Intrinsic value of Ball - BLL

Previous Close

$50.38

  Intrinsic Value

$41.56

stock screener

  Rating & Target

hold

-17%

Previous close

$50.38

 
Intrinsic value

$41.56

 
Up/down potential

-17%

 
Rating

hold

We calculate the intrinsic value of BLL stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 17.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  8.60
  8.24
  7.92
  7.62
  7.36
  7.13
  6.91
  6.72
  6.55
  6.39
  6.26
  6.13
  6.02
  5.92
  5.82
  5.74
  5.67
  5.60
  5.54
  5.49
  5.44
  5.39
  5.35
  5.32
  5.29
  5.26
  5.23
  5.21
  5.19
  5.17
Revenue, $m
  11,928
  12,910
  13,932
  14,995
  16,099
  17,246
  18,438
  19,677
  20,966
  22,307
  23,702
  25,155
  26,668
  28,246
  29,891
  31,607
  33,398
  35,269
  37,223
  39,265
  41,400
  43,633
  45,969
  48,414
  50,974
  53,655
  56,462
  59,403
  62,485
  65,716
Variable operating expenses, $m
  9,765
  10,508
  11,282
  12,085
  12,921
  13,789
  14,691
  15,629
  16,604
  17,618
  17,935
  19,034
  20,179
  21,373
  22,617
  23,916
  25,271
  26,687
  28,165
  29,710
  31,326
  33,016
  34,783
  36,634
  38,570
  40,599
  42,723
  44,949
  47,281
  49,725
Fixed operating expenses, $m
  1,186
  1,212
  1,238
  1,265
  1,293
  1,322
  1,351
  1,381
  1,411
  1,442
  1,474
  1,506
  1,539
  1,573
  1,608
  1,643
  1,679
  1,716
  1,754
  1,793
  1,832
  1,872
  1,914
  1,956
  1,999
  2,043
  2,088
  2,133
  2,180
  2,228
Total operating expenses, $m
  10,951
  11,720
  12,520
  13,350
  14,214
  15,111
  16,042
  17,010
  18,015
  19,060
  19,409
  20,540
  21,718
  22,946
  24,225
  25,559
  26,950
  28,403
  29,919
  31,503
  33,158
  34,888
  36,697
  38,590
  40,569
  42,642
  44,811
  47,082
  49,461
  51,953
Operating income, $m
  977
  1,190
  1,412
  1,644
  1,884
  2,135
  2,396
  2,668
  2,951
  3,246
  4,294
  4,615
  4,950
  5,300
  5,666
  6,048
  6,448
  6,866
  7,303
  7,762
  8,242
  8,745
  9,272
  9,825
  10,405
  11,013
  11,651
  12,321
  13,024
  13,762
EBITDA, $m
  2,264
  2,522
  2,791
  3,070
  3,362
  3,665
  3,981
  4,309
  4,652
  5,008
  5,380
  5,768
  6,172
  6,595
  7,036
  7,497
  7,978
  8,482
  9,010
  9,562
  10,140
  10,745
  11,379
  12,044
  12,742
  13,473
  14,240
  15,044
  15,889
  16,775
Interest expense (income), $m
  190
  376
  437
  501
  567
  636
  708
  783
  860
  941
  1,024
  1,111
  1,202
  1,296
  1,395
  1,497
  1,604
  1,716
  1,832
  1,953
  2,080
  2,213
  2,352
  2,497
  2,649
  2,808
  2,974
  3,148
  3,330
  3,521
  3,722
Earnings before tax, $m
  601
  753
  912
  1,076
  1,248
  1,427
  1,614
  1,808
  2,011
  2,222
  3,182
  3,413
  3,654
  3,905
  4,168
  4,444
  4,732
  5,034
  5,350
  5,681
  6,029
  6,393
  6,775
  7,176
  7,597
  8,039
  8,503
  8,991
  9,503
  10,041
Tax expense, $m
  162
  203
  246
  291
  337
  385
  436
  488
  543
  600
  859
  921
  986
  1,054
  1,125
  1,200
  1,278
  1,359
  1,444
  1,534
  1,628
  1,726
  1,829
  1,938
  2,051
  2,171
  2,296
  2,428
  2,566
  2,711
Net income, $m
  439
  550
  665
  786
  911
  1,042
  1,178
  1,320
  1,468
  1,622
  2,323
  2,491
  2,667
  2,851
  3,043
  3,244
  3,454
  3,675
  3,905
  4,147
  4,401
  4,667
  4,946
  5,239
  5,546
  5,869
  6,208
  6,563
  6,937
  7,330

