Packaging Corp. of America (PKG) FY2016 results: revenue $5.8 billion, up 0.6% on the year
Packaging Corp. of America (PKG) reported revenue of $5.8 billion for fiscal 2016, the year ended 31 December 2016, up 0.6% on the year before. Net income was $450 million, up 2.9%, and diluted earnings per share $4.75. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2019.
Revenue
$5.8 billion
+0.6% on the year
FY2009FY2016
Operating margin
13.6%
13.1% a year earlier
FY2009FY2016
Net income
$450 million
+2.9% on the year
FY2009FY2016
Diluted EPS
$4.75
+6.3% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
5,779
5,742
5,853
+0.6%
Cost of revenue
4,503
4,534
4,623
-0.7%
Gross profit
1,276
1,208
1,230
+5.6%
Gross margin
22.1%
21.0%
21.0%
Research and development
13.3
13.1
12.3
+1.5%
Selling, general and administrative
468
451
470
+3.8%
Operating income
783
750
703
+4.4%
Operating margin
13.6%
13.1%
12.0%
Pre-tax income
688
664
614
+3.6%
Income tax
239
228
222
+4.9%
Effective tax rate
34.7%
34.3%
36.1%
Net income
450
437
393
+2.9%
Net margin
7.8%
7.6%
6.7%
Diluted EPS
$4.75
$4.47
$3.99
+6.3%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
807
769
736
+5.0%
Capital expenditure
274
314
420
-12.8%
Free cash flow
533
454
316
+17.3%
Free cash flow margin
9.2%
7.9%
5.4%
Cash from investing
-770
-298
-451
Cash from financing
17.8
-411
-351
Depreciation and amortisation
358
356
381
+0.4%
Share-based compensation
19.7
18.2
15.6
+8.2%
Buybacks
100
155
0.0
-35.2%
Dividends paid
216
201
157
+7.6%
Dividend per share
$2.36
$2.20
$1.60
+7.3%
Diluted shares, weighted
94m
97m
97m
-3.1%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
1,760
1,633
1,521
+7.7%
Non-controlling interest
n/a
0.0
n/a
Debt
2,658
2,309
2,355
+15.1%
Other liabilities
1,359
1,330
1,382
+2.2%
Total liabilities and equity
5,777
5,272
5,259
+9.6%
Fixed assets
2,896
2,832
2,858
+2.2%
Goodwill
738
544
547
+35.6%
Intangible assets
367
271
294
+35.6%
Cash and equivalents
239
184
125
+29.9%
Receivables
689
636
646
+8.3%
Inventory
724
677
665
+6.9%
Other assets
124
128
125
-2.9%
Total assets
5,777
5,272
5,259
+9.6%
10-K for the year ended 31 December 2016, filed 28 February 2019: the filing.