GPK vs PKG
Graphic Packaging Holding Co. and Packaging Corp. of America, side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | GPK | PKG |
|---|---|---|
| Revenue | $8.6B | $9.0B |
| Net income | $444.0M | $774.1M |
| Gross margin | 18.6% | 21.0% |
| Net margin | 5.2% | 8.6% |
| Return on equity | 14.0% | 17.2% |
| Diluted EPS | $1.48 | $8.58 |
| Dividend / share | · | $5.00 |
| Payout ratio | 28.8% | 58.1% |
| Free cash flow | · | $728.6M |
| Equity | $3.3B | $4.6B |
| Net debt / equity | 1.58× | 0.75× |
| Current ratio | 1.30× | 3.17× |
| Revenue CAGR 5y | 5.6% | 6.2% |
| Profit CAGR 5y | 21.6% | 10.9% |
GPK and PKG book revenue within 15% of each other, and PKG keeps more of each dollar of revenue as profit (8.6% against 5.2%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | GPK | PKG |
|---|---|---|
| FY2025 | $8.6B | $9.0B |
| FY2024 | $8.8B | $8.4B |
| FY2023 | $9.4B | $7.8B |
| FY2022 | $9.4B | $8.5B |
| FY2021 | $7.2B | $7.7B |
| FY2020 | $6.6B | $6.7B |
| FY2019 | $6.2B | $7.0B |
| FY2018 | $6.0B | $7.0B |
| FY2017 | $4.4B | $6.4B |
| FY2016 | $4.3B | $5.8B |
Bottom line
| Fiscal year | GPK | PKG |
|---|---|---|
| FY2025 | $444.0M | $774.1M |
| FY2024 | $658.0M | $805.1M |
| FY2023 | $723.0M | $765.2M |
| FY2022 | $522.0M | $1.0B |
| FY2021 | $204.0M | $841.1M |
| FY2020 | $167.0M | $461.0M |
| FY2019 | $207.0M | $696.4M |
| FY2018 | $221.1M | $738.0M |
| FY2017 | $300.2M | $668.6M |
| FY2016 | $228.0M | $449.6M |
17 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$372,300,000 | PKG |
| FY2024 | +$423,700,000 | GPK |
| FY2023 | +$1,625,600,000 | GPK |
| FY2022 | +$962,000,000 | GPK |
| FY2021 | −$574,300,000 | PKG |
| FY2020 | −$98,200,000 | PKG |
| FY2019 | −$804,300,000 | PKG |
| FY2018 | −$985,200,000 | PKG |
| FY2017 | −$2,039,300,000 | PKG |
| FY2016 | −$1,480,900,000 | PKG |
| FY2015 | −$1,581,500,000 | PKG |
| FY2014 | −$1,612,100,000 | PKG |
| FY2013 | +$812,800,000 | GPK |
| FY2012 | +$1,493,200,000 | GPK |
| FY2011 | +$1,586,189,000 | GPK |
| FY2010 | +$1,659,394,000 | GPK |
| FY2009 | +$1,948,211,000 | GPK |
The higher-revenue side has changed between GPK and PKG over this period. The gap has narrowed since the earliest year compared.
17 of 18 comparable fiscal years — a year missing data on either side is not counted.
17 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −3.5 pp | PKG |
| FY2024 | −2.1 pp | PKG |
| FY2023 | −2.1 pp | PKG |
| FY2022 | −6.6 pp | PKG |
| FY2021 | −7.9 pp | PKG |
| FY2020 | −3.8 pp | PKG |
| FY2019 | −5.5 pp | PKG |
| FY2018 | −5.6 pp | PKG |
| FY2017 | −3.6 pp | PKG |
| FY2016 | −2.5 pp | PKG |
| FY2015 | −2.1 pp | PKG |
| FY2014 | −4.6 pp | PKG |
| FY2013 | −8.8 pp | PKG |
| FY2012 | −2.9 pp | PKG |
| FY2011 | +0.5 pp | GPK |
| FY2010 | −8.2 pp | PKG |
| FY2009 | −11.0 pp | PKG |
The higher net margin has changed hands between GPK and PKG over this period.
17 of 18 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
GPK's net margin has been more volatile than PKG's over the 17 comparable fiscal years — 2.1 percentage points of standard deviation against 2.1.
17 of 18 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between GPK and PKG over these 17 fiscal years — GPK led in 1 and PKG in 16.
17 of 18 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
GPK's return on equity has been more volatile than PKG's over the 17 comparable fiscal years — 7.8 percentage points of standard deviation against 6.7.
17 of 18 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between GPK and PKG over these 17 fiscal years — GPK led in 3 and PKG in 14.
17 of 18 comparable fiscal years — a year missing data on either side is not counted.