O-I Glass Inc
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Why this colour
Whoever buys today is betting that the Fit to Win savings overtake the special charges and that shipment volumes stabilize before roughly $3.2 billion of debt comes up for refinancing from 2027 — and the leverage of the thin equity layer then works in both directions. Whoever waits may miss the bottom but gets two simple markers to watch in the coming quarterly reports: shipment tons and Europe segment profit. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
O-I Glass is no longer an asbestos case — that legacy was resolved with a court seal in 2022 — and no acute bankruptcy candidate: the cash position holds $759 million, the Altman Z-score sits around 4, and the turnaround demonstrably delivers in the Americas. But the company earns 62 percent of its segment sales selling thirst in glass form while the world drinks less: a third straight annual loss, Europe segment profit at zero in the first quarter of 2026, the only technology bet (MAGMA) scrapped — and $5.0 billion of debt in front of a maturity wall that begins in 2027. Optically dirt cheap (P/S 0.22); including debt, fairly priced for a leveraged overhaul against the demand trend. Not investment advice.
Market position & business model
One of the leading glass container makers in the world, number one in most of its 18 manufacturing countries, 64 plants, customers like Anheuser-Busch InBev, Brown-Forman and Campari; the segment business still earned $846 million in 2025 (annual report 10-K for 2025).
Demand & volumes
Shipments in tons down about 4 percent in 2024 and 3 percent in 2025, and in Q1 2026 down 9 percent in the Americas and 7 percent in Europe; the company explicitly names "lower alcohol consumption" as a business risk, and about 62 percent of segment net sales hang on beer, wine and spirits; Europe segment profit at zero in Q1 2026.
Fit to Win & the MAGMA halt
The turnaround delivers measurably (Americas segment profit up 40 percent to $549 million in 2025; target: at least $750 million of cumulative benefits through 2027), but cost a cumulative $646 million through the end of 2025 — and with the MAGMA halt ($104 million of charges in Q2 2025) the only technology bet was scrapped; research spending is expected to "significantly decline."
Balance sheet & debt
About $5.0 billion of debt against $1,294 million of equity (December 31, 2025), $341 million of net interest expense in 2025 against roughly $168 million of free cash flow, about 30 percent at variable rates; maturities of roughly $3.2 billion combined between 2027 and 2030; the dividend has been suspended since 2020.
Asbestos legacy
Finally resolved: the Chapter 11 plan of subsidiary Paddock Enterprises has been effective since July 8, 2022, the trust is funded with $610 million, and a section 524(g) injunction permanently channels all current and future asbestos personal injury claims to the trust (10-K 2024, Note 15) — in the 10-K for 2025, asbestos is no longer a risk topic.
Valuation & ownership signals
A price-to-sales ratio of 0.22 and 3.0 times operating cash flow meet a stage-4 downtrend, minus 84 percent from the all-time high and a Piotroski score of 3 of 9; including debt, the company costs roughly 33 times its 2025 free cash flow. Against that: two insider purchases without a sale (among them the CEO), 13 institutions adding, an analyst consensus of 1.3 — with earnings estimates cut by a good 20 percent within four weeks (data as of July 8, 2026).
Worth Noting
OI reached our research list via the Reddit hype scanner (ApeWisdom, 5 mentions in 24 hours, as of July 15, 2026); attention waves of this kind are snapshots, not a quality verdict. The 11 hits in our in-house stock scanner carry the July 8, 2026 data cut-off and rotate daily.
Scanner metrics (P/S, P/CF, Piotroski, Altman Z, trend stages) are computed from trailing twelve-month figures; the Q1 2026 developments (Europe segment profit at zero, falling volumes) show up in them only with a lag.
Valuation figures are dated to July 8, 2026 (market value roughly $1.4 billion); analyses are evergreen, daily prices are not a buy argument.
