Packaging Corp. of America (PKG) FY2021 results: revenue $7.7 billion, up 16.1% on the year
Packaging Corp. of America (PKG) reported revenue of $7.7 billion for fiscal 2021, the year ended 31 December 2021, up 16.1% on the year before. Net income was $841 million, up 82.5%, and diluted earnings per share $8.83. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2022.
Revenue
$7.7 billion
+16.1% on the year
FY2014FY2021
Operating margin
16.1%
10.9% a year earlier
FY2014FY2021
Net income
$841 million
+82.5% on the year
FY2014FY2021
Diluted EPS
$8.83
+82.4% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
1,094
1,033
1,207
+5.9%
Capital expenditure
605
421
400
+43.7%
Free cash flow
489
612
808
-20.0%
Free cash flow margin
6.3%
9.2%
11.6%
Cash from investing
-794
-426
-547
Cash from financing
-656
-312
-343
Depreciation and amortisation
418
410
388
+1.8%
Share-based compensation
35.5
30.0
30.4
+18.3%
Buybacks
193
0.0
0.0
Dividends paid
380
300
299
+26.8%
Dividend per share
$4.00
$3.37
$3.16
+18.7%
Diluted shares, weighted
94m
94m
94m
+0.1%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
3,607
3,246
3,071
+11.1%
Debt
2,491
2,494
2,493
-0.1%
Operating lease liabilities
179
174
178
+3.3%
Finance lease liabilities
12.7
14.4
16.0
-11.8%
Other liabilities
1,547
1,505
1,478
+2.8%
Total liabilities and equity
7,837
7,433
7,236
+5.4%
Fixed assets
3,529
3,193
3,152
+10.5%
Goodwill
924
864
919
+6.9%
Intangible assets
308
296
339
+4.2%
Investments
146
148
146
-1.5%
Cash and equivalents
619
975
680
-36.5%
Receivables
1,071
832
846
+28.7%
Inventory
902
788
794
+14.5%
Other assets
338
337
361
+0.1%
Total assets
7,837
7,433
7,236
+5.4%
10-K for the year ended 31 December 2021, filed 24 February 2022: the filing.