PKGNYSEPaperboard Containers & BoxesFiscal year ends December 31
PACKAGING CORP OF AMERICA
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 7, 2026
$236.38+0.38 (+0.16%)
Close on Oct 19, 2026
- Market cap
- $21.04B
- P/E (TTM)
- 30.7
- Dividend yield
- 2.12%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
21.0%+0.5 pts over 5 years
Operating margin
12.3%+1.4 pts over 5 years
Net margin
8.6%+1.7 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +7.2% | +2.0% | +6.2% | +4.6% | |
| Gross profit | +6.0% | -3.3% | +6.7% | +4.6% | |
| Operating income | +0.5% | -8.0% | +8.9% | +4.0% | |
| Net income | -3.9% | -9.1% | +10.9% | +5.9% | |
| EPS, diluted | -3.9% | -8.0% | +12.1% | +6.7% | |
| Free cash flow | +39.7% | +2.8% | +3.6% | +4.8% | |
| Dividend per share | 0.0% | +1.7% | +8.2% | +8.6% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 26.5% | 14.6% | 17.2% | |
| Return on assets | 8.1% | 6.3% | 7.9% | |
| Current ratio | 2.71 | 3.51 | 3.17 | |
| Debt to equity | 1.50 | 0.76 | 0.86 | |
| Net debt to EBITDA | 2.11× | 1.33× | 1.95× | |
| Inventory turnover | 6.4× | 6.7× | 6.0× | |
| Capex to revenue | 4.7% | 6.3% | 9.2% | |
| Diluted shares | 94M | 94M | 90M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Packaging Corp Of America generated $6.65B from operations and spent $6.46B on capital expenditure, dividends and share buybacks. 53% of that went back into the business.
Generated
$6.65B
Used
$6.46B
Capital expenditure$3.40B53%Dividends$2.15B33%Share buybacks$910.10M14%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin8.6%
×Asset turnover0.92×
×Equity multiplier2.17×
=Return on equity, FY202517.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 8.6% | 0.92× | 2.17× | 17.2% |
| FY2024 | 9.6% | 0.96× | 2.08× | 19.2% |
| FY2023 | 9.8% | 0.94× | 2.18× | 20.0% |
| FY2022 | 12.1% | 1.07× | 2.18× | 28.3% |
| FY2021 | 10.9% | 1.01× | 2.23× | 24.5% |
| FY2020 | 6.9% | 0.91× | 2.32× | 14.6% |
| FY2019 | 10.0% | 1.01× | 2.40× | 24.3% |
| FY2018 | 10.5% | 1.10× | 2.63× | 30.4% |
| FY2017 | 10.4% | 1.08× | 3.04× | 33.9% |
| FY2016 | 7.8% | 1.05× | 3.26× | 26.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$774.10M
- Cash generatingOperating cash flow above zero$1.56B
- Return on assets improvedROA up on the prior year9.3% → 8.8%
- Earnings backed by cashOperating cash flow above net income$1.56B vs $774.10M
- Less leverageLong-term debt to assets fell28.0% → 37.0%
- Better liquidityCurrent ratio rose3.23 → 3.17
- No dilutionShare count did not rise90M → 90M
- Gross margin improvedGross margin up on the prior year21.27% → 21.02%
- More efficientAsset turnover rose0.97 → 1.02