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Stocks · Materials · Paperboard Containers & Boxes

Packaging Corporation of America

PKG Clue Score43
United States Fiscal year ends December CIK 0000075677
$230.51 +0.25% Close, 9 Oct 2026
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Price $230.51 +66.93% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue5.78Operating income0.78Net income0.45EPS, diluted4.75Fiscal year 2017Revenue6.44 +11.5%Operating income0.93Net income0.67 +48.7%EPS, diluted7.07 +48.8%Fiscal year 2018Revenue7.01 +8.8%Operating income1.07Net income0.74 +10.4%EPS, diluted7.80 +10.3%Fiscal year 2019Revenue6.96 −0.7%Operating income1.05Net income0.70 −5.6%EPS, diluted7.34 −5.9%Fiscal year 2020Revenue6.66 −4.4%Operating income0.72Net income0.46 −33.8%EPS, diluted4.84 −34.1%Fiscal year 2021Revenue7.73 +16.1%Operating income1.24Net income0.84 +82.5%EPS, diluted8.83 +82.4%Fiscal year 2022Revenue8.48 +9.7%Operating income1.42Net income1.03 +22.4%EPS, diluted11.03 +24.9%Fiscal year 2023Revenue7.80 −8.0%Operating income1.08Net income0.77 −25.7%EPS, diluted8.48 −23.1%Fiscal year 2024Revenue8.38 +7.4%Operating income1.10Net income0.81 +5.2%EPS, diluted8.93 +5.3%Fiscal year 2025Revenue8.99 +7.2%Operating income1.11Net income0.77 −3.9%EPS, diluted8.58 −3.9%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 5.78 6.44 7.01 6.96 6.66 7.73 8.48 7.80 8.38 8.99
Growth +11.5% +8.8% −0.7% −4.4% +16.1% +9.7% −8.0% +7.4% +7.2%
Operating income 0.78 0.93 1.07 1.05 0.72 1.24 1.42 1.08 1.10 1.11
Net income 0.45 0.67 0.74 0.70 0.46 0.84 1.03 0.77 0.81 0.77
Growth +48.7% +10.4% −5.6% −33.8% +82.5% +22.4% −25.7% +5.2% −3.9%
EPS, diluted 4.75 7.07 7.80 7.34 4.84 8.83 11.03 8.48 8.93 8.58
Growth +48.8% +10.3% −5.9% −34.1% +82.4% +24.9% −23.1% +5.3% −3.9%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin22.1%Operating margin13.6%Net margin7.8%Free cash flow margin9.2%Fiscal year 2017Gross margin22.8%Operating margin14.5%Net margin10.4%Free cash flow margin8.0%Fiscal year 2018Gross margin23.5%Operating margin15.2%Net margin10.5%Free cash flow margin9.0%Fiscal year 2019Gross margin23.6%Operating margin15.1%Net margin10.0%Free cash flow margin11.6%Fiscal year 2020Gross margin20.6%Operating margin10.9%Net margin6.9%Free cash flow margin9.2%Fiscal year 2021Gross margin24.2%Operating margin16.1%Net margin10.9%Free cash flow margin6.3%Fiscal year 2022Gross margin24.7%Operating margin16.8%Net margin12.1%Free cash flow margin7.9%Fiscal year 2023Gross margin21.8%Operating margin13.8%Net margin9.8%Free cash flow margin10.8%Fiscal year 2024Gross margin21.3%Operating margin13.1%Net margin9.6%Free cash flow margin6.2%Fiscal year 2025Gross margin21.0%Operating margin12.3%Net margin8.6%Free cash flow margin8.1%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 22.1% 22.8% 23.5% 23.6% 20.6% 24.2% 24.7% 21.8% 21.3% 21.0%
Operating margin 13.6% 14.5% 15.2% 15.1% 10.9% 16.1% 16.8% 13.8% 13.1% 12.3%
Net margin 7.8% 10.4% 10.5% 10.0% 6.9% 10.9% 12.1% 9.8% 9.6% 8.6%
Free cash flow margin 9.2% 8.0% 9.0% 11.6% 9.2% 6.3% 7.9% 10.8% 6.2% 8.1%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow0.81Capital expenditure−0.27Free cash flow0.53Buybacks−0.10Dividends paid−0.22Fiscal year 2017Operating cash flow0.86Capital expenditure−0.34Free cash flow0.51 −3.7%Dividends paid−0.24Fiscal year 2018Operating cash flow1.18Capital expenditure−0.55Free cash flow0.63 +22.5%Dividends paid−0.27Fiscal year 2019Operating cash flow1.21Capital expenditure−0.40Free cash flow0.81 +28.5%Buybacks0.00Dividends paid−0.30Fiscal year 2020Operating cash flow1.03Capital expenditure−0.42Free cash flow0.61 −24.3%Buybacks0.00Dividends paid−0.30Fiscal year 2021Operating cash flow1.09Capital expenditure−0.61Free cash flow0.49 −20.0%Buybacks−0.19Dividends paid−0.38Fiscal year 2022Operating cash flow1.50Capital expenditure−0.82Free cash flow0.67 +37.2%Buybacks−0.52Dividends paid−0.42Fiscal year 2023Operating cash flow1.32Capital expenditure−0.47Free cash flow0.85 +26.0%Buybacks−0.04Dividends paid−0.45Fiscal year 2024Operating cash flow1.19Capital expenditure−0.67Free cash flow0.52 −38.3%Buybacks0.00Dividends paid−0.45Fiscal year 2025Operating cash flow1.56Capital expenditure−0.83Free cash flow0.73 +39.7%Buybacks−0.15Dividends paid−0.45
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 0.81 0.86 1.18 1.21 1.03 1.09 1.50 1.32 1.19 1.56
Capital expenditure −0.27 −0.34 −0.55 −0.40 −0.42 −0.61 −0.82 −0.47 −0.67 −0.83
Free cash flow 0.53 0.51 0.63 0.81 0.61 0.49 0.67 0.85 0.52 0.73
Growth −3.7% +22.5% +28.5% −24.3% −20.0% +37.2% +26.0% −38.3% +39.7%
Buybacks −0.10 n/a n/a 0.00 0.00 −0.19 −0.52 −0.04 0.00 −0.15
Dividends paid −0.22 −0.24 −0.27 −0.30 −0.30 −0.38 −0.42 −0.45 −0.45 −0.45

