Mercer International Inc. (MERC) Income Statement
MERC 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsMERC revenue and net income
Where MERC's revenue goes
2025Each bar shows an amount and its share of revenue. MERC kept −26.7% of revenue as net income.
MERC profit margins
MERC growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −8.6% | −6.4% | +5.6% | +6.1% |
| Gross profit | −135.7% | — | — | — |
| Operating income | −1,313.2% | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MERC quarterly EPS vs estimates
Mercer International beat the analyst EPS estimate in 2 of the last 8 quarters. Next report: November 5, 2026 (estimate $-1.11).
MERC income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.87B | $2.04B | $1.99B | $2.28B | $1.80B | $1.42B | $1.62B | $1.46B | $1.17B | $931.6M |
| Cost of revenue | $1.94B | $1.85B | $2.03B | $1.78B | $1.38B | $1.29B | $1.47B | $1.13B | $952.4M | $773.4M |
| Gross profit | −$67.6M | $189.4M | −$31.9M | $498.2M | $425.5M | $130.6M | $158.2M | $329.3M | $216.7M | $158.3M |
| Sales, general & admin | $114.4M | $116.4M | $123.2M | $105.8M | $78.9M | $66.9M | $74.0M | $59.6M | $49.7M | $44.5M |
| Total operating expenses | $114.4M | $174.4M | $156.9M | $105.8M | $78.9M | $66.9M | $74.2M | $61.5M | $49.7M | $44.5M |
| Operating income | −$182.1M | $15.0M | −$188.8M | $392.4M | $346.6M | $63.7M | $84.0M | $267.9M | $167.1M | $113.7M |
| Interest income | — | $11.8M | $9.0M | $6.5M | $1.7M | — | $75.8M | $51.5M | $54.8M | $51.6M |
| Interest expense | $114.8M | $109.2M | $88.2M | $71.5M | $70.0M | $80.7M | $75.8M | $51.5M | $54.8M | $51.6M |
| Income before taxes | −$511.2M | −$86.9M | −$269.8M | $345.3M | $260.6M | −$11.1M | $9.6M | $177.3M | $103.9M | $59.5M |
| Income taxes | −$13.3M | −$1.8M | −$27.8M | $98.3M | $89.6M | $6.1M | $19.2M | $48.7M | $33.5M | $24.5M |
| Net income | −$497.9M | −$85.1M | −$242.1M | $247.0M | $171.0M | −$17.2M | −$9.6M | $128.6M | $70.5M | $34.9M |
| EBITDA | −$236.3M | $193.0M | −$9.1M | $561.0M | $462.8M | $192.7M | $210.4M | $367.2M | $253.8M | $187.1M |
| EPS (diluted) | −$4.22 | −$0.50 | −$3.13 | $3.71 | $2.57 | −$0.27 | −$0.08 | $2.35 | $1.17 | $0.54 |
| Gross margin | −3.6% | 9.3% | −1.6% | 21.8% | 23.6% | 9.2% | 9.7% | 22.6% | 18.5% | 17.0% |
| Operating margin | −9.7% | 0.7% | −9.5% | 17.2% | 19.2% | 4.5% | 5.2% | 18.4% | 14.3% | 12.2% |
| Net margin | −26.7% | −4.2% | −12.1% | 10.8% | 9.5% | −1.2% | −0.6% | 8.8% | 6.0% | 3.8% |
| 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 | $460.3M | $489.3M | $449.5M | $458.1M | $453.5M | $507.0M | $488.4M | $502.1M | $499.4M | $553.4M | $470.5M | $470.8M |
| Cost of revenue | $487.7M | $493.7M | $486.8M | $457.4M | $481.5M | $470.5M | $412.2M | $464.1M | $479.1M | $498.5M | $466.4M | $444.2M |
| Gross profit | −$27.4M | −$4.3M | −$37.3M | $671,000 | −$28.0M | $36.4M | $76.2M | $38.0M | $20.3M | $54.9M | $4.1M | $26.7M |
| Sales, general & admin | $31.6M | $28.5M | $25.5M | $28.8M | $30.4M | $29.7M | $25.8M | $29.2M | $29.8M | $31.7M | $26.7M | $30.1M |
| Total operating expenses | $31.6M | $28.5M | $25.5M | $68.3M | $30.4M | $29.7M | $25.8M | $29.2M | $64.1M | $55.3M | $60.5M | $30.1M |
