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Mercer International USD

At a glance: strengths & risks
✗Revenue declining (-9%)✗Loss-making last FY✗Margins compressing (9%→-13%)

Sector: Timber & wood

Geography: Canada, Germany, USA

COMM_MERC

Price chart

0.47 USDDay -6.00%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
0.47 USD · -6.00%
Market cap
31 mln USD

Growth

Δ revenue y/y
1.5%
Δ EBITDA y/y
-227.9%

Multiples

P/E (LTM)
—
P/B (FY)
0.5x
P/E (ann.)
<0
EV/EBITDA (LTM)
—
EV/EBITDA (ann.)
<0

Cash return

Dividend yield
—
FCF yield (LTM)
—

Liquidity

Daily turnover (listing)
0.2 mln USD

Shares: yahoo_fundamentals_timeseries/MERC

Financial results

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-06-30Q2 2026 (3M)OK460.3
y/y 1.5%
-59.0
y/y —
38.0
y/y 1.2%
-21.0
y/y —
-76.0
y/y —
-15.1-12.21869.9
y/y -21.4%
98.0
y/y -78.1%
-657.6%1226.9Link
2026-03-31Q1 2026 (3M)OK489.3
y/y -3.5%
-32.9
y/y -588.5%
40.7
y/y 1.0%
7.8
y/y -83.3%
-52.0
y/y —
-85.7-13.21963.8
y/y -15.9%
-5.5
y/y -101.3%
-665.3%1550.4Link
2025-12-31Q4 2025 (3M)OK449.5
y/y -8.0%
-278.5
y/y -652.6%
42.7
y/y -12.6%
-235.8
y/y -337.7%
-308.7
y/y -1947.7%
46.2-14.22041.4
y/y -9.8%
68.1
y/y -84.2%
-232.9%1480.2Link
2025-09-30Q3 2025 (3M)OK458.1
y/y -8.8%
-67.6
y/y -864.5%
39.5
y/y -5.1%
-28.1
y/y -155.6%
-80.8
y/y —
-30.1-30.02290.6
y/y -8.5%
359.5
y/y -30.4%
-26.7%1465.1Link
2025-06-30Q2 2025 (3M)OK453.5
y/y -9.2%
-58.4
y/y —
37.5
y/y -6.1%
-20.9
y/y —
-86.1
y/y —
-4.5-24.32378.4
y/y -4.3%
446.5
y/y -8.4%
-77.9%1394.9Link
2025-03-31Q1 2025 (3M)OK507.0
y/y -8.4%
6.7
y/y —
40.4
y/y -0.1%
47.1
y/y 17.8%
-22.3
y/y —
-3.0-20.12336.2
y/y -10.3%
437.4
y/y -23.8%
-20.6%1334.4Link
2024-12-31Q4 2024 (3M)OK488.4
y/y 3.8%
50.4
y/y 189.4%
48.8
y/y 11.5%
99.2
y/y 888.2%
16.7
y/y 119.2%
71.2-20.72262.9
y/y -15.0%
429.8
y/y -32.4%
-18.0%1344.9Link
2024-09-30Q3 2024 (3M)OK502.1
y/y 6.7%
8.8
y/y —
41.6
y/y 1.6%
50.5
y/y 34.4%
-17.6
y/y —
-13.9-27.32502.6
y/y -5.7%
516.8
y/y -22.3%
-4.7%1372.0Link
2024-06-30Q2 2024 (3M)OK499.4
y/y -5.8%
-43.8
y/y —
39.9
y/y -0.5%
-3.8
y/y —
-67.6
y/y —
62.2-17.92484.5
y/y -5.7%
487.7
y/y -33.5%
-50.9%1318.6Link
2024-03-31Q1 2024 (3M)OK553.4
y/y 5.9%
-0.4
y/y —
40.4
y/y -15.1%
40.0
y/y 45.5%
-16.7
y/y —
-29.2-18.52605.4
y/y -4.9%
573.6
y/y -30.3%
-11.1%1360.3Link
2023-12-31Q4 2023 (3M)OK470.5
y/y —
-56.4
y/y —
43.8
y/y —
-12.6
y/y —
-87.2
y/y —
-8.7-26.02662.6
y/y —
635.4
y/y —
-37.2%1355.6Link
2023-09-30Q3 2023 (3M)OK470.8
y/y —
-3.4
y/y —
41.0
y/y —
37.5
y/y —
-26.0
y/y —
-25.3-37.42655.0
y/y —
665.5
y/y —
-4.9%1270.3Link
2023-06-30Q2 2023 (3M)OK529.9
y/y —
-108.8
y/y —
40.2
y/y —
-68.7
y/y —
-98.3
y/y —
14.7-39.52633.4
y/y —
733.5
y/y —
-50.5%1215.4Link
2023-03-31Q1 2023 (3M)OK522.7
y/y —
-20.1
y/y —
47.6
y/y —
27.5
y/y —
-30.6
y/y —
-49.6-33.42740.5
y/y —
822.9
y/y —
—1100.3Link

