Intrinsic value of Owens-Illinois - OI

Previous Close

$16.54

  Intrinsic Value

$27.91

stock screener

  Rating & Target

str. buy

+69%

Previous close

$16.54

 
Intrinsic value

$27.91

 
Up/down potential

+69%

 
Rating

str. buy

We calculate the intrinsic value of OI 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 2017), $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 2.7

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.50
  2.75
  2.97
  3.18
  3.36
  3.52
  3.67
  3.80
  3.92
  4.03
  4.13
  4.22
  4.29
  4.36
  4.43
  4.49
  4.54
  4.58
  4.62
  4.66
  4.70
  4.73
  4.75
  4.78
  4.80
  4.82
  4.84
  4.85
  4.87
  4.88
Revenue, $m
  7,041
  7,234
  7,450
  7,686
  7,945
  8,224
  8,526
  8,851
  9,198
  9,569
  9,964
  10,384
  10,830
  11,302
  11,803
  12,332
  12,892
  13,483
  14,106
  14,764
  15,457
  16,188
  16,957
  17,768
  18,621
  19,518
  20,463
  21,456
  22,501
  23,599
Variable operating expenses, $m
  6,357
  6,524
  6,709
  6,912
  7,134
  7,375
  7,635
  7,914
  8,212
  8,531
  8,568
  8,929
  9,313
  9,719
  10,149
  10,605
  11,086
  11,594
  12,130
  12,696
  13,292
  13,920
  14,582
  15,278
  16,012
  16,784
  17,596
  18,450
  19,348
  20,293
Fixed operating expenses, $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 operating expenses, $m
  6,357
  6,524
  6,709
  6,912
  7,134
  7,375
  7,635
  7,914
  8,212
  8,531
  8,568
  8,929
  9,313
  9,719
  10,149
  10,605
  11,086
  11,594
  12,130
  12,696
  13,292
  13,920
  14,582
  15,278
  16,012
  16,784
  17,596
  18,450
  19,348
  20,293
Operating income, $m
  683
  711
  741
  774
  810
  849
  892
  937
  986
  1,038
  1,396
  1,455
  1,517
  1,583
  1,654
  1,728
  1,806
  1,889
  1,976
  2,068
  2,166
  2,268
  2,376
  2,489
  2,609
  2,734
  2,867
  3,006
  3,152
  3,306
EBITDA, $m
  1,600
  1,644
  1,693
  1,746
  1,805
  1,869
  1,937
  2,011
  2,090
  2,174
  2,264
  2,359
  2,461
  2,568
  2,682
  2,802
  2,929
  3,063
  3,205
  3,354
  3,512
  3,678
  3,853
  4,037
  4,231
  4,434
  4,649
  4,875
  5,112
  5,362
Interest expense (income), $m
  261
  285
  295
  308
  323
  339
  357
  376
  397
  420
  443
  469
  496
  525
  556
  589
  623
  660
  698
  739
  782
  828
  876
  926
  979
  1,035
  1,094
  1,156
  1,221
  1,290
  1,362
Earnings before tax, $m
  398
  416
  433
  451
  471
  492
  515
  540
  566
  594
  927
  958
  992
  1,027
  1,065
  1,104
  1,146
  1,190
  1,237
  1,286
  1,338
  1,392
  1,450
  1,510
  1,574
  1,640
  1,711
  1,785
  1,863
  1,944
Tax expense, $m
  108
  112
  117
  122
  127
  133
  139
  146
  153
  160
  250
  259
  268
  277
  287
  298
  309
  321
  334
  347
  361
  376
  391
  408
  425
  443
  462
  482
  503
  525
Net income, $m
  291
  304
  316
  329
  344
  359
  376
  394
  413
  434
  677
  700
  724
  750
  777
  806
  837
  869
  903
  939
  977
  1,016
  1,058
  1,102
  1,149
  1,198
  1,249
  1,303
  1,360
  1,419

