Packaging Corporation of America (PKG) quarterly cash flow statement — complete operating, investing & financing history
Packaging Corporation of America (PKG) cash flow statement — 28-year operating, investing & financing cash flows
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 |
|---|
| Cash from Operations | 471.6M | 376M | 329.3M | 446.6M | 472.2M | 299.6M | 339.1M | 325.4M | 327.1M | 278.3M | 260.4M | 335.3M | 339.5M | 359.9M | 280.4M | 420.1M | 430.6M | 319M | 325.3M | 390.7M |
| Operating CF Margin % | 18.13% | 15.1% | 13.91% | 18.89% | 20.41% | 13.8% | 15.84% | 15.16% | 14.99% | 13.41% | 13.15% | 17.3% | 17.54% | 18.44% | 14.19% | 21.23% | 20.26% | 14.26% | 15.23% | 19.12% |
| Operating CF Growth % | -0.13% | 25.5% | -2.89% | 37.25% | 44.36% | 7.65% | 30.22% | -2.95% | -3.65% | -22.67% | -7.13% | -20.19% | -21.16% | 12.82% | -13.8% | 7.52% | 51.83% | 39.79% | 69.78% | 44.12% |
| Net Income | 262.3M | 192.1M | 169.8M | 101.8M | 227M | 241.5M | 203.8M | 219.6M | 238.1M | 199M | 145.9M | 187.8M | 181.8M | 200.8M | 190.1M | 211.6M | 262.5M | 301.5M | 254.2M | 216.5M |
| Depreciation & Amortization | 181.3M | 176.3M | 225.2M | 221.6M | 152.6M | 140.6M | 138M | 136M | 132.7M | 128.5M | 128.4M | 130.8M | 129.4M | 127.9M | 129.5M | 118.8M | 114M | 114.3M | 109.7M | 417.5M |
| Stock-Based Compensation | 15.1M | 17M | 0 | 8.6M | 8.5M | 10.3M | 17.8M | 9.2M | 10.4M | 9.8M | 19.4M | 7.5M | 7.7M | 9.5M | 15.3M | 6.9M | 7.1M | 9.3M | 12.3M | 8.6M |
| Deferred Taxes | -11.9M | 3.7M | 17.4M | -12.1M | 106.6M | -6M | 8.8M | 13.8M | -12.1M | -14.3M | 8.4M | 12.9M | -2.3M | -8.1M | 2.7M | 38.7M | 18.5M | 5.9M | 22.9M | 17.7M |
| Other Non-Cash Items | 15.1M | 76.9M | 19.4M | 39.6M | 14.2M | -16.1M | 5.29M | 10.4M | -163.3M | 18.4M | 15.5M | 11.8M | -43.4M | 14.6M | 14.1M | 3.4M | -46.5M | 7.1M | 7.9M | -250.9M |
| Working Capital Changes | 9.7M | -90M | -102.5M | 87.1M | -36.7M | -70.7M | -34.59M | -63.6M | 121.3M | -63.1M | -58.2M | -17M | 66.3M | 15.2M | -71.3M | 40.7M | 75M | -119.1M | -81.7M | -18.7M |
| Change in Receivables | -55.4M | -91.8M | -79.1M | 100.3M | -59.5M | -31M | -20.1M | 72.1M | -70.8M | -100.1M | -11.9M | 12M | -21.2M | 7.4M | 400K | 80.9M | 99.3M | -71.3M | -69.6M | 7.1M |
| Change in Inventory | -47.3M | -3.9M | -15M | 32.5M | -8.4M | -4M | -15.7M | -63M | -32.4M | -25.9M | 9.5M | -27M | 6.1M | 11.2M | -26.1M | 17.6M | -41.1M | -12.9M | -38.8M | -13.2M |
| Change in Payables | 14.2M | 59.9M | 36.5M | -54.5M | -17.4M | 2.6M | 26.8M | -17.8M | -17M | 51.6M | 1.5M | 12.5M | 31.1M | -27.2M | -5M | -27M | -16.2M | -38.5M | 63.6M | -10.1M |
| Cash from Investing | -245.2M | -216.6M | -260.9M | -285.5M | -2B | -142.8M | -144.2M | -203.3M | 249.3M | -242.8M | -81M | -544M | -88.9M | -126.8M | -115.4M | -251.8M | -183.8M | -176.9M | -221.2M | -429.4M |
