O-I Glass (OI) AI Stock Analysis

• Market Cap: $2.28B
• Dividend Yield: N/A
• Average Volume (3M): 2.36M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.97
• Revenue Growth: -2.82%
• EPS Growth: 65.31%
• Country: US
• Employees: 21,000
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Packaging & Containers
• EPS (TTM): 0.48
• Shares Outstanding: 153,594,510
• 10 Day Avg. Volume: 2,792,430
• 30 Day Avg. Volume: 2,363,180
• PEG Ratio: -5.30
• Price to Book (P/B): 1.55
• Price to Sales (P/S): 0.26
• P/FCF Ratio: -13.09
• Enterprise Value/Market Cap: 2.95
• Enterprise Value/Revenue: 1.04
• Enterprise Value/Gross Profit: 6.18
• Enterprise Value/Ebitda: 8.71
• 1Y Price Target: $16.33
• Price Target Upside: 9.67% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): 1.59
• Revenue Forecast (FY): $6.43B

• Rating: 54 Neutral
• Price Target: $13.50 ▼(-9.34% Downside)

O-I Glass's overall stock score is primarily influenced by its financial challenges, including declining revenues and high leverage. However, the positive earnings call, highlighting strong Q3 performance and strategic initiatives, provides a counterbalance. Technical indicators show mixed momentum, and valuation remains a concern with a negative P/E ratio.

Positive Factors

Cost Efficiency

The successful execution of the Fit to Win initiative indicates strong cost management, enhancing profitability and competitive positioning.

Improved Financial Outlook

Raising guidance reflects confidence in strategic initiatives and market positioning, suggesting potential for sustained earnings growth.

Cash Flow Improvement

Significant improvement in free cash flow enhances financial flexibility, supporting investment in growth opportunities and debt reduction.

Negative Factors

High Leverage

High leverage can limit financial flexibility and increase risk, potentially impacting the company's ability to invest in growth or weather downturns.

Declining Revenue

A substantial decline in revenue growth challenges market position and profitability, requiring strategic adjustments to stabilize and grow sales.

Volume Decline in Key Segments

Declining volumes in key segments like beer and wine highlight demand challenges, potentially impacting revenue and market share.

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 beer, flavored malt beverages, spirits, and wine. It is also involved in the production of glass packaging for various food items, soft drinks, tea, juices, and pharmaceuticals. In addition, the company offers glass containers in a range of sizes, shapes, and colors. It sells its products directly to customers under annual or multi-year supply agreements, as well as through distributors. The company was founded in 1903 and is headquartered in Perrysburg, Ohio.

How the Company Makes Money

O-I Glass generates revenue primarily through the sale of glass containers to various sectors, particularly the food and beverage industries, which constitute a significant portion of its customer base. The company operates on a business-to-business (B2B) model, securing long-term contracts with major beverage companies, craft breweries, and food manufacturers. Additional revenue is derived from offering customized packaging solutions and value-added services, such as design and logistics support. O-I Glass also benefits from economies of scale due to its extensive manufacturing footprint and operational efficiencies. Strategic partnerships with key players in the beverage and food sectors further enhance its market position and contribute to steady income streams.

O-I Glass Financial Statement Overview

Summary

O-I Glass faces significant financial challenges, with declining revenues and profitability issues. The high leverage and negative return on equity highlight financial risks. However, the company has shown some resilience in cash flow generation, which could provide a foundation for recovery if operational efficiencies improve.

Income Statement

O-I Glass has experienced a significant decline in revenue growth, with a TTM revenue drop of 40.1%. The gross profit margin is relatively stable at 16.8%, but the company is struggling with negative net profit margins, indicating ongoing profitability challenges. EBIT margins have decreased, and EBITDA is negative, highlighting operational inefficiencies.

Balance Sheet

The company has a high debt-to-equity ratio of 2.21 in the TTM, indicating significant leverage. Return on equity is negative, reflecting losses and inefficiencies in generating returns for shareholders. The equity ratio is low, suggesting potential financial instability.

