PACKAGING CORP OF AMERICA

PKG · Materials · $20.58T mkt cap · FY2025 filings · Narrow moat

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Narrow moat

The four filters

Pricing power38

Median gross margin 22.5% over 10y, very stable.

Returns on capital78

Median ROIC 14.9%, above the 9% hurdle in 100% of years.

Balance-sheet safety73

Net debt/EBITDA 2.0x, no material interest expense disclosed.

Capital discipline62

Owner earnings +4.2%/yr, share count shrinking (buybacks).

Margin of safety

Above valueOn sale

227649% above value

Owner earnings (normalized): $813.2M
Est. intrinsic value / share: $0.10
Recent price: $230.66
Discount to value: 227649% above value

Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell PKG. See the disclaimer.