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PACKAGING CORP OF AMERICA

CIK: 75677 SIC: 2650
$8.99B
Revenue
$774.00M
Net Income
21.02%
Gross Margin
12.31%
Op. Margin
$1.24B
Free Cash Flow
Financial Statements Annual (10-K)
Showing 10 of 16 annual reports available (2010 - 2025)
Breakdown TTM
(Dec 31, 2025)
FY 2025
(Dec 31, 2025)
FY 2024
(Dec 31, 2024)
FY 2023
(Dec 31, 2023)
FY 2022
(Dec 31, 2022)
FY 2021
(Dec 31, 2021)
FY 2020
(Dec 31, 2020)
FY 2019
(Dec 31, 2019)
FY 2018
(Dec 31, 2018)
FY 2017
(Dec 31, 2017)
FY 2016
(Dec 31, 2016)
+ Total Revenue $8.99B $8.99B $8.38B $7.80B $8.48B $7.73B $6.66B $6.96B $7.01B $6.44B $5.78B
Revenue Growth % 0.0% 7.2% 7.4% -8.0% 9.7% 16.1% -4.4% -0.7% 8.8% 11.5% nan%
Cost of Revenue $7.10B $7.10B $6.60B $6.10B $6.39B $5.86B $5.29B $5.32B $5.37B $4.97B $4.50B
+ Gross Profit $1.89B $1.89B $1.78B $1.70B $2.09B $1.87B $1.37B $1.64B $1.65B $1.47B $1.28B
Gross Margin % 21.0% 21.0% 21.3% 21.8% 24.7% 24.2% 20.6% 23.6% 23.5% 22.8% 22.1%
Selling General & Admin $634.20M $634.20M $610.30M $580.90M $608.60M $576.80M $539.60M $557.60M $536.40M $522.60M $471.10M
+ Operating Income $1.11B $1.11B $1.10B $1.08B $1.42B $1.24B $723.90M $1.05B $1.07B $931.20M $780.30M
Operating Margin % 12.3% 12.3% 13.1% 13.8% 16.8% 16.1% 10.9% 15.1% 15.2% 14.4% 13.5%
Interest Expense - $100.60M $107.70M $84.80M - - - - - - -
Income Before Tax $1.03B $1.03B $1.06B $1.01B $1.36B $1.11B $632.70M $917.00M $970.50M $828.60M $688.50M
Income Tax Expense $253.70M $253.70M $259.30M $248.90M $335.00M $267.60M $171.70M $220.60M $232.50M $160.00M $238.90M
+ Net Income $774.00M $774.10M $805.10M $765.20M $1.03B $841.10M $461.00M $696.40M $738.00M $668.60M $449.60M
Net Margin % 8.6% 8.6% 9.6% 9.8% 12.1% 10.9% 6.9% 10.0% 10.5% 10.4% 7.8%
Basic EPS 8.60 8.61 8.97 8.52 11.08 8.87 4.86 7.36 7.82 7.09 4.76
Diluted EPS 8.57 8.58 8.93 8.48 11.03 8.83 4.84 7.34 7.80 7.07 4.75
Basic Shares Outstanding - 89.3M 89.1M 89.1M - - - - - - -
Diluted Shares Outstanding - 89.6M 89.5M 89.5M - - - - - - -
Breakdown FY 2025
(Dec 31, 2025)
FY 2024
(Dec 31, 2024)
FY 2023
(Dec 31, 2023)
FY 2022
(Dec 31, 2022)
FY 2021
(Dec 31, 2021)
FY 2020
(Dec 31, 2020)
FY 2019
(Dec 31, 2019)
FY 2018
(Dec 31, 2018)
FY 2017
(Dec 31, 2017)
FY 2016
(Dec 31, 2016)
Cash & Cash Equivalents $529.00M $685.00M $648.00M $320.00M $618.70M $974.60M $679.50M $361.50M $216.90M $239.30M
Accounts Receivable $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
Other Current Assets $85.80M $166.90M $62.30M $58.30M $47.00M $44.70M $44.80M $39.40M $35.50M $30.30M
Total Current Assets $3.21B $3.23B $3.25B $2.51B $2.73B $2.75B $2.48B $2.12B $1.92B $1.70B
Property Plant & Equipment $4.99B $4.04B $3.86B $3.90B $3.53B $3.19B $3.15B $3.11B $2.92B $2.90B
Goodwill $1.37B $922.40M $922.40M $922.40M $923.50M $863.50M $918.70M $917.30M $883.20M $737.90M
