O-I Glass

Packaging & Containers · Consumer Cyclical

Price

$9.10

-0.50 (-5.21%)

Market Cap

$1.40B

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count falling — buybacks

−4.2% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 160.3M (2021) → 153.6M (2025)

O-I Glass makes glass bottles and jars used to package food, beer, wine, spirits, and non-alcoholic drinks. Its customers are large consumer brands like beverage and food companies that need containers for their products. O-I Glass is one of the largest glass container manufacturers in the world.

The company earns revenue by selling glass containers directly to these brand customers, typically under multi-year supply contracts. O-I Glass operates across North America, Europe, Latin America, and the Asia-Pacific region, giving it a broad global footprint. Glass has a natural advantage over plastic in certain markets because many premium beverage brands prefer it for taste, image, and sustainability reasons — but the company faces real pressure from high energy costs, since making glass requires intense heat, and from competition with cheaper plastic and aluminum packaging alternatives.

Winston Score History

Politician Trades

2 trades / 12mo

1 Congressional buy and 1 sell on OI in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-1.7% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-380.0% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$42M/ year

↓ Declining (-48% vs prior year)

0.7% of revenue

Below sector average (4%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

2.2%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~2 months

$317M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

O-I Glass has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

12.9%

Thin — 12.9% gross margin

Operating Margin

5.9%

Thin — 5.9% operating margin

ROCE

1.5%

Weak — 1.5% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

-1.6%

Shrinking sales (-1.6% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

0.6%

Thin free cash flow (0.6%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

3.89

Heavy debt load (3.89)

Interest Cover

1.61x

Dangerous — barely covers interest (1.6x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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