Manufacturing industries are crucial in demonstrating an economy's real production capacity. The sector is significant in terms of production performance, employment contribution, value added creation, and impact on national income. Strong performance in manufacturing industries plays a key role in ensuring stable economic growth for the country. The paper and paper products sector comprises companies that produce intermediate goods for printing and packaging products needed in every aspect of daily life. Paper and paper products are heavily used in sectors such as education, healthcare, industry, and communication. This study applies a ratio analysis to data obtained from the financial statements of companies operating in this sector. Data necessary for ratio analysis were obtained from the financial statements published by the companies for the years 2020-2024, and the analyses were conducted. A total of 14 companies operate in this sector. However, the company trading under the code LILAK was not included in the study as it went public in 2024. Analyses were conducted on a total of 13 companies. The analyses compared the companies' financial analysis results with the industry averages in which they operate, and some conclusions were drawn. However, these assessments are purely within the scope of academic research and do not constitute investment advice.