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MARKETS / NASDAQ / MERC
NASDAQ · PULP MILLS · MID CAP

Mercer International Inc. MERC

17 fiscal years on record · USD · FY2025 reported · SEC filings only
$1.9B
▼ 8.6% YoY
$-497.9M
$-80.0M
▼ 1459.1% YoY
In brief

What this company does

Mercer International Inc. is a global forest products company. It has consolidated annual production capacity of approximately 2.1 million ADMTs of kraft pulp, 1,023 MMfbm of lumber, 210,000 m3 of CLT, 45,000 m3 of glulam, 17 million pallets, 230,000 tonnes of biofuels and 398 MW of electrical generation. As of December 31, 2025, it employed approximately 3,545 people, of whom approximately 2,310 worked at its German locations, approximately 1,070 at its Canadian locations and approximately 145 at its U.S. locations. In 2025 and 2024, no customer accounted for 10% or more of its revenues. It operates in two reportable segments: Pulp, which consists of the manufacture, sale and distribution of pulp, electricity and chemicals at its pulp mills, and Solid Wood, which consists of the manufacture, sale and distribution of lumber, manufactured products, wood pallets, electricity, biofuels and wood residuals at its sawmills and other facilities in Germany and its mass timber facilities in North America. The pulp segment operates four pulp mills, including two NBSK mills in Germany and a NBSK mill and a swing kraft mill in Western Canada that produces both NBSK and NBHK pulp. It entered the pulp business in 1994 by acquiring its Rosenthal mill and converted it to the production of kraft pulp in 1999.

Written from the business description in MERCER INTERNATIONAL INC.'s annual report to the U.S. Securities and Exchange Commission, filed 12 February 2026. Every sentence was checked against that document before publication.

Growth
USD 1.9B
Revenue, FY2025 · full 17-year series below
Revenue $B Net income $B
FY2025 · Revenue 1.9 · Net income -0.5
0.8B1.6B-0.2B-0.4B200920112013201520172019202120232025
Compound annual growth
−6.4%
+5.6%
+6.1%
−20.6%
−14.7%
−4.2%
−20.3%
−14.6%
+3.1%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +5.6% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−27 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -21.3% · Net -26.7%
5%10%15%-10%-20%200920112013201520172019202120232025
ROE
FY2025 · ROE -200.0%
20%40%-100%-200%200920112013201520172019202120232025

Each USD of equity lost 200 cents this year.

Cash & shareholders
USD 10.0M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -80.0
80M160M-80M-160M200920112013201520172019202120232025
Net buybacks $M Dividends $M
FY2025 · Dividends 10.0 · Net buybacks —
20M40M200920112013201520172019202120232025

USD 10.0M in dividends went back to shareholders in a year without profit.

Total assetsUSD 2.0B
EquityUSD 68.1M
CashUSD 186.8M
Gross debtUSD 1.6B
Net debtUSD 1.4B
Current ratio3.05×

Net debt stands at 2084% of equity.

The 17-year record
17 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative
Metric 20252024202320222021202020192018201720162015201420132012201120102009
Revenue $B1.92.02.02.31.81.41.61.51.20.91.01.21.11.11.3··
Operating income $B−0.40.0−0.20.40.30.10.10.30.20.10.20.20.00.10.2··
EBITDA $B−0.20.2−0.00.50.50.20.20.40.30.20.20.20.10.10.20.20.0
Income tax $B−0.0−0.0−0.00.10.10.00.00.00.00.00.0−0.00.00.0−0.0··
Net income $B−0.5−0.1−0.20.20.2−0.0−0.00.10.10.00.10.1−0.0−0.00.1··
Free cash flow $B−0.10.0−0.20.20.0−0.00.10.10.10.10.10.1−0.00.00.10.10.0
EPS, diluted $−7.44−1.27−3.653.712.58−0.26−0.151.961.080.541.171.81−0.47−0.281.24··
Dividend / sh $0.150.300.300.300.260.330.540.500.470.460.230.000.00····
Payout %−2−24−8810−127−366324285100−0····
ROE %−200.0−16.0−32.832.226.4−3.0−1.722.715.29.218.428.4−7.1··48.0−50.5
Shares out B0.070.070.070.070.070.070.070.070.070.060.060.060.060.060.06··

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 3 failures · 5 divergences in 70 reconciliationsAUDITED

Reconciled in 12 of 19 fiscal years. 5 of those reconciliations are divergences — the figures exist but don't fit the formula this check expects; that isn't the same as an error. 15 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente3 failures5 divergent
ActivityPulp Mills
Listed onNASDAQ
Incorporated inWashington
Fiscal year endsDecember 31
Data on record since2009

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