MERCNasdaqPulp MillsFiscal year ends December 31
MERCER INTERNATIONAL INC.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$0.19+0.00 (+0.21%)
Close on Oct 19, 2026
- Market cap
- $12.76M
- P/E (TTM)
- –
- Dividend yield
- 78.78%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
4.9%−13.3 pts over 5 years
Operating margin
-21.3%−25.8 pts over 5 years
Net margin
-26.7%−25.4 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -8.6% | -6.4% | +5.6% | +6.1% | |
| Gross profit | -74.4% | -47.7% | -18.7% | – | |
| Dividend per share | -50.0% | -20.6% | -14.7% | -4.2% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 9.2% | -3.0% | -200.0% | |
| Return on assets | 3.0% | -0.8% | -23.1% | |
| Current ratio | 4.31 | 4.13 | 3.05 | |
| Debt to equity | 1.63 | 1.97 | 23.79 | |
| Net debt to EBITDA | 2.55× | 4.29× | -6.02× | |
| Interest coverage | 2.2× | 0.8× | -3.5× | |
| Inventory turnover | – | 4.3× | 4.9× | |
| Capex to revenue | 4.6% | 5.5% | 4.7% | |
| Diluted shares | 65M | 66M | 67M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Mercer International generated $710.67M from operations and spent $734.47M on capital expenditure, dividends and share buybacks. 88% of that went back into the business.
Generated
$710.67M
Used
$734.47M
Capital expenditure$647.41M88%Dividends$87.06M12%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-26.7%
×Asset turnover0.87×
×Equity multiplier8.65×
=Return on equity, FY2025-200.0%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -26.7% | 0.87× | 8.65× | -200.0% |
| FY2024 | -4.2% | 0.83× | 4.62× | -16.0% |
| FY2023 | -12.1% | 0.74× | 3.65× | -32.8% |
| FY2022 | 10.8% | 0.90× | 3.31× | 32.2% |
| FY2021 | 9.5% | 0.80× | 3.46× | 26.4% |
| FY2020 | -1.2% | 0.68× | 3.64× | -3.0% |
| FY2019 | -0.6% | 0.80× | 3.57× | -1.7% |
| FY2018 | 8.8% | 0.79× | 3.27× | 22.7% |
| FY2017 | 6.0% | 0.81× | 3.10× | 15.2% |
| FY2016 | 3.8% | 0.80× | 3.07× | 9.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$497.89M
- Cash generatingOperating cash flow above zero$8.59M
- Return on assets improvedROA up on the prior year-3.2% → -22.0%
- Earnings backed by cashOperating cash flow above net income$8.59M vs -$497.89M
- Less leverageLong-term debt to assets fell65.1% → 78.6%
- Better liquidityCurrent ratio rose3.55 → 3.05
- No dilutionShare count did not rise67M → 67M
- Gross margin improvedGross margin up on the prior year17.61% → 4.93%
- More efficientAsset turnover rose0.77 → 0.83