What is Mercer International Inc's earnings per share (EPS)?

Mercer International Inc (MERC) reported diluted earnings per share of -$7.44 for fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. 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.

Mercer International Inc (MERC) Financials

MERC

Trailing 12 months to June 30, 2026

Revenue $1.9B -4.8% YoY

Net Income -$517.5M n/m YoY

EPS (Diluted) -$7.73 n/m YoY

Free Cash Flow -$154.2M n/m YoY

Market Cap $13.8M as of Oct 21, 2026

Price / Sales 0.0x on $1.9B revenue, trailing 12 months to June 30, 2026

Price / Earnings n/m net loss, so no earnings multiple, trailing 12 months to June 30, 2026

Price / Book n/m negative shareholder equity, so no book multiple, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 21, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 6, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the MERC SEC filings page.

Mercer International Inc (MERC) reported $1.9B in revenue over the twelve months to Jun 30, 2026, down 4.8% from the prior twelve months. This page shows its 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).

Rhea AI MERC FY2025 2026-10-03

Mercer’s operating economics weakened sharply in 2025, leaving little equity cushion despite reported short-term coverage.

FY2025 paired a 4.9% gross margin with positive operating cash flow of $8.6M despite an operating loss. The positive cash flow therefore depended on noncash charges and/or working-capital movements, while capital spending still drove free cash flow to -$80.0M.

Operating margin moved from 0.7% to -21.3% as revenue slipped, showing cost absorption deteriorated faster than volume. Capital expenditures of $88.6M alongside negative free cash flow means reinvestment consumed cash rather than being funded by operations.

Equity fell from $429.8M in FY2024 to $68.1M in FY2025, leaving a much thinner balance-sheet cushion. That helps explain the 23.6x debt-to-equity ratio, even though a 3.1x current ratio indicates near-term assets still exceed near-term obligations.

Financial Health Signals

Financial Health Score 24/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Mercer International Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Mercer International Inc has an operating margin of -21.3%, meaning the company loses $21 on every $100 of revenue. This results in a profitability score of 12/100. This is down from 0.7% the prior year.

Growth

Mercer International Inc's revenue declined 8.6% year-over-year, from $2.0B to $1.9B. This contraction results in a growth score of 20/100.

Leverage

Mercer International Inc 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 2/100, reflecting increased financial risk.

Liquidity

With a current ratio of 3.05, Mercer International Inc holds $3.05 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 79/100.

Cash Flow

While Mercer International Inc 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 18/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Mercer International Inc posts a -731.5% return on equity (ROE), meaning it loses $732 for every $100 of shareholders' equity. This results in a returns score of 11/100. This is down from -19.8% the prior year.

Altman Z-Score Distress

0.43

Mercer International Inc scores 0.43, below the 1.81 distress threshold. The score is pulled down most by an operating loss of $397.7M against total assets of $2.0B. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Weak

3/9

Mercer International Inc 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 operating efficiency signals passes.

Earnings Quality Mixed

N/A

Mercer International Inc reported a net loss of $497.9M while generating $8.6M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.

Interest Coverage At Risk

N/A

Mercer International Inc reported an operating loss of $397.7M against $114.8M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

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Earnings & Revenue

Revenue

$460.3M

YoY+1.5%

QoQ-5.9%

5Y CAGR+2.8%

10Y CAGR+7.8%

Mercer International Inc generated $460.3M in revenue in Q2 2026. This represents an increase of 1.5% from the same quarter a year earlier. Against the prior quarter it is down 5.9%.

EBITDA

-$21.0M

YoYn/m

QoQ-367.5%

Mercer International Inc's EBITDA was -$21.0M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. Against the prior quarter it is down 367.5%.

Net Income

-$76.0M

YoYn/m

QoQn/m

10Y CAGRn/m

Mercer International Inc reported a net loss of $76.0M in Q2 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.

EPS (Diluted)

-$1.13

YoYn/m

QoQn/m

10Y CAGRn/m

Mercer International Inc earned -$1.13 per diluted share (EPS) in Q2 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.

Cash & Balance Sheet

Free Cash Flow

-$27.3M

YoYn/m

QoQn/m

10Y CAGRn/m

Mercer International Inc recorded an outflow of $27.3M in free cash flow in Q2 2026, representing a cash shortfall after capex. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.

Cash & Debt

$78.8M

YoY-46.2%

QoQ-6.8%

5Y CAGR-27.2%

10Y CAGR-3.5%

Mercer International Inc held $78.8M in cash against $1.3B in long-term debt as of Q2 2026.

Dividends Per Share

$0.00

YoY-100.0%

QoQn/m

Mercer International Inc paid $0.00 per share in dividends in Q2 2026. This represents a decrease of 100.0% from the same quarter a year earlier. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.

Shares Outstanding

67M

YoY+0.1%

QoQ+0.1%

5Y CAGR+0.3%

10Y CAGR+0.4%

Mercer International Inc had 67M shares outstanding in Q2 2026. This represents an increase of 0.1% from the same quarter a year earlier. Against the prior quarter it is up 0.1%.

Margins & Returns

Gross Margin

2.3%

YoY+0.2pp

QoQ-5.1pp

5Y change-23.6pp

Mercer International Inc's gross margin was 2.3% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 0.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 5.1 percentage points.

Operating Margin

-12.8%

YoY+0.1pp

QoQ-6.1pp

5Y change-25.7pp

10Y change-20.5pp

Mercer International Inc's operating margin was -12.8% in Q2 2026, reflecting core business profitability. This is up 0.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 6.1 percentage points.

Net Margin

-16.5%

YoY+2.5pp

QoQ-5.9pp

5Y change-21.8pp

10Y change-14.6pp

Mercer International Inc's net profit margin was -16.5% in Q2 2026, showing the share of revenue converted to profit. This is up 2.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 5.9 percentage points.

Return on Equity

Not reported for Q2 2026.

Capital Allocation

Capital Expenditures

$12.2M

YoY-50.0%

QoQ-7.6%

5Y CAGR-27.8%

10Y CAGR-1.0%

Mercer International Inc invested $12.2M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 50.0% from the same quarter a year earlier. Against the prior quarter it is down 7.6%.

R&D Spending

Not reported for Q2 2026.

Share Buybacks

Not reported for Q2 2026.

MERC Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

MERC quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$1.9B	$1.9B-8.6%	$2.0B+2.5%	$2.0B-12.6%	$2.3B+26.5%	$1.8B+26.7%	$1.4B-12.4%	$1.6B+11.4%	$1.5B+24.7%	$1.2B+25.5%	$931.6M-9.8%	$1.0B-12.1%	$1.2B+8.0%	$1.1B+1.5%	$1.1B-14.3%	$1.3B
Cost of Revenue	$1.8B	$1.8B+5.5%	$1.7B-9.2%	$1.9B+13.1%	$1.6B+31.6%	$1.2B+7.0%	$1.2B-13.2%	$1.3B+29.9%	$1.0B+19.2%	$866.0M	N/A	N/A	$887.7M-3.6%	$920.8M+3.9%	$886.1M-8.2%	$965.7M
Gross Profit	$52.7M	$92.1M-74.4%	$359.9M+156.4%	$140.4M-78.1%	$642.3M+15.2%	$557.6M+115.0%	$259.4M-8.7%	$284.0M-33.3%	$425.6M+40.4%	$303.1M	N/A	N/A	$287.4M+222.0%	$89.2M-20.5%	$112.3M-46.2%	$208.6M
SG&A Expenses	$114.4M	$114.4M-1.7%	$116.4M-5.5%	$123.2M+16.4%	$105.8M+34.1%	$78.9M+18.0%	$66.9M-9.9%	$74.2M+20.8%	$61.5M+23.7%	$49.7M+11.6%	$44.5M-3.7%	$46.2M-3.5%	$47.9M-6.3%	$51.2M+3.9%	$49.3M-8.7%	$54.0M
Operating Income	-$437.9M	-$397.7M-2750.4%	$15.0Mn/m	-$188.8M-148.1%	$392.4M+13.2%	$346.6M+443.8%	$63.7M-24.1%	$84.0M-68.6%	$267.9M+58.9%	$168.6M+46.4%	$115.1M-30.5%	$165.7M+2.4%	$161.8M+411.0%	$31.7M-49.8%	$63.0M-59.3%	$154.7M
EBITDA	N/A	-$237.7M-227.9%	$185.8Mn/m	-$16.3M-103.0%	$536.5M+12.1%	$478.8M+148.5%	$192.7M-8.4%	$210.4M-42.3%	$364.6M+43.6%	$253.8M+35.7%	$187.1M-20.0%	$234.0M-2.4%	$239.8M+117.4%	$110.3M-19.9%	$137.7M-40.8%	$232.6M
Interest Expense	$118.3M	$114.8M+5.2%	$109.2M+23.7%	$88.2M+23.4%	$71.5M+2.1%	$70.0M-13.3%	$80.7M+6.6%	$75.8M+47.2%	$51.5M-6.1%	$54.8M+6.2%	$51.6M-4.3%	$53.9M-20.2%	$67.5M-2.4%	$69.2M-3.6%	$71.8M-12.6%	$82.1M
Income Tax	-$33.8M	-$13.3Mn/m	-$1.8Mn/m	-$27.8M-128.3%	$98.3M+9.7%	$89.6M+1369.5%	$6.1M-68.3%	$19.2M-60.5%	$48.7M+45.5%	$33.5M+36.4%	$24.5M-16.7%	$29.4Mn/m	-$16.8M-282.4%	$9.2M-2.0%	$9.4Mn/m	-$968K
Net Income	-$517.5M	-$497.9Mn/m	-$85.1Mn/m	-$242.1M-198.0%	$247.0M+44.5%	$171.0Mn/m	-$17.2Mn/m	-$9.6M-107.5%	$128.6M+82.4%	$70.5M+101.7%	$34.9M-53.7%	$75.5M-33.3%	$113.2Mn/m	-$26.4Mn/m	-$15.7M-122.5%	$69.7M
EPS (Basic)	N/A	-$7.44n/m	-$1.27n/m	-$3.65-197.6%	$3.74+44.4%	$2.59n/m	-$0.26n/m	-$0.15-107.6%	$1.97+80.7%	$1.09+101.9%	$0.54-53.8%	$1.17-35.7%	$1.82n/m	-$0.47n/m	-$0.28-120.1%	$1.39
EPS (Diluted)	-$7.73	-$7.44n/m	-$1.27n/m	-$3.65-198.4%	$3.71+43.8%	$2.58n/m	-$0.26n/m	-$0.15-107.7%	$1.96+81.5%	$1.08+100.0%	$0.54-53.8%	$1.17-35.4%	$1.81n/m	-$0.47n/m	-$0.28-122.6%	$1.24
Diluted Shares (Avg)	N/A	67M+0.2%	67M+0.6%	66M-0.3%	67M+0.5%	66M+0.8%	66M+0.3%	66M-0.3%	66M+0.6%	65M+0.5%	65M+0.5%	65M+3.6%	63M+12.3%	56M+0.1%	56M-2.4%	57M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$460.3M+1.5%	$489.3M-3.5%	$449.5M-8.0%	$458.1M-8.8%	$453.5M-9.2%	$507.0M-8.4%	$488.4M+3.8%	$502.1M+6.7%
Cost of Revenue	$449.8M+1.3%	$453.0M+5.3%	$444.3M+22.2%	$457.4M+8.2%	$444.0M+1.1%	$430.2M-6.1%	$363.5M-14.0%	$422.6M+4.8%
Gross Profit	$10.5M+10.6%	$36.3M-52.7%	$5.3M-95.8%	$671K-99.2%	$9.5M-84.2%	$76.7M-19.4%	$124.9M+161.3%	$79.5M+17.7%
SG&A Expenses	$31.6M+3.7%	$28.5M-3.9%	$25.5M-1.2%	$28.8M-1.1%	$30.4M+2.2%	$29.7M-6.3%	$25.8M-3.6%	$29.2M-3.1%
Operating Income	-$59.0Mn/m	-$32.9M-588.5%	-$278.5M-652.6%	-$67.6M-864.5%	-$58.4Mn/m	$6.7Mn/m	$50.4Mn/m	$8.8Mn/m
EBITDA	-$21.0Mn/m	$7.8M-83.3%	-$235.8M-337.7%	-$28.1M-155.6%	-$20.9Mn/m	$47.1M+17.8%	$99.2Mn/m	$50.5M+34.4%
Interest Expense	$30.9M+8.8%	$29.1M+3.4%	$29.8M+5.1%	$28.5M+7.9%	$28.4M+5.8%	$28.2M+2.2%	$28.3M+3.9%	$26.4M+20.9%
Income Tax	-$13.4Mn/m	-$8.2M-1217.1%	$2.6M-25.0%	-$14.8Mn/m	-$1.9M-247.6%	$732Kn/m	$3.4M+218.1%	-$120K-103.0%
Net Income	-$76.0Mn/m	-$52.0Mn/m	-$308.7M-1947.7%	-$80.8Mn/m	-$86.1Mn/m	-$22.3Mn/m	$16.7Mn/m	-$17.6Mn/m
EPS (Basic)	-$1.13n/m	-$0.78n/m	-$4.61-1873.1%	-$1.21n/m	-$1.29n/m	-$0.33n/m	$0.26n/m	-$0.26n/m
EPS (Diluted)	-$1.13n/m	-$0.78n/m	-$4.61-1873.1%	-$1.21n/m	-$1.29n/m	-$0.33n/m	$0.26n/m	-$0.26n/m
Diluted Shares (Avg)	67M+0.2%	67M+0.1%	N/A	67M+0.2%	67M+0.1%	67M+0.4%	N/A	67M+0.6%

Not reported in any period shown, so not listed: R&D Expenses.

MERC Balance Sheet

MERC quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$2.0B-9.8%	$2.3B-15.0%	$2.7B-2.3%	$2.7B+15.9%	$2.4B+10.4%	$2.1B+3.1%	$2.1B+4.6%	$2.0B+14.6%	$1.7B+48.8%	$1.2B-2.0%	$1.2B-9.4%	$1.3B-15.6%	$1.5B-0.8%	$1.6B	N/A
Current Assets	$865.8M-4.9%	$910.0M-16.7%	$1.1B-7.2%	$1.2B+10.7%	$1.1B+21.7%	$874.9M+3.6%	$844.7M+4.2%	$810.7M-4.9%	$852.3M+112.1%	$401.9M+3.4%	$388.8M+8.6%	$357.9M-24.1%	$471.8M+3.7%	$454.9M	N/A
Cash & Equivalents	$186.8M+1.0%	$184.9M-41.1%	$314.0M-11.3%	$354.0M+2.4%	$345.6M-4.3%	$361.1M+2.9%	$351.1M+46.0%	$240.5M+67.8%	$143.3M+4.9%	$136.6M+37.1%	$99.6M+87.4%	$53.2M-64.0%	$147.7M+7.5%	$137.4M+0.8%	$136.3M
Short-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0	N/A	N/A
Inventory	$359.4M-0.6%	$361.7M-12.7%	$414.2M-8.1%	$450.5M+26.3%	$356.7M+31.3%	$271.7M-0.3%	$272.6M-10.3%	$303.8M+72.0%	$176.6M+32.3%	$133.5M-5.4%	$141.0M-3.8%	$146.6M-14.2%	$170.9M+9.6%	$156.0M	N/A
Accounts Receivable	$298.9M-8.7%	$327.3M+6.9%	$306.2M-13.0%	$352.0M+1.9%	$345.3M+52.1%	$227.1M+8.8%	$208.7M-17.4%	$252.7M+22.6%	$206.0M+66.3%	$123.9M-7.7%	$134.3M-4.8%	$141.1M+3.8%	$135.9M-6.4%	$145.2M	N/A
Long-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0	N/A	N/A
Goodwill	N/A	$0-100.0%	$35.4M+14.4%	$30.9Mn/m	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$2.0B+7.6%	$1.8B-9.6%	$2.0B+7.5%	$1.9B+13.8%	$1.7B+8.4%	$1.5B+0.8%	$1.5B+8.7%	$1.4B+18.8%	$1.2B+50.6%	$779.6M-2.5%	$799.8M-7.8%	$867.3M-27.7%	$1.2B+0.6%	$1.2B	N/A
Current Liabilities	$283.6M+10.6%	$256.5M-10.4%	$286.4M-24.2%	$378.1M+33.5%	$283.1M+33.7%	$211.8M-17.4%	$256.3M+31.2%	$195.4M-54.6%	$430.5M+362.0%	$93.2M-10.8%	$104.4M-9.6%	$115.5M-35.9%	$180.3M+0.2%	$179.9M	N/A
Non-Current Liabilities	$1.7B+7.2%	$1.6B-9.4%	$1.7B+15.4%	$1.5B+9.8%	$1.4B+4.4%	$1.3B+4.6%	$1.3B+5.0%	$1.2B+61.2%	$743.6M+8.3%	$686.4M-1.3%	$695.4M-10.0%	$772.4M-24.3%	$1.0B+0.7%	$1.0B	N/A
Long-Term Debt	$1.6B+8.9%	$1.5B-8.4%	$1.6B+19.5%	$1.3B+8.8%	$1.2B+4.3%	$1.2B+9.1%	$1.1B+4.5%	$1.0B+57.1%	$663.0M+7.4%	$617.5M-3.2%	$638.0M-3.6%	$661.6M-28.0%	$919.0M+4.7%	$877.8M	N/A
Total Equity	$68.1M-84.2%	$429.8M-32.4%	$635.4M-24.2%	$838.8M+20.9%	$694.0M+15.5%	$601.0M+9.2%	$550.4M-5.3%	$581.4M+5.6%	$550.7M+45.2%	$379.1M-1.0%	$383.0M-12.7%	$438.9M+22.2%	$359.1M-7.7%	$389.1M	N/A
Retained Earnings	-$277.0M-220.0%	$230.9M-31.3%	$336.1M-43.8%	$598.1M+61.2%	$370.9M+70.9%	$217.1M-15.3%	$256.4M-15.1%	$302.0M+46.6%	$206.0M+24.0%	$166.1M+3.2%	$160.9M+60.5%	$100.2M+826.6%	$10.8M-70.9%	$37.2M	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$1.9B-21.4%	$2.0B-15.9%	$2.0B-9.8%	$2.3B-8.5%	$2.4B-4.3%	$2.3B-10.3%	$2.3B-15.0%	$2.5B-5.7%
Current Assets	$783.4M-16.5%	$834.8M-13.9%	$865.8M-4.9%	$867.8M-18.1%	$937.6M-12.3%	$969.8M-13.9%	$910.0M-16.7%	$1.1B-0.5%
Cash & Equivalents	$78.8M-46.2%	$84.5M-53.4%	$186.8M+1.0%	$98.1M-59.0%	$146.5M-44.3%	$181.5M-33.8%	$184.9M-41.1%	$239.0M-30.5%
Short-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m
Inventory	$375.3M-9.7%	$366.0M-3.6%	$359.4M-0.6%	$384.7M-1.9%	$415.4M+4.0%	$379.6M-7.0%	$361.7M-12.7%	$392.1M-7.1%
Accounts Receivable	$308.6M-8.0%	$329.1M-4.8%	$298.9M-8.7%	$328.4M-6.8%	$335.4M-2.7%	$345.8M0.0%	$327.3M+6.9%	$352.5M+32.1%
Long-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	$0-100.0%	$0-100.0%
Total Liabilities	$2.0B+1.9%	$2.0B+3.7%	$2.0B+7.6%	$1.9B-2.8%	$1.9B-3.3%	$1.9B-6.5%	$1.8B-9.6%	$2.0B-0.2%
Current Liabilities	$600.9M+98.9%	$384.8M+29.0%	$283.6M+10.6%	$288.2M+3.1%	$302.1M-2.1%	$298.4M-1.0%	$256.5M-10.4%	$279.4M+4.3%
Non-Current Liabilities	$1.4B-16.1%	$1.6B-1.0%	$1.7B+7.2%	$1.6B-3.7%	$1.6B-3.5%	$1.6B-7.5%	$1.6B-9.4%	$1.7B-0.9%
Long-Term Debt	$1.3B-14.5%	$1.5B+0.4%	$1.6B+8.9%	$1.5B-3.2%	$1.5B-2.7%	$1.5B-6.9%	$1.5B-8.4%	$1.6B+0.5%
Total Equity	-$98.0M-121.9%	-$5.5M-101.3%	$68.1M-84.2%	$359.5M-30.4%	$446.5M-8.4%	$437.4M-23.8%	$429.8M-32.4%	$516.8M-22.3%
Retained Earnings	-$405.0M-460.1%	-$329.0M-261.6%	-$277.0M-220.0%	$31.7M-85.5%	$112.5M-53.5%	$203.6M-35.3%	$230.9M-31.3%	$219.2M-48.8%

