This is a tough sector. My analysis of the past 10 years ROA of 23 Bursa packaging companies show that most are under 10%. There is no growth trends for the panel. A comparison of Box Pack and New Toyo show both in a declining ROE trend. For details of New Toyo refer to https://www.i4value.asia/2022/03/has-new-toyo-move-beyond-being-cigar.html#more