IP vs PKG
International Paper Co. and Packaging Corp. of America, side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | IP | PKG |
|---|---|---|
| Revenue | $23.6B | $9.0B |
| Net income | $-3.5B | $774.1M |
| Gross margin | 29.6% | 21.0% |
| Net margin | −14.9% | 8.6% |
| Return on equity | −30.6% | 17.2% |
| Diluted EPS | −$6.95 | $8.58 |
| Dividend / share | $1.85 | $5.00 |
| Payout ratio | −27.8% | 58.1% |
| Free cash flow | $-159.0M | $728.6M |
| Equity | $14.8B | $4.6B |
| Net debt / equity | 0.59× | 0.75× |
| Current ratio | 1.28× | 3.17× |
| Revenue CAGR 5y | 6.1% | 6.2% |
| Profit CAGR 5y | · | 10.9% |
IP bills 2.6× the revenue of PKG, and IP closed the last reported year at a loss.
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 | IP | PKG |
|---|---|---|
| FY2025 | $23.6B | $9.0B |
| FY2024 | $15.8B | $8.4B |
| FY2023 | $16.0B | $7.8B |
| FY2022 | $21.2B | $8.5B |
| FY2021 | $19.4B | $7.7B |
| FY2020 | $17.6B | $6.7B |
| FY2019 | $18.3B | $7.0B |
| FY2018 | $23.3B | $7.0B |
| FY2017 | $21.7B | $6.4B |
| FY2016 | $19.5B | $5.8B |
Bottom line
| Fiscal year | IP | PKG |
|---|---|---|
| FY2025 | $-3.5B | $774.1M |
| FY2024 | $557.0M | $805.1M |
| FY2023 | $288.0M | $765.2M |
| FY2022 | $1.5B | $1.0B |
| FY2021 | $1.8B | $841.1M |
| FY2020 | $482.0M | $461.0M |
| FY2019 | $1.2B | $696.4M |
| FY2018 | $2.0B | $738.0M |
| FY2017 | $2.1B | $668.6M |
| FY2016 | $904.0M | $449.6M |
18 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$14,644,700,000 | IP |
| FY2024 | +$7,451,700,000 | IP |
| FY2023 | +$8,230,600,000 | IP |
| FY2022 | +$12,683,000,000 | IP |
| FY2021 | +$11,632,700,000 | IP |
| FY2020 | +$10,906,800,000 | IP |
| FY2019 | +$11,352,700,000 | IP |
| FY2018 | +$16,291,400,000 | IP |
| FY2017 | +$15,298,100,000 | IP |
| FY2016 | +$13,716,000,000 | IP |
| FY2015 | +$14,933,300,000 | IP |
| FY2014 | +$17,764,400,000 | IP |
| FY2013 | +$19,817,700,000 | IP |
| FY2012 | +$19,008,100,000 | IP |
| FY2011 | +$23,413,889,000 | IP |
| FY2010 | +$22,743,394,000 | IP |
| FY2009 | +$21,218,411,000 | IP |
| FY2008 | +$22,468,507,000 | IP |
IP has reported the higher revenue in every one of these 18 fiscal years. The gap has narrowed since the earliest year compared.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.
18 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −23.5 pp | PKG |
| FY2024 | −6.1 pp | PKG |
| FY2023 | −8.0 pp | PKG |
| FY2022 | −5.0 pp | PKG |
| FY2021 | −1.8 pp | PKG |
| FY2020 | −4.2 pp | PKG |
| FY2019 | −3.3 pp | PKG |
| FY2018 | −1.9 pp | PKG |
| FY2017 | −0.5 pp | PKG |
| FY2016 | −3.2 pp | PKG |
| FY2015 | −3.2 pp | PKG |
| FY2014 | −4.4 pp | PKG |
| FY2013 | −6.2 pp | PKG |
| FY2012 | −2.0 pp | PKG |
| FY2011 | −0.9 pp | PKG |
| FY2010 | −5.6 pp | PKG |
| FY2009 | −9.5 pp | PKG |
| FY2008 | −10.9 pp | PKG |
PKG has kept the higher net margin in every one of these 18 fiscal years.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
IP's net margin has been more volatile than PKG's over the 18 comparable fiscal years — 5.5 percentage points of standard deviation against 2.2.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
PKG led in net margin in every one of the 18 comparable fiscal years — a structural lead, not a recent swing.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
IP's return on equity has been more volatile than PKG's over the 18 comparable fiscal years — 15.7 percentage points of standard deviation against 6.6.
18 of 19 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 IP and PKG over these 18 fiscal years — IP led in 2 and PKG in 16.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.