{"schemaVersion":1,"research":true,"symbol":"amcr","name":"Amcor plc","topic":"moat","path":"/stock/amcr/moat","status":"published","version":7,"updatedAt":"2026-10-19T16:15:20.563Z","locked":false,"publicFairValue":false,"fairValue":null,"moat":{"verdict":"uncertain","summary":"Amcor demonstrates procurement savings, productivity gains, contractual raw-material recovery and early commercial benefits from the Berry combination. The passages do not establish durable cost superiority, protected differentiation or customer switching barriers relative to named competitors. Pricing power is mixed: realized cost recovery coexists with unfavorable price/mix, including in the latest quarter. This supports uncertainty about a moat, rather than a demonstrated absence of one.","advantages":[{"mechanism":"cost_advantage","claim":"Current procurement, operational and corporate savings are demonstrated; a sustained cost advantage over competitors remains unestablished.","durability":"Fiscal 2026 synergy delivery and segment operating bridges support an existing capability. The remaining three-year synergy target is prospective, and no comparative unit-cost evidence establishes lasting superiority.","risks":"Savings may be competed away through pricing, offset by weaker demand or consumed by integration costs. Actual manufacturing inefficiencies and inventory discrepancies demonstrate execution friction.","invalidation":"The durable-cost-advantage hypothesis would weaken materially if realized savings reverse, recurring integration spending absorbs their benefits, or repeated price concessions prevent savings from supporting cash generation.","competitors":["AptarGroup, Inc.","Huhtamaki Oyj","Silgan Holdings Inc.","Sonoco Products Company"],"evidenceIds":["e1","e2","e3","e4"],"counterEvidenceIds":["e5","e6","e7"]},{"mechanism":"intangible_assets","claim":"Amcor claims an advantage from its intellectual property and demonstrates substantial innovation resources. Early business wins support commercial relevance, but protected differentiation and associated pricing premiums are unproven.","durability":"The portfolio and continuing research investment could support differentiation. The passages do not establish patent scope, remaining protection periods, exclusive customer dependence or sustained innovation returns.","risks":"Intellectual property expires, packaging preferences and regulations change, and competitors may offer effective alternatives. Broader product offerings and revenue-synergy targets do not themselves establish switching costs.","invalidation":"The differentiation hypothesis would weaken if new products fail to win repeat orders, comparable alternatives eliminate premiums, or regulatory changes render existing formats obsolete without successful replacement products.","competitors":["AptarGroup, Inc.","Huhtamaki Oyj","Silgan Holdings Inc.","Sonoco Products Company"],"evidenceIds":["e4","e8","e9","e10"],"counterEvidenceIds":["e5","e11","e12","e13"]}],"evidence":[{"id":"e1","sourceId":"filing-3","location":"Proxy shareholder letter: realized fiscal 2026 synergies","excerpt":"We are also seeing clear benefits from the combination, including $285 million in synergies from procurement, corporate functions and operational initiatives — 10% ahead of our expectations for the year."},{"id":"e2","sourceId":"filing-1","location":"MD&A: flexible packaging adjusted EBIT operating bridge","excerpt":"Excluding the positive impacts from the Merger, net of divestments, of approximately $250 million or 18%, and the positive currency impacts of approximately $34 million, the remaining variation in Adjusted EBIT for fiscal year 2026 was an increase of approximately $107 million or 8%, mainly reflecting synergy benefits from the Merger, operating cost performance and productivity benefits of approximately 12%, partially offset by lower volumes of approximately 3%, and unfavorable impacts from price/mix of approximately 1%."},{"id":"e3","sourceId":"filing-1","location":"MD&A: rigid packaging adjusted EBIT operating bridge","excerpt":"Excluding the positive impacts from the Merger, net of divestments, of approximately $635 million, or 146% and the positive currency impacts of $42 million, the remaining variation in adjusted EBIT for fiscal year 2026 was an increase of $64 million, or 15%, reflecting synergy benefits from the Merger and operating cost performance of approximately 26%, partially offset by the negative effect of approximately 11% from unfavorable volumes and lower earnings in non-core businesses."