Ardagh Metal Packaging S.A. (AMBP) Balance Sheet

NYSE: AMBPAssets, liabilities, debt and equity over 8 years.

AMBP balance sheet, 2025

December 31, 2025 · U.S. dollars

$5.68B assets = $6.35B liabilities + −$675.0M equity

Liabilities exceed assets: shareholders’ equity is negative (−$675.0M).

Both columns are drawn to the same scale: what AMBP owns equals what it owes plus shareholders’ equity. Hover a block for its value.

AMBP financial health

Current ratio1.06

Adequate · current assets cover current liabilities 1.06×

Equity / assets−12.0%

Thin equity · of assets funded by shareholders

Cash / debt11.8%

Low cash cover · cash & short-term investments vs total debt

Goodwill & intangibles20.8%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

AMBP balance sheet trends, 2018–2025

Ardagh Metal Packaging S.A. balance sheet trends
Metric	Then	Latest	Change
Total assets	$4.02B2018	$5.68B2025	+5.0%/yr
Total liabilities	$3.88B2018	$6.35B2025	+7.3%/yr
Shareholders’ equity	$140.0M2018	−$683.0M2025	—
Cash & short-term investments	$148.0M2018	$522.0M2025	+19.7%/yr
Total debt	$2.73B2018	$4.42B2025	+7.1%/yr
Net cash (debt)	−$2.59B2018	−$3.90B2025	−$1.3B
Working capital	−$603.0M2018	$111.0M2025	+$714.0M
Book value per share	$0.232018	−$1.142025	—
Current ratio	0.592018	1.062025	+0.47
Debt / equity	19.542018	37.342023	+17.80
Shares outstanding	603.3M2018	597.7M2025	−0.1%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

AMBP assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

AMBP liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

AMBP debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

AMBP balance sheet

Ardagh Metal Packaging S.A. annual balance sheet
	2025	2024	2023	2022	2021	2020	2019	2018
Assets
Cash & short-term investments	$522.0M	$602.0M	$434.0M	$555.0M	$560.0M	$280.0M	$284.0M	$148.0M
Cash & equivalents	$522.0M	$602.0M	$434.0M	$555.0M	$435.0M	$257.0M	$284.0M	$148.0M
Short-term investments	—	—	$110.0M	$81.0M	$125.0M	$23.0M	—	—
Receivables	$768.0M	$618.0M	$581.0M	$748.0M	$694.0M	$507.0M	$318.0M	$410.0M
Inventory	$509.0M	$382.0M	$469.0M	$567.0M	$407.0M	$250.0M	$268.0M	$238.0M
Other current assets	$41.0M	$28.0M	$21.0M	$38.0M	$0	$0	$101.0M	$79.0M
Total current assets	$1.84B	$1.63B	$1.50B	$1.91B	$1.66B	$1.04B	$971.0M	$875.0M
Property, plant & equipment (net)	$2.52B	$2.48B	$2.63B	$2.39B	$1.84B	$1.23B	$1.08B	$953.0M
Goodwill & intangible assets	$1.18B	$1.22B	$1.38B	$1.47B	$1.66B	$1.88B	$1.94B	$2.10B
Long-term investments	$0	$0	$0	$0	$0	$0	$0	$0
Other non-current assets	$143.0M	$129.0M	$154.0M	$94.0M	$160.0M	$101.0M	$82.0M	$96.0M
Total assets	$5.68B	$5.46B	$5.67B	$5.87B	$5.33B	$4.25B	$4.07B	$4.02B
Liabilities
Accounts payable	$1.27B	$1.04B	$1.09B	$1.06B	$1.26B	$843.0M	$619.0M	$556.0M
Short-term debt	$118.0M	$105.0M	$94.0M	$68.0M	$66.0M	$54.0M	$42.0M	$697.0M
Deferred revenue	—	—	$28.0M	—	$2.0M	$269.0M	—	—
Total current liabilities	$1.73B	$1.45B	$1.52B	$1.46B	$1.40B	$969.0M	$931.0M	$1.48B
Long-term debt	$4.30B	$3.80B	$3.64B	$3.52B	$2.83B	$2.79B	$0	$0
Other long-term liabilities	$324.0M	$353.0M	$401.0M	$422.0M	$808.0M	$444.0M	$3.12B	$2.40B
Total liabilities	$6.35B	$5.60B	$5.56B	$5.41B	$5.04B	$4.21B	$4.05B	$3.88B
Shareholders' equity
Common stock & paid-in capital	$7.0M	$267.0M	$267.0M	$267.0M	$7.0M	$63.0M	$16.0M	$148.0M
Retained earnings (deficit)	−$972.0M	−$738.0M	−$469.0M	−$144.0M	−$120.0M	$0	—	—
Accumulated other comprehensive income	−$54.0M	−$5.66B	−$5.69B	−$5.66B	−$5.59B	−$15.0M	−$4.0M	−$8.0M
Minority interest	$8.0M	$6.0M	$6.0M	$0	—	—	—	—
Total shareholders' equity	−$683.0M	−$142.0M	$100.0M	$455.0M	$286.0M	$48.0M	$12.0M	$140.0M
Key figures
Total debt	$4.42B	$3.90B	$3.73B	$3.59B	$2.90B	$2.85B	$2.78B	$2.73B
Net cash (debt)	−$3.90B	−$3.30B	−$3.30B	−$3.04B	−$2.34B	−$2.57B	−$2.50B	−$2.59B
Working capital	$111.0M	$182.0M	−$17.0M	$444.0M	$261.0M	$68.0M	$40.0M	−$603.0M
Tangible book value	−$1.86B	−$1.36B	−$1.28B	−$1.02B	−$1.38B	−$1.84B	−$1.93B	−$1.96B
Book value per share	−$1.14	−$0.24	$0.17	$0.76	$0.53	$0.08	$0.02	$0.23
Shares outstanding	597.7M	597.7M	597.6M	601.0M	538.8M	603.3M	603.3M	603.3M
Current ratio	1.06	1.13	0.99	1.30	1.19	1.07	1.04	0.59
Quick ratio	0.75	0.84	0.67	0.89	0.90	0.81	0.65	0.38
Debt / equity	—	—	37.34	7.89	10.13	59.31	231.67	19.54
Equity / assets	−12.0%	−2.6%	1.8%	7.8%	5.4%	1.1%	0.3%	3.5%

