# Mercer International Inc.: overview

MERC · Nasdaq · CIK 1333274 · [Materials](/sectors/materials.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/merc.md) · [Financials](/companies/merc/financials.md) · [Filings](/companies/merc/filings.md) · [Insiders](/companies/merc/insiders.md)

Latest reported revenue: [$460.3m](/filings/0001193125-26-338272.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 6, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001193125-26-338272).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [502](/filings/0001193125-25-269753.md) | [488 d](/filings/0001193125-26-048855.md) | [507](/filings/0001193125-26-212136.md) | [454](/filings/0001193125-26-338272.md) | [458](/filings/0001193125-25-269753.md) | [450 d](/filings/0001193125-26-048855.md) | [489](/filings/0001193125-26-212136.md) | [460](/filings/0001193125-26-338272.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [1.8%](/filings/0001193125-25-269753.md) | [10.3% d](/filings/0001193125-26-048855.md) | [1.3%](/filings/0001193125-26-212136.md) | [(12.9%)](/filings/0001193125-26-338272.md) | [(14.8%)](/filings/0001193125-25-269753.md) | [(62.0%) d](/filings/0001193125-26-048855.md) | [(6.7%)](/filings/0001193125-26-212136.md) | [(12.8%)](/filings/0001193125-26-338272.md) |
| Net margin | % | [(3.5%)](/filings/0001193125-25-269753.md) | [3.4% d](/filings/0001193125-26-048855.md) | [(4.4%)](/filings/0001193125-26-212136.md) | [(19.0%)](/filings/0001193125-26-338272.md) | [(17.6%)](/filings/0001193125-25-269753.md) | [(68.7%) d](/filings/0001193125-26-048855.md) | [(10.6%)](/filings/0001193125-26-212136.md) | [(16.5%)](/filings/0001193125-26-338272.md) |
| Diluted EPS | $ per share | [(0.26)](/filings/0001193125-25-269753.md) | not reported | [(0.33)](/filings/0001193125-26-212136.md) | [(1.29)](/filings/0001193125-26-338272.md) | [(1.21)](/filings/0001193125-25-269753.md) | not reported | [(0.78)](/filings/0001193125-26-212136.md) | [(1.13)](/filings/0001193125-26-338272.md) |
| Free cash flow | $m | [(41.2)](/filings/0001193125-25-269753.md) | [50.4 d](/filings/0001193125-26-048855.md) | [(23.1)](/filings/0001193125-26-212136.md) | [(28.9)](/filings/0001193125-26-338272.md) | [(60.1)](/filings/0001193125-25-269753.md) | [32.0 d](/filings/0001193125-26-048855.md) | [(98.8)](/filings/0001193125-26-212136.md) | [(27.3)](/filings/0001193125-26-338272.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 12-month figure less the 9-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [1,803](/filings/0000950170-24-015942.md) | [2,281](/filings/0000950170-25-024217.md) | [1,994](/filings/0001193125-26-048855.md) | [2,043](/filings/0001193125-26-048855.md) | [1,868](/filings/0001193125-26-048855.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [19.2%](/filings/0000950170-24-015942.md) | [17.2%](/filings/0000950170-25-024217.md) | [(9.5%)](/filings/0001193125-26-048855.md) | [0.7%](/filings/0001193125-26-048855.md) | [(21.3%)](/filings/0001193125-26-048855.md) |
| Net margin | % | [9.5%](/filings/0000950170-24-015942.md) | [10.8%](/filings/0000950170-25-024217.md) | [(12.1%)](/filings/0001193125-26-048855.md) | [(4.2%)](/filings/0001193125-26-048855.md) | [(26.7%)](/filings/0001193125-26-048855.md) |
| Diluted EPS | $ per share | [2.58](/filings/0000950170-24-015942.md) | [3.71](/filings/0000950170-25-024217.md) | [(3.65)](/filings/0001193125-26-048855.md) | [(1.27)](/filings/0001193125-26-048855.md) | [(7.44)](/filings/0001193125-26-048855.md) |
| Free cash flow | $m | [22.8](/filings/0000950170-24-015942.md) | [182](/filings/0000950170-25-024217.md) | [(205)](/filings/0001193125-26-048855.md) | [5.9](/filings/0001193125-26-048855.md) | [(80.0)](/filings/0001193125-26-048855.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/merc/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [REDWOOD CAPITAL MANAGEMENT, LLC](/funds/1316622.md) | 2026-06-30 | $3.1m | 4,648,133 |  | Unchanged |
| [BARCLAYS PLC](/funds/312069.md) | 2026-06-30 | $2.6m | 3,950,970 |  | Added +630,889 |
| [TORONTO DOMINION BANK](/funds/947263.md) | 2026-06-30 | $2.2m | 3,300,000 |  | Unchanged |
| [DIMENSIONAL FUND ADVISORS LP](/funds/354204.md) | 2026-06-30 | $1.3m | 1,963,354 |  | Reduced −590,732 |
| [WHITEBOX ADVISORS LLC](/funds/1257391.md) | 2026-06-30 | $969.4k | 1,468,738 |  | Added +411,080 |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $798.2k | 1,209,362 |  | Added +107,381 |
| [FRANKLIN RESOURCES INC](/funds/38777.md) | 2026-06-30 | $519.7k | 787,371 |  | Unchanged |
| [Benefit Street Partners LLC](/funds/1543160.md) | 2026-06-30 | $519.7k | 787,371 |  | Unchanged |
| [IAT REINSURANCE CO LTD.](/funds/1633625.md) | 2026-06-30 | $415.8k | 18,220,000 |  | Added +1,000,000 |
| [Atlas FRM LLC](/funds/1879898.md) | 2026-06-30 | $393.9k | 596,791 |  | Reduced −2,553,209 |

