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International Paper (IP) stock

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OTC: IP OTC Paper & Plastic Packaging Products & Materials Next results ~January 28, 2027

C Fundamentals grade

International Paper is a US-listed company in the paper & plastic packaging products & materials industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: after-tax interest is 51% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

Price vs value

Under review: after-tax interest is 51% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy. We'll show the comparison once resolved.

International Paper valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter International Paper files

Where International Paper stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $24.2bn, up 25.4% on a year earlier, slower than 41.6% a quarter earlier. That growth ranks 132 of 931 among all the companies we cover. Free-cash-flow margin rose to 2.0% from -0.6% a year earlier. The diluted share count is up 25.4% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 1 of our 1 financial-health checks.

Our model value for International Paper is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 5, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 28, 2027 (estimated)

International Paper's trailing-twelve-month revenue grew 25.4% year on year, with a free-cash-flow margin of 2.0%. Where it stands out: revenue growth of 25.4% ranks 2 of 11 paper & plastic packaging products & materials companies we cover. Where it lags: change in growth rate of -16.3pp ranks 10 of 11 paper & plastic packaging products & materials companies we cover.

Our discounted-cash-flow model values the business at ~$38 per share in the base case (~$25–$55 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth decelerating: TTM revenue growth slowed to 25.4% (-16.3pp vs the prior quarter), the 3rd consecutive quarterly slowdown.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 25.4% over the last 12 months, against a median of 3.6% for paper & plastic packaging products & materials companies we cover.

Things to watch

  • Growth slowing. The growth rate is 16.3 points lower than a quarter earlier.
  • Share dilution. Diluted shares rose 25.4% in a year.
  • Below peers: net margin. Net margin of -14.2% ranks 10 of 11 paper & plastic packaging products & materials companies we cover (median 1.6%).
  • Below peers: free-cash-flow margin. Free-cash-flow margin of 2.0% ranks 10 of 11 paper & plastic packaging products & materials companies we cover (median 4.8%).
  • Heavily shorted. 16.2% of the shares available to trade are sold short (8.2 days of average volume to cover).
  • Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 10.2% over 90 days.

Latest results: FY2026 Q2

Filed August 5, 2026
Earnings per share
$0.37 against an average estimate of $0.29: beat by 29.5%
Revenue
$6.00bn, down 2.2% on a year earlier
Share reaction
+7.9% in the first session after the results on October 28, 2026, against 0.0% for the S&P 500
Guidance given
business segment operating profit $460m to $500m (Fourth quarter 2026); business segment operating profit $1.3bn to $1.4bn (Full-Year 2026)
Next report
January 28, 2027; average EPS estimate $0.42

International Paper's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.7%
  • 1 week+9.7%
  • 1 month+14.6%
  • This year-3.6%
  • 1 year-0.5%
  • 5 years-8.1%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$24.2B
Net margin
-14.2%
EPS (TTM, diluted)
$-6.51

Growth

Revenue growth
+25.4%
Change in growth rate
−16.3 pts
Share count change
+25.4%

Cash

Free cash flow (TTM)
$492M
FCF margin
2.0%
Stock pay % of revenue
0.5%

Earnings

Last results
October 28, 2026
Next results (est.)
January 28, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Guidance
  3. Insider trade
  4. Results
  5. Leadership

