Financials · PKG

Packaging Corporation of America (PKG) financials

For the twelve months ended Sep 30, 2026, Packaging Corporation of America reported $9.82B of revenue and $727.10M of net income.

Revenue, TTM
$9.82B
Revenue growth, YoY
+12.0%
Net income, TTM
$727.10M
Net income growth, YoY
-18.6%
Net margin
7.4%
Free cash flow, TTM
$686.60M
EPS, diluted, TTM
$8.13
EPS growth, YoY
-17.8%
Cash
$534.60M
Total debt
$3.97B
P/E
30.60
P/S
2.26
Market cap
$22.25B
Annual revenue$8.99B
FY2016FY2025
Annual net income$774.10M
FY2016FY2025
Annual free cash flow$728.60M
FY2016FY2025

PKG revenue and earnings growth

PKG revenueQ3 2026$2.60B

Quarter YoY
+12.5%
QoQ
+4.5%
FY YoY
+7.2%
5Y CAGR
+6.2%
10Y CAGR
+4.6%

PKG revenue was $2.60B in fiscal Q3 2026 (ended Sep 30, 2026), up 12.5% from a year earlier and up 4.5% from the prior quarter. For the full fiscal 2025 it was $8.99B, up 7.2% from fiscal 2024. Compound annual growth was +6.2% over 5 years and +4.6% over 10 years. It rose in 7 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

PKG net incomeQ3 2026$262.30M

Quarter YoY
+15.6%
QoQ
+36.5%
FY YoY
-3.9%
5Y CAGR
+10.9%
10Y CAGR
+5.9%

PKG net income was $262.30M in fiscal Q3 2026 (ended Sep 30, 2026), up 15.6% from a year earlier and up 36.5% from the prior quarter. For the full fiscal 2025 it was $774.10M, down 3.9% from fiscal 2024. Compound annual growth was +10.9% over 5 years and +5.9% over 10 years. It rose in 6 of the last 10 fiscal years.

PKG EPSQ3 2026$2.93

Quarter YoY
+16.7%
QoQ
+36.3%
FY YoY
-3.9%
5Y CAGR
+12.1%
10Y CAGR
+6.7%

PKG diluted EPS was $2.93 in fiscal Q3 2026 (ended Sep 30, 2026), up 16.7% from a year earlier and up 36.3% from the prior quarter. For the full fiscal 2025 it was $8.58, down 3.9% from fiscal 2024. Compound annual growth was +12.1% over 5 years and +6.7% over 10 years.

PKG free cash flowQ3 2026$224.30M

Quarter YoY
-19.9%
QoQ
+31.9%
FY YoY
+39.7%
5Y CAGR
+3.6%
10Y CAGR
+4.8%

PKG free cash flow was $224.30M in fiscal Q3 2026 (ended Sep 30, 2026), down 19.9% from a year earlier and up 31.9% from the prior quarter. For the full fiscal 2025 it was $728.60M, up 39.7% from fiscal 2024. Compound annual growth was +3.6% over 5 years and +4.8% over 10 years. It rose in 6 of the last 10 fiscal years.

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Income statement

Income statement
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue$8.99B$8.38B$7.80B$8.48B$7.73B$6.66B$6.96B$7.01B$6.44B$5.78B
Cost of revenue$7.10B$6.60B$6.10B$6.39B$5.86B$5.29B$5.32B$5.37B$4.97B$4.50B
Gross profit$1.89B$1.78B$1.70B$2.09B$1.87B$1.37B$1.64B$1.65B$1.47B$1.28B
Research and development----$14.50M$15.50M$16.00M$14.40M$12.80M$13.30M
Selling, general and admin$634.20M$610.30M$580.90M$608.60M$576.80M$539.60M$557.60M$536.40M$519.90M$468.50M
Operating income$1.11B$1.10B$1.08B$1.42B$1.24B$723.90M$1.05B$1.07B$932.50M$783.30M
Pre-tax income$1.03B$1.06B$1.01B$1.36B$1.11B$632.70M$917.00M$970.50M$828.60M$688.50M
Income tax$253.70M$259.30M$248.90M$335.00M$267.60M$171.70M$220.60M$232.50M$160.00M$238.90M
Net income$774.10M$805.10M$765.20M$1.03B$841.10M$461.00M$696.40M$738.00M$668.60M$449.60M
EPS, basic$8.61$8.97$8.52$11.08$8.87$4.86$7.36$7.82$7.09$4.76
EPS, diluted$8.58$8.93$8.48$11.03$8.83$4.84$7.34$7.80$7.07$4.75
Diluted shares89.6M89.5M89.5M92.7M94.5M94.4M94.1M93.9M93.7M93.7M

Balance sheet

Balance sheet
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Cash and equivalents$529.00M$685.00M$648.00M$320.00M$618.70M$974.60M$679.50M$361.50M$216.90M$239.30M
Receivables$1.26B$1.14B$1.03B$1.03B$1.07B$832.40M$845.60M$901.90M$830.70M$689.20M
Inventory$1.24B$1.12B$1.01B$977.30M$902.50M$787.90M$794.10M$795.60M$762.50M$723.60M
Current assets$3.21B$3.23B$3.25B$2.51B$2.73B$2.75B$2.48B$2.12B$1.92B$1.70B
Goodwill$1.37B$922.40M$922.40M$922.40M$923.50M$863.50M$918.70M$917.30M$883.20M$737.90M
Total assets$10.73B$8.83B$8.68B$8.00B$7.84B$7.43B$7.24B$6.57B$6.20B$5.78B
Current liabilities$1.02B$1.00B$1.27B$875.50M$884.80M$782.60M$723.80M$693.60M$832.70M$625.40M
Short-term debt-$0$399.60M$0-$0$0$0$150.00M$25.80M
Long-term debt$3.97B$2.47B$2.47B$2.47B$2.47B$2.48B$2.48B$2.48B$2.48B$2.62B
Total debt$3.97B$2.47B$2.87B$2.47B$2.47B$2.48B$2.48B$2.48B$2.63B$2.65B
Total liabilities$6.13B$4.43B$4.68B$4.34B$4.23B$4.19B$4.16B$3.90B$4.01B$4.02B
Shareholders' equity$4.60B$4.40B$4.00B$3.67B$3.61B$3.25B$3.07B$2.67B$2.18B$1.76B

