PKG on NYSE

Packaging Corporation of America

Logo: Packaging Corporation of America, Public domain, via Wikimedia Commons6

Packaging and Logistics Firm

Packaging Corporation of America is an American manufacturing company based in Lake Forest, Illinois. The company has about 15,500 employees, with operations primarily in the United States.3 From Wikipedia, CC BY-SA 4.0

$236.08 up 3.50 (1.50%)Price as of Oct 16, 2026 at 19:58 UTC

Last updated Oct 19, 2026.

Overview

1959Founded1

Compare with Graphic Packaging, Sonoco or Smurfit Westrock Group, or pick any stock.

  • TickerPKG on NYSE1
  • Industrypaper mill1
  • HeadquartersLake Forest1
  • Websitewww.packagingcorp.com
  • Legal formDelaware corporation1
  • Business address1 North Field Ct, Lake Forest, Il 600457
  • Filer categoryLarge accelerated filer7
  • LEI549300XZP8MFZFY8TJ844
  • StatusActive4
  • LEI statusLapsed (not renewed)4
  • Registered addressC/O The Corporation Trust Company, 19801 Wilmington, United States4
  • Registered withDivision of Corporations, Department of State, 29967414

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Packaging Corporation of America is an American manufacturing company based in Lake Forest, Illinois. The company has about 15,500 employees, with operations primarily in the United States. The CEO is Mark W. Kowlzan.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

21.0%Gross margin9
12.3%Operating margin9
8.6%Net margin9
7.2%Revenue growth, 20259
16.8%Return on equity9
0.86×Debt to equity9
$728.6MFree cash flow9

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Trade brought in 98% of the revenue Packaging Corporation of America broke down this way in fiscal 2025.

  1. Trade$9.0B998%up 7% from 2024
  2. Intersegment$154.1M92%down 14% from 2024
Products and services by year
Products and services202320242025
Trade$7.8B$8.4B$9.0B
Intersegment$176.5M$179.4M$154.1M

Business segments

Packaging brought in 92% of the revenue Packaging Corporation of America broke down this way in fiscal 2025.

  1. Packaging$8.3B992%up 8% from 2024
  2. Paper$615.4M97%down 1% from 2024
  3. Corporate Segment and Other Operating$80.0M91%up 18% from 2024
Business segments by year
Business segments202320242025
Packaging$7.1B$7.7B$8.3B
Paper$595.4M$624.7M$615.4M
Corporate Segment and Other Operating$71.4M$67.7M$80.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue79¢$7.1B
  • Selling, general and admin7¢$634.2M
  • Other costs3¢$227.6M
  • Income tax3¢$253.7M
  • Profit9¢$774.1M

Out of $9.0B in revenue.9

Where each dollar of operating cash went, fiscal 2025

  • Capital spending53¢$828.9M
  • Dividends paid29¢$449.6M
  • Share buybacks10¢$153.0M
  • Kept or used elsewhere8¢$126.0M

Out of $1.6B of cash from operations.9

Financial statements

Revenue101112139$9.0B in 2025+29% since 2019
0$2.5B$5.0B$7.5B$10.0B2019: $7.0B$7.0B20192020: $6.7B$6.7B2020−4%2021: $7.7B$7.7B2021+16%2022: $8.5B$8.5B2022+10%2023: $7.8B$7.8B2023−8%2024: $8.4B$8.4B2024+7%2025: $9.0B$9.0B2025+7%
Gross profit101112139$1.9B in 2025+15% since 2019
0$1.0B$2.0B$3.0B2019: $1.6B$1.6B20192020: $1.4B$1.4B2020−17%2021: $1.9B$1.9B2021+37%2022: $2.1B$2.1B2022+12%2023: $1.7B$1.7B2023−19%2024: $1.8B$1.8B2024+5%2025: $1.9B$1.9B2025+6%
Operating income101112139$1.1B in 2025+5% since 2019
0$500.0M$1.0B$1.5B2019: $1.1B$1.1B20192020: $723.9M$723.9M2020−31%2021: $1.2B$1.2B2021+71%2022: $1.4B$1.4B2022+14%2023: $1.1B$1.1B2023−24%2024: $1.1B$1.1B2024+2%2025: $1.1B$1.1B2025+1%
Net income101112139$774.1M in 2025+11% since 2019
0$500.0M$1.0B$1.5B2019: $696.4M$696.4M20192020: $461.0M$461.0M2020−34%2021: $841.1M$841.1M2021+82%2022: $1.0B$1.0B2022+22%2023: $765.2M$765.2M2023−26%2024: $805.1M$805.1M2024+5%2025: $774.1M$774.1M2025−4%