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
  10,001
  10,276
  10,582
  10,918
  11,285
  11,682
  12,111
  12,572
  13,065
  13,592
  14,153
  14,750
  15,383
  16,055
  16,766
  17,518
  18,312
  19,152
  20,037
  20,971
  21,956
  22,994
  24,087
  25,238
  26,450
  27,725
  29,066
  30,477
  31,961
  33,522
Adjusted assets (=assets-cash), $m
  10,001
  10,276
  10,582
  10,918
  11,285
  11,682
  12,111
  12,572
  13,065
  13,592
  14,153
  14,750
  15,383
  16,055
  16,766
  17,518
  18,312
  19,152
  20,037
  20,971
  21,956
  22,994
  24,087
  25,238
  26,450
  27,725
  29,066
  30,477
  31,961
  33,522
Revenue / Adjusted assets
  0.704
  0.704
  0.704
  0.704
  0.704
  0.704
  0.704
  0.704
  0.704
  0.704
  0.704
  0.704
  0.704
  0.704
  0.704
  0.704
  0.704
  0.704
  0.704
  0.704
  0.704
  0.704
  0.704
  0.704
  0.704
  0.704
  0.704
  0.704
  0.704
  0.704
Average production assets, $m
  6,132
  6,301
  6,489
  6,695
  6,920
  7,164
  7,427
  7,709
  8,012
  8,335
  8,679
  9,044
  9,433
  9,844
  10,280
  10,742
  11,229
  11,743
  12,287
  12,859
  13,463
  14,100
  14,770
  15,476
  16,219
  17,000
  17,823
  18,688
  19,598
  20,555
Working capital, $m
  -683
  -702
  -723
  -746
  -771
  -798
  -827
  -859
  -892
  -928
  -967
  -1,007
  -1,050
  -1,096
  -1,145
  -1,196
  -1,251
  -1,308
  -1,368
  -1,432
  -1,499
  -1,570
  -1,645
  -1,723
  -1,806
  -1,893
  -1,985
  -2,081
  -2,183
  -2,289
Total debt, $m
  5,455
  5,702
  5,978
  6,280
  6,610
  6,968
  7,354
  7,769
  8,213
  8,687
  9,192
  9,729
  10,299
  10,903
  11,543
  12,220
  12,935
  13,690
  14,488
  15,328
  16,215
  17,149
  18,132
  19,168
  20,259
  21,406
  22,614
  23,884
  25,219
  26,624
Total liabilities, $m
  9,001
  9,248
  9,524
  9,826
  10,156
  10,514
  10,900
  11,315
  11,759
  12,233
  12,738
  13,275
  13,845
  14,449
  15,089
  15,766
  16,481
  17,236
  18,034
  18,874
  19,761
  20,695
  21,678
  22,714
  23,805
  24,952
  26,160
  27,430
  28,765
  30,170
Total equity, $m
  1,000
  1,028
  1,058
  1,092
  1,128
  1,168
  1,211
  1,257
  1,307
  1,359
  1,415
  1,475
  1,538
  1,605
  1,677
  1,752
  1,831
  1,915
  2,004
  2,097
  2,196
  2,299
  2,409
  2,524
  2,645
  2,772
  2,907
  3,048
  3,196
  3,352
Total liabilities and equity, $m
  10,001
  10,276
  10,582
  10,918
  11,284
  11,682
  12,111
  12,572
  13,066
  13,592
  14,153
  14,750
  15,383
  16,054
  16,766
  17,518
  18,312
  19,151
  20,038
  20,971
  21,957
  22,994
  24,087
  25,238
  26,450
  27,724
  29,067
  30,478
  31,961
  33,522
Debt-to-equity ratio
  5.450
  5.550
  5.650
  5.750
  5.860
  5.960
  6.070
  6.180
  6.290
  6.390
  6.490
  6.600
  6.690
  6.790
  6.880
  6.980
  7.060
  7.150
  7.230
  7.310
  7.380
  7.460
  7.530
  7.590
  7.660
  7.720
  7.780
  7.840
  7.890
  7.940
Adjusted equity ratio
  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
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  291
  304
  316
  329
  344
  359
  376
  394
  413
  434
  677
  700
  724
  750
  777
  806
  837
  869
  903
  939
  977
  1,016
  1,058
  1,102
  1,149
  1,198
  1,249
  1,303
  1,360
  1,419
Depreciation, amort., depletion, $m
  916
  933
  952
  972
  995
  1,019
  1,046
  1,074
  1,104
  1,136
  868
  904
  943
  984
  1,028
  1,074
  1,123
  1,174
  1,229
  1,286
  1,346
  1,410
  1,477
  1,548
  1,622
  1,700
  1,782
  1,869
  1,960
  2,055
