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International Paper Company (IP) financials

For the twelve months ended Sep 30, 2026, International Paper Company reported $24.18B of revenue and -$3.46B of net income.

Revenue, TTM
$24.18B
Revenue growth, YoY
+12.2%
Net income, TTM
-$3.46B
Net margin
-14.3%
Free cash flow, TTM
$75.00M
EPS, diluted, TTM
-$6.56
Cash
$815.00M
Total debt
$9.69B
P/S
0.75
Market cap
$18.13B
Annual revenue$23.63B
FY2016FY2025
Annual net income-$3.52B
FY2016FY2025
Annual free cash flow-$159.00M
FY2016FY2025

IP revenue and earnings growth

IP revenueQ3 2026$6.20B

Quarter YoY
-0.4%
QoQ
+3.2%
FY YoY
+49.3%
5Y CAGR
+6.1%
10Y CAGR
+1.3%

IP revenue was $6.20B in fiscal Q3 2026 (ended Sep 30, 2026), down 0.4% from a year earlier and up 3.2% from the prior quarter. For the full fiscal 2025 it was $23.63B, up 49.3% from fiscal 2024. Compound annual growth was +6.1% over 5 years and +1.3% over 10 years. It rose in 5 of the last 10 fiscal years.

IP net incomeQ3 2026-$1.13B

IP net income was -$1.13B in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$1.10B a year earlier. For the full fiscal 2025 it was -$3.52B, compared with $557.00M in fiscal 2024.

IP EPSQ3 2026-$2.13

IP diluted EPS was -$2.13 in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$2.09 a year earlier. For the full fiscal 2025 it was -$6.95.

IP free cash flowQ3 2026-$267.00M

IP free cash flow was -$267.00M in fiscal Q3 2026 (ended Sep 30, 2026), compared with $150.00M a year earlier. For the full fiscal 2025 it was -$159.00M, compared with $757.00M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$23.63B$15.84B$16.03B$21.16B$19.36B$17.57B$18.32B$23.31B$21.74B$19.50B
Cost of revenue$16.64B$11.40B$11.51B$15.14B$13.83B$12.34B$12.67B$15.55B$14.80B$14.06B
Gross profit$7.00B$4.44B$4.52B$6.02B$5.53B$5.23B$5.65B$7.75B$6.94B$5.44B
Selling, general and admin$2.05B$1.70B$1.26B$1.29B$1.39B$1.35B$1.45B$1.72B$1.62B$1.46B
Interest expense$551.00M$432.00M$418.00M$403.00M$430.00M$597.00M$701.00M$734.00M$758.00M$695.00M
Pre-tax income-$3.37B$369.00M$402.00M$1.51B$999.00M$329.00M$921.00M$1.78B$848.00M$795.00M
Income tax-$533.00M-$361.00M$68.00M-$236.00M$188.00M$176.00M$477.00M$445.00M-$1.08B$193.00M
Net income-$3.52B$557.00M$288.00M$1.50B$1.75B$482.00M$1.23B$2.01B$2.14B$904.00M
EPS, basic-$6.95$1.60$0.83$4.14$4.50$1.23$3.10$4.91$5.19$2.20
EPS, diluted-$6.95$1.57$0.82$4.10$4.47$1.22$3.07$4.85$5.13$2.18
Diluted shares505.7M354.2M349.1M367.0M392.4M395.7M398.8M414.2M417.7M415.6M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$1.15B$1.06B$1.11B$804.00M$1.29B$595.00M$511.00M$589.00M$1.02B$1.03B
Inventory$2.01B$1.49B$1.89B$1.94B$1.81B$1.63B$2.21B$2.24B$2.31B$2.23B
Current assets$10.11B$6.42B$6.61B$6.77B$7.10B$11.24B$6.64B$7.00B$8.28B$6.67B
Goodwill$5.33B$3.04B$3.04B$3.04B$3.13B$3.12B$3.11B$3.37B$3.41B$3.36B
Total assets$37.96B$22.80B$23.26B$23.94B$25.24B$31.72B$33.47B$33.58B$33.90B$33.09B
Current liabilities$7.90B$4.26B$3.96B$5.00B$4.14B$8.28B$8.65B$4.69B$5.10B$4.07B
Short-term debt$992.00M$191.00M$138.00M$763.00M$196.00M$26.00M$168.00M$639.00M$311.00M$239.00M
Long-term debt$8.84B$5.36B$5.46B$4.82B$5.38B$8.04B$9.60B$10.02B$10.85B$11.07B
Total debt$9.83B$5.55B$5.59B$5.58B$5.58B$8.07B$9.77B$10.65B$11.16B$11.31B
Total liabilities-$14.63B$14.91B$15.44B$16.16B$23.85B$25.75B$26.19B$27.36B$28.73B
Shareholders' equity$14.83B$8.17B$8.36B$8.50B$9.08B$7.87B$7.72B$7.38B$6.54B$4.36B

