Clearwater Paper (CLW) Financials

$24.93 +0.87 (+3.62%)

As of 03:53 PM Eastern

Annual Income Statements for Clearwater Paper

This table shows Clearwater Paper's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	46	108	196
Consolidated Net Income / (Loss)	46	108	196
Net Income / (Loss) Continuing Operations	53	49	-74
Total Pre-Tax Income	82	66	-101
Total Operating Income	99	78	-65
Total Gross Profit	213	201	76
Total Revenue	1,195	1,136	1,384
Operating Revenue	1,195	1,136	1,384
Total Cost of Revenue	983	935	1,308
Operating Cost of Revenue	983	935	1,308
Total Operating Expenses	113	123	141
Selling, General & Admin Expense	113	123	141
Total Other Income / (Expense), net	-17	-13	-37
Interest Expense	0.50	3.10	9.10
Interest & Investment Income	-11	-9.50	-29
Other Income / (Expense), net	-5.70	0.10	1.80
Income Tax Expense	29	17	-27
Net Income / (Loss) Discontinued Operations	-6.70	59	270
Basic Earnings per Share	$2.71	$6.39	$11.70
Weighted Average Basic Shares Outstanding	16.99M	16.86M	16.78M
Diluted Earnings per Share	$2.68	$6.30	$11.70
Weighted Average Diluted Shares Outstanding	17.18M	17.09M	16.78M
Weighted Average Basic & Diluted Shares Outstanding	16.76M	16.48M	16.18M

This table shows Clearwater Paper's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	21	-5.90	24	30	37	18	17	-26	5.90	199
Consolidated Net Income / (Loss)	21	-5.90	24	30	37	18	17	-26	5.80	199
Net Income / (Loss) Continuing Operations	21	0.70	24	30	15	-20	17	-26	-11	-55
Total Pre-Tax Income	40	0.60	32	40	19	-25	24	-35	-14	-76
Total Operating Income	49	-14	40	47	21	-30	30	-20	-1.20	-74
Total Gross Profit	84	-8.90	77	86	51	-13	75	36	30	-64
Total Revenue	539	-358	525	525	279	-193	496	586	393	-92
Operating Revenue	539	-358	525	525	279	-193	496	586	393	-92
Total Cost of Revenue	455	-350	449	439	228	-180	422	551	363	-28
Operating Cost of Revenue	455	-350	449	439	228	-180	422	551	363	-28
Total Operating Expenses	35	5.20	37	39	30	17	44	55	31	10
Selling, General & Admin Expense	33	13	36	39	28	19	36	38	32	35
Total Other Income / (Expense), net	-9.40	15	-7.50	-7.40	-2.10	4.50	-6.20	-16	-13	-1.80
Interest & Investment Income	-8.00	16	-7.60	-7.50	-2.20	7.80	-6.50	-16	-13	6.40
Other Income / (Expense), net	-1.40	-1.50	0.10	0.10	0.10	-0.20	0.30	0.30	0.30	0.90
Income Tax Expense	19	-0.10	8.40	10	3.70	-5.40	7.00	-9.40	-3.30	-21
Basic Earnings per Share	$1.23	($0.38)	$1.42	$1.76	$2.19	$1.02	$1.03	($1.55)	$0.35	$11.87
Weighted Average Basic Shares Outstanding	16.75M	16.99M	16.83M	16.87M	16.68M	16.86M	16.61M	16.66M	16.62M	16.78M
Diluted Earnings per Share	$1.21	($0.36)	$1.40	$1.75	$2.17	$0.98	$1.02	($1.55)	$0.35	$11.88
Weighted Average Diluted Shares Outstanding	17.09M	17.18M	17.04M	16.96M	16.90M	17.09M	16.90M	16.66M	16.62M	16.78M
Weighted Average Basic & Diluted Shares Outstanding	16.76M	16.76M	16.92M	16.71M	16.56M	16.48M	16.68M	16.63M	16.57M	16.18M

This table details how cash moves in and out of Clearwater Paper's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Change in Cash & Equivalents	28	-12	38
Net Cash From Operating Activities	150	191	61
Net Cash From Continuing Operating Activities	150	191	62