MERC Cash Flow Statement

MERC quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	-$84.7M	$8.6M-90.5%	$90.2Mn/m	-$69.0M-119.1%	$360.7M+97.9%	$182.2M+338.4%	$41.6M-83.0%	$244.3M+3.2%	$236.7M+66.8%	$141.9M+0.8%	$140.8M-11.6%	$159.2M+10.1%	$144.6M+298.0%	$36.3M-38.6%	$59.1M-61.8%	$154.6M
Depreciation & Amortization	N/A	$160.0M-6.3%	$170.8M-1.0%	$172.5M+19.7%	$144.2M+9.0%	$132.2M+2.5%	$128.9M+2.0%	$126.4M+30.7%	$96.7M+13.4%	$85.3M+18.5%	$72.0M+5.3%	$68.3M-12.4%	$78.0M-0.8%	$78.6M+5.3%	$74.7M-4.2%	$78.0M
Stock-Based Compensation	N/A	$2.3M-40.8%	$3.9M-34.8%	$5.9M-12.1%	$6.7M+181.4%	$2.4M+158.0%	$928K-69.4%	$3.0M-22.9%	$3.9M+36.3%	$2.9M-38.0%	$4.7M+93.4%	$2.4M+51.9%	$1.6M-55.6%	$3.6M+36.6%	$2.6M-43.2%	$4.6M
Capital Expenditures	$69.5M	$88.6M+5.1%	$84.3M-38.1%	$136.3M-23.7%	$178.7M+12.1%	$159.4M+103.1%	$78.5M-40.5%	$132.0M+51.7%	$87.0M+50.2%	$57.9M+36.2%	$42.5M-8.6%	$46.5M+34.5%	$34.6M-24.3%	$45.7M-3.2%	$47.2M-10.3%	$52.6M
Free Cash Flow	-$154.2M	-$80.0M-1459.1%	$5.9Mn/m	-$205.3M-212.9%	$181.9M+698.8%	$22.8Mn/m	-$37.0M-132.9%	$112.2M-25.0%	$149.7M+78.1%	$84.0M-14.5%	$98.3M-12.8%	$112.7M+2.5%	$110.0Mn/m	-$9.4M-178.8%	$11.9M-88.3%	$102.0M
Investing Cash Flow	-$58.0M	-$81.3Mn/m	-$67.0Mn/m	-$199.9Mn/m	-$424.6Mn/m	-$177.8Mn/m	-$59.8Mn/m	-$139.4Mn/m	-$467.5Mn/m	-$121.6Mn/m	-$44.3Mn/m	-$49.8Mn/m	-$38.5Mn/m	-$45.0Mn/m	-$30.6Mn/m	-$63.8M
Financing Cash Flow	$81.4M	$79.8Mn/m	-$152.8M-166.8%	$228.6M+182.6%	$80.9Mn/m	-$18.8M-171.6%	$26.3M+331.6%	$6.1M-59.0%	$14.9M-94.9%	$288.8Mn/m	-$62.4Mn/m	-$56.7Mn/m	-$175.8M-1253.8%	$15.2Mn/m	-$29.7Mn/m	-$82.9M
Dividends Paid	N/A	$10.0M-50.0%	$20.1M+0.6%	$19.9M+0.5%	$19.8M+15.6%	$17.2M-21.6%	$21.9M-37.9%	$35.3M-13.4%	$40.7M+36.4%	$29.9M+0.4%	$29.7M+300.8%	$7.4Mn/m	$0n/m	$0	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	$0-100.0%	$162K-78.5%	$754Kn/m	$0	N/A	N/A	N/A	N/A	$0n/m	$0-100.0%	$10.6M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	-$15.1Mn/m	-$85.7Mn/m	$46.2M-35.1%	-$30.1Mn/m	-$4.5M-107.3%	-$3.0Mn/m	$71.2Mn/m	-$13.9Mn/m
Depreciation & Amortization	$38.0M+1.2%	$40.7M+1.0%	$42.7M-12.6%	$39.5M-5.1%	$37.5M-6.1%	$40.4M-0.1%	$48.8M+11.5%	$41.6M+1.6%
Stock-Based Compensation	-$857K-182.7%	$788K-21.7%	N/A	$1.3M-7.7%	$1.0M-26.2%	$1.0M-50.4%	N/A	$1.4M-19.0%
Capital Expenditures	$12.2M-50.0%	$13.2M-34.4%	$14.2M-31.7%	$30.0M+10.1%	$24.3M+36.1%	$20.1M+8.8%	$20.7M-20.4%	$27.3M-27.1%
Free Cash Flow	-$27.3Mn/m	-$98.8Mn/m	$32.0M-36.6%	-$60.1Mn/m	-$28.9M-165.1%	-$23.1Mn/m	$50.4Mn/m	-$41.2Mn/m
Investing Cash Flow	-$6.5Mn/m	-$12.8Mn/m	-$11.1Mn/m	-$27.6Mn/m	-$22.8Mn/m	-$19.9Mn/m	-$6.5Mn/m	-$22.9Mn/m
Financing Cash Flow	$15.8Mn/m	$1.8M-90.9%	$52.9Mn/m	$11.0M-13.9%	-$3.3Mn/m	$19.2M+182.2%	-$119.1Mn/m	$12.7M-93.1%
Dividends Paid	$0-100.0%	N/A	$0-100.0%	$5.0M+0.2%	$5.0M0.0%	N/A	$10.0M+0.5%	$5.0M+0.5%

Not reported in any period shown, so not listed: Share Buybacks.

