International Paper Company
- Open
- 37.96
- Day high
- 38.17
- Day low
- 37.56
- Prev close
- 38.23
- Volume
- 878K
- Mkt cap
- $20.6B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 1.4
- P/S
- 0.8
- Yield
- 4.77%
- Per share
- $1.85
- ▲Insiders net buying $313K over the last 3 months (1 open-market buy, 0 sales)
- 🏛Institutions mixed (13F)
International Paper Company (IP) is a Consumer Cyclical company listed on NYSE. The stock is down 23% over the past year. Over the trailing 3 months, insiders filed 1 open-market buy and 0 sales (SEC Form 4).
International Paper Company (IP) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 8 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
IP earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $0.18 | $0.15 | -16.7% | $6.0B | -0.7% |
| Jan 29, 2026 | $0.28 | $-0.08 | -128.6% | $6.0B | +5.8% |
| Oct 30, 2025 | $0.47 | $-0.43 | -191.8% | $6.2B | -7.5% |
| Jul 31, 2025 | $0.39 | $0.20 | -48.5% | $6.8B | +1.8% |
| Apr 30, 2025 | $0.38 | $0.23 | -39.1% | $5.9B | -6.3% |
| Jan 30, 2025 | $0.03 | $-0.02 | -166.7% | $4.6B | -3.5% |
| Oct 31, 2024 | $0.26 | $0.44 | +69.2% | $4.7B | -0.3% |
| Jul 24, 2024 | $0.40 | $0.55 | +37.5% | $4.7B | +0.8% |
| Apr 25, 2024 | $0.22 | $0.17 | -22.7% | $4.6B | +1.4% |
| Feb 1, 2024 | $0.34 | $0.41 | +20.6% | $4.6B | -1.6% |
| Oct 26, 2023 | $0.58 | $0.64 | +10.3% | $4.6B | -4.0% |
| Jul 27, 2023 | $0.38 | $0.59 | +55.3% | $4.7B | -4.4% |
IP insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 14, 2026 | GUSTAFSSON ANDERSdirector | Grant | 11,112 | — |
| May 14, 2026 | Connor Christopher Mdirector | Grant | 11,414 | — |
| May 14, 2026 | Dorduncu Ahmet Cdirector | Grant | 5,298 | — |
| May 14, 2026 | Beggs Jamie A.director | Grant | 10,506 | — |
| May 14, 2026 | ROBBIE DAVID A.director | Grant | 5,298 | — |
| May 14, 2026 | Hinman Jacqueline C.director | Grant | 5,298 | — |
| May 14, 2026 | Tozier Scottdirector | Grant | 5,298 | — |
| May 14, 2026 | SULLIVAN KATHRYN Ddirector | Grant | 7,901 | — |
| May 14, 2026 | ROBBIE DAVID A.director | Tax | 1,233 | $32.47 |
| May 14, 2026 | Vincent Anton V.director | Grant | 10,203 | — |
| May 14, 2026 | Lewis Clinton A. Jr.director | Grant | 10,809 | — |
| May 14, 2026 | Dorduncu Ahmet Cdirector | Tax | 1,186 | $32.47 |
| May 1, 2026 | Tozier Scottdirector | Buy | 10,000 | $31.30 |
| Apr 2, 2026 | Hamic William Thomasofficer: Exec. VP & President | Tax | 12,666 | $35.70 |
| Apr 2, 2026 | Loeffler Lanceofficer: Senior VP & CFO | Tax | 2,703 | $35.70 |
Source: IP SEC Form 4 filings, latest May 14, 2026. For informational purposes only — not investment advice.
See the full IP insider & 13F page →International Paper Company company profile
Overview
International Paper Company (NYSE:IP) is one of the world's largest packaging and paper companies, founded in 1898 and headquartered in Memphis, Tennessee. The company has evolved from its origins as a pulp and paper manufacturer into a global packaging solutions provider, operating primarily across North America, Europe, the Middle East, Africa, and the Asia-Pacific region. Following its major acquisition of DS Smith in early 2025, International Paper has significantly expanded its European presence and strengthened its position as a leading containerboard and corrugated packaging manufacturer.
Business
International Paper operates in the packaging and containers industry, focusing on two primary business segments that serve essential supply chain functions across multiple industries. Industrial Packaging represents the company's largest segment, manufacturing containerboard products including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft. These materials are the foundation for corrugated boxes and packaging solutions used across e-commerce, food and beverage, consumer goods, and industrial applications. The company operates an integrated system of containerboard mills and converting facilities (box plants) that transform raw materials into finished packaging products. This segment generates approximately 75-80% of total company revenues. Global Cellulose Fibers produces specialized pulp products for diverse applications. The segment manufactures fluff pulp used in absorbent hygiene products like baby diapers, feminine care products, and adult incontinence items. It also produces market pulp and specialty pulps used in tissue and paper products, as well as non-absorbent applications including textiles, filtration materials, construction products, paints and coatings, and reinforced plastics. This segment typically accounts for 20-25% of total revenues. The packaging industry serves as a critical component of global supply chains, with containerboard and corrugated packaging being essential for protecting and transporting goods from manufacturers to consumers. The cellulose fibers business supports both consumer hygiene markets and industrial applications requiring specialized fiber properties.
