MERC · Mercer International Inc. - 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 | $489.30M | - | $458.07M | $453.52M | $506.97M | - | $502.14M | $499.38M | $553.43M | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $28.55M | - | $28.82M | $30.43M | $29.70M | - | $29.16M | $29.79M | $31.70M | - |
| Total Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| D&A | $40.74M | - | $39.51M | $37.52M | $40.35M | - | $41.61M | $39.94M | $40.40M | - |
| Operating Income | ($32.89M) | - | ($67.59M) | ($58.40M) | $6.73M | - | $8.84M | ($43.78M) | ($448.0K) | - |
| Interest Expense | $29.10M | - | $28.51M | $28.41M | $28.16M | - | $26.43M | $26.84M | $27.56M | - |
| Income Tax | ($8.18M) | - | ($14.78M) | ($1.86M) | $732.0K | - | ($120.0K) | $1.26M | ($6.37M) | - |
| Net Income | ($52.00M) | - | ($80.78M) | ($86.07M) | ($22.34M) | - | ($17.56M) | ($67.59M) | ($16.70M) | - |
| EPS - Basic | ($0.78) | - | ($1.21) | ($1.29) | ($0.33) | - | ($0.26) | ($1.01) | ($0.25) | - |
| EPS - Diluted | ($0.78) | - | ($1.21) | ($1.29) | ($0.33) | - | ($0.26) | ($1.01) | ($0.25) | - |
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 | $84.54M | $186.81M | $98.10M | $146.50M | $181.47M | $184.93M | $239.00M | $263.17M | $274.27M | $313.99M |
| Accounts Receivable | $329.07M | $298.89M | $328.43M | $335.39M | $345.84M | $327.35M | $352.55M | $344.82M | $368.47M | $306.17M |
| Inventory | $366.02M | $359.40M | $384.66M | $415.44M | $379.63M | $361.68M | $392.14M | $399.51M | $408.33M | $414.16M |
| Accounts Payable | $72.83M | $72.05M | $62.81M | $78.74M | $70.53M | $53.61M | $57.23M | $72.10M | $63.47M | $61.10M |
| Current Assets | $834.75M | $865.80M | $867.82M | $937.60M | $969.79M | $910.00M | $1.06B | $1.07B | $1.13B | $1.09B |
| Total Assets | $1.96B | $2.04B | $2.29B | $2.38B | $2.34B | $2.26B | $2.50B | $2.48B | $2.61B | $2.66B |
| Current Liabilities | $384.78M | $283.63M | $288.15M | $302.12M | $298.38M | $256.54M | $279.44M | $308.61M | $301.54M | $286.44M |
| Long-term Debt | $1.51B | $1.61B | $1.55B | $1.53B | $1.50B | $1.47B | $1.60B | $1.57B | $1.62B | $1.61B |
| Total Liabilities | $1.97B | $1.97B | $1.93B | $1.93B | $1.90B | $1.83B | $1.99B | $2.00B | $2.03B | $2.03B |
| Stockholders' Equity | ($5.54M) | $68.06M | $359.53M | $446.49M | $437.35M | $429.77M | $516.77M | $487.67M | $573.64M | $635.41M |
| Retained Earnings | ($329.01M) | ($277.02M) | $31.68M | $112.46M | $203.56M | $230.91M | $219.22M | $241.79M | $314.40M | $336.11M |
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 | ($85.67M) | - | ($30.05M) | ($4.53M) | ($2.99M) | - | ($13.95M) | $62.19M | ($29.19M) | - |
| Investing Cash Flow | ($12.82M) | - | ($27.61M) | ($22.77M) | ($19.86M) | - | ($22.90M) | ($20.15M) | ($17.48M) | - |
| Financing Cash Flow | $1.76M | - | $10.95M | ($3.27M) | $19.25M | - | $12.73M | ($53.28M) | $6.82M | - |
| CapEx | $13.17M | - | $30.02M | $24.33M | $20.08M | - | $27.26M | $17.88M | $18.46M | - |
| Free Cash Flow | ($98.83M) | - | ($60.07M) | ($28.86M) | ($23.07M) | - | ($41.21M) | $44.30M | ($47.66M) | - |
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 | - | - | - | - | - | - | - | - | - | - |
| Operating margin | -6.7% | - | -14.8% | -12.9% | 1.3% | - | 1.8% | -8.8% | -0.1% | - |
| EBITDA margin | 1.6% | - | -6.1% | -4.6% | 9.3% | - | 10.0% | -0.8% | 7.2% | - |
| Net margin | -10.6% | - | -17.6% | -19.0% | -4.4% | - | -3.5% | -13.5% | -3.0% | - |
| Free cash flow margin | -20.2% | - | -13.1% | -6.4% | -4.6% | - | -8.2% | 8.9% | -8.6% | - |
| FCF / Net income | 1.90 | - | 0.74 | 0.34 | 1.03 | - | 2.35 | -0.66 | 2.85 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 5.8% | - | 6.3% | 6.7% | 5.9% | - | 5.8% | 6.0% | 5.7% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -2.6% | - | -3.5% | -3.6% | -1.0% | - | -0.7% | -2.7% | -0.6% | - |