Net Income / (Loss) Continuing Operations	46	108	196
Consolidated Net Income / (Loss)	46	108	196
Depreciation Expense	103	99	100
Amortization Expense	2.00	4.40	12
Non-Cash Adjustments To Reconcile Net Income	22	10	-304
Changes in Operating Assets and Liabilities, net	-23	-30	58
Net Cash From Investing Activities	-34	-74	168
Net Cash From Continuing Investing Activities	-34	-74	168
Purchase of Property, Plant & Equipment	-34	-74	-117
Acquisitions	0.00	0.00	-708
Sale of Property, Plant & Equipment	0.00	0.00	993
Net Cash From Financing Activities	-89	-129	-191
Net Cash From Continuing Financing Activities	-89	-129	-192
Repayment of Debt	-81	-329	-931
Repurchase of Common Equity	-5.00	-18	-10
Issuance of Debt	0.00	222	753
Other Financing Activities, net	-2.50	-4.70	-4.10
Cash Interest Paid	33	38	52
Cash Income Taxes Paid	43	17	19

This table details how cash moves in and out of Clearwater Paper's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	-65	2.90	-37	24	69	-68	13	-16	-4.10	44
Net Cash From Operating Activities	13	17	-9.10	46	88	66	59	21	16	-35
Net Cash From Continuing Operating Activities	-33	17	-9.20	46	88	66	59	21	16	-35
Net Income / (Loss) Continuing Operations	21	-5.90	24	30	37	18	17	-26	5.80	199
Consolidated Net Income / (Loss)	21	-5.90	24	30	37	18	17	-26	5.80	199
Depreciation Expense	26	26	25	25	24	25	23	31	24	22
Amortization Expense	0.50	0.20	-	-	0.30	3.50	-	-	0.90	9.80
Non-Cash Adjustments To Reconcile Net Income	15	4.20	2.50	0.90	3.50	3.10	2.60	4.60	-12	-300
Changes in Operating Assets and Liabilities, net	-95	-7.00	-60	-9.80	23	17	16	10	-3.10	34
Net Cash From Investing Activities	-6.70	-14	-22	-13	-14	-25	-19	-726	-47	960
Net Cash From Continuing Investing Activities	-6.70	-14	-22	-13	-14	-25	-19	-726	-47	960
Purchase of Property, Plant & Equipment	-6.70	-14	-22	-13	-14	-25	-19	-18	-47	-33
Net Cash From Financing Activities	-26	-1.00	-6.30	-9.00	-5.40	-109	-28	690	27	-880
Net Cash From Continuing Financing Activities	-26	-1.00	-6.20	-9.10	-5.40	-109	-28	690	27	-881
Repayment of Debt	-25	-0.90	-12	7.10	-12	-311	-24	690	-724	-872
Repurchase of Common Equity	-1.00	-0.10	-1.70	-8.40	-5.00	-2.80	-0.50	-3.00	-2.50	-4.00
Issuance of Debt	-	-	12	-	-	210	0.00	-	-	-0.10
Cash Interest Paid	15	0.70	15	0.80	15	7.90	9.90	7.90	25	9.70
Cash Income Taxes Paid	13	18	-	-	13	-11	-	-	-0.60	4.20

This table presents Clearwater Paper's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Total Assets	1,704	1,672	1,679
Total Current Assets	586	564	545
Cash & Equivalents	54	42	80
Accounts Receivable	189	96	189
Inventories, net	324	161	258
Other Current Assets	20	17	19
Other Current Nonoperating Assets	-	248	0.00
Plant, Property, & Equipment, net	1,017	361	1,023
Total Noncurrent Assets	100	747	111
Goodwill	-	42	53
Other Noncurrent Operating Assets	100	48	58
Other Noncurrent Nonoperating Assets	-	658	0.00
Total Liabilities & Shareholders' Equity	1,704	1,672	1,679
Total Liabilities	1,132	1,003	825
Total Current Liabilities	312	286	320
Short-Term Debt	0.90	0.00	0.60
Accounts Payable	311	196	320
Other Current Nonoperating Liabilities	-	91	0.00
