Packaging Corp. of America (PKG) FY2015 results: revenue $5.7 billion, down 1.9% on the year
Packaging Corp. of America (PKG) reported revenue of $5.7 billion for fiscal 2015, the year ended 31 December 2015, down 1.9% on the year before. Net income was $437 million, up 11.3%, and diluted earnings per share $4.47. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2016.
Revenue
$5.7 billion
-1.9% on the year
FY2008FY2015
Operating margin
13.1%
12.0% a year earlier
FY2008FY2015
Net income
$437 million
+11.3% on the year
FY2008FY2015
Diluted EPS
$4.47
+12.0% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
5,742
5,853
3,665
-1.9%
Cost of revenue
4,534
4,623
2,798
-1.9%
Gross profit
1,208
1,230
868
-1.7%
Gross margin
21.0%
21.0%
23.7%
Research and development
13.1
12.3
11.5
+6.5%
Selling, general and administrative
451
470
327
-3.9%
Operating income
750
703
482
+6.7%
Operating margin
13.1%
12.0%
13.1%
Pre-tax income
664
614
424
+8.2%
Income tax
228
222
-17.7
+2.7%
Effective tax rate
34.3%
36.1%
-4.2%
Net income
437
393
441
+11.3%
Net margin
7.6%
6.7%
12.0%
Diluted EPS
$4.47
$3.99
$4.52
+12.0%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
769
736
608
+4.4%
Capital expenditure
314
420
234
-25.2%
Free cash flow
454
316
374
+43.7%
Free cash flow margin
7.9%
5.4%
10.2%
Cash from investing
-298
-451
-1,411
Cash from financing
-411
-351
787
Depreciation and amortisation
356
381
202
-6.4%
Share-based compensation
18.2
15.6
14.8
+16.7%
Buybacks
155
0.0
7.8
Dividends paid
201
157
109
+27.6%
Dividend per share
$2.20
$1.60
$1.51
+37.5%
Diluted shares, weighted
97m
97m
98m
-0.4%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
1,633
1,521
1,357
+7.4%
Non-controlling interest
0.0
n/a
n/a
Debt
2,309
2,355
2,548
-2.0%
Other liabilities
1,330
1,382
1,295
-3.8%
Total liabilities and equity
5,272
5,259
5,200
+0.3%
Fixed assets
2,832
2,858
2,806
-0.9%
Goodwill
544
547
547
-0.5%
Intangible assets
271
294
311
-7.7%
Cash and equivalents
184
125
191
+47.5%
Receivables
636
646
643
-1.5%
Inventory
677
665
594
+1.8%
Other assets
128
125
109
+2.4%
Total assets
5,272
5,259
5,200
+0.3%
10-K for the year ended 31 December 2015, filed 26 February 2016: the filing.