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

International Paper valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: after-tax interest is 51% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value International Paper as an operating company, with every model that fits that kind of business. Cost of equity 9%: the 10-year Treasury yield (4.9%) plus a beta of 0.91 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. — Does not apply: This model is withheld pending its input or assumption review.
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: This model is withheld pending its input or assumption review.
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$32 ~$26–$42 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$11 ~$6.9–$16 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$4.6 ~$4.0–$5.3 Left out: out of range vs price (0.12x)
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare International Paper with Paper & Plastic Packaging Products & Materials in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$22.39$32.90$37.22$26.90$32.14$36.59$37.87$29.14$32.11$49.88$37.99$36.64
Market value$9.4bn$13.7bn$15.5bn$11.1bn$12.8bn$14.5bn$14.9bn$10.7bn$11.2bn$17.7bn$19.2bn$19.4bn
+ Net debt (− = net cash)$8.2bn$10.3bn$10.1bn$10.1bn$9.3bn$7.5bn$4.3bn$4.8bn$4.5bn$4.5bn$8.7bn$8.5bn
Enterprise value$17.6bn$24.0bn$25.7bn$21.2bn$22.1bn$22.0bn$19.1bn$15.5bn$15.7bn$22.2bn$27.9bn$27.9bn
Multiples
Price / sales 0.5x0.7x0.7x0.5x0.7x0.8x0.8x0.5x0.7x1.1x0.8x0.8x
Price / earnings 10.0x15.1x7.3x5.5x10.5x30.0x8.5x7.1x38.9x31.7x——
Price / free cash flow 7.4x11.1x32.6x6.7x5.2x6.0x9.6x8.6x16.2x23.3x—39.4x
EV / EBITDA 5.0x———————————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

60 /100

Moderate moat

How hard International Paper's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 18.1% of total assets over 10 years.

  • Pricing power 7 / 20

    Gross margin has been a median 29.8%, moving by 5.7 percentage points (standard deviation) across 10 years.

  • Durability 12 / 20

    Operating margin has been a median 8.8%; its worst year was 7.4%.

  • Cash conversion 12 / 20

    Free cash flow was positive in 9 of 10 years, at a median 5.3% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 33.1% over five years; stock-based pay has been a median 0.6% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: January 28, 2027, before the open. Analysts expect revenue of $6.4bn and EPS of $0.42 (range $0.38 to $0.46) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.98 +589% $24.5bn +4%
Next $2.64 +170% $26.1bn +7%

Next year's EPS estimate has moved −10.2% in 90 days, across 9 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −28.1% on 90 days ago. In the last 30 days, 0 analysts raised International Paper's forecast and 5 cut it.

Consensus EPS forecast International Paper, last 90 days
$0.00 $1.00 $2.00 $3.00 $4.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.36 Current fiscal year, 60 days ago: $1.34 Current fiscal year, 30 days ago: $1.34 Current fiscal year, 7 days ago: $1.28 Current fiscal year, Now: $0.98 $0.98 Next fiscal year, 90 days ago: $2.94 Next fiscal year, 60 days ago: $2.99 Next fiscal year, 30 days ago: $3.02 Next fiscal year, 7 days ago: $3.09 Next fiscal year, Now: $2.64 $2.64

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.36$2.94
60 days ago $1.34$2.99
30 days ago $1.34$3.02
7 days ago $1.28$3.09
Now $0.98$2.64

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.29 $0.37 +29.5%
Jun 2026 −$0.04 $0.04 +205.4%
Mar 2026 $0.14 $0.15 +5.4%
Dec 2025 $0.25 −$0.08 −131.9%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 28, 2026
  • Business segment operating profit · Packaging Solutions North America Full-Year 2026 $1.3bn to $1.4bn
    “Full-Year 2026: $1.3-$1.4 billion” source
  • Adjusted EBITDA (non-GAAP) · Packaging Solutions North America Full-Year 2026 $2.27bn to $2.31bn Non-GAAP
    “Full-Year 2026: $2.27-$2.31 billion” source
  • Business segment operating profit · Packaging Solutions North America Fourth quarter 2026 $460m to $500m
    “Fourth quarter 2026: $460-$500 million” source
  • Adjusted EBITDA (non-GAAP) · Packaging Solutions North America Fourth quarter 2026 $700m to $740m Non-GAAP
    “Fourth quarter 2026: $700-$740 million” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

11 analysts, Oct 2026
Buy982%
Hold218%
Sell00%

Monthly trend

  1. Oct 202636211
  2. Sep 202637212
  3. Aug 202636312
  4. Jul 2026362112

Counts of recommendations published by analysts covering International Paper, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
16.2%
of tradable shares
Days to cover
8.25
at average volume
Short interest, 1 month
+1%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
0.2%
of shares
Employees
62,602
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −0.5%

$36.82 on October 31, 2025 to $36.64

ThenNowEffect
Revenue (last 12 months) $19.3bn $24.2bn +25.4%
P/S multiple 0.8x 0.8x −0.4%
Share count 421m 528m −20.3%

Biggest factor: share count. Loss-making at one end, so the split uses price/sales.