Total Noncurrent Liabilities	820	717	504
Long-Term Debt	565	440	282
Noncurrent Deferred & Payable Income Tax Liabilities	196	85	170
Noncurrent Employee Benefit Liabilities	58	55	53
Other Noncurrent Nonoperating Liabilities	-	138	0.00
Total Equity & Noncontrolling Interests	572	669	855
Total Preferred & Common Equity	572	669	855
Preferred Stock	0.00	0.00	0.00
Total Common Equity	572	669	855
Common Stock	29	15	12
Retained Earnings	577	685	881
Treasury Stock	-	0.00	-3.30
Accumulated Other Comprehensive Income / (Loss)	-33	-31	-35

This table presents Clearwater Paper's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	1,704	1,691	1,705	1,737	1,680	2,478	2,489
Total Current Assets	570	568	592	627	576	734	732
Cash & Equivalents	51	17	42	110	55	40	36
Accounts Receivable	180	186	197	173	173	256	173
Inventories, net	327	346	340	333	328	420	265
Other Current Assets	12	20	13	11	20	18	13
Other Current Nonoperating Assets	-	-	-	-	-	-	246
Plant, Property, & Equipment, net	1,023	1,005	1,000	994	983	1,605	1,012
Plant, Property & Equipment, gross	2,969	-	-	-	-	-	2,294
Accumulated Depreciation	1,945	-	-	-	-	-	1,282
Total Noncurrent Assets	110	118	113	116	120	139	745
Goodwill	-	-	-	-	-	54	52
Other Noncurrent Operating Assets	110	118	113	116	120	85	59
Other Noncurrent Nonoperating Assets	-	-	-	-	-	-	634
Total Liabilities & Shareholders' Equity	1,704	1,691	1,705	1,737	1,680	2,478	2,489
Total Liabilities	1,134	1,099	1,091	1,088	995	1,820	1,824
Total Current Liabilities	295	266	264	261	301	423	412
Short-Term Debt	1.00	0.90	0.90	0.90	0.90	5.20	7.40
Accounts Payable	294	265	263	260	301	418	302
Other Current Nonoperating Liabilities	-	-	-	-	-	-	103
Total Noncurrent Liabilities	839	833	827	828	694	1,397	1,412
Long-Term Debt	565	565	565	565	442	1,138	1,143
Noncurrent Deferred & Payable Income Tax Liabilities	203	210	205	206	196	204	86
Noncurrent Employee Benefit Liabilities	71	58	57	57	55	55	52
Other Noncurrent Nonoperating Liabilities	-	-	-	-	-	-	131
Total Equity & Noncontrolling Interests	569	592	615	649	685	659	665
Total Preferred & Common Equity	569	592	615	649	685	659	665
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	569	592	615	649	685	659	665
Common Stock	26	25	18	15	14	14	14
Retained Earnings	583	601	630	667	702	676	682
Accumulated Other Comprehensive Income / (Loss)	-39	-33	-33	-34	-31	-31	-31

This table displays calculated financial ratios and metrics derived from Clearwater Paper's official financial filings.

Metric	2022	2023	2024
Growth Metrics	-	-	-
Revenue Growth	-32.58%	-4.94%	21.80%
EBITDA Growth	81.81%	-8.90%	-73.01%
EBIT Growth	5,750.00%	-16.45%	-180.18%
NOPAT Growth	660.67%	-9.26%	-177.87%
Net Income Growth	263.70%	134.13%	82.27%
EPS Growth	260.48%	135.07%	85.71%
Operating Cash Flow Growth	55.81%	26.96%	-67.80%
Free Cash Flow Firm Growth	-67.44%	613.76%	-194.72%
Invested Capital Growth	-3.69%	-64.04%	171.17%
Revenue Q/Q Growth	-41.51%	-38.78%	-37.95%
EBITDA Q/Q Growth	-17.02%	-12.88%	-74.03%
EBIT Q/Q Growth	-30.25%	-27.05%	-178.67%
NOPAT Q/Q Growth	-28.68%	-29.42%	-181.16%
Net Income Q/Q Growth	-25.08%	27.91%	1,226.35%
EPS Q/Q Growth	-26.58%	27.02%	1,362.50%