| Capital Expenditures | -247.3M | -205.9M | -166.6M | -319M | -192.1M | -169.7M | -148.1M | -201.3M | -145M | -245.3M | -76.7M | -141.2M | -90.1M | -127M | -112.4M | -247.1M | -179.6M | -184.3M | -213.2M | -238.9M |
| CapEx % of Revenue | 9.51% | 8.27% | 7.04% | 13.5% | 8.3% | 7.82% | 6.92% | 9.38% | 6.64% | 11.82% | 3.87% | 7.29% | 4.65% | 6.51% | 5.69% | 12.49% | 8.45% | 8.24% | 9.98% | 11.69% |
| Acquisitions | 0 | -6.4M | -14.2M | 29.1M | -1.83B | 32.3M | -1.6M | 0 | 0 | 500K | 0 | 100K | 0 | 100K | 0 | 831.6M | 1.4M | 200K | 200K | -194.9M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 5.8M | 1.4M | 0 | -29.3M | 30.8M | -300K | 700K | 500K | -1.7M | 200K | -1.3M | 0 | 800K | -500K | -1.3M | -831.6M | -3.2M | 1.7M | -2.2M | 5.3M |
| Cash from Financing | -134.6M | -113.7M | -200.3M | -266.1M | 1.37B | -120.6M | -128.2M | -113.7M | -513.4M | -114.3M | -135M | 283.5M | -154.5M | -123.7M | -117.3M | -497M | -265.4M | -103.4M | -94.2M | -1.05B |
| Debt Issued (Net) | -700K | -400K | -600K | -400K | 1.49B | -500K | -500K | -500K | -400.4M | -500K | -500K | 396.6M | -500K | -400K | -500K | -400K | -400K | -500K | -400K | -762.6M |
| Equity Issued (Net) | -300K | -800K | -58.8M | -153M | -300K | -7.7M | -15.4M | -900K | -700K | -1.6M | -22.5M | 0 | -41.6M | -10.9M | -4.7M | -380.7M | -142M | -9.3M | -200K | -194M |
| Dividends Paid | -133.7M | -111.3M | -111.9M | -112.5M | -112.4M | -112.4M | -112.3M | -112.3M | -112.3M | -112.2M | -112M | -112M | -112.4M | -112.4M | -112.1M | -115.9M | -117.2M | -93.6M | -93.6M | -95M |
| Share Repurchases | -300K | -800K | -58.8M | -153M | -300K | -7.7M | -15.4M | -900K | -700K | -1.6M | -22.5M | 15.6M | -41.6M | -10.9M | -4.7M | -380.7M | -147.8M | -9.3M | -200K | -194M |
| Other Financing | 100K | -1.2M | -29M | -200K | -6.5M | 0 | 0 | 0 | 0 | 0 | 0 | -1.1M | 0 | 0 | 0 | 0 | -5.8M | 0 | 0 | 6.1M |
| Net Change in Cash | 91.8M | 45.7M | -131.9M | -105M | -153.9M | 36.2M | 66.7M | 8.4M | 63M | -78.8M | 44.4M | 74.8M | 96.1M | 109.4M | 47.7M | -328.7M | -18.6M | 38.7M | 9.9M | -1.08B |
| Free Cash Flow | 224.3M | 170.1M | 164.6M | 127.6M | 280.1M | 129.9M | 191M | 124.1M | 180.4M | 33M | 182.3M | 194.2M | 249.4M | 232.9M | 168M | 173M | 251M | 134.7M | 112.1M | 151.8M |
| FCF Margin % | 8.62% | 6.83% | 6.95% | 5.4% | 12.11% | 5.98% | 8.92% | 5.78% | 8.27% | 1.59% | 9.21% | 10.02% | 12.88% | 11.93% | 8.5% | 8.74% | 11.81% | 6.02% | 5.25% | 7.43% |
| FCF Growth % | -19.92% | 30.95% | -13.82% | 2.82% | 55.27% | 293.64% | 4.77% | -36.1% | -27.67% | -85.83% | 8.51% | 12.25% | -0.64% | 72.9% | 49.87% | 13.97% | 87.45% | 39.15% | 5.26% | 46.81% |
| FCF per Share | 2.52 | 1.91 | 1.85 | 1.42 | 3.10 | 1.45 | 2.13 | 1.39 | 2.02 | 0.37 | 2.04 | 2.17 | 2.79 | 2.60 | 1.88 | 1.90 | 2.69 | 1.44 | 1.20 | 1.61 |
| FCF Conversion (FCF/Net Income) | 1.80x | 1.96x | 1.93x | 4.42x | 2.08x | 1.24x | 1.66x | 1.47x | 1.37x | 1.40x | 1.77x | 1.77x | 1.85x | 1.78x | 1.48x | 1.99x | 1.64x | 1.06x | 1.28x | 1.80x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |