Munger Mode rating: 2 out of 5 — Sell. Our own rating from the research report below, on business quality first: moat durability and management, with price separating the top three.
Written in the voice of Warren Buffett and Charlie Munger, from the Q2 2026 Form 10-Q (period ended June 30, 2026), recent earnings communications, and current market data. Charlie and I have always said we like businesses a child could draw. Ball Corporation passes that test better than almost anything in the S&P 500: they make aluminum cans. Roughly 12-ounce cylinders, billions and billions of them, filled by other people with beer, soda, energy drinks, and sparkling water. After selling its aerospace division to BAE Systems in February 2024 for $5.6 billion, Ball is now a pure-play aluminum packaging company — the largest beverage can maker in the world. The company reports three segments, realigned in the first quarter of 2026: Q2 net sales were $3,997 million, up 20% from $3,338 million a year ago.
Recent filings analysed: 8-K (2026-08-04), 10-Q (2026-08-04), 8-K (2026-05-05), 10-Q (2026-05-05).
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