Packaging Corporation of America

Materials Paper & Plastic Packaging Products & Materials Lake Forest, Illinois Last filing Feb 26, 2026 · FY2025

                    Revenue
                    FY2025
                
$9.0B
                    3y CAGR +2.0%
                    
                    P73
                    
                    +7.2%
                    
                    Net income
                    FY2025
                
$774.1M
                    Net margin +8.6%
                    
                    P65
                    
                    -3.9%
                    
                    Total assets
                    FY2025
                
$10.7B
                    ROA +7.2%
                    
                    P73
                    
                    +21.4%
                    
                    Operating cash flow
                    FY2025
                
$1.6B
                    FCF margin +8.1%
                    
                    P68
                    
                    +30.8%

18 yrs · FY2008–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Running CAGR since the earliest displayed year.

Balance Sheet

Assets, liabilities, and equity

29 accounts · 5 years

Total assets $10.7B

Total liabilities $1.0B

Shareholders equity $4.6B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	-3.8%	+3.5%	+2.3%	-48.3%	—
Short Term Investments	-4.4%	+5.8%	+139.4%	-1.0%	—
Accounts Receivable	+4.1%	+2.2%	-1.8%	-3.7%	—
Inventory	+8.3%	+7.6%	+6.0%	+8.3%	—
Prepaid Expenses	+16.2%	+52.6%	+15.1%	+24.0%	—
Other Current Assets	+24.9%	+32.6%	+22.3%	-6.5%	—
Total Current Assets	+4.1%	+5.8%	+9.1%	-8.2%	—
Property,Plant and Equipment	+9.0%	+4.6%	+4.6%	+10.5%	—
Operating Lease Assets	+12.1%	+5.1%	+8.3%	+25.2%	—
Goodwill	+10.4%	-0.0%	-0.1%	-0.1%	—
Intangible Assets	+18.2%	-14.6%	-13.7%	-13.1%	—
Other Noncurrent Assets	+24.9%	+32.6%	+22.3%	-6.5%	—
Total Assets	+8.2%	+4.1%	+5.2%	+2.1%	—
Liabilities
Accounts Payable	+1.0%	-1.7%	-5.7%	-9.3%	—
Accrued Liabilities	+34.6%	+0.3%	+10.2%	+10.2%	—
Operating Lease Liabilities	+10.4%	+6.3%	+8.2%	+7.6%	—
Other Current Liabilities	+9.5%	+11.7%	+2.3%	-1.0%	—
Total Current Liabilities	+3.5%	+4.2%	+19.6%	-1.1%	—
Long Term Debt	+12.6%	+0.0%	+0.0%	+0.1%	—
Operating Lease Liabilities Noncurrent	+12.8%	+5.1%	+8.8%	+30.8%	—
Deferred Tax Liabilities	+9.1%	+6.4%	+9.4%	+16.5%	—
Other Noncurrent Liabilities	+9.5%	+11.7%	+2.3%	-1.0%	—
Total Liabilities	+3.5%	+4.2%	+19.6%	-1.1%	—
Equity
Common Stock	+0.0%	+0.0%	+0.0%	+0.0%	—
Additional Paid In Capital	+5.1%	+5.0%	+3.5%	+0.4%	—
Retained Earnings	+6.1%	+6.8%	+5.4%	+2.7%	—
Accumulated Other Comprehensive Income	—	—	—	—	—
Total Stockholders Equity	+6.3%	+6.9%	+5.3%	+1.7%	—
Total Liabilitiesand Equity	+8.2%	+4.1%	+5.2%	+2.1%	—