Revenue model
International Paper generates revenue through direct product sales to end customers, converters, and distributors. The company's business model centers on manufacturing and selling physical products rather than services or subscriptions. In Industrial Packaging, the company sells containerboard (the raw material for boxes) to independent converters and operates its own box plants that produce finished corrugated packaging sold directly to end users. Customers include major retailers, e-commerce companies, food and beverage manufacturers, and industrial companies requiring packaging solutions. Revenue is driven by both volume (tons sold) and pricing, with prices often tied to industry indices that fluctuate based on supply and demand dynamics. The Global Cellulose Fibers segment sells pulp products to manufacturers of hygiene products, tissue companies, and industrial customers. This business operates more like a commodity market with prices influenced by global supply and demand for different pulp grades. Several factors significantly impact the company's margins. Input costs including energy, chemicals, recycled fiber, and labor represent major expense categories that can compress margins when rising faster than selling prices. Demand cycles in packaging correlate with economic activity and consumer spending, while hygiene product demand tends to be more stable. Industry capacity utilization affects pricing power, with tight capacity supporting higher prices and excess capacity pressuring margins. Raw material availability, particularly recycled fiber for containerboard production, influences both costs and operational efficiency. The company's integrated mill system provides some cost advantages, but also creates operational leverage where volume declines can significantly impact fixed cost absorption and overall profitability.
Competitive moat
International Paper possesses a moderate economic moat built primarily on scale advantages and integrated operations, though the moat faces ongoing challenges from industry dynamics. The company's integrated mill and converting system provides cost advantages through vertical integration, allowing it to optimize production across containerboard mills and box plants while reducing transportation costs. Its scale and geographic footprint enable efficient customer service across major markets, particularly important for large retail and e-commerce customers requiring consistent packaging supply across multiple locations. The recent DS Smith acquisition significantly strengthens the company's European presence and provides similar integrated advantages in that market. However, the moat faces meaningful limitations. Containerboard manufacturing is essentially a commodity business where differentiation is limited and pricing power depends heavily on industry capacity utilization. New capacity additions by competitors can quickly erode pricing and margins. The packaging industry experiences cyclical demand tied to economic conditions, and customers often maintain multiple suppliers to ensure supply security, limiting customer stickiness. Potential disruption comes from several sources: alternative packaging materials as sustainability concerns drive innovation, continued industry consolidation that could create larger competitors, and potential demand shifts as e-commerce growth moderates. The cellulose fibers business faces competition from synthetic alternatives in some applications and is subject to global commodity price volatility. The company's competitive position is solid but not dominant, requiring continuous operational excellence and cost management to maintain market position rather than relying on sustainable competitive advantages.
Risks & safety
International Paper presents moderate financial safety with adequate liquidity but elevated leverage following the DS Smith acquisition. • Liquidity position: $1.2 billion in cash and short-term investments provides reasonable operating flexibility, though free cash flow turned negative in Q1 2025 at -$618 million due to acquisition-related costs and integration expenses • Debt levels: Debt-to-equity ratio of 0.56x appears manageable, but total debt increased significantly following the DS Smith acquisition; EV/EBITDA of 14.2x suggests elevated valuation relative to earnings capacity • Solvency risk: Current ratio of 1.33x indicates adequate short-term liquidity coverage, though the company's cyclical earnings profile creates some uncertainty around debt service during downturns • Valuation metrics: Trading at negative P/E due to recent losses, though management targets $3.5-4.0 billion EBITDA suggest potential earnings recovery; price-to-book of 1.29x appears reasonable for an asset-intensive business • Other considerations: Cyclical industry dynamics create earnings volatility; significant integration costs and operational challenges from DS Smith acquisition may pressure near-term cash flows; commodity price exposure adds earnings uncertainty
Recent development
International Paper has undergone significant strategic transformation over the past two years under CEO Andy Silvernail's leadership. The company implemented the "80/20 methodology" across operations, focusing on identifying and optimizing the most profitable 20% of customers, products, and processes while streamlining or eliminating less productive activities. Major operational restructuring included closing five box plants and the Georgetown mill to reduce complexity and improve efficiency. The company also dramatically reduced corporate overhead, cutting corporate center employees from 2,600 to 226 positions, targeting $120 million in annual savings. These actions are part of a broader $1.2 billion cost reduction program aimed at achieving $4 billion in mid-cycle EBITDA. The DS Smith acquisition completed in January 2025 represents the company's largest strategic move, significantly expanding European operations and creating a more balanced global footprint. Management is applying the 80/20 methodology to integrate DS Smith operations while targeting $1.9 billion in cost savings and $1.1 billion in commercial improvements by 2027. Commercial strategy evolution shifted from volume-focused to value-focused approaches, accepting near-term market share losses to improve profitability. The company reset its go-to-market strategy, improved customer service metrics (on-time delivery improved from high 80s to high 90s), and developed new sales compensation plans aligned with profitable growth rather than pure volume targets. Capital investment strategy increased focus on reliability and productivity improvements, with management committing to $1.0-1.2 billion annual capital expenditure to address historical underinvestment in mill maintenance and productivity enhancements.
IP company profile · for informational purposes only — not investment advice.
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