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Stocks · Materials · Pulp Mills

MERCER INTERNATIONAL INC.

MERC Clue Score30
British Columbia, Canada Fiscal year ends December CIK 0001333274
$0.24 -2.77% Close, 9 Oct 2026
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Price $0.24 −97.92% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue931.6Operating income115.1Net income34.9EPS, diluted0.54Fiscal year 2017Revenue1,169.1 +25.5%Operating income168.6Net income70.5 +101.7%EPS, diluted1.08 +100.0%Fiscal year 2018Revenue1,457.7 +24.7%Operating income267.9Net income128.6 +82.4%EPS, diluted1.96 +81.5%Fiscal year 2019Revenue1,624.4 +11.4%Operating income84.0Net income−9.6 −107.5%EPS, diluted−0.15 −107.7%Fiscal year 2020Revenue1,423.1 −12.4%Operating income63.7Net income−17.2EPS, diluted−0.26Fiscal year 2021Revenue1,803.3 +26.7%Operating income346.6Net income171.0EPS, diluted2.58Fiscal year 2022Revenue2,280.9 +26.5%Operating income392.4Net income247.0 +44.5%EPS, diluted3.71 +43.8%Fiscal year 2023Revenue1,993.8 −12.6%Operating income−188.8Net income−242.1 −198.0%EPS, diluted−3.65 −198.4%Fiscal year 2024Revenue2,043.4 +2.5%Operating income15.0Net income−85.1EPS, diluted−1.27Fiscal year 2025Revenue1,868.1 −8.6%Operating income−397.7Net income−497.9EPS, diluted−7.44
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 931.6 1,169.1 1,457.7 1,624.4 1,423.1 1,803.3 2,280.9 1,993.8 2,043.4 1,868.1
Growth +25.5% +24.7% +11.4% −12.4% +26.7% +26.5% −12.6% +2.5% −8.6%
Operating income 115.1 168.6 267.9 84.0 63.7 346.6 392.4 −188.8 15.0 −397.7
Net income 34.9 70.5 128.6 −9.6 −17.2 171.0 247.0 −242.1 −85.1 −497.9
Growth +101.7% +82.4% −107.5% +44.5% −198.0%
EPS, diluted 0.54 1.08 1.96 −0.15 −0.26 2.58 3.71 −3.65 −1.27 −7.44
Growth +100.0% +81.5% −107.7% +43.8% −198.4%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin12.4%Net margin3.8%Free cash flow margin10.5%Fiscal year 2017Operating margin14.4%Net margin6.0%Free cash flow margin7.2%Fiscal year 2018Operating margin18.4%Net margin8.8%Free cash flow margin10.3%Fiscal year 2019Operating margin5.2%Net margin−0.6%Free cash flow margin6.9%Fiscal year 2020Operating margin4.5%Net margin−1.2%Free cash flow margin−2.6%Fiscal year 2021Operating margin19.2%Net margin9.5%Free cash flow margin1.3%Fiscal year 2022Operating margin17.2%Net margin10.8%Free cash flow margin8.0%Fiscal year 2023Operating margin−9.5%Net margin−12.1%Free cash flow margin−10.3%Fiscal year 2024Operating margin0.7%Net margin−4.2%Free cash flow margin0.3%Fiscal year 2025Operating margin−21.3%Net margin−26.7%Free cash flow margin−4.3%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 12.4% 14.4% 18.4% 5.2% 4.5% 19.2% 17.2% −9.5% 0.7% −21.3%
Net margin 3.8% 6.0% 8.8% −0.6% −1.2% 9.5% 10.8% −12.1% −4.2% −26.7%
Free cash flow margin 10.5% 7.2% 10.3% 6.9% −2.6% 1.3% 8.0% −10.3% 0.3% −4.3%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow140.8Capital expenditure−42.5Free cash flow98.3Dividends paid−29.7Fiscal year 2017Operating cash flow141.9Capital expenditure−57.9Free cash flow84.0 −14.5%Dividends paid−29.9Fiscal year 2018Operating cash flow236.7Capital expenditure−87.0Free cash flow149.7 +78.1%Buybacks0.0Dividends paid−40.7Fiscal year 2019Operating cash flow244.3Capital expenditure−132.0Free cash flow112.2 −25.0%Buybacks−0.8Dividends paid−35.3Fiscal year 2020Operating cash flow41.6Capital expenditure−78.5Free cash flow−37.0 −132.9%Buybacks−0.2Dividends paid−21.9Fiscal year 2021Operating cash flow182.2Capital expenditure−159.4Free cash flow22.8Buybacks0.0Dividends paid−17.2Fiscal year 2022Operating cash flow360.7Capital expenditure−178.7Free cash flow181.9 +698.8%Dividends paid−19.8Fiscal year 2023Operating cash flow−69.0Capital expenditure−136.3Free cash flow−205.3 −212.9%Dividends paid−20.0Fiscal year 2024Operating cash flow90.2Capital expenditure−84.3Free cash flow5.9Dividends paid−20.1Fiscal year 2025Operating cash flow8.6Capital expenditure−88.6Free cash flow−80.0 −1,459.1%Dividends paid−10.0
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 140.8 141.9 236.7 244.3 41.6 182.2 360.7 −69.0 90.2 8.6
Capital expenditure −42.5 −57.9 −87.0 −132.0 −78.5 −159.4 −178.7 −136.3 −84.3 −88.6
Free cash flow 98.3 84.0 149.7 112.2 −37.0 22.8 181.9 −205.3 5.9 −80.0
Growth −14.5% +78.1% −25.0% −132.9% +698.8% −212.9% −1,459.1%
Buybacks n/a n/a 0.0 −0.8 −0.2 0.0 n/a n/a n/a n/a
Dividends paid −29.7 −29.9 −40.7 −35.3 −21.9 −17.2 −19.8 −20.0 −20.1 −10.0

