NASDAQ : MERC
Mercer International Inc. — Financial statements
Materials · Paper & Paper Products · Canada
Last price 0.12 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 8.04M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Mercer International Inc. (MERC) reported revenue of 1.86B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.86B | 1.87B | 2.04B | 1.99B | 2.28B | 1.80B |
| Cost of Revenue | 1.80B | 1.78B | 1.68B | 1.85B | 1.64B | 1.25B |
| Gross Profit | 52.72M | 92.13M | 359.90M | 140.36M | 642.26M | 557.63M |
| Selling, General & Admin | 111.84M | 112.33M | 114.83M | 123.18M | 105.83M | 78.93M |
| Operating Expenses | 272.43M | 272.09M | 285.38M | 295.40M | 249.90M | 211.05M |
| Operating Income | -219.71M | -179.96M | 74.53M | -155.04M | 392.37M | 346.58M |
| Interest Expense | -118.29M | -114.83M | -109.15M | -88.25M | -71.50M | -70.05M |
| Interest & Investment Income | 828.00K | 5.63M | 7.20M | 6.46M | 1.73M | |
| Currency Exchange Gain (Loss) | 2.35M | 17.98M | 12.67M | |||
| Other Non Operating Income (Expenses) | -734.00K | -734.00K | ||||
| EBT Excluding Unusual Items | -335.55M | -295.53M | -28.99M | -236.09M | 345.30M | 290.94M |
| Impairment of Goodwill | -34.28M | |||||
| Gain (Loss) on Sale of Investments | -23.64M | |||||
| Gain (Loss) on Sale of Assets | -33.73M | |||||
| Asset Writedown | -215.68M | -215.68M | ||||
| Other Unusual Items | -30.37M | |||||
| Pretax Income | -551.23M | -511.21M | -86.92M | -269.82M | 345.30M | 260.57M |
| Income Tax Expense | -33.78M | -13.32M | -1.77M | -27.77M | 98.26M | 89.58M |
| Net Income | -517.45M | -497.89M | -85.14M | -242.06M | 247.04M | 170.99M |
| Net Income to Common | -517.45M | -497.89M | -85.14M | -242.06M | 247.04M | 170.99M |
| Shares Outstanding (Basic) | 66.98M | 66.93M | 66.82M | 66.41M | 66.10M | 65.94M |
| Shares Outstanding (Diluted) | 66.98M | 66.93M | 66.82M | 66.41M | 66.60M | 66.28M |
| EPS (Basic) | -7.73 | -7.44 | -1.27 | -3.65 | 3.74 | 2.59 |
| EPS (Diluted) | -7.73 | -7.44 | -1.27 | -3.65 | 3.71 | 2.58 |
| Free Cash Flow | -154.18M | -80.00M | 5.89M | -205.33M | 181.92M | 22.77M |
| Free Cash Flow Per Share | -2.30 | -1.20 | 0.09 | -3.09 | 2.73 | 0.34 |
| Dividend Per Share | 0.15 | 0.30 | 0.30 | 0.30 | 0.26 | |
| Gross Margin | 2.84% | 4.93% | 17.61% | 7.04% | 28.16% | 30.92% |
| Operating Margin | -11.83% | -9.63% | 3.65% | -7.78% | 17.20% | 19.22% |
| Profit Margin | -27.86% | -26.65% | -4.17% | -12.14% | 10.83% | 9.48% |
| Free Cash Flow Margin | -8.30% | -4.28% | 0.29% | -10.30% | 7.98% | 1.26% |
| EBITDA | -58.81M | -19.91M | 245.32M | 17.46M | 536.52M | 478.78M |
| EBITDA Margin | -3.17% | -1.07% | 12.01% | 0.88% | 23.52% | 26.55% |
| D&A For EBITDA | 160.89M | 160.05M | 170.79M | 172.50M | 144.15M | 132.20M |
| EBIT | -219.71M | -179.96M | 74.53M | -155.04M | 392.37M | 346.58M |
| EBIT Margin | -11.83% | -9.63% | 3.65% | -7.78% | 17.20% | 19.22% |