| Return on equity | 938.9% | - | -22.5% | -19.3% | -5.1% | - | -3.4% | -13.9% | -2.9% | - |
| Return on invested capital | -1.7% | - | -2.8% | -2.3% | 0.3% | - | 0.3% | -1.7% | -0.0% | - |
| Liquidity | ||||||||||
| Current ratio | 2.17 | 3.05 | 3.01 | 3.10 | 3.25 | 3.55 | 3.79 | 3.46 | 3.74 | 3.82 |
| Quick ratio | 1.22 | 1.79 | 1.68 | 1.73 | 1.98 | 2.14 | 2.39 | 2.17 | 2.38 | 2.37 |
| Cash ratio | 0.22 | 0.66 | 0.34 | 0.48 | 0.61 | 0.72 | 0.86 | 0.85 | 0.91 | 1.10 |
| Leverage | ||||||||||
| Debt / Equity | -272.59 | 23.58 | 4.30 | 3.42 | 3.44 | 3.43 | 3.09 | 3.22 | 2.82 | 2.53 |
| Debt / Assets | 0.77 | 0.79 | 0.68 | 0.64 | 0.64 | 0.65 | 0.64 | 0.63 | 0.62 | 0.60 |
| Debt / EBITDA | 192.35 | - | - | - | 31.92 | - | 31.67 | - | 40.42 | - |
| Interest coverage | -1.1x | - | -2.4x | -2.1x | 0.2x | - | 0.3x | -1.6x | -0.0x | - |
| Equity multiplier | -354.61 | 29.99 | 6.37 | 5.33 | 5.34 | 5.27 | 4.84 | 5.09 | 4.54 | 4.19 |
| Liabilities / Assets | 1.00 | 0.97 | 0.84 | 0.81 | 0.81 | 0.81 | 0.79 | 0.80 | 0.78 | 0.76 |
| Efficiency | ||||||||||
| Asset turnover | 0.25 | - | 0.20 | 0.19 | 0.22 | - | 0.20 | 0.20 | 0.21 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 245d | - | 262d | 270d | 249d | - | 256d | 252d | 243d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | 0.5x | 0.5x | 0.9x | - | 0.9x | 1.2x | 1.2x | - |
| P / S | 0.2x | - | 0.4x | 0.5x | 0.8x | - | 0.9x | 1.1x | 1.2x | - |
| EV / EBITDA | 193.7x | - | - | - | 36.8x | - | 35.9x | - | 50.2x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -3.5% | - | -8.8% | -9.2% | -8.4% | - | 6.7% | -5.8% | 5.9% | - |
| Revenue CAGR (3y) | -2.2% | - | -4.9% | -7.5% | -5.1% | - | 2.2% | 7.5% | 10.3% | - |
| Revenue CAGR (5y) | 3.5% | - | 6.6% | 5.9% | 7.7% | - | 8.7% | 3.2% | 8.5% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | - | - | - | -33.4% | - | - | - | 59.8% | 97.8% | - |
| Net income growth (YoY) | -132.8% | - | -360.0% | -27.4% | -33.7% | - | 32.4% | 31.2% | 45.4% | - |
| EPS growth (YoY) | -136.4% | - | -365.4% | -27.7% | -32.0% | - | 33.3% | 31.8% | 45.7% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | -328.4% | - | -45.8% | - | 51.6% | - | 34.3% | - | 42.6% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | -7.0% | - | - |
| Book value growth (YoY) | - | -84.2% | -30.4% | -8.4% | -23.8% | -32.4% | -22.3% | -33.5% | -30.3% | -24.2% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$1.85B totalMarket Pulp$1.39B · 74.8%
Solid Wood$467.44M · 25.2%
Product / service
$1.84B totalPulp$1.30B · 71.1%
Lumber$247.57M · 13.5%
Pallets$100.12M · 5.5%
Energyandchemicals$81.86M · 4.5%
Manufactured Products$57.47M · 3.1%
Biofuels$34.45M · 1.9%
Wood Residuals$8.83M · 0.5%
Geographic
$2.63B totalForeign Countries$1.24B · 47.3%
CN$547.70M · 20.8%
Other Countries$416.58M · 15.8%
DE$280.46M · 10.7%
US$141.95M · 5.4%
Peer comparison
Same SIC group: Pulp Mills
| Company | Revenue (last FY) | Net margin | ROE |
|---|---|---|---|
| RYAM | $1.47B | -28.7% | -132.9% |
Comparing MERCER INTERNATIONAL INC. against the 1 most active filer in the same SIC group.
Dividends
$0.07/share trailing 12 months · -75.0% YoY
| Ex-date | Per share |
|---|---|
| Jun 26, 2025 | $0.0750 |
| Mar 26, 2025 | $0.0750 |
| Dec 18, 2024 | $0.0750 |
| Sep 25, 2024 | $0.0750 |
| Jun 26, 2024 | $0.0750 |
| Mar 26, 2024 | $0.0750 |
| Dec 19, 2023 | $0.0750 |
| Sep 26, 2023 | $0.0750 |
| Jun 27, 2023 | $0.0750 |
| Mar 28, 2023 | $0.0750 |
| Dec 20, 2022 | $0.0750 |
| Sep 27, 2022 | $0.0750 |
| Jun 28, 2022 | $0.0750 |
| Mar 29, 2022 | $0.0750 |
| Dec 21, 2021 | $0.0650 |
| Sep 28, 2021 | $0.0650 |
| Jun 29, 2021 | $0.0650 |
| Mar 30, 2021 | $0.0650 |
| Dec 22, 2020 | $0.0650 |
| Sep 28, 2020 | $0.0650 |
| Jun 24, 2020 | $0.0650 |
| Mar 24, 2020 | $0.1380 |
| Dec 11, 2019 | $0.1380 |
| Sep 24, 2019 | $0.1380 |