Mercer Intl Financials
This page shows Mercer Intl (MERC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Mercer Intl has an operating margin of -21.3%, meaning the company retains $-21 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from 0.7% the prior year.
Mercer Intl's revenue declined 8.6% year-over-year, from $2.0B to $1.9B. This contraction results in a growth score of 4/100.
Mercer Intl has elevated debt relative to equity (D/E of 23.58), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.
With a current ratio of 3.05, Mercer Intl holds $3.05 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
While Mercer Intl generated $8.6M in operating cash flow, capex of $88.6M consumed most of it, leaving -$80.0M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Mercer Intl earns a strong 731.5% return on equity (ROE), meaning it generates $732 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100.
Mercer Intl passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Mercer Intl generates $-0.02 in operating cash flow ($8.6M OCF vs -$497.9M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Mercer Intl earns $-3.5 in operating income for every $1 of interest expense (-$397.7M vs $114.8M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Mercer Intl generated $1.9B in revenue in fiscal year 2025. This represents a decrease of 8.6% from the prior year.
Mercer Intl's EBITDA was -$237.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 227.9% from the prior year.
Mercer Intl generated -$80.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 1459.1% from the prior year.
Mercer Intl reported -$497.9M in net income in fiscal year 2025. This represents a decrease of 484.8% from the prior year.
Mercer Intl earned $-7.44 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 485.8% from the prior year.
Mercer Intl held $186.8M in cash against $1.6B in long-term debt as of fiscal year 2025.
Mercer Intl paid $0.15 per share in dividends in fiscal year 2025. This represents a decrease of 50.0% from the prior year.
Mercer Intl had 67M shares outstanding in fiscal year 2025. This represents an increase of 0.2% from the prior year.
Mercer Intl's gross margin was 4.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 12.7 percentage points from the prior year.
Mercer Intl's operating margin was -21.3% in fiscal year 2025, reflecting core business profitability. This is down 22.0 percentage points from the prior year.
Mercer Intl's net profit margin was -26.7% in fiscal year 2025, showing the share of revenue converted to profit. This is down 22.5 percentage points from the prior year.
Mercer Intl's ROE was 731.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
Mercer Intl invested $88.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 5.1% from the prior year.
MERC Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $449.5M-1.9% | $458.1M+1.0% | $453.5M-10.5% | $507.0M+3.8% | $488.4M-2.7% | $502.1M+0.6% | $499.4M-9.8% | $553.4M |
| Cost of Revenue | $444.3M-2.9% | $457.4M+3.0% | $444.0M+3.2% | $430.2M+18.4% | $363.5M-14.0% | $422.6M-3.8% | $439.2M-4.1% | $458.2M |
| Gross Profit | $5.3M+683.0% | $671K-92.9% | $9.5M-87.6% | $76.7M-38.6% | $124.9M+57.1% | $79.5M+32.2% | $60.2M-36.8% | $95.2M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $25.5M-11.6% | $28.8M-5.3% | $30.4M+2.4% | $29.7M+15.2% | $25.8M-11.6% | $29.2M-2.1% | $29.8M-6.0% | $31.7M |
| Operating Income | -$278.5M-312.0% | -$67.6M-15.7% | -$58.4M-967.4% | $6.7M-86.6% | $50.4M+470.0% | $8.8M+120.2% | -$43.8M-9672.1% | -$448K |
