8.83B |
| Cash, Cash Equivalents and Short-Term Investments | 759.00M | 734.00M | 913.00M | 773.00M | 725.00M |
| Total Debt | 5.00B | 5.18B | 4.95B | 4.72B | 4.83B |
| Total Liabilities | 7.80B | 7.45B | 7.92B | 7.53B | 8.01B |
| Stockholders Equity | 1.29B | 1.08B | 1.61B | 1.42B | 720.00M |
Cash Flow | |||||
| Free Cash Flow | 168.00M | -128.00M | 130.00M | -385.00M | 289.00M |
| Operating Cash Flow | 600.00M | 489.00M | 818.00M | 154.00M | 687.00M |
| Investing Cash Flow | -368.00M | -620.00M | -683.00M | -97.00M | -220.00M |
| Financing Cash Flow | -250.00M | -8.00M | -27.00M | 6.00M | -273.00M |
O-I Glass Technical Analysis
Neutral
10.72
Price Trends
12.89
Negative
13.70
Negative
13.50
Negative
Market Momentum
-0.63
Negative
42.74
Neutral
44.64
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OI, the sentiment is Neutral. The current price of 10.72 is above the 20-day moving average (MA) of 10.52, below the 50-day MA of 12.89, and below the 200-day MA of 13.50, indicating a neutral trend. The MACD of -0.63 indicates Negative momentum. The RSI at 42.74 is Neutral, neither overbought nor oversold. The STOCH value of 44.64 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for OI.
O-I Glass Risk Analysis
O-I Glass disclosed 30 risk factors in its most recent earnings report. O-I Glass reported the most risks in the "Production" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
O-I Glass Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | $5.51B | 10.96 | 32.44% | 4.33% | 8.31% | -99.39% | |
65 Neutral | $3.72B | 5.59 | 2.08% | 3.19% | -17.63% | -80.32% | |
64 Neutral | $820.63M | 20.03 | 12.22% | 2.80% | 0.26% | 78.05% | |
63 Neutral | $4.36B | 14.78 | 13.03% | 1.97% | 11.10% | 6.54% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | $1.43B | 11.92 | 16.97% | 0.45% | 11.83% | 67.28% | |
49 Neutral | $1.63B | -17.57 | -10.38% | ― | -2.82% | 65.31% |
* Consumer Cyclical Sector Average
OI
O-I Glass
10.72
0.45
4.38%
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69.80
20.60
41.87%
MYE
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21.94
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141.90%
SLGN
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41.31
-5.46
-11.68%
SON
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55.76
15.18
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TRS
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37.91
17.23
83.36%
O-I Glass Corporate Events
Executive/Board Changes
O-I Glass Announces Leadership Change in Sales and Marketing
Neutral
Mar 5, 2026
On March 3, 2026, O-I Glass, Inc. announced an organizational change under which Arnaud Aujouannet would step down as senior vice president and chief sales and marketing officer, effective March 4, 2026. He will remain a non-executive employee on ...
Business Operations and StrategyFinancial Disclosures
O-I Glass Reaffirms 2026 Outlook Amid Earnings Headwinds
Negative
Feb 25, 2026
On February 25, 2026, O-I Glass said Chief Financial Officer John Haudrich would present that day at the BofA Securities 2026 Global Agriculture and Materials Conference to detail its strategy to boost shareholder value through competitiveness, co...
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.