Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $932M | $1.17B | $1.46B | $1.62B | $1.42B | $1.80B | $2.28B | $1.99B | $2.04B | $1.87B |
| Revenue growth | — | 25.5% | 24.7% | 11.4% | -12.4% | 26.7% | 26.5% | -12.6% | 2.5% | -8.6% |
| Operating income | $115M | $169M | $268M | $84.0M | $63.7M | $347M | $392M | -$189M | $15.0M | -$398M |
| Operating margin | 12.4% | 14.4% | 18.4% | 5.2% | 4.5% | 19.2% | 17.2% | -9.5% | 0.7% | -21.3% |
| Net income | $34.9M | $70.5M | $129M | -$9.64M | -$17.2M | $171M | $247M | -$242M | -$85.1M | -$498M |
| Net margin | 3.8% | 6.0% | 8.8% | -0.6% | -1.2% | 9.5% | 10.8% | -12.1% | -4.2% | -26.7% |
| EPS (diluted) | $0.54 | $1.08 | $1.96 | -$0.15 | -$0.26 | $2.58 | $3.71 | -$3.65 | -$1.27 | -$7.44 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $141M | $142M | $237M | $244M | $41.6M | $182M | $361M | -$69.0M | $90.2M | $8.59M |
| Capital expenditures | $42.5M | $57.9M | $87.0M | $132M | $78.5M | $159M | $179M | $136M | $84.3M | $88.6M |
| Free cash flow | $98.3M | $84.0M | $150M | $112M | -$37.0M | $22.8M | $182M | -$205M | $5.89M | -$80.0M |
| Share buybacks | — | — | $0.00 | $754K | $162K | $0.00 | — | — | — | — |
| Dividends paid | $29.7M | $29.9M | $40.7M | $35.3M | $21.9M | $17.2M | $19.8M | $19.9M | $20.1M | $10.0M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $137M | $143M | $240M | $351M | $361M | $346M | $354M | $314M | $185M | $187M |
| Total assets | $1.16B | $1.72B | $1.98B | $2.07B | $2.13B | $2.35B | $2.73B | $2.66B | $2.26B | $2.04B |
| Total liabilities | $780M | $1.17B | $1.39B | $1.52B | $1.53B | $1.66B | $1.89B | $2.03B | $1.83B | $1.97B |
| Long-term debt | $618M | $663M | $1.04B | $1.09B | $1.19B | $1.24B | $1.35B | $1.61B | $1.47B | $1.61B |
| Shareholders' equity | $379M | $551M | $581M | $550M | $601M | $694M | $839M | $635M | $430M | $68.1M |
| Retained earnings | $166M | $206M | $302M | $256M | $217M | $371M | $598M | $336M | $231M | -$277M |
| Shares (wtd avg diluted) | 65.1M | 65.4M | 65.8M | 65.6M | 65.8M | 66.3M | 66.6M | 66.4M | 66.8M | 66.9M |
Every figure is extracted from MERCER INTERNATIONAL INC.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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