| Interest Expense | $29.8M+4.4% | $28.5M+0.3% | $28.4M+0.9% | $28.2M-0.6% | $28.3M+7.2% | $26.4M-1.5% | $26.8M-2.6% | $27.6M |
| Income Tax | $2.6M+117.5% | -$14.8M-692.8% | -$1.9M-354.6% | $732K-78.8% | $3.4M+2973.3% | -$120K-109.5% | $1.3M+119.8% | -$6.4M |
| Net Income | -$308.7M-282.2% | -$80.8M+6.1% | -$86.1M-285.3% | -$22.3M-233.7% | $16.7M+195.1% | -$17.6M+74.0% | -$67.6M-304.6% | -$16.7M |
| EPS (Diluted) | $-4.61-281.0% | $-1.21+6.2% | $-1.29-290.9% | $-0.33-232.0% | $0.25+196.2% | $-0.26+74.3% | $-1.01-304.0% | $-0.25 |
MERC Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.0B-10.9% | $2.3B-3.7% | $2.4B+1.8% | $2.3B+3.2% | $2.3B-9.6% | $2.5B+0.7% | $2.5B-4.6% | $2.6B |
| Current Assets | $865.8M-0.2% | $867.8M-7.4% | $937.6M-3.3% | $969.8M+6.6% | $910.0M-14.1% | $1.1B-0.9% | $1.1B-5.2% | $1.1B |
| Cash & Equivalents | $186.8M+90.4% | $98.1M-33.0% | $146.5M-19.3% | $181.5M-1.9% | $184.9M-22.6% | $239.0M-9.2% | $263.2M-4.0% | $274.3M |
| Inventory | $359.4M-6.6% | $384.7M-7.4% | $415.4M+9.4% | $379.6M+5.0% | $361.7M-7.8% | $392.1M-1.8% | $399.5M-2.2% | $408.3M |
| Accounts Receivable | $298.9M-9.0% | $328.4M-2.1% | $335.4M-3.0% | $345.8M+5.6% | $327.3M-7.1% | $352.5M+2.2% | $344.8M-0.3% | $345.8M |
| Goodwill | N/A | N/A | N/A | N/A | $0 | $0 | $0-100.0% | $34.6M |
| Total Liabilities | $2.0B+2.2% | $1.9B0.0% | $1.9B+1.7% | $1.9B+3.6% | $1.8B-7.7% | $2.0B-0.5% | $2.0B-1.7% | $2.0B |
| Current Liabilities | $283.6M-1.6% | $288.2M-4.6% | $302.1M+1.3% | $298.4M+16.3% | $256.5M-8.2% | $279.4M-9.5% | $308.6M+2.3% | $301.5M |
| Long-Term Debt | $1.6B+3.8% | $1.5B+1.3% | $1.5B+1.6% | $1.5B+2.0% | $1.5B-7.8% | $1.6B+1.8% | $1.6B-2.9% | $1.6B |
| Total Equity | $68.1M-81.1% | $359.5M-19.5% | $446.5M+2.1% | $437.4M+1.8% | $429.8M-16.8% | $516.8M+6.0% | $487.7M-15.0% | $573.6M |
| Retained Earnings | -$277.0M-974.3% | $31.7M-71.8% | $112.5M-44.8% | $203.6M-11.8% | $230.9M+5.3% | $219.2M-9.3% | $241.8M-23.1% | $314.4M |
MERC Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $46.2M+253.6% | -$30.1M-564.0% | -$4.5M-51.4% | -$3.0M-104.2% | $71.2M+610.3% | -$13.9M-122.4% | $62.2M+313.0% | -$29.2M |
| Capital Expenditures | $14.2M-52.9% | $30.0M+23.4% | $24.3M+21.2% | $20.1M-3.0% | $20.7M-24.0% | $27.3M+52.5% | $17.9M-3.1% | $18.5M |
| Free Cash Flow | $32.0M+153.3% | -$60.1M-108.2% | -$28.9M-25.1% | -$23.1M-145.7% | $50.4M+222.4% | -$41.2M-193.0% | $44.3M+193.0% | -$47.7M |
| Investing Cash Flow | -$11.1M+59.9% | -$27.6M-21.3% | -$22.8M-14.7% | -$19.9M-207.9% | -$6.5M+71.8% | -$22.9M-13.6% | -$20.2M-15.3% | -$17.5M |
| Financing Cash Flow | $52.9M+382.7% | $11.0M+435.2% | -$3.3M-117.0% | $19.2M+116.2% | -$119.1M-1035.4% | $12.7M+123.9% | -$53.3M-881.1% | $6.8M |
| Dividends Paid | $0-100.0% | $5.0M+0.2% | $5.0M | N/A | $10.0M+100.0% | $5.0M0.0% | $5.0M | $0 |
| Share Buybacks | N/A | N/A | N/A | N/A | $0 | $0-100.0% | $754K | $0 |
MERC Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 1.2%+1.0pp | 0.1%-1.9pp | 2.1%-13.0pp | 15.1%-10.5pp | 25.6%+9.7pp | 15.8%+3.8pp | 12.0%-5.2pp | 17.2% |
| Operating Margin | -62.0%-47.2pp | -14.8%-1.9pp | -12.9%-14.2pp | 1.3%-9.0pp | 10.3%+8.6pp | 1.8%+10.5pp | -8.8%-8.7pp | -0.1% |
| Net Margin | -68.7%-51.0pp | -17.6%+1.3pp | -19.0%-14.6pp | -4.4%-7.8pp | 3.4%+6.9pp | -3.5%+10.0pp | -13.5%-10.5pp | -3.0% |
| Return on Equity | 0.7%-17.9pp | 18.6%+18.5pp | 0.1%-5.5pp | 5.7%+1.8pp | 3.9%+3.7pp | 0.2%-1.4pp | 1.6%-6.7pp | 8.3% |
| Return on Assets | -15.1%-11.6pp | -3.5%+0.1pp | -3.6%-2.7pp | -1.0%-1.7pp | 0.7%+1.4pp | -0.7%+2.0pp | -2.7%-2.1pp | -0.6% |