Last 3 years +20.9%

$30.30 on November 3, 2023 to $36.64

ThenNowEffect
Revenue (last 12 months) $20.2bn $24.2bn +19.6%
P/S multiple 0.5x 0.8x +50.7%
Share count 354m 528m −32.9%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
IP+4%−23%+10%+55%−24%−4%
Industry peers (median)+6%−15%−5%−6%−6%−2%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
IP50%58%42%58%42%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
IP−26%−35%−28%−18%−38%−40%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 55% from January 29, 2018 to March 23, 2020. Getting back needed a 124% gain, reached on April 15, 2021, 388 days after the low.

Price behaviour

52-week range
$28.62 – $47.45
From 52-week high
−22.8%
vs 50-day average
+5.1%
vs 200-day average
−0.1%
Volatility (1 year)
43%
Beta vs S&P 500
1.14

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
3 up, 9 down
typical move ±6.8%
After a week
4 up, 7 down
typical move ±7.2%
After a month
7 up, 4 down
typical move ±8.7%
Results releasedNext dayS&P 500 next day5 days21 days
October 28, 2026 +7.9% 0.0% — —
July 30, 2026 −4.2% +2.4% −4.9% −6.8%
April 30, 2026 −5.4% +1.3% −1.5% +1.8%
January 29, 2026 −2.8% −0.5% +6.9% +4.4%
October 30, 2025 −12.6% −0.8% −17.4% −10.3%
July 31, 2025 −13.5% −2.0% −10.4% −6.5%
April 30, 2025 −7.9% +0.7% −7.6% +1.3%
January 30, 2025 −4.1% 0.0% −3.9% −3.8%
October 31, 2024 +13.7% −1.5% +19.1% +20.2%
July 24, 2024 +0.7% −2.8% +1.2% +5.5%
April 25, 2024 −1.7% +0.6% +4.0% +33.5%
February 1, 2024 −6.6% +2.4% −2.6% +1.5%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

