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.

Mercer Intl (MERC) Financials

MERC

Trailing 12 months to June 30, 2026

Revenue $1.9B -4.8% YoY

Net Income -$20.1M +17.1% YoY

EPS (Diluted) -$7.73 -377.2% YoY

Free Cash Flow -$154.2M -261.2% YoY

Market Cap $24.4M as of Sep 3, 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 Sep 3, 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 Intl (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 2026-08-29

Margin collapse has converted a formerly cash-generative industrial balance sheet into a highly levered, thin-equity structure.

Gross margin fell to 4.9% in FY2025 from 28.2% in FY2022, showing that the earnings model is highly exposed to the economics of each sales dollar. Operating margin was -21.3% in FY2025, so the gross-profit squeeze left operating costs unrecovered rather than merely trimming profitability.

Leverage is now balance-sheet-driven: debt-to-equity reached 23.6x as equity compressed to $68.1M, so the ratio is being amplified by a shrinking denominator rather than only by additional borrowing. Long-term debt remained about $1.6B in FY2025, making the thin equity base central to how the company is financed.

Cash conversion weakened sharply: operating cash flow fell from $90.2M in FY2024 to $8.6M in FY2025, leaving little cash generated from operations. Free cash flow was -$80.0M, indicating that capital spending consumed more than the year's operating cash generation.

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; the overall is their average, with missing dimensions counted as zero out of six. 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 Intl'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 Intl has an operating margin of -21.3%, meaning the company loses $21 on every $100 of revenue. This results in a profitability score of 13/100. This is down from 0.7% the prior year.

Growth

Mercer Intl'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 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 1/100, reflecting increased financial risk.

Liquidity

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 79/100.

Cash Flow

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 17/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Mercer Intl posts a -0.7% return on equity (ROE), meaning it loses $1 for every $100 of shareholders' equity. This results in a returns score of 11/100. This is down from 0.0% the prior year.

Altman Z-Score Distress

0.43

Mercer Intl scores 0.43, below the 1.81 distress threshold. 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 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.

Earnings Quality Mixed

N/A

Mercer Intl reported a net loss of $498K 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 Intl 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

Export CSV

Earnings & Revenue

Revenue

$460.3M

YoY+1.5%

QoQ-5.9%

5Y CAGR+2.8%

10Y CAGR+7.8%

Mercer Intl 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

YoY-0.5%

QoQ-367.5%

Mercer Intl's EBITDA was -$21.0M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 0.5% from the same quarter a year earlier. Against the prior quarter it is down 367.5%.

Net Income

-$76.0M

YoY+11.7%

QoQ-46.1%

Mercer Intl reported -$76.0M in net income in Q2 2026. This represents an increase of 11.7% from the same quarter a year earlier. Against the prior quarter it is down 46.1%.

EPS (Diluted)

-$1.13

YoY+12.4%

QoQ-44.9%

Mercer Intl earned -$1.13 per diluted share (EPS) in Q2 2026. This represents an increase of 12.4% from the same quarter a year earlier. Against the prior quarter it is down 44.9%.

Cash & Balance Sheet

Free Cash Flow

-$27.3M

YoY+5.5%

QoQ+72.4%

Mercer Intl recorded an outflow of $27.3M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents an increase of 5.5% from the same quarter a year earlier. Against the prior quarter it is up 72.4%.

Cash & Debt

$78.8M

YoY-46.2%

QoQ-6.8%

5Y CAGR-27.2%

10Y CAGR-3.5%

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

Dividends Per Share

$0.00

YoY-100.0%

Mercer Intl paid $0.00 per share in dividends in Q2 2026. This represents a decrease of 100.0% from the same quarter a year earlier.