Cash Flow

Despite a challenging income environment, O-I Glass has shown a remarkable improvement in free cash flow growth, with a TTM increase of 1590%. The operating cash flow to net income ratio is positive, but the free cash flow to net income ratio indicates that cash generation is still a concern.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	6.46B	6.53B	7.11B	6.86B	6.36B	6.09B
Gross Profit	1.09B	1.04B	1.50B	1.21B	1.09B	972.00M
EBITDA	771.00M	859.00M	892.00M	1.50B	997.00M	1.09B
Net Income	-145.00M	-106.00M	-103.00M	584.00M	149.00M	249.00M
Balance Sheet
Total Assets	9.26B	8.65B	9.67B	9.06B	8.83B	8.88B
Cash, Cash Equivalents and Short-Term Investments	556.00M	734.00M	913.00M	773.00M	725.00M	563.00M
Total Debt	5.12B	5.18B	4.95B	4.72B	4.83B	5.14B
Total Liabilities	7.79B	7.45B	7.92B	7.53B	8.01B	8.48B
Stockholders Equity	1.33B	1.08B	1.61B	1.42B	720.00M	297.00M
Cash Flow
Free Cash Flow	169.00M	-128.00M	130.00M	-385.00M	289.00M	146.00M
Operating Cash Flow	516.00M	489.00M	818.00M	154.00M	687.00M	457.00M
Investing Cash Flow	-423.00M	-620.00M	-683.00M	-97.00M	-220.00M	93.00M
Financing Cash Flow	-295.00M	-8.00M	-27.00M	6.00M	-273.00M	-557.00M

O-I Glass Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 14.89
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OI, the sentiment is Positive. The current price of 14.89 is above the 20-day moving average (MA) of 14.39, above the 50-day MA of 13.22, and above the 200-day MA of 13.08, indicating a bullish trend. The MACD of 0.53 indicates Positive momentum. The RSI at 60.68 is Neutral, neither overbought nor oversold. The STOCH value of 38.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for OI.

O-I Glass Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MYE	69 Neutral	$720.48M	25.87	9.92%	2.80%	0.26%	78.05%
TRS	69 Neutral	$1.46B	33.22	6.26%	0.46%	11.83%	67.28%
SLGN	68 Neutral	$4.33B	13.82	14.58%	1.97%	11.10%	6.54%
GEF	67 Neutral	$3.38B	77.33	2.08%	3.19%	-17.63%	-80.32%
SON	63 Neutral	$4.26B	4,443.30	6.39%	4.90%	8.31%	-99.39%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
OI	54 Neutral	$2.28B	-15.68	-10.92%	―	-2.82%	65.31%

O-I Glass Corporate Events

O-I Glass Executives to Present at Citi Conference

O-I Glass, Inc. announced that its CEO Gordon Hardie and CFO John Haudrich will present at the Citi 2025 Basic Materials Conference on December 3, 2025. The presentation will focus on the company’s strategic initiatives, including cost management and efficiency improvements under the ‘Fit to Win’ program, which aims to enhance competitiveness and drive economic profit. The company is also focusing on transforming its cost base and expanding its premium business portfolio to increase shareholder value.

O-I Glass Announces Board Member Resignation

On November 7, 2025, O-I Glass, Inc. announced the resignation of Eric J. Foss from its Board of Directors following his new role as Chairman and CEO of Primo Brands Corporation. His resignation was in accordance with the company’s Corporate Governance Guidelines and was not due to any disagreements with the company’s operations or policies.

O-I Glass Secures $2.7 Billion Credit Agreement

On September 30, 2025, O-I Glass, Inc.’s subsidiary, Owens-Illinois Group, Inc., entered into an Amended and Restated Credit Agreement with Wells Fargo Bank and other financial institutions, refinancing its previous credit agreement from 2022. This new agreement allows for up to $2.7 billion in borrowings and includes various covenants and a Secured Leverage Ratio that could impact the company’s ability to undertake additional financing or acquisitions, potentially affecting its financial strategy and market positioning.