Every line of the income statement as filed: the last 3 fiscal years, latest first.9

Period ending2025-12-312024-12-312023-12-31
Net sales$9.0B$8.4B$7.8B
Cost of sales-$7.1B-$6.6B-$6.1B
Gross profit$1.9B$1.8B$1.7B
Selling and administrative expenses-$634.2M-$610.3M-$580.9M
Other expense, net$148.4M$71.5M$42.9M
Income from operations$1.1B$1.1B$1.1B
Non-operating pension (expense) income-$100.0K$4.5M-$7.7M
Interest expense, net-$79.1M-$41.4M-$53.3M
Income before taxes$1.0B$1.1B$1.0B
Provision for income taxes-$253.7M-$259.3M-$248.9M
Net income$774.1M$805.1M$765.2M
Basic$8.61$8.97$8.52
Diluted$8.58$8.93$8.48
Dividends declared per common share$5.00$5.00$5.00
Foreign currency translation adjustment$0$0$100.0K
Changes in unrealized gains on marketable debt securities, net of tax of $0.0 million, ($0.1) million, and ($0.6) millionfor 2025, 2024, and 2023, respectively$100.0K$300.0K$1.8M
Amortization of pension and postretirement plans actuarial loss and prior service cost, net of tax of ($1.3) million, ($1.4) million, and ($2.1) million for 2025, 2024, and 2023, respectively$3.8M$4.1M$6.4M
Changes in unfunded employee benefit obligations, net of tax of $0.7 million, ($7.6) million, and ($7.8) million for 2025, 2024, and 2023, respectively-$2.1M$23.1M$23.2M
Other comprehensive income$1.8M$27.5M$31.5M
Comprehensive income$775.9M$832.6M$796.7M
Changes in unrealized gains (losses) on marketable debt securities, tax$0-$100.0K-$600.0K
Amortization of pension and postretirement plans actuarial loss and prior service cost, tax-$1.3M-$1.4M-$2.1M
Changes in unfunded employee benefit obligations, tax$700.0K-$7.6M-$7.8M

Compare Packaging Corporation of America with another company

The story

The company was founded in 1959 by the consolidation of three companies and was eventually acquired by Tenneco in 1965. In November 1995, the company's name was changed to Tenneco Packaging Inc.; in 1999, a new entity re-established the name Packaging Corporation of America

In 2009, the company opened a new design center and project-management facility in Hong Kong, operating under the name Packaging Corporation of Asia Limited.

The company has acquired many companies, including Boise Inc. in 2013, TimBar Corporation and Columbus Container, Inc. in 2016, Sacramento Container Corporation in 2017, and Englander Container and Display in 2018.

The company's network consists of 6 containerboard mills, 2 white paper mills, 95 converting facilities, 10 creative design centers, 3 fulfillment centers, 8 packaging and supply centers, 2 training and resource centers, and 1 technical center.

From Wikipedia’s article on Packaging Corporation of America, shared under CC BY-SA 4.0.8

Leadership

Who has led Packaging Corporation of America, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Paul T. Stecko2004–2010
  2. Richard B. West2006
  3. Mark W. Kowlzan2010–now

Chair

  1. Paul T. Stecko2003–2013
  2. Mark W. Kowlzan2016–now

President

  1. Thomas A. Hassfurther2025–now

Chief financial officer

  1. Richard B. West2003–2015
  2. Robert P. Mundy2019–2026
  3. Kent A. Pflederer2026–now
197019801990200020102020
Board members and other officers (35)

