Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

International Paper

IP stock analysis · Materials · Paper & Plastic Packaging Products & Materials

FY 2025-12-31ANNUAL FILINGS
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ⓘ These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$38.10HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$23.9B

Price × SEC outstanding shares. Shares measured 2026-06-30. Approximate; share and price dates can differ.

View share-count filing ↗
Derived operating income

Derived consolidated continuing-operation operating income by removing only separately presented net interest and explicitly non-operating pension income/expense from pretax income before equity earnings. Reconciles to sales less all operating expenses, retaining depreciation/amortization, distribution, other taxes, restructuring, goodwill impairment and signed asset/business disposal gains/losses. The FY2025 operating loss remains negative. This is not adjusted EBITDA and does not restore discontinued operations. Applies only to FY2024 and FY2025. Read the financial statement ↗

Valuation

DCF value

— Requires positive annual FCF, usable shares and discount rate above terminal growth.

Requires positive annual FCF, usable shares and discount rate above terminal growth.

How this is calculated ↗
Valuation

Reverse DCF

— No solution in −50% to +100% growth, or nonpositive FCF / invalid assumptions.

No solution in −50% to +100% growth, or nonpositive FCF / invalid assumptions.

How this is calculated ↗
Valuation

Relative valuation

— Requires market caps for at least five comparable profitable issuers.

Requires market caps for at least five comparable profitable issuers.

How this is calculated ↗
Valuation

Historical multiples

44.3×

3 annual observations

How this is calculated ↗
Valuation

Free cash flow yield

-0.7%

Annual basis · read assumptions below

How this is calculated ↗
Quality

ROIC / quality

-13.1%

Normalized tax · financing-capital proxy · parent-equity fallback (scope limitation) · short-term borrowing coverage incomplete

How this is calculated ↗
Valuation

Value composite

— Requires three valuation yields and at least five covered sector peers.

Requires three valuation yields and at least five covered sector peers.

How this is calculated ↗
Momentum

12–1 price momentum

— Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

66.5%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

— Requires reported dividends, repurchases and issuance; missing values are not zero.

Requires reported dividends, repurchases and issuance; missing values are not zero.

How this is calculated ↗
Quality

Accrual quality

-17.2%

Parent-earnings fallback versus consolidated cash flow · scope limitation

How this is calculated ↗
Momentum

Fundamental momentum

9.9%

Annual basis · read assumptions below

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 3.1B2020-12-31: cfo $3,063,000,000.002020-12-31: capex $663,000,000.0020202021-12-31: cfo $2,030,000,000.002021-12-31: capex $480,000,000.0020212022-12-31: cfo $2,174,000,000.002022-12-31: capex $931,000,000.0020222023-12-31: cfo $1,833,000,000.002023-12-31: capex $1,141,000,000.0020232024-12-31: cfo $1,678,000,000.002024-12-31: capex $921,000,000.0020242025-12-31: cfo $1,698,000,000.002025-12-31: capex $1,857,000,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%———
10.0%———
12.0%———

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-12-3123.6B-3.5B1.7B1.9B38B
2024-12-3115.8B557M1.7B921M22.8B
2023-12-3116B288M1.8B1.1B23.3B
2022-12-3121.2B1.5B2.2B931M23.9B
2021-12-3119.4B1.8B2B480M25.2B
2020-12-3117.6B482M3.1B663M31.7B
2019-12-3118.3B1.2B3.6B1.1B33.5B
2018-12-3123.3B2B3.2B1.6B33.6B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue23.6BRevenueFromContractWithCustomerExcludingAssessedTax2026-02-27
netIncome-3.5BNetIncomeLoss
Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income.
2026-02-27
Parent/common earnings proxy-3.5BNetIncomeLoss2026-02-27
cfo1.7BNetCashProvidedByUsedInOperatingActivities2026-02-27
capex1.9BPaymentsToAcquireProductiveAssets2026-02-27
operatingIncome-3BReviewed manual correction
Derived consolidated continuing-operation operating income by removing only separately presented net interest and explicitly non-operating pension income/expense from pretax income before equity earnings. Reconciles to sales less all operating expenses, retaining depreciation/amortization, distribution, other taxes, restructuring, goodwill impairment and signed asset/business disposal gains/losses. The FY2025 operating loss remains negative. This is not adjusted EBITDA and does not restore discontinued operations. Applies only to FY2024 and FY2025.
2026-02-27
assets38BAssets2026-02-27
equity14.8BStockholdersEquity
Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income.
2026-02-27
Parent book equity proxy14.8BStockholdersEquity2026-02-27
debt9.8BLongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities2026-02-27
shortDebt—Not reported under a supported tag—
cash1.1BCashAndCashEquivalentsAtCarryingValue2026-02-27
shares505.7MWeightedAverageNumberOfDilutedSharesOutstanding2026-02-27
dividends977MPaymentsOfDividends2026-02-27
buybacks65MPaymentsForRepurchaseOfCommonStock2026-02-27
issuance—Not reported under a supported tag—