CLW · Clearwater Paper Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $360.30M | - | $399.00M | $391.80M | $378.20M | - | $393.30M | $586.40M | $496.20M | - |
| Cost of Revenue | $361.20M | - | $380.30M | $348.80M | $341.50M | - | $363.20M | $550.80M | $421.60M | - |
| Gross Profit | ($900.0K) | - | $18.70M | $43.00M | $36.70M | - | $30.10M | $35.60M | $74.60M | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $20.60M | - | $24.70M | $26.10M | $28.90M | - | $31.60M | $38.00M | $36.20M | - |
| Total Operating Expenses | $370.70M | - | $454.40M | $382.10M | $382.20M | - | $394.50M | $605.90M | $465.80M | - |
| D&A | $23.40M | - | - | - | $22.00M | - | - | $30.90M | $23.20M | - |
| Operating Income | ($10.40M) | - | ($55.40M) | $9.80M | ($4.00M) | - | ($1.20M) | ($19.50M) | $30.40M | - |
| Interest Expense | $4.70M | - | $4.50M | $3.90M | $3.40M | - | $13.00M | $16.10M | $6.70M | - |
| Income Tax | ($3.70M) | - | ($6.50M) | $1.90M | ($1.80M) | - | ($3.30M) | ($9.40M) | $7.00M | - |
| Net Income | ($12.80M) | - | ($53.30M) | $2.70M | ($6.30M) | - | $5.80M | ($25.80M) | $17.20M | - |
| EPS - Basic | ($0.80) | - | ($3.30) | $0.17 | ($0.38) | - | $0.35 | ($1.55) | $1.03 | - |
| EPS - Diluted | ($0.80) | - | ($3.30) | $0.17 | ($0.38) | - | $0.35 | ($1.55) | $1.02 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $36.50M | $30.70M | $34.40M | $46.70M | $44.00M | $79.60M | $35.50M | $39.60M | $55.20M | $42.00M |
| Accounts Receivable | $197.90M | $195.30M | $161.70M | $165.90M | $177.40M | $188.70M | $172.70M | $255.80M | $173.10M | $184.50M |
| Inventory | $269.70M | $281.70M | $283.20M | $283.90M | $259.30M | $258.00M | $264.60M | $420.20M | $327.80M | $319.80M |
| Accounts Payable | $125.80M | $130.90M | $145.70M | $162.90M | $151.80M | $164.60M | $172.10M | $278.80M | $182.10M | $163.90M |
| Current Assets | $522.10M | $526.00M | $487.90M | $510.10M | $499.60M | $545.40M | $731.90M | $733.90M | $576.20M | $564.10M |
| Total Assets | $1.57B | $1.59B | $1.56B | $1.64B | $1.63B | $1.68B | $2.49B | $2.48B | $1.68B | $1.67B |
| Current Liabilities | $200.40M | $216.20M | $232.40M | $259.10M | $300.20M | $320.40M | $412.10M | $423.30M | $301.40M | $286.00M |
| Long-term Debt | $360.50M | $345.50M | $335.50M | $328.50M | $281.60M | $281.60M | $1.14B | $1.14B | $442.30M | $462.30M |
| Total Liabilities | $756.00M | $763.00M | $778.50M | $804.00M | $797.30M | $824.70M | $1.82B | $1.82B | $995.20M | $1.00B |
| Stockholders' Equity | $813.80M | $825.30M | $783.00M | $836.70M | $836.60M | $854.60M | $664.60M | $658.60M | $684.50M | $668.80M |
| Retained Earnings | $849.40M | $862.30M | $823.90M | $877.30M | $874.50M | $880.80M | $681.70M | $675.80M | $701.70M | $684.50M |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $500.0K | - | - | - | $1.50M | - | - | $21.10M | $59.20M | - |
| Investing Cash Flow | ($9.10M) | - | - | - | ($32.70M) | - | - | ($726.30M) | ($18.50M) | - |
| Financing Cash Flow | $14.30M | - | - | - | ($4.40M) | - | - | $689.60M | ($27.60M) | - |
| CapEx | $9.10M | - | - | - | $32.70M | - | - | $18.10M | $18.50M | - |
| Free Cash Flow | ($8.60M) | - | - | - | ($31.20M) | - | - | $3.00M | $40.70M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | -0.2% | - | 4.7% | 11.0% | 9.7% | - | 7.7% | 6.1% | 15.0% | - |
| Operating margin | -2.9% | - | -13.9% | 2.5% | -1.1% | - | -0.3% | -3.3% | 6.1% | - |
| EBITDA margin | 3.6% | - | - | - | 4.8% | - | - | 1.9% | 10.8% | - |
| Net margin | -3.6% | - | -13.4% | 0.7% | -1.7% | - | 1.5% | -4.4% | 3.5% | - |
