The company's financial stability is increasingly precarious, with total debt rising to $4.5 billion and shareholder equity falling into a negative position of $698 million as of 2026Q1.
| Total Current Assets | 1.67B | 1.84B | 1.63B | 1.5B | 1.91B | 1.66B | 1.04B | 971M | 875M |
| Cash & Short-Term Investments | 142M | 522M | 602M | 434M | 555M | 560M | 280M | 284M | 148M |
| Cash Only | 142M | 522M | 602M | 434M | 555M | 435M | 257M | 284M | 148M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 125M | 23M | 0 | 0 |
| Accounts Receivable | 959M | 734M | 618M | 581M | 748M | 694M | 507M | 318M | 410M |
| Days Sales Outstanding | 53.08 | 48.74 | 45.96 | 44.07 | 58.23 | 62.47 | 53.62 | 34.71 | 44.83 |
| Inventory | 490M | 509M | 382M | 469M | 567M | 407M | 250M | 268M | 238M |
| Days Inventory Outstanding | 33.97 | 37.62 | 32.59 | 39.46 | 49.71 | 43.2 | 31.43 | 34.54 | 30.94 |
| Other Current Assets | 75M | 75M | 28M | 21M | 38M | 0 | -354.09K | 101M | 79M |
| Total Non-Current Assets | 3.76B | 3.84B | 3.83B | 4.16B | 3.96B | 3.66B | 3.22B | 3.1B | 3.15B |
| Property, Plant & Equipment | 2.47B | 2.52B | 2.48B | 2.63B | 2.39B | 1.84B | 1.23B | 1.08B | 953M |
| Fixed Asset Turnover | 2.29x | 2.19x | 1.98x | 1.83x | 1.96x | 2.20x | 2.80x | 3.11x | 3.50x |
| Goodwill | 0 | 1.03B | 966M | 999M | 976M | 1.01B | 1.05B | 1B | 1.01B |
| Intangible Assets | 0 | 146M | 257M | 383M | 497M | 652M | 829M | 934M | 1.08B |
| Long-Term Investments | 15M | 2M | 2M | 0 | 9M | 7M | 9M | 0 | 0 |
| Other Non-Current Assets | 82M | 141M | 63M | 92M | 31M | 82M | 4M | 82M | 96M |
| Total Assets | 5.42B | 5.68B | 5.46B | 5.67B | 5.87B | 5.33B | 4.25B | 4.07B | 4.02B |
| Asset Turnover | 1.04x | 0.97x | 0.90x | 0.85x | 0.80x | 0.76x | 0.81x | 0.82x | 0.83x |
| Asset Growth % | 7.5% | 3.97% | -3.65% | -3.34% | 10.14% | 25.18% | 4.62% | 1.07% | - |
| Total Current Liabilities | 1.58B | 1.73B | 1.45B | 1.52B | 1.46B | 1.4B | 969M | 931M | 1.48B |
| Accounts Payable | 1.22B | 1.61B | 1.04B | 1.09B | 1.06B | 1.26B | 843M | 619M | 556M |
| Days Payables Outstanding | 92.31 | 119.08 | 88.82 | 91.8 | 92.94 | 133.84 | 105.99 | 79.78 | 72.27 |
| Short-Term Debt | 241M | 118M | 105M | 94M | 68M | 66M | 54M | 42M | 697M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 2M | 0 | 0 | 0 |
| Other Current Liabilities | 90M | 0 | 46M | 323M | 301M | 31M | 13M | 270M | 225M |
| Current Ratio | 1.06x | 1.06x | 1.13x | 0.99x | 1.30x | 1.19x | 1.07x | 1.04x | 0.59x |
| Quick Ratio | 0.74x | 0.77x | 0.86x | 0.68x | 0.92x | 0.90x | 0.81x | 0.76x | 0.43x |
| Cash Conversion Cycle | -5.26 | -32.72 | -10.27 | -8.27 | 15 | -28.17 | -20.94 | -10.53 | 3.5 |
| Total Non-Current Liabilities | 4.54B | 4.63B | 4.15B | 4.04B | 3.95B | 3.64B | 3.24B | 3.12B | 2.4B |
| Long-Term Debt | 4.24B | 3.93B | 3.8B | 3.64B | 3.52B | 2.83B | 2.79B | 2.6B | 1.93B |
| Capital Lease Obligations | 368M | 368M | 0 | 0 | 0 | 0 | 0 | 133M | 107M |
| Deferred Tax Liabilities | 526M | 117M | 141M | 136M | 158M | 207M | 203M | 0 | 0 |
| Other Non-Current Liabilities | 182M | 207M | 212M | 265M | 264M | 601M | 241M | 385M | 367M |
| Total Liabilities | 6.11B | 6.35B | 5.6B | 5.56B | 5.41B | 5.04B | 4.21B | 4.05B | 3.88B |
| Total Debt | 4.48B | 4.42B | 3.9B | 3.73B | 3.59B | 2.9B | 2.85B | 2.78B | 2.73B |
| Net Debt | 4.34B | 3.9B | 3.3B | 3.3B | 3.04B | 2.46B | 2.59B | 2.5B | 2.59B |
| Debt / Equity | -6.49x | - | - | 35.23x | 7.89x | 10.13x | 59.31x | 231.67x | 19.54x |
| Debt / EBITDA | 5.95x | 5.98x | 5.99x | 7.56x | 6.71x | 7.43x | 5.42x | 5.70x | 5.34x |
| Net Debt / EBITDA | 5.76x | 5.27x | 5.07x | 6.68x | 5.68x | 6.31x | 4.93x | 5.11x | 5.05x |
| Interest Coverage | 1.08x | 1.32x | 0.88x | 0.56x | 2.91x | -0.49x | 1.86x | 0.91x | - |
| Total Equity | -690M | -675M | -136M | 106M | 455M | 286M | 48M | 12M | 140M |