## Recent filings

[All 1,026 filings](/companies/merc/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-02 | 13:24 ET | [8-K](/filings/0001193125-26-411343.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001193125-26-411343 |
| 2026-08-26 | 20:53 ET | [8-K](/filings/0001193125-26-368838.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001193125-26-368838 |
| 2026-08-06 | 20:35 ET | [10-Q](/filings/0001193125-26-338272.md) | Quarterly report, period 2026-06-30 | 0001193125-26-338272 |
| 2026-08-06 | 20:34 ET | [8-K](/filings/0001193125-26-338270.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001193125-26-338270 |
| 2026-07-31 | 00:01 ET | [SCHEDULE 13D/A](/filings/0001104659-26-089335.md) | Ownership report, active investor, amended | 0001104659-26-089335 |
| 2026-07-14 | 10:01 ET | [8-K](/filings/0001193125-26-302437.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001193125-26-302437 |
| 2026-07-10 | 20:35 ET | [8-K](/filings/0001193125-26-300972.md) | 3.01 Delisting notice; 9.01 Financial statements and exhibits | 0001193125-26-300972 |
| 2026-06-30 | 20:26 ET | [8-K](/filings/0001193125-26-290608.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001193125-26-290608 |
| 2026-06-01 | 21:26 ET | [8-K](/filings/0001193125-26-251779.md) | 5.07 Shareholder vote results | 0001193125-26-251779 |
| 2026-05-21 | 14:14 ET | [SCHEDULE 13D/A](/filings/0001104659-26-064938.md) | Ownership report, active investor, amended | 0001104659-26-064938 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001193125-26-048855.md), filed Feb 12, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/b773b408-0d75-40ea-8589-2c23a5777d67)

## About the filer

- CIK: 1333274
- Tickers: MERC
- Exchange: Nasdaq
- SIC code: 2611 Pulp Mills
- State of incorporation: WA
- Filer category: Accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 24, 2026, 15:37 ET. No prices; not investment advice.