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  18,637
  20,172
  21,769
  23,429
  25,154
  26,946
  28,809
  30,746
  32,759
  34,854
  37,035
  39,305
  41,670
  44,134
  46,704
  49,386
  52,185
  55,107
  58,160
  61,351
  64,687
  68,176
  71,827
  75,647
  79,647
  83,835
  88,222
  92,818
  97,633
  102,681
Adjusted assets (=assets-cash), $m
  18,637
  20,172
  21,769
  23,429
  25,154
  26,946
  28,809
  30,746
  32,759
  34,854
  37,035
  39,305
  41,670
  44,134
  46,704
  49,386
  52,185
  55,107
  58,160
  61,351
  64,687
  68,176
  71,827
  75,647
  79,647
  83,835
  88,222
  92,818
  97,633
  102,681
Revenue / Adjusted assets
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
  0.640
Average production assets, $m
  8,803
  9,528
  10,282
  11,066
  11,881
  12,727
  13,607
  14,522
  15,473
  16,462
  17,492
  18,564
  19,681
  20,846
  22,059
  23,326
  24,648
  26,028
  27,470
  28,977
  30,553
  32,201
  33,925
  35,730
  37,619
  39,597
  41,669
  43,840
  46,114
  48,498
Working capital, $m
  -370
  -400
  -432
  -465
  -499
  -535
  -572
  -610
  -650
  -692
  -735
  -780
  -827
  -876
  -927
  -980
  -1,035
  -1,093
  -1,154
  -1,217
  -1,283
  -1,353
  -1,425
  -1,501
  -1,580
  -1,663
  -1,750
  -1,842
  -1,937
  -2,037
Total debt, $m
  8,093
  9,276
  10,505
  11,783
  13,112
  14,492
  15,926
  17,417
  18,968
  20,581
  22,260
  24,008
  25,829
  27,726
  29,705
  31,770
  33,925
  36,176
  38,526
  40,983
  43,552
  46,239
  49,050
  51,992
  55,071
  58,296
  61,674
  65,213
  68,921
  72,807
Total liabilities, $m
  14,350
  15,533
  16,762
  18,040
  19,369
  20,749
  22,183
  23,674
  25,225
  26,838
  28,517
  30,265
  32,086
  33,983
  35,962
  38,027
  40,182
  42,433
  44,783
  47,240
  49,809
  52,496
  55,307
  58,249
  61,328
  64,553
  67,931
  71,470
  75,178
  79,064
Total equity, $m
  4,286
  4,640
  5,007
  5,389
  5,785
  6,198
  6,626
  7,072
  7,535
  8,016
  8,518
  9,040
  9,584
  10,151
  10,742
  11,359
  12,002
  12,675
  13,377
  14,111
  14,878
  15,681
  16,520
  17,399
  18,319
  19,282
  20,291
  21,348
  22,456
  23,617
Total liabilities and equity, $m
  18,636
  20,173
  21,769
  23,429
  25,154
  26,947
  28,809
  30,746
  32,760
  34,854
  37,035
  39,305
  41,670
  44,134
  46,704
  49,386
  52,184
  55,108
  58,160
  61,351
  64,687
  68,177
  71,827
  75,648
  79,647
  83,835
  88,222
  92,818
  97,634
  102,681
Debt-to-equity ratio
  1.890
  2.000
  2.100
  2.190
  2.270
  2.340
  2.400
  2.460
  2.520
  2.570
  2.610
  2.660
  2.690
  2.730
  2.770
  2.800
  2.830
  2.850
  2.880
  2.900
  2.930
  2.950
  2.970
  2.990
  3.010
  3.020
  3.040
  3.050
  3.070
  3.080
Adjusted equity ratio
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  439
  550
  665
  786
  911
  1,042
  1,178
  1,320
  1,468
  1,622
  2,323
  2,491
  2,667
  2,851
  3,043
  3,244
  3,454
  3,675
  3,905
  4,147
  4,401
  4,667
  4,946
  5,239
  5,546
  5,869
  6,208
  6,563
  6,937
  7,330
Depreciation, amort., depletion, $m
  1,286
  1,331
  1,378
  1,427
  1,477
  1,530
  1,585
  1,641
  1,701
  1,762
  1,086
  1,153
  1,222
  1,295
  1,370
  1,449
  1,531
  1,617
  1,706
  1,800
  1,898
  2,000
  2,107
  2,219
  2,337
  2,459
  2,588
  2,723
  2,864
  3,012
Funds from operations, $m
  1,725
  1,881
  2,044
  2,213
  2,389
  2,572
  2,763
  2,961
  3,168
  3,384
  3,410
  3,644
  3,890
  4,146
  4,413
  4,693
  4,985
  5,291
  5,612
  5,947
  6,299
  6,667
  7,053
  7,458
  7,883
  8,328
  8,796
  9,286
  9,801
  10,342
Change in working capital, $m
  -29
  -30
  -32
  -33
  -34
  -36
  -37
  -38
  -40
  -42
  -43
  -45
  -47
  -49
  -51
  -53
  -56
  -58
  -61
  -63
  -66
  -69
  -72
  -76
  -79
  -83
  -87
  -91
  -96
  -100
Cash from operations, $m
  1,754
  1,912
  2,075
  2,246
  2,423
  2,607
  2,800
  3,000
  3,208
  3,426
  3,453
  3,689
  3,936
  4,194
  4,464
  4,746
  5,041
  5,349
  5,672
  6,011
  6,365
  6,736
