Packaging Corp of America (PKG)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
At a market value of $19.8B, Packaging Corp of America's free cash flow of $729M (fiscal 2025) would need to grow about 9% a year for the stock to be worth today's price. That is faster than the company has grown its free cash flow over the last 9 years.
Assumes a 9% discount rate and 3% growth after year 10, on free cash flow (operating cash flow minus capital spending) from Packaging Corp of America's SEC filings. Change any assumption, or model revenue and margins instead, in the Modeling tab, or try your own numbers in the reverse DCF calculator.
Fundamental grade
Five factors scored 1 to 9 from PKG's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from Packaging Corp of America's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $7.7B | $8.5B | $7.8B | $8.4B | $9.0B |
| Net income | $841M | $1.0B | $765M | $805M | $774M |
| Free cash flow | $489M | $671M | $845M | $522M | $729M |
| EPS (diluted) | $8.83 | $11.03 | $8.48 | $8.93 | $8.58 |
| Operating margin | 16.1% | 16.8% | 13.8% | 13.1% | 12.3% |
Where the revenue comes from
Revenue by segments, fiscal 2025.
Superinvestors who own PKG
From each investor's latest 13F filing (what a 13F shows).
Insider buying
Open-market purchases by Packaging Corp of America's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
| Date | Insider | Shares | Price | Value |
|---|---|---|---|---|
| Mar 20, 2026 | April Mcclain Delaney |
0 | $202.15 | — |
| Mar 20, 2026 | April Mcclain Delaney |
0 | $202.15 | — |
| Mar 17, 2026 | April Mcclain Delaney |
0 | $216.01 | — |
| Mar 17, 2026 | April Mcclain Delaney |
0 | $216.01 | — |
| Jan 29, 2026 | Ro Khanna |
0 | $220.45 | — |
| Jan 29, 2026 | Ro Khanna |
0 | $220.45 | — |
| Nov 3, 2025 | Ro Khanna |
0 | $195.28 | — |
| Nov 3, 2025 | Ro Khanna |
0 | $195.28 | — |
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In the full deep dive
Questions
What growth does Packaging Corp of America's stock price imply?
At a market value of $19.8B, Packaging Corp of America would need its free cash flow to grow about 9% a year for 10 years (discounted at 9%, 3% growth after that) to be worth today's price. Over the last 9 years its free cash flow grew 4% a year.
Are Packaging Corp of America insiders buying the stock?
8 open-market insider purchases of PKG in the last 12 months, from SEC Form 4 filings.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.