PKG vs. APD

Last updated Apr 1, 2026

Compare and contrast key facts about Packaging Corporation of America (PKG) and Air Products and Chemicals, Inc. (APD).

Performance

PKG vs. APD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Packaging Corporation of America (PKG) and Air Products and Chemicals, Inc. (APD). The values are adjusted to include any dividend payments, if applicable.

PKG vs. APD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PKG Packaging Corporation of America	3.51%	-6.08%	41.70%	31.90%	-2.62%	1.55%	27.20%	38.35%	-28.85%	45.51%
APD Air Products and Chemicals, Inc.	18.46%	-12.66%	8.09%	-8.95%	3.91%	13.75%	18.82%	50.02%	0.26%	17.04%

Fundamentals

Market Cap PKG : $19.01B APD : $64.75B
EPS PKG : $8.60 APD : -$1.50
PS Ratio PKG : 2.12 APD : 5.30
PB Ratio PKG : 4.14 APD : 4.20
Total Revenue (TTM) PKG : $8.99B APD : $12.21B
Gross Profit (TTM) PKG : $1.89B APD : $3.86B
EBITDA (TTM) PKG : $1.76B APD : $1.41B

Returns By Period

In the year-to-date period, PKG achieves a 3.51% return, which is significantly lower than APD's 18.46% return. Over the past 10 years, PKG has outperformed APD with an annualized return of 16.69%, while APD has yielded a comparatively lower 9.76% annualized return.

PKG

• 1D: 1.52%
• 1M: -8.04%
• YTD: 3.51%
• 6M: -1.45%
• 1Y: 9.81%
• 3Y*: 18.36%
• 5Y*: 12.66%
• 10Y*: 16.69%

APD

• 1D: -0.37%
• 1M: 5.38%
• YTD: 18.46%
• 6M: 8.00%
• 1Y: 1.12%
• 3Y*: 2.79%
• 5Y*: 2.80%
• 10Y*: 9.76%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

PKG vs. APD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PKG

PKG Risk / Return Rank: 54
PKG Sharpe Ratio Rank: 56
PKG Sortino Ratio Rank: 49
PKG Omega Ratio Rank: 47
PKG Calmar Ratio Rank: 57
PKG Martin Ratio Rank: 60

APD

APD Risk / Return Rank: 41
APD Sharpe Ratio Rank: 43
APD Sortino Ratio Rank: 37
APD Omega Ratio Rank: 37
APD Calmar Ratio Rank: 45
APD Martin Ratio Rank: 45

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PKG vs. APD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Packaging Corporation of America (PKG) and Air Products and Chemicals, Inc. (APD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	PKG	APD	Difference
Sharpe ratio Return per unit of total volatility	0.36	0.04	+0.32
Sortino ratio Return per unit of downside risk	0.72	0.26	+0.45
Omega ratio Gain probability vs. loss probability	1.09	1.03	+0.05
Calmar ratio Return relative to maximum drawdown	0.65	0.09	+0.56
Martin ratio Return relative to average drawdown	1.73	0.21	+1.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PKG vs. APD - Sharpe Ratio Comparison

The current PKG Sharpe Ratio is 0.36, which is higher than the APD Sharpe Ratio of 0.04. The chart below compares the historical Sharpe Ratios of PKG and APD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PKG	APD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.36	0.04	+0.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	0.11	+0.40
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	0.38	+0.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.42	+0.05

Correlation

The correlation between PKG and APD is 0.47, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

PKG vs. APD - Dividend Comparison

PKG's dividend yield for the trailing twelve months is around 2.36%, less than APD's 2.46% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PKG Packaging Corporation of America	2.36%	2.42%	2.22%	3.07%	3.71%	2.94%	2.44%	2.82%	3.59%	2.09%	2.78%	3.49%
APD Air Products and Chemicals, Inc.	2.46%	2.89%	1.83%	2.56%	2.10%	1.97%	1.96%	1.97%	2.75%	2.32%	2.39%	2.49%

Drawdowns

PKG vs. APD - Drawdown Comparison

The maximum PKG drawdown since its inception was -66.88%, which is greater than APD's maximum drawdown of -60.30%. Use the drawdown chart below to compare losses from any high point for PKG and APD.

Drawdown Indicators

	PKG	APD	Difference
Max Drawdown Largest peak-to-trough decline	-66.88%	-60.30%	-6.58%
Max Drawdown (1Y) Largest decline over 1 year	-17.21%	-22.39%	+5.18%
Max Drawdown (5Y) Largest decline over 5 years	-31.78%	-31.77%	-0.01%
Max Drawdown (10Y) Largest decline over 10 years	-38.18%	-31.77%	-6.41%
Current Drawdown Current decline from peak	-13.33%	-11.78%	-1.55%
Average Drawdown Average peak-to-trough decline	-11.72%	-11.06%	-0.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.47%	9.51%	-3.04%

Volatility

PKG vs. APD - Volatility Comparison

Packaging Corporation of America (PKG) has a higher volatility of 7.89% compared to Air Products and Chemicals, Inc. (APD) at 6.75%. This indicates that PKG's price experiences larger fluctuations and is considered to be riskier than APD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PKG	APD	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.89%	6.75%	+1.14%
Volatility (6M) Calculated over the trailing 6-month period	18.66%	20.83%	-2.17%
Volatility (1Y) Calculated over the trailing 1-year period	27.50%	28.28%	-0.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.86%	25.98%	-1.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.13%	25.86%	+1.27%

Financials

PKG vs. APD - Profitability Comparison

The chart below illustrates the profitability comparison between Packaging Corporation of America and Air Products and Chemicals, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

PKG - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Packaging Corporation of America reported a gross profit of 447.50M and revenue of 2.36B. Therefore, the gross margin over that period was 18.9%.

APD - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Air Products and Chemicals, Inc. reported a gross profit of 995.00M and revenue of 3.10B. Therefore, the gross margin over that period was 32.1%.

PKG - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Packaging Corporation of America reported an operating income of 282.20M and revenue of 2.36B, resulting in an operating margin of 11.9%.

APD - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Air Products and Chemicals, Inc. reported an operating income of 734.50M and revenue of 3.10B, resulting in an operating margin of 23.7%.

PKG - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Packaging Corporation of America reported a net income of 101.10M and revenue of 2.36B, resulting in a net margin of 4.3%.

APD - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Air Products and Chemicals, Inc. reported a net income of 678.20M and revenue of 3.10B, resulting in a net margin of 21.9%.