Packaging Corp. of America (PKG) FY2022 results: revenue $8.5 billion, up 9.7% on the year
Packaging Corp. of America (PKG) reported revenue of $8.5 billion for fiscal 2022, the year ended 31 December 2022, up 9.7% on the year before. Net income was $1.0 billion, up 22.4%, and diluted earnings per share $11.03. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2023.
Revenue
$8.5 billion
+9.7% on the year
FY2015FY2022
Operating margin
16.8%
16.1% a year earlier
FY2015FY2022
Net income
$1.0 billion
+22.4% on the year
FY2015FY2022
Diluted EPS
$11.03
+24.9% on the year
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
1,495
1,094
1,033
+36.6%
Capital expenditure
824
605
421
+36.2%
Free cash flow
671
489
612
+37.2%
Free cash flow margin
7.9%
6.3%
9.2%
Cash from investing
-834
-794
-426
Cash from financing
-960
-656
-312
Depreciation and amortisation
457
418
410
+9.4%
Share-based compensation
35.6
35.5
30.0
+0.3%
Buybacks
523
193
0.0
+170.8%
Dividends paid
420
380
300
+10.7%
Dividend per share
$4.75
$4.00
$3.37
+18.8%
Diluted shares, weighted
93m
94m
94m
-1.9%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
3,667
3,607
3,246
+1.7%
Debt
2,492
2,491
2,494
+0.0%
Operating lease liabilities
235
179
174
+30.8%
Finance lease liabilities
10.8
12.7
14.4
-15.0%
Other liabilities
1,600
1,547
1,505
+3.4%
Total liabilities and equity
8,004
7,837
7,433
+2.1%
Fixed assets
3,900
3,529
3,193
+10.5%
Goodwill
922
924
864
-0.1%
Intangible assets
268
308
296
-13.1%
Investments
150
146
148
+2.7%
Cash and equivalents
320
619
975
-48.3%
Receivables
1,032
1,071
832
-3.7%
Inventory
977
902
788
+8.3%
Other assets
434
338
337
+28.6%
Total assets
8,004
7,837
7,433
+2.1%
10-K for the year ended 31 December 2022, filed 23 February 2023: the filing.