International Paper (IP)
Materials · $18.8B market cap · SEC CIK 0000051434
fundamentals score out of 100
Next reports on Oct 28, 2026, with analysts expecting $0.33 in earnings per share.
The case for IP
- Pays a 5.6% dividend while you wait.
The case against
- Losing money over the last year: net margin -13.0%, return on equity -22%.
- Revenue fell 18.0% year over year.
- Burned $159M of free cash in FY2025.
- Down 23.9% over the past year.
- Long-term debt of $8.8B would take 5 years of operating cash flow to repay.
- Free-cash-flow yield of -0.8% is lower than 88% of Materials companies.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Materials companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 27 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 26 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 8 |
| Momentumhow the price has behaved lately | 30 |
| Stabilityhow violently it moves, what it owes and what it pays you | 38 |
- It is losing money, so it has no P/E; that counts against value rather than being skipped.
- Each factor except momentum is half fixed thresholds, half rank among the 26 Materials companies.
Key numbers
| Price / earnings | n/a |
|---|---|
| Price / book | 1.40× |
| Price / sales | 1.0× |
| Revenue growth (YoY) | -18.0% |
| EPS growth (YoY) | — |
| Gross margin | 29% |
| Operating margin | -13% |
| Net margin | -13% |
| Return on equity | -22% |
| Debt / equity | 0.64× |
| Current ratio | 1.10 |
| Dividend yield | 5.62% |
| Beta | 0.98 |
| 52-week range | $29.26 – $50.25 |
| Position in that range | 31% of the way up |
| 3-month return | -4.0% |
| 1-year return | -23.9% |
Five years of financials, as filed
Pulled from International Paper's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $23.6B | $15.8B | $16.0B | $21.2B | $19.4B |
| Net income | -$3.5B | $557M | $288M | $1.5B | $1.8B |
| Operating cash flow | $1.7B | $1.7B | $1.8B | $2.2B | $2.0B |
| Capital expenditure | $1.9B | $921M | $1.1B | $931M | $480M |
| Total assets | $38.0B | $22.8B | $23.3B | $23.9B | $25.2B |
| Shareholder equity | $14.8B | $8.2B | $8.4B | $8.5B | $9.1B |
| Cash | $1.1B | $1.1B | $1.1B | $804M | $1.3B |
| Long-term debt | $8.8B | $5.4B | $5.5B | $4.8B | $5.4B |
| Free cash flow | -$159M | $757M | $692M | $1.2B | $1.6B |
| Net margin | -14.9% | 3.5% | 1.8% | 7.1% | 9.0% |
| Diluted shares | 506M | 354M | 349M | 367M | 392M |
Share count is up 28.9% over 4 years. Your slice has been diluted.
What International Paper says it does
DESCRIPTION OF BUSINESS International Paper Company (the "Company," "International Paper" or "IP", which may also be referred to as "we" or "us") is a global leader in sustainable packaging solutions. We produce renewable fiber-based packaging products with manufacturing operations in North America, Latin America, Europe and North Africa. We are a New York corporation, incorporated in 1941 as the successor to the New York corporation of the same name organized in 1898. In recent years, the Company has undergone significant transformation designed to simplify our operations, strengthen performance and position the business for long-term value creation. STRATEGY At International Paper, we follow the IP 80/20 performance system. The 80/20 approach is a disciplined, data-driven operating model focused on simplification, segmentation, resourcing and growth. In recent years the Company has taken actions to drive meaningful operational…
Risk factors IP lists in its 10-K
- Below are the Company’s key non‑GAAP financial measures and their definitions
- Adjusted operating earnings (loss) and adjusted operating earnings (loss) per share
- Adjusted EBITDA from continuing operations
- Operational income tax provision and operational effective income tax rate
- Below are reconciliations of the non‑GAAP financial measures noted above to their most directly
- Reconciliation of Earnings (loss) from continuing operations to Adjusted operating earnings (loss)
- (a) For the year ended December 31, 2025, this amount includes tax benefits of $271 million related to the EMEA goodwill impairment and $62
- million related to capital losses associated with the announced agreement to sell our GCF business. This amount also includes tax expense of $3
- million on the non-operating pension income and a tax benefit of $157 million associated with other special items. For the year ended December
- 31, 2024, this amount includes a tax benefit of $416 million related to internal legal entity restructuring. This amount also includes tax expense of
- $10 million on the non-operating pension income and a tax benefit of $41 million associated with other special items
- Reconciliation of Cash provided by operations to Free cash flow
- Reconciliation of Income tax provision (benefit) to Operational tax provision (benefit) and the reported
- effective income tax rate to the operational effective tax rate