MERC Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

MERC quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	4.9%-12.7pp	17.6%+10.6pp	7.0%-21.1pp	28.2%-2.8pp	30.9%+12.7pp	18.2%+0.7pp	17.5%-11.7pp	29.2%+3.3pp	25.9%	N/A	N/A	24.5%+16.3pp	8.2%-2.3pp	10.5%-6.2pp	16.7%
Operating Margin	-21.3%-22.0pp	0.7%+10.2pp	-9.5%-26.7pp	17.2%-2.0pp	19.2%+14.7pp	4.5%-0.7pp	5.2%-13.2pp	18.4%+4.0pp	14.4%+2.1pp	12.4%-3.7pp	16.0%+2.3pp	13.8%+10.9pp	2.9%-3.0pp	5.9%-6.5pp	12.3%
Net Margin	-26.7%-22.5pp	-4.2%+8.0pp	-12.1%-23.0pp	10.8%+1.3pp	9.5%+10.7pp	-1.2%-0.6pp	-0.6%-9.4pp	8.8%+2.8pp	6.0%+2.3pp	3.8%-3.6pp	7.3%-2.3pp	9.6%+12.0pp	-2.4%-1.0pp	-1.5%-7.0pp	5.6%
Return on Equity	-731.5%-711.7pp	-19.8%+18.3pp	-38.1%-67.5pp	29.4%+4.8pp	24.6%+27.5pp	-2.9%-1.1pp	-1.8%-23.9pp	22.1%+9.3pp	12.8%+3.6pp	9.2%-10.5pp	19.7%-6.1pp	25.8%+33.1pp	-7.3%-3.3pp	-4.0%	N/A
Return on Assets	-24.4%-20.6pp	-3.8%+5.3pp	-9.1%-18.2pp	9.1%+1.8pp	7.3%+8.1pp	-0.8%-0.3pp	-0.5%-7.0pp	6.5%+2.4pp	4.1%+1.1pp	3.0%-3.4pp	6.4%-2.3pp	8.7%+10.4pp	-1.7%-0.7pp	-1.0%	N/A
Current Ratio	3.05-0.5x	3.55-0.3x	3.82+0.7x	3.12-0.6x	3.76-0.4x	4.13+0.8x	3.30-0.9x	4.15+2.2x	1.98-2.3x	4.31+0.6x	3.72+0.6x	3.10+0.5x	2.62+0.1x	2.53	N/A
Debt-to-Equity	23.58+20.2x	3.43+0.9x	2.53+0.9x	1.61-0.2x	1.78-0.2x	1.970.0x	1.98+0.2x	1.79+0.6x	1.20-0.4x	1.630.0x	1.67+0.2x	1.51-1.1x	2.56+0.3x	2.26	N/A
Liabilities-to-Equity	28.99+24.7x	4.27+1.1x	3.19+0.9x	2.25-0.1x	2.39-0.2x	2.54-0.2x	2.75+0.4x	2.40+0.3x	2.13+0.1x	2.060.0x	2.09+0.1x	1.98-1.4x	3.34+0.3x	3.07	N/A
Asset Turnover	0.920.0x	0.90+0.2x	0.75-0.1x	0.84+0.1x	0.77+0.1x	0.67-0.1x	0.790.0x	0.74+0.1x	0.68-0.1x	0.80-0.1x	0.870.0x	0.90+0.2x	0.700.0x	0.69	N/A
FCF Margin	-4.3%-4.6pp	0.3%+10.6pp	-10.3%-18.3pp	8.0%+6.7pp	1.3%+3.9pp	-2.6%-9.5pp	6.9%-3.4pp	10.3%+3.1pp	7.2%-3.4pp	10.5%-0.4pp	10.9%+1.6pp	9.4%+10.2pp	-0.9%-2.0pp	1.1%-7.0pp	8.1%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	2.3%+0.2pp	7.4%-7.7pp	1.2%-24.4pp	0.1%-15.7pp	2.1%-10.0pp	15.1%-2.1pp	25.6%+15.4pp	15.8%+1.5pp
Operating Margin	-12.8%+0.1pp	-6.7%-8.0pp	-62.0%-72.3pp	-14.8%-16.5pp	-12.9%-4.1pp	1.3%+1.4pp	10.3%+22.3pp	1.8%+2.5pp
Net Margin	-16.5%+2.5pp	-10.6%-6.2pp	-68.7%-72.1pp	-17.6%-14.1pp	-19.0%-5.4pp	-4.4%-1.4pp	3.4%+22.0pp	-3.5%+2.0pp
Return on Equity	N/A	N/A	-453.6%-457.5pp	-22.5%-19.1pp	-19.3%-5.4pp	-5.1%-2.2pp	3.9%+17.6pp	-3.4%+0.5pp
Return on Assets	-4.1%-0.4pp	-2.6%-1.7pp	-15.1%-15.9pp	-3.5%-2.8pp	-3.6%-0.9pp	-1.0%-0.3pp	0.7%+4.0pp	-0.7%+0.3pp
Current Ratio	1.30-1.8x	2.17-1.1x	3.05-0.5x	3.01-0.8x	3.10-0.4x	3.25-0.5x	3.55-0.3x	3.79-0.2x
Debt-to-Equity	N/A	N/A	23.58+20.2x	4.30+1.2x	3.42+0.2x	3.44+0.6x	3.43+0.9x	3.09+0.7x
Liabilities-to-Equity	N/A	N/A	28.99+24.7x	5.37+1.5x	4.33+0.2x	4.34+0.8x	4.27+1.1x	3.84+0.9x
Asset Turnover	0.25+0.1x	0.250.0x	0.220.0x	0.200.0x	0.190.0x	0.220.0x	0.220.0x	0.200.0x
FCF Margin	-5.9%+0.4pp	-20.2%-15.7pp	7.1%-3.2pp	-13.1%-4.9pp	-6.4%-15.2pp	-4.5%+4.1pp	10.3%+17.7pp	-8.2%+5.1pp

