Intrinsic value of Packaging of America - PKG

Previous Close

$107.73

  Intrinsic Value

premium content

  Rating & Target

premium content

  Value-price divergence*

premium content

Previous close

$107.73

 
Intrinsic value premium content
 
Up/down potential premium content
 
Rating premium content
 
Value-price divergence* premium content

Premium access subscription - $499/yr

please register and log in before paying

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of PKG stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 10.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  0.64
  6.20
  6.08
  5.97
  5.87
  5.79
  5.71
  5.64
  5.57
  5.52
  5.46
  5.42
  5.38
  5.34
  5.31
  5.27
  5.25
  5.22
  5.20
  5.18
  5.16
  5.15
  5.13
  5.12
  5.11
  5.10
  5.09
  5.08
  5.07
  5.06
  5.06
Revenue, $m
  5,779
  6,137
  6,510
  6,899
  7,305
  7,727
  8,168
  8,629
  9,110
  9,612
  10,138
  10,687
  11,262
  11,863
  12,492
  13,151
  13,841
  14,564
  15,321
  16,115
  16,947
  17,819
  18,733
  19,692
  20,698
  21,752
  22,859
  24,019
  25,237
  26,515
  27,856
Variable operating expenses, $m
 
  1,157
  1,224
  1,293
  1,366
  1,442
  1,521
  1,604
  1,690
  1,781
  1,875
  1,919
  2,022
  2,130
  2,243
  2,362
  2,486
  2,616
  2,752
  2,894
  3,043
  3,200
  3,364
  3,536
  3,717
  3,906
  4,105
  4,314
  4,532
  4,762
  5,002
Fixed operating expenses, $m
 
  4,104
  4,207
  4,312
  4,420
  4,530
  4,643
  4,759
  4,878
  5,000
  5,125
  5,254
  5,385
  5,520
  5,658
  5,799
  5,944
  6,093
  6,245
  6,401
  6,561
  6,725
  6,893
  7,066
  7,242
  7,423
  7,609
  7,799
  7,994
  8,194
  8,399
Total operating expenses, $m
  4,999
  5,261
  5,431
  5,605
  5,786
  5,972
  6,164
  6,363
  6,568
  6,781
  7,000
  7,173
  7,407
  7,650
  7,901
  8,161
  8,430
  8,709
  8,997
  9,295
  9,604
  9,925
  10,257
  10,602
  10,959
  11,329
  11,714
  12,113
  12,526
  12,956
  13,401
Operating income, $m
  780
  877
  1,080
  1,294
  1,519
  1,755
  2,004
  2,265
  2,541
  2,831
  3,137
  3,514
  3,854
  4,213
  4,591
  4,990
  5,412
  5,856
  6,325
  6,820
  7,342
  7,894
  8,476
  9,090
  9,739
  10,423
  11,145
  11,907
  12,711
  13,559
  14,454
EBITDA, $m
  1,138
  1,260
  1,483
  1,718
  1,964
  2,223
  2,496
  2,782
  3,083
  3,401
  3,735
  4,087
  4,458
  4,848
  5,260
  5,695
  6,153
  6,636
  7,146
  7,683
  8,250
  8,848
  9,479
  10,145
  10,847
  11,588
  12,369
  13,193
  14,063
  14,980
  15,947
Interest expense (income), $m
  88
  86
  94
  103
  112
  121
  131
  141
  152
  163
  175
  187
  200
  213
  227
  242
  257
  273
  290
  308
  326
  345
  366
  387
  409
  433
  457
  483
  510
  538
  568
Earnings before tax, $m
  689
  791
  986
  1,191
  1,407
  1,634
  1,873
  2,124
  2,389
  2,668
  2,963
  3,327
  3,655
  4,000
  4,364
  4,749
  5,155
  5,583
  6,035
  6,513
  7,017
  7,549
  8,110
  8,703
  9,329
  9,990
  10,688
  11,424
  12,201
  13,021
  13,887
Tax expense, $m
  239
  214
  266
  322
  380
  441
  506
  574
  645
  720
  800
  898
  987
  1,080
  1,178
  1,282
  1,392
  1,507
  1,629
  1,758
  1,894
  2,038
  2,190
  2,350
  2,519
  2,697
  2,886
  3,085
  3,294
  3,516
  3,749
Net income, $m
  450
  577
  720
  870
  1,027
  1,193
  1,367
  1,551
  1,744
  1,948
  2,163
  2,429
  2,668
  2,920
  3,186
  3,467
  3,763
  4,076
  4,406
  4,754
  5,122
  5,510
  5,921
  6,353
  6,810
  7,293
  7,802
  8,340
  8,907
  9,506
  10,137