Operating Cash Flow Q/Q Growth	-8.86%	33.92%	-62.15%
Free Cash Flow Firm Q/Q Growth	-28.54%	1,106.48%	-2,837.02%
Invested Capital Q/Q Growth	0.00%	-64.68%	-6.73%
Profitability Metrics	-	-	-
Gross Margin	17.78%	17.67%	5.50%
EBITDA Margin	16.64%	15.95%	3.53%
Operating Margin	8.31%	6.88%	-4.66%
EBIT Margin	7.83%	6.88%	-4.53%
Profit (Net Income) Margin	3.85%	9.48%	14.19%
Tax Burden Percent	56.17%	164.18%	-194.36%
Interest Burden Percent	87.50%	83.89%	161.08%
Effective Tax Rate	35.65%	25.76%	0.00%
Return on Invested Capital (ROIC)	5.78%	7.87%	-6.24%
ROIC Less NNEP Spread (ROIC-NNEP)	2.60%	50.51%	-639.97%
Return on Net Nonoperating Assets (RNNOA)	2.71%	9.49%	32.01%
Return on Equity (ROE)	8.49%	17.36%	25.77%
Cash Return on Invested Capital (CROIC)	9.54%	102.07%	-98.47%
Operating Return on Assets (OROA)	5.52%	4.63%	-3.74%
Return on Assets (ROA)	2.71%	6.38%	11.72%
Return on Common Equity (ROCE)	8.49%	17.36%	25.77%
Return on Equity Simple (ROE_SIMPLE)	8.04%	16.10%	22.97%
Net Operating Profit after Tax (NOPAT)	64	58	-45
NOPAT Margin	5.35%	5.10%	-3.26%
Net Nonoperating Expense Percent (NNEP)	3.18%	-42.64%	633.73%
Return On Investment Capital (ROIC_SIMPLE)	5.62%	5.23%	-3.97%
Cost of Revenue to Revenue	82.22%	82.33%	94.50%
SG&A Expenses to Revenue	9.47%	10.79%	10.17%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	9.47%	10.79%	10.17%
Earnings before Interest and Taxes (EBIT)	94	78	-63
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	199	181	49
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	1.11	0.89	0.58
Price to Tangible Book Value (P/TBV)	1.11	0.95	0.62
Price to Revenue (P/Rev)	0.53	0.53	0.36
Price to Earnings (P/E)	13.78	5.55	2.51
Dividend Yield	0.00%	0.00%	0.00%
Earnings Yield	7.26%	18.00%	39.80%
Enterprise Value to Invested Capital (EV/IC)	1.06	2.55	0.66
Enterprise Value to Revenue (EV/Rev)	0.96	0.88	0.50
Enterprise Value to EBITDA (EV/EBITDA)	5.76	5.50	14.23
Enterprise Value to EBIT (EV/EBIT)	12.24	12.74	0.00
Enterprise Value to NOPAT (EV/NOPAT)	17.93	17.18	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	7.63	5.22	11.33
Enterprise Value to Free Cash Flow (EV/FCFF)	10.87	1.32	0.00
Leverage & Solvency	-	-	-
Debt to Equity	0.99	0.66	0.33
Long-Term Debt to Equity	0.99	0.66	0.33
Financial Leverage	1.04	0.19	-0.05
Leverage Ratio	3.13	2.72	2.20
Compound Leverage Factor	2.74	2.28	3.54
Debt to Total Capital	49.72%	39.68%	24.82%
Short-Term Debt to Total Capital	0.08%	0.00%	0.05%
Long-Term Debt to Total Capital	49.64%	39.68%	24.77%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%
Common Equity to Total Capital	50.27%	60.31%	75.17%
Debt to EBITDA	2.84	2.43	5.77
Net Debt to EBITDA	2.57	2.20	4.14
Long-Term Debt to EBITDA	2.84	2.43	5.76
Debt to NOPAT	8.86	7.59	-6.25
Net Debt to NOPAT	8.01	6.86	-4.49
Long-Term Debt to NOPAT	8.84	7.59	-6.24
Altman Z-Score	1.89	1.96	1.95
Noncontrolling Interest Sharing Ratio	0.01%	0.02%	0.01%
Liquidity Ratios	-	-	-
Current Ratio	1.88	1.97	1.70
Quick Ratio	0.78	0.48	0.84
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	105	752	-713
Operating Cash Flow to CapEx	448.36%	258.75%	0.00%