Funds from operations, $m
  1,207
  1,237
  1,268
  1,302
  1,339
  1,379
  1,422
  1,468
  1,517
  1,570
  1,544
  1,604
  1,667
  1,734
  1,805
  1,880
  1,960
  2,043
  2,132
  2,225
  2,323
  2,426
  2,535
  2,650
  2,771
  2,898
  3,031
  3,172
  3,319
  3,475
Change in working capital, $m
  -17
  -19
  -21
  -23
  -25
  -27
  -29
  -31
  -34
  -36
  -38
  -41
  -43
  -46
  -49
  -51
  -54
  -57
  -60
  -64
  -67
  -71
  -75
  -79
  -83
  -87
  -92
  -96
  -101
  -107
Cash from operations, $m
  1,223
  1,256
  1,289
  1,325
  1,364
  1,406
  1,451
  1,499
  1,551
  1,606
  1,583
  1,645
  1,711
  1,780
  1,854
  1,932
  2,014
  2,101
  2,192
  2,289
  2,390
  2,497
  2,610
  2,728
  2,853
  2,985
  3,123
  3,268
  3,421
  3,581
Maintenance CAPEX, $m
  -598
  -613
  -630
  -649
  -669
  -692
  -716
  -743
  -771
  -801
  -833
  -868
  -904
  -943
  -984
  -1,028
  -1,074
  -1,123
  -1,174
  -1,229
  -1,286
  -1,346
  -1,410
  -1,477
  -1,548
  -1,622
  -1,700
  -1,782
  -1,869
  -1,960
New CAPEX, $m
  -149
  -169
  -187
  -206
  -225
  -244
  -263
  -283
  -302
  -323
  -344
  -366
  -388
  -412
  -436
  -461
  -487
  -515
  -543
  -573
  -604
  -636
  -670
  -706
  -743
  -782
  -823
  -865
  -910
  -957
Cash from investing activities, $m
  -747
  -782
  -817
  -855
  -894
  -936
  -979
  -1,026
  -1,073
  -1,124
  -1,177
  -1,234
  -1,292
  -1,355
  -1,420
  -1,489
  -1,561
  -1,638
  -1,717
  -1,802
  -1,890
  -1,982
  -2,080
  -2,183
  -2,291
  -2,404
  -2,523
  -2,647
  -2,779
  -2,917
Free cash flow, $m
  476
  474
  471
  470
  469
  470
  472
  474
  478
  482
  405
  411
  418
  425
  434
  443
  452
  463
  475
  487
  500
  515
  530
  546
  563
  581
  600
  621
  642
  665
Issuance/(repayment) of debt, $m
  172
  248
  275
  303
  330
  358
  386
  415
  444
  474
  505
  537
  570
  604
  640
  677
  715
  755
  797
  841
  886
  934
  984
  1,036
  1,090
  1,148
  1,207
  1,270
  1,336
  1,404
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  
  172
  248
  275
  303
  330
  358
  386
  415
  444
  474
  505
  537
  570
  604
  640
  677
  715
  755
  797
  841
  886
  934
  984
  1,036
  1,090
  1,148
  1,207
  1,270
  1,336
  1,404
Total cash flow (excl. dividends), $m
  648
  721
  746
  772
  799
  828
  858
  889
  922
  956
  910
  948
  988
  1,030
  1,073
  1,119
  1,168
  1,218
  1,272
  1,328
  1,387
  1,448
  1,513
  1,582
  1,653
  1,728
  1,807
  1,890
  1,978
  2,069
Retained Cash Flow (-), $m
  -73
  -28
  -31
  -34
  -37
  -40
  -43
  -46
  -49
  -53
  -56
  -60
  -63
  -67
  -71
  -75
  -79
  -84
  -89
  -93
  -98
  -104
  -109
  -115
  -121
  -128
  -134
  -141
  -148
  -156
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
  575
  694
  716
  739
  763
  788
  815
  843
  872
  903
  854
  888
  924
  962
  1,002
  1,044
  1,088
  1,135
  1,183
  1,234
  1,288
  1,345
  1,404
  1,467
  1,532
  1,601
  1,673
  1,749
  1,829
  1,913
Discount rate, %
  10.50
  11.03
  11.58
  12.16
  12.76
  13.40
  14.07
  14.77
  15.51
  16.29
  17.10
  17.96
  18.86
  19.80
  20.79
  21.83
  22.92
  24.07
  25.27
  26.53
  27.86
  29.25
  30.72
  32.25
  33.86
  35.56
  37.33
  39.20
  41.16
  43.22
PV of cash for distribution, $m
  520
  563
  515
  467
  418
  371
  324
  280
  238
  200
  150
  122
  98
  77
  59
  44
  33
  23
  16
  11
  7
  5
  3
  2
  1
  1
  0
  0
  0
  0
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