},{"id":"e4","sourceId":"filing-1","location":"Business: named competitors","excerpt":"Competitors include 3M, AptarGroup, Inc., Avery Dennison Corporation, Ball Corporation, Crown Holdings, Inc., Graphic Packaging International, Inc., Huhtamaki Oyj, International Paper Company, O-I Glass, Inc., Orora Limited, Packaging Corporation of America, Silgan Holdings Inc., Smurfit WestRock, and Sonoco Products Company, and a variety of privately held companies."},{"id":"e5","sourceId":"filing-7","location":"Fourth-quarter results: estimated comparable price/mix","excerpt":"The Company estimates that price/mix had an unfavorable impact of approximately (1%) on comparable prior year net sales, excluding non-core and divested businesses."},{"id":"e6","sourceId":"filing-9","location":"Non-GAAP reconciliation footnote: inventory discrepancies, manufacturing inefficiencies and facility closures","excerpt":"(1) Three months ended December 31, 2025 primarily reflects restructuring and integration costs incurred in connection with the Berry Global acquisition, inclusive of inventory discrepancies of $15 million, including errors from prior periods, tied to manufacturing inefficiencies and other management issues which supported the decision to close three facilities in Asia."},{"id":"e7","sourceId":"filing-7","location":"Full-year results: free cash flow after transaction, restructuring and integration costs","excerpt":"Free cash flow was $1,303 million after funding approximately $290 million of net transaction, restructuring and integration costs."},{"id":"e8","sourceId":"filing-1","location":"Business: issuer assertion concerning patents, licenses and trademarks","excerpt":"Our patents, licenses, and trademarks collectively provide a competitive advantage."},{"id":"e9","sourceId":"filing-3","location":"Proxy shareholder letter: research spending and innovation resources","excerpt":"We invest approximately $170 million annually in research and development, with ten Innovation Centers worldwide and a team of 1,500 professionals With this scale and depth of expertise, we are accelerating innovation in material science, packaging and sustainability to help customers address complex challenges involving recyclability, circularity and carbon reduction."},{"id":"e10","sourceId":"filing-3","location":"Proxy shareholder letter: reported new business wins","excerpt":"New business wins during the year reached approximately half of our three-year goal."},{"id":"e11","sourceId":"filing-1","location":"Business: limited significance of any single patent or license","excerpt":"However, the loss of any single patent or license alone would not have a material adverse effect on our results of operations as a whole or those of our reportable segments."},{"id":"e12","sourceId":"filing-1","location":"Business: expiration or termination of intellectual property","excerpt":"Patents, patent applications, and license agreements will expire or terminate over time by operation of law, in accordance with their terms, or otherwise."},{"id":"e13","sourceId":"filing-1","location":"Risk factors: potential packaging substitution and obsolescence","excerpt":"For example, increasing focus on reducing packaging waste and limiting the use of petrochemical components, may decrease demand for certain products or render portions of our existing portfolio less relevant or obsolete."},{"id":"e14","sourceId":"filing-1","location":"MD&A: flexible packaging realized raw-material recovery, volumes and price/mix","excerpt":"Excluding the increase of sales from the Merger, net of divestments, of approximately $2,240 million, or 22%, the positive currency impacts of approximately $333 million, and the positive impacts from the pass-through of higher raw material costs of approximately $240 million, the remaining variation in net sales for fiscal year 2026 was a decrease of approximately $50 million, reflecting unfavorable sales volumes of approximately 1%, partially offset by favorable price/mix impact."},{"id":"e15","sourceId":"filing-1","location":"MD&A: rigid packaging realized volume and price/mix declines","excerpt":"Excluding the increase of sales from the Merger, net of divestments, of approximately $5,624 million, or 114%, and the positive currency impacts of $318 million, the remaining variation in net sales for fiscal year 2026 was a decrease of $208 million, or 4%, reflecting unfavorable volumes of approximately 3% and unfavorable price/mix of approximately 1%."},{"id":"e16","sourceId":"filing-1","location":"Market risk: contractual raw-material pass-through within predefined periods","excerpt":"Across our business, we have a number of contractual provisions that allow for pass through of raw material price fluctuations to customers within predefined periods."