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow$1.70B$1.68B$1.83B$2.17B$2.03B$3.06B$3.61B$3.23B$1.76B$2.48B
Capital expenditures$1.86B$921.00M$1.14B$931.00M$480.00M$663.00M$1.14B$1.57B$1.28B$1.24B
Free cash flow-$159.00M$757.00M$692.00M$1.24B$1.55B$2.40B$2.47B$1.65B$477.00M$1.24B
Investing cash flow-$1.02B-$808.00M-$668.00M-$608.00M$6.05B-$269.00M-$1.30B-$1.57B-$1.39B-$3.50B
Financing cash flow-$708.00M-$775.00M-$866.00M-$2.05B-$7.38B-$2.70B-$2.39B-$2.05B-$399.00M$982.00M
Dividends paid$977.00M$643.00M$642.00M$673.00M$780.00M$806.00M$796.00M$789.00M$769.00M$733.00M
Share repurchases$65.00M$23.00M$218.00M$1.28B$839.00M$42.00M$535.00M$732.00M$47.00M$132.00M
Depreciation and amortization$2.75B$851.00M$1.15B$1.04B$1.10B$1.09B$1.07B$1.33B$1.34B$1.12B

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY49.3%-1.2%-24.2%9.3%10.2%-4.1%-21.4%7.2%11.5%-5.7%
Net income growth, YoY-93.4%-80.9%-14.2%263.5%-60.7%-39.1%-6.2%137.2%-3.6%
EPS growth, YoY-91.5%-80.0%-8.3%266.4%-60.3%-36.7%-5.5%135.3%-2.2%
Gross margin29.6%28.0%28.2%28.4%28.6%29.8%30.8%33.3%31.9%27.9%
Net margin-14.9%3.5%1.8%7.1%9.0%2.7%6.7%8.6%9.9%4.6%
Free cash flow margin-0.7%4.8%4.3%5.9%8.0%13.7%13.5%7.1%2.2%6.3%
Return on equity-23.7%6.8%3.4%17.7%19.3%6.1%15.9%27.3%32.8%20.7%
Return on assets-9.3%2.4%1.2%6.3%6.9%1.5%3.7%6.0%6.3%2.7%
Current ratio1.281.511.671.351.711.360.771.491.621.64
Debt to equity0.660.680.670.660.611.031.271.441.712.60

Source: XBRL data International Paper Company files with the SEC, latest filing dated Nov 4, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

IP peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
IP$24.18B+12.2%-$3.46B-14.3%$18.13B
SUZR$50.12B+5.7%R$13.41B26.8%$12.01B
SLVM$3.30B-7.1%$76.00M2.3%$1.31B
MATV$1.97B-0.4%$91.50M4.6%$682.1M
RYAM$1.50B+1.9%-$365.25M-24.4%$439.0M
MAGN$3.28B+21.8%-$112.00M-3.4%$433.5M
CLW$1.51B-3.2%$2.40M0.2%$224.2M
MERC$1.84B-3.5%-$495.88M-27.0%$16.8M

IP FAQ

9 questions
  • What is IP revenue?
    International Paper Company (IP) reported $24.18B of revenue for the twelve months ended Sep 30, 2026. That is up 12.2% from the year before. Revenue for fiscal 2025 was $23.63B.
  • Is IP profitable?
    No. International Paper Company reported a net loss of $3.46B for the twelve months ended Sep 30, 2026.
  • How much cash and debt does IP have?
    International Paper Company reported $815.00M in cash and cash equivalents and $9.69B of debt on its most recent balance sheet in SEC filings.
  • How fast is IP revenue growing?
    International Paper Company's revenue changed +49.3% in fiscal 2025, to $23.63B. Its compound annual growth rate was +6.1% over 5 years and +1.3% over 10 years.
  • What is IP gross margin?
    International Paper Company's gross profit was $7.20B on $24.18B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 29.8%.
  • What is IP free cash flow?
    International Paper Company generated $75.00M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $2.38B less capital expenditures.
  • What is IP earnings per share?
    Diluted earnings per share were -$6.56 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did IP last report financial results?
    The latest statements here come from International Paper Company's 10-Q filed on Nov 4, 2026, covering the period ended Sep 30, 2026.
  • Where does this IP financial data come from?
    Quantisnow builds these statements from the structured XBRL data International Paper Company files with the SEC. It is provided for information only and is not investment advice.