| Effective Tax Rate | 28.46% | 34.38% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 78.78M | 186.81M | 184.93M | 313.99M | 354.03M | 345.61M |
| Cash & Short-Term Investments | 78.78M | 186.81M | 184.93M | 313.99M | 354.03M | 345.61M |
| Accounts Receivable | 308.55M | 270.50M | 309.50M | 281.25M | 296.19M | 293.50M |
| Other Receivables | 28.39M | 17.84M | 24.92M | 55.80M | 51.85M | |
| Receivables | 308.55M | 298.89M | 327.35M | 306.17M | 351.99M | 345.35M |
| Inventory | 375.30M | 359.40M | 361.68M | 414.16M | 450.47M | 356.73M |
| Prepaid Expenses | 15.72M | 20.71M | 17.60M | 23.46M | 21.68M | 16.62M |
| Restricted Cash | 5.00M | |||||
| Other Current Assets | 18.45M | 35.12M | ||||
| Total Current Assets | 783.35M | 865.80M | 910.00M | 1.09B | 1.18B | 1.06B |
| Property, Plant & Equipment | 1.03B | 1.12B | 1.26B | 1.42B | 1.36B | 1.15B |
| Long-Term Investments | 41.66M | 45.63M | 49.65M | |||
| Goodwill | 35.38M | 30.94M | ||||
| Other Intangible Assets | 24.34M | 26.11M | 49.83M | 52.64M | 61.50M | 47.90M |
| Long-Term Deferred Tax Assets | 4.93M | 7.84M | 17.78M | 661.00K | 1.18M | |
| Other Long-Term Assets | 23.13M | 19.36M | 23.01M | 17.66M | 52.42M | 42.85M |
| Total Assets | 1.87B | 2.04B | 2.26B | 2.66B | 2.73B | 2.35B |
| Accounts Payable | 74.40M | 72.05M | 53.61M | 61.10M | 92.85M | 58.45M |
| Accrued Expenses | 162.64M | 155.14M | 138.22M | 157.01M | 167.46M | 143.69M |
| Current Portion of Long-Term Debt | 315.66M | |||||
| Current Portion of Leases | 16.73M | 16.76M | 12.29M | 11.71M | 12.62M | 11.66M |
| Current Income Taxes Payable | 10.54M | 11.10M | 30.46M | 21.81M | 99.83M | 56.24M |
| Current Unearned Revenue | 8.22M | 16.43M | 4.34M | 15.26M | 7.30M | |
| Other Current Liabilities | 12.69M | 12.15M | 17.61M | 19.55M | 5.31M | 5.78M |
| Total Current Liabilities | 600.88M | 283.63M | 256.54M | 286.44M | 378.06M | 283.12M |
| Long-Term Debt | 1.27B | 1.56B | 1.44B | 1.57B | 1.30B | 1.18B |
| Long-Term Leases | 39.39M | 45.07M | 43.59M | 48.44M | 53.24M | 62.15M |
| Pension & Post-Retirement Benefits | 10.79M | 10.39M | 11.13M | 12.48M | 12.18M | 21.25M |
| Long-Term Deferred Tax Liabilities | 33.08M | 58.30M | 74.77M | 97.32M | 125.96M | 95.12M |
| Other Long-Term Liabilities | 14.38M | 12.04M | 11.93M | 13.74M | 14.07M | 13.59M |
| Total Liabilities | 1.97B | 1.97B | 1.83B | 2.03B | 1.89B | 1.66B |
| Common Stock | 67.08M | 66.87M | 66.85M | 66.47M | 66.13M | 65.99M |
| Additional Paid-In Capital | 365.07M | 365.36M | 362.78M | 359.50M | 354.50M | 347.90M |
| Retained Earnings | -404.99M | -277.02M | 230.91M | 336.11M | 598.12M | 370.93M |
| Comprehensive Income & Other | -125.13M | -87.15M | -230.77M | -126.67M | -179.96M | -90.79M |
| Shareholders' Equity | -97.97M | 68.06M | 429.77M | 635.41M | 838.78M | 694.02M |
| Total Liabilities & Equity | 1.87B | 2.04B | 2.26B | 2.66B | 2.73B | 2.35B |
| Total Debt | 1.64B | 1.63B | 1.49B | 1.63B | 1.37B | 1.26B |
