Amcor
Through the investors’ lenses
Each of these investors has said in public what they look at before buying. Click a name to see how this company measures up — a tick where it passes one of their tests, a cross where it does not.
Warren Buffett 1/4
| Measure | AMCR | Checked against | |
|---|---|---|---|
| Owner earnings | $1.66bn | positive | ✓ |
| Return on equity | 9.4% | median 11.7% | ✗ |
| Debt to equity | 1.18x | median 0.79x | ✗ |
| Operating margin | 8.1% | median 15.0% | ✗ |
Passes 1 of 4. To be clear: Warren Buffett has never said anything about Amcor. These are the company’s own figures put through the tests he described. What he looks at, and why →
Terry Smith 1/4
| Measure | AMCR | Checked against | |
|---|---|---|---|
| Return on capital employed | 7.4% | median 10.1% | ✗ |
| Cash conversion | 1.94x | median 1.78x | ✓ |
| Operating margin | 8.1% | median 15.0% | ✗ |
| Debt to equity | 1.18x | median 0.79x | ✗ |
Passes 1 of 4. To be clear: Terry Smith has never said anything about Amcor. These are the company’s own figures put through the tests he described. What he looks at, and why →
Charlie Munger 0/3
| Measure | AMCR | Checked against | |
|---|---|---|---|
| Return on capital employed | 7.4% | median 10.1% | ✗ |
| Return on equity | 9.4% | median 11.7% | ✗ |
| Operating margin | 8.1% | median 15.0% | ✗ |
Passes 0 of 3. To be clear: Charlie Munger has never said anything about Amcor. These are the company’s own figures put through the tests he described. What he looks at, and why →
Chuck Akre 1/4
| Measure | AMCR | Checked against | |
|---|---|---|---|
| Return on equity | 9.4% | median 11.7% | ✗ |
| Debt to equity | 1.18x | median 0.79x | ✗ |
| Cash conversion | 1.94x | median 1.78x | ✓ |
| Return on equity, sustained | 7 of 10 | 8 of 10 above median | ✗ |
Passes 1 of 4. To be clear: Chuck Akre has never said anything about Amcor. These are the company’s own figures put through the tests he described. What he looks at, and why →
Philip Fisher 0/4
| Measure | AMCR | Checked against | |
|---|---|---|---|
| Operating margin | 8.1% | median 15.0% | ✗ |
| Net margin | 4.7% | median 10.2% | ✗ |
| Return on capital employed | 7.4% | median 10.1% | ✗ |
| Operating margin, held or improving | 8.1% | 10-yr median 8.5% | ✗ |
Passes 0 of 4. To be clear: Philip Fisher has never said anything about Amcor. These are the company’s own figures put through the tests he described. What he looks at, and why →
Walter Schloss 1/2
| Measure | AMCR | Checked against | |
|---|---|---|---|
| Current ratio | 1.25x | median 1.25x | ✓ |
| Debt to equity | 1.18x | median 0.79x | ✗ |
Passes 1 of 2. To be clear: Walter Schloss has never said anything about Amcor. These are the company’s own figures put through the tests he described. What he looks at, and why →
Benjamin Graham 1/3
| Measure | AMCR | Checked against | |
|---|---|---|---|
| Current ratio | 1.25x | 2.00x published | ✗ |
| Long-term debt to working capital | 7.33x | 1.00x published | ✗ |
| Positive earnings, ten years running | 10 yrs | 10 published | ✓ |
Passes 1 of 3. To be clear: Benjamin Graham has never said anything about Amcor. These are the company’s own figures put through the tests he described. What he looks at, and why →
Joel Greenblatt 0/1
| Measure | AMCR | Checked against | |
|---|---|---|---|
| Return on capital employed | 7.4% | median 10.1% | ✗ |
Passes 0 of 1. To be clear: Joel Greenblatt has never said anything about Amcor. These are the company’s own figures put through the tests he described. What he looks at, and why →
Peter Lynch 0/2
| Measure | AMCR | Checked against | |
|---|---|---|---|
| Debt to equity | 1.18x | median 0.79x | ✗ |
| Net margin | 4.7% | median 10.2% | ✗ |
Passes 0 of 2. To be clear: Peter Lynch has never said anything about Amcor. These are the company’s own figures put through the tests he described. What he looks at, and why →
| Basis | Payout | Why |
|---|---|---|
| GAAP earnings | 108.7% | whyThe figure most screeners publish. |
| Operating cash flow | 55.6% | whyBefore capital spending. |
| Free cash flow | 97.2% | whyAfter maintaining the business. |
Spread between highest and lowest: 53.2 percentage points. Same filings, different denominators.
Coverage rating 26 / 100 — Strained. ? Peer standing 4/50Direction 4/30Stability 18/20
Free cash flow payout, last 6 years
| Fiscal year | Payout |
|---|---|
| 2026-06-30 | 97.2% |
| 2025-06-30 | 104.3% |
| 2024-06-30 | 87.1% |
| 2023-06-30 | 98.4% |
| 2022-06-30 | 73.3% |
| 2021-06-30 | 74.7% |
9% of the 44 consumer discretionary here pay out more — at the demanding end.
The arithmetic
- GAAP earnings — dividends declared per share $2.59 ÷ diluted EPS $2.38
- Operating cash flow — dividends paid $1,195m ÷ operating cash flow $2,151m
- Free cash flow — dividends paid $1,195m ÷ (operating cash flow $2,151m − capex $922m)
Where the figures came from
- 10-K filed 2026-08-14 · accession 0001748790-26-000022
All public at sec.gov — you should not have to take our word for it.
Computed straight from SEC XBRL. A number that looks wrong to you is more useful to us than agreement — tell us.
What the free cash flow payout ratio measures, and where every company here sits on it.
Also on: uncovered on earnings, covered on the basis that applies · rated strained · when it files.
When this changes
Every figure above is recomputed whenever Amcor files. The monthly letter carries what filed, what moved, and one finding computed across every company here.