Stock Watch
This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at OI since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 6.20 $ to 16.60 $ · Last price: 6.20 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Packaging & Containers
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| O-I Glass Inc OI | 0.9 | – | 8.6 | 14.8 | 5.7 | -1.6 | -50.8 |
| Smurfit WestRock plc SW | 24.4 | 64.7 | 8.5 | 18.2 | 6.8 | 53.0 | 7.7 |
| Packaging Corp of America PKG | 21.0 | 29.1 | 13.6 | 21.4 | 13.5 | 7.2 | 13.9 |
| Amcor PLC AMCR | 19.6 | 34.8 | 9.7 | 20.0 | 8.6 | 10.0 | 8.6 |
| International Paper IP | 18.9 | – | 330.5 | 29.6 | 3.7 | 33.7 | -20.5 |
| Ball Corporation BALL | 16.2 | 17.8 | 10.8 | 18.6 | 9.4 | 11.6 | 25.6 |
| Avery Dennison Corp AVY | 13.1 | 19.8 | 11.3 | 29.0 | 12.6 | 1.1 | 6.1 |
| Crown Holdings Inc CCK | 12.1 | 17.9 | 8.5 | 21.0 | 11.1 | 4.8 | 17.8 |
| Sonoco Products Company SON | 4.8 | 8.2 | 6.1 | 20.8 | 8.7 | 41.7 | 7.5 |
| Median of companies shown | 16.2 | 19.8 | 9.7 | 20.8 | 8.7 | 10.0 | 7.7 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 6,702 | 605 | 209 | 1.28 | 751 | 363 | 9,135 |
| 2017 | 6,869 | 530 | 180 | 1.09 | 721 | 927 | 9,756 |
| 2018 | 6,877 | 709 | 257 | 1.59 | 791 | 900 | 9,699 |
| 2019 | 6,691 | 663 | -400 | -2.58 | 405 | 467 | 9,610 |
| 2020 | 6,091 | 618 | 249 | 1.57 | 457 | 297 | 8,882 |
| 2021 | 6,357 | 539 | 149 | 0.93 | 687 | 720 | 8,832 |
| 2022 | 6,856 | 585 | 584 | 3.67 | 154 | 1,417 | 9,061 |
| 2023 | 7,105 | 864 | 219 | 1.42 | 818 | 1,609 | 9,669 |
| 2024 | 6,531 | 520 | -106 | -0.69 | 489 | 1,079 | 8,654 |
| 2025 | 6,426 | 633 | -129 | -0.84 | 600 | 1,294 | 9,243 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | -1.00 | – | 1,529 | -6.80 | -10.10 | 318 | 210 |
| 2025: Q1 | -0.10 | -122.90 | 1,567 | -1.60 | -1.00 | -171 | -306 |
| 2025: Q2 | -0.03 | -109.00 | 1,706 | -1.30 | -0.30 | 155 | 51 |
| 2025: Q3 | 0.19 | – | 1,653 | -1.50 | 1.80 | 214 | 114 |
| 2025: Q4 | -0.90 | – | 1,500 | -1.90 | -9.20 | 402 | 309 |
| 2026: Q1 | -0.48 | – | 1,540 | -1.70 | -4.70 | -294 | -436 |
| 2026: Q2 | -6.33 | -21,000.00 | 1,668 | -2.20 | -58.30 | 94 | -1 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 10 of our scanner strategies — each hit links to the scanner.
Quality & Balance Sheet
- CEO Buys
- Insider Buying (Net)
- Institutional + Insiders Building Positions
- Institutions + CEO Buying
- Pros 80%
Research
Risk & Weakness
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. Scanners marked in red are red-flag signals (risk/short scanners) — appearing there is not a seal of approval. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 0.57 | 0.20 – 0.74 | 6,409 | -64.2% | 9 |
| 12/31/2027 | 1.51 | 1.25 – 1.95 | 6,555 | 162.9% | 9 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Free cash flow over the past twelve months is negative, which rules out a serious reverse calculation. Any growth rate only makes a negative cash flow more negative; no present value comes out of it. What the price reflects here is therefore not a stream of cash flows, but the expectation that there will be one at all.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
O-I Glass belegt im Geschäftsbericht 10-K für 2025 eigene Anstrengungen, KI-Technologien zur Verbesserung von Geschäftsabläufen, IT-Systemen, Produkten und Services zu entwickeln und einzusetzen — KI ist aber keine Umsatzquelle: Der Konzern verkauft Glasbehälter, nicht Algorithmen. Der eigene KI-Risikoabsatz (Item 1A) behandelt Kosten, Haftung und den möglichen KI-Vorsprung von Wettbewerbern, benennt KI jedoch nicht als konkretes Risiko für das Glas-Geschäftsmodell selbst.
View the full file — quotes, sources, reviewed filings
„The Company is engaged in efforts to develop and deploy artificial intelligence technologies to improve the Company’s business operations, information systems, products, services and features."