| Net Cash (Debt) | -1.56B | -1.44B | -1.31B | -1.31B | -1.01B | -910.17M |
| Net Cash Per Share | -23.32 | -21.50 | -19.55 | -19.80 | -15.23 | -13.73 |
| Filing Date Shares Outstanding | 66.99M | 66.87M | 66.85M | 66.47M | 66.13M | 65.99M |
| Total Common Shares Outstanding | 66.99M | 66.87M | 66.85M | 66.47M | 66.13M | 65.99M |
| Working Capital | 182.47M | 582.18M | 653.47M | 806.47M | 800.11M | 781.18M |
| Book Value Per Share | -1.46 | 1.02 | 6.43 | 9.56 | 12.68 | 10.52 |
| Tangible Book Value | -122.31M | 41.95M | 379.95M | 547.39M | 746.35M | 646.12M |
| Tangible Book Value Per Share | -1.83 | 0.63 | 5.68 | 8.24 | 11.29 | 9.79 |
| Land | 88.25M | 82.02M | 86.69M | 90.20M | 61.07M | |
| Buildings | 419.51M | 386.56M | 402.27M | 354.05M | 309.04M | |
| Machinery | 2.66B | 2.36B | 2.45B | 2.24B | 2.08B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -517.45M | -497.89M | -85.14M | -242.06M | 247.04M | 170.99M |
| Depreciation & Amortization | 160.89M | 160.05M | 170.79M | 172.50M | 144.15M | 132.20M |
| Loss (Gain) From Sale of Assets | 33.73M | |||||
| Asset Writedown & Restructuring Costs | 215.68M | 215.68M | 34.28M | |||
| Loss (Gain) From Sale of Investments | 23.64M | |||||
| Stock-Based Compensation | 174.00K | 2.29M | 3.86M | 5.92M | 6.74M | 2.39M |
| Other Operating Activities | 74.24M | 70.30M | -32.35M | 25.08M | -12.27M | 31.52M |
| Change in Accounts Receivable | 24.35M | 52.59M | -32.09M | 52.51M | -20.48M | -121.58M |
| Change in Inventory | -57.13M | 526.00K | 23.91M | -15.84M | -63.18M | -96.44M |
| Change in Accounts Payable | 3.35M | 7.16M | -17.68M | -98.18M | 66.80M | 75.59M |
| Change in Other Net Operating Assets | 11.22M | -2.11M | 986.00K | -2.68M | -8.13M | -12.45M |
| Operating Cash Flow | -84.68M | 8.59M | 90.20M | -69.00M | 360.66M | 182.21M |
| Capital Expenditures | -69.50M | -88.58M | -84.32M | -136.32M | -178.74M | -159.44M |
| Sale of Property, Plant & Equipment | 6.38M | 6.38M | 19.87M | 3.41M | 1.69M | |
| Cash Acquisitions | -82.10M | -256.60M | -51.26M | |||
| Investment in Securities | 519.00K | |||||
| Other Investing Activities | 5.08M | 874.00K | -2.55M | 15.15M | 8.53M | 32.90M |
| Investing Cash Flow | -58.04M | -81.33M | -66.99M | -199.87M | -424.61M | -177.79M |
| Long-Term Debt Issued | 102.89M | 206.00M | 261.27M | 115.33M | 875.00M | |
| Long-Term Debt Repaid | -13.18M | -333.98M | -7.79M | -10.00M | -865.80M | |
| Net Debt Issued (Repaid) | 91.94M | 89.71M | -127.98M | 253.49M | 105.33M | 9.20M |
| Common Dividends Paid | -5.02M | -10.04M | -20.06M | -19.95M | -19.85M | -17.17M |
| Other Financing Activities | -5.49M | 138.00K | -4.74M | -4.91M | -4.58M | -10.87M |
| Financing Cash Flow | 81.44M | 79.81M | -152.78M | 228.62M | 80.90M | -18.84M |
| Foreign Exchange Rate Adjustments | -1.44M | -5.19M | 504.00K | 208.00K | -8.53M | -1.07M |
| Net Cash Flow | -62.72M | 1.88M | -129.07M | -40.04M | 8.42M | -15.49M |