Shares Outstanding

67M

YoY+0.1%

QoQ+0.1%

5Y CAGR+0.3%

10Y CAGR+0.4%

Mercer Intl 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 CAGR-23.6pp

Mercer Intl'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 CAGR-25.7pp

10Y CAGR-20.5pp

Mercer Intl'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 CAGR-21.8pp

10Y CAGR-14.6pp

Mercer Intl'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 Intl 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%	$15.0M+107.9%	-$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%	$185.8M+1241.8%	-$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	-$13.3M-651.0%	-$1.8M+93.6%	-$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%	$29.4M+275.6%	-$16.8M-282.4%	$9.2M-2.0%	$9.4M+1068.9%	-$968K
Net Income	-$20.1M	-$498K-484.8%	-$85K+64.8%	-$242K-198.0%	$247K+44.5%	$171K+101.0%	-$17.2M-78.8%	-$9.6M-107.5%	$128.6M+82.4%	$70.5M+101.7%	$34.9M-53.7%	$75.5M-33.3%	$113.2M+529.0%	-$26.4M-68.3%	-$15.7M-122.5%	$69.7M
EPS (Basic)	N/A	-$7.44-485.8%	-$1.27+65.2%	-$3.65-197.6%	$3.74+44.4%	$2.59+1096.2%	-$0.26-73.3%	-$0.15-107.6%	$1.97+80.7%	$1.09+101.9%	$0.54-53.8%	$1.17-35.7%	$1.82+487.2%	-$0.47-67.9%	-$0.28-120.1%	$1.39
EPS (Diluted)	-$7.73	-$7.44-485.8%	-$1.27+65.2%	-$3.65-198.4%	$3.71+43.8%	$2.58	-$0.26-73.3%	-$0.15-107.7%	$1.96+81.5%	$1.08+100.0%	$0.54-53.8%	$1.17-35.4%	$1.81+485.1%	-$0.47-67.9%	-$0.28-122.6%	$1.24
Diluted Shares (Avg)	N/A	67M+0.2%	67M+0.6%	66M-0.3%	67M+0.5%	66M	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-Q	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	-$59.0M-1.0%	-$32.9M-588.5%	-$278.5M-652.6%	-$67.6M-864.5%	-$58.4M-33.4%	$6.7M+1602.9%	$50.4M+189.4%	$8.8M+358.1%
EBITDA	-$21.0M-0.5%	$7.8M-83.3%	-$235.8M-337.7%	-$28.1M-155.6%	-$20.9M-444.1%	$47.1M+17.8%	$99.2M+888.2%	$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	-$13.4M-619.6%	-$8.2M-1217.1%	$2.6M-25.0%	-$14.8M-12214.2%	-$1.9M-247.6%	$732K+111.5%	$3.4M+218.1%	-$120K-103.0%
Net Income	-$76.0M+11.7%	-$52.0M-132.8%	$188.7M+85.4%	-$80.8M-360.0%	-$86.1M-27.4%	-$22.3M-33.7%	$101.8M-34.2%	-$17.6M+32.4%
EPS (Basic)	-$1.13+12.4%	-$0.78-136.4%	-$4.61-1873.1%	-$1.21-365.4%	-$1.29-27.7%	-$0.33-32.0%	$0.26+119.7%	-$0.26+33.3%
EPS (Diluted)	-$1.13+12.4%	-$0.78-136.4%	-$4.61-1873.1%	-$1.21-365.4%	-$1.29-27.7%	-$0.33-32.0%	$0.26+119.7%	-$0.26+33.3%
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	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
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	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	N/A	$0-100.0%	$35.4M+14.4%	$30.9M	$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+5.8%	$367.8M
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-Q	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	$0	$0	$0	$0	$0	$0	$0	$0
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	$0	$0	$0	$0	$0	$0	$0	$0
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%	$90.2M+230.7%	-$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%	$5.9M+102.9%	-$205.3M-212.9%	$181.9M+698.8%	$22.8M+161.6%	-$37.0M-132.9%	$112.2M-25.0%	$149.7M+78.1%	$84.0M-14.5%	$98.3M-12.8%	$112.7M+2.5%	$110.0M+1272.2%	-$9.4M-178.8%	$11.9M-88.3%	$102.0M
Investing Cash Flow	-$58.0M	-$81.3M-21.4%	-$67.0M+66.5%	-$199.9M+52.9%	-$424.6M-138.8%	-$177.8M-197.2%	-$59.8M+57.1%	-$139.4M+70.2%	-$467.5M-284.6%	-$121.6M-174.4%	-$44.3M+11.1%	-$49.8M-29.5%	-$38.5M+14.4%	-$45.0M-46.9%	-$30.6M+52.1%	-$63.8M
