At a glance
Amcor PLC is worth $22.66B, about 21 times its fiscal 2026 earnings. Revenue grew 56.6% to $23.51B in fiscal 2026, with 4.7% kept as profit; over 5 years it has grown 12.8% a year. It pays a 5.3% dividend yield, raised every year for at least 6 years, and returned $5.28B to shareholders in dividends and buybacks over FY2022–FY2026. The stock returned +31.7% over the past year with dividends reinvested and +0.9% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 41.3% in the 2020 crash (S&P 500: 33.7%) and 20.7% in the 2022 bear market (S&P 500: 24.5%).
The business in plain English
Amcor makes packaging. Its customers are companies that sell products to consumers, and Amcor's sales are closely tied to how much those customers sell. No single customer accounts for more than 10% of net sales, though some Amcor businesses depend more heavily on a few large buyers. In the fiscal year ended June 30, 2026, gross margin was about 20%. That means Amcor kept about 20 cents of each sales dollar after the direct costs of making its products. After overhead, operating margin was 8.1%, and net income was about $1.1 billion.
Revenue that year was about $23.5 billion, up 56.6%. Amcor's annual report describes ongoing integration work following its combination with Berry. The company is organized into two divisions. Global Flexible Packaging Solutions brought in about $12.8 billion, or 54.6% of revenue. Global Rigid Packaging Solutions brought in about $10.7 billion, or 45.4%. Flexible packaging generally means bendable formats such as films and pouches. Rigid packaging means firmer containers such as bottles and jars.
By region, North America supplied 49.9% of revenue, Europe 33.4%, Asia Pacific 8.8% and Latin America 8%. Amcor employed about 75,000 people worldwide as of June 30, 2026, and its shares trade on the New York Stock Exchange.
Price history
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AMCR +31.7% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Global Flexible Packaging Solutions | $12.83B | 54.6% |
| Global Rigid Packaging Solutions | $10.68B | 45.4% |
By geography
| North America | $11.72B | 49.9% |
| Europe | $7.84B | 33.4% |
| Asia Pacific | $2.06B | 8.8% |
| Latin America | $1.88B | 8% |
Latest results
- In Q4 FY2026 (ended Jun 30, 2026), revenue was $6.40B, up 25.9% from a year earlier, and net income was $389.0M.
- For fiscal 2026, revenue was $23.51B (+56.6% year over year; +12.8% a year from FY2021 to FY2026) with a 4.7% net margin.
Financial health check
| Revenue growth a year (FY2021–FY2026) | +12.8% good |
|---|---|
| Operating margin | 8.1% watch |
| Free cash flow margin | 5.2% watch |
| Return on equity (FY2026) | 9.4% watch |
| Return on assets (FY2026) | 3% watch |
| Net cash (cash minus debt) | $-12.76B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $12.86B | $939.0M | $993.0M |
| FY2022 | $14.54B | $805.0M | $999.0M |
| FY2023 | $14.69B | $1.05B | $735.0M |
| FY2024 | $13.64B | $730.0M | $829.0M |
| FY2025 | $15.01B | $511.0M | $810.0M |
| FY2026 | $23.51B | $1.11B | $1.23B |
Valuation snapshot
| Market value | $22.66B |
|---|---|
| P/E ratio | 20.6 |
| Dividend yield | 5.3% |
Rank among 1514 US companies
Market value at each year end
Amcor’s market value went from $17.56B at the end of 2019 to $22.66B on Nov 2, 2026, up 29%; since the end of 2025 it is up 18%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $22.66B | +17.7% |
| 2025 | $19.25B | +41.5% |
| 2024 | $13.60B | -2.4% |
| 2023 | $13.93B | -21.4% |
| 2022 | $17.73B | -3.7% |
| 2021 | $18.41B | -0.3% |
| 2020 | $18.46B | +5.1% |
| 2019 | $17.56B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| AMCR price data to Nov 2, 2026 | +22.8% | +31.7% | +9.6% | +0.9% | — |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +22.8% |
| 2025 | -6.1% |
| 2024 | +2.8% |
| 2023 | -15.0% |
| 2022 | +3.1% |
| 2021 | +6.3% |
| 2020 | +13.6% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 34.2% over that stretch · deepest drop along the way 41.3%, back to its old high 2.4 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 8.2% over that stretch · deepest drop along the way 20.7%, not recovered by the end of the data |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 1 open-market purchases ($1.0M) and 2 sales ($86K).
| Date | Insider | Type | Value |
|---|---|---|---|
| Dec 11, 2025 | Stephen R. Scherger Executive VP, Finance & CFO | buy | $1.0M |
| Dec 3, 2025 | Susan K Carter Director | sell | $51K |
| Dec 3, 2025 | Jill A Rahman Director | sell | $35K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 6.7% | Jun 30, 2025 |
| STATE STREET CORPORATION | 6.3% | Mar 31, 2026 |
| M&G Plc on behalf of certain subsidiaries | 5.45% | Mar 31, 2026 |
ETFs with the most weight in AMCR
| CUT Invesco MSCI Global Timber ETF | 5.14% |
| RSPM Invesco S&P 500 Equal Weight Materials ETF | 3.86% |
| MDPL Monarch Dividend Plus ETF | 3.21% |
| PID Invesco International Dividend Achievers™ ETF | 2.98% |
| SNPD Xtrackers S&P Dividend Aristocrats Screened ETF | 2.3% |
| SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 2.23% |
| SPDV AAM S&P 500 High Dividend Value ETF | 1.98% |
| LQAI LG QRAFT AI-Powered U.S. Large Cap Core ETF | 1.86% |
What could go wrong
- Push to cut packaging waste and petrochemicals. Growing pressure to reduce packaging waste and petrochemical materials could shrink demand for some Amcor products or make parts of its lineup obsolete, unless new or substitute products make up the difference.