},{"id":"e17","sourceId":"filing-1","location":"Risk factors: possible price-adjustment delays","excerpt":"In addition, there may be delays in adjusting prices to correspond with underlying raw material costs and corresponding impacts on our working capital and level of indebtedness and any failure to anticipate or mitigate against such movements could have a material adverse effect on our business, financial condition, results of operations, or cash flows."},{"id":"e18","sourceId":"filing-3","location":"Proxy shareholder letter: management assessment of integration and customer stability","excerpt":"The Berry business is now largely integrated, enabled by: industry-leading safety performance maintained through a period of significant change; a stable customer base that is responding positively to the broader products, services and innovation capabilities of the combined company; and a harmonized organization that has performed effectively through a demanding operating environment."},{"id":"e19","sourceId":"filing-7","location":"Fourth-quarter results: estimated combined-business volume growth","excerpt":"The Company estimates that volumes were approximately 0.5% higher than estimated combined volumes for the legacy Amcor and legacy Berry businesses in the June quarter last year, excluding non-core and divested businesses."},{"id":"e20","sourceId":"filing-3","location":"Proxy shareholder letter: management claim of inflation mitigation through productivity and pricing","excerpt":"Our global teams mobilized quickly to protect continuity of supply for customers, while using productivity initiatives and responsible pricing actions to fully mitigate these inflationary pressures."},{"id":"e21","sourceId":"filing-1","location":"MD&A: gross-margin improvement attributed to synergies and productivity","excerpt":"Gross profit as a percentage of sales increased to 20.0% for fiscal year 2026, driven primarily by synergies and continued disciplined execution against cost and productivity initiatives."},{"id":"e22","sourceId":"filing-3","location":"Proxy shareholder letter: completed non-core divestitures","excerpt":"Strengthening the portfolio During the year, we completed divestitures of five non-core businesses representing approximately $500 million in annual revenue."},{"id":"e23","sourceId":"filing-7","location":"Full-year cash-flow statement: operating cash, capital spending, dividends and financing","excerpt":"GAAP Condensed Consolidated Statements of Cash Flows (Unaudited)\nTwelve Months Ended June 30, \n($ million)\n2025\n2026\nNet income\n518 \n1,106 \nDepreciation, amortization, and impairment\n722 \n1,479 \nNet gain on disposal of businesses and investments\n(8)\n(54)\nChanges in operating assets and liabilities, excluding effect of acquisitions, divestitures, and \ncurrency\n(53)\n(273)\nOther non-cash items\n211 \n(107)\nNet cash provided by operating activities \n1,390 \n2,151 \nPurchase of property, plant, and equipment and other intangible assets\n(580)\n(922)\nProceeds from sales of property, plant, and equipment and other intangible assets\n18 \n73 \nBusiness acquisitions and Investments in affiliated companies, and other\n(1,653)\n(17)\nProceeds from divestitures\n113 \n272 \nProceeds from sale of affiliated companies and other investments\n70 \nNet debt proceeds/(repayments)\n1,876 \n(65)\nDividends paid\n(845)\n(1,195)\nShare buy-back/cancellations\n— \n(1)\nPurchase of treasury shares, proceeds from exercise of options and tax withholdings for share-based incentive plans\n(107)\n(65)\nOther, including effects of exchange rate on cash and cash equivalents\n27 \n(13)\nNet increase/decrease in cash and cash equivalents\n239 \n288 \nCash and cash equivalents at the beginning of the year\n588 \n827 \nCash and cash equivalents at the end of the year\n827 \n1,115"},{"id":"e24","sourceId":"filing-9","location":"February fiscal 2026 guidance: expected free cash flow","excerpt":"•Free Cash Flow of $1.8 billion to $1.9 billion."