O-I Glass, Inc. /DE/ financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data O-I Glass, Inc. /DE/ files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	6,702	6,869	6,877	6,691	6,091	6,357	6,856	7,105	6,531	6,426
Cost of revenue	5,490	5,536	5,594	5,483	5,119	5,266	5,643	5,609	5,486	5,317
Gross profit	1,310	1,333	1,283	1,208	972	1,091	1,213	1,496	1,045	1,109
Research and development	65	60	70	68	75	82	79	92	80	42
Selling, general and administrative	503	484	483	439	403	433	496	540	445	434
Operating income					353	332	805	67	38
Interest expense	272	268	261	311	265	216	239	342	335	341
Other non-operating income	14	7	41	-4	-9	3	-6	-10	-3	3
Pre-tax income	356	275	277	-261	353	332	960	67	38	-49
Income tax	119	70	108	118	89	167	178	152	126	54
Income from continuing operations	216	183	144	-397	249	142	584	-103
Net income to minority interests	21	22	25	18	15	23	43	18	18	26
Net income	209	180	257	-400	249	149	584	-103	-106	-129
EBITDA					821	781	1,259	550	524
EPS, basic	1.29	1.11	1.61	-2.58	1.59	0.95	3.76	-0.67	-0.69	-0.84
EPS, diluted	1.28	1.10	1.59	-2.58	1.57	0.93	3.67	-0.67	-0.69	-0.84
Shares, basic (weighted)	162	163	160	155	157	157	155	155	155	154
Shares, diluted (weighted)	163	165	162	155	159	160	159	155	155	154
Dividend per share			0.05	0.15	0.05

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	492	492	512	551	563	725	773	913	734	759
Receivables	580	663	549	621	623	692	760	671	572	601
Inventory	983	1,036	1,018	1,045	841	816	848	1,071	963	1,002
Other current assets	199	229	278	271	270	237	222	229	209	239
Total current assets	2,254	2,420	2,357	2,488	2,297	2,519	2,603	2,884	2,478	2,601
Property, plant and equipment	2,880	3,131	3,085	3,273	2,907	2,817	2,962	3,555	3,296	3,447
Lease right-of-use assets				203	138	116	225	220	201	186
Goodwill	2,462	2,590	2,513	1,934	1,951	1,840	1,813	1,473	1,321	1,487
Intangible assets	464	439	400	371	325	286	262	254	198	188
Other non-current assets	602	602	602	808	662	577	666	694	608	1,520
Total assets	9,135	9,756	9,699	9,610	8,882	8,832	9,061	9,669	8,654	9,243
Accounts payable	1,135	1,324	1,321	1,276	1,126	1,210	1,355	1,437	1,142	1,201
Accrued liabilities	383	378	375
Short-term debt	195	162	160	124	197	72	345	248	416	162
Total current liabilities	2,060	2,280	2,207	1,995	1,898	1,846	2,357	2,346	2,160	2,089
Long-term debt	5,133	5,121	5,181	5,435	4,945	4,753	4,371	4,698	4,553	4,837
Lease liabilities				138	93	78	189	184	169	151
Other non-current liabilities	188	209	194	357	424	289	433	480	407	872
Total liabilities	8,772	8,829	8,799	9,046	8,481	8,005	7,533	7,925	7,449	7,798
Total debt	5,166	5,132	5,214	5,484	5,087	4,791	4,671	4,840	4,859	4,903
Paid-in capital	3,080	3,099	3,124	3,130	3,129	3,090	3,079	3,086	3,053	3,031
Retained earnings	-96	84	333	-89	152	301	885	782	676	548
Treasury stock	-560	-551	-705	-733	-714	-701	-688	-681	-677	-667
Other comprehensive income	-2,172	-1,826	-1,968	-1,843	-2,272	-1,972	-1,861	-1,580	-1,975	-1,620
Shareholders' equity	254	808	786	467	297	720	1,417	1,609	1,079	1,294
Minority interests	109	119	114	97	104	107	111	135	126	151
Total equity	363	927	900	564	401	827	1,528	1,744	1,205	1,445
Total liabilities and equity	9,135	9,756	9,699	9,610	8,882	8,832	9,061	9,669	8,654	9,243

