Packaging Corp. of America (PKG) FY2012 results: revenue $2.8 billion, up 8.5% on the year
Packaging Corp. of America (PKG) reported revenue of $2.8 billion for fiscal 2012, the year ended 31 December 2012, up 8.5% on the year before. Net income was $160 million, up 0.9%, and diluted earnings per share $1.64. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2013.
Revenue
$2.8 billion
+8.5% on the year
FY2008FY2012
Operating margin
15.4%
10.5% a year earlier
FY2008FY2012
Net income
$160 million
+0.9% on the year
FY2008FY2012
Diluted EPS
$1.64
+3.8% on the year
FY2008FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
2,844
2,620
2,436
+8.5%
Cost of revenue
2,209
2,078
1,903
+6.3%
Gross profit
635
543
532
+16.8%
Gross margin
22.3%
20.7%
21.9%
Research and development
11.3
12.5
10.9
-9.6%
Selling, general and administrative
281
259
182
+8.6%
Operating income
438
274
185
+59.7%
Operating margin
15.4%
10.5%
7.6%
Pre-tax income
375
245
153
+53.1%
Income tax
214
86.0
-52.3
+149.5%
Effective tax rate
57.2%
35.1%
-34.2%
Net income
160
159
205
+0.9%
Net margin
5.6%
6.1%
8.4%
Diluted EPS
$1.64
$1.58
$2.00
+3.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
404
346
350
+17.0%
Capital expenditure
129
280
320
-54.1%
Free cash flow
276
65.3
29.7
+322.2%
Free cash flow margin
9.7%
2.5%
1.2%
Cash from investing
-108
-350
-321
Cash from financing
-246
-35.6
-92.8
Depreciation and amortisation
171
164
156
+4.4%
Share-based compensation
11.7
9.7
7.0
+20.0%
Buybacks
45.2
125
38.9
-63.9%
Dividends paid
118
76.0
61.8
+55.0%
Dividend per share
$1.00
$0.80
$0.60
+25.0%
Diluted shares, weighted
98m
100m
103m
-2.9%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
1,008
971
1,051
+3.8%
Debt
794
808
658
-1.8%
Other liabilities
693
675
516
+2.7%
Total liabilities and equity
2,495
2,455
2,224
+1.6%
Fixed assets
1,366
1,477
1,338
-7.5%
Goodwill
67.2
58.2
38.9
+15.4%
Intangible assets
38.3
25.0
11.0
+52.9%
Cash and equivalents
207
156
197
+32.7%
Receivables
352
320
294
+10.0%
Inventory
332
255
241
+30.5%
Other assets
132
164
105
-19.7%
Total assets
2,495
2,455
2,224
+1.6%
10-K for the year ended 31 December 2012, filed 28 February 2013: the filing.