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NYSE · Materials

PACKAGING CORP OF AMERICA (PKG)

As-reported financials and SEC filings for PACKAGING CORP OF AMERICA. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About PACKAGING CORP OF AMERICA

Packaging Corporation of America produces containerboard and corrugated packaging products, including shipping containers, multi-color boxes, and protective packaging. The company operates ten mills and 91 corrugated product plants across the United States, serving approximately 12,000 customers in various industries such as food, retail, and manufacturing. Its products are made from renewable raw materials and are recyclable.

Snapshot

Revenue
$8.99B
Revenue growth (YoY)
7.2%
Net income
$774.1M
Diluted EPS
$8.58
Gross margin
21.0%
Operating margin
12.3%
Net margin
8.6%
FCF margin
8.1%
ROE
16.8%
net income / fiscal-year-end equity
P/E
30.1×
trailing when available, otherwise FY EPS
Market cap
$20.67B
Long-term debt / equity
0.86×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Packaging Corp of America

  • Revenue grew 7.2% to $9.0B in FY2025, in line with the 7.4% the year before.
  • Operating margin is 12.3% in FY2025, -3.7 pp against 16.1% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $2.5B, up 14.7% from Q2 FY2025.
  • Free cash flow was $729M in FY2025, 8.1% of revenue.
  • Net income fell 3.9% to $774M in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Packaging Corp of America’s fundamentals sit among the 241 Materials companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin21.0%
34th percentile of 191
Operating margin12.3%
77th percentile of 189
Net margin8.6%
76th percentile of 221
FCF margin8.1%
69th percentile of 205
Revenue growth (YoY)+7.2%
65th percentile of 236
ROE16.8%
81st percentile of 216
P/E30.1×
68th percentile of 134
Long-term debt / equity0.86×
65th percentile of 165
Short interest6.08d
78th percentile of 238

No reported insider purchases (code P) in the last 90 days; 4 insider sales totaling $10.2M. For context, about 14% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 1 of the superinvestors we track (plus 5 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
1
+5 quant / multi-strat
Initiated / added
3
1 new, 2 added
Reduced / exited
4
3 trimmed, 1 exited
Combined position
$595.2M
reported long value
InvestorAs ofPosition valueSharesChange
Millennium ManagementquantQ2 2026$403.3M1.7MAdded
AQR Capital ManagementquantQ2 2026$87.6M369.6KReduced
Citadel AdvisorsquantQ2 2026$50.8M213.3KReduced
Gotham Asset ManagementQ2 2026$34.5M144.9KAdded
Two Sigma InvestmentsquantQ2 2026$17.0M71.5KReduced
Point72 Asset ManagementquantQ2 2026$1.9M7.9KNew

No longer held by: Renaissance Technologies (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
4
$10.2M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-08-20
filed 2026-08-24
Shirley Donald R.Exec. VPSell12.0K$250.71$3.0M
2026-08-07
filed 2026-08-11
Hassfurther Thomas APresidentSell7.1K$254.00$1.8M
2026-08-05
Hassfurther Thomas APresidentSell8.8K$257.00$2.3M
2026-08-03
filed 2026-08-05
Hassfurther Thomas APresidentSell12.5K$250.00$3.1M
2026-05-27
filed 2026-05-28
KOWLZAN MARK WChairman & CEOSell9.3K$217.08$2.0M

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
2.9M
settled 2026-08-14
Change vs prior
-10.5%
vs previous settlement
Days to cover
6.08
at avg daily volume
Avg daily volume
482.7K
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-142.9M-10.5%6.08
2026-07-313.3M-8.2%3.70
2026-07-153.6M+0.9%6.54
2026-06-303.5M-12.2%5.50
2026-06-154.0M+3.8%6.19
2026-05-293.9M-3.4%5.06
2026-05-154.0M+3.5%6.21
2026-04-303.9M+14.2%3.70

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$8.99B$8.38B$7.80B$8.48B$7.73B
Gross profit$1.89B$1.78B$1.70B$2.09B$1.87B
Operating income$1.11B$1.10B$1.08B$1.42B$1.24B
Net income$774.1M$805.1M$765.2M$1.03B$841.1M
Diluted EPS$8.58$8.93$8.48$11.03$8.83

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$529.0M$685.0M$648.0M$320.0M$618.7M
Current assets$3.21B$3.23B$3.25B$2.51B$2.73B
Total assets$10.73B$8.83B$8.68B$8.00B$7.84B
Current liabilities$1.02B$1.00B$1.27B$875.5M$884.8M
Long-term debt$3.97B$2.47B$2.47B$2.47B$2.47B
Total liabilities$6.13B$4.43B$4.68B$4.34B$4.23B
Total equity$4.60B$4.40B$4.00B$3.67B$3.61B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$1.56B$1.19B$1.32B$1.50B$1.09B
Capital expenditure$828.9M$669.7M$469.7M$824.2M$605.1M
Free cash flow$728.6M$521.5M$845.4M$670.8M$489.0M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$2.49B14.7%$192.1M$2.15
Q1 FY2026$2.37B10.6%$170.9M$1.91
Q4 FY2025$2.36B10.1%$101.8M$1.14
Q3 FY2025$2.31B6.0%$226.9M$2.51
Q2 FY2025$2.17B4.6%$241.5M$2.67
Q1 FY2025$2.14B8.2%$203.8M$2.26
Q4 FY2024$2.15B10.7%$221.1M$2.47
Q3 FY2024$2.18B12.7%$238.1M$2.64

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorMaterials
SIC industryPaperboard Containers & Boxes
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2012
SEC CIK75677

Selected SEC filings

10-K2026-02-26
View on EDGAR →
10-K2025-02-27
View on EDGAR →
10-Q2026-08-07
View on EDGAR →
10-Q2026-05-08
View on EDGAR →
10-Q2025-11-06
View on EDGAR →
10-Q2025-08-07
View on EDGAR →
8-K2026-07-23
View on EDGAR →
8-K2026-05-13
View on EDGAR →

Largest Materials peers

All Materials companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.