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  239
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  5,777
  5,403
  5,731
  6,073
  6,430
  6,802
  7,191
  7,596
  8,019
  8,462
  8,924
  9,408
  9,913
  10,443
  10,997
  11,577
  12,184
  12,820
  13,487
  14,186
  14,918
  15,686
  16,491
  17,335
  18,220
  19,148
  20,122
  21,144
  22,216
  23,341
  24,521
Adjusted assets (=assets-cash), $m
  5,538
  5,403
  5,731
  6,073
  6,430
  6,802
  7,191
  7,596
  8,019
  8,462
  8,924
  9,408
  9,913
  10,443
  10,997
  11,577
  12,184
  12,820
  13,487
  14,186
  14,918
  15,686
  16,491
  17,335
  18,220
  19,148
  20,122
  21,144
  22,216
  23,341
  24,521
Revenue / Adjusted assets
  1.044
  1.136
  1.136
  1.136
  1.136
  1.136
  1.136
  1.136
  1.136
  1.136
  1.136
  1.136
  1.136
  1.136
  1.136
  1.136
  1.136
  1.136
  1.136
  1.136
  1.136
  1.136
  1.136
  1.136
  1.136
  1.136
  1.136
  1.136
  1.136
  1.136
  1.136
Average production assets, $m
  3,183
  3,320
  3,522
  3,732
  3,952
  4,180
  4,419
  4,668
  4,928
  5,200
  5,485
  5,782
  6,093
  6,418
  6,758
  7,115
  7,488
  7,879
  8,289
  8,718
  9,168
  9,640
  10,135
  10,653
  11,197
  11,768
  12,367
  12,995
  13,653
  14,345
  15,070
Working capital, $m
  1,071
  865
  918
  973
  1,030
  1,090
  1,152
  1,217
  1,284
  1,355
  1,429
  1,507
  1,588
  1,673
  1,761
  1,854
  1,952
  2,054
  2,160
  2,272
  2,390
  2,512
  2,641
  2,777
  2,918
  3,067
  3,223
  3,387
  3,558
  3,739
  3,928
Total debt, $m
  2,667
  2,538
  2,773
  3,017
  3,272
  3,538
  3,815
  4,104
  4,407
  4,723
  5,053
  5,398
  5,759
  6,137
  6,533
  6,947
  7,381
  7,835
  8,311
  8,810
  9,333
  9,881
  10,455
  11,058
  11,690
  12,353
  13,048
  13,778
  14,543
  15,346
  16,189
Total liabilities, $m
  4,017
  3,857
  4,092
  4,336
  4,591
  4,857
  5,134
  5,423
  5,726
  6,042
  6,372
  6,717
  7,078
  7,456
  7,852
  8,266
  8,700
  9,154
  9,630
  10,129
  10,652
  11,200
  11,774
  12,377
  13,009
  13,672
  14,367
  15,097
  15,862
  16,665
  17,508
Total equity, $m
  1,760
  1,545
  1,639
  1,737
  1,839
  1,945
  2,056
  2,172
  2,294
  2,420
  2,552
  2,691
  2,835
  2,987
  3,145
  3,311
  3,485
  3,667
  3,857
  4,057
  4,267
  4,486
  4,716
  4,958
  5,211
  5,476
  5,755
  6,047
  6,354
  6,675
  7,013
Total liabilities and equity, $m
  5,777
  5,402
  5,731
  6,073
  6,430
  6,802
  7,190
  7,595
  8,020
  8,462
  8,924
  9,408
  9,913
  10,443
  10,997
  11,577
  12,185
  12,821
  13,487
  14,186
  14,919
  15,686
  16,490
  17,335
  18,220
  19,148
  20,122
  21,144
  22,216
  23,340
  24,521
Debt-to-equity ratio
  1.515
  1.640
  1.690
  1.740
  1.780
  1.820
  1.860
  1.890
  1.920
  1.950
  1.980
  2.010
  2.030
  2.050
  2.080
  2.100
  2.120
  2.140
  2.150
  2.170
  2.190
  2.200
  2.220
  2.230
  2.240
  2.260
  2.270
  2.280
  2.290
  2.300
  2.310
Adjusted equity ratio
  0.275
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286
  0.286

