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Mercer International Inc.

NASDAQ•MERC
CEO: Mr. Juan Carlos Bueno
Sector: Basic Materials
Industry: Paper, Lumber & Forest Products
Listing Date: 1988-07-20
Mercer International Inc., together with its subsidiaries, manufactures and sells northern bleached softwood kraft (NBSK) and northern bleached hardwood kraft (NBHK) pulp worldwide. The company operates through two segments, Pulp and Solid Wood. It manufactures, sells, and distributes pulp, electricity, and chemicals through pulp mills. The company also manufactures, distributes, and sells lumber, cross-laminated timber, finger joint lumber, glue-laminated timber, wood pallets, electricity, biofuels, and wood residuals. In addition, it generates and sells green energy produced from biomass cogeneration power plant to third party. Further, it produces and sells NBSK pulp manufactured from softwood; green energy using carbon-neutral biofuels, such as black liquor and wood waste; tall oil from black liquor for use as a chemical additive and green energy source; bio extractives and biomaterials, including lignin, turpentine, cellulose filaments, and sandalwood oil; and biofuels; as well as provides transportation and logistics services. The company sells its pulp to pulp markets, integrated paper and paperboard manufacturers; and lumber products to distributors, construction firms, secondary manufacturers, retail yards, and home centers. Mercer International Inc. was founded in 1968 and is headquartered in Vancouver, Canada.
Contact Information
700 West Pender Street, Suite 1120, Vancouver, BC, V6C 1G8, Canada
604-684-1099
www.mercerint.com
Market Cap
$114.54M
P/E (TTM)
-0.2
18.3
Dividend Yield
8.8%
52W High
$7.74
52W Low
$1.48
52W Range
4%
Rank49Top 66.7%
3.2
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 3.2 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q4 2025 Data

Revenue

$449.50M+0.00%
4-Quarter Trend

EPS

-$4.61+0.00%
4-Quarter Trend

FCF

$32.00M+0.00%
4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Massive EBITDA Decline Operating EBITDA fell to $(22.0M) USD in 2025 from positive $243.7M USD in 2024, reflecting severe market pressures.
Significant Asset Impairment Recognized $215.7M USD non-cash impairment against long-lived assets at Peace River mill due to pricing weakness.
Pulp Revenue Contraction Pulp segment revenues dropped 11% to $1.30B USD, driven by lower sales realizations and volumes across all products.
Solid Wood Lumber Gains Lumber revenues rose 14% to $247.6M USD, driven by higher sales realizations partially offsetting lower volumes.

Risk Factors

Fiber Cost Inflation Pulp segment fiber costs rose approximately 9% per unit due to constrained supply in Germany and Canada markets.
Net Loss Widens Net loss reached $(497.9M) USD in 2025, a substantial deterioration compared to the $(85.1M) USD loss reported in 2024.
Solid Wood Profitability Solid Wood Segment EBITDA was negative $(25.2M) USD, worsening from the $(4.4M) USD loss recorded in the prior year.
Currency Exchange Headwinds Weaker dollar caused negative $53.8M USD foreign exchange impact on operating loss compared to the prior year results.

Outlook

2026 CapEx Moderation Expect 2026 capital expenditures to be approximately $60.0M to $80.0M USD, principally maintenance focused projects.
Pulp Price Recovery Expected Pulp prices forecast modest increase in H1 2026 due to stable demand and global supply constraints noted by management.
Mass Timber Growth Continued focus on growing mass timber order book, with production expected to ramp up significantly during 2026.
Carbon Capture Pilot Commissioned Peace River carbon capture demonstration unit in Q4 2025 to evaluate technology and carbon credit sales.

Peer Comparison

Revenue (TTM)

MERC stock ticker logoMERC
$1.87B
-8.6%
LVRO stock ticker logoLVRO
$1.75B
-3.7%
AVD stock ticker logoAVD
$530.07M
-4.3%

Gross Margin (Latest Quarter)

BIOX stock ticker logoBIOX
40.9%
+0.8pp
AVD stock ticker logoAVD
28.7%
+14.1pp
SMID stock ticker logoSMID
26.8%
-1.0pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
SMID$204.23M17.325.0%5.5%
FF$188.35M-5.4-18.7%0.0%
ACNT$163.02M-29.2-6.3%11.9%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-3.9%
Flat Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
25%
Cash Flow Needs Attention

Deep Research

Next earnings:Apr 29, 2026
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LTM
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