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash136.6Total debt617.5Net cash (debt)−481.0Shareholders’ equity379.1Debt to equity1.63Fiscal year 2017Cash143.3Total debt663.0Net cash (debt)−519.7Shareholders’ equity550.7Debt to equity1.20Fiscal year 2018Cash240.5Total debt1,041.4Net cash (debt)−800.9Shareholders’ equity581.4Debt to equity1.79Fiscal year 2019Cash351.1Total debt1,087.9Net cash (debt)−736.8Shareholders’ equity550.4Debt to equity1.98Fiscal year 2020Cash361.1Total debt1,186.6Net cash (debt)−825.5Shareholders’ equity601.0Debt to equity1.97Fiscal year 2021Cash345.6Total debt1,237.5Net cash (debt)−891.9Shareholders’ equity694.0Debt to equity1.78Fiscal year 2022Cash354.0Total debt1,346.5Net cash (debt)−992.5Shareholders’ equity838.8Debt to equity1.61Fiscal year 2023Cash314.0Total debt1,609.4Net cash (debt)−1,295.4Shareholders’ equity635.4Debt to equity2.53Fiscal year 2024Cash184.9Total debt1,474.0Net cash (debt)−1,289.1Shareholders’ equity429.8Debt to equity3.43Fiscal year 2025Cash186.8Total debt1,605.1Net cash (debt)−1,418.3Shareholders’ equity68.1Debt to equity23.58
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 136.6 143.3 240.5 351.1 361.1 345.6 354.0 314.0 184.9 186.8
Total debt 617.5 663.0 1,041.4 1,087.9 1,186.6 1,237.5 1,346.5 1,609.4 1,474.0 1,605.1
Net cash (debt) −481.0 −519.7 −800.9 −736.8 −825.5 −891.9 −992.5 −1,295.4 −1,289.1 −1,418.3
Shareholders’ equity 379.1 550.7 581.4 550.4 601.0 694.0 838.8 635.4 429.8 68.1
Debt to equity 1.63 1.20 1.79 1.98 1.97 1.78 1.61 2.53 3.43 23.58

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
931.6 1,169.1 1,457.7 1,624.4 1,423.1 1,803.3 2,280.9 1,993.8 2,043.4 1,868.1
Growth +25.5% +24.7% +11.4% −12.4% +26.7% +26.5% −12.6% +2.5% −8.6%
44.5 49.7 61.5 74.2 66.9 78.9 105.8 123.2 116.4 114.4
115.1 168.6 267.9 84.0 63.7 346.6 392.4 −188.8 15.0 −397.7
Growth +46.4% +58.9% −68.6% −24.1% +443.8% +13.2% −148.1% −2,750.4%
59.5 103.9 177.3 9.6 −11.1 260.6 345.3 −269.8 −86.9 −511.2
24.5 33.5 48.7 19.2 6.1 89.6 98.3 −27.8 −1.8 −13.3
34.9 70.5 128.6 −9.6 −17.2 171.0 247.0 −242.1 −85.1 −497.9
Growth +101.7% +82.4% −107.5% +44.5% −198.0%
Per share
0.54 1.09 1.97 −0.15 −0.26 2.59 3.74 −3.65 −1.27 −7.44
0.54 1.08 1.96 −0.15 −0.26 2.58 3.71 −3.65 −1.27 −7.44
Growth +100.0% +81.5% −107.7% +43.8% −198.4%
64.6 64.9 65.1 65.6 65.8 65.9 66.1 66.4 66.8 66.9
65.1 65.4 65.8 65.6 65.8 66.3 66.6 66.4 66.8 66.9
Growth +0.5% +0.6% −0.3% +0.3% +0.8% +0.5% −0.3% +0.6% +0.2%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 5.6% a year over five years.
  • The diluted share count rose 1.8% in five years, which is dilution.
  • Operating margin is down 25.8 points on five years ago, at -21.3%.
  • A net loss in 5 of 10 years on file.