Free Cash Flow to Firm to Interest Expense	210.79	242.67	-78.30
Operating Cash Flow to Interest Expense	300.40	61.52	6.75
Operating Cash Flow Less CapEx to Interest Expense	233.40	37.74	103.00
Efficiency Ratios	-	-	-
Asset Turnover	0.70	0.67	0.83
Accounts Receivable Turnover	6.71	7.97	9.72
Inventory Turnover	3.27	3.86	6.24
Fixed Asset Turnover	1.14	1.65	2.00
Accounts Payable Turnover	3.49	3.69	5.08
Days Sales Outstanding (DSO)	54.40	45.77	37.57
Days Inventory Outstanding (DIO)	111.77	94.67	58.51
Days Payable Outstanding (DPO)	104.69	98.85	71.91
Cash Conversion Cycle (CCC)	61.48	41.59	24.17
Capital & Investment Metrics	-	-	-
Invested Capital	1,084	390	1,057
Invested Capital Turnover	1.08	1.54	1.91
Increase / (Decrease) in Invested Capital	-42	-694	667
Enterprise Value (EV)	1,146	996	696
Market Capitalization	634	598	493
Book Value per Share	$34.13	$40.37	$51.58
Tangible Book Value per Share	$34.13	$37.87	$48.38
Total Capital	1,138	1,109	1,137
Total Debt	566	440	282
Total Long-Term Debt	565	440	282
Net Debt	512	398	203
Capital Expenditures (CapEx)	34	74	-876
Debt-free, Cash-free Net Working Capital (DFCFNWC)	222	236	146
Debt-free Net Working Capital (DFNWC)	275	278	226
Net Working Capital (NWC)	274	278	225
Net Nonoperating Expense (NNE)	18	-50	-241
Net Nonoperating Obligations (NNO)	512	-279	203
Total Depreciation and Amortization (D&A)	105	103	112
Debt-free, Cash-free Net Working Capital to Revenue	18.54%	20.78%	10.55%
Debt-free Net Working Capital to Revenue	23.03%	24.48%	16.31%
Net Working Capital to Revenue	22.95%	24.48%	16.26%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$2.71	$6.39	$11.70
Adjusted Weighted Average Basic Shares Outstanding	16.99M	16.86M	16.78M
Adjusted Diluted Earnings per Share	$2.68	$6.30	$11.70
Adjusted Weighted Average Diluted Shares Outstanding	17.18M	17.09M	16.78M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	16.76M	16.48M	16.18M
Normalized Net Operating Profit after Tax (NOPAT)	64	58	-45
Normalized NOPAT Margin	5.35%	5.10%	-3.26%
Pre Tax Income Margin	6.85%	5.77%	-7.30%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	187.20	25.23	-6.89
NOPAT to Interest Expense	127.79	18.70	-4.96
EBIT Less CapEx to Interest Expense	120.20	1.45	89.36
NOPAT Less CapEx to Interest Expense	60.79	-5.07	91.29
Payout Ratios	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%
Augmented Payout Ratio	10.87%	16.62%	5.09%

This table displays calculated financial ratios and metrics derived from Clearwater Paper's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	19.60%	-173.17%	7.62%	-0.34%	-48.24%	46.18%	-5.56%	11.78%	41.02%	52.15%
EBITDA Growth	95.78%	-79.38%	13.71%	28.80%	-38.68%	-115.09%	-16.69%	-83.75%	-46.81%	-2,525.00%
EBIT Growth	331.82%	-161.75%	26.67%	57.48%	-56.21%	-92.90%	-23.06%	-140.51%	-104.33%	-145.15%
NOPAT Growth	55.62%	-196.05%	21.67%	45.23%	-34.98%	-27.29%	-26.63%	-138.77%	-105.07%	-149.83%
Net Income Growth	984.21%	-162.11%	43.37%	102.04%	77.67%	398.31%	-27.73%	-186.87%	-84.15%	1,031.25%
EPS Growth	1,000.00%	-159.02%	44.33%	103.49%	79.34%	372.22%	-27.14%	-188.57%	-83.87%	1,112.24%