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Mercer International Inc MERC	FY2025	$1.9B	-$497.9M	-26.7%	$13.8M	24/100
Magnera Corporation MAGN	FY2025	$3.2B	-$159.0M	-5.0%	$401.5M	41/100
Clearwater Paper Corporation CLW	FY2025	$1.6B	-$18.6M	-1.2%	$302.2M	36/100
Sylvamo Corporation SLVM	FY2025	$3.4B	$132.0M	3.9%	$1.2B	48/100
IT Tech Packaging, Inc. ITP	FY2024	$75.8M	-$9.8M	-13.0%	$2.3M	45/100

Where Mercer International Inc Ranks

Frequently Asked Questions

What is Mercer International Inc's annual revenue?

Mercer International Inc (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 International Inc's revenue growing?

Mercer International Inc (MERC) revenue declined by 8.6% year-over-year, from $2.0B to $1.9B in fiscal year 2025.

Is Mercer International Inc profitable?

No, Mercer International Inc (MERC) reported a net loss of $517.5M over the trailing 12 months to June 30, 2026. In fiscal year 2025 it reported a net loss of $497.9M, with a net profit margin of -26.7%.

What is Mercer International Inc's EBITDA?

Mercer International Inc (MERC) had EBITDA of -$237.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Mercer International Inc have?

As of fiscal year 2025, Mercer International Inc (MERC) had $186.8M in cash and equivalents against $1.6B in long-term debt.

What is Mercer International Inc's gross margin?

Mercer International Inc (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 International Inc's operating margin?

Mercer International Inc (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 International Inc's net profit margin?

Mercer International Inc (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 International Inc pay dividends?

Yes, Mercer International Inc (MERC) paid $0.15 per share in dividends during fiscal year 2025.

What is Mercer International Inc's return on equity (ROE)?

Mercer International Inc (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 International Inc's free cash flow?

Mercer International Inc (MERC) recorded an outflow of $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 International Inc's operating cash flow?

Mercer International Inc (MERC) generated $8.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Mercer International Inc's total assets?

Mercer International Inc (MERC) had $2.0B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Mercer International Inc's capital expenditures?

Mercer International Inc (MERC) invested $88.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Mercer International Inc have outstanding?

Mercer International Inc (MERC) had 67M shares outstanding as of fiscal year 2025.

What is Mercer International Inc's current ratio?

Mercer International Inc (MERC) had a current ratio of 3.05 as of fiscal year 2025, which is generally considered healthy.

What is Mercer International Inc's debt-to-equity ratio?

Mercer International Inc (MERC) had a debt-to-equity ratio of 23.58 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.

What is Mercer International Inc's liabilities-to-equity ratio?

Mercer International Inc (MERC) had a liabilities-to-equity ratio of 28.99 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.

What is Mercer International Inc's return on assets (ROA)?

Mercer International Inc (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 International Inc's P/E ratio?

Mercer International Inc (MERC) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $13.8M as of Oct 21, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Mercer International Inc's price-to-sales ratio?

Mercer International Inc (MERC) trades at 0.0x sales, its market capitalization divided by $1.9B revenue, trailing 12 months to June 30, 2026. The market capitalization is $13.8M as of Oct 21, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Mercer International Inc's Altman Z-Score?

Mercer International Inc (MERC) has an Altman Z-Score of 0.43, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Mercer International Inc's Piotroski F-Score?

Mercer International Inc (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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Mercer International Inc's earnings high quality?

Mercer International Inc (MERC) reported a net loss of $497.9M while generating $8.6M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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 International Inc cover its interest payments?

Mercer International Inc (MERC) reported an operating loss of $397.7M against $114.8M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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 International Inc?

Mercer International Inc (MERC) scores 24 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.