},{"id":"e25","sourceId":"filing-8","location":"May fiscal 2026 guidance: revised expected free cash flow","excerpt":"•Free Cash Flow revised to be $1.5-1.6 billion"},{"id":"e26","sourceId":"filing-3","location":"Compensation discussion: actual incentive outcomes and missed three-year EPS growth range","excerpt":"Short-Term Incentive Long-Term Incentive Outcome Some targets met Some targets met Highlights •Total recordable incident rate (TRIR) of 0.47 and 53% of sites operating injury-free for over 12 months •Net sales of $23.5 billion •GAAP net income of $1,106 million •Adjusted EPS of $4.02 •Adjusted EBITDA of $3,673 million •Free cash flow of $1,303 million •Relative Total Shareholder Returns (“TSR”) performance at 41st percentile (above 35th percentile threshold) •Although we delivered double-digit EPS growth in 2026, the average 3-year adjusted EPS growth of 4.1% did not meet the target range of 5-10% Compensation Policy Compensation Objectives Our executive compensation strategy, frameworks, and programs are designed to: •Align compensation to business strategy and outcomes that deliver value to our shareholders."},{"id":"e27","sourceId":"filing-3","location":"Compensation discussion: actual fiscal 2026 equity award composition","excerpt":"Fiscal year 2026 awards consist of grants of performance share units, share options and restricted share units, representing 60%, 20% and 20% of the total award value, respectively, each as described below."},{"id":"e28","sourceId":"filing-3","location":"Compensation discussion: PSU vesting metrics and return gateway","excerpt":"Vesting is determined at the end of the performance period based on performance against two equally weighted metrics: adjusted EPS with an adjusted RoAFE gateway and relative TSR measured against a peer group of companies (the \"TSR Peer Group\"), each as described below."},{"id":"e29","sourceId":"filing-3","location":"Governance highlights: independent chair, voting structure, shareholder rights and ownership requirements","excerpt":"Geographic Presence Gender Composition Racial / Ethnic Composition Gender & Ethnic Composition Asia Female 50% Diverse Racially or Ethnically Diverse Europe United States Male Amcor plc | 2026 Proxy Statement 7 Table of Contents Tenure* Age 45-59 years More than 10 years Less than 3 years 66 years or older 5.7 years Average Tenure 65.1 years Average Age 3-10 years 60-65 years *Includes service on Berry’s Board of Directors prior to the Merger Skills and Experience Executive Leadership Manufacturing and Operations Innovation and Technology llllllllll 10 llllllllll 5 llllllllll 4 International Business Experience Strategy and M&A Professional Services llllllllll 8 llllllllll 8 llllllllll 4 Fast Moving Consumer Goods IT/Cybersecurity Sustainability llllllllll 5 llllllllll 5 llllllllll 7 Corporate Governance Highlights All Director nominees, other than the Chief Executive Officer (“CEO”), are independent Independent Chairman of the Board Regular executive sessions of independent Directors Annual election of all Directors Proactive shareholder engagement program Single class of shares No shareholder rights plan (poison pill) Shareholder right to call special meeting Stock ownership requirements for Directors and Executive Officers Active Board and Audit Committee oversight of risk management Active Board and Audit Committee oversight of cybersecurity Full Board engagement and active oversight of sustainability with strategic focus Annual comprehensive Board and committee evaluations Ongoing Board refreshment with an emphasis on diversity of backgrounds, viewpoints, skills and experiences Mandatory Director retirement at age 75 No Directors are overboarded pursuant to Amcor’s policy for limitations on board service All share capital is composed of voting shares; Amcor does not have any non-voting shares Amcor plc | 2026 Proxy Statement 8 Table of Contents Executive Compensation Highlights Our executive compensation framework plays a key role in aligning compensation to business strategy and outcomes that deliver value to shareholders."},{"id":"e30","sourceId":"filing-3","location":"Compensation footnote: board flexibility to adjust EPS and return hurdles","excerpt":"PepsiCo, Inc.\nWoolworths Group Limited\n(1)The Board has flexibility to adjust the EPS and RoAFE hurdles, or adjust the structure of these hurdles, to ensure they remain appropriate"},{"id":"e31","sourceId":"filing-3","location":"Compensation footnote: circumstances for performance-hurdle adjustments","excerpt":"in the event of material events or strategic initiatives that affect the relevance of the performance conditions."},{"id":"e32","sourceId":"filing-3","location":"Governance: actual director meeting attendance","excerpt":"Each Director attended at least 75 percent of the aggregate of the total number of Board meetings and committee meetings on which they served while a member of the Board."},{"id":"e33","sourceId":"filing-3","location":"Governance: regular sessions without non-independent directors","excerpt":"The Board meets in regularly scheduled executive sessions without non-independent Directors in connection with each regularly scheduled Board meeting and at other times as necessary."