International Paper Company (IP) Income Statement
IP 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsIP revenue and net income
Where IP's revenue goes
2025Each bar shows an amount and its share of revenue. IP kept −14.1% of revenue as net income.
IP profit margins
IP growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +33.7% | +5.6% | +7.2% | +1.9% |
| Gross profit | +40.2% | +6.9% | +12.0% | +1.5% |
| Operating income | −692.4% | — | — | — |
| Net income | −731.2% | — | — | — |
| EPS (diluted) | −107.0% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
IP quarterly EPS vs estimates
International Paper beat the analyst EPS estimate in 3 of the last 8 quarters. Next report: October 28, 2026 (estimate $0.30).
IP income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $24.90B | $18.62B | $18.92B | $21.16B | $19.36B | $17.57B | $18.32B | $23.31B | $21.74B | $19.50B |
| Cost of revenue | $17.55B | $13.38B | $15.06B | $15.14B | $13.83B | $13.38B | $12.67B | $15.55B | $14.80B | $13.42B |
| Gross profit | $7.35B | $5.24B | $3.85B | $6.02B | $5.53B | $4.18B | $5.65B | $7.75B | $6.94B | $6.08B |
| Research & development | — | — | — | — | — | — | $29.0M | $30.0M | $28.0M | $730.0M |
| Sales, general & admin | $3.73B | $3.31B | $2.51B | $3.08B | $2.83B | $2.64B | $2.70B | $3.29B | $3.06B | $2.69B |
| Total operating expenses | $10.17B | $4.77B | $2.67B | $4.26B | $4.07B | $2.78B | $3.90B | $4.79B | $4.57B | $3.97B |
| Operating income | −$2.82B | $476.0M | $1.19B | $1.75B | $1.47B | $1.40B | $1.74B | $2.96B | $2.37B | $2.10B |
| Interest income | $179.0M | $222.0M | $166.0M | $270.0M | $165.0M | $409.0M | $215.0M | $198.0M | $186.0M | $175.0M |
| Interest expense | $372.0M | $430.0M | $421.0M | $403.0M | $430.0M | $596.0M | $701.0M | $734.0M | $758.0M | $695.0M |
| Income before taxes | −$3.35B | $142.0M | $361.0M | $1.50B | $1.00B | $406.0M | $1.17B | $2.12B | $1.02B | $993.0M |
| Income taxes | −$532.0M | −$415.0M | $59.0M | −$236.0M | $188.0M | $176.0M | $477.0M | $445.0M | −$1.08B | $193.0M |
| Net income | −$3.52B | $557.0M | $302.0M | $1.50B | $1.75B | $230.0M | $1.23B | $2.01B | $2.14B | $904.0M |
| EBITDA | −$97.0M | $1.88B | $2.27B | $2.95B | $2.54B | $2.06B | $2.93B | $3.84B | $2.95B | $2.61B |
| EPS (diluted) | −$0.08 | $1.14 | $2.17 | $3.88 | $3.95 | $2.80 | $4.44 | $5.34 | $3.60 | $3.36 |
| Gross margin | 29.5% | 28.2% | 20.4% | 28.4% | 28.6% | 23.8% | 30.8% | 33.3% | 31.9% | 31.2% |
| Operating margin | −11.3% | 2.6% | 6.3% | 8.3% | 7.6% | 8.0% | 9.5% | 12.7% | 10.9% | 10.8% |
| Net margin | −14.1% | 3.0% | 1.6% | 7.1% | 9.0% | 1.3% | 6.7% | 8.6% | 9.9% | 4.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.00B | $5.97B | $6.01B | $6.22B | $6.77B | $5.90B | $4.58B | $4.69B | $4.73B | $4.62B | $4.60B | $4.61B |
| Cost of revenue | $4.34B | $4.73B | $4.12B | $4.29B | $4.88B | $4.26B | $3.25B | $3.34B | $3.36B | $3.42B | $3.97B | $3.60B |
| Gross profit | $1.66B | $1.24B | $1.88B | $1.94B | $1.89B | $1.64B | $1.33B | $1.34B | $1.37B | $1.20B | $630.0M | $1.01B |
| Sales, general & admin | $1.09B | $1.02B | $1.09B | $1.02B | $1.16B | $1.01B | $869.0M | $865.0M | $832.0M | $749.0M | $65.0M | $668.0M |
| Total operating expenses | $1.61B | $1.06B | $4.45B | $2.36B | $1.69B | $1.68B | $1.40B | $1.17B | $1.13B | $1.07B | $369.0M | $707.0M |