Products and brands

  • containerboard

Listed on Wikidata.1

Timeline

  1. Jun 30, 2010New chief executive Mark W. Kowlzan becomes CEO17
  2. Jun 22, 2006New chief executive Richard B. West becomes CEO18
  3. Jul 2, 2004New chief executive Paul T. Stecko becomes CEO19
  4. Jan 28, 2000Went public Listed on NYSE1
  5. 1959Founded Founded1

Filings

373 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 37 major events, 238 insider forms, 17 large holders, 61 other. The latest 20:

  1. Aug 24, 20264 EDGAR
  2. Aug 20, 2026144 EDGAR
  3. Aug 11, 20264 EDGAR
  4. Aug 7, 202610-Q EDGAR
  5. Aug 7, 2026SCHEDULE 13G EDGAR
  6. Aug 5, 20264 EDGAR
  7. Jul 28, 2026144 EDGAR
  8. Jul 23, 20268-K EDGAR
  9. May 28, 20264 EDGAR
  10. May 28, 202611-K EDGAR
  11. May 28, 202611-K EDGAR
  12. May 27, 2026144 EDGAR
  13. May 15, 2026SCHEDULE 13G EDGAR
  14. May 13, 20268-K EDGAR
  15. May 13, 20264 EDGAR
  16. May 12, 20264 EDGAR
  17. May 12, 20264 EDGAR
  18. May 12, 20264 EDGAR
  19. May 12, 20264 EDGAR
  20. May 12, 20264 EDGAR

The 373 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

34 open-market trades by officers, directors and large owners since October 2021: 2 buys and 32 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 20, 2026Shirley Donald R.Exec. VPSale12,000$250.71$3.0MForm 4
Aug 7, 2026Hassfurther Thomas APresidentSale7,063$254.00$1.8MForm 4
Aug 5, 2026Hassfurther Thomas APresidentSale8,797$257.00$2.3MForm 4
Aug 3, 2026Hassfurther Thomas APresidentSale12,531$250.00$3.1MForm 4
May 27, 2026KOWLZAN MARK WChairman & CEOSale9,266$217.08$2.0MForm 4
Feb 5, 2026Hassfurther Thomas APresidentSale12,129$230.50$2.8MForm 4
Sep 11, 2025KOWLZAN MARK WChairman & CEOSale25,000$215.97$5.4MForm 4
Dec 3, 2024Vaughn JosephSVPSale2,300$244.89$563.3KForm 4
Nov 21, 2024STECKO PAUL TDirectorSale10,500$244.91$2.6MForm 4
Nov 12, 2024Shirley Donald R.Exec. VPSale8,000$240.20$1.9MForm 4
Nov 8, 2024Mundy Robert P.EVP & CFOSale12,500$240.62$3.0MForm 4
Nov 8, 2024KOWLZAN MARK WChairman & CEOSale27,031$240.34$6.5MForm 4
Nov 7, 2024KOWLZAN MARK WChairman & CEOSale36,444$239.54$8.7MForm 4
Nov 7, 2024Hassfurther Thomas APresidentSale3,246$240.30$780.0KForm 4
Nov 6, 2024KOWLZAN MARK WChairman & CEOSale3,165$243.01$769.1KForm 4
Nov 6, 2024Hassfurther Thomas APresidentSale16,492$242.38$4.0MForm 4
Jul 25, 2024Carter Charles J.EVP-Mill Ops.Sale5,389$196.28$1.1MForm 4
Jul 25, 2024Shirley Donald R.Exec. VPSale6,000$196.28$1.2MForm 4
May 15, 2024GOWLAND KAREN EDirectorBuy300$182.06$54.6KForm 4
Mar 6, 2024Mundy Robert P.EVP & CFOSale10,000$182.51$1.8MForm 4