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash0.24Total debt2.65Net cash (debt)−2.41Shareholders’ equity1.76Debt to equity1.50Fiscal year 2017Cash0.22Total debt2.63Net cash (debt)−2.41Shareholders’ equity2.18Debt to equity1.21Fiscal year 2018Cash0.36Total debt2.48Net cash (debt)−2.12Shareholders’ equity2.67Debt to equity0.93Fiscal year 2019Cash0.68Total debt2.48Net cash (debt)−1.80Shareholders’ equity3.07Debt to equity0.81Fiscal year 2020Cash0.97Total debt2.48Net cash (debt)−1.50Shareholders’ equity3.25Debt to equity0.76Fiscal year 2021Cash0.62Total debt2.47Net cash (debt)−1.85Shareholders’ equity3.61Debt to equity0.69Fiscal year 2022Cash0.32Total debt2.47Net cash (debt)−2.15Shareholders’ equity3.67Debt to equity0.67Fiscal year 2023Cash0.65Total debt2.87Net cash (debt)−2.22Shareholders’ equity4.00Debt to equity0.72Fiscal year 2024Cash0.69Total debt2.47Net cash (debt)−1.79Shareholders’ equity4.40Debt to equity0.56Fiscal year 2025Cash0.53Total debt3.97Net cash (debt)−3.44Shareholders’ equity4.60Debt to equity0.86
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.24 0.22 0.36 0.68 0.97 0.62 0.32 0.65 0.69 0.53
Total debt 2.65 2.63 2.48 2.48 2.48 2.47 2.47 2.87 2.47 3.97
Net cash (debt) −2.41 −2.41 −2.12 −1.80 −1.50 −1.85 −2.15 −2.22 −1.79 −3.44
Shareholders’ equity 1.76 2.18 2.67 3.07 3.25 3.61 3.67 4.00 4.40 4.60
Debt to equity 1.50 1.21 0.93 0.81 0.76 0.69 0.67 0.72 0.56 0.86

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Cash flow

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Operations
0.81 0.86 1.18 1.21 1.03 1.09 1.50 1.32 1.19 1.56
Growth +6.1% +37.8% +2.3% −14.5% +5.9% +36.6% −12.0% −9.4% +30.8%
0.36 0.39 0.41 0.39 0.41 0.42 0.46 0.52 0.53 0.65
Investment
−0.27 −0.34 −0.55 −0.40 −0.42 −0.61 −0.82 −0.47 −0.67 −0.83
calc 0.53 0.51 0.63 0.81 0.61 0.49 0.67 0.85 0.52 0.73
Growth −3.7% +22.5% +28.5% −24.3% −20.0% +37.2% +26.0% −38.3% +39.7%
calc 5.68 5.48 6.70 8.59 6.48 5.17 7.24 9.45 5.83 8.13
−0.77 −0.61 −0.61 −0.55 −0.43 −0.79 −0.83 −0.88 −0.28 −2.57
Financing
0.02 −0.27 −0.43 −0.34 −0.31 −0.66 −0.96 −0.11 −0.88 0.86
−0.22 −0.24 −0.27 −0.30 −0.30 −0.38 −0.42 −0.45 −0.45 −0.45
−0.10 n/a n/a 0.00 0.00 −0.19 −0.52 −0.04 0.00 −0.15

Lines marked calc are worked out here from filed figures; point at one for how. Capital expenditure, dividends and buybacks are shown as money out, so negative.