| Current Ratio | 3.05+0.0 | 3.01-0.1 | 3.10-0.1 | 3.25-0.3 | 3.55-0.2 | 3.79+0.3 | 3.46-0.3 | 3.74 |
| Debt-to-Equity | 23.58+19.3 | 4.30+0.9 | 3.42-0.0 | 3.440.0 | 3.43+0.3 | 3.09-0.1 | 3.22+0.4 | 2.82 |
| FCF Margin | 7.1%+20.2pp | -13.1%-6.7pp | -6.4%-1.8pp | -4.5%-14.9pp | 10.3%+18.5pp | -8.2%-17.1pp | 8.9%+17.5pp | -8.6% |
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Frequently Asked Questions
What is Mercer Intl's annual revenue?
Mercer Intl (MERC) reported $1.9B in total revenue for fiscal year 2025. This represents a -8.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Mercer Intl's revenue growing?
Mercer Intl (MERC) revenue declined by 8.6% year-over-year, from $2.0B to $1.9B in fiscal year 2025.
Is Mercer Intl profitable?
No, Mercer Intl (MERC) reported a net income of -$497.9M in fiscal year 2025, with a net profit margin of -26.7%.
What is Mercer Intl's earnings per share (EPS)?
Mercer Intl (MERC) reported diluted earnings per share of $-7.44 for fiscal year 2025. This represents a -485.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Mercer Intl's EBITDA?
Mercer Intl (MERC) had EBITDA of -$237.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Mercer Intl have?
As of fiscal year 2025, Mercer Intl (MERC) had $186.8M in cash and equivalents against $1.6B in long-term debt.
What is Mercer Intl's gross margin?
Mercer Intl (MERC) had a gross margin of 4.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Mercer Intl's operating margin?
Mercer Intl (MERC) had an operating margin of -21.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Mercer Intl's net profit margin?
Mercer Intl (MERC) had a net profit margin of -26.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Mercer Intl pay dividends?
Yes, Mercer Intl (MERC) paid $0.15 per share in dividends during fiscal year 2025.
What is Mercer Intl's return on equity (ROE)?
Mercer Intl (MERC) has a return on equity of 731.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Mercer Intl's free cash flow?
Mercer Intl (MERC) generated -$80.0M in free cash flow during fiscal year 2025. This represents a -1459.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Mercer Intl's operating cash flow?
Mercer Intl (MERC) generated $8.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Mercer Intl's total assets?
Mercer Intl (MERC) had $2.0B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Mercer Intl's capital expenditures?
Mercer Intl (MERC) invested $88.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How many shares does Mercer Intl have outstanding?
Mercer Intl (MERC) had 67M shares outstanding as of fiscal year 2025.
What is Mercer Intl's current ratio?
Mercer Intl (MERC) had a current ratio of 3.05 as of fiscal year 2025, which is generally considered healthy.
What is Mercer Intl's debt-to-equity ratio?
Mercer Intl (MERC) had a debt-to-equity ratio of 23.58 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Mercer Intl's return on assets (ROA)?
Mercer Intl (MERC) had a return on assets of -24.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Mercer Intl's Piotroski F-Score?
Mercer Intl (MERC) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Mercer Intl's earnings high quality?
Mercer Intl (MERC) has an earnings quality ratio of -0.02x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Mercer Intl cover its interest payments?
Mercer Intl (MERC) has an interest coverage ratio of -3.5x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Mercer Intl?
Mercer Intl (MERC) scores 34 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.