15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 6.2% per year over the past 5 years.
Net income has grown faster than revenue (10.9% vs 6.2% per year).
Operating margin has expanded, at 12.3% in the latest year.
Free cash flow has grown 3.6% per year over the past 5 years.
Financial health
Total debt ($4.0B) exceeds cash ($529M); net debt is $3.5B.
Total debt has grown faster than revenue (9.9% vs 6.2% per year).
Total debt is 2.3× EBITDA.
Shareholder returns
Dividends have been paid for 15 consecutive years, consuming 58.1% of earnings and 61.7% of free cash flow.
The dividend has grown 8.5% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2025
$9.0B
$774M
21.0%
12.3%
16.8%
7.2%
$729M
$4.0B
$529M
2024
$8.4B
$805M
21.3%
13.1%
18.3%
9.1%
$522M
$2.5B
$685M
2023
$7.8B
$765M
21.8%
13.8%
19.1%
8.8%
$845M
$2.9B
$648M
2022
$8.5B
$1.0B
24.7%
16.8%
28.1%
12.9%
$671M
$2.5B
$320M
2021
$7.7B
$841M
24.2%
16.1%
23.3%
10.7%
$489M
$2.5B
$619M
2020
$6.7B
$461M
20.6%
10.9%
14.2%
6.2%
$612M
$2.5B
$975M
2019
$7.0B
$696M
23.6%
15.1%
22.7%
9.6%
$808M
$2.5B
$680M
2018
$7.0B
$738M
23.5%
15.2%
27.6%
11.2%
$629M
$2.5B
$362M
2017
$6.4B
$669M
22.8%
14.5%
30.6%
10.8%
$513M
$2.6B
$217M
2016
$5.8B
$450M
22.1%
13.6%
25.5%
7.8%
$533M
$2.7B
$239M
2015
—
$437M
—
—
26.7%
8.3%
$454M
$2.3B
$184M
2014
—
$393M
—
—
25.8%
7.5%
$316M
$2.4B
$125M
2013
—
$441M
—
—
32.5%
8.5%
$374M
$2.5B
$191M
2012
—
$160M
—
—
15.9%
6.4%
$276M
$794M
$207M
2011
—
$159M
—
—
16.3%
6.5%
$65M
$808M
$156M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Mar '26
$2.4B
$171M
19.1%
10.6%
3.7%
1.6%
$165M
$4.0B
$397M
Dec '25
$2.4B
$102M
18.9%
7.1%
2.2%
0.9%
$128M
$4.0B
$529M
Sep '25
$2.3B
$227M
21.8%
14.0%
4.8%
2.1%
$280M
$4.0B
$634M
Jun '25
$2.2B
$242M
22.2%
15.4%
5.2%
2.7%
$130M
$2.5B
$788M
Mar '25
$2.1B
$204M
21.2%
13.1%
4.5%
2.3%
$191M
$2.5B
$752M
Dec '24
$2.1B
$221M
21.9%
14.1%
5.0%
2.5%
$124M
$2.5B
$685M
Sep '24
$2.2B
$238M
23.1%
15.0%
5.6%
2.7%
$180M
$2.5B
$677M
Jun '24
$2.1B
$199M
21.1%
13.3%
4.8%
2.2%
$33M
$2.9B
$614M
Mar '24
$2.0B
$147M
18.7%
9.9%
3.6%
1.7%
$184M
$2.9B
$692M
Dec '23
$1.9B
$189M
21.2%
13.5%
4.7%
2.2%
$194M
$2.9B
$648M
Sep '23
$1.9B
$183M
21.3%
13.4%
4.7%
2.2%
$250M
$2.5B
$573M
Jun '23
$2.0B
$203M
22.8%
14.6%
5.3%
2.5%
$234M
$2.5B
$477M
Mar '23
$2.0B
$190M
21.8%
13.7%
5.1%
2.4%
$168M
$2.5B
$368M
Dec '22
$2.0B
$212M
22.8%
14.6%
5.8%
2.6%
$173M
$2.5B
$320M
Sep '22
$2.1B
$263M
24.4%
16.9%
6.6%
3.1%
$251M
$2.5B
$649M
Jun '22
$2.2B
$302M
26.3%
18.6%
7.6%
3.6%
$135M
$2.5B
$667M
Mar '22
$2.1B
$254M
25.0%
16.7%
6.7%
3.1%
$112M
$2.5B
$629M
Dec '21
$2.0B
$217M
25.0%
17.4%
6.0%
2.8%
$152M
$2.5B
$619M
Sep '21
$2.0B
$251M
25.5%
17.6%
6.9%
2.9%
$134M
$3.2B
$1.7B
Jun '21
$1.9B
$207M
23.9%
15.7%
6.0%
2.7%
$97M
$2.5B
$972M
Valuation over time
How the market has priced PKG against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has risen from 12.0× (Mar '23) to 29.8× (Nov '26).
The price-to-sales ratio has risen from 1.5× (Mar '23) to 2.6× (Nov '26).
The dividend yield has fallen from 3.4% (Mar '23) to 2.0% (Nov '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is PKG growing its revenue and profit?
Over the past 5 years, Packaging Corporation of America's revenue has grown 6.2% per year, and net income grown 10.9% per year. These are computed facts, not advice.
How much debt does PKG have?
As of FY2025, Packaging Corporation of America reported $4.0B of total debt against $529M of cash.
What is PKG's profit margin?
In FY2025, gross margin was 21.0%, operating margin 12.3%, and net margin 8.6%.
What is PKG's P/E ratio?
Packaging Corporation of America's P/E (TTM) is 33.33 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the PKG stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 29.8× as of Nov '26) can differ. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.