All 34 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.7,711,541$1.8B0.0%+4,967
Vanguard Capital Management LLC5,803,824$1.4B0.0%+1,570
State Street Corp4,615,464$1.1B0.0%+371,020
Vanguard Portfolio Management LLC4,400,087$1.0B0.0%+19,517
Jpmorgan Chase & Co3,712,816$882.4M0.1%+285,777
Bank of New York Mellon Corp3,139,561$748.1M0.1%+903,977
FIL Ltd2,772,813$660.7M0.5%−85,110
Geode Capital Management, LLC2,499,804$593.4M0.0%+14,068
Royal Bank Of Canada2,235,961$532.8M0.1%−87,049
American Century Companies Inc2,011,324$479.3M0.2%−55,213
Ameriprise Financial Inc1,963,732$468.0M0.1%+23,016
Victory Capital Management Inc1,831,180$436.3M0.2%−192,938
Millennium Management LLC1,692,740$403.3M0.3%+577,075
Bank Of America Corp /de/1,592,949$379.6M0.0%+74,849
Atlas FRM LLC1,532,500$365.2M15.6%No change
Boston Partners1,456,806$347.1M0.3%−110,084
Morgan Stanley1,381,505$329.2M0.0%−129,055
Dimensional Fund Advisors LP1,329,859$316.9M0.1%+33,192
Invesco Ltd.1,189,046$283.3M0.0%+60,656
Select Equity Group, L.P.1,120,539$267.0M1.4%+97,498
Norges Bank1,078,180$256.9M0.0%New
Fmr LLC1,010,216$240.7M0.0%−187,179
Northern Trust Corp937,616$223.4M0.0%−2,733
Charles Schwab Investment Management Inc859,097$204.7M0.0%−1,333
Goldman Sachs Group Inc674,177$160.6M0.0%+8,405

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

22 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Aug 25, 2026April McClain DelaneyDemocratic, HouseSale$50,001 - $100,000+6.4%Report
May 6, 2026April McClain DelaneyDemocratic, HouseBuy$1,001 - $15,000−2.6%Report
Apr 29, 2026April McClain DelaneyDemocratic, HouseBuy$1,001 - $15,000−0.8%Report
Apr 24, 2026April McClain DelaneyDemocratic, HouseBuy$1,001 - $15,000+1.2%Report
Mar 20, 2026April McClain DelaneyDemocratic, HouseBuy$1,001 - $15,000−4.3%Report
Mar 17, 2026April McClain DelaneyDemocratic, HouseBuy$1,001 - $15,000−7.4%Report
Dec 18, 2025Julie JohnsonDemocratic, HouseSale$1,001 - $15,000+0.1%Report
Nov 13, 2025Julie JohnsonDemocratic, HousePartial sale$1,001 - $15,000−2.0%Report
Aug 14, 2025Julie JohnsonDemocratic, HousePartial sale$1,001 - $15,000+1.3%Report
Aug 4, 2025Julie JohnsonDemocratic, HouseBuy$1,001 - $15,000−1.8%Report
Jul 25, 2025Julie JohnsonDemocratic, HouseBuy$1,001 - $15,000−8.5%Report
Jul 22, 2025Julie JohnsonDemocratic, HouseBuy$1,001 - $15,000−9.4%Report
Sep 4, 2024John JamesRepublican, HouseSale$1,001 - $15,000+26.4%Report
Jul 2, 2024Kathy Manning, HouseBuy$1,001 - $15,000−9.6%Report
Jan 23, 2024Kathy Manning, HousePartial sale$1,001 - $15,000+19.5%Report
Apr 28, 2023Kathy Manning, HouseBuy$1,001 - $15,000−13.6%Report
Apr 28, 2023Kathy Manning, HouseBuy$1,001 - $15,000−13.6%Report
Jul 27, 2022Kathy Manning, HouseBuy$1,001 - $15,000−25.5%Report
Jul 27, 2022Kathy Manning, HouseBuy$1,001 - $15,000−25.5%Report
Jan 15, 2021Kathy Manning, HouseBuy$15,001 - $50,000−42.2%Report
Jan 15, 2021Kathy Manning, HouseBuy$1,001 - $15,000−42.2%Report
Apr 2, 2020Thomas R Carper, SenateSale$1,001 - $15,000+29.5%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

The numbers on this page point here. Each one links to the record it came from.

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