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  450
  577
  720
  870
  1,027
  1,193
  1,367
  1,551
  1,744
  1,948
  2,163
  2,429
  2,668
  2,920
  3,186
  3,467
  3,763
  4,076
  4,406
  4,754
  5,122
  5,510
  5,921
  6,353
  6,810
  7,293
  7,802
  8,340
  8,907
  9,506
  10,137
Depreciation, amort., depletion, $m
  358
  383
  403
  424
  446
  468
  492
  517
  542
  569
  597
  572
  603
  635
  669
  704
  741
  780
  821
  863
  908
  954
  1,003
  1,055
  1,109
  1,165
  1,224
  1,287
  1,352
  1,420
  1,492
Funds from operations, $m
  800
  961
  1,123
  1,294
  1,473
  1,661
  1,859
  2,067
  2,286
  2,517
  2,760
  3,001
  3,271
  3,555
  3,855
  4,171
  4,504
  4,856
  5,226
  5,617
  6,030
  6,465
  6,924
  7,408
  7,919
  8,458
  9,027
  9,626
  10,259
  10,926
  11,629
Change in working capital, $m
  -1
  51
  53
  55
  57
  60
  62
  65
  68
  71
  74
  77
  81
  85
  89
  93
  97
  102
  107
  112
  117
  123
  129
  135
  142
  149
  156
  164
  172
  180
  189
Cash from operations, $m
  801
  886
  1,070
  1,239
  1,416
  1,601
  1,797
  2,002
  2,219
  2,446
  2,686
  2,924
  3,190
  3,471
  3,766
  4,078
  4,407
  4,754
  5,120
  5,505
  5,913
  6,342
  6,795
  7,273
  7,777
  8,309
  8,871
  9,463
  10,087
  10,746
  11,440
Maintenance CAPEX, $m
  0
  -310
  -329
  -349
  -370
  -391
  -414
  -438
  -462
  -488
  -515
  -543
  -572
  -603
  -635
  -669
  -704
  -741
  -780
  -821
  -863
  -908
  -954
  -1,003
  -1,055
  -1,109
  -1,165
  -1,224
  -1,287
  -1,352
  -1,420
New CAPEX, $m
  -285
  -193
  -202
  -210
  -219
  -229
  -239
  -249
  -260
  -272
  -284
  -297
  -311
  -325
  -340
  -356
  -373
  -391
  -410
  -429
  -450
  -472
  -495
  -519
  -544
  -571
  -599
  -628
  -659
  -691
  -725
Cash from investing activities, $m
  -770
  -503
  -531
  -559
  -589
  -620
  -653
  -687
  -722
  -760
  -799
  -840
  -883
  -928
  -975
  -1,025
  -1,077
  -1,132
  -1,190
  -1,250
  -1,313
  -1,380
  -1,449
  -1,522
  -1,599
  -1,680
  -1,764
  -1,852
  -1,946
  -2,043
  -2,145
Free cash flow, $m
  31
  383
  540
  680
  827
  982
  1,144
  1,316
  1,496
  1,686
  1,887
  2,084
  2,307
  2,542
  2,790
  3,052
  3,329
  3,621
  3,930
  4,255
  4,599
  4,962
  5,346
  5,751
  6,179
  6,630
  7,107
  7,610
  8,142
  8,703
  9,295
Issuance/(repayment) of debt, $m
  348
  226
  235
  244
  255
  266
  277
  289
  302
  316
  330
  345
  361
  378
  396
  414
  434
  454
  476
  499
  523
  548
  575
  603
  632
  663
  695
  730
  765
  803
  843
Issuance/(repurchase) of shares, $m
  -100
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  240
  226
  235
  244
  255
  266
  277
  289
  302
  316
  330
  345
  361
  378
  396
  414
  434
  454
  476
  499
  523
  548
  575
  603
  632
  663
  695
  730
  765
  803
  843
Total cash flow (excl. dividends), $m
  271
  610
  774
  924
  1,082
  1,247
  1,422
  1,605
  1,799
  2,002
  2,217
  2,429
  2,668
  2,920
  3,186
  3,467
  3,763
  4,076
  4,406
  4,754
  5,122
  5,511
  5,921
  6,354
  6,811
  7,293
  7,802
  8,340
  8,907
  9,506
  10,137
Retained Cash Flow (-), $m
  -127
  -88
  -94
  -98
  -102
  -106
  -111
  -116
  -121
  -127
  -132
  -138
  -145
  -151
  -158
  -166
  -174
  -182
  -191
  -200
  -209
  -220
  -230
  -241
  -253
  -266
  -279
  -292
  -307
  -322
  -338
Prev. year cash balance distribution, $m
 
  176
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  698
  680
  826
  980
  1,141
  1,311
  1,489
  1,677
  1,876
  2,085
  2,291
  2,523
  2,769
  3,027
  3,301
  3,589
  3,894
  4,215
  4,554
  4,913
  5,291
  5,690
  6,112
  6,557
  7,027
  7,524
  8,047
  8,600
  9,184
  9,800
Discount rate, %
 