Owens-Illinois, Inc. is a manufacturer of glass container products. The Company's principal product lines are glass containers for the food and beverage industries. The Company's segments include Europe, North America, Latin America and Asia Pacific. The Company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits and wine. The Company also produces glass packaging for a range of food items, soft drinks, teas, juices and pharmaceuticals. The Company manufactures glass containers in a range of sizes, shapes and colors. The Company also provides engineering support for its glass manufacturing operations through facilities located in the United States, Australia, France, Poland, Colombia and Peru. As of December 31, 2016, the Company had 79 glass manufacturing plants in 23 countries. The Company has a distribution facility used to import glass containers from its business in Mexico.

FINANCIAL RATIOS  of  Owens-Illinois (OI)

Valuation Ratios
P/E Ratio 12.8
Price to Sales 0.4
Price to Book 10.6
Price to Tangible Book
Price to Cash Flow 3.6
Price to Free Cash Flow 9
Growth Rates
Sales Growth Rate 8.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 12.9%
Cap. Spend. - 3 Yr. Gr. Rate 4.7%
Financial Strength
Quick Ratio 3
Current Ratio 0.1
LT Debt to Equity 2020.9%
Total Debt to Equity 2097.6%
Interest Coverage 2
Management Effectiveness
Return On Assets 4.1%
Ret/ On Assets - 3 Yr. Avg. 3.7%
Return On Total Capital 3.7%
Ret/ On T. Cap. - 3 Yr. Avg. 3.2%
Return On Equity 98.4%
Return On Equity - 3 Yr. Avg. 43.7%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 18.1%
Gross Margin - 3 Yr. Avg. 18.2%
EBITDA Margin 16.3%
EBITDA Margin - 3 Yr. Avg. 14.9%
Operating Margin 5.3%
Oper. Margin - 3 Yr. Avg. 4.7%
Pre-Tax Margin 5.3%
Pre-Tax Margin - 3 Yr. Avg. 4.7%
Net Profit Margin 3.1%
Net Profit Margin - 3 Yr. Avg. 2.6%
Effective Tax Rate 33.4%
Eff/ Tax Rate - 3 Yr. Avg. 34.3%
Payout Ratio 0%

OI stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the OI stock intrinsic value calculation we used $6869 million for the last fiscal year's total revenue generated by Owens-Illinois. The default revenue input number comes from 2017 income statement of Owens-Illinois. 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 OI stock valuation model: a) initial revenue growth rate of 2.5% 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 10.5%, whose default value for OI is calculated based on our internal credit rating of Owens-Illinois, 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 Owens-Illinois.
    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 OI stock the variable cost ratio is equal to 90.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for OI 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 Owens-Illinois.

Corporate tax rate of 27% is the nominal tax rate for Owens-Illinois. 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 OI 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 OI are equal to 87.1%.

Life of production assets of 10 years is the average useful life of capital assets used in Owens-Illinois 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 OI is equal to -9.7%. 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 - $927 million for Owens-Illinois - 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 163 million for Owens-Illinois 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 Owens-Illinois at the current share price and the inputted number of shares is $2.7 billion.

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COMPANY NEWS

▶ A Look At The Intrinsic Value Of Owens-Illinois Inc (NYSE:OI)   [Jun-21-18 02:38PM  Simply Wall St.]
▶ O-I Announces Plant Closure in Atlanta   [May-16-18 04:46PM  GlobeNewswire]
▶ Is It Too Late To Buy Owens-Illinois Inc (NYSE:OI)?   [May-02-18 06:42PM  Simply Wall St.]
▶ Owens-Illinois: 1Q Earnings Snapshot   [Apr-23-18 04:46PM  Associated Press]
▶ Owens-Illinois reports 4Q loss   [Feb-06-18 05:13PM  Associated Press]
▶ What Does Owens-Illinois Incs (NYSE:OI) Share Price Indicate?   [Dec-18-17 05:05PM  Simply Wall St.]
▶ Owens-Illinois, Inc.: O-I LAUNCHES FIRST GLOBAL DESIGN BOOK   [Dec-11-17 04:37PM  GlobeNewswire]
▶ Owens-Illinois Inc (OI): What Does The Future Look Like?   [Nov-09-17 07:15PM  Simply Wall St.]
▶ Owens-Illinois tops Street 3Q forecasts   [Oct-23-17 04:41PM  Associated Press]
▶ New Strong Buy Stocks for August 21st   [Aug-21-17 09:47AM  Zacks]
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