International Paper in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) International Paper
$10B $15B $20B $25B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $19.4B Revenue (TTM), FY23 Q4: $16B Revenue (TTM), FY24 Q1: $14.9B Revenue (TTM), FY24 Q2: $14.3B Revenue (TTM), FY24 Q3: $13.6B Revenue (TTM), FY24 Q4: $15.8B Revenue (TTM), FY25 Q1: $17.2B Revenue (TTM), FY25 Q2: $19.3B Revenue (TTM), FY25 Q3: $21.6B Revenue (TTM), FY25 Q4: $23.6B Revenue (TTM), FY26 Q1: $24.3B Revenue (TTM), FY26 Q2: $24.2B $24.2B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $19.4B
FY23 Q4 $16B
FY24 Q1 $14.9B
FY24 Q2 $14.3B
FY24 Q3 $13.6B
FY24 Q4 $15.8B
FY25 Q1 $17.2B
FY25 Q2 $19.3B
FY25 Q3 $21.6B
FY25 Q4 $23.6B
FY26 Q1 $24.3B
FY26 Q2 $24.2B
Revenue growth, TTM YoY International Paper
-50% 0% 50% 100% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -7.9% Revenue growth, TTM YoY, FY23 Q4: -24.2% Revenue growth, TTM YoY, FY24 Q1: -28.7% Revenue growth, TTM YoY, FY24 Q2: -29.5% Revenue growth, TTM YoY, FY24 Q3: -29.9% Revenue growth, TTM YoY, FY24 Q4: -1.2% Revenue growth, TTM YoY, FY25 Q1: 15.1% Revenue growth, TTM YoY, FY25 Q2: 35.3% Revenue growth, TTM YoY, FY25 Q3: 58.1% Revenue growth, TTM YoY, FY25 Q4: 49.3% Revenue growth, TTM YoY, FY26 Q1: 41.6% Revenue growth, TTM YoY, FY26 Q2: 25.4% 25.4%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -7.9%
FY23 Q4 -24.2%
FY24 Q1 -28.7%
FY24 Q2 -29.5%
FY24 Q3 -29.9%
FY24 Q4 -1.2%
FY25 Q1 15.1%
FY25 Q2 35.3%
FY25 Q3 58.1%
FY25 Q4 49.3%
FY26 Q1 41.6%
FY26 Q2 25.4%
Operating margin (TTM) International Paper
6% 8% 10% 12% FY13 Q4 FY14 Q3 FY15 Q2 FY16 Q3 Operating margin (TTM), FY13 Q4: 9.0% Operating margin (TTM), FY14 Q1: 7.2% Operating margin (TTM), FY14 Q2: 7.3% Operating margin (TTM), FY14 Q3: 7.8% Operating margin (TTM), FY14 Q4: 8.7% Operating margin (TTM), FY15 Q1: 11.2% Operating margin (TTM), FY15 Q2: 11.4% Operating margin (TTM), FY15 Q3: 10.7% Operating margin (TTM), FY15 Q4: 10.6% Operating margin (TTM), FY16 Q1: 10.4% Operating margin (TTM), FY16 Q2: 10.5% Operating margin (TTM), FY16 Q3: 11.1% 11.1%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY13 Q4 9.0%
FY14 Q1 7.2%
FY14 Q2 7.3%
FY14 Q3 7.8%
FY14 Q4 8.7%
FY15 Q1 11.2%
FY15 Q2 11.4%
FY15 Q3 10.7%
FY15 Q4 10.6%
FY16 Q1 10.4%
FY16 Q2 10.5%
FY16 Q3 11.1%
FCF margin (TTM) International Paper
-2% 0% 2% 4% 6% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 4.9% FCF margin (TTM), FY23 Q4: 4.3% FCF margin (TTM), FY24 Q1: 5.6% FCF margin (TTM), FY24 Q2: 5.2% FCF margin (TTM), FY24 Q3: 5.9% FCF margin (TTM), FY24 Q4: 4.8% FCF margin (TTM), FY25 Q1: -0.0% FCF margin (TTM), FY25 Q2: -0.6% FCF margin (TTM), FY25 Q3: -1.3% FCF margin (TTM), FY25 Q4: -0.7% FCF margin (TTM), FY26 Q1: 2.3% FCF margin (TTM), FY26 Q2: 2.0% 2.0%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 4.9%
FY23 Q4 4.3%
