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Packaging Corporation of America cash flow statement

In fiscal 2025, Packaging Corporation of America's operations generated $1.56bn of cash; it spent $829m on capital projects, leaving free cash flow of $729m. It returned $450m in dividends and $153m through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash from operations3063503464046087367698078561,1801,2071,0331,0941,4951,3151,1911,5581,624
Depreciation and amortisation151156164171202381357358391411388410418457518526653776
Stock-based pay7710121516182021243030363640494549
Capital spending114320280129234420315274343551400421605824470670829882
Free cash flow1923065276374316454533513629808612489671845522729742
Free cash flow after stock pay1852356264359300436513493605778582454635805473683693
Dividends paid776276118109157201216238268299300380420449449450448
Share buybacks—391254580155100——00193523420153—

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Packaging Corporation of America's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Packaging Corporation of America.