  7,126
  7,534
  7,962
  8,411
  8,883
  9,377
  9,897
  10,442
Maintenance CAPEX, $m
  -503
  -547
  -592
  -639
  -687
  -738
  -791
  -845
  -902
  -961
  -1,023
  -1,086
  -1,153
  -1,222
  -1,295
  -1,370
  -1,449
  -1,531
  -1,617
  -1,706
  -1,800
  -1,898
  -2,000
  -2,107
  -2,219
  -2,337
  -2,459
  -2,588
  -2,723
  -2,864
New CAPEX, $m
  -698
  -725
  -754
  -784
  -815
  -847
  -880
  -915
  -951
  -989
  -1,030
  -1,072
  -1,117
  -1,164
  -1,214
  -1,266
  -1,322
  -1,380
  -1,442
  -1,507
  -1,576
  -1,648
  -1,724
  -1,805
  -1,889
  -1,978
  -2,072
  -2,171
  -2,275
  -2,384
Cash from investing activities, $m
  -1,201
  -1,272
  -1,346
  -1,423
  -1,502
  -1,585
  -1,671
  -1,760
  -1,853
  -1,950
  -2,053
  -2,158
  -2,270
  -2,386
  -2,509
  -2,636
  -2,771
  -2,911
  -3,059
  -3,213
  -3,376
  -3,546
  -3,724
  -3,912
  -4,108
  -4,315
  -4,531
  -4,759
  -4,998
  -5,248
Free cash flow, $m
  553
  640
  729
  823
  921
  1,023
  1,129
  1,240
  1,355
  1,475
  1,401
  1,531
  1,666
  1,808
  1,955
  2,109
  2,270
  2,438
  2,614
  2,797
  2,989
  3,191
  3,401
  3,622
  3,854
  4,097
  4,351
  4,619
  4,899
  5,194
Issuance/(repayment) of debt, $m
  1,122
  1,182
  1,230
  1,278
  1,328
  1,380
  1,434
  1,491
  1,551
  1,613
  1,679
  1,748
  1,821
  1,898
  1,979
  2,065
  2,155
  2,250
  2,351
  2,457
  2,569
  2,687
  2,811
  2,942
  3,080
  3,225
  3,378
  3,539
  3,708
  3,886
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  1,122
  1,182
  1,230
  1,278
  1,328
  1,380
  1,434
  1,491
  1,551
  1,613
  1,679
  1,748
  1,821
  1,898
  1,979
  2,065
  2,155
  2,250
  2,351
  2,457
  2,569
  2,687
  2,811
  2,942
  3,080
  3,225
  3,378
  3,539
  3,708
  3,886
Total cash flow (excl. dividends), $m
  1,675
  1,822
  1,959
  2,101
  2,249
  2,403
  2,564
  2,731
  2,906
  3,088
  3,079
  3,279
  3,487
  3,706
  3,934
  4,174
  4,425
  4,688
  4,964
  5,254
  5,558
  5,877
  6,212
  6,564
  6,933
  7,321
  7,729
  8,157
  8,607
  9,080
Retained Cash Flow (-), $m
  -345
  -353
  -367
  -382
  -397
  -412
  -428
  -445
  -463
  -482
  -501
  -522
  -544
  -567
  -591
  -617
  -644
  -672
  -702
  -734
  -767
  -803
  -840
  -879
  -920
  -963
  -1,009
  -1,057
  -1,108
  -1,161
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  1,330
  1,469
  1,592
  1,719
  1,852
  1,991
  2,135
  2,286
  2,443
  2,606
  2,578
  2,757
  2,943
  3,139
  3,343
  3,557
  3,781
  4,016
  4,262
  4,520
  4,791
  5,075
  5,373
  5,685
  6,014
  6,358
  6,720
  7,100
  7,500
  7,919
Discount rate, %
  8.30
  8.72
  9.15
  9.61
  10.09
  10.59
  11.12
  11.68
  12.26
  12.88
  13.52
  14.20
  14.91
  15.65
  16.43
  17.26
  18.12
  19.02
  19.97
  20.97
  22.02
  23.12
  24.28
  25.49
  26.77
  28.11
  29.51
  30.99
  32.54
  34.16
PV of cash for distribution, $m
  1,228
  1,243
  1,224
  1,191
  1,145
  1,088
  1,020
  945
  862
  776
  639
  561
  484
  410
  341
  279
  223
  175
  134
  100
  73
  52
  36
  24
  16
  10
  6
  4
  2
  1
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Ball Corporation is a supplier of metal packaging to the beverage, food, personal care and household products industries. The Company's packaging products are produced for a range of end uses and are manufactured in facilities around the world. Its segments include beverage packaging, North and Central America; beverage packaging, South America; beverage packaging, Europe; food and aerosol packaging; aerospace, and other. Its major product line is aluminum and steel beverage containers. It produces steel food, aerosol and extruded aluminum aerosol containers and aluminum slugs. Its aerospace business designs, develops and manufactures aerospace systems for civil, commercial and national cyber security aerospace markets. It produces spacecraft, instruments and sensors, radio frequency systems and components, data exploitation solutions and a range of aerospace technologies and products.

