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Undervalued
Morningstar Quantitative Rating as of 4 NOV 2026.
Quantitative Equity Rating Methodology – view here
Five-star price 75.76 Fair value 82.10 One-star price 88.97
Morningstar Quantitative Rating as of 4 NOV 2026.
Morningstar Quantitative Rating as of 4 NOV 2026. The slider runs from the five-star price (75.76) to the one-star price (88.97).
| Ratios |
|---|
| Currency (Price/reporting): AUD/USD |
| Exchange Rate: 1.4579 |
| Price - closing or last bid | 62.11 |
| Price - 12 month high | 71.10 |
| Price - 12 month low | 51.20 |
| Pricing date | 4 NOV 2026 |
| Volume - avg. trading volume for the last ten days | 0.55 |
| Market capitalization | 28,691.45 |
| 12 Month High price date | 23 FEB 2026 |
| 12 Month Low price date | 18 MAY 2026 |
| Volume - avg. trading volume for the last 3 months | 0.63 |
| Price - 1 Day % Change | -7.79% |
| Price - 13 week price percent change | -4.94% |
| Price - 26 week price percent change | 17.65% |
| Price - 5 Day % Change | -4.42% |
| Price - 52 week price percent change | 3.34% |
| Price - YTD price percent change | -1.02% |
| Price % Change Month To Date | 2.44% |
| EPS excluding extraordinary items - most recent fiscal year | 2.380 |
| EPS excluding extraordinary items - trailing 12 month | 2.380 |
| EPS Normalized - most recent fiscal year | 4.020 |
| Revenue/share - most recent fiscal year | 50.681 |
| Revenue/share - trailing 12 month | 50.681 |
| Book value per share - most recent fiscal year | 25.525 |
| Book value per share - most recent half-year | 25.525 |
| Book value (tangible) per share - most recent fiscal year | -14.856 |
| Book value (tangible) per share - most recent half-year | -14.856 |
| Cash per share - most recent fiscal year | 2.414 |
| Cash per share - most recent half-year | 2.414 |
| Cash Flow per share - most recent fiscal year | 5.226 |
| Cash Flow per share - trailing 12 month | 5.226 |
| Dividend per share - most recent fiscal year | 2.588 |
| Dividends per share - trailing 12 month | 3.749 |
| EBITD per share - trailing 12 month | 7.206 |
| EPS Basic excluding extraordinary items - most recent fiscal year | 2.390 |
| EPS Basic excluding extraordinary items - trailing 12 month | 2.390 |
| EPS including extraordinary items - most recent fiscal year | 2.390 |
| EPS including extraordinary items - trailing 12 month | 2.390 |
| Free Cash Flow per share - trailing 12 month | 3.238 |
| P/E excluding extraordinary items, most recent fiscal year | 18.41 |
| P/E Normalized, most recent fiscal year | 5.77 |
| Price to sales - most recent fiscal year | 0.83 |
| Price to Tangible Book - most fiscal year | — |
| Price to Free Cash Flow per Share - most recent fiscal year | 13.26 |
| Price to Cash Flow per share - trailing 12 month | 8.01 |
| Price to Book - most recent fiscal year | 1.71 |
| P/E excluding extraordinary items high, trailing 12 months | 35.95 |
| P/E excluding extraordinary items low, trailing 12 months | 16.80 |
| Net Debt, LFI | 15,119.00 |
| Net Debt, LFY | 13,749.00 |
| Dividend Yield - 5 Year Average | 4.86% |
| Dividend Yield - indicated annual dividend divided by closing price | 5.47% |
| Current Dividend Yield - Common Stock Primary Issue, LTM | 6.04% |
| Free Cash Flow - most recent fiscal year | 1,502.00 |
| LT debt/equity - most recent fiscal year | 124.68% |
| Payout ratio - most recent fiscal year | 108.72% |
| Total debt/total equity - most recent fiscal year | 125.96% |
| LT debt/equity - most recent half-year | 137.65% |
| Total debt/total equity - most recent half-year | 143.25% |
| Free Cash Flow - trailing 12 month | 1,502.00 |
| Payout ratio - trailing 12 month | 108.72% |
| Revenue - most recent fiscal year | 23,506.00 |
| Revenue - trailing 12 month | 23,506.00 |
| EBITD - most recent fiscal year | 3,342.00 |
| EBITD - trailing 12 month | 3,342.00 |
| Earnings before taxes - most recent fiscal year | 1,282.00 |
| Earnings before taxes - trailing 12 month | 1,282.00 |
| Net Income available to common - most recent fiscal year | 1,106.00 |
| Net Income available to common - trailing 12 months | 1,106.00 |
| Earnings before taxes Normalized - most recent fiscal year | 1,565.00 |
| Net Income Available to Common, Normalized - most recent fiscal year | 1,863.00 |
| Earnings per Share, Normalized, Excluding Extraordinary Items, Avg. Diluted Shares Outstanding, TTM | 4.02 |
| Net Profit Margin % - 1st historical fiscal year | 4.71% |
| Net Profit Margin % - trailing 12 month | 4.71% |
| Operating margin - 1st historical fiscal year | 9.35% |
| Operating margin - trailing 12 month | 9.35% |
| Pretax margin - trailing 12 month | 5.45% |
| Pretax margin - 1st historical fiscal year | 5.45% |
| Operating Margin - 5 year average | 9.48% |
| Pretax Margin - 5 year average | 6.52% |
| Free Operating Cash Flow/Revenue, 5 Year Average | 7.00% |
| Free Operating Cash Flow/Revenue, TTM | 6.39% |
| Net Profit Margin - 5 year average | 5.28% |
| Return on average assets - most recent fiscal year | 2.97% |
| Return on average assets - trailing 12 month | 2.97% |
| Return on average equity - most recent fiscal year | 9.45% |
