Amcor plc
AMCRAmcor is a scale-driven packaging supplier built to grind out steady cash, not explosive growth.
Because boring, essential businesses can compound quietly for 20 years if they stay disciplined.
Business Model
Global packaging supplier
It manufactures plastic and flexible packaging for food, beverages, healthcare, and consumer goods companies.
Economic Engine
High cash conversion
Free cash flow runs about 1.6 times reported net income, showing solid cash generation.
Long-Term Lens
Scale and cost discipline
The key question is whether scale can protect margins in a competitive, low-margin industry.
BinaPrint Snapshot
Style
Blend
Fitness
Mixed
Updated Mar 8, 2026
On this page
Company Story
How do Amcor plc's business model and economics hold up on a closer read?
Start with the business itself, then go one layer deeper into the model, the economics, and the long-term case.
“A steady, cash-generating packaging giant that likely endures for decades, but with thin margins that limit upside.”
What does Amcor plc actually do?
Amcor makes the packaging that protects food, drinks, medicines, and household products.
- Produces flexible plastic pouches and films for snacks, frozen food, and pet food
- Makes rigid containers and bottles for beverages and personal care products
- Supplies medical and pharmaceutical packaging that must meet strict safety standards
Why it matters
Packaging is essential
Every consumer product needs packaging, which makes demand relatively steady over long periods.
How does Amcor plc make money?
Amcor sells high-volume packaging to large global brands under multi-year supply relationships.
- Revenue grew 10.0 percent year over year, but only 3.9 percent per year on average over five years
- Gross margin is 18.9 percent, showing limited pricing power
- Operating margin is 6.7 percent, reflecting a cost-focused manufacturing model
Economic clue
Thin but steady margins
Low margins mean execution and cost control matter more than flashy innovation.
Why do long-term investors keep Amcor plc on the radar?
Amcor can matter because it turns everyday consumer demand into reliable cash flow.
- Free cash flow equals 1.59 times net income, indicating strong cash conversion
- Free cash flow margin is 5.4 percent, solid for a heavy manufacturing business
- No share dilution, meaning existing owners are not being watered down
Investor takeaway
Cash is real
Strong cash conversion gives management flexibility even when accounting earnings fluctuate.
Based on company financial statements.
What Could Change The Story
- Drifting would move the profile toward Anchor.
- Strengthening would move the profile toward Anchor.
Benchmark Comparison
How has Amcor plc performed against common long-term benchmarks?
Once the business case is clear, compare the stock against broad market and alternative long-term baselines.
$745.56
-25.4% total return
$1,753
+75.3% total return
$2,975
+197.5% total return
$1,393
+39.3% total return
| Asset | Total Return | Dollar Value |
|---|---|---|
| AMCR | -25.4% | $745.56 |
| S&P 500 | +75.3% | $1,753 |
| Gold | +197.5% | $2,975 |
| Bitcoin | +39.3% | $1,393 |
From Mar 5, 2021 to Mar 6, 2026. Historical price data based on company financial statements and market indices. Each card uses the same starting amount so the comparison stays apples-to-apples.
Investor Fit
How a first-time investor could frame Amcor plc
Before going deeper, decide what kind of business this is, what it tends to suit, and what deserves monitoring over time.
This Can Fit If You Want
- A steady, essential business tied to everyday consumer demand
- A company that generates consistent free cash flow
- Moderate growth with lower drama than high-growth tech stocks
Be Careful If You Expect
- High double-digit earnings growth for many years
- Wide profit margins like software or luxury brands
- A powerful brand moat that allows premium pricing
What To Watch Over Time
- Whether operating margin stays near or above 6 to 7 percent
- Long-term revenue growth above its 3.9 percent five-year average
- How management deploys hundreds of millions in annual capital spending
BinaPrint Position
Where does Amcor plc sit on the BinaPrint map right now?
Test whether business quality and financial profile match the company's stated narrative.
Advanced BinaPrint details
Open the axes, investor fit, and risk framing behind this profile.
Key Metrics
Which metrics matter most for Amcor plc right now?
Three durable business metrics that matter more than day-to-day price moves.