| Free cash flow margin | -2.4% | - | - | - | -8.2% | - | - | 0.5% | 8.2% | - |
| FCF / Net income | 0.67 | - | - | - | 4.95 | - | - | -0.12 | 2.37 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 5.7% | - | 6.2% | 6.7% | 7.6% | - | 8.0% | 6.5% | 7.3% | - |
| Effective tax rate | - | - | - | 41.3% | - | - | -132.0% | - | 28.9% | - |
| Return on assets | -0.8% | - | -3.4% | 0.2% | -0.4% | - | 0.2% | -1.0% | 1.0% | - |
| Return on equity | -1.6% | - | -6.8% | 0.3% | -0.8% | - | 0.9% | -3.9% | 2.5% | - |
| Return on invested capital | -0.7% | - | -3.9% | 0.5% | -0.3% | - | -0.1% | -0.9% | 1.9% | - |
| Liquidity | ||||||||||
| Current ratio | 2.61 | 2.43 | 2.10 | 1.97 | 1.66 | 1.70 | 1.78 | 1.73 | 1.91 | 1.97 |
| Quick ratio | 1.26 | 1.13 | 0.88 | 0.87 | 0.80 | 0.90 | 1.13 | 0.74 | 0.82 | 0.85 |
| Cash ratio | 0.18 | 0.14 | 0.15 | 0.18 | 0.15 | 0.25 | 0.09 | 0.09 | 0.18 | 0.15 |
| Leverage | ||||||||||
| Debt / Equity | 0.44 | 0.42 | 0.43 | 0.39 | 0.34 | 0.33 | 1.72 | 1.73 | 0.65 | 0.69 |
| Debt / Assets | 0.23 | 0.22 | 0.21 | 0.20 | 0.17 | 0.17 | 0.46 | 0.46 | 0.26 | 0.28 |
| Debt / EBITDA | 27.73 | - | - | - | 15.64 | - | - | 99.82 | 8.25 | - |
| Interest coverage | -2.2x | - | -12.3x | 2.5x | -1.2x | - | -0.1x | -1.2x | 4.5x | - |
| Equity multiplier | 1.93 | 1.92 | 1.99 | 1.96 | 1.95 | 1.96 | 3.74 | 3.76 | 2.45 | 2.50 |
| Liabilities / Assets | 0.48 | 0.48 | 0.50 | 0.49 | 0.49 | 0.49 | 0.73 | 0.73 | 0.59 | 0.60 |
| Efficiency | ||||||||||
| Asset turnover | 0.23 | - | 0.26 | 0.24 | 0.23 | - | 0.16 | 0.24 | 0.30 | - |
| Inventory turnover | 1.34 | - | 1.34 | 1.23 | 1.32 | - | 1.37 | 1.31 | 1.29 | - |
| Days sales outstanding | 200d | - | 148d | 155d | 171d | - | 160d | 159d | 127d | - |
| Days inventory outstanding | 273d | - | 272d | 297d | 277d | - | 266d | 278d | 284d | - |
| Days payable outstanding | 127d | - | 140d | 170d | 162d | - | 173d | 185d | 158d | - |
| Cash conversion cycle | 346d | - | 280d | 281d | 286d | - | 253d | 253d | 253d | - |
| Valuation | ||||||||||
| P / E | - | - | - | 160.2x | - | - | 81.5x | - | 42.9x | - |
| P / B | 0.3x | - | - | 0.5x | - | - | 0.7x | 1.2x | 1.1x | - |
| P / S | 0.7x | - | - | 1.1x | - | - | 1.2x | 1.4x | 1.5x | - |
| EV / EBITDA | 43.0x | - | - | - | - | - | - | 167.2x | 21.0x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -4.7% | - | 1.4% | -33.2% | -23.8% | - | -24.4% | 11.8% | -5.6% | - |
| Revenue CAGR (3y) | -11.8% | - | -9.5% | -9.4% | -8.2% | - | -4.4% | - | 6.9% | - |
| Revenue CAGR (5y) | -2.4% | - | -2.7% | -4.0% | -4.6% | - | -1.6% | 5.3% | 3.0% | - |
| Gross profit growth (YoY) | - | - | -37.9% | 20.8% | -50.8% | - | -67.5% | -58.6% | -3.0% | - |
| Operating income growth (YoY) | -160.0% | - | -4516.7% | - | - | - | - | - | -23.6% | - |
| Net income growth (YoY) | -103.2% | - | - | - | - | - | -84.2% | - | -27.7% | - |
| EPS growth (YoY) | -110.5% | - | - | - | - | - | -83.9% | - | -27.1% | - |
| EPS CAGR (3y) | - | - | - | -41.7% | - | - | 47.1% | - | - | - |
| EPS CAGR (5y) | - | - | - | -34.0% | - | - | - | - | 34.7% | - |
| FCF growth (YoY) | 72.4% | - | - | - | - | - | - | -91.0% | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -2.7% | -3.4% | 17.8% | 27.0% | 22.2% | 27.8% | 2.5% | 7.2% | 15.6% | 16.9% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$1.56B totalFoodservice$664.60M · 42.7%
Folding Carton$578.90M · 37.2%
Other$161.50M · 10.4%
Sheeting And Distribution$150.40M · 9.7%
Geographic
$1.56B totalUS$1.42B · 91.2%
Non Us$137.20M · 8.8%