INTERNATIONAL PAPER COMPANY vs PACKAGING CORP OF AMERICA, two Paper & Packaging stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
These two make much the same product, containerboard and boxes, but only one is currently profitable. Packaging Corp earns 16.16% on equity at an 8.04% net margin; International Paper is running a loss this cycle as restructuring charges wash through its statements, so it carries no meaningful earnings multiple. The market splits them on book value, 4.69 times for Packaging Corp against 1.39 times for International Paper, which is what a loss does to sentiment. International Paper pays the larger dividend, 4.77% against 2.07%, and carries far less debt, 0.06 against 0.86. Free cash flow still runs positive at both, 2.68% at International Paper and 3.26% at Packaging Corp. Same industry, one earning and one repairing.
Comparison updated 2026-07-11.
| Metric | IP | PKG |
|---|---|---|
| Price | $37.92 | $228.98 |
| Market cap | $20.2B | $20.4B |
| Sector | Paper & Packaging | Paper & Packaging |
| Stage | Growth | Mature |
| Implied growth (priced in) | +16.7% | +11.3% |
| P/E | — | 27.8 |
| P/B | 1.36 | 4.45 |
| P/S | 0.83 | 2.21 |
| EV/EBITDA | 7.3 | 13.2 |
| Revenue growth | +43.9% | +7.8% |
| Gross margin | — | 19.1% |
| Operating margin | — | 10.6% |
| Net margin | -13.8% | 8.0% |
| Return on equity | -22.6% | 16.2% |
| Return on assets | -9.2% | 6.9% |
| Return on invested capital | — | 9.8% |
| FCF yield | 2.7% | 3.4% |
| Dividend yield | 4.9% | 2.2% |
| Debt / equity | 0.06 | 0.86 |
| Current ratio | 1.21 | 3.07 |
| Altman Z (solvency) | 6.90 | 7.68 |
| Piotroski F (quality) | 7 / 9 | 7 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.