Overview
PACKAGING CORP OF AMERICA
Latest 10-K: FY2025, filed Feb 26, 2026 · Open the 10-K (Inline XBRL) ↗
- Revenue
- $8.99B
- 7.2%YoYup from FY2024
- TotalRevenue
- Gross profit
- $1.89B
- 6.0%YoYup from FY2024
- GrossProfit
- Operating income
- $1.11B
- 0.5%YoYup from FY2024
- OperatingIncome
- Net income
- $0.77B
- 3.9%YoYdown from FY2024
- NetIncome
- Diluted EPS
- $8.58
- 3.9%YoYdown from FY2024
- EPSDiluted
- Diluted shares
- 89.6M
- 0.1%YoYup from FY2024
- WeightedAvgSharesDiluted
At a glance
Growth
- PACKAGING CORP OF AMERICA reported revenue of $8.99B for fiscal 2025, up 7.2% from fiscal 2024.
- Revenue grew faster than the median S&P 500 member in 3 of the last 5 fiscal years.
Profitability
- Operating margin was 12.3% and net margin was 8.6%, against a median net margin of 12.8% across S&P 500 members for the same fiscal year.
Per share
- Diluted EPS was $8.58, down 3.9% from the prior year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 31, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $8.99B7.2%up Benchmark median 6.4% | $8.38B7.4%up Benchmark median 4.5% | $7.80B8.0%down Benchmark median 4.8% | $8.48B9.7%up Benchmark median 10.3% | $7.73B16.1%up Benchmark median 13.8% | 3.8% Benchmark median 6.6% |
| Gross Profit Median of 315 / 498 | $1.89B6.0%up Benchmark median 6.8% | $1.78B5.0%up Benchmark median 5.5% | $1.70B18.7%down Benchmark median 5.2% | $2.09B11.6%up Benchmark median 8.3% | $1.87B36.8%up Benchmark median 15.7% | 0.2% Benchmark median 6.2% |
| Operating Income Median of 373 / 498 | $1.11B0.5%up Benchmark median 7.3% | $1.10B2.4%up Benchmark median 7.4% | $1.08B24.3%down Benchmark median 4.9% | $1.42B14.4%up Benchmark median 7.5% | $1.24B71.5%up Benchmark median 23.5% | -2.8% Benchmark median 7.2% |
| Net Income | $0.77B3.9%down Benchmark median 4.8% | $0.81B5.2%up Benchmark median 5.7% | $0.77B25.7%down Benchmark median 1.9% | $1.03B22.4%up Benchmark median 1.3% | $0.84B82.5%up Benchmark median 33.9% | -2.1% Benchmark median 4.1% |
| EPS (Diluted) | $8.583.9%down Benchmark median 6.2% | $8.935.3%up Benchmark median 7.9% | $8.4823.1%down Benchmark median 1.9% | $11.0324.9%up Benchmark median 1.5% | $8.8382.4%up Benchmark median 34.8% | -0.7% Benchmark median 5.6% |
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $10.73B21.4%up Benchmark median 5.6% | $8.83B1.8%up Benchmark median 3.4% | $8.68B8.5%up Benchmark median 4.1% | $8.00B2.1%up Benchmark median 2.2% | $7.84B5.4%up Benchmark median 6.7% | 8.2% Benchmark median 4.7% |
| Total Liabilities Median of 357 / 498 | — | — | — | — | — | — Benchmark median 4.4% |
| Stockholders' Equity | $4.60B4.4%up Benchmark median 6.8% | $4.40B10.2%up Benchmark median 5.4% | $4.00B9.0%up Benchmark median 7.3% | $3.67B1.7%up Benchmark median 2.5% | $3.61B11.1%up Benchmark median 9.0% | 6.3% Benchmark median 6.1% |
| Cash & Equivalents | $529.00M22.8%down Benchmark median 5.2% | $685.00M5.7%up Benchmark median 1.9% | $648.00M102.5%up Benchmark median 6.7% | $320.00M48.3%down Benchmark median -8.6% | $618.70M36.5%down Benchmark median -2.9% | -3.8% Benchmark median 2.0% |
| Total Debt | $3.99B†61.4%up Benchmark median 2.1% | $2.47B13.8%down Benchmark median 0.2% | $2.87B16.1%up Benchmark median 0.3% | $2.47B0.7%down Benchmark median 0.1% | $2.49B†0.5%up Benchmark median -0.1% | 12.5% Benchmark median 4.3% |
† Sum of short-term and long-term debt; the company files no total-debt line.
