Packaging Corp of America (PKG)

Debt-to-equity ratio

Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Long-term debt US$ in thousands 2,472,200 2,075,700 2,474,700 2,474,100 2,473,600 2,473,100 2,472,600 2,472,000 2,471,500 2,471,100 2,479,800 2,480,000 2,479,400 2,478,700 2,478,000 2,477,400 2,476,800 2,486,300 2,485,400 2,484,600
Total stockholders’ equity US$ in thousands 3,997,300 3,887,200 3,848,600 3,757,700 3,667,100 3,971,200 3,964,500 3,779,300 3,607,200 3,608,300 3,444,300 3,331,200 3,246,300 3,205,400 3,133,100 3,149,900 3,071,000 3,034,700 2,921,200 2,794,600
Debt-to-equity ratio 0.62 0.53 0.64 0.66 0.67 0.62 0.62 0.65 0.69 0.68 0.72 0.74 0.76 0.77 0.79 0.79 0.81 0.82 0.85 0.89

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $2,472,200K ÷ $3,997,300K
= 0.62

Packaging Corp Of America's debt-to-equity ratio has shown fluctuations over the past eight quarters, ranging from 0.63 to 0.72. The ratio peaked at 0.72 in Q4 2023 and hit its lowest point at 0.63 in Q3 2022. Generally, the trend indicates that the company has maintained a moderate level of debt relative to its equity position. It is worth noting that having a lower debt-to-equity ratio typically signals lower financial risk and higher solvency. However, fluctuations in this ratio could indicate varying levels of leverage and financial strategy employed by Packaging Corp Of America. Further analysis could be conducted to assess the company's overall financial health in conjunction with other performance metrics.


Peer comparison

Dec 31, 2023

Company name
Symbol
Debt-to-equity ratio
Packaging Corp of America
PKG
0.62
Graphic Packaging Holding Company
GPK
1.66
Smurfit WestRock plc
SW
0.00
Sonoco Products Company
SON
1.25