Operating Cash Flow Growth	-18.40%	-45.63%	-122.14%	-41.33%	562.41%	277.59%	750.55%	-54.13%	-81.61%	-153.42%
Free Cash Flow Firm Growth	-24.31%	-92.43%	-97.61%	96.44%	-103.86%	2,576.20%	6,569.45%	-1,617.77%	-846.01%	-206.80%
Invested Capital Growth	-5.07%	-3.69%	2.52%	6.78%	1.83%	-64.04%	-5.99%	54.77%	2.68%	171.17%
Revenue Q/Q Growth	2.36%	-166.52%	-0.25%	-0.15%	-46.84%	-169.16%	-3.26%	18.18%	-32.93%	-123.47%
EBITDA Q/Q Growth	32.74%	-85.71%	156.75%	11.28%	-36.81%	-103.52%	-15.38%	-78.29%	106.84%	-273.55%
EBIT Q/Q Growth	57.81%	-132.63%	4,533.33%	18.80%	-56.12%	-243.75%	-13.28%	-162.54%	95.31%	-8,044.44%
NOPAT Q/Q Growth	5.19%	-164.05%	6,911.79%	19.55%	-52.90%	-225.38%	-15.86%	-163.18%	93.85%	-6,083.33%
Net Income Q/Q Growth	40.14%	-128.64%	503.39%	24.79%	23.23%	-51.91%	-2.27%	-250.00%	122.48%	3,332.76%
EPS Q/Q Growth	40.70%	-129.75%	488.89%	25.00%	24.00%	-54.84%	4.08%	-251.96%	122.58%	3,294.29%
Operating Cash Flow Q/Q Growth	-83.04%	30.83%	-152.30%	605.49%	91.52%	-25.43%	-9.89%	-64.36%	-23.22%	-316.67%
Free Cash Flow Firm Q/Q Growth	108.00%	-69.83%	-96.78%	-2,848.48%	91.32%	21,031.14%	352.78%	-807.89%	95.22%	-2,263.14%
Invested Capital Q/Q Growth	1.69%	0.00%	5.24%	-0.22%	-3.03%	-64.68%	-1.60%	64.27%	-35.66%	-6.73%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	15.59%	0.00%	14.64%	16.37%	18.14%	0.00%	15.03%	6.07%	7.65%	0.00%
EBITDA Margin	13.77%	0.00%	12.31%	13.72%	16.31%	0.00%	10.86%	2.00%	6.15%	0.00%
Operating Margin	9.08%	0.00%	7.58%	9.02%	7.42%	0.00%	6.13%	-3.33%	-0.31%	0.00%
EBIT Margin	8.82%	0.00%	7.59%	9.04%	7.46%	0.00%	6.19%	-3.27%	-0.23%	0.00%
Profit (Net Income) Margin	3.82%	0.00%	4.53%	5.66%	13.12%	0.00%	3.47%	-4.40%	1.47%	0.00%
Tax Burden Percent	52.15%	-983.33%	73.68%	74.44%	196.77%	-69.84%	71.07%	73.30%	-41.43%	-261.97%
Interest Burden Percent	83.16%	-3.87%	80.95%	84.18%	89.42%	84.28%	78.83%	183.33%	1,555.56%	103.68%
Effective Tax Rate	47.85%	-16.67%	26.01%	25.56%	19.89%	0.00%	28.93%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	8.69%	0.00%	10.53%	12.88%	10.08%	0.00%	8.08%	-3.40%	-0.43%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	7.85%	0.00%	9.53%	11.83%	14.21%	0.00%	7.14%	-4.89%	1.01%	0.00%
Return on Net Nonoperating Assets (RNNOA)	8.62%	0.00%	9.62%	10.67%	11.32%	0.00%	5.24%	-6.25%	0.71%	0.00%
Return on Equity (ROE)	17.31%	0.00%	20.15%	23.55%	21.41%	0.00%	13.32%	-9.64%	0.29%	0.00%
Cash Return on Invested Capital (CROIC)	13.25%	9.54%	4.42%	1.62%	5.70%	102.07%	17.44%	-37.79%	2.33%	-98.47%
Operating Return on Assets (OROA)	10.53%	0.00%	9.53%	11.19%	8.04%	0.00%	7.54%	-3.31%	-0.24%	0.00%
Return on Assets (ROA)	4.57%	0.00%	5.69%	7.01%	14.16%	0.00%	4.22%	-4.45%	1.56%	0.00%
Return on Common Equity (ROCE)	17.31%	0.00%	20.15%	23.55%	21.41%	0.00%	13.32%	-9.65%	0.29%	0.00%
Return on Equity Simple (ROE_SIMPLE)	10.79%	0.00%	8.99%	11.10%	12.98%	0.00%	14.77%	6.92%	2.23%	0.00%
Net Operating Profit after Tax (NOPAT)	26	-16	29	35	17	-21	22	-14	-0.84	-52
NOPAT Margin	4.73%	0.00%	5.61%	6.71%	5.95%	0.00%	4.35%	-2.33%	-0.21%	0.00%
Net Nonoperating Expense Percent (NNEP)	0.84%	-1.85%	1.00%	1.05%	-4.13%	-32.92%	0.94%	1.49%	-1.44%	658.90%
Return On Investment Capital (ROIC_SIMPLE)	-	-1.44%	-	-	-	-1.88%	-	-	-	-4.57%