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.56B30.8%up Benchmark median 6.3% | $1.19B9.4%down Benchmark median 4.8% | $1.32B12.0%down Benchmark median 9.9% | $1.50B36.6%up Benchmark median -0.7% | $1.09B5.9%up Benchmark median 10.7% | 9.2% Benchmark median 7.0% |
| Capital Expenditures | $828.90M23.8%up Benchmark median 5.4% | $669.70M42.6%up Benchmark median 2.8% | $469.70M43.0%down Benchmark median 11.3% | $824.20M36.2%up Benchmark median 14.0% | $605.10M43.7%up Benchmark median 8.1% | 8.2% Benchmark median 9.0% |
| Free Cash Flow Median of 378 / 498 | $728.60M39.7%up Benchmark median 7.3% | $521.50M38.3%down Benchmark median 6.1% | $845.40M26.0%up Benchmark median 8.8% | $670.80M37.2%up Benchmark median -11.3% | $489.00M20.0%down Benchmark median 10.2% | 10.5% Benchmark median 4.9% |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
Benchmark median = median of the companies in the benchmark universe on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2025Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
4.2%
Wall Street
on net earnings
FY2024 4.0%
3.9%
Value investor
on free cash flow
FY2024 2.6%
Gap −0.3 pts: Value-investor figure 0.3 points lower
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
P/E 24.0×Value investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Enterprise yield
What a dollar of enterprise value earned
8.0%
Wall Street
on EBITDA
FY2024 7.4%
5.1%
Value investor
on EBIT
FY2024 5.0%
Gap −2.9 pts: Value-investor figure 2.9 points lower
How it’s calculated
Wall Street · on EBITDA
EBITDA ÷ enterprise value (1 ÷ EV/EBITDA)
ev_ebitda (ratio table)
EV/EBITDA 12.4×Value investor · on EBIT
Operating income (EBIT) ÷ enterprise value: depreciation counts as a real cost
operating income ÷ (ev_ebitda × ebitda)
Valuation · Book yield
Net assets behind a dollar of market value
24.9%
Wall Street
on book equity
FY2024 21.9%
17.5%
Value investor
on tangible book
FY2024 17.3%
Gap −7.4 pts: Value-investor figure 7.4 points lower
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 4.0×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
17.2%
Wall Street
ROE: net income ÷ equity
FY2024 19.2%
9.1%
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2024 11.9%
Gap −8.1 pts: Value-investor figure 8.1 points lower
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Quality · Cash margin
Cash profit kept from each dollar of sales
19.6%
Wall Street
EBITDA margin
FY2024 19.4%
8.1%
Value investor
Free-cash-flow margin
FY2024 6.2%
Gap −11.5 pts: Value-investor figure 11.5 points lower
How it’s calculated
Wall Street · EBITDA margin
EBITDA ÷ revenue
ebitda ÷ revenue
Value investor · Free-cash-flow margin
(Operating cash flow − capital expenditures) ÷ revenue: taxes, interest, working capital and capex all paid
free cash flow ÷ revenue
Balance sheet · Liquidity
Short-term assets per dollar of bills due within a year
3.17×
Wall Street
Current ratio
FY2024 3.23×
1.94×
Value investor
Quick ratio, inventory excluded
FY2024 2.10×
Gap −1.23×: Value-investor figure 1.23 lower
How it’s calculated
Wall Street · Current ratio
Current assets ÷ current liabilities
current_ratio (ratio table)
Value investor · Quick ratio, inventory excluded
(Current assets − inventory) ÷ current liabilities
quick_ratio (ratio table)
Balance sheet · Debt cover
How many times one year of earnings repays all debt
0.44×
Wall Street
EBITDA ÷ total debt
FY2024 0.66×
0.18×
Value investor
FCF ÷ total debt
FY2024 0.21×
Gap −0.26×: Value-investor figure 0.26 lower
How it’s calculated
Wall Street · EBITDA ÷ total debt
EBITDA ÷ total debt (short-term + long-term)
ebitda ÷ total debt
Net debt/EBITDA 1.93×Value investor · FCF ÷ total debt
Free cash flow ÷ total debt: what is actually left to repay it
free cash flow ÷ total debt
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on PKG yet.
Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on PKG and publish the result to your public profile.
Cite this page
Data as of Oct 31, 2026. Canonical address: https://valuein.biz/data/PKG
Valuein. (2026, October 31). PACKAGING CORP OF AMERICA (PKG) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/PKG
@misc{valuein_pkg_2026,
author = {{Valuein}},
title = {PACKAGING CORP OF AMERICA (PKG) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/PKG}},
note = {Data as of 2026-10-31; source: SEC EDGAR filings}
}10-K filed Feb 26, 2026 · accession 0001193125-26-074129
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point-in-time · survivorship-free · every number traceable to its SEC filing
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