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IP

International Paper Company

IP

International Paper Company • NYSE
$39.48 ▲ 0.30% (+0.12)
Market Cap $20.85 B
52w High $60.15
52w Low $35.56
Dividend Yield 1.85%
P/E -33.46
Volume 1.63M
Outstanding Shares 528.04M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $6.222B ▼ $2.361B ▲ $-1.102B ▼ -17.711% ▼ $-2.09 ▼ $424M ▼
Q2-2025 $6.767B ▲ $1.685B ▲ $75M ▲ 1.108% ▲ $0.14 ▲ $739M ▲
Q1-2025 $5.901B ▲ $1.677B ▲ $-105M ▲ -1.779% ▲ $-0.24 ▲ $569M ▲
Q4-2024 $4.58B ▼ $1.402B ▲ $-147M ▼ -3.21% ▼ $-0.42 ▼ $383M ▼
Q3-2024 $4.686B $1.169B $150M 3.201% $0.43 $453M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $995M ▼ $40.568B ▼ $23.251B ▼ $17.317B ▼
Q2-2025 $1.135B ▼ $42.376B ▲ $23.759B ▲ $18.617B ▲
Q1-2025 $1.156B ▼ $41.168B ▲ $23.076B ▲ $18.092B ▲
Q4-2024 $1.17B ▲ $22.8B ▼ $14.627B ▲ $8.173B ▼
Q3-2024 $1.159B $23.161B $14.532B $8.629B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-426M ▼ $605M ▲ $-440M ▼ $-302M ▼ $-1.135B ▲ $150M ▲
Q2-2025 $75M ▲ $476M ▲ $-275M ▼ $-274M ▼ $-1.156B ▼ $54M ▲
Q1-2025 $-105M ▲ $-288M ▼ $237M ▲ $21M ▲ $-14M ▼ $-618M ▼
Q4-2024 $-147M ▼ $397M ▼ $-174M ▲ $-187M ▲ $11M ▼ $137M ▼
Q3-2024 $150M $521M $-188M $-223M $110M $309M

Revenue by Products

Product Q2-2024Q3-2024Q4-2024Q1-2025
Global Cellulose Fibers
Global Cellulose Fibers
 $720.00M ▲$710.00M ▼$660.00M ▼$640.00M ▼
Packaging Solutions EMEA
Packaging Solutions EMEA
 $0 ▲$0 ▲$0 ▲$1.55Bn ▲
Packaging Solutions North America
Packaging Solutions North America
 $0 ▲$0 ▲$0 ▲$3.70Bn ▲
EMEA Industrial Packaging
EMEA Industrial Packaging
 $330.00M ▲$320.00M ▼$360.00M ▲$0 ▼
North American Industrial Packaging
North American Industrial Packaging
 $3.63Bn ▲$3.64Bn ▲$3.54Bn ▼$0 ▼
Corporate and Other
Corporate and Other
 $90.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Over the past few years, IP’s sales have been fairly steady, but profits have been much more up and down. Earnings were strong coming out of the pandemic, then margins were squeezed as costs rose and demand softened. More recently, profit levels have improved compared with the weakest year but are still below the highs reached a few years ago. Overall, this looks like a mature, cyclical business where small changes in pricing, volume, or costs can have a big impact on the bottom line, even when sales don’t move dramatically.

Balance Sheet

Balance Sheet The balance sheet shows a large, established industrial company that has gradually strengthened its finances. Debt has come down meaningfully from earlier in the decade and has been kept relatively stable in recent years, while shareholders’ equity has been broadly steady. Cash on hand is moderate rather than heavy, suggesting the company runs a fairly efficient but not overly conservative balance sheet. In simple terms, leverage looks manageable, and IP appears to have more financial flexibility today than it did several years ago.

Cash Flow

Cash Flow IP consistently generates positive cash flow from its operations, which is a key strength. After covering capital spending on its mills and equipment, there is still cash left over each year, though this free cash flow has trended lower compared with the early part of the period. The company has clearly been reinvesting more into its asset base at times, which temporarily pressures free cash flow but can support efficiency and growth over the long run. Overall, this is a cash-generative business, but one where investment needs and industry cycles can cause swings in how much excess cash is available in any given year.

Competitive Edge

Competitive Edge International Paper holds a strong position in packaging, supported by its massive scale, integrated operations, and long-standing customer relationships. Controlling much of the chain from fiber to finished box gives it cost and supply advantages, especially versus smaller players. Its broad mill and converting network also provides logistical strength. The brand is well known for reliability, and the company often embeds itself deeply in customers’ packaging and supply-chain decisions, which makes it harder for those customers to switch suppliers. At the same time, the business remains exposed to global box demand, input cost volatility, and competition from other large packaging firms, so its edge is meaningful but not immune to industry pressure.

Innovation and R&D

Innovation and R&D IP is not a classic tech R&D story, but it is clearly innovating within packaging. It is leaning into lighter, more sustainable fiber-based packaging to replace plastics, while working on coatings and designs that meet demanding food and e-commerce needs. On the operations side, it is pushing “smart mill” concepts, using sensors, automation, and digital tools to squeeze out cost and improve reliability. The company is also experimenting with intelligent packaging features, such as codes and tracking technologies, to add service value beyond the box itself. The planned integration of DS Smith should deepen its design capabilities and expand its portfolio of eco-friendly solutions, although integrations of this scale carry execution risk. Future innovation seems focused squarely on sustainability, material science, and advanced manufacturing rather than on traditional laboratory-style R&D alone.

Summary

Overall, IP looks like a large, established packaging player with solid cash generation, a reasonably strengthened balance sheet, and a durable but cyclical earnings profile. Its main advantages come from size, integration, and customer relationships, while its main challenges stem from exposure to economic cycles, commodity costs, and the need to keep mills and plants competitive. The strategic shift toward being a more focused packaging company, combined with investments in sustainability and smart manufacturing, could support longer-term resilience and differentiation. However, success will depend on execution: managing integration of new assets, keeping debt at comfortable levels, and translating innovation efforts into consistently stronger margins over time.

NEWS

November 14, 2025 · 12:30 PM UTC

International Paper Announces Closures of Compton, California and Louisville, Kentucky Packaging Facilities as Part of Strategic Growth Initiative in North America

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November 4, 2025 · 5:05 PM UTC

International Paper CFO to Speak at the Citi 2025 Basic Materials Conference

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October 30, 2025 · 7:00 AM UTC

International Paper Reports Third Quarter 2025 Results

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October 17, 2025 · 10:09 AM UTC

ProAmpac Acquires International Paper's Bag Converting Operations

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October 16, 2025 · 4:05 PM UTC

International Paper CEO to Speak at Baird 2025 Global Industrial Conference

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