Cost of Revenue to Revenue	84.41%	0.00%	85.36%	83.63%	81.86%	0.00%	84.97%	93.93%	92.35%	0.00%
SG&A Expenses to Revenue	6.11%	0.00%	6.85%	7.45%	10.15%	0.00%	7.30%	6.48%	8.03%	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	6.51%	0.00%	7.06%	7.38%	10.76%	0.00%	8.89%	9.38%	7.96%	0.00%
Earnings before Interest and Taxes (EBIT)	48	-16	40	47	21	-30	31	-19	-0.90	-73
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	74	11	65	72	46	-1.60	54	12	24	-42
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.11	1.11	0.95	0.86	0.93	0.89	1.06	1.23	0.71	0.58
Price to Tangible Book Value (P/TBV)	1.11	1.11	0.95	0.86	0.93	0.95	1.06	1.34	0.78	0.62
Price to Revenue (P/Rev)	0.31	0.53	0.26	0.25	0.33	0.53	0.35	0.38	0.21	0.36
Price to Earnings (P/E)	10.25	13.78	10.53	7.77	7.20	5.55	7.16	17.73	31.86	2.51
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	9.75%	7.26%	9.50%	12.87%	13.90%	18.00%	13.96%	5.64%	3.14%	39.80%
Enterprise Value to Invested Capital (EV/IC)	1.06	1.06	0.97	0.93	0.96	2.55	1.04	1.09	1.40	0.66
Enterprise Value to Revenue (EV/Rev)	0.56	0.96	0.52	0.50	0.57	0.88	0.54	0.90	0.71	0.50
Enterprise Value to EBITDA (EV/EBITDA)	4.78	5.76	5.06	4.45	5.10	5.50	4.20	9.12	8.44	14.23
Enterprise Value to EBIT (EV/EBIT)	8.53	12.24	9.51	7.87	9.90	12.74	6.62	18.86	19.95	0.00
Enterprise Value to NOPAT (EV/NOPAT)	12.78	17.93	14.25	11.69	12.92	17.18	8.93	25.35	28.58	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	6.95	7.63	11.09	15.59	7.45	5.22	4.29	8.17	9.80	11.33
Enterprise Value to Free Cash Flow (EV/FCFF)	7.76	10.87	22.29	59.06	17.02	1.32	5.76	0.00	61.07	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.99	0.99	0.96	0.92	0.87	0.66	0.65	1.74	1.73	0.33
Long-Term Debt to Equity	0.99	0.99	0.95	0.92	0.87	0.66	0.65	1.73	1.72	0.33
Financial Leverage	1.10	1.04	1.01	0.90	0.80	0.19	0.73	1.28	0.70	-0.05
Leverage Ratio	3.23	3.13	3.01	2.95	2.83	2.72	2.64	3.29	3.22	2.20
Compound Leverage Factor	2.68	-0.12	2.43	2.48	2.53	2.29	2.08	6.02	50.06	2.28
Debt to Total Capital	49.85%	49.72%	48.87%	47.93%	46.59%	39.68%	39.30%	63.45%	63.39%	24.82%
Short-Term Debt to Total Capital	0.09%	0.08%	0.08%	0.08%	0.07%	0.00%	0.08%	0.29%	0.41%	0.05%
Long-Term Debt to Total Capital	49.77%	49.64%	48.79%	47.86%	46.52%	39.68%	39.22%	63.16%	62.98%	24.77%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	50.15%	50.27%	51.12%	52.08%	53.41%	60.31%	60.70%	36.55%	36.61%	75.17%
Debt to EBITDA	2.36	2.84	2.58	2.39	2.72	2.43	1.67	5.45	6.11	5.77
Net Debt to EBITDA	2.15	2.57	2.50	2.21	2.19	2.20	1.46	5.26	5.92	4.14
Long-Term Debt to EBITDA	2.36	2.84	2.58	2.39	2.72	2.43	1.67	5.43	6.07	5.76
Debt to NOPAT	6.32	8.86	7.27	6.28	6.89	7.59	3.56	15.16	20.68	-6.25
Net Debt to NOPAT	5.75	8.01	7.05	5.81	5.54	6.86	3.11	14.63	20.05	-4.49
Long-Term Debt to NOPAT	6.31	8.84	7.26	6.27	6.88	7.59	3.55	15.09	20.55	-6.24
Altman Z-Score	2.30	1.67	2.35	2.37	2.23	1.75	2.50	1.63	1.59	1.93
Noncontrolling Interest Sharing Ratio	-0.01%	0.00%	0.01%	-0.01%	-0.01%	0.00%	0.01%	-0.01%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.93	1.88	2.14	2.25	2.40	1.97	1.91	1.73	1.78	1.70