| Return on average equity - trailing 12 month | 9.45% |
| Return on average assets - 5 year average | 4.43% |
| Return on average equity - 5 year average | 17.58% |
| Net Income/employee - most recent fiscal year | 14,746.67 |
| Revenue/employee - most recent fiscal year | 313,413.33 |
| Revenue growth rate, 5 year | 12.82% |
| EPS growth rate, 5 year | -4.59% |
| Growth rate% - dividend, 3 year | 2.00% |
| Revenue/share (5 yr growth) | 4.17% |
| Growth rate% - Revenue, 3 year | 16.95% |
| Growth rate% - EPS, 3 year | -12.27% |
| Book value per share growth rate, 5 year | 10.47% |
| Capital Spending growth rate, 5 year | 14.52% |
| Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year CAGR | 11.92% |
Financial forecast (AUD, millions except per share)
| Actuals | Estimates | |||||||
| 2026 | 2027 | 2028 | 2029 | |||||
| Estimate breakdown | ||||||||
Financials (USD, millions)
| Period end: | JUN 22 | JUN 23 | JUN 24 | JUN 25 | JUN 26 |
| Fiscal year: | 2022 | 2023 | 2024 | 2025 | 2026 |
| Period length: | 12 months | 12 months | 12 months | 12 months | 12 months |
Announcements
| DATE | TIME | HEADING | PAGES |
| Price sensitive |
AMC –7.79%: Fell after delivering a mixed September-quarter result, with sales ahead of expectations but earnings slightly light and, more importantly, management cutting its near-term EPS guidance as higher energy and distribution costs bite.
Amcor delivered a better-than-expected fourth quarter last week, with both revenue and earnings ahead of consensus and, importantly, early evidence that the Berry Global acquisition is beginning to deliver. Net sales came in at US$6.4bn, adjusted earnings per share (EPS) rose 23% to US$1.23, and the quarterly dividend was lifted 2% to US65c. The most encouraging part of the result was volumes, with modest growth returning across Amcor’s six core segments, with the momentum carrying into July after several years of destocking and subdued demand.
AMC -0.09%: delivered a better-than-expected fourth quarter, with revenue and earnings both ahead of expectations and encouraging signs that the benefits from the Berry Global acquisition are beginning to come through. The shares were a little softer after the result, but the underlying trends were constructive, particularly around volumes, cost recovery and synergies.
Amcor has been a stock that has weighed on our portfolios over recent times but as it comes good now we definitely don’t intend to cut it. This packaging business is an economically sensitive value name, which, with more than 50% of its revenue generated from the US in FY25, is perfectly positioned for the current economic backdrop, especially in the US. The stock continues to trade at a hefty discount to its historical average valuation while yielding close to 6%, mostly franked.
Amcor rallied strongly in the US, up as much as 8.9%, after delivering a third-quarter result that was broadly in line for earnings, but the top line (revenue) was better, while importantly, its downgraded full-year guidance was not as bad as the market had feared.
The Active Income Strategy continues to do what it’s designed to do, deliver high, consistent income with capital growth over time, while cushioning volatility when markets get tougher – as they are currently.
We are making 3 changes to the Growth Portfolio
AMC delivered a solid second-quarter result, modestly ahead on earnings and with guidance reaffirmed, reinforcing the defensive qualities of the business, while allaying some concerns around the integration of the Berry acquisition.
AMC +5.01%: Shares rallied after delivering its first full quarter result, post merger with Berry Global – the result comfortably ahead of expectations. The company reported a 4% EPS beat, underpinned by strong packaging demand and initial cost synergies beginning to flow through.
MM prefers AMC over ORA into 2027
MM is now neutral on AMC ~$63
MM remains long and bullish towards AMC around $64
MM is long & bullish AMC ~$66
MM is long and bullish towards AMC around $64
MM is long & bullish AMC ~$53
MM is buying AMC in the Active Growth Portfolio, targeting a 4% weighting around $69
MM remains long & bullish AMC ~$65
MM is long and bullish AMC
MM are buying AMC in the Active Income Portfolio, targeting a 4% weighting around $12.62
Amcor is a global producer of plastic packaging primarily for the fast-moving consumer goods industry. About 90% of earnings are exposed to the flexible packaging business. This is soft disposable plastic for a variety of food, drink, healthcare, and hygiene products. The remainder of earnings are from the Latin and North American rigids business, which is primarily beverage bottling for the soft drink industry. Operating in more than 35 countries, Amcor has market share in its established regions of North America, Latin America, Europe, and Asia-Pacific. About half of group sales are derived from North America and the remainder is split equally between Western Europe and emerging markets. Australia and New Zealand sales make up less than 5% of group sales.
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