Intangible Assets $602.30M $191.90M $229.60M $267.90M $308.40M $295.90M $338.80M $378.20M $410.00M $367.10M
Other Non-current Assets $109.10M $104.80M $67.20M $42.00M $44.90M $53.20M $55.80M $50.50M $64.30M $80.00M
Total Assets $10.73B $8.83B $8.68B $8.00B $7.84B $7.43B $7.24B $6.57B $6.20B $5.78B
Accounts Payable $471.40M $430.30M $402.40M $410.40M $452.40M $387.00M $351.90M $382.20M $402.90M $323.80M
Accrued Liabilities $302.10M $362.90M $253.50M $263.70M $255.00M $216.20M $217.50M $222.40M $203.20M $201.20M
Total Current Liabilities $1.02B $1.00B $1.27B $875.50M $884.80M $782.60M $723.80M $693.60M $832.70M $625.40M
Long-term Debt $3.99B $2.49B $2.47B $2.47B $2.47B $2.48B $2.48B $2.48B $2.48B $2.62B
Deferred Tax Liabilities $660.10M $561.90M $558.00M $543.00M $465.90M $379.40M $340.10M - - -
Other Non-current Liabilities $83.30M $80.90M $60.70M $57.40M $58.00M $59.20M $55.00M $59.70M $70.80M $59.60M
Common Stock $900.00K $900.00K $900.00K $900.00K $900.00K $900.00K $900.00K $900.00K $900.00K $900.00K
Retained Earnings $3.93B $3.78B $3.45B $3.19B $3.10B $2.84B $2.70B $2.32B $1.87B $1.45B
Total Stockholders Equity $4.60B $4.40B $4.00B $3.67B $3.61B $3.25B $3.07B $2.67B $2.18B $1.76B
Total Liabilities & Equity $10.73B $8.83B $8.68B $8.00B $7.84B $7.43B $7.24B $6.57B $6.20B $5.78B
Breakdown TTM
(Dec 31, 2025)
FY 2025
(Dec 31, 2025)
FY 2024
(Dec 31, 2024)
FY 2023
(Dec 31, 2023)
FY 2022
(Dec 31, 2022)
FY 2021
(Dec 31, 2021)
FY 2020
(Dec 31, 2020)
FY 2019
(Dec 31, 2019)
FY 2018
(Dec 31, 2018)
FY 2017
(Dec 31, 2017)
FY 2016
(Dec 31, 2016)
Net Income $977.80M $774.10M $805.10M $765.20M $1.03B $841.10M $461.00M $696.40M $738.00M $668.60M $449.60M
Depreciation & Amortization - $652.80M $525.60M $517.70M - - - - - - -
Stock-based Compensation $91.10M $45.20M $48.80M $40.00M $35.60M $35.50M $30.00M $30.40M $23.50M $20.60M $19.70M
Deferred Income Tax $108.90M $97.30M $-4.20M $5.20M $86.00M $59.40M $34.70M $60.30M $38.70M $-84.50M $-4.00M
Change in Receivables $81.50M $10.30M $110.70M $1.40M $-39.30M $227.20M $-13.20M $-56.40M $56.10M $115.10M $3.60M
Change in Inventory $31.00M $-4.40M $111.80M $35.80M $75.20M $105.50M $-6.30M $-1.40M $35.60M $21.00M $25.70M
Change in Payables $13.70M $-42.50M $18.30M $11.40M $-18.10M $12.20M $39.70M $-32.40M $-17.60M $41.00M $16.60M
Operating Cash Flow $2.54B $1.56B $1.19B $1.32B $1.50B $1.09B $1.03B $1.21B $1.18B $856.10M $801.20M
Capital Expenditure $1.29B $828.90M $669.70M $469.70M $824.20M $605.10M $421.20M $399.50M $551.40M $343.00M $274.30M
Acquisitions - $1.80B - - - $194.90M - - $56.30M $273.80M $485.40M
Purchases of Investments $217.10M $113.50M $114.30M $107.20M $126.10M $127.40M $110.10M $157.00M - - -
Sales of Investments $188.50M $101.70M $98.20M $97.30M $87.60M $100.20M $82.80M - - - -
Investing Cash Flow $-3.00B $-2.57B $-277.80M $-875.10M $-833.70M $-794.40M $-426.10M $-546.60M $-608.20M $-609.10M $-769.60M