Financing Cash Flow	$81.4M	$79.8M+152.2%	-$152.8M-166.8%	$228.6M+182.6%	$80.9M+529.5%	-$18.8M-171.6%	$26.3M+331.6%	$6.1M-59.0%	$14.9M-94.9%	$288.8M+562.9%	-$62.4M-10.1%	-$56.7M+67.8%	-$175.8M-1253.8%	$15.2M+151.3%	-$29.7M+64.2%	-$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%	$7.4M	$0	$0	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	$0-100.0%	$162K-78.5%	$754K	$0	N/A	N/A	N/A	N/A	$0	$0-100.0%	$10.6M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	-$15.1M-234.0%	-$85.7M-2766.0%	$46.2M-35.1%	-$30.1M-115.5%	-$4.5M-107.3%	-$3.0M+89.8%	$71.2M+916.1%	-$13.9M+45.0%
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	-$27.3M+5.5%	-$98.8M-328.4%	$32.0M-36.6%	-$60.1M-45.8%	-$28.9M-165.1%	-$23.1M+51.6%	$50.4M+245.2%	-$41.2M+34.3%
Investing Cash Flow	-$6.5M+71.4%	-$12.8M+35.4%	-$11.1M-71.8%	-$27.6M-20.6%	-$22.8M-13.0%	-$19.9M-13.6%	-$6.5M+68.0%	-$22.9M+21.8%
Financing Cash Flow	$15.8M+585.0%	$1.8M-90.9%	$52.9M+144.4%	$11.0M-13.9%	-$3.3M+93.9%	$19.2M+182.2%	-$119.1M-6027.2%	$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	0.0%0.0pp	0.0%0.0pp	0.0%0.0pp	0.0%0.0pp	0.0%+1.2pp	-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	-0.7%-0.7pp	0.0%0.0pp	0.0%-0.1pp	0.0%0.0pp	0.0%+2.9pp	-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%-23.0pp	18.9%
Return on Assets	0.0%0.0pp	0.0%0.0pp	0.0%0.0pp	0.0%0.0pp	0.0%+0.8pp	-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
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-Q	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	42.0%+21.1pp	-17.6%-14.1pp	-19.0%-5.4pp	-4.4%-1.4pp	20.8%-12.0pp	-3.5%+2.0pp
Return on Equity	N/A	N/A	277.2%+253.6pp	-22.5%-19.1pp	-19.3%-5.4pp	-5.1%-2.2pp	23.7%-0.6pp	-3.4%+0.5pp
Return on Assets	-4.1%-0.4pp	-2.6%-1.7pp	9.2%+4.7pp	-3.5%-2.8pp	-3.6%-0.9pp	-1.0%-0.3pp	4.5%-1.3pp	-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
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 Intl MERC	FY2025	$1.9B	-$498K	0.0%	$24.4M	24/100
Magnera MAGN	FY2025	$3.2B	-$159.0M	-5.0%	$447.8M	42/100
Clearwater Paper CLW	FY2025	$1.6B	-$18.6M	-1.2%	$337.4M	37/100
Sylvamo Corp SLVM	FY2025	$3.4B	$132.0M	3.9%	$1.4B	48/100
It Tech Packaging ITP	FY2024	$75.8M	-$9.8M	-13.0%	$2.7M	37/100

Where Mercer Intl Ranks

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 -$498K in fiscal year 2025, with a net profit margin of 0.0%.

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 0.0% 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 -0.7% 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) 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 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 0.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Mercer Intl's P/E ratio?

Mercer Intl (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 $24.4M as of Sep 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Mercer Intl's price-to-sales ratio?

Mercer Intl (MERC) trades at 0.0x sales, its market capitalization divided by revenue of $1.9B revenue, trailing 12 months to June 30, 2026. The market capitalization is $24.4M as of Sep 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Mercer Intl's Altman Z-Score?

Mercer Intl (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 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 to 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) reported a net loss of $498K 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 Intl cover its interest payments?

Mercer Intl (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 Intl?

Mercer Intl (MERC) scores 24 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite 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.