FINANCIAL RATIOS  of  Ball (BLL)

Valuation Ratios
P/E Ratio 67
Price to Sales 1.9
Price to Book 5.1
Price to Tangible Book
Price to Cash Flow 90.8
Price to Free Cash Flow -42.8
Growth Rates
Sales Growth Rate 13.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 14.8%
Cap. Spend. - 3 Yr. Gr. Rate 9.9%
Financial Strength
Quick Ratio 3
Current Ratio 0.1
LT Debt to Equity 212.8%
Total Debt to Equity 219.3%
Interest Coverage 2
Management Effectiveness
Return On Assets 5%
Ret/ On Assets - 3 Yr. Avg. 5.8%
Return On Total Capital 3%
Ret/ On T. Cap. - 3 Yr. Avg. 6.3%
Return On Equity 11.2%
Return On Equity - 3 Yr. Avg. 25.8%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 19.5%
Gross Margin - 3 Yr. Avg. 19.4%
EBITDA Margin 8.5%
EBITDA Margin - 3 Yr. Avg. 10.3%
Operating Margin 5.1%
Oper. Margin - 3 Yr. Avg. 7.5%
Pre-Tax Margin 1.4%
Pre-Tax Margin - 3 Yr. Avg. 4.4%
Net Profit Margin 2.9%
Net Profit Margin - 3 Yr. Avg. 4%
Effective Tax Rate -100.8%
Eff/ Tax Rate - 3 Yr. Avg. -21.3%
Payout Ratio 31.6%