FY24 Q1 5.6%
FY24 Q2 5.2%
FY24 Q3 5.9%
FY24 Q4 4.8%
FY25 Q1 -0.0%
FY25 Q2 -0.6%
FY25 Q3 -1.3%
FY25 Q4 -0.7%
FY26 Q1 2.3%
FY26 Q2 2.0%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 23.4 25.2 26.0 21.9 23.5 23.6 20.7 19.5 21.7 23.3 18.3 17.6 19.4 21.2 16.0 15.8 23.6 24.2
Gross profit 8.1 6.7 7.1 7.2 7.2 7.4 6.9 — 6.9 7.8 5.6 5.2 5.5 6.0 4.5 4.4 7.0 7.2
EBITDA 3.8 3.1 3.5 3.3 3.6 3.5 3.5 — — — — — — — — — — —
Operating income 2.4 1.7 2.2 1.9 2.2 2.1 2.4 — — — — — — — — — — —
Net income 0.7 0.7 1.3 0.8 1.4 0.6 0.9 0.9 2.1 2.0 1.2 0.5 1.8 1.5 0.3 0.6 −3.5 −3.4
Diluted EPS $1.55 $1.59 $3.03 $1.80 $3.11 $1.29 $2.23 $2.18 $5.13 $4.85 $3.07 $1.22 $4.47 $4.10 $0.82 $1.57 −$6.95 −$6.51
Growth (year on year)
Revenue −5.9% +7.8% +3.4% −16.1% +7.5% +0.6% −12.5% −5.7% +11.5% +7.2% −21.4% −4.1% +10.2% +9.3% −24.2% −1.2% +49.3% +25.4%
EBITDA — −18.4% +12.9% −4.5% +9.8% −5.0% +1.8% — — — — — — — — — — —
Operating income — −28.6% +31.4% −12.8% +15.5% −7.8% +14.7% — — — — — — — — — — —
Net income — +4.2% +91.3% −39.9% +75.7% −60.2% +69.0% −3.6% +137.2% −6.2% −39.1% −60.7% +263.5% −14.2% −80.9% — −731.2% —
Diluted EPS — +2.6% +90.6% −40.6% +72.8% −58.5% +72.9% −2.2% +135.3% −5.5% −36.7% −60.3% +266.4% −8.3% −80.0% — −542.7% —
Margins
Gross margin 34.9% 26.6% 27.2% 33.2% 30.7% 31.2% 33.4% — 31.9% 33.3% 30.8% 29.8% 28.6% 28.4% 28.2% 28.0% 29.6% 29.8%
EBITDA margin 16.2% 12.2% 13.4% 15.2% 15.5% 14.7% 17.1% — — — — — — — — — — —
Operating margin 10.1% 6.7% 8.5% 8.8% 9.5% 8.7% 11.4% — — — — — — — — — — —
Net margin 2.8% 2.7% 5.1% 3.6% 5.9% 2.4% 4.5% 4.6% 9.9% 8.6% 6.7% 2.7% 9.0% 7.1% 1.8% 3.5% −14.9% −14.2%
Free-cash-flow margin 17.6% 3.4% 5.8% 7.2% 7.8% 7.2% 6.1% 6.3% 2.2% 7.1% 13.5% 13.7% 8.0% 5.9% 4.3% 4.8% −0.7% 2.0%
Cash flow
Cash from operations 4.7 1.6 2.7 3.0 3.0 3.1 2.6 2.5 1.8 3.2 3.6 3.1 2.0 2.2 1.8 1.7 1.7 2.6
Capital spending 0.5 0.8 1.2 1.4 1.2 1.4 1.3 1.2 1.3 1.6 1.1 0.7 0.5 0.9 1.1 0.9 1.9 2.2
Free cash flow 4.1 0.9 1.5 1.6 1.8 1.7 1.3 1.2 0.5 1.7 2.5 2.4 1.6 1.2 0.7 0.8 −0.2 0.5
Stock-based pay — — — — — — — — — 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Free cash flow after stock pay — — — — — — — — — 1.5 2.3 2.3 1.4 1.1 0.6 0.7 −0.3 0.4
Balance sheet
Cash 1.9 2.1 4.0 1.3 1.8 1.9 1.1 1.0 1.0 0.6 0.5 0.6 1.3 0.8 1.1 1.1 1.1 0.7
Total debt 9.0 — 9.9 10.1 9.5 9.4 9.3 11.3 11.2 10.7 9.8 8.1 5.6 5.6 5.6 5.6 9.8 9.2
Net debt (negative = net cash) 7.1 −2.1 5.9 8.8 7.7 7.5 8.2 10.3 10.1 10.1 9.3 7.5 4.3 4.8 4.5 4.5 8.7 8.5
Diluted shares 434m 440m 443m 440m 448m 432m 421m 416m 418m 414m 399m 396m 392m 367m 349m 354m 506m 528m
Returned to shareholders
Dividends 0.1 0.2 0.4 0.5 0.6 0.6 0.7 0.7 0.8 0.8 0.8 0.8 0.8 0.7 0.6 0.6 1.0 1.0
Buybacks 0.0 0.0 0.0 0.0 0.5 1.1 0.6 0.1 0.0 0.7 0.5 0.0 0.8 1.3 0.2 0.0 0.1 0.0
Total returned 0.2 0.2 0.5 0.5 1.1 1.7 1.3 0.9 0.8 1.5 1.3 0.8 1.6 2.0 0.9 0.7 1.0 1.0

