PKGPackaging Corporation of America
Packaging Corporation of America (“we,” “us,” “our,” “PCA,” or the “Company”) is the third largest producer of containerboard products and a leading producer of uncoated freesheet (UFS) paper in North America. 10-K, Item 1
- Employees
- 16,800
- Headquarters
- Lake Forest, IL
- CEO
- Mark W. Kowlzan
- Next results
- around Jan 27, 2027
What changed
10-K filed Feb 26, 2026 against Feb 27, 2025| Area | What changed | Source |
|---|---|---|
| Risk factors | 3 new paragraphs, nothing like them in the previous 10-K | 10-K Item 1A |
| Critical audit matters changed | New this year: Fair value of acquired customer relationships intangible asset (“As discussed in Note 5 to the consolidated financial statements, the Company acquired the containerboard business of Greif, Inc. on September 2, 2025, for a total purchase consideration of $1.8 billion. In connection with the acquisition, the Company recorded intangible assets with an acquisition-da”). Same as last year: Evaluation of the value of the pension benefit obligation | 10-K · XBRL |
| Material impairment (8-K item 2.06) | 8-K item 2.06 (material impairments) filed 2025-12-04 | 10-K · XBRL |
| Accounting checks | 9 other checks clear, 2 worth a look | 10-K · XBRL |
| Insiders | No open-market buys in the last 90 days | Form 4 |
| Filings | 2 in the last 30 days | EDGAR |
Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.
What's new, in their words
10-K filed Feb 26, 2026Paragraphs in Risk Factors that were not in the 10-K filed 2025-02-27. Quoted as filed.
Acquisition Integration – The business may underperform relative to our expectations, and we may not be able to successfully integrate the business into our existing business. On September 2, 2025, we completed the acquisition of the containerboard business of Greif, Inc. The business may underperform relative to our expectations, which…
10-K, Item 1A
Accounting checks
latest 10-K9 of 11 clear 2 worth a look. Checks, not verdicts.
- !Critical audit matters changedNew this year: Fair value of acquired customer relationships intangible asset (“As discussed in Note 5 to the consolidated financial statements, the Company acquired the containerboard business of Greif, Inc. on September 2, 2025, for a total purchase consideration of $1.8 billion. In connection with the acquisition, the Company recorded intangible assets with an acquisition-da”). Same as last year: Evaluation of the value of the pension benefit obligation
- !Material impairment (8-K item 2.06)8-K item 2.06 (material impairments) filed 2025-12-04
- ✓Receivables +9.8% vs revenue +7.2% (+2.5 pts)
- ✓Cash from operations $1.6B vs net income $774.1M (FY ending 2025-12-31)
- ✓Inventory +10.5% vs revenue +7.2% (+3.3 pts)
- ✓Same auditor in both 10-Ks: KPMG LLP
- ✓No statement of substantial doubt about going concern
- ✓No 8-K item 4.02 in the last 2 years
- ✓No NT 10-K or NT 10-Q in the last 2 years
- ✓No sentence in the 10-K concludes that controls were not effective because of a material weakness
- ✓No 8-K item 1.03 in the last 2 years
In the last 30 days
All filings →- Nov 5, 202610-Q Quarterly report (10-Q) period ended Sep 30, 2026
- Oct 22, 20268-K Quarterly results 8-K item 2.02
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