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No institutional (13F) filings cover this company, so the Overview and 13F tabs are thin. Everything drawn from its SEC filings is here.
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What the company returns to shareholders — and whether it's covered by cash.
The dividend takes 97% of free cash flow — sustainable but with limited headroom. Last year: $1.20B dividends + $1.0M buybacks = $1.20B returned on $1.23B FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 4%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $1.11B is below the $1.70B due within a year — relies on refinancing or operating cash flow. Scheduled principal only (excludes interest & revolver draws). As of 2026-06-30 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Coverage is adequate but not comfortable. Effective rate ~4.8% on $14.00B of debt.
Cash of $1.11B fully covers short-term debt of $135.0M.
Mostly short-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 3 positive fiscal years (FY2024, FY2025, FY2026). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $45.27 today, the market must believe free cash flow compounds 15.5%/yr for a decade (off $956.0M on the 3-yr avg basis).
On the basis ($893.0M) the requirement is 16.4%/yr. Shares issued to employees are added back in operating cash flow, so this basis treats them as free.
The market's 15.5% is more optimistic than its 9-yr track record.
Default is the published 10.0% — this company's own cost of capital could not be computed.
2-stage DCF · 0.46B shares (market data) · net debt $12.88B
mean 15.8% · volatility σ 45% · implied rate exceeded in 2/9 yrs
Central path = implied 15.5%/yr growth; shaded band = ±1σ (45%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
EOD close · as of 2026-10-21
How a revenue dollar becomes profit — FY2026
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it. This year they exceeded net income, so the ribbons are capped at earnings and understate what was actually returned.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $23.51B 100.0% | $15.01B 100.0% | $13.64B 100.0% | $14.69B 100.0% | $14.54B 100.0% | $12.86B 100.0% | $12.47B 100.0% | $9.46B 100.0% | $9.32B 100.0% | $9.10B 100.0% |
| Cost of Revenue | $18.82B 80.0% | $12.18B 81.1% | $10.93B 80.1% | $11.97B 81.5% | $11.72B 80.6% | $10.13B 78.8% | $9.93B 79.7% | $7.66B 81.0% | $7.46B 80.1% | $7.19B 79.0% |
| Gross Profit | $4.69B 20.0% | $2.83B 18.9% | $2.71B 19.9% | $2.73B 18.5% | $2.82B 19.4% | $2.73B 21.2% | $2.54B 20.3% | $1.80B 19.0% | $1.86B 19.9% | $1.91B 21.0% |
| Research & Development | $170.0M 0.7% | $120.0M 0.8% | $106.0M 0.8% | $101.0M 0.7% | $96.0M 0.7% | $100.0M 0.8% | $97.0M 0.8% | $64.0M 0.7% | $72.7M 0.8% | $69.1M 0.8% |
| Selling, General & Admin | $1.93B 8.2% | $1.21B 8.0% | $1.09B 8.0% | $1.09B 7.4% | $1.28B 8.8% | $1.29B 10.0% | $1.39B 11.1% | $999.0M 10.6% | $793.2M 8.5% | $850.2M 9.3% |
| Operating Income | $1.90B 8.1% | $1.01B 6.7% | $1.21B 8.9% | $1.51B 10.3% | $1.24B 8.5% | $1.32B 10.3% | $994.0M 8.0% | $792.0M 8.4% | $993.9M 10.7% | $916.1M 10.1% |
| Interest Expense | $676.0M 2.9% | $396.0M 2.6% | $348.0M 2.6% | $290.0M 2.0% | $159.0M 1.1% | $153.0M 1.2% | $207.0M 1.7% | $208.0M 2.2% | $210.0M 2.3% | $190.9M 2.1% |
| Interest & Investment Income | $66.0M 0.3% | $49.0M 0.3% | $38.0M 0.3% | $31.0M 0.2% | $24.0M 0.2% | $14.0M 0.1% | $22.0M 0.2% | $17.0M 0.2% | $13.1M 0.1% | $12.2M 0.1% |
| Other Income (Expense), net | -$7.0M -0.0% | -$12.0M -0.1% | $3.0M 0.0% | $2.0M 0.0% | $11.0M 0.1% | $11.0M 0.1% | $16.0M 0.1% | $3.5M 0.0% | -$74.1M -0.8% | -$21.6M -0.2% |
| Pretax Income | $1.28B 5.5% | $650.0M 4.3% | $907.0M 6.6% | $1.25B 8.5% | $1.11B 7.7% | $1.19B 9.3% | $825.0M 6.6% | $604.0M 6.4% | $722.9M 7.8% | $715.8M 7.9% |
| Income Tax Expense | $181.0M 0.8% | $135.0M 0.9% | $163.0M 1.2% | $193.0M 1.3% | $300.0M 2.1% | $261.0M 2.0% | $187.0M 1.5% | $172.0M 1.8% | $118.8M 1.3% | $148.9M 1.6% |
| Net Income | $1.11B 4.7% | $511.0M 3.4% | $730.0M 5.4% | $1.05B 7.1% | $805.0M 5.5% | $939.0M 7.3% | $612.0M 4.9% | $430.0M 4.5% | $575.2M 6.2% | $564.0M 6.2% |
| Per Share | ||||||||||
| EPS (Basic) | $2.39 | $1.60 | $2.53 | $0.71 | $0.53 | $0.60 | $0.38 | $0.36 | $0.50 | $0.49 |
| EPS (Diluted) | $2.38 | $1.60 | $2.52 | $0.70 | $0.53 | $0.60 | $0.38 | $0.36 | $0.49 | $0.48 |
| Weighted Avg Shares (Basic) | — | 1.59B | 1.45B | 1.48B | 1.51B | 1.55B | 1.60B | 1.18B | 1.16B | 1.15B |
| Weighted Avg Shares (Diluted) | 463.8M | 318.6M | 288.1M | 1.48B | 1.52B | 1.56B | 1.60B | 1.18B | 1.16B | 1.16B |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
EOD close · as of 2026-10-21
Where each multiple sits in its own 10-yr range
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 10-yr history.
Is the profit real, and how strong is the balance sheet?
FY2026 · every deduction from revenue to net income
DuPont — the three levers
ROE 9% against ROIC 4% — 5% of the return on equity comes from leverage and buybacks rather than from the operating business.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 1.6× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 81.0 | 79.7 | 78.8 | 80.6 | 81.5 | 80.1 | 81.1 | 80.0 |
| Gross Profit | 19.0 | 20.3 | 21.2 | 19.4 | 18.5 | 19.9 | 18.9 | 20.0 |
| R&D | 0.7 | 0.8 | 0.8 | 0.7 | 0.7 | 0.8 | 0.8 | 0.7 |
| SG&A | 10.6 | 11.1 | 10.0 | 8.8 | 7.4 | 8.0 | 8.0 | 8.2 |
| Operating Income | 8.4 | 8.0 | 10.3 | 8.5 | 10.3 | 8.9 | 6.7 | 8.1 |
| Income Tax | 1.8 | 1.5 | 2.0 | 2.1 | 1.3 | 1.2 | 0.9 | 0.8 |
| Net Income | 4.5 | 4.9 | 7.3 | 5.5 | 7.1 | 5.4 | 3.4 | 4.7 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on AMCR: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Cash conversion and accruals. The full answer — share-based compensation, the cash conversion waterfall, working-capital trend — is still being built, so this block states what it measures rather than issuing a verdict.
One year is not a trend. The spec asks for a 3- and 5-year average of FCF/net income precisely because a single year turns on working-capital timing, and that arrives with the full Q2 block.