Income Statement

Revenue, expense, and profitability

17 accounts · 5 years

Revenue $9.0B

Operating income $1.1B

Net income $774.1M

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	+3.8%	+2.7%	+0.5%	+9.7%	—
Expenses Cost of Revenue	+4.9%	+4.1%	+2.1%	+9.1%	—
Expenses Selling,General and Administrative	+2.4%	+1.9%	+0.4%	+5.5%	—
Expenses Depreciation and Amortization	+11.8%	+8.0%	+11.4%	+9.4%	—
Expenses Share Based Compensation	+6.2%	+11.2%	+6.1%	+0.3%	—
Other Income Expense Gross Profit	+0.2%	-1.6%	-4.8%	+11.6%	—
Other Income Expense Operating Income	-2.8%	-3.9%	-6.9%	+14.4%	—
Other Income Expense Interest Expense	-15.9%	-11.2%	-10.6%	-10.0%	—
Other Income Expense Other Income/expense	—	—	—	—	—
Other Income Expense Income Before Tax	-1.9%	-1.4%	-4.4%	+23.1%	—
Income Tax Income Tax Expense	-1.3%	-1.0%	-3.6%	+25.2%	—
net Income net Income	-2.1%	-1.4%	-4.6%	+22.4%	—
net Income Comprehensive Income	-3.9%	-2.9%	-6.5%	+10.1%	—
Earnings Per Share Basic Eps	-0.7%	+0.4%	-2.0%	+24.9%	—
Earnings Per Share Diluted Eps	-0.7%	+0.4%	-2.0%	+24.9%	—
Earnings Per Share Weighted Average Shares Basic	-1.3%	-1.8%	-2.7%	-1.9%	—
Earnings Per Share Weighted Average Shares Diluted	-1.3%	-1.8%	-2.7%	-1.9%	—

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 5 years

Operating cash flow $1.6B

Investing cash flow $-2.6B

Financing cash flow $859.4M

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	-2.1%	-1.4%	-4.6%	+22.4%	—
Operating Activities Depreciation and Amortization	+11.8%	+8.0%	+11.4%	+9.4%	—
Operating Activities Stock Based Compensation	+6.2%	+11.2%	+6.1%	+0.3%	—
Operating Activities Deferred Income Taxes	+13.1%	—	-70.4%	+44.8%	—
Operating Activities Changes In Operating Assets and Liabilities	—	+5.3%	-66.0%	-90.4%	—
Operating Activities Other Non Cash Items	-69.7%	+26.7%	+5.7%	-83.2%	—
Operating Activities net Cash From Operating Activities	+9.2%	+2.9%	+9.6%	+36.6%	—
Investing Activities Capital Expenditures	+8.2%	+3.4%	-11.9%	+36.2%	—
Investing Activities Business Acquisitions	+74.4%	—	—	—	—
Investing Activities Purchases of Investments	-2.8%	-3.6%	-8.3%	-1.0%	—
Investing Activities Proceeds From Sale of Investments	+0.4%	-0.7%	-1.5%	-12.6%	—
Investing Activities net Cash From Investing Activities	—	—	—	—	—
Financing Activities Repayment of Debt	-15.9%	-11.2%	-10.6%	-10.0%	—
Financing Activities Repurchase of Common Stock	-5.6%	—	-53.6%	+170.8%	—
Financing Activities Dividends Paid	+4.4%	+5.9%	+9.0%	+16.1%	—
Financing Activities Tax Withholding On Stock Based Compensation	+16.3%	+25.8%	+10.3%	+19.4%	—
Financing Activities net Cash From Financing Activities	—	—	—	—	—
Cash Reconciliation net Change In Cash	—	—	—	—	—
Cash Reconciliation Cash At Beginning of Period	-3.8%	+3.5%	+2.3%	-48.3%	—
Cash Reconciliation Cash At End of Period	-3.8%	+3.5%	+2.3%	-48.3%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+21.0%	+21.3%	+21.8%	+24.7%	+24.2%
Operating margin	+12.3%	+13.1%	+13.8%	+16.8%	+16.1%
Net margin	+8.6%	+9.6%	+9.8%	+12.1%	+10.9%
FCF margin	+8.1%	+6.2%	+10.8%	+7.9%	+6.3%
Growth
Revenue CAGR (3y)	+2.0%	+2.7%	+5.4%	+6.8%	+3.3%
Returns
ROE	+16.8%	+18.3%	+19.1%	+28.1%	+23.3%
ROA	+7.2%	+9.1%	+8.8%	+12.9%	+10.7%
ROIC	+10.4%	+13.5%	+13.0%	+18.4%	+17.2%
Liquidity
Current ratio	3.17x	3.23x	2.57x	2.86x	3.09x
Quick ratio	1.76x	1.83x	1.33x	1.54x	1.91x
Leverage
D/E	0.22x	0.23x	0.32x	0.24x	0.25x
Interest coverage	2214.00x	1573.29x	1343.88x	1578.56x	1241.40x
Efficiency
Asset turnover	0.84x	0.95x	0.90x	1.06x	0.99x
Cash conversion cycle	+91d	+88d	+85d	+77d	+79d

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Packaging Corporation of America

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