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O-I Glass, Inc., through its subsidiaries, manufactures and sells glass containers to food and beverage manufacturers in the Americas, Europe, and internationally. The company produces glass containers for alcoholic beverages, including beer, flavored malt beverages, spirits, and wine. It is also involved in the production of glass packaging for various food items, soft drinks, teas, juices, and pharmaceuticals. In addition, the company offers glass containers in a range of sizes, shapes, and colors. It sells its products directly to customers under annual or multi-year supply agreements, as well as through distributors. The company was formerly known as Owens-Illinois, Inc. and changed its name to O-I Glass, Inc. in December 2019. O-I Glass, Inc. was founded in 1903 and is based in Perrysburg, Ohio.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $6.4B | $771M | $-129M | $168M | -10.0% | -1.6% | 21.7% |
| 2024 | $6.5B | $859M | $-106M | $-128M | -9.8% | -8.1% | 2.9% |
| 2023 | $7.1B | $892M | $-103M | $130M | -6.4% | 3.6% | -117.6% |
| 2022 | $6.9B | $1.5B | $584M | $-385M | 41.2% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 6,856 | 7,105 | 6,531 | 6,426 |
| Operating Revenue | - | 6,713 | 6,982 | 6,404 | 6,330 |
| Cost Of Revenue | - | 5,643 | 5,609 | 5,486 | 5,317 |
| Gross Profit | - | 1,213 | 1,496 | 1,045 | 1,109 |
| Operating Expense | - | 628 | 683 | 559 | 508 |
| Research And Development | - | 79 | 92 | 80 | 42 |
| Selling General And Administration | - | 516 | 559 | 450 | 439 |
| Total Expenses | - | 6,271 | 6,292 | 6,045 | 5,825 |
| Operating Income | - | 585 | 813 | 486 | 601 |
| EBITDA | - | 1,498 | 892 | 859 | 771 |
| Normalized EBITDA | - | 1,164 | 1,437 | 1,069 | 1,219 |
| EBIT | - | 1,044 | 409 | 373 | 292 |
| Interest Expense | - | 239 | 342 | 335 | 341 |
| Net Interest Income | - | -239 | -342 | -335 | -341 |
| Other Non Operating Income Expenses | - | 18 | 14 | 18 | 20 |
| Other Income Expense | - | 459 | -404 | -113 | -309 |
| Interest Expense Non Operating | - | 239 | 342 | 335 | 341 |
| Net Non Operating Interest Income Expense | - | -239 | -342 | -335 | -341 |
| Pretax Income | - | 805 | 67 | 38 | -49 |
| Tax Provision | - | 178 | 152 | 126 | 54 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 73.81 | -114.45 | -44.10 | -94.08 |
| Net Income Continuous Operations | - | 627 | -85 | -88 | -103 |
| Net Income From Continuing And Discontinued Operation | - | 584 | -103 | -106 | -129 |
| Net Income From Continuing Operation Net Minority Interest | - | 584 | -103 | -106 | -129 |
| Net Income | - | 584 | -103 | -106 | -129 |
| Net Income Common Stockholders | - | 584 | -103 | -106 | -129 |
| Net Income Including Noncontrolling Interests | - | 627 | -85 | -88 | -103 |
| Normalized Income | - | 323.81 | 327.55 | 59.90 | 224.92 |
| Diluted NI Availto Com Stockholders | - | 584 | -103 | -106 | -129 |
| Basic Average Shares | - | 155.31 | 154.65 | 154.55 | 153.55 |
| Diluted Average Shares | - | 158.99 | 154.65 | 154.55 | 153.55 |
| Reconciled Depreciation | - | 454 | 483 | 486 | 479 |
| Reconciled Cost Of Revenue | - | 5,222 | 5,158 | 5,029 | 4,865 |
| Total Unusual Items | - | 334 | -545 | -210 | -448 |
| Total Unusual Items Excluding Goodwill | - | 334 | -545 | -210 | -448 |
| Minority Interests | - | -43 | -18 | -18 | -26 |
| Net Income Discontinuous Operations | 7 | - | - | - | - |
| Special Income Charges | - | 336 | -541 | -211 | -442 |
| Gain On Sale Of Business | - | 55 | 4 | 6 | 5 |
| Other Special Charges | - | -334 | - | 11 | 4 |
| Impairment Of Capital Assets | - | - | 445 | - | - |
| Restructuring And Mergern Acquisition | - | 53 | 100 | 206 | 443 |
| Gain On Sale Of Security | - | -2 | -4 | 1 | -6 |
| Depreciation Amortization Depletion Income Statement | - | 33 | 32 | 29 | 27 |
| Depreciation And Amortization In Income Statement | - | 33 | 32 | 29 | 27 |
| General And Administrative Expense | - | 516 | 559 | 450 | 439 |
| Other Gand A | - | 496 | 540 | 445 | 434 |
| Salaries And Wages | - | 20 | 19 | 5 | 5 |
| Gain On Sale Of Ppe | 84 | 55 | 4 | 6 | - |
| Other Operating Expenses | 154 | - | - | - | - |
| Selling And Marketing Expense | 433 | 496 | 540 | - | - |
| Earnings From Equity Interest | - | 107 | 127 | 79 | 119 |
| Amortization | - | 33 | 32 | 29 | 27 |
| Amortization Of Intangibles Income Statement | - | 33 | 32 | 29 | 27 |
| Other Taxes | -71 | - | - | - | - |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| O-I Glass, Inc.this co. | OI | $1.2B | -9.54 | 0.95 | -10.0% | 7.10 |
| Wolverine World Wide, Inc. | WWW | $1.3B | 13.63 | 3.20 | 23.5% | 10.33 |
| The Wendy's Company | WEN | $1.3B | 7.79 | 10.95 | 140.6% | 9.78 |
| XPEL, Inc. | XPEL | $1.3B | 24.75 | 4.52 | 18.3% | 16.02 |
| National Vision Holdings, Inc. | EYE | $1.2B | 41.95 | 1.43 |
| - |
| - |
| - |
| - |
| 3.4% |
| 11.96 |
| Pursuit Attractions and Hospitality, Inc. | PRSU | $1.2B | 53.32 | 2.08 | 3.9% | 12.49 |
| LGI Homes, Inc. | LGIH | $1.2B | 16.21 | 0.56 | 3.5% | 33.11 |
| Gentherm Incorporated | THRM | $1.2B | 63.62 | 1.61 | 2.5% | 12.13 |
| Liquidity Services, Inc. | LQDT | $1.2B | 41.00 | 5.67 | 13.8% | 21.79 |
| Peer Median | - | 32.88 | 2.64 | 8.9% | 12.31 | |