3.9% five-year average
-14.6% five-year average
18.9% gross margin
| Metric | Value | Context |
|---|---|---|
| Revenue Growth | 3.9% five-year average | Shows whether the business has been expanding fast enough to create more long-term value. |
| EPS Growth | -14.6% five-year average | Shows whether earnings per share are compounding for owners over time. |
| Margin Quality | 18.9% gross margin | Shows how much room the business has to fund growth, absorb shocks, and stay profitable. |
Based on company financial statements.
Fundamentals
What do Amcor plc's fundamentals say right now?
Core financial markers that explain how the business is performing beneath the stock price.
8.1% ROIC
18.9% gross margin
5.4% FCF margin
Stable to shrinking
| Metric | Value | Interpretation |
|---|---|---|
| Capital Efficiency | 8.1% ROIC | The business is currently showing poor capital efficiency. |
| Profitability | 18.9% gross margin | Healthy gross margins give the company room to invest, price competitively, and absorb shocks. |
| Cash Generation | 5.4% FCF margin | Free cash flow margin shows how much real cash the business keeps after funding operations and investment. |
| Ownership Trend | Stable to shrinking | The company is not currently diluting owners and may be buying back shares instead. |
Based on company financial statements.
Included In Funds
Which ETFs and funds currently hold Amcor plc?
Amcor plc currently appears in these ETF and fund proxies.
SPY
SPDR S&P 500 ETF Trust
IWB
iShares Russell 1000 ETF
Questions & Answers
What questions come up most often about Amcor plc?
Company-specific questions readers often ask about Amcor plc.
Each entry answers a direct question about the business, the long-term thesis, or the risks that matter over time.
Amcor manufactures flexible and rigid packaging used for food, beverages, healthcare products, and household goods around the world.
Decision Framing
Secondary context after the long-term thesis
Shorter-horizon context and comparison tools, after the core long-term read.
Shorter-horizon price moves, two-sided debate, and comparison tools live here so the page stays anchored on business quality, durability, and BinaPrint fit first.
Investment Thesis
Bull vs Bear
Two-sided framing before any decision.
Current argument weight is balanced.
Bull case
What can work
Packaging demand is structurally tied to global consumption of food, beverages, and healthcare products, which tend to grow steadily with population and income over decades.
Scale across multiple regions allows Amcor to serve multinational clients with consistent quality, creating a barrier that smaller regional players struggle to overcome.
Strong cash conversion, with free cash flow at 1.59 times net income, provides resilience during downturns and capital for reinvestment.
Healthcare and medical packaging require regulatory compliance and quality control, creating higher switching friction than basic commodity packaging.
Bear case
What can break
Packaging is largely commoditized, and with gross margins at 18.9 percent and operating margins at 6.7 percent, prolonged price competition could permanently depress returns.
Environmental regulation targeting plastic packaging could force costly redesigns or reduce demand for certain products over the next 20 years.
Large consumer goods companies have bargaining power and may squeeze suppliers, limiting Amcor's ability to raise prices.
Raw material cost volatility can quickly erode a net margin of only 3.4 percent, leaving little room for error.
Risk Radar
Key Risks
Where downside pressure can build.
Margin compression: With a net margin of 3.4 percent, even a 1 percentage point decline could cut profits by nearly a third.
Earnings decline: Earnings per share fell 36.4 percent year over year, showing how sensitive profits are to cost and pricing shifts.
Low growth baseline: Five-year average revenue growth of 3.9 percent limits the cushion against industry disruption.
Sizing matters
Risks should be read as scenario inputs, not certainties. Position size and time horizon determine how much of this downside profile is acceptable.
Market Snapshot
Tactical context after the core long-term read.
- Price
- $43.28
- Daily move
- -0.94%
Peer Set
A compact peer list for side-by-side context.
- BALLBall Corporation$16.8B
- BBYBest Buy Co., Inc.$14.0B
- CGCASYCasey's General Stores, Inc.$24.6B
- DSDKSDICK'S Sporting Goods, Inc.$16.0B
- GPCGenuine Parts Company$16.1B
- IHIHGInterContinental Hotels Group PLC$19.9B
- IPInternational Paper Company$20.9B
- PKGPackaging Corporation of America$20.0B
+2 additional peers
Next Actions
Explore planning scenarios or keep browsing similar companies.