| Equity Growth % | -2230.74% | -396.32% | -228.3% | -76.7% | 59.09% | 495.83% | 300% | -91.43% | - |
| Book Value per Share | -1.15 | -1.13 | -0.23 | 0.18 | 0.76 | 0.53 | 0.08 | 0.02 | 0.23 |
| Total Shareholders' Equity | -698M | -683M | -142M | 100M | 455M | 286M | 48M | 12M | 140M |
| Common Stock | 7M | 7M | 267M | 267M | 267M | 7M | 63M | 16M | 148M |
| Retained Earnings | -1.03B | -972M | -738M | -469M | -144M | -120M | 0 | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -5.66B | -54M | -5.66B | -5.69B | -5.66B | -5.59B | -15M | -4M | -8M |
| Minority Interest | 8M | 8M | 6M | 6M | 0 | 0 | 0 | 0 | 0 |
Negative equity and leverage
As reported in recent financial statements, AMBP's equity position has deteriorated from a positive $100 million in 2023Q4 to a negative $698 million by 2026Q1, signaling that persistent net losses are rapidly consuming the company's book value and undermining its long-term financial stability.
The consistent decline in retained earnings, which reached negative $1.0 billion in 2026Q1, suggests that the company's aggressive capacity expansion has failed to generate sufficient returns to offset its capital structure costs. This trajectory indicates a structural imbalance where the firm's growth strategy is increasingly reliant on debt rather than internal equity generation.
Based on the company's reported figures, total debt has climbed to $4.5 billion as of 2026Q1, representing a significant escalation from the $3.7 billion observed in 2023Q4, which suggests that the firm is increasingly dependent on external financing to fund its ongoing operational and capital requirements.
The accumulation of debt in a high-interest rate environment creates a compounding pressure on the income statement, as interest expenses continue to erode the thin margins generated by the core business. Investors should monitor whether this debt load remains sustainable given the lack of positive equity and the volatility in free cash flow.
According to the latest quarterly filings, AMBP's cash position dropped to $142 million in 2026Q1 from a peak of $602 million in 2024Q4, indicating that the company's liquidity buffer is shrinking rapidly as it navigates a period of intense capital expenditure and negative operating cash flow.
With a current ratio of 1.06, the company maintains minimal headroom to absorb unexpected operational shocks or further volatility in working capital requirements. This tight liquidity position warrants caution, as it limits the firm's ability to maneuver during cyclical downturns or periods of supply chain disruption.
As evidenced by the company's balance sheet, the $1.1 billion in goodwill recorded as of 2026Q1 represents a significant portion of total assets, which may be vulnerable to impairment if the anticipated synergies from regional capacity expansions fail to materialize in the current competitive environment.
The reliance on intangible assets to support the balance sheet suggests that the firm's book value may be overstated relative to its actual cash-generating capacity. If market conditions in key regions like Brazil or Europe continue to face overcapacity, the risk of a non-cash goodwill write-down could further exacerbate the already negative equity position.
Quick answers to the most common questions about buying AMBP stock.
As of 2025, Ardagh Metal Packaging S.A. (AMBP) had total assets of $5.68B including $1.84B in current assets.
Ardagh Metal Packaging S.A. (AMBP) carries total debt of $4.42B, offset by $522.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Ardagh Metal Packaging S.A. (AMBP) has total shareholders' equity (book value) of $-683.0M ($-1.13 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Ardagh Metal Packaging S.A. (AMBP) reported a current ratio of 1.06x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.