BLL stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the BLL stock intrinsic value calculation we used $10983 million for the last fiscal year's total revenue generated by Ball. The default revenue input number comes from 0001 income statement of Ball. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our BLL stock valuation model: a) initial revenue growth rate of 8.6% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 8.3%, whose default value for BLL is calculated based on our internal credit rating of Ball, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Ball.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of BLL stock the variable cost ratio is equal to 82.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $1160 million in the base year in the intrinsic value calculation for BLL stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Ball.

Corporate tax rate of 27% is the nominal tax rate for Ball. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the BLL stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for BLL are equal to 73.8%.

Life of production assets of 16.1 years is the average useful life of capital assets used in Ball operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for BLL is equal to -3.1%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $3941 million for Ball - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 343.911 million for Ball is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Ball at the current share price and the inputted number of shares is $17.3 billion.

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COMPANY NEWS

▶ Ball: 3Q Earnings Snapshot   [06:17AM  Associated Press]
▶ Ball Corporation Declares Quarterly Dividend   [Oct-24-18 04:15PM  PR Newswire]
▶ [$$] Lehman lessons   [05:45AM  Financial Times]
▶ Ball to Announce Third Quarter Earnings on Nov. 1, 2018   [Oct-04-18 04:03PM  PR Newswire]
▶ Ball Corporation Board Elects John A. Bryant as Director   [Sep-05-18 04:18PM  PR Newswire]
▶ Should You Buy Ball Corporation (NYSE:BLL) At US$41.67?   [Aug-29-18 09:14AM  Simply Wall St.]
▶ 2 Bullish And 2 Bearish Stocks To Watch This Week   [Aug-21-18 02:57PM  Benzinga]
▶ Ball Corporation to Host Earnings Call   [Aug-02-18 09:00AM  ACCESSWIRE]
▶ Ball: 2Q Earnings Snapshot   [06:13AM  Associated Press]
▶ Canadian craft brewers scramble for aluminum cans   [Aug-01-18 07:00AM  Reuters]
▶ Canadian craft brewers scramble for aluminum cans   [Jul-31-18 04:00PM  Reuters]
▶ Ball Corporation Declares Quarterly Dividend   [Jul-25-18 04:15PM  PR Newswire]
▶ [$$] Ball to End Production at Cuiaba, Brazil, Beverage Can Plant   [Jul-05-18 01:19PM  The Wall Street Journal]
▶ Ball shutting down Brazilian packaging plant   [08:49AM  American City Business Journals]
▶ Ball Corp. spinoff packaging entity includes Columbus plant   [Jun-22-18 02:45PM  American City Business Journals]
▶ Ball Corp. to form new packaging entity in $675 million deal   [08:29AM  American City Business Journals]
▶ [$$] Ball Corp. Forms Steel Packaging Venture With Platinum Equity   [Jun-21-18 06:15PM  The Wall Street Journal]
▶ These 10 Colorado companies landed on the 2018 Fortune 500   [May-21-18 02:33PM  American City Business Journals]
▶ Ball: 1Q Earnings Snapshot   [06:11AM  Associated Press]
▶ Ball to Pop Top on Cameo Beverage Can End Printing   [Apr-26-18 02:00PM  PR Newswire]

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