Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.78B | $6.44B | $7.01B | $6.96B | $6.66B | $7.73B | $8.48B | $7.80B | $8.38B | $8.99B |
| Revenue growth | — | 11.5% | 8.8% | -0.7% | -4.4% | 16.1% | 9.7% | -8.0% | 7.4% | 7.2% |
| Gross profit | $1.28B | $1.47B | $1.65B | $1.64B | $1.37B | $1.87B | $2.09B | $1.70B | $1.78B | $1.89B |
| Gross margin | 22.1% | 22.8% | 23.5% | 23.6% | 20.6% | 24.2% | 24.7% | 21.8% | 21.3% | 21.0% |
| Operating income | $783M | $933M | $1.07B | $1.05B | $724M | $1.24B | $1.42B | $1.08B | $1.10B | $1.11B |
| Operating margin | 13.6% | 14.5% | 15.2% | 15.1% | 10.9% | 16.1% | 16.8% | 13.8% | 13.1% | 12.3% |
| Net income | $450M | $669M | $738M | $696M | $461M | $841M | $1.03B | $765M | $805M | $774M |
| Net margin | 7.8% | 10.4% | 10.5% | 10.0% | 6.9% | 10.9% | 12.1% | 9.8% | 9.6% | 8.6% |
| EPS (diluted) | $4.75 | $7.07 | $7.80 | $7.34 | $4.84 | $8.83 | $11.03 | $8.48 | $8.93 | $8.58 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $807M | $856M | $1.18B | $1.21B | $1.03B | $1.09B | $1.50B | $1.32B | $1.19B | $1.56B |
| Capital expenditures | $274M | $343M | $551M | $400M | $421M | $605M | $824M | $470M | $670M | $829M |
| Free cash flow | $533M | $513M | $629M | $808M | $612M | $489M | $671M | $845M | $522M | $729M |
| Share buybacks | $100M | — | — | $0.00 | $0.00 | $193M | $523M | $41.5M | $0.00 | $153M |
| Dividends paid | $216M | $238M | $268M | $299M | $300M | $380M | $420M | $449M | $449M | $112M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $239M | $217M | $362M | $680M | $975M | $619M | $320M | $648M | $685M | $529M |
| Total assets | $5.78B | $6.20B | $6.57B | $7.24B | $7.43B | $7.84B | $8.00B | $8.68B | $8.83B | $10.7B |
| Long-term debt | $2.62B | $2.48B | $2.48B | $2.48B | $2.48B | $2.47B | $2.47B | $2.47B | $2.47B | $3.97B |
| Shareholders' equity | $1.76B | $2.18B | $2.67B | $3.07B | $3.25B | $3.61B | $3.67B | $4.00B | $4.40B | $4.60B |
| Retained earnings | $1.45B | $1.87B | $2.32B | $2.70B | $2.84B | $3.10B | $3.19B | $3.45B | $3.78B | $3.93B |
| Shares (wtd avg diluted) | 93.7M | 93.7M | 93.9M | 94.1M | 94.4M | 94.5M | 92.7M | 89.5M | 89.5M | 89.6M |
Every figure is extracted from PACKAGING CORP OF AMERICA’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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