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IP

INTERNATIONAL PAPER CO /NEW/

Industrials • CIK: 0000051434

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Market Cap
$19.42B
P/E (TTM)
-520.3x
Rev Growth (TTM)
Net Margin (TTM)
FCF Yield (TTM)
FCF Margin (TTM)
5.0%

LATEST EARNINGS

Q4 FY2025
29 days ago
View source
Revenue
$6.01B
+53.1%
Net Income
$-2.36B
-2798.9%
EPS
$-4.48
-1892.0%
Net
-10.0% -12.2%
  • Full-year 2025 Adjusted EBITDA from continuing operations was $2.98 billion, an increase from $1.64 billion in the prior year.
  • Fourth quarter 2025 Adjusted EBITDA from continuing operations was $0.76 billion, an increase from $0.44 billion in the prior year.
  • Packaging Solutions North America operating profit improved to $319 million in Q4 2025 from a loss of $166 million in Q3 2025.
  • Management anticipates full-year 2026 Adjusted EBITDA between $3.5-$3.7 billion and Q1 2026 Adjusted EBITDA between $0.74-$0.76 billion.

Cash Flow Health

Free Cash Flow7/8 positive
TTM$1.1B
Q2 '25
$476M+265%
Q1 '25
$-288M-173%
FCF Margin
TTM5.0%
Q2 '257.0%+244%
Sector: 7.3%Below Avg
OCF Margin
OCF/NI
CapEx Coverage
FCF Yield
FCF Growth (2Y)
Cash Conversion Cycle

Capital Allocation & Returns

Shareholder Friendly
Total Shareholder YieldEst.
Est.5.0%
Div Yield4.0%
+
Est. Buyback1.0%

Strong capital returns to shareholders

Dividend & Payout Metrics
Dividend Yield (TTM)4.0%
FCF Payout Ratio69.4%
Free Cash Flow (TTM)$1.1B
Stock Repurchases ()$64.0M
Est. Dividends Paid (TTM)$767.1M
Estimated: Buyback data estimated from FCF. Actual repurchase data not available for this company.
Shows how management rewards shareholders

Operational Efficiency & Returns

Return on Invested CapitalTTM
3.6%
P25MedianP75
75th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
2.6%
Asset Turnover
0.73x
Leverage (1+D/E)
1.53x
D/E: 0.53x
DuPont: 2.9%3.6% ROIC
Asset & CapEx Efficiency
Invested Cap Turn
1.38x
8Q:
Asset-based ROIC formula

QUARTERLY TRENDS

Last 8 quarters + TTM

MetricTTMQ2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023
Revenue
$21.9B
$6.8B14.7%
$5.9B28.8%
$4.6B2.3%
$4.7B1.0%
$4.7B2.5%
$4.6B0.4%
$4.6B0.3%
$4.6B
Operating Income
$4.1B
$1.3B18.1%
$1.1B58.4%
$2.7B1028.7%
$237.0M26.4%
$322.0M90.5%
$169.0M94.2%
$2.9B733.8%
$352.0M
Net Income
$-23.0M
$75.0M171.4%
$-105.0M28.6%
$-147.0M198.0%
$150.0M69.9%
$498.0M789.3%
$56.0M119.7%
$-284.0M272.1%
$165.0M
Operating Cash Flow
$1.1B
$476.0M265.3%
$-288.0M172.5%
$397.0M23.8%
$521.0M42.7%
$365.0M7.6%
$395.0M19.7%
$492.0M5.1%
$468.0M
Free Cash Flow
$1.1B
$476.0M265.3%
$-288.0M172.5%
$397.0M23.8%
$521.0M42.7%
$365.0M7.6%
$395.0M19.7%
$492.0M5.1%
$468.0M
Total Equity
N/A

Valuation Analysis

Fair Value
Price-to-EarningsTTM
-520.3x
Valuation Lenses
Earnings
-520.3x
vs sector
Cash Flow
28.9x
EV/FCF vs
Growth-Adj
PEG
N/A
Quality-Adj
P/E per %ROIC
ROIC: 3.6%
Shareholder Returns
Dividend
4.0%
Buyback
Total Yield
Market Cap$19.42B
EV
Multi-angle valuation analysis with sector context

Business Quality & Moat

Overall Quality Score
18/100
Below Average

Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)

Returns on Capital

Return on Equity (ROE)
8Q:
Return on Invested Capital (ROIC)Top 25%
3.6%
8Q:
vs Sector:0.1%

DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)

NOPAT Margin: 2.6%
Asset Turnover: 0.73x

Earnings Quality

Cash Conversion

OCF / Net Income

FCF Consistency

Positive quarters

Competitive Moat Indicators

Pricing Power

Gross Margin28.3%

Capital Efficiency

Invested Capital Turnover1.38x

Working Capital

Cash Conversion Cycle

Growth Quality & Momentum

Growth Rates

Revenue Growth YoY
N/A
OpInc Growth YoY
307.8%
EPS Growth YoY
N/A
FCF 3Y CAGR
N/A

Margin Quality & Sustainability

Moderate
Profitability Cascade
Gross
28.3%
Operating
18.6%
Above Avg in sector
Net
Margins Unknown
Earnings Quality Signals
SBC / Revenue
FCF vs Net Gap
FCF: 5.0% | Net:

Quality = stability + cash conversion + low dilution

Balance Sheet & Solvency

Adequate
Net Debt / EBITDA
Net Debt: $8.78B
Interest Coverage
Leverage Metrics
Debt-to-Equity
0.53x
Balance sheet risk & solvency analysis