Stock Repurchased - $153.00M - $41.50M $522.60M $193.00M - - - - $100.30M
Dividends Paid $786.60M $449.60M $448.80M $448.90M $420.30M $379.80M $299.60M $298.70M $268.10M $237.60M $216.10M
Financing Cash Flow $482.40M $859.40M $-876.40M $-112.00M $-960.00M $-655.60M $-311.60M $-342.80M $-427.30M $-269.40M $23.50M
Net Change in Cash $13.60M $-156.00M $37.00M $328.00M $-298.70M $-355.90M $295.10M $318.00M $144.60M $-22.40M $55.10M
SEC Filing Format - Data shown as it appears in the Q3 2025 (10-Q) filing Period ended: Sep 30, 2025
Condensed Consolidated Statements of Operations
Description Sep 30, 2025 Sep 30, 2025
Current Prior Year Current YTD Prior Year YTD
Total Revenue $2.31B $2.18B $6.63B $6.24B
Cost of Revenue $1.81B $1.68B $5.18B $4.92B
Gross Profit $504.30M $505.20M $1.44B $1.31B
Selling General & Admin $154.30M $162.00M $468.90M $463.30M
Operating Income $324.50M $327.10M $938.50M $799.10M
Income Before Tax $305.20M $318.60M $893.30M $772.80M
Income Tax Expense $78.30M $80.50M $221.00M $188.80M
Net Income $226.90M $238.10M $672.30M $584.00M
Basic EPS 2.52 2.65 7.48 6.51
Diluted EPS 2.51 2.64 7.45 6.48
Condensed Consolidated Balance Sheets
Description Sep 30, 2025 Dec 31, 2024
Cash & Cash Equivalents $634.00M $685.00M
Accounts Receivable $1.35B $1.14B
Inventory $1.28B $1.12B
Other Current Assets $81.10M $166.90M
Total Current Assets $3.50B $3.23B
Property Plant & Equipment $5.04B $4.04B
Goodwill $1.20B $922.40M
Intangible Assets $690.60M $191.90M
Other Non-current Assets $102.20M $104.80M
Total Assets $10.98B $8.83B
Accounts Payable $554.20M $430.30M
Accrued Liabilities $298.40M $362.90M
Total Current Liabilities $1.11B $1.00B
Long-term Debt $3.97B $2.47B
Deferred Tax Liabilities $671.80M $561.90M
Other Non-current Liabilities $84.60M $80.90M
Common Stock $900.00K $900.00K
Retained Earnings $4.09B $3.78B
Total Stockholders Equity $4.76B $4.40B
Total Liabilities & Equity $10.98B $8.83B
Condensed Consolidated Statements of Cash Flows
Description Sep 30, 2025 Sep 30, 2025
Current Prior Year Current YTD Prior Year YTD
Net Income $226.90M $238.10M $672.30M $584.00M
Stock-based Compensation - - $36.60M $39.60M
Deferred Income Tax - - $109.40M $-18.00M
Change in Receivables - - $110.60M $182.80M
Change in Inventory - - $28.10M $48.80M
Change in Payables - - $12.00M $36.10M
Operating Cash Flow - - $1.11B $865.80M
Capital Expenditure - - $509.90M $468.40M
Acquisitions - - $1.80B -
Purchases of Investments - - $99.30M $91.90M
Sales of Investments - - $75.70M $83.10M
Investing Cash Flow - - $-2.29B $-74.50M
Dividends Paid - - $337.10M $336.50M
Financing Cash Flow - - $1.13B $-762.70M
Net Change in Cash - - $-51.00M $28.60M

All values are in USD (United States Dollars). Data is sourced from SEC EDGAR 10-K filings.

Annual data represents full fiscal year results. FY = Fiscal Year ending.

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