- Integrating the Berry combination. Amcor's annual report describes ongoing work to align structures, leadership teams and people practices after combining with Berry. Mergers this large can distract management, cost more than planned or fall short of expected benefits.
- Losing or consolidating key customers. No customer makes up more than 10% of net sales, but some Amcor businesses rely more on a few buyers. Losing one, or customers merging and demanding better terms, could cut sales and profit.
- Heavy debt load. As of June 30, 2026, Amcor had about $13.9 billion of debt against $1.1 billion of cash and investments. Interest costs and repayment needs could limit flexibility, including for dividends, if profits weaken.
- Union contracts up for renewal. At June 30, 2026, about 37% of Amcor's workers were covered by union agreements. About 19% were on deals expiring within a year and 2% on expired ones, which could mean higher costs or strikes.
- Demand tied to customers' sales. Amcor's sales track how much its customers sell to end consumers. A weak economy, taxes on end users or shifts in preferences toward different packaging formats could reduce orders.
Recent events
- Change of auditor
- Quarterly results released
- Executive or board change
- Bylaws or fiscal year changed
- Quarterly results released
- Major agreement signed; New debt or financial obligation; Other company announcement
- Quarterly results released
- Change to shareholder rights; Bylaws or fiscal year changed
- Other company announcement
- Major agreement signed; New debt or financial obligation; Other company announcement
For income and retirement investors
Amcor has raised its regular dividend six years in a row. Per-share dividends grew from $2.34 in fiscal 2021 to $2.59 in fiscal 2026 (years ending June 30), about 2.1% a year. These figures reflect a 1-for-5 reverse stock split in early 2026, in which five shares became one. The yield was 5.69% as of October 28, 2026. The cushion was thin: fiscal 2026 dividends equaled 108% of earnings and 97% of free cash flow, which is the cash left after running and investing in the business. Buybacks totaled about $1.1 billion over fiscal 2022–2026 but were minimal from fiscal 2024 on. The share count rose about 50% over five years.
In the 2020 COVID crash the stock fell 41% but recovered in about 2.4 months. In the 2022 market slump it fell 21% from its June 2022 peak and had not regained that level as of October 28, 2026. A single stock carries more risk than a diversified fund.
Questions investors ask
How does Amcor make money?
Amcor sells packaging to companies whose products end up with consumers, so its sales rise and fall with those customers' volumes. In the fiscal year ended June 30, 2026, revenue was about $23.5 billion. Global Flexible Packaging Solutions supplied 54.6% of that and Global Rigid Packaging Solutions 45.4%. North America accounted for 49.9% of revenue and Europe 33.4%. Operating margin, the share of sales kept as profit after running costs, was 8.1%. Net income was about $1.1 billion.
Does Amcor raise its dividend every year?
Amcor has raised its regular dividend six years in a row, though by small amounts. Dividends per share rose from $2.34 in fiscal 2021 to $2.59 in fiscal 2026, about 2.1% a year, after adjusting for a 1-for-5 reverse stock split in early 2026. Over fiscal 2022–2026 it paid about $4.2 billion in dividends. The yield was 5.69% as of October 28, 2026.
Is Amcor's dividend safe?
Based on fiscal 2026 results, the dividend has little cushion. Amcor paid about $1.2 billion in dividends, equal to 108% of net income and 97% of free cash flow, which is the cash left after running and investing in the business. Debt was also high: about $13.9 billion against $1.1 billion of cash and investments as of June 30, 2026. A payout near or above 100% leaves little room if profits fall, although the dividend has risen six years in a row.
Did Amcor merge with Berry?
Yes. Amcor's annual report for the year ended June 30, 2026, describes ongoing work to integrate its combination with Berry, including aligning organizational structures, leadership teams and people practices. The combined company employed about 75,000 people at that date. Revenue rose 56.6% to about $23.5 billion that year, and the share count grew about 50% between August 2021 and August 2026. Jean-Marc Galvez, formerly president of a Berry consumer packaging division, has led Amcor's Global Rigid Packaging Solutions division since 2025.
How has Amcor stock performed?
Unevenly. As of October 28, 2026, Amcor stock had returned 16% over one year and 14.4% year to date. Longer periods look weaker: about 7.6% a year over three years and a loss of about 0.7% a year over five. It fell 15% in calendar 2023 and 6.1% in 2025. Its deepest drop in about 7.4 years of price history was 47.2%. Its one-year beta, a gauge of how much a stock moves with the market, was 0.71, meaning it tended to move less than the market.