PACKAGING CORP OF AMERICA（PKG）の決算・業績分析
PACKAGING CORP OF AMERICAの2025年有価証券報告書をAI分析。売上高$9.0B(+7.2%)。営業利益$1.1B。Materials。
目次
PACKAGING CORP OF AMERICAの2025年度 業績サマリー
PACKAGING CORP OF AMERICA（証券コード: PKG）の2025年度決算・業績分析。売上高は$9.0B（前年比+7.2%）。営業利益は$1.1B（前年比+0.5%）。純利益は$774M（前年比-3.9%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
PACKAGING CORP OF AMERICAの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- PKG achieved $8.5B revenue in FY2024 (+9.7% YoY) with net income of $1.0B (+22.4% YoY) (XBRL).
- Operating margins expanded to 16.8% (up 14.4% YoY) and gross margins reached 24.7% (XBRL).
- Free cash flow (FCF) totaled $671M, driven by $1.5B operating cash flow and $824M CapEx (XBRL).
- Equity ratio of 49.9% and net debt/EBITDA of 1.0x reflect strong financial health (XBRL).
- Shareholder returns reached $943M through dividends ($420M) and buybacks ($523M) (XBRL).
PACKAGING CORP OF AMERICAの売上高変化の要因
- •Revenue grew to $8.5B in FY2024 (+9.7% YoY), with historical growth showing a 2.2% CAGR over five years (XBRL). The 2025 forecast indicates a decline to $7.8B, though segment-specific revenue breakdowns are not disclosed (XBRL). Growth drivers include strong demand for packaging solutions and efficient production processes, supported by a 1.06x asset turnover ratio (XBRL).
PACKAGING CORP OF AMERICAの営業利益変化の要因
- •PKG achieved 24.7% gross margins and 16.8% operating margins in FY2024, up 14.4% YoY in operating income and 22.4% YoY in net income (XBRL). Net margins expanded to 12.2%, reflecting cost control and pricing power. Operating income CAGR of 0.1% over five years contrasts with net income CAGR of 0.7%, indicating improved profitability despite flat operating income growth (XBRL).
PACKAGING CORP OF AMERICAの事業リスクと対応
General economic downturns could reduce demand and increase costs (10-K).
Industry cyclicality and price volatility due to macroeconomic factors may impact margins (10-K).
Trade policy changes, including tariffs and tax laws, could disrupt markets and raise costs (10-K).
Persistent inflation may increase production/transportation costs, which may not be fully recoverable through pricing (10-K).
Uncertain 2025 outlook and potential recessions could lower consumer spending and earnings (10-K).
PACKAGING CORP OF AMERICAの今後の見通し・業績予想
PACKAGING CORP OF AMERICAの事業内容
Packaging Corp of America (PKG) operates as the third-largest containerboard producer in North America, manufacturing corrugated packaging products and uncoated freesheet (UFS) paper for food, beverage, and consumer goods industries (10-K). Its primary revenue streams include corrugated boxes, honeycomb packaging, and UFS paper, with no significant customer concentration (10-K). Competitive advantages include sustainable production using renewable materials and high operational efficiency, evidenced by 24.7% gross margins and 16.8% operating margins (XBRL).
PACKAGING CORP OF AMERICAのAI業績分析レポート（2024年度）
Packaging Corp of America (PKG) FY2024 Annual Report Analysis
Highlights
Business Overview
PKG produces containerboard and UFS paper for food, beverage, and consumer goods industries, operating as the third-largest containerboard producer in North America (10-K). Key products include corrugated boxes, honeycomb packaging, and UFS paper, with no significant customer concentration (10-K). Competitive advantages include sustainable production and high operational efficiency, evidenced by 24.7% gross margins and 16.8% operating margins (XBRL).
Revenue Analysis
FY2024 revenue of $8.5B reflects +9.7% YoY growth, with a 2.2% CAGR over five years (XBRL). Historical data shows revenue growth from $7.0B in FY2020 to $8.5B in FY2024, though FY2025 forecasts a decline to $7.8B (XBRL). Growth is driven by demand for packaging solutions and efficient production processes, supported by a 1.06x asset turnover ratio (XBRL).
Profitability Analysis
PKG achieved 24.7% gross margins and 16.8% operating margins in FY2024, up 14.4% YoY in operating income and 22.4% YoY in net income (XBRL). Net margins expanded to 12.2%, reflecting cost control and pricing power. Operating income CAGR of 0.1% over five years contrasts with net income CAGR of 0.7%, indicating improved profitability despite flat operating income growth (XBRL).
Balance Sheet Analysis
Total assets rose to $8.0B in FY2024, with equity increasing to $4.0B (49.9% equity ratio) (XBRL). Long-term debt of $2.5B and net debt of $1.8B (1.0x EBITDA) indicate manageable leverage. Current assets exceed current liabilities by 2.57x, reflecting strong liquidity (XBRL). Cash reserves of $648M provide financial flexibility (XBRL).
Cash Flow Analysis
Operating cash flow reached $1.5B in FY2024, with $671M in free cash flow after $824M in CapEx (XBRL). CapEx intensity of 9.7% and a CapEx/D&A ratio of 1.80x suggest reinvestment in assets (XBRL). Dividends paid $420M and share repurchases totaled $523M, reflecting a 40.8% payout ratio (XBRL).
Working Capital Analysis
Cash conversion cycle (CCC) was 79 days in FY2024, with receivables days at 44, inventory days at 58, and payables days at 23 (XBRL).
Risks
Outlook
The 10-K notes uncertainty in FY2025, with potential recessions and economic headwinds that could affect demand and profitability. No specific guidance is provided for future revenue or margin targets.
Historical Time Series
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | 7.0B | 7.0B | 6.7B | 7.7B | 8.5B | 7.8B |
| Operating Income | 1.1B | 1.1B | 724M | 1.2B | 1.4B | 1.1B |
| Net Income | 738M | 696M | 461M | 841M | 1.0B | 765M |
| Total Assets | 6.6B | 7.2B | 7.4B | 7.8B | 8.0B | 8.7B |
| Total Equity | 3.1B | 3.2B | 3.6B | 3.7B | 4.0B | 4.4B |
| Operating Cash Flow | 1.2B | 1.2B | 1.0B | 1.1B | 1.5B | 1.3B |
Materialsの企業一覧
PACKAGING CORP OF AMERICAと同じ「Materials」セクターの企業