Net debt structure (leases included, IFRS 16) 2026-06-30

Long-term debt (incl. LT leases)1 306
− Cash & equivalents79
Net debt1 227

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

-400-20002004006002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

-400%-300%-200%-100%0%2024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

FCF ($ mln)

-100-500501002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Net debt / cash ($ mln)

05001 0001 5002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Profit and cash

Profit is cash-backed
In a typical year of 2021–2025 operating cash flow came to 1.26x of reported net profit; after capex, 0.43x. Loss years (2023, 2024, 2025) are left out of the ratio.
year20212022202320242025
cash flow / profit1.07x1.46x———
accruals, % of assets-0.5%-4.2%-6.5%-7.8%-24.8%
EBIT covers interest -3.5x · capex 0.8x of depreciation
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Production & Reserves

Physical operating metrics — supplementary, not part of the financial statements

Annual production
1 830 thousand ADMTs
2025

Production, thousand ADMTs

1 90020241 8302025

Production

YearProduction, thousand ADMTs
20251 830
−3.7%
20241 900

SEC 10-K (CIK 1333274) via DeepSeek; MERC primary-product production & reserves.

Key-commodity price — Northern bleached softwood kraft

Current 1 217spot vs LTM -3%

Revenue growth & acceleration

Growth decelerating ▼
Last-year revenue growth -9% vs +2% the year before — a -11.1 pp move. 3-year CAGR -6%.
revenue growth by year: 2023 -13% · 2024 +2% · 2025 -9%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 11.7x · target 75th pct (3y) 32.5x · LTM avg 20.3x

EV/EBITDA (LTM)EV/EBITDA (projected)target 75th pct (projected, 3y)

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2025-06-260.075 USDEx-dividend: 0.075 USD per sharePaidYahoo Finance (ex-div)
2025-03-260.075 USDEx-dividend: 0.075 USD per sharePaidYahoo Finance (ex-div)
2024-12-180.075 USDEx-dividend: 0.075 USD per sharePaidYahoo Finance (ex-div)
2024-09-250.075 USDEx-dividend: 0.075 USD per sharePaidYahoo Finance (ex-div)
2024-06-260.075 USDEx-dividend: 0.075 USD per sharePaidYahoo Finance (ex-div)
2024-03-260.075 USDEx-dividend: 0.075 USD per sharePaidYahoo Finance (ex-div)
2023-12-190.075 USDEx-dividend: 0.075 USD per sharePaidYahoo Finance (ex-div)
2023-09-260.075 USDEx-dividend: 0.075 USD per sharePaidYahoo Finance (ex-div)
2023-06-270.075 USDEx-dividend: 0.075 USD per sharePaidYahoo Finance (ex-div)
2023-03-280.075 USDEx-dividend: 0.075 USD per sharePaidYahoo Finance (ex-div)
2022-12-200.075 USDEx-dividend: 0.075 USD per sharePaidYahoo Finance (ex-div)
2022-09-270.075 USDEx-dividend: 0.075 USD per sharePaidYahoo Finance (ex-div)
2022-06-280.075 USDEx-dividend: 0.075 USD per sharePaidYahoo Finance (ex-div)
2022-03-290.075 USDEx-dividend: 0.075 USD per sharePaidYahoo Finance (ex-div)
2021-12-210.065 USDEx-dividend: 0.065 USD per sharePaidYahoo Finance (ex-div)
2021-09-280.065 USDEx-dividend: 0.065 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Mercer International — from primary filings.

Mercer International Inc. manufactures and sells bleached softwood and hardwood pulp, along with lumber, engineered wood products, and green energy from biomass. It operates through Pulp and Solid Wood segments, serving paper manufacturers and construction markets globally.

Frequently asked questions

What is Mercer International's P/B ratio?
Mercer International trades at a P/B of 0.5x.
What is Mercer International's return on equity (ROE)?
Mercer International's ROE is -232.9%.
What is Mercer International's market capitalization?
Mercer International's market cap is 31 mln USD.

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