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 5 checks passed · June 30, 2026
What it owns · $36.5bn
Short-term assets $8.2bnLonger-term assets $28.3bn
What it owes, and who funded it · $22.0bn
Short-term liabilities $7.5bnShareholders' equity $14.5bn
  • Short-term assets cover short-term liabilities $8.2bn of assets due within a year against $7.5bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $726m of cash against $9.2bn of debt.
  • Debt below 40% of shareholders' equity Debt is 64% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 59% to 64% over five years.
  • A year's operating cash flow covers at least 20% of debt $2.6bn of operating cash flow against $9.2bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From International Paper's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$33M
Dividends (TTM)
$979M
Returned to shareholders
206%
of free cash flow
Buybacks, last 3 fiscal years
$306M
Diluted share count
+25.4%
year over year
Total shareholder yield
4.4%
dividends 4.3% + buybacks 0.1% of market value
Sales & admin spending
8.7%
of revenue

Competitors: side by side with peers

Closest by revenue in paper & plastic packaging products & materials
Last 12 months unless stated IP AMCR SW PKG AVY GPK Median
Revenue, last 12 months $24.2bn $23.5bn $31.3bn $9.5bn $9.2bn $8.6bn $8.6bn
Revenue growth, last 12 months 25.4% 56.6% 1.7% 10.3% 5.8% 0.0% 3.6%
Revenue growth, 3-year average 6.1% 17.0% — 5.9% 2.9% −3.7% 6.0%
Revenue growth, latest quarter −2.2% 25.9% 1.1% 14.7% 10.9% −0.7% 1.1%
Gross margin 29.8% 20.0% 17.9% 20.1% 29.0% 15.5% 20.0%
Operating margin 11.1% 8.1% 4.7% 10.9% — 5.8% 4.1%
Operating margin, 3-year average 9.9% 7.9% 6.0% 12.6% — 9.9% 5.7%
Net margin −14.2% 4.7% 1.6% 7.3% 7.6% 2.2% 1.6%
Cash from operations / revenue 10.9% 9.2% 10.5% 17.0% 13.3% 9.2% 9.2%
Free-cash-flow margin 2.0% 5.2% 3.2% 7.8% 11.5% 2.7% 4.8%
Free-cash-flow margin, 3-year average 2.2% 5.6% — 7.8% 9.0% 3.3% 4.6%
Stock pay / revenue 0.5% 0.4% 0.4% 0.5% 0.3% 0.2% 0.4%
Change in share count 25.4% −2.9% — >999% −3.0% −1.8% 0.7%

Median of all 11 companies we cover in paper & plastic packaging products & materials. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

11 paper & plastic packaging products & materials companies
Measure Company Peer median Rank
Revenue growth Growth 25.4% 3.6% 2 of 11
Change in growth rate Growth -16.3pp -1.5pp 10 of 11
Gross margin Profitability 29.8% 20.1% 2 of 10
Net margin Profitability -14.2% 1.6% 10 of 11
Free-cash-flow margin Cash generation 2.0% 4.8% 10 of 11
Stock pay as % of revenue Cash generation 0.5% 0.4% 8 of 11
Long-term debt as % of assets Balance sheet 22.5% 36.0% 3 of 11
Change in share count Balance sheet 25.4% 1.0% 8 of 9

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Geography
Region Revenue Share YoY
United States $14.4B 61.1% ▲ 5.5%
EMEA $8.5B 35.8% ▲ 523.7%
Americas Other Than US $713M 3.0% ▼ 2.3%
Asia Pacific $31M 0.1% ▼ 51.6%

From International Paper's 10-K filed February 27, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$20.4B
Institutions reporting
851
Shares held vs prior quarter
▲ 4.8%
Positions opened / closed
116 / 102