  6.80
  7.14
  7.50
  7.87
  8.27
  8.68
  9.11
  9.57
  10.05
  10.55
  11.08
  11.63
  12.21
  12.82
  13.46
  14.14
  14.84
  15.59
  16.37
  17.18
  18.04
  18.94
  19.89
  20.89
  21.93
  23.03
  24.18
  25.39
  26.66
  27.99
PV of cash for distribution, $m
 
  653
  593
  665
  723
  767
  795
  809
  808
  792
  765
  721
  674
  619
  559
  496
  433
  370
  311
  256
  206
  162
  125
  94
  69
  49
  34
  23
  15
  10
  6
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States, Europe, Mexico, and Canada. It operates through Packaging, Paper, and Corporate and Other segments. The company offers various corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods, multi-color boxes and displays that help to merchandise the packaged product in retail locations, and honeycomb protective packaging. It also produces packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products. In addition, the company provides white papers comprising commodity and specialty papers with various features, such as colors, coatings, high brightness, and recycled content. Its white papers consist of communication papers, including cut-size office papers, and printing and converting papers; and pressure sensitive papers, such as release liners that are used to produce labels for use in consumer and commercially-packaged products. The company also produces market pulp. Packaging Corporation of America was founded in 1867 and is headquartered in Lake Forest, Illinois.

FINANCIAL RATIOS  of  Packaging of America (PKG)

Valuation Ratios
P/E Ratio 22.6
Price to Sales 1.8
Price to Book 5.8
Price to Tangible Book
Price to Cash Flow 12.7
Price to Free Cash Flow 19.7
Growth Rates
Sales Growth Rate 0.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -12.8%
Cap. Spend. - 3 Yr. Gr. Rate 3.7%
Financial Strength
Quick Ratio 9
Current Ratio 0
LT Debt to Equity 150%
Total Debt to Equity 151.5%
Interest Coverage 9
Management Effectiveness
Return On Assets 9.2%
Ret/ On Assets - 3 Yr. Avg. 8.3%
Return On Total Capital 10.7%
Ret/ On T. Cap. - 3 Yr. Avg. 10.6%
Return On Equity 26.5%
Return On Equity - 3 Yr. Avg. 27.2%
Asset Turnover 1
Profitability Ratios
Gross Margin 22.1%
Gross Margin - 3 Yr. Avg. 21.4%
EBITDA Margin 19.6%
EBITDA Margin - 3 Yr. Avg. 18.2%
Operating Margin 13.5%
Oper. Margin - 3 Yr. Avg. 12.9%
Pre-Tax Margin 11.9%
Pre-Tax Margin - 3 Yr. Avg. 11.3%
Net Profit Margin 7.8%
Net Profit Margin - 3 Yr. Avg. 7.4%
Effective Tax Rate 34.7%
Eff/ Tax Rate - 3 Yr. Avg. 35%
Payout Ratio 48%

PKG stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the PKG stock intrinsic value calculation we used $5779 million for the last fiscal year's total revenue generated by Packaging of America. The default revenue input number comes from 2016 income statement of Packaging of America. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our PKG stock valuation model: a) initial revenue growth rate of 6.2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 6.8%, whose default value for PKG is calculated based on our internal credit rating of Packaging of America, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Packaging of America.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of PKG stock the variable cost ratio is equal to 18.9%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $4004 million in the base year in the intrinsic value calculation for PKG stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.7% for Packaging of America.

Corporate tax rate of 27% is the nominal tax rate for Packaging of America. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the PKG stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for PKG are equal to 54.1%.

Life of production assets of 10.1 years is the average useful life of capital assets used in Packaging of America operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for PKG is equal to 14.1%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1633 million for Packaging of America - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 93.013 million for Packaging of America is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Packaging of America at the current share price and the inputted number of shares is $10.0 billion.


Premium access subscription - $499/yr

please register and log in before paying
RELATED COMPANIES Price Int.Val. Rating
IP International 56.44 prem.  prem.
KS KapStone Paper 20.70 prem.  prem.
WRK WestRock 56.85 prem.  prem.
UFS Domtar 36.83 prem.  prem.

COMPANY NEWS

▶ [$$] International Paper: 25% Upside and a Nice Yield   [May-27-17 01:23AM  Barrons.com]
▶ Packaging Corp. beats Street 1Q forecasts   [Apr-26-17 06:50PM  Associated Press]
▶ Riding Amazon's record run   [Apr-04-17 02:52PM  CNBC Videos]
▶ WestRock Is a Hot Stock to Buy Now   [01:50PM  TheStreet.com]
▶ Is Packaging Corp Of America (PKG) A Good Stock To Buy?   [Nov-29-16 01:36PM  at Insider Monkey]
Stock chart of PKG Financial statements of PKG Annual reports of PKG
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.