Mercer International Inc. (MERC) Financial Statements
Industry: Pulp Mills
In fiscal 2025, Mercer International reported revenue of $1.87B, down 8.6% from $2.04B the year before. Net income was -$497.9M (a -26.7% net margin), or -$7.44 per diluted share. Operating margin was -21.3%. Operating activities generated $8.6M of cash, leaving -$80.0M of free cash flow. At fiscal year end, Mercer International held $2.04B in total assets against $1.97B in total liabilities, including $186.8M of cash and equivalents.
Open the full interactive Mercer International financials → Quarterly statements, key ratios, valuation history and price charts.
Mercer International Key Stats
| Share Price | $0.19 |
|---|---|
| Market Cap | $12.7M |
| Revenue YoY Growth | -8.6% |
| 52-Week Range | $0.19 – $2.79 |
| Shares Outstanding | 67.0 million (basic, 2026 Q2) |
Mercer International Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $1.42B | $1.80B | $2.28B | $1.99B | $2.04B | $1.87B |
| Operating Income | $63.7M | $346.6M | $392.4M | -$188.8M | $15.0M | -$397.7M |
| Pre-Tax Income | -$11.1M | $260.6M | $345.3M | -$269.8M | -$86.9M | -$511.2M |
| Income Tax | $6.1M | $89.6M | $98.3M | -$27.8M | -$1.8M | -$13.3M |
| Net Income | -$17.2M | $171.0M | $247.0M | -$242.1M | -$85.1M | -$497.9M |
| Diluted EPS | -$0.26 | $2.58 | $3.71 | -$3.65 | -$1.27 | -$7.44 |
Mercer International Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $458.1M | $449.5M | $489.3M | $460.3M |
| Net Income | -$80.8M | -$308.7M | -$52.0M | -$76.0M |
| Diluted EPS | -$1.21 | -$4.61 | -$0.78 | -$1.13 |
Mercer International Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $361.1M | $345.6M | $354.0M | $314.0M | $184.9M | $186.8M |
| Current Assets | $874.9M | $1.06B | $1.18B | $1.09B | $910.0M | $865.8M |
| Total Assets | $2.13B | $2.35B | $2.73B | $2.66B | $2.26B | $2.04B |
| Current Liabilities | $211.8M | $283.1M | $378.1M | $286.4M | $256.5M | $283.6M |
| Total Long-Term Debt | $1.15B | $1.24B | $1.35B | $1.61B | $1.47B | $1.61B |
| Total Liabilities | $1.53B | $1.66B | $1.89B | $2.03B | $1.83B | $1.97B |
| Shareholders' Equity | $601.0M | $694.0M | $838.8M | $635.4M | $429.8M | $68.1M |
Mercer International Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $41.6M | $182.2M | $360.7M | -$69.0M | $90.2M | $8.6M |
| Cash From Investing | -$59.8M | -$187.1M | -$425.7M | -$199.9M | -$67.0M | -$81.3M |
| Cash From Financing | $26.3M | -$9.5M | $82.0M | $228.6M | -$152.8M | $79.8M |
| Free Cash Flow | -$37.0M | $22.8M | $181.9M | -$205.3M | $5.9M | -$80.0M |
Figures from Mercer International'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 Mercer International financials page for every line item.
Mercer International Company Profile
| Ticker | MERC |
|---|---|
| Exchange | Nasdaq |
| Industry | Pulp Mills |
| Headquarters | Vancouver, British Columbia, Canada |
| Incorporated in | Washington |
| Fiscal Year End | December 31 |
| SEC Filer Category | Accelerated filer |
| SEC CIK | 0001333274 |
Frequently Asked Questions
What was Mercer International's revenue in fiscal 2025?
Mercer International (MERC) reported revenue of $1.87B for fiscal 2025.
What is Mercer International's annual revenue history?
Mercer International's annual revenue by fiscal year: 2020: $1.42B; 2021: $1.80B; 2022: $2.28B; 2023: $1.99B; 2024: $2.04B; 2025: $1.87B.
What was Mercer International's net income in fiscal 2025?
Mercer International reported net income of -$497.9M for fiscal 2025.
What was Mercer International's earnings per share (EPS) in fiscal 2025?
Mercer International's diluted EPS was -$7.44 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Mercer International generate in fiscal 2025?
Mercer International generated -$80.0M of free cash flow in fiscal 2025.
What was Mercer International's revenue last quarter?
In its most recent reported quarter (2026 Q2), Mercer International reported revenue of $460.3M.
How much debt does Mercer International have?
Mercer International reported $1.61B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Mercer International are outstanding?
Mercer International reported a weighted average of 67.0 million basic shares outstanding in 2026 Q2.
What is Mercer International's market cap?
Based on its latest closing price, Mercer International (MERC) has a market capitalization of about $12.7M.
When does Mercer International's fiscal year end?
Mercer International's fiscal year end, as registered with the SEC, is December 31.
Where is Mercer International headquartered?
Mercer International lists its business address in Vancouver, British Columbia, Canada in its SEC filings.