Cash flow

Cash flow
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Operating cash flow$1.56B$1.19B$1.32B$1.50B$1.09B$1.03B$1.21B$1.18B$856.10M$806.90M
Capital expenditures$828.90M$669.70M$469.70M$824.20M$605.10M$421.20M$399.50M$551.40M$343.00M$274.30M
Free cash flow$728.60M$521.50M$845.40M$670.80M$489.00M$611.60M$807.90M$628.70M$513.10M$532.60M
Investing cash flow-$2.57B-$277.80M-$875.10M-$833.70M-$794.40M-$426.10M-$546.60M-$608.20M-$609.10M-$769.60M
Financing cash flow$859.40M-$876.40M-$112.00M-$960.00M-$655.60M-$311.60M-$342.80M-$427.30M-$269.40M$17.80M
Dividends paid$449.60M$448.80M$448.90M$420.30M$379.80M$299.60M$298.70M$268.10M$237.60M$216.10M
Share repurchases$153.00M$0$41.50M$522.60M$193.00M$0$0--$100.30M
Stock-based compensation$45.20M$48.80M$40.00M$35.60M$35.50M$30.00M$30.40M$23.50M$20.60M$19.70M
Depreciation and amortization$652.80M$525.60M$517.70M$456.80M$417.50M$410.00M$387.50M$410.90M$391.40M$358.00M

Key ratios

Key ratios
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue growth, YoY7.2%7.4%-8.0%9.7%16.1%-4.4%-0.7%8.8%11.5%0.6%
Net income growth, YoY-3.9%5.2%-25.7%22.4%82.5%-33.8%-5.6%10.4%48.7%2.9%
EPS growth, YoY-3.9%5.3%-23.1%24.9%82.4%-34.1%-5.9%10.3%48.8%6.3%
Gross margin21.0%21.3%21.8%24.7%24.2%20.6%23.6%23.5%22.8%22.1%
Operating margin12.3%13.1%13.8%16.8%16.1%10.9%15.1%15.2%14.5%13.6%
Net margin8.6%9.6%9.8%12.1%10.9%6.9%10.0%10.5%10.4%7.8%
Free cash flow margin8.1%6.2%10.8%7.9%6.3%9.2%11.6%9.0%8.0%9.2%
Return on equity16.8%18.3%19.1%28.1%23.3%14.2%22.7%27.6%30.6%25.5%
Return on assets7.2%9.1%8.8%12.9%10.7%6.2%9.6%11.2%10.8%7.8%
Current ratio3.173.232.572.863.093.513.423.052.302.71
Debt to equity0.860.560.720.670.690.760.810.931.211.50

Source: XBRL data Packaging Corporation of America files with the SEC, latest filing dated Nov 5, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

PKG peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
PKG$9.82B+12.0%$727.10M7.4%$22.25B
KMB$16.57B+0.6%$3.30B19.9%$66.54B
SW$31.48B+1.1%$473.00M1.5%$23.13B
BALL$15.13B+19.2%$532.00M3.5%$17.16B
AVY$9.36B+6.8%$708.30M7.6%$14.10B
CCK$13.77B+13.4%$857.00M6.2%$13.11B
WMS$3.26B+9.2%$405.49M12.4%$9.37B
REYN$3.80B+2.5%$323.00M8.5%$5.08B
SON$7.37B+3.6%-$227.21M-3.1%$4.99B

PKG FAQ

9 questions
  • What is PKG revenue?
    Packaging Corporation of America (PKG) reported $9.82B of revenue for the twelve months ended Sep 30, 2026. That is up 12.0% from the year before. Revenue for fiscal 2025 was $8.99B.
  • Is PKG profitable?
    Yes. Packaging Corporation of America earned $727.10M in net income for the twelve months ended Sep 30, 2026, a net margin of 7.4%.
  • How much cash and debt does PKG have?
    Packaging Corporation of America reported $534.60M in cash and cash equivalents and $3.97B of debt on its most recent balance sheet in SEC filings.
  • How fast is PKG revenue growing?
    Packaging Corporation of America's revenue changed +7.2% in fiscal 2025, to $8.99B. Its compound annual growth rate was +6.2% over 5 years and +4.6% over 10 years.
  • What is PKG gross margin?
    Packaging Corporation of America's gross profit was $2.02B on $9.82B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 20.5%.
  • What is PKG free cash flow?
    Packaging Corporation of America generated $686.60M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $1.62B less capital expenditures.
  • What is PKG earnings per share?
    Diluted earnings per share were $8.13 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did PKG last report financial results?
    The latest statements here come from Packaging Corporation of America's 10-Q filed on Nov 5, 2026, covering the period ended Sep 30, 2026.
  • Where does this PKG financial data come from?
    Quantisnow builds these statements from the structured XBRL data Packaging Corporation of America files with the SEC. It is provided for information only and is not investment advice.