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PKG

Packaging Corporation of America

PKG

Packaging Corporation of America • NYSE
$204.07 ▲ 0.29% (+0.58)
Market Cap $18.36 B
52w High $248.61
52w Low $172.72
Dividend Yield 5.00%
P/E 20.61
Volume 287.15K
Outstanding Shares 89.98M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.313B ▲ $179.8M ▲ $226.9M ▼ 9.808% ▼ $2.52 ▼ $477.1M ▲
Q2-2025 $2.171B ▲ $149.3M ▼ $241.5M ▲ 11.122% ▲ $2.68 ▲ $474.3M ▲
Q1-2025 $2.141B ▼ $174.4M ▲ $203.8M ▼ 9.519% ▼ $2.27 ▼ $418.3M ▼
Q4-2024 $2.146B ▼ $167.5M ▼ $221.1M ▼ 10.302% ▼ $2.46 ▼ $439.3M ▼
Q3-2024 $2.182B $178.1M $238.1M 10.91% $2.65 $461M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $728.7M ▼ $10.98B ▲ $6.224B ▲ $4.755B ▲
Q2-2025 $880.3M ▲ $9.041B ▲ $4.409B ▼ $4.632B ▲
Q1-2025 $843.1M ▲ $8.97B ▲ $4.471B ▲ $4.499B ▲
Q4-2024 $787M ▲ $8.833B ▲ $4.429B ▼ $4.404B ▲
Q3-2024 $771.6M $8.754B $4.49B $4.264B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $227M ▼ $472.2M ▲ $-2B ▼ $1.374B ▲ $-153.9M ▼ $280.1M ▲
Q2-2025 $241.5M ▲ $299.6M ▼ $-142.8M ▲ $-120.6M ▲ $36.2M ▼ $129.9M ▼
Q1-2025 $203.8M ▼ $339.1M ▲ $-144.2M ▲ $-128.2M ▼ $66.7M ▲ $191M ▲
Q4-2024 $219.6M ▼ $325.4M ▼ $-203.3M ▼ $-113.7M ▲ $8.4M ▼ $124.1M ▼
Q3-2024 $238.1M $327.1M $249.3M $-513.4M $63M $180.4M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Corporate Segment and Other Operating Segment
Corporate Segment and Other Operating Segment
 $70.00M ▲$20.00M ▼$20.00M ▲$20.00M ▲
Packaging
Packaging
 $5.68Bn ▲$1.97Bn ▼$2.01Bn ▲$2.13Bn ▲
Paper
Paper
 $470.00M ▲$150.00M ▼$150.00M ▲$160.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Sales have trended upward over the last several years, showing that the business continues to grow despite the normal ups and downs of a cyclical packaging market. Profitability has been solid, with healthy margins that held up reasonably well even when conditions softened. Earnings were strongest a couple of years ago and have since stepped back from peak levels, but they remain robust in an absolute sense. Overall, the income statement reflects a mature, well-run industrial company that generates steady profits rather than rapid, high-risk growth.

Balance Sheet

Balance Sheet The balance sheet looks generally conservative and stable. Total assets have grown gradually, supported by steady reinvestment in the business. Debt levels are meaningful but do not appear excessive relative to the size of the company and its earnings power, and equity has climbed over time as profits have been retained. Cash on hand is moderate, suggesting a balance between maintaining flexibility and not letting idle funds accumulate. In short, the financial foundation appears solid, with no obvious signs of stress.

Cash Flow

Cash Flow The company consistently produces healthy cash flow from its core operations, which is key in a cyclical industry. It spends a meaningful amount on capital projects, indicating ongoing investment in mills, equipment, and efficiency improvements. Even after these investments, free cash flow has stayed positive each year, though it moves around depending on the timing of big projects. This pattern points to a business that can both fund its own growth and still generate excess cash, giving management options for dividends, debt management, or future strategic moves.

Competitive Edge

Competitive Edge Packaging Corporation of America holds a strong position as one of the leading containerboard and corrugated packaging producers in North America. Its vertical integration—from mills to converting plants—gives it cost advantages and supply security that smaller rivals struggle to match. The company’s focus on serving small and mid-sized customers with tailored solutions creates sticky relationships and helps avoid head‑to‑head commodity competition with the very largest players. A wide manufacturing footprint and emphasis on reliability, service, and sustainability further reinforce its competitive moat. Overall, its position looks defensible, though still influenced by broader economic and box demand cycles.

Innovation and R&D

Innovation and R&D Innovation here is practical and operations-focused rather than flashy. The company uses advanced equipment and increasingly relies on data and AI tools to improve forecasting, production planning, and logistics, which can lower costs and reduce waste. Its network of design and testing centers helps customers quickly move from concept to finished packaging, offering a speed and customization advantage. The dedicated research and innovation center is heavily focused on lighter, stronger, and more sustainable fiber-based packaging, and the firm is exploring areas like smarter packaging and advanced protective solutions. These efforts suggest a steady push to differentiate beyond plain brown boxes and to stay aligned with e‑commerce and sustainability trends.

Summary

Overall, Packaging Corporation of America looks like a disciplined, cash-generative industrial business with a durable position in a necessary, though cyclical, market. Revenues and profits have grown over time, supported by a strong operational backbone and continual reinvestment. The balance sheet appears sound, with manageable leverage and growing equity, and cash flows are strong enough to fund both capital spending and shareholder returns. Its competitive edge stems from vertical integration, scale, customer-centric service, and sustainability credentials, while innovation focuses on efficiency and better, greener packaging solutions. Key sensitivities to keep in mind are exposure to economic cycles, input costs, and environmental regulations, but the overall profile is that of a resilient, well-established packaging company rather than a high-volatility story.

NEWS

October 22, 2025 · 5:09 PM UTC

Packaging Corporation of America Reports Third Quarter 2025 Results

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September 15, 2025 · 4:40 PM UTC

Packaging Corporation of America Schedules Conference Call to Discuss Third Quarter 2025 Operating Results

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