World-leading beverage cans · Aluminum packaging · Customer concentration
Ball Corporation
Ball supplies aluminum packaging for beverages, personal care and household products. AB InBev, Coca-Cola bottler and Red Bull affiliates represented 40% of its $13.161 billion 2025 sales, while pass-through clauses shifted much of H1 2026 aluminum inflation to customers.
BALL Updated Oct 12, 2026 5 AI consumers· 2 recurring
Per the valuechain.wiki graph, Ball Corporation is directly linked to 2 companies (0 supply, 2 revenue relationships) and reaches 3 companies within two hops; the links are backed by 6 dated sources, 3 of them primary filings (as of 2026-10-12).
Financials & Segments
- Total revenue · H1 2026 net sales of $7.600 billion ($3.997 billion in Q2)
- Customer concentration · FY2025 AB InBev 15% · Coca-Cola Bottlers’ Sales & Services 14% · Red Bull 11%
- Segments · Beverage Packaging, North and Central America · Beverage Packaging, EMEA · Beverage Packaging, South America · Other (personal and home care, etc.)
Revenue from
- Anheuser-Busch InBev and affiliates High confidence· Market share 15 percent · FY2025 · AB InBev와 계열사 share of Ball consolidated net sales
AB InBev and affiliates were Ball's largest disclosed customer group at 15% of FY2025 consolidated net sales. Applying the share to reported sales implies about $1.97 billion, but the disclosed observation is the percentage.Mentions KO Investing.com Korea Published Jun 12, 2026: Wolfe Research expects Ball volume growth from the World Cup and energy drinksConfirms EN U.S. Securities and Exchange Commission Published Feb 19, 2026: Ball Corporation 2025 Annual Report (Form 10-K) - Coca-Cola Bottlers’ Sales & Services Company and affiliates High confidence· Market share 14 percent · FY2025 · 코카콜라 보틀러 공동조달 조직과 계열사 share of Ball consolidated net sales
Coca-Cola Bottlers’ Sales & Services Company and affiliates represented 14% of Ball's FY2025 consolidated net sales. It is not the same legal entity as The Coca-Cola Company, so this edge is not directly linked to the Coca-Cola node.Confirms EN U.S. Securities and Exchange Commission Published Feb 19, 2026: Ball Corporation 2025 Annual Report (Form 10-K) - Red Bull GmbH and affiliates High confidence· Market share 11 percent · FY2025 · Red Bull과 계열사 share of Ball consolidated net sales
Red Bull and affiliates represented 11% of Ball's FY2025 consolidated net sales, up from 8% in 2023 and 9% in 2024.Mentions KO Investing.com Korea Published Jun 12, 2026: Wolfe Research expects Ball volume growth from the World Cup and energy drinksConfirms EN U.S. Securities and Exchange Commission Published Feb 19, 2026: Ball Corporation 2025 Annual Report (Form 10-K) - Monster Beverage Corporation High confidence
Ball is confirmed as the manufacturer of the 16-ounce aluminum can for Monster Khaos Energy + Juice. A 2026 Korean-language channel check reverified Monster sales momentum as a key Ball demand driver, while procurement value remains undisclosed.Mentions KO Investing.com Korea Published Jun 12, 2026: Wolfe Research expects Ball volume growth from the World Cup and energy drinksConfirms EN Ball Corporation Published Jul 2, 2015: Ball's Packaging Graphics Expertise Recognized at IMDA's 2015 Excellence in Quality Awards - Constellation Brands, Inc. High confidence
Ball supplied aluminum-can design and packaging for Modelo Oro and Corona Extra. A 2026 channel check also assessed Constellation's performance as positive for Ball.Mentions KO Investing.com Korea Published Jun 12, 2026: Wolfe Research expects Ball volume growth from the World Cup and energy drinks
Pays to
- Aluminum and other raw-material suppliers High confidence· Amount 6,257 USD_million · H1 2026 · Ball cost of sales excluding depreciation and amortization
Cost of sales was $6.257 billion, or 82% of sales, in H1 2026. Of the year-over-year increase, $871 million came from higher raw-material costs driven by aluminum prices and volume.Confirms EN U.S. Securities and Exchange Commission Published Aug 4, 2026: Ball Corporation Q2 2026 Quarterly Report (Form 10-Q) - Novelis Inc. High confidence
Novelis signed a long-term agreement to supply aluminum beverage-can sheet to Ball's North American can plants. The value is undisclosed; the agreement covers Bay Minette capacity and closed-loop recycling.Confirms EN Hindalco Industries Limited Published Sep 11, 2023: Novelis Enters Long-Term Agreement to Supply Aluminum Beverage Can Sheet to Ball Corporation
Investments
- Benepack European beverage-can business High confidence· Market share 80 percent · as of January 2026 · Ball ownership of Benepack's European beverage-can business
Ball acquired an 80% interest in Benepack's Belgian and Hungarian beverage-can plants in January 2026. ORG Technology retained 20%, and the business was added to the EMEA segment.Confirms EN U.S. Securities and Exchange Commission Published Aug 4, 2026: Ball Corporation Q2 2026 Quarterly Report (Form 10-Q)
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Coca-Cola Europacific Partners | lead2 | +15.6 | +2.3 | +24.5 | +18.4 | +21.2 | +16.2 |
| Monster Beverage Corporation | lead1 | +3.8 | +5.7 | +13.5 | -8.8 | +45.9 | +13.8 |
| Constellation Brands, Inc. | lead1 | +16.1 | -6.4 | +5.8 | -7.1 | -36 | -9.2 |
| Ball Corporation | node | +4.1 | -46.2 | +14.1 | -3 | -2.4 | +11.5 |
YTD as of 2026-10-09 · source: Yahoo Finance
Beverage demand reached packaging at different speeds by customer. Monster gained 45.9% in 2025 and another 13.8% in 2026, while Constellation Brands fell 36.0% and 9.2% over the same periods. Ball, positioned between those customers, turned from -2.4% in 2025 to +11.5% in 2026. H1 2026 sales rose 18.1%, with $898 million of price/mix growth driven mainly by higher aluminum prices. Strong energy-drink volume and metal pass-throughs therefore supported Ball's recovery, while weak beer customers capped it. The lagging layer is can-sheet supply such as Novelis, but its private status prevents direct stock-return testing. Aluminum is the exception that can break the chain thesis: higher input prices lift Ball's reported sales through contractual pass-throughs without necessarily improving margins.
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