},{"id":"e34","sourceId":"filing-3","location":"Proposal 5: proposed 2026 share plan awaiting shareholder approval","excerpt":"Amcor plc | 2026 Proxy Statement 55 Table of Contents Proposal 5 Approval of the Amcor plc 2026 Omnibus Management Share Plan Our Board is asking our shareholders to approve the Amcor plc 2026 Omnibus Management Share Plan (the “2026 Plan”), including the authority to issue 12.1 million newly authorized ordinary shares under the 2026 Plan."},{"id":"e35","sourceId":"filing-3","location":"Proposal 5: existing shareholder-approved 2019 share plan","excerpt":"We currently deliver long term incentive compensation under our 2019 Omnibus Management Share Plan (the “2019 Plan”), a shareholder-approved plan."},{"id":"e36","sourceId":"filing-7","location":"Presentation limitations: combined-volume estimates are not Article 11 pro forma information","excerpt":"For the avoidance of doubt, combined volume performance information is not intended to be, and was not, prepared on a basis consistent with pro forma financial information required by Article 11 of Regulation S-X."},{"id":"e37","sourceId":"filing-1","location":"Business: historical operating cash-flow seasonality","excerpt":"Historically, cash flow from operations has been lower in the six months ending December 31, and higher in the six months ending June 30, due to moderate seasonality, working capital requirements, and the timing of certain cash payments made in the six months ending December 31, including incentive compensation."},{"id":"e38","sourceId":"filing-2","location":"Quarterly MD&A: realized EPS decline despite higher net income","excerpt":"Diluted earnings per share (\"Diluted EPS\") decreased by $0.08, or 12%, for the three months ended March 31, 2026, compared to the three months ended March 31, 2025, with the net income available to ordinary shareholders of Amcor plc increasing by 42% due to the above items and the diluted weighted average number of shares increasing by 60% for the three months ended March 31, 2026, compared to the three months ended March 31, 2025."},{"id":"e39","sourceId":"filing-2","location":"Quarterly MD&A: merger-related share issuance","excerpt":"The increase in the diluted weighted-average number of shares outstanding was largely due to the completion of the Merger with Berry and the related share issuances."}],"changes":["Retain the uncertain moat verdict and null moat grades: current savings and innovation capabilities still do not establish durable competitive protection.","Retain pricing-power grades of 2, incorporating latest-quarter unfavorable comparable price/mix alongside actual raw-material recovery.","Reduce execution from 3 to 2 after weighing above-plan synergies and completed divestitures against inventory discrepancies, manufacturing issues, missed cash-flow guidance and the missed three-year EPS growth range.","Retain capital discipline at 2 using full-year cash-flow evidence; full-year operating cash covered capital expenditure, while cash remaining after capital expenditure was close to dividends paid. Earlier seasonal cash shortfalls are not treated as persistent annual funding failure.","Retain incentive alignment and governance at 3 based on current adopted arrangements and actual disclosures; exclude the proposed 2026 plan from evidence of adoption."],"limitations":["All sources are supplied issuer filings. Operating outcomes and contractual terms support numerical assessments, but comparative superiority, customer stability and innovation leadership remain partly management assertions.","The 2026 competition passage names rivals, but provides no rival unit costs, market shares, innovation outcomes or customer-switching comparisons. The competitor arrays are illustrative subsets of that passage, not established product-by-product coverage.","No customer retention rate, renewal history, quantified switching expense, exclusive customer arrangement or demonstrated product premium is supplied. Retention is assessed indirectly from demand and commercial disclosures.","Price/mix combines pricing and product mix; raw-material pass-through establishes recovery capability without establishing discretion to expand economic spreads.","Combined legacy-business volume comparisons are company estimates and are expressly not Article 11 pro forma information.","Management ownership requirements are disclosed, but individual holdings and compliance are not established by these passages.","Source dates are filing