AMCR vs ATR: Which Is the Better Buy in 2026?
Last updated October 2026
Short answer
AMCR is the larger of the two ($21.35B market cap): the incumbent the market prices for continued execution (10.67x forward earnings, beta 0.58). ATR is the smaller challenger ($7.92B), actually pricier on forward earnings (20.04x): more room to run, but more to prove. The real question is which set of drivers you believe, and whether owning one (or both) leaves you over-concentrated.
AMCR vs ATR: the tie-breaker metrics
Same yardstick, side by side (as of October 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.
| Metric | AMCR | ATR | What it tells you |
|---|---|---|---|
| Market cap | $21.35B | $7.92B | Size. The larger name is the incumbent; the smaller has more room to grow and more to prove. |
| Forward P/E | 10.67 | 20.04 | Valuation on next year's expected earnings, the same yardstick for both. Lower is cheaper for that growth; higher means the market is paying up. |
| Trailing P/E | 19.42 | 22.47 | Valuation on the last 12 months. A big drop from trailing to forward means the market expects earnings to jump, so more growth is already in the price. |
| Beta | 0.58 | 0.34 | Volatility vs the market. Above 1 swings harder than the index; below 1 is steadier. Higher beta means bigger drawdowns to hold through. |
| Price vs 52-week range | 68% of range | 49% of range | Where today's price sits between the 52-week low and high. Near the high is momentum with less margin of safety; near the low is out of favor or a discount, depending on why. |
| Price / book | 1.81 | 3.01 | How much you pay over book value. Very high can signal an asset-light, high-return business or a rich price. |
Reading it: AMCR is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.
Before you buy: how AMCR and ATR affect your concentration
The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. AMCR and ATR share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.
This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined AMCR and ATR exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.
What does Amcor plc (AMCR) do?
Amcor plc makes the packaging most shoppers touch every day without noticing: the film around fresh meat and cheese, the pouch holding pet food, blister and sterile packs for medicines, PET bottles for soft drinks, and plastic containers for food service and beauty products. Founded in Australia in 1926 and now headquartered in Zurich, it listed on the NYSE in 2019 after buying Bemis, and in April 2025 it closed an all-stock merger with Berry Global that roughly doubled its rigid plastics business. The combined company employs about 75,000 people and reports in two segments, Global Flexible Packaging Solutions and Global Rigid Packaging Solutions. In January 2026 it completed a one-for-five reverse stock split, so today's ~$46 share price is not comparable to the ~$10 quotes from 2025.
What does AptarGroup (ATR) do?
AptarGroup makes the precision dispensing and drug-delivery systems that sit on top of everyday products: nasal spray and inhaler valves for pharma, pumps and airless systems for fragrance and skincare, and dispensing and non-dispensing closures for food, beverage, personal care, and home care. The company runs three reporting segments (Pharma, Beauty, and Closures), with Pharma generating the bulk of profit thanks to long-cycle, regulated, high-margin drug-delivery contracts. Aptar serves a global customer base and positions itself around active material science and delivery precision rather than commodity packaging.
AMCR vs ATR: how do they differ?
Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.
- AMCR drivers: Berry Global synergies; Volume recovery in core categories.
- ATR drivers: High-margin pharma drug delivery; Beauty and consumer recovery.
Which fits which kind of investor
A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: Leverage is the central risk. For ATR, core organic sales have been roughly flat, so headline growth has leaned on acquisitions and currency, which is lower-quality growth.
AMCR or ATR: which should you pick?
Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick AMCR if you believe its drivers more; ATR if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the AMCR and ATR guides.
AMCR vs ATR: the full fundamentals
AMCR. At ~$46.17 on October 26, 2026, Amcor trades at ~11.5x fiscal 2026 adjusted EPS of ~$4.02 and ~19x GAAP EPS of ~$2.38, the gap reflecting merger amortization and restructuring charges. Enterprise value is ~$34 billion, or roughly 9x EBITDA. The ~5.6% dividend yield is high for a large-cap industrial. That discount reflects leverage, years of soft volumes and scepticism about synergy delivery. Guidance of ~$1.80 to ~$1.90 for the six months to December and double-digit growth in calendar 2027 would, if met, bring the forward multiple closer to ~10x.
ATR. At $125 Aptar trades at about 23 times trailing and 20 times forward earnings, and about 11.5 times EBITDA, a premium to commodity packagers that rests on the pharma franchise and the dividend record. Analysts see 2026 EPS roughly flat at about $5.51 before a rebound to about $6.21 in 2027, so the multiple only looks reasonable if that recovery arrives. The key tension remains paying for quality while organic growth is near flat.