| Operating income | $45.0M | $174.0M | −$2.56B | −$426.0M | $206.0M | −$35.0M | −$72.0M | $175.0M | $246.0M | $127.0M | $261.0M | $303.0M |
| Interest income | $44.0M | $56.0M | $95.0M | $85.0M | $107.0M | $52.0M | $52.0M | $55.0M | $52.0M | $63.0M | $58.0M | $47.0M |
| Interest expense | $87.0M | $132.0M | $95.0M | $1.0M | $143.0M | $133.0M | $108.0M | $106.0M | $107.0M | $109.0M | $110.0M | $105.0M |
| Income before taxes | −$26.0M | $93.0M | −$2.65B | −$676.0M | $115.0M | −$136.0M | −$225.0M | $79.0M | $205.0M | $83.0M | −$345.0M | $231.0M |
| Income taxes | −$15.0M | $17.0M | −$291.0M | −$250.0M | $40.0M | −$31.0M | −$78.0M | −$71.0M | −$293.0M | $27.0M | −$61.0M | $39.0M |
| Net income | −$12.0M | $60.0M | −$2.38B | −$1.10B | $75.0M | −$105.0M | −$147.0M | $150.0M | $498.0M | $56.0M | −$284.0M | $192.0M |
| EBITDA | $549.0M | $658.0M | −$1.86B | $424.0M | $739.0M | $569.0M | $383.0M | $453.0M | $574.0M | $472.0M | $480.0M | $595.0M |
| EPS (diluted) | $0.04 | $0.15 | −$0.08 | −$0.43 | $0.20 | $0.23 | −$0.02 | $0.44 | $0.55 | $0.17 | $0.41 | $0.64 |
| Gross margin | 27.6% | 20.7% | 31.4% | 31.1% | 27.9% | 27.8% | 29.0% | 28.7% | 29.0% | 25.9% | 13.7% | 21.9% |
| Operating margin | 0.7% | 2.9% | −42.7% | −6.8% | 3.0% | −0.6% | −1.6% | 3.7% | 5.2% | 2.7% | 5.7% | 6.6% |
| Net margin | −0.2% | 1.0% | −39.7% | −17.7% | 1.1% | −1.8% | −3.2% | 3.2% | 10.5% | 1.2% | −6.2% | 4.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in IP's financial statements (latest annual report filed February 27, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
IP financial results
In fiscal year 2025 (ended December 31, 2025), International Paper reported revenue of $24.9 billion, up 33.7% from the year before. It had a net loss of $3.5 billion, a net profit margin of −14.1%. Diluted earnings per share came to −$0.08. Over five years revenue grew at an average rate of 7.2% a year.
See the IP stock overview for the latest quote and news, or the IP chart for price history and technical indicators.
IP income statement FAQ
What is International Paper's annual revenue?
International Paper reported total revenue of $24.9 billion for fiscal year 2025, which ended on December 31, 2025. That was up 33.7% from $18.6 billion the previous year.
Is International Paper profitable?
No. International Paper reported a net loss of $3.5 billion in fiscal 2025, a net profit margin of −14.1%; its operating margin was −11.3%.
What is International Paper's gross margin?
International Paper's gross margin was 29.5% in fiscal 2025: for every $100 of revenue, International Paper kept $30 after the direct cost of its products and services.
How fast is International Paper growing?
Revenue grew 7.2% a year on average over the last five fiscal years, from $17.6 billion to $24.9 billion.
What are International Paper's earnings per share?
International Paper earned $-0.08 per diluted share in fiscal 2025, compared with $1.14 a year earlier.
When will International Paper report its next earnings?
International Paper is expected to report results for the quarter ending September 30, 2026 on October 28, 2026 before the market opens.
When does International Paper's fiscal year end?
International Paper's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 27, 2026.