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
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
FCF
Total debt
Cash
2025
$9.0B
$774M
21.0%
12.3%
$729M
$4.0B
$529M
2024
$8.4B
$805M
21.3%
13.1%
$522M
$2.5B
$685M
2023
$7.8B
$765M
21.8%
13.8%
$845M
$2.9B
$648M
2022
$8.5B
$1.0B
24.7%
16.8%
$671M
$2.5B
$320M
2021
$7.7B
$841M
24.2%
16.1%
$489M
$2.5B
$619M
2020
$6.7B
$461M
20.6%
10.9%
$612M
$2.5B
$975M
2019
$7.0B
$696M
23.6%
15.1%
$808M
$2.5B
$680M
2018
$7.0B
$738M
23.5%
15.2%
$629M
$2.5B
$362M
2017
$6.4B
$669M
22.8%
14.5%
$513M
$2.6B
$217M
2016
$5.8B
$450M
22.1%
13.6%
$533M
$2.7B
$239M
2015
—
$437M
—
—
$454M
$2.3B
$184M
2014
—
$393M
—
—
$316M
$2.4B
$125M
2013
—
$441M
—
—
$374M
$2.5B
$191M
2012
—
$160M
—
—
$276M
$794M
$207M
2011
—
$159M
—
—
$65M
$808M
$156M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
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
FCF
Total debt
Cash
Mar '26
$2.4B
$171M
19.1%
10.6%
$165M
$4.0B
$397M
Dec '25
$2.4B
$102M
18.9%
7.1%
$128M
$4.0B
$529M
Sep '25
$2.3B
$227M
21.8%
14.0%
$280M
$4.0B
$634M
Jun '25
$2.2B
$242M
22.2%
15.4%
$130M
$2.5B
$788M
Mar '25
$2.1B
$204M
21.2%
13.1%
$191M
$2.5B
$752M
Dec '24
$2.1B
$221M
21.9%
14.1%
$124M
$2.5B
$685M
Sep '24
$2.2B
$238M
23.1%
15.0%
$180M
$2.5B
$677M
Jun '24
$2.1B
$199M
21.1%
13.3%
$33M
$2.9B
$614M
Mar '24
$2.0B
$147M
18.7%
9.9%
$184M
$2.9B
$692M
Dec '23
$1.9B
$189M
21.2%
13.5%
$194M
$2.9B
$648M
Sep '23
$1.9B
$183M
21.3%
13.4%
$250M
$2.5B
$573M
Jun '23
$2.0B
$203M
22.8%
14.6%
$234M
$2.5B
$477M
Mar '23
$2.0B
$190M
21.8%
13.7%
$168M
$2.5B
$368M
Dec '22
$2.0B
$212M
22.8%
14.6%
$173M
$2.5B
$320M
Sep '22
$2.1B
$263M
24.4%
16.9%
$251M
$2.5B
$649M
Jun '22
$2.2B
$302M
26.3%
18.6%
$135M
$2.5B
$667M
Mar '22
$2.1B
$254M
25.0%
16.7%
$112M
$2.5B
$629M
Dec '21
$2.0B
$217M
25.0%
17.4%
$152M
$2.5B
$619M
Sep '21
$2.0B
$251M
25.5%
17.6%
$134M
$3.2B
$1.7B
Jun '21
$1.9B
$207M
23.9%
15.7%
$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 27.7× (Jun '26).
The price-to-sales ratio has risen from 1.5× (Mar '23) to 2.4× (Jun '26).
The dividend yield has fallen from 3.4% (Mar '23) to 2.1% (Jun '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?
As of Jun '26, Packaging Corporation of America traded at a price-to-earnings ratio of about 27.7× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. 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), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.