| Operating income | −$59.0M | −$32.9M | −$62.8M | −$67.6M | −$58.4M | $6.7M | $50.4M | $8.8M | −$43.8M | −$448,000 | −$56.4M | −$3.4M |
| Interest expense | $30.9M | $29.1M | $29.8M | $28.5M | $28.4M | $28.2M | $28.3M | $26.4M | $26.8M | $27.6M | $27.2M | $21.9M |
| Income before taxes | −$89.4M | −$60.2M | −$306.1M | −$66.0M | −$87.9M | −$21.6M | $20.2M | −$17.7M | −$66.3M | −$23.1M | −$86.1M | −$22.0M |
| Income taxes | −$13.4M | −$8.2M | $2.6M | $14.8M | −$1.9M | $732,000 | $3.4M | −$120,000 | $1.3M | −$6.4M | $1.1M | $4.0M |
| Net income | −$76.0M | −$52.0M | −$308.7M | −$80.8M | −$86.1M | −$22.3M | $16.7M | −$17.6M | −$67.6M | −$16.7M | −$87.2M | −$26.0M |
| EBITDA | −$20.5M | −$48.5M | −$233.7M | $2.0M | −$22.0M | $46.9M | $97.3M | $50.4M | $461,000 | $44.9M | −$15.1M | $40.8M |
| EPS (diluted) | −$1.13 | −$0.78 | −$1.39 | −$1.21 | −$1.29 | −$0.33 | $0.25 | −$0.26 | −$0.50 | $0.01 | −$0.80 | −$0.39 |
| Gross margin | −6.0% | −0.9% | −8.3% | 0.1% | −6.2% | 7.2% | 15.6% | 7.6% | 4.1% | 9.9% | 0.9% | 5.7% |
| Operating margin | −12.8% | −6.7% | −14.0% | −14.8% | −12.9% | 1.3% | 10.3% | 1.8% | −8.8% | −0.1% | −12.0% | −0.7% |
| Net margin | −16.5% | −10.6% | −68.7% | −17.6% | −19.0% | −4.4% | 3.4% | −3.5% | −13.5% | −3.0% | −18.5% | −5.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MERC's financial statements (latest annual report filed February 12, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MERC financial results
In fiscal year 2025 (ended December 31, 2025), Mercer International reported revenue of $1.9 billion, down 8.6% from the year before. It had a net loss of $497.9 million, a net profit margin of −26.7%. Diluted earnings per share came to −$4.22. Over five years revenue grew at an average rate of 5.6% a year.
See the MERC stock overview for the latest quote and news, or the MERC chart for price history and technical indicators.
MERC income statement FAQ
What is Mercer International's annual revenue?
Mercer International reported total revenue of $1.9 billion for fiscal year 2025, which ended on December 31, 2025. That was down 8.6% from $2.0 billion the previous year.
Is Mercer International profitable?
No. Mercer International reported a net loss of $497.9 million in fiscal 2025, a net profit margin of −26.7%; its operating margin was −9.7%.
What is Mercer International's gross margin?
Mercer International's gross margin was −3.6% in fiscal 2025: for every $100 of revenue, Mercer International kept $-4 after the direct cost of its products and services.
How fast is Mercer International growing?
Revenue grew 5.6% a year on average over the last five fiscal years, from $1.4 billion to $1.9 billion.
What are Mercer International's earnings per share?
Mercer International earned $-4.22 per diluted share in fiscal 2025, compared with $-0.50 a year earlier.
When will Mercer International report its next earnings?
Mercer International is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 after the market closes.
When does Mercer International's fiscal year end?
Mercer International's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 12, 2026.