MERCER INTERNATIONAL INC. MERC
•references to "we", "our", "us", the "Company" or "Mercer" mean Mercer International Inc. and its subsidiaries, unless the context clearly suggests otherwise, and references to "Mercer Inc." mean Mercer International Inc. excluding its subsidiaries;
•references to "$" or "dollars" are to U.S. dollars, which is our reporting currency, unless otherwise stated; "€" are to euros; and "C$" are to Canadian dollars;
•our lumber metrics are converted from m3 to Mfbm using a conversion ratio of 1.6 m3 of lumber equaling one Mfbm, which is the ratio commonly used in the industry.
Due to rounding, numbers presented throughout this report may not add up precisely to totals we provide and percentages may not precisely reflect the absolute figures.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.87B | $2.04B | $1.99B | $2.28B | $1.80B | $1.42B | $1.62B | $1.46B | $1.17B | $931.6M |
| SG&A | $114.4M | $116.4M | $123.2M | $105.8M | $78.9M | $66.9M | $74.2M | $61.5M | $49.7M | $44.5M |
| Operating income | -$397.7M | $15.0M | -$188.8M | $392.4M | $346.6M | $63.7M | $84.0M | $267.9M | $168.6M | $115.1M |
| Interest expense | — | — | — | — | — | — | — | $51.5M | $54.8M | $51.6M |
| Pre-tax income | -$511.2M | -$86.9M | -$269.8M | $345.3M | $260.6M | -$11.1M | $9.6M | $177.3M | $103.9M | $59.5M |
| Income tax | $13.3M | $1.8M | $27.8M | $98.3M | $89.6M | $6.1M | $19.2M | $48.7M | $33.5M | $24.5M |
| Net income | -$497.9K | -$85.1K | -$242.1K | $247.0K | $171.0K | -$17.2M | -$9.6M | $128.6M | $70.5M | $34.9M |
| EPS, basic | -7.44 | -1.27 | -3.65 | 3.74 | 2.59 | -0.26 | -0.15 | 1.97 | 1.09 | 0.54 |
| EPS, diluted | -7.44 | -1.27 | -3.65 | 3.71 | 2.58 | -0.26 | -0.15 | 1.96 | 1.08 | 0.54 |
| Shares, diluted (wtd. avg.) | $66.9M | $66.8M | $66.4M | $66.6M | $66.3M | $65.8M | $65.6M | $65.8M | $65.4M | $65.1M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $186.8M | $184.9M | $314.0M | $354.0M | $345.6M | $361.1M | $351.1M | $240.5M | $460.7M | $140.9M |
| Receivables | $298.9M | $327.3M | $306.2M | $352.0M | $345.3M | $227.1M | $208.7M | $252.7M | $206.0M | $123.9M |
| Inventory | $359.4M | $361.7M | $414.2M | $450.5M | $356.7M | $271.7M | $272.6M | $303.8M | $176.6M | $133.5M |
| Total current assets | $865.8M | $910.0M | $1.09B | $1.18B | $1.06B | $874.9M | $844.7M | $810.7M | $852.3M | $401.9M |
| Property, plant and equipment | $1.12B | $1.25B | $1.41B | $1.34B | $1.14B | $1.11B | $1.07B | $1.03B | $844.8M | $738.3M |
| Goodwill | — | $0 | $35.4M | $30.9M | $0 | — | — | — | — | — |
| Other intangibles | $26.1M | $49.8M | $52.6M | $61.5M | $47.9M | $51.6M | $53.4M | $53.9M | $24.6M | — |
| Total assets | $2.04B | $2.26B | $2.66B | $2.73B | $2.35B | $2.13B | $2.07B | $1.98B | $1.72B | $1.16B |
| Accounts payable | $282.9M | $248.7M | $279.0M | $377.3M | $282.3M | $211.0M | $255.5M | $194.5M | $133.6M | $92.1M |
| Short-term debt | — | — | — | — | — | — | — | $0 | $295.9M | $0 |
| Total current liabilities | $283.6M | $256.5M | $286.4M | $378.1M | $283.1M | $211.8M | $256.3M | $195.4M | $430.5M | $93.2M |
| Long-term debt | $1.61B | $1.47B | $1.61B | $1.35B | $1.24B | $1.19B | $1.09B | $1.04B | $663.0M | $617.5M |
| Total liabilities | $1.97B | $1.83B | $2.03B | $1.89B | $1.66B | $1.53B | $1.52B | $1.39B | $1.17B | $779.6M |
| Retained earnings | -$277.0M | $230.9M | $336.1M | $598.1M | $370.9M | $217.1M | $256.4M | $302.0M | $206.0M | $166.1M |
| Total equity | $68.1M | $429.8M | $635.4M | $838.8M | $694.0M | $601.0M | $550.4M | $581.4M | $550.7M | $379.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $8.6M | $90.2M | -$69.0M | $360.7M | $182.2M | $41.6M | $244.3M | $236.7M | $141.9M | $140.8M |
| Depreciation and amortisation | $160.0M | $170.8M | $172.5M | $144.2M | $132.2M | $128.9M | $126.4M | $96.7M | $85.3M | $72.0M |
| Stock-based compensation | $2.3M | $3.9M | $5.9M | $6.7M | $2.4M | $928.0K | $3.0M | $3.9M | $2.9M | $4.7M |
| Capital expenditure | $88.6M | $84.3M | $136.3M | $178.7M | $159.4M | $78.5M | $132.0M | $87.0M | $57.9M | $42.5M |
| Investing cash flow | -$81.3M | -$67.0M | -$199.9M | -$424.6M | -$177.8M | -$59.8M | -$139.4M | -$467.5M | -$121.6M | -$44.3M |
| Financing cash flow | $79.8M | -$152.8M | $228.6M | $80.9M | -$18.8M | $26.3M | $6.1M | $14.9M | $288.8M | -$62.4M |
| Dividends paid | $10.0M | $20.1M | $19.9M | $19.8M | $17.2M | $21.9M | $35.3M | $40.7M | $29.9M | $29.7M |
| Buybacks | — | — | — | — | $0 | $162.0K | $754.0K | $0 | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-166737.
Others in SIC 2611
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| RYAM | RAYONIER ADVANCED MATERIALS INC. | $575.0M | — | -10.1% |