Income StatementBalance SheetCash FlowSegments
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Packaging Corp of America Cash Flow Statement

Operating, investing, and financing cash movements

Packaging Corp of America generated $1.5B in operating cash flow over the trailing twelve months. After $845.5M in capital expenditures, free cash flow was $702.2M. Free cash flow increased 0.3% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$1.5BNet Cash From Investing (TTM)-$2.7BNet Cash From Financing (TTM)$1.0BCapital Expenditures (TTM)$845.5MNet Change In Cash (TTM)-$354.6M
Latest FilingQ1 2026
Report Date2026-05-08
Market Cap$19.4B
P/E Ratio26.23
ROE16.31%

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisitions, net of cash acquired$0.0$0.0———$14.8M
Sales of short-term available-for-sale investments$4.8M$8.7M$3.9M$6.6M$21.9M$8.1M
Proceeds from Sales of Assets and Subsidiaries$500.0K$700.0K$32.3M$300.0K$100.0K$600.0K
Capital expenditures$201.3M$148.1M$169.7M$192.1M$319.0M$164.7M
Payments to Acquire Held-to-Maturity Securities$0.0$0.0$0.0$0.0$0.0—
Payments to Acquire Short-Term Investments—$0.0———$50.0M
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-Sale$15.1M$27.7M$31.4M$16.6M$26.0M$19.2M
Sale of investments$4.8M$8.7M$3.9M$6.6M$21.9M$8.1M
Proceeds from disposition of property, plant and equipment/other$500.0K$700.0K$32.3M$300.0K$100.0K$600.0K
Payments to Acquire Other Productive Assets$0.0$1.6M$300.0K$200.0K$300.0K$1.9M
Net cash from investing activities-$203.3M-$144.2M-$142.8M-$2.0B-$285.5M-$260.9M
Proceeds from maturities/sales of investments$4.8M$8.7M$3.9M$6.6M$21.9M$8.1M
Proceeds from sale of businesses$500.0K$700.0K$32.3M$300.0K$100.0K$600.0K
Purchases of fixed maturity securities$0.0$0.0$0.0$0.0$0.0—
Purchases of investments—$0.0———$50.0M
Proceeds from sale of PPE and intangibles$500.0K$700.0K$32.3M$300.0K$100.0K$600.0K

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Change in accounts payable—$26.8M$2.6M-$17.4M-$54.5M$36.5M
Change in accounts receivable—$20.1M$31.0M$59.5M—$79.1M
Change in accrued liabilities—-$77.3M-$47.2M—-$16.7M-$39.4M
Change in income taxes payable/receivable$25.3M-$39.6M$40.2M$47.4M—-$13.0M
Change in inventories$63.0M$15.7M$4.0M$8.4M-$32.5M$15.0M
Change in other assets—-$12.3M-$49.1M-$26.0M$0.0$18.5M
Other working capital changes$500.0K-$1.3M$4.8M$3.8M—$300.0K
Deferred income taxes—$8.8M—$106.6M—$17.4M
Gain (loss) on sale of assets-$6.6M-$3.8M$23.5M-$5.0M-$44.1M-$1.6M
Net cash from operating activities$325.4M$339.1M$299.6M$472.2M$446.6M$329.3M
Net income$221.1M$203.8M$241.5M$227.0M$101.8M$170.9M
Amortization / write off of discounts and deferred financing costs$500.0K$500.0K$500.0K$3.5M$800.0K$800.0K
Depreciation Depletion Amortization And Other Cash Flow Impact$136.0M$138.0M$140.6M$152.6M$221.6M$225.2M
Gain (Loss) on Disposition of Assets-$6.6M-$3.8M$23.5M-$5.0M-$44.1M-$1.6M
Increase (Decrease) in Income Taxes Receivable$25.3M-$39.6M$40.2M$47.4M—-$13.0M
Increase (Decrease) in Prepaid Expense and Other Assets—-$12.3M-$49.1M-$26.0M$0.0$18.5M
Pension And Postretirement Benefits Contributions Expense Net$0.0-$2.1M-$2.1M-$1.9M-$1.9M-$300.0K
Stock-based compensation$9.2M$17.8M$10.3M$8.5M$8.6M$15.3M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Repayments of debt$500.0K$500.0K$500.0K$600.0K$600.0K$600.0K
Dividends paid$112.3M$112.3M$112.4M$112.5M$111.9M$111.9M
Repayments of Debt and Lease Obligation$500.0K$500.0K$500.0K$600.0K$600.0K$600.0K
Net cash from financing activities-$113.7M-$128.2M-$120.6M$1.4B—-$200.3M
Repurchases of common stock$0.0$0.0———$58.8M
Taxes paid for net share settlement$900.0K$15.4M$7.7M$300.0K$200.0K$29.0M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$124.1M$191.0M$129.9M$280.1M$127.6M$164.6M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net increase (decrease) in cash$8.4M$66.7M$36.2M-$153.9M-$105.0M-$131.9M