Top buyers and sellers, Q2 2026: 442 institutions bought and 378 sold ; the biggest buyer was AQR Capital Management LLC (+7.6M shares) and the biggest seller Capital International Investors (−17.1M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Capital Research Global Investors $3B 78.5M 14.7% 0.0%
Blackrock, Inc. $1.9B 50.9M 9.5% ▲ 10.2%
Price T Rowe Associates Inc $1.7B 45.5M 8.5% ▼ 7.5%
Vanguard Capital Management LLC $1.3B 34.6M 6.5% ▲ 0.7%
State Street Corp $1.3B 33.0M 6.2% ▲ 7.1%
Vanguard Portfolio Management LLC $949M 24.9M 4.7% ▼ 0.4%
Capital International Investors $745M 19.6M 3.7% ▼ 46.7%
Bank Of New York Mellon Corp $689M 18.1M 3.4% ▲ 33.1%
Invesco Ltd. $668M 17.5M 3.3% ▲ 40.5%
Geode Capital Management, LLC $553M 14.6M 2.7% ▲ 5.2%
Goldman Sachs Group Inc $433M 11.4M 2.1% ▲ 60.9%
Atlas Frm LLC $375M 9.8M 1.8% ▲ 29.6%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not International Paper's complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $4.3M 5 trades by 4 insiders, last 12 months Insider sales History → $1.8M 3 trades by 3 insiders · 0% under pre-set plans
Net ▲ $2.5M net buying
Insider Date Trade Shares Price Value
Hamic William Thomas Exec. VP & President August 7, 2026 Sell 24,500 $41.20 $1M
Goughnour Holly G. VP & Chief Accounting Officer August 4, 2026 Sell 3,500 $41.96 $146,860
Tozier Scott Director May 1, 2026 Buy 10,000 $31.30 $313,009
Gustafsson Anders Director March 12, 2026 Buy 13,217 $37.83 $500,012
Gustafsson Anders Director March 11, 2026 Buy 12,875 $38.84 $500,024
Silvernail Andrew K Chief Executive Officer January 30, 2026 Buy 50,000 $39.98 $2M
Connor Christopher M Director January 30, 2026 Buy 25,000 $40.37 $1M
Ellis Clay R Senior Vice President November 18, 2025 Sell 18,819 $36.85 $693,480

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 41 trades and filings

In the last 12 months, 2 members of Congress disclosed 1 purchase and 2 sales of International Paper shares.

  • Gilbert Ray Cisneros, Jr.(D-CA 31):Sale (full), $1,001 - $15,000, traded April 14, 2026, filed May 8, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Purchase, $1,001 - $15,000, traded November 18, 2025, filed December 15, 2025
  • Julie Johnson(D-TX 32):Sale (full), $1,001 - $15,000, traded November 3, 2025, filed December 11, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 28, 2027 estimated from the company's past filing pattern, not announced

  • October 28, 2026
  • July 30, 2026
  • April 30, 2026
  • January 29, 2026
  • October 30, 2025
  • July 31, 2025

Recent SEC filings

Data status

When each part of this page on International Paper was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

International Paper in brief

What does International Paper do?
International Paper is a US-listed company in the paper & plastic packaging products & materials industry. Its financial year ends in December.
What is International Paper's stock ticker?
International Paper trades under the ticker IP on OTC. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is International Paper's revenue, and how fast is it growing?
Over its most recent trailing twelve months, International Paper reported revenue of $24.2B, 25.4% higher than a year earlier, according to its SEC filings.
What is International Paper's free cash flow?
International Paper's free-cash-flow margin is 2.0% of revenue over the trailing twelve months, ranking 10 of the 11 paper & plastic packaging products & materials companies we cover.
Who are International Paper's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Capital Research Global Investors, Blackrock, Inc. and Price T Rowe Associates Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is International Paper buying back stock, and does it pay a dividend?
International Paper spent $33M on share repurchases over the trailing twelve months, and its diluted share count still rose 25.4% over the year.
What is International Paper's market cap?
On November 2, 2026, International Paper's market capitalisation was about $19.4B and net debt of $8.5B. Market figures come from third-party market data and may be delayed.
Does International Paper pay a dividend?
Yes: International Paper paid $979M in dividends over the trailing twelve months, a dividend yield of 4.26%.
How much debt does International Paper have?
International Paper's debt-to-equity ratio is 63.8%, from its latest balance sheet (59.3% five years earlier). The financial health section below sets out its other solvency checks.
Who are International Paper's competitors?
In our Paper & Plastic Packaging Products & Materials peer group, the companies closest to International Paper are Amcor, Smurfit Westrock, Packaging Corporation of America, Avery Dennison and Graphic Packaging Holding Co. The side-by-side comparison below sets their revenue, margins and growth against International Paper's.
Are insiders buying or selling International Paper stock?
Over the last 12 months, International Paper's directors and officers reported 5 open-market purchases and 3 sales on Form 4. The insider trading page charts every trade.
When is International Paper's next earnings date?
Around January 28, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — International Paper announces its own schedule.