| Free Cash Flow | -154.18M | -80.00M | 5.89M | -205.33M | 181.92M | 22.77M |
| Free Cash Flow Margin | -8.30% | -4.28% | 0.29% | -10.30% | 7.98% | 1.26% |
| Free Cash Flow Per Share | -2.30 | -1.20 | 0.09 | -3.09 | 2.73 | 0.34 |
| Levered Free Cash Flow | -52.12M | -41.80M | 92.05M | -155.43M | 161.22M | 11.40M |
| Unlevered Free Cash Flow | 21.81M | 29.97M | 160.27M | -100.28M | 205.90M | 55.18M |
| Cash Interest Paid | 108.86M | 108.05M | 105.48M | 79.62M | 67.10M | 73.09M |
| Cash Income Tax Paid | 26.02M | 22.49M | 63.55M | 86.04M | 22.95M | |
| Change in Working Capital | -18.21M | 58.16M | -24.88M | -64.19M | -25.00M | -154.89M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 8.04M | 132.40M | 434.52M | 630.14M | 769.78M | 791.20M |
| Enterprise Value | 1.57B | 1.60B | 1.81B | 1.90B | 1.77B | 1.68B |
| Last Close Price | 0.12 | 1.98 | 6.29 | 8.81 | 10.46 | 10.52 |
| PE Ratio | 3.12 | 4.63 | ||||
| Forward PE | 142.31 | 192.02 | 78.02 | 3.99 | 5.73 | |
| PS Ratio | 0.00 | 0.07 | 0.21 | 0.32 | 0.34 | 0.44 |
| PB Ratio | 1.95 | 1.01 | 0.99 | 0.92 | 1.14 | |
| P/TBV Ratio | 3.16 | 1.14 | 1.15 | 1.03 | 1.23 | |
| P/FCF Ratio | 73.82 | 4.23 | 34.74 | |||
| P/OCF Ratio | 15.42 | 4.82 | 2.13 | 4.34 | ||
| PEG Ratio | 0.82 | 0.82 | 0.82 | 0.82 | 0.82 | |
| EV/Sales Ratio | 0.85 | 0.86 | 0.89 | 0.95 | 0.77 | 0.93 |
| EV/EBITDA Ratio | 7.39 | 108.83 | 3.29 | 3.50 | ||
| EV/EBIT Ratio | 24.31 | 4.50 | 4.84 | |||
| EV/FCF Ratio | 307.83 | 9.71 | 73.65 | |||
| Debt / Equity Ratio | -16.75 | 23.89 | 3.47 | 2.56 | 1.63 | 1.81 |
| Debt / EBITDA Ratio | 5.93 | 65.41 | 2.52 | 2.60 | ||
| Debt / FCF Ratio | 253.32 | 7.52 | 55.14 | |||
| Net Debt / Equity Ratio | -15.95 | 21.14 | 3.04 | 2.07 | 1.21 | 1.31 |
| Net Debt / EBITDA Ratio | -26.57 | -72.26 | 5.32 | 75.30 | 1.89 | 1.90 |
| Net Debt / FCF Ratio | -10.13 | -17.99 | 221.91 | -6.40 | 5.58 | 39.97 |
| Asset Turnover | 0.87 | 0.87 | 0.83 | 0.74 | 0.90 | 0.81 |
| Inventory Turnover | 4.56 | 4.93 | 4.34 | 4.29 | 4.06 | 3.96 |
| Quick Ratio | 0.65 | 1.71 | 2.00 | 2.17 | 1.87 | 2.44 |
| Current Ratio | 1.30 | 3.05 | 3.55 | 3.82 | 3.12 | 3.76 |
| Return on Equity (ROE) | -296.95% | -200.02% | -15.99% | -32.84% | 32.23% | 26.41% |
| Return on Assets (ROA) | -6.46% | -5.23% | 1.89% | -3.60% | 9.66% | 9.67% |
| Return on Invested Capital (ROIC) | -15.43% | -11.10% | 4.04% | -8.15% | 16.24% | 14.92% |
| Return on Capital Employed (ROCE) | -17.30% | -10.20% | 3.70% | -6.50% | 16.70% | 16.80% |
| Earnings Yield | -6,439.17% | -376.04% | -19.59% | -38.41% | 32.09% | 21.61% |
| FCF Yield | -1,917.86% | -60.42% | 1.35% | -32.58% | 23.63% | 2.88% |
| Dividend Yield | 7.58% | 4.61% | 3.16% | 2.58% | 2.17% | |
| Payout Ratio | 8.03% | 10.04% | ||||
| Buyback Yield / Dilution | -0.11% | -0.17% | -0.62% | 0.29% | -0.48% | -0.78% |
| Total Shareholder Return | -0.11% | 7.41% | 3.99% | 3.46% | 2.10% | 1.38% |