Here are the 10-K annual reports from Magnera Corporation (MAGN) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow MAGN and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full MAGN filings page.
Magnera Corporation reports its first full year as a combined company after merging with Glatfelter, generating $3,204 million in net sales, up 47% from $2,187 million in 2024. Operating income improved to $5 million from a loss of $141 million, but higher interest on new debt led to a net loss of $159 million, similar to the prior year’s $154 million loss. The Americas segment produced $1,833 million of net sales and $241 million of adjusted EBITDA, while Rest of World delivered $1,371 million of net sales and $113 million of adjusted EBITDA. The GLT transaction added $1,145 million of 2025 revenue and increased goodwill to $663 million.
To fund the deal and a distribution to Berry, Magnera closed a $731 million term loan and issued $1,300 million of senior secured notes, ending 2025 with $1,952 million of long-term debt and $305 million of cash. Free cash flow was $126 million in 2025, and the company projects 2026 cash from operations of $170–$190 million and free cash flow of $90–$110 million on planned capital spending of $80 million. An internal control audit identified material weaknesses related to the merger purchase price allocation, certain legacy IT general controls, and deferred tax assets, resulting in an adverse opinion on internal control over financial reporting, although the financial statements received an unqualified opinion.