dates, preserving dateKind=filed. The September 29, 2026 proxy describes a future November shareholder vote; proposed plan provisions are not treated as adopted.","Potential obsolescence, customer loss and adjustment delays are risks, not evidence that those outcomes have occurred."],"qualityAssessments":[{"category":"moat","checks":[{"criterion":"structural_advantage","grade":null,"rationale":"Realized savings and intellectual-property claims identify plausible mechanisms, but the supplied evidence cannot establish structural superiority relative to competitors.","evidenceIds":["e1","e2","e3","e4","e8"]},{"criterion":"durability","grade":null,"rationale":"Recent merger benefits do not establish a durable barrier. Intellectual-property expiration is disclosed, without enough information to assess portfolio protection or replacement economics.","evidenceIds":["e1","e11","e12"]},{"criterion":"customer_dependency","grade":null,"rationale":"Management reports customer stability and new wins, but neither establishes switching friction or customer dependence on Amcor.","evidenceIds":["e10","e18"]},{"criterion":"erosion_resilience","grade":null,"rationale":"Cost recovery and productivity show operating resilience, but cannot establish resilience of an otherwise unproven moat. Actual unfavorable price/mix and potential format obsolescence constrain confidence.","evidenceIds":["e2","e3","e5","e13","e14"]}]},{"category":"pricing_power","checks":[{"criterion":"realized_pricing","grade":2,"rationale":"Flexible packaging realized approximately $240 million of higher raw-material pass-through and favorable sales price/mix. Rigid packaging recorded approximately 1% unfavorable price/mix, and latest-quarter comparable company price/mix was approximately 1% unfavorable. Outcomes are mixed; price/mix does not isolate pure pricing.","evidenceIds":["e14","e15","e5"]},{"criterion":"retention","grade":2,"rationale":"Management reports a stable customer base and new business wins, while estimated comparable fourth-quarter volumes rose approximately 0.5%. These indirectly support continuing demand, tempered by full-year segment volume declines. No retention rate or demonstrated switching barrier is established.","evidenceIds":["e18","e10","e19","e14","e15","e36"]},{"criterion":"margin_resilience","grade":2,"rationale":"Actual operating bridges and gross-margin improvement show that synergies and productivity offset volume and pricing pressures. Management attributes inflation mitigation jointly to productivity and pricing. Resilience is demonstrated, but its dependence on savings prevents a strong pricing-power assessment.","evidenceIds":["e2","e3","e20","e21","e5"]},{"criterion":"contractual_freedom","grade":2,"rationale":"Contracts permit raw-material pass-through within predefined periods, establishing meaningful but bounded price-adjustment rights. Possible delays are disclosed, and broad discretion to expand spreads or reset other terms is unestablished.","evidenceIds":["e16","e17","e14"]}]},{"category":"strong_management","checks":[{"criterion":"capital_discipline","grade":2,"rationale":"Completed divestitures, realized savings and $1.303 billion of free cash flow after integration costs support discipline. Full-year operating cash of $2.151 billion covered $922 million of capital spending; the resulting $1.229 billion was close to $1.195 billion of dividends. Cash flow missed earlier guidance, and merger share issuance accompanied interim EPS dilution. Durable acquisition returns remain unproven.","evidenceIds":["e22","e1","e7","e23","e24","e25","e37","e38","e39"]},{"criterion":"incentive_alignment","grade":3,"rationale":"Actual fiscal 2026 grants allocated 60% to PSUs, with EPS, a return gateway and relative TSR determining vesting. Ownership requirements and disclosed partial target achievement support substantive alignment. Board adjustment flexibility and missing individual ownership compliance limit confidence. The proposed 2026 plan is excluded from adopted arrangements.","evidenceIds":["e27","e28","e29","e26","e30","e31","e34","e35"]},{"criterion":"execution","grade":2,"rationale":"Reported synergies exceeded annual expectations by 10%, five non-core divestitures closed and operating bridges show delivered savings. These achievements coexist with disclosed inventory discrepancies and manufacturing management issues, free cash flow below both February and May guidance, and three-year EPS growth below its target range. The overall outcome is mixed.","evidenceIds":["e1","e22","e2","e3","e6","e7","e24","e25","e26"]},{"criterion":"governance","grade":3,"rationale":"An