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	230	202	282	-382	264	172	627	-85	-88	-103
Depreciation and amortization	478	488	494	499	468	449	454	483	486	479
Stock-based compensation	11	18	27	10	11	8	33	43	14	25
Deferred income tax	-4	-12	-9	7	-5	5	22	25	7	-65
Change in receivables	-32	-173	-103	13	-29	-191	-137	144	21	61
Change in inventory	16	2	-29	-26	75	-32	-61	-174	35	41
Change in payables	-58	69	67	-62	-67	161	146	-102	-95	-45
Cash from operations	751	721	791	405	457	687	154	818	489	600
Capital expenditures	-454	-441	-536	-426	-311	-398	-539	-688	-617	-432
Acquisitions	-56	-39	-123	-190
Cash from investing	-417	-351	-698	-437	93	-220	-97	-683	-620	-368
Debt issued	1,235	1,458	2,511	4,265	1,845	1,021	2,852	1,332	1,102	2,526
Debt repaid	-1,453	-1,764	-2,353	-4,099	-2,460	-1,188	-2,897	-1,298	-1,043	-2,643
Share buybacks			-163	-38		-40	-40	-40	-40	-40
Dividends paid				-31	-8
Cash from financing	-228	-392	-53	68	-557	-273	6	-27	-8	-250
Exchange rate effect	-13	22	-20	3	19	-29
Net change in cash	93		20	39	12	165	48	140	-179	25
Free cash flow	297	280	255	-21	146	289	-385	130	-128	168
Interest paid	261	261	236	303	252	209	234	301	344	328
Income taxes paid	99	131	108	103	91	111	171	147	161	117

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $5.86 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	14.8%	Gross profit / revenue.
Pre-tax margin	-2.7%	Pre-tax income / revenue.
Net margin	-18.1%	Net income / revenue.
FCF margin	-0.2%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	6.5%	Cash from operations / revenue.
Return on assets (ROA)	-14.3%	Net income / average total assets.
R&D / revenue	0.6%	Research and development expense / revenue.
SG&A / revenue	6.2%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.3%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	6.8%	Capital expenditures / revenue.
D&A / revenue	7.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-1.6%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-2.1%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	1.1%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	6.1%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-2.9%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	2.7%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	22.7%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	57.4%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	5.6%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	2.8%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	19.9%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-3.0%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	34.2%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	6.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	0.7%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	0.8%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-0.6%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-1.2%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-0.7%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.26x	Current assets / current liabilities.
Quick ratio	0.63x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.17x	(Cash + short-term investments) / current liabilities.
Debt / assets	60.0%	Total debt / total assets.
Liabilities / assets	93.3%	Total liabilities / total assets.
Net debt	$4.52B	Total debt - cash - short-term investments. Negative means more cash than debt.
Working capital	$507.0M	Current assets - current liabilities.
Goodwill and intangibles / assets	9.7%	(Goodwill + intangible assets) / total assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.79x	Revenue / average total assets.
Fixed asset turnover	1.84x	Revenue / average property, plant and equipment.
Inventory turnover	5.72x	Cost of revenue / average inventory.
Days inventory	64 days	365 x average inventory / cost of revenue.
Receivables turnover	7.20x	Revenue / average receivables.
Days sales outstanding	51 days	365 x average receivables / revenue.
Days payables	73 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	41 days	Days inventory + days sales outstanding - days payables.
Capex / operating cash flow	103.4%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$7.51	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$41.44	Revenue / diluted weighted shares.
FCF per share	-$0.09	Free cash flow / diluted weighted shares.
Operating cash flow per share	$2.71	Cash from operations / diluted weighted shares.
Cash per share	$2.21	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$900.4M	Share price x shares outstanding.
Enterprise value	$5.42B	Market cap + total debt - cash - short-term investments.
P/S	0.14x	Market cap / revenue.
P/OCF	2.16x	Market cap / cash from operations, when positive.
EV/Sales	0.85x	Enterprise value / revenue.
FCF yield	-1.6%	Free cash flow / market cap.
Earnings yield	-128.0%	Net income / market cap (the inverse of P/E).
Shareholder yield	3.3%	(Dividends paid + share buybacks) / market cap.

What was O-I Glass, Inc. /DE/'s revenue in fiscal 2025?

O-I Glass, Inc. /DE/ reported revenue of $6.43B for fiscal 2025, 1.6% lower than the year before.

Was O-I Glass, Inc. /DE/ profitable in fiscal 2025?

No. It reported a net loss of $129.0M.

How much free cash flow did O-I Glass, Inc. /DE/ generate in fiscal 2025?

Cash from operations of $600.0M minus capital expenditures of $432.0M left free cash flow of $168.0M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

Open interactive statements, quarterly figures and charts

Back to O-I Glass, Inc. /DE/