Ardagh Metal Packaging S.A. quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23
Assets
Cash & short-term investments	$189.0M	$142.0M	$516.0M	$317.0M	$256.0M	$177.0M	$602.0M	$393.0M	$236.0M	$155.0M	$434.0M	$154.0M
Cash & equivalents	$189.0M	$142.0M	$516.0M	$317.0M	$256.0M	$177.0M	$602.0M	$393.0M	$236.0M	$155.0M	$434.0M	$154.0M
Short-term investments	—	—	—	—	—	—	—	—	—	—	$110.0M	—
Receivables	$1.07B	$959.0M	$685.0M	$805.0M	$837.0M	$816.0M	$618.0M	$752.0M	$698.0M	$674.0M	$581.0M	$831.0M
Inventory	$584.0M	$490.0M	$509.0M	$451.0M	$471.0M	$429.0M	$382.0M	$380.0M	$417.0M	$468.0M	$469.0M	$442.0M
Other current assets	$58.0M	$75.0M	$130.0M	$17.0M	$11.0M	$12.0M	$28.0M	$7.0M	$23.0M	$11.0M	$21.0M	$18.0M
Total current assets	$1.90B	$1.67B	$1.84B	$1.59B	$1.57B	$1.43B	$1.63B	$1.53B	$1.37B	$1.31B	$1.50B	$1.45B
Property, plant & equipment (net)	$2.43B	$2.47B	$2.52B	$2.52B	$2.53B	$2.49B	$2.48B	$2.57B	$2.56B	$2.59B	$2.63B	$2.55B
Goodwill & intangible assets	$2.12B	$1.14B	$1.18B	$1.21B	$1.24B	$1.22B	$1.22B	$1.30B	$1.29B	$2.32B	$1.38B	$1.38B
Long-term investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Other non-current assets	$0	$152.0M	$143.0M	$142.0M	$145.0M	$136.0M	$129.0M	$143.0M	$142.0M	$0	$154.0M	$64.0M
Total assets	$5.57B	$5.42B	$5.68B	$5.46B	$5.49B	$5.27B	$5.46B	$5.54B	$5.37B	$5.38B	$5.67B	$5.44B
Liabilities
Accounts payable	$1.57B	$1.22B	$1.27B	$1.17B	$1.22B	$1.05B	$1.04B	$1.09B	$1.08B	$961.0M	$1.09B	$1.06B
Short-term debt	$131.0M	$241.0M	$118.0M	$140.0M	$112.0M	$109.0M	$105.0M	$104.0M	$285.0M	$305.0M	$94.0M	$79.0M
Deferred revenue	—	—	—	—	—	—	—	$26.0M	$24.0M	−$961.0M	$28.0M	$107.0M
Total current liabilities	$1.79B	$1.58B	$1.73B	$1.46B	$1.48B	$1.31B	$1.45B	$1.31B	$1.44B	$1.38B	$1.52B	$1.27B
Long-term debt	$4.21B	$4.24B	$4.30B	$3.95B	$3.95B	$3.84B	$3.80B	$3.92B	$3.59B	$3.60B	$3.64B	$3.58B
Other long-term liabilities	$311.0M	$296.0M	$324.0M	$377.0M	$381.0M	$347.0M	$353.0M	$404.0M	$356.0M	$362.0M	$401.0M	$348.0M
Total liabilities	$6.32B	$6.11B	$6.35B	$5.79B	$5.81B	$5.50B	$5.60B	$5.63B	$5.39B	$5.35B	$5.56B	$5.20B
Shareholders' equity
Common stock & paid-in capital	$7.0M	$7.0M	$7.0M	$267.0M	$267.0M	$267.0M	$267.0M	$267.0M	$267.0M	$267.0M	$267.0M	$7.0M
Retained earnings (deficit)	−$1.06B	−$1.03B	−$972.0M	−$901.0M	−$864.0M	−$804.0M	−$738.0M	−$660.0M	−$605.0M	−$543.0M	−$469.0M	−$336.0M
Accumulated other comprehensive income	−$5.70B	−$5.66B	−$5.71B	−$5.70B	−$5.72B	−$5.68B	−$5.66B	−$5.69B	−$5.68B	−$5.69B	−$5.69B	−$5.69B
Minority interest	$8.0M	—	$8.0M	$8.0M	$8.0M	—	—	—	—	—	—	—
Total shareholders' equity	−$758.0M	−$698.0M	−$683.0M	−$342.0M	−$326.0M	−$230.0M	−$142.0M	−$95.0M	−$28.0M	$23.0M	$100.0M	$234.0M
Key figures
Total debt	$4.34B	$4.48B	$4.42B	$4.09B	$4.06B	$3.95B	$3.90B	$4.02B	$3.88B	$3.91B	$3.73B	$3.65B
Net cash (debt)	−$4.16B	−$4.34B	−$3.90B	−$3.78B	−$3.81B	−$3.77B	−$3.30B	−$3.63B	−$3.64B	−$3.75B	−$3.30B	−$3.50B
Working capital	$104.0M	$87.0M	$111.0M	$130.0M	$99.0M	$127.0M	$182.0M	$225.0M	−$70.0M	−$76.0M	−$17.0M	$170.0M
Tangible book value	−$2.87B	−$1.83B	−$1.86B	−$1.55B	−$1.57B	−$1.45B	−$1.36B	−$1.40B	−$1.32B	−$2.30B	−$1.28B	−$1.14B
Book value per share	−$1.27	−$1.17	−$1.14	−$0.57	−$0.55	−$0.38	−$0.24	−$0.16	−$0.05	$0.04	$0.17	$0.39
Shares outstanding	597.7M	597.7M	597.7M	597.7M	597.7M	597.7M	597.7M	597.7M	597.7M	597.6M	597.6M	597.6M
Current ratio	1.06	1.06	1.06	1.09	1.07	1.10	1.13	1.17	0.95	0.95	0.99	1.13
Quick ratio	0.70	0.70	0.69	0.77	0.74	0.76	0.84	0.88	0.65	0.60	0.67	0.77
Debt / equity	—	—	—	—	—	—	—	—	—	169.87	37.34	15.62
Equity / assets	−13.6%	−12.9%	−12.0%	−6.3%	−5.9%	−4.4%	−2.6%	−1.7%	−0.5%	0.4%	1.8%	4.3%

Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 5, 2026); data from EODHD.

AMBP financial position

At the end of fiscal 2025 (December 31, 2025), Ardagh Metal Packaging had total assets of $5.7 billion (up 4.0% from a year earlier), total liabilities of $6.4 billion and shareholders' equity of -$683.0 million. It held $522.0 million in cash and short-term investments against $4.4 billion of debt, net debt of $3.9 billion. Its current ratio was 1.06. In the latest quarter (ended June 30, 2026) total assets were $5.6 billion and equity -$758.0 million.

Related: AMBP income statement, AMBP cash flow statement, AMBP key metrics. See the AMBP stock overview for the latest quote and news.

AMBP balance sheet FAQ

What are Ardagh Metal Packaging's total assets?

Ardagh Metal Packaging reported total assets of $5.7 billion at the end of fiscal 2025 (December 31, 2025), compared with $5.5 billion a year earlier.

How much debt does Ardagh Metal Packaging have?

Ardagh Metal Packaging had $4.4 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was —.

How much cash does Ardagh Metal Packaging have?

Ardagh Metal Packaging held $522.0 million in cash and short-term investments at the end of fiscal 2025; with $4.4 billion of debt that is net debt of $3.9 billion.

What is Ardagh Metal Packaging's book value?

Ardagh Metal Packaging's shareholders' equity (book value) was -$683.0 million at the end of fiscal 2025, or −$1.14 per share.

What is Ardagh Metal Packaging's current ratio?

Ardagh Metal Packaging had current assets of $1.8 billion and current liabilities of $1.7 billion, a current ratio of 1.06 (it can cover its short-term obligations).

How much goodwill does Ardagh Metal Packaging have?

Ardagh Metal Packaging carried $1.2 billion of goodwill and intangible assets, 20.8% of total assets, at the end of fiscal 2025.