Clearwater Paper Corp (CLW) Financial Statements
Industry: Paperboard Mills
In fiscal 2025, Clearwater Paper reported revenue of $1.56B, up 12.4% from $1.38B the year before. Net income was -$18.6M (a -1.2% net margin), or -$1.15 per diluted share. Gross margin was 7.4% and operating margin was -2.7%. Operating activities generated $12.3M of cash, leaving -$76.5M of free cash flow. At fiscal year end, Clearwater Paper held $1.59B in total assets against $763.0M in total liabilities, including $30.7M of cash and equivalents.
Open the full interactive Clearwater Paper financials → Quarterly statements, key ratios, valuation history and price charts.
Clearwater Paper Key Stats
| Share Price | $19.59 |
|---|---|
| Market Cap | $315.9M |
| Revenue YoY Growth | +12.4% |
| 52-Week Range | $12.44 – $23.31 |
| Shares Outstanding | 16.1 million (basic, 2026 Q2) |
Clearwater Paper Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $1.87B | $1.77B | $2.08B | $2.08B | $1.38B | $1.56B |
| Cost of Goods Sold | $1.57B | $1.59B | $1.82B | $1.75B | $1.31B | $1.44B |
| Gross Profit | $294.2M | $182.6M | $256.7M | $330.8M | $76.1M | $115.6M |
| Operating Income | $158.1M | $12.0M | $113.9M | $177.1M | -$64.5M | -$42.1M |
| Pre-Tax Income | $98.2M | -$35.8M | $73.0M | $144.1M | $169.2M | -$25.7M |
| Income Tax | $21.1M | -$7.7M | $27.0M | $36.4M | -$27.1M | -$7.1M |
| Net Income | $77.1M | -$28.1M | $46.0M | $107.7M | $196.3M | -$18.6M |
| Diluted EPS | $4.61 | -$1.67 | $2.68 | $6.30 | $11.70 | -$1.15 |
Clearwater Paper Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $399.0M | $386.4M | $360.3M | $374.8M |
| Net Income | -$53.3M | $38.3M | -$12.8M | -$21.5M |
| Diluted EPS | -$3.30 | $2.37 | -$0.80 | -$1.33 |
Clearwater Paper Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $35.9M | $25.2M | $53.7M | $42.0M | $79.6M | $30.7M |
| Current Assets | $474.9M | $487.2M | $586.3M | $564.1M | $545.4M | $526.0M |
| Total Assets | $1.80B | $1.69B | $1.70B | $1.67B | $1.68B | $1.59B |
| Current Liabilities | $244.8M | $254.1M | $312.0M | $286.0M | $320.4M | $216.2M |
| Total Long-Term Debt | $718.1M | $639.2M | $565.8M | $463.1M | $282.2M | $346.1M |
| Total Liabilities | $1.28B | $1.18B | $1.13B | $1.00B | $824.7M | $763.0M |
| Shareholders' Equity | $521.1M | $511.7M | $572.1M | $668.8M | $854.6M | $825.3M |
Clearwater Paper Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $247.0M | $96.4M | $150.2M | $190.7M | $61.4M | $12.3M |
| Cash From Investing | -$39.6M | -$25.1M | -$33.5M | -$73.7M | $167.7M | -$100.4M |
| Cash From Financing | -$192.9M | -$82.0M | -$88.6M | -$129.4M | -$191.4M | $39.3M |
| Free Cash Flow | $207.4M | $58.0M | $116.7M | $117.0M | -$55.2M | -$76.5M |
Figures from Clearwater Paper's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Clearwater Paper financials page for every line item.
Clearwater Paper Company Profile
| Ticker | CLW |
|---|---|
| Exchange | NYSE |
| Industry | Paperboard Mills |
| Headquarters | Spokane, Washington |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Accelerated filer |
| SEC CIK | 0001441236 |
Frequently Asked Questions
What was Clearwater Paper's revenue in fiscal 2025?
Clearwater Paper (CLW) reported revenue of $1.56B for fiscal 2025.
What is Clearwater Paper's annual revenue history?
Clearwater Paper's annual revenue by fiscal year: 2020: $1.87B; 2021: $1.77B; 2022: $2.08B; 2023: $2.08B; 2024: $1.38B; 2025: $1.56B.
What was Clearwater Paper's net income in fiscal 2025?
Clearwater Paper reported net income of -$18.6M for fiscal 2025.
What was Clearwater Paper's earnings per share (EPS) in fiscal 2025?
Clearwater Paper's diluted EPS was -$1.15 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Clearwater Paper generate in fiscal 2025?
Clearwater Paper generated -$76.5M of free cash flow in fiscal 2025.
What was Clearwater Paper's revenue last quarter?
In its most recent reported quarter (2026 Q2), Clearwater Paper reported revenue of $374.8M.
How much debt does Clearwater Paper have?
Clearwater Paper reported $346.1M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Clearwater Paper are outstanding?
Clearwater Paper reported a weighted average of 16.1 million basic shares outstanding in 2026 Q2.
What is Clearwater Paper's market cap?
Based on its latest closing price, Clearwater Paper (CLW) has a market capitalization of about $315.9M.
When does Clearwater Paper's fiscal year end?
Clearwater Paper's fiscal year end, as registered with the SEC, is December 31.
Where is Clearwater Paper headquartered?
Clearwater Paper lists its business address in Spokane, Washington in its SEC filings.