Headline figures (approximate, October 2026): AMCR shows revenue (fy2026, to june) ~$23.5B, adjusted eps (fy2026) ~$4.02, p/e (adjusted / gaap) ~11.5x / ~19x, market cap ~$21.3B; ATR shows revenue (ttm) ~$3.93B (Q2 2026 +6% y/y), q2 2026 sales / adjusted eps ~$1.03B / $1.42 (vs $1.35 est.), margins Gross ~36%, operating ~12.5%, net ~9%, net income (ttm) ~$363M.
The bottom line: AMCR vs ATR
AMCR and ATR are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined AMCR and ATR exposure against your real portfolio. It is not an investment adviser.
Wondering how AMCR or ATR fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in Amcor plc with AI
Connect the broker you already use and ask Walnut's AI how AMCR fits what you actually hold: whether you own it already through a fund, what it would do to your concentration, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What is the difference between AMCR and ATR?
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Amcor plc makes the packaging most shoppers touch every day without noticing: the film around fresh meat and cheese, the pouch holding pet food, blister and sterile packs for medicines, PET bottles for soft drinks, and plastic containers for food service and beauty products. AptarGroup makes the precision dispensing and drug-delivery systems that sit on top of everyday products: nasal spray and inhaler valves for pharma, pumps and airless systems for fragrance and skincare, and dispensing and non-dispensing closures for food, beverage, personal care, and home care. They show up together because they share investment themes, but they are different businesses, so the better fit depends on which thesis you are expressing.
Is AMCR or ATR the better stock?
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Neither is universally better. AMCR is the larger incumbent; ATR is the smaller challenger and looks pricier on forward earnings. Walnut is informational, not investment advice. Compare what each does, the tie-breaker metrics above, and the risks, then decide which fits your thesis and what you already own.
Which is cheaper, AMCR or ATR?
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On forward P/E (as of October 2026), AMCR trades at 10.67x and ATR at 20.04x, so AMCR is the cheaper of the two on next year's expected earnings. A lower multiple is not automatically the better buy: a richer valuation can be justified by faster growth, and a lower one can reflect real risk. Weigh the multiple against how fast each business is compounding.
Should you own both AMCR and ATR?
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Because they share themes, owning both concentrates you in that theme. That can be intentional (a focused bet) or accidental (less diversification than it looks). Walnut can show your combined exposure across both, and whether adding either over-concentrates you, before you buy.
What are the risks of AMCR vs ATR?
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AMCR: Leverage is the central risk. With ~$12.9 billion of net debt and leverage near ~3.5x, a stumble in earnings or cash flow would slow deleveraging and could pressure the dividend, which already absorbs roughly half of the ~$2.5 billion free cash flow management is guiding to. Higher interest and tax expense is already a ~$0.10 to ~$0.12 per share headwind in the transition period. Resin and input costs are a second exposure: Middle East disruption in 2026 drove what management called unprecedented inflation, and while Amcor passed through ~$280 million of price in the June quarter, pass-through lags can squeeze margins and tie up working capital, as the ~$500 million build showed. Volumes have been weak for years, especially in healthcare (lower-margin categories), North American beverage, and liquids, and the recent turn is only one quarter old. Integration execution matters too, since the 2027 EPS growth call leans heavily on synergies. Regulatory pressure on single-use plastics, including EU packaging rules and extended producer responsibility fees, could raise costs or shift demand toward paper and reusable formats. Finally, law firms have advertised investigations on behalf of former Berry holders, though no securities class action had been filed as of October 2026. ATR: Core organic sales have been roughly flat, so headline growth has leaned on acquisitions and currency, which is lower-quality growth. The planned decline in emergency medicine dispensing sales (about $65 million in 2026) is a known drag on the otherwise strong pharma segment, and analysts expect third-quarter EPS of about $1.47, roughly 9% below the year-ago quarter. Beauty and closures are exposed to consumer discretionary weakness, customer destocking, and input-cost swings. The Russian subsidiary placed under temporary state administration in September 2026 adds a write-down or loss-of-control risk that Aptar has not yet sized. Net debt of about $1.2 billion is moderate. At a P/E near 23 the stock is not cheap for a low-single-digit organic grower, and currency translation adds volatility given the company's large international footprint.
Walnut is informational, not investment advice. This page is descriptive and not a recommendation to buy or sell AMCR or ATR; figures are approximate and dated (as of October 2026). Verify current data before investing.