Das Unternehmen unternimmt Anstrengungen, Technologien der künstlichen Intelligenz zu entwickeln und einzusetzen, um die Geschäftsabläufe, Informationssysteme, Produkte, Dienstleistungen und Funktionen des Unternehmens zu verbessern.
10-K · 2026-02-12 · View SEC filing
„There is also no guarantee that the Company’s development or use of artificial intelligence will enhance its technologies or benefit its business operations, or produce or enhance products and services that are preferred by its customers."
Es gibt auch keine Garantie, dass die Entwicklung oder Nutzung künstlicher Intelligenz durch das Unternehmen seine Technologien verbessert oder seinen Geschäftsabläufen nützt oder Produkte und Dienstleistungen hervorbringt oder verbessert, die von seinen Kunden bevorzugt werden.
10-K · 2026-02-12 · View SEC filing
„The Company’s competitors may be more successful in incorporating artificial intelligence into their products and services or developing superior products and services with the aid of artificial intelligence technologies, which could impair the Company’s ability to compete effectively and adversely affect its results of operations."
Die Wettbewerber des Unternehmens könnten erfolgreicher darin sein, künstliche Intelligenz in ihre Produkte und Dienstleistungen zu integrieren oder mithilfe von KI-Technologien überlegene Produkte und Dienstleistungen zu entwickeln, was die Wettbewerbsfähigkeit des Unternehmens beeinträchtigen und sich nachteilig auf sein Betriebsergebnis auswirken könnte.
10-K · 2026-02-12 · View SEC filing
Filings Reviewed: 10-Q 2026-04-29 · 10-Q 2025-11-05 · 10-Q 2025-07-30 · 10-Q 2025-04-30 · 10-K 2026-02-12 · 10-K 2025-02-12
Rated on July 15, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years -2.1%
- More than 10% revenue growth is expected for the coming year 2.0%
- Share count grows by less than 3% a year -1.2%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 1.0%
- Gross margin at 40% or higher and without meaningful erosion 17.3%
- Goodwill from acquisitions does not grow faster than revenue 16.1%
- Net debt below twice EBITDA 5.4 x EBITDA
- Operating cash flow covers the profits of the last three years 1,923 m
- Return on capital at 15% or higher, or up versus two years ago 8.9%
- Insiders hold at least 10% or are net buyers 1.3%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
3/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% -0.5%
- Exp. sales growth 3Y > 5% 1.0%
- EBIT growth 10Y > 5% 0.5%
- Exp. EBIT growth 3Y > 5% 1.0%
- Net debt < 4x EBIT 6.7x
- EBIT positive, 10Y straight 10
- Max. EBIT decline < 50% 39.8%
- Return on equity > 15% –
- ROCE > 15% 8.8%
- Expected return > 10% 18.9%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
The company
About the Company
O-I Glass, Inc. stellt über seine Tochtergesellschaften Glasbehälter für Lebensmittel- und Getränkehersteller in Amerika, Europa und international her und verkauft sie.
- CEO Insider Trades (12 Mo.)
- buying own stock
- Employees
- 19,000
- Headquarters
- Perrysburg, OH
- Address
- One Michael Owens Way, 43551 Perrysburg, United States
- Phone
- 567 336 5000
- Website
- o-i.com
- IPO Date
- 12/11/1991
- ISIN
- US67098H1041
Management
| Name | Title | Birth Year |
|---|---|---|
| Gordon J. Hardie B.A., M.B.A. | CEO, President & Director | 1964 |
| John A. Haudrich | Senior VP & CFO | 1968 |
| Darrow A. Abrahams | Senior VP, General Counsel & Corporate Secretary | 1974 |
| Eduardo Restrepo | Senior Vice President of Business Operations Americas | 1982 |
| Emmanuelle Guerin | Non Executive Officer (garden leave) | 1974 |
| James Dalton | Senior VP, Chief Human Resources & Technology Officer | 1975 |
| Randolph Burns | Senior VP, Chief Administrative & Sustainability Officer | 1969 |
| Christopher David Manuel | Vice President of Investor Relations | – |
| Donato Giorgio M.Sc. | Senior VP & Chief Supply Officer | 1973 |
| Meena Dafesh | Vice President & Global Treasurer | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 07/28/2026 O-I Glass, Inc. /DE/ (OI): Results of Operations and Financial Condition; Financial Statements and Exhibits SEC ↗
- 07/10/2026 O-I Glass, Inc. /DE/ (OI): Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers SEC ↗
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.