independent chair, a single voting class, shareholder special-meeting rights, regular independent sessions and actual director attendance support strong governance practices. These establish functioning oversight arrangements without proving exceptional effectiveness; nominee independence is not treated as a completed election.","evidenceIds":["e29","e32","e33"]}]}],"financialAssessments":[],"qualityPolicy":"quality-scores-2","sourcePolicy":"issuer-evidence-7","basisHash":"3340b45f1503282eb24e3fbe73d0ffd4e537cbcf715f1746d572ea21b969ca93","updatedAt":"2026-10-19T16:15:20.563Z","sources":[{"id":"filing-1","url":"https://www.sec.gov/Archives/edgar/data/1748790/000174879026000022/amcr-20260630.htm","publishedAt":"2026-08-14","sha256":"67ca302adf95f74e7af7d812cde6ccc7a6e7c1e2a83584eb6ef0a41d3ff5e37b","dateKind":"filed","citationPolicy":"numeric-lines-1"},{"id":"filing-2","url":"https://www.sec.gov/Archives/edgar/data/1748790/000174879026000016/amcr-20260331.htm","publishedAt":"2026-05-07","sha256":"37962b7a89d0d7b5fa11c4de2a9cf28c5b6b08db51ec6aabe237194826703499","dateKind":"filed","citationPolicy":"numeric-lines-1"},{"id":"filing-3","url":"https://www.sec.gov/Archives/edgar/data/1748790/000174879026000025/amcr-20260929.htm","publishedAt":"2026-09-29","sha256":"403d621d19fb13fa5158cd35956d3d78dbf0cff11afe7c7b307d9f379b079561","dateKind":"filed","citationPolicy":"numeric-lines-1"},{"id":"filing-4","url":"https://www.sec.gov/Archives/edgar/data/1748790/000174879025000023/amcr-20250630.htm","publishedAt":"2025-08-15","sha256":"e24d85be7087e663f390995dfb1728090ad0975158d742253b52dbb05ec6ce62","dateKind":"filed","citationPolicy":"numeric-lines-1"},{"id":"filing-5","url":"https://www.sec.gov/Archives/edgar/data/1748790/000174879024000022/amcr-20240630.htm","publishedAt":"2024-08-16","sha256":"b7b3a28c0ce9dfdb41880e4555ba066ebf33a74a49cd0f0402b66767f6d23583","dateKind":"filed","citationPolicy":"numeric-lines-1"},{"id":"filing-6","url":"https://www.sec.gov/Archives/edgar/data/1748790/000174879026000006/amcr-20251231.htm","publishedAt":"2026-02-04","sha256":"1bd52d695a365409d9b704f61bd853c07b2d8f729a90dae3f1e3106868437b90","dateKind":"filed","citationPolicy":"numeric-lines-1"},{"id":"filing-7","url":"https://www.sec.gov/Archives/edgar/data/1748790/000174879026000020/amcor4q2026ex991-june302026.htm","publishedAt":"2026-08-12","sha256":"eec69f0e33583ca11ba423ffca0813b3c07e9edd8bd04e931ae73a83033c5dac","citationPolicy":"numeric-lines-1","dateKind":"filed"},{"id":"filing-8","url":"https://www.sec.gov/Archives/edgar/data/1748790/000174879026000014/exhibit991q32026.htm","publishedAt":"2026-05-06","sha256":"a85f4ff9772339fcc6388969854744b29485f70c66963db5e25f40af2618f3f7","citationPolicy":"numeric-lines-1","dateKind":"filed"},{"id":"filing-9","url":"https://www.sec.gov/Archives/edgar/data/1748790/000174879026000004/exhibit991q22026.htm","publishedAt":"2026-02-03","sha256":"b4b746ed482ddc24e828bb7a55a6ef235a962e44d4b40b949c402e5b24ce736b","citationPolicy":"numeric-lines-1","dateKind":"filed"}],"model":"gpt-6.1-sol","providerId":"codex:9d31c7150cfa4f2fe5cb7adff02e87920b1e82a97b6b0e5ceff06834697450f9","usage":{"input_tokens":114396,"cached_input_tokens":21120,"cache_write_input_tokens":0,"output_tokens":4443,"reasoning_output_tokens":117}},"signals":[{"period":"2022","end":"2022-06-30","values":{"gross_margin":19.389438943894387,"operating_margin":8.518976897689768,"roic":9.004143679662443,"fcf_margin":6.868811881188119,"sbc_revenue":0.4331683168316832},"issues":{"peg":"TTM earnings per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roiic":"Invested capital did not increase versus the prior year. 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ROIIC requires a positive increase.","roic_wacc":"Enter a WACC assumption from 0 to 100%."}},{"period":"2025","end":"2025-06-30","values":{"gross_margin":18.88200413085482,"operating_margin":6.722633086814578,"roic":4.558451669499424,"fcf_margin":5.396761942834299,"sbc_revenue":0.4930375108268372},"issues":{"peg":"TTM earnings per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","pfcf_growth":"TTM FCF per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roic_wacc":"Enter a WACC assumption from 0 to 100%."}},{"period":"2026","end":"2026-06-30","values":{"gross_margin":19.952352590827875,"operating_margin":8.078788394452479,"roic":6.561743167387078,"fcf_margin":5.228452310048498,"sbc_revenue":0.35310133582915004},"issues":{"software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roiic":"Invested capital did not increase versus the prior year. 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