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.

Price · MERC

1Y 3Y 5Y Max

Annual Quarterly

Income Statement

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$1.87B	$2.04B	$1.99B	$2.28B	$1.80B	$1.42B
Cost of Revenue	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-
R&D	-	-	-	-	-	-
SG&A	$114.44M	$116.43M	$123.18M	$105.83M	$78.93M	$66.87M
Total Operating Expenses	-	-	-	-	-	-
D&A	$160.05M	$170.79M	$172.50M	$144.15M	$132.20M	$128.92M
Operating Income	($397.75M)	$15.01M	($188.77M)	$392.37M	$346.58M	$63.73M
Interest Expense	$114.83M	$109.15M	$88.25M	$71.50M	$70.05M	$80.75M
Income Tax	($13.32M)	($1.77M)	($27.77M)	$98.26M	$89.58M	$6.10M
Net Income	($497.89M)	($85.14M)	($242.06M)	$247.04M	$170.99M	($17.23M)
EPS - Basic	($7.44)	($1.27)	($3.65)	$3.74	$2.59	($0.26)
EPS - Diluted	($7.44)	($1.27)	($3.65)	$3.71	$2.58	($0.26)

Balance Sheet

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Cash & Equivalents	$186.81M	$184.93M	$313.99M	$354.03M	$345.61M	$361.10M
Accounts Receivable	$298.89M	$327.35M	$306.17M	$351.99M	$345.35M	$227.06M
Inventory	$359.40M	$361.68M	$414.16M	$450.47M	$356.73M	$271.70M
Accounts Payable	$72.05M	$53.61M	$61.10M	$92.85M	$58.45M	$42.73M
Current Assets	$865.80M	$910.00M	$1.09B	$1.18B	$1.06B	$874.85M
Total Assets	$2.04B	$2.26B	$2.66B	$2.73B	$2.35B	$2.13B
Current Liabilities	$283.63M	$256.54M	$286.44M	$378.06M	$283.12M	$211.80M
Long-term Debt	$1.61B	$1.47B	$1.61B	$1.35B	$1.24B	$1.15B
Total Liabilities	$1.97B	$1.83B	$2.03B	$1.89B	$1.66B	$1.53B
Stockholders' Equity	$68.06M	$429.77M	$635.41M	$838.78M	$694.02M	$601.03M
Retained Earnings	($277.02M)	$230.91M	$336.11M	$598.12M	$370.93M	$217.11M

Cash Flow

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Operating Cash Flow	$8.59M	$90.20M	($69.00M)	$360.66M	$182.21M	$41.56M
Investing Cash Flow	($81.33M)	($66.99M)	($199.87M)	($425.68M)	($187.13M)	($59.83M)
Financing Cash Flow	$79.81M	($152.78M)	$228.62M	$81.97M	($9.50M)	$26.32M
CapEx	$88.58M	$84.32M	$136.32M	$178.74M	$159.44M	$78.52M
Free Cash Flow	($80.00M)	$5.89M	($205.33M)	$181.92M	$22.77M	($36.95M)

Ratios

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Profitability
Gross margin	-	-	-	-	-	-
Operating margin	-21.3%	0.7%	-9.5%	17.2%	19.2%	4.5%
EBITDA margin	-12.7%	9.1%	-0.8%	23.5%	26.6%	13.5%
Net margin	-26.7%	-4.2%	-12.1%	10.8%	9.5%	-1.2%
Free cash flow margin	-4.3%	0.3%	-10.3%	8.0%	1.3%	-2.6%
FCF / Net income	0.16	-0.07	0.85	0.74	0.13	2.14
R&D / Revenue	-	-	-	-	-	-
SG&A / Revenue	6.1%	5.7%	6.2%	4.6%	4.4%	4.7%
Effective tax rate	-	-	-	28.5%	34.4%	-
Return on assets	-24.4%	-3.8%	-9.1%	9.1%	7.3%	-0.8%
Return on equity	-731.5%	-19.8%	-38.1%	29.5%	24.6%	-2.9%
Return on invested capital	-18.8%	0.6%	-6.6%	12.8%	11.8%	2.9%
Liquidity
Current ratio	3.05	3.55	3.82	3.12	3.76	4.13
Quick ratio	1.79	2.14	2.37	1.92	2.50	2.85
Cash ratio	0.66	0.72	1.10	0.94	1.22	1.70
Leverage
Debt / Equity	23.58	3.43	2.53	1.61	1.78	1.91
Debt / Assets	0.79	0.65	0.60	0.49	0.53	0.54
Debt / EBITDA	-	7.93	-	2.51	2.58	5.94
Interest coverage	-3.5x	0.1x	-2.1x	5.5x	4.9x	0.8x
Equity multiplier	29.99	5.27	4.19	3.25	3.39	3.54
Liabilities / Assets	0.97	0.81	0.76	0.69	0.70	0.72
Efficiency
Asset turnover	0.92	0.90	0.75	0.84	0.77	0.67
Inventory turnover	-	-	-	-	-	-
Days sales outstanding	58d	58d	56d	56d	70d	58d
Days inventory outstanding	-	-	-	-	-	-
Days payable outstanding	-	-	-	-	-	-
Cash conversion cycle	-	-	-	-	-	-
Valuation
P / E	-	-	-	3.1x	4.6x	-
P / B	1.9x	1.0x	1.0x	0.9x	1.1x	1.1x
P / S	0.1x	0.2x	0.3x	0.3x	0.4x	0.5x
EV / EBITDA	-	9.3x	-	3.3x	3.5x	7.6x
Growth
Revenue growth (YoY)	-8.6%	2.5%	-12.6%	26.5%	26.7%	-12.4%
Revenue CAGR (3y)	-6.4%	4.3%	11.9%	12.0%	24.6%	6.8%
Revenue CAGR (5y)	5.6%	4.7%	16.4%	14.3%	14.1%	6.6%
Gross profit growth (YoY)	-	-	-	-	-	-
Operating income growth (YoY)	-	-	-	13.2%	443.8%	-24.1%
Net income growth (YoY)	-484.8%	64.8%	-	44.5%	-	-78.8%
EPS growth (YoY)	-485.8%	65.2%	-	43.8%	-	-73.3%
EPS CAGR (3y)	-	-	-	-	9.6%	-
EPS CAGR (5y)	-	-	-	28.0%	36.7%	-
FCF growth (YoY)	-	-	-	698.8%	-	-
FCF CAGR (5y)	-	-44.5%	-	16.7%	-25.4%	-
Book value growth (YoY)	-84.2%	-32.4%	-24.2%	20.9%	15.5%	9.2%

Sales by segment

From XBRL dimensional facts in the 10-K period ending 2025-12-31.

Business segments

$1.85B total

Market Pulp$1.39B · 74.8%

Solid Wood$467.44M · 25.2%

Product / service

$1.84B total

Pulp$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 total

Foreign 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%

Stability scores

Altman Z′

FY 2025 · bankruptcy risk

0.41

Distress

Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.

Piotroski F-score

FY 2025 · 9-point quality

4/9

Neutral

✗Net income positive
✓Operating cash flow positive
✗ROA improved YoY
✓Cash flow > net income
✗Long-term debt decreased
✗Current ratio improved
✓No share dilution
-Gross margin improved
✓Asset turnover improved

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