Quick Ratio	0.78	0.78	0.76	0.90	1.09	0.48	0.76	0.70	0.51	0.84
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	83	25	1.35	-37	-3.22	674	90	-637	-30	-719
Operating Cash Flow to CapEx	198.51%	127.94%	-42.33%	359.38%	620.42%	260.71%	320.00%	116.57%	34.47%	-106.36%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.19	0.70	1.26	1.24	1.08	0.67	1.22	1.01	1.06	0.83
Accounts Receivable Turnover	12.03	6.71	11.81	11.02	10.50	7.97	11.43	9.35	12.90	9.72
Inventory Turnover	5.74	3.27	5.90	5.84	4.87	3.86	5.12	4.83	6.60	6.24
Fixed Asset Turnover	1.92	1.14	2.05	2.07	1.84	1.65	2.07	1.62	2.22	2.00
Accounts Payable Turnover	6.41	3.49	7.13	6.53	5.80	3.69	6.10	5.40	7.02	5.08
Days Sales Outstanding (DSO)	30.35	54.40	30.91	33.12	34.76	45.77	31.94	39.03	28.29	37.57
Days Inventory Outstanding (DIO)	63.55	111.77	61.89	62.52	74.97	94.67	71.23	75.55	55.33	58.51
Days Payable Outstanding (DPO)	56.93	104.69	51.21	55.93	62.93	98.85	59.79	67.62	51.98	71.91
Cash Conversion Cycle (CCC)	36.97	61.48	41.58	39.71	46.80	41.59	43.38	46.97	31.64	24.17
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,084	1,084	1,141	1,139	1,104	390	1,073	1,762	1,134	1,057
Invested Capital Turnover	1.84	1.08	1.88	1.92	1.70	1.54	1.86	1.46	1.99	1.91
Increase / (Decrease) in Invested Capital	-58	-42	28	72	20	-694	-68	624	30	667
Enterprise Value (EV)	1,145	1,146	1,109	1,054	1,061	996	1,112	1,912	1,590	696
Market Capitalization	629	634	560	530	606	598	724	808	475	493
Book Value per Share	$34.01	$34.13	$35.31	$36.33	$38.80	$40.37	$41.22	$39.49	$39.96	$51.58
Tangible Book Value per Share	$34.01	$34.13	$35.31	$36.33	$38.80	$37.87	$41.22	$36.24	$36.82	$48.38
Total Capital	1,135	1,138	1,158	1,180	1,214	1,109	1,128	1,802	1,815	1,137
Total Debt	566	566	566	566	566	440	443	1,143	1,151	282
Total Long-Term Debt	565	565	565	565	565	440	442	1,138	1,143	282
Net Debt	515	512	549	524	456	398	388	1,104	1,115	203
Capital Expenditures (CapEx)	6.70	14	22	13	14	25	19	18	47	33
Debt-free, Cash-free Net Working Capital (DFCFNWC)	225	222	287	288	257	236	221	276	292	146
Debt-free Net Working Capital (DFNWC)	276	275	303	330	367	278	276	316	327	226
Net Working Capital (NWC)	275	274	302	329	366	278	275	311	320	225
Net Nonoperating Expense (NNE)	4.90	-10	5.65	5.51	-20	-38	4.41	12	-6.64	-251
Net Nonoperating Obligations (NNO)	515	512	549	524	456	-279	388	1,103	469	203
Total Depreciation and Amortization (D&A)	27	26	25	25	25	28	23	31	25	31
Debt-free, Cash-free Net Working Capital to Revenue	11.03%	18.54%	13.54%	13.60%	13.84%	20.78%	10.74%	13.06%	13.08%	10.55%
Debt-free Net Working Capital to Revenue	13.51%	23.03%	14.32%	15.58%	19.78%	24.48%	13.43%	14.93%	14.67%	16.31%
Net Working Capital to Revenue	13.46%	22.95%	14.28%	15.53%	19.73%	24.48%	13.38%	14.68%	14.34%	16.26%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.23	($0.38)	$1.42	$1.76	$2.20	$1.02	$1.03	($1.55)	$0.35	$11.87
Adjusted Weighted Average Basic Shares Outstanding	16.75M	16.99M	16.83M	16.87M	16.68M	16.86M	16.61M	16.66M	16.62M	16.78M
Adjusted Diluted Earnings per Share	$1.21	($0.36)	$1.40	$1.75	$2.17	$0.98	$1.02	($1.55)	$0.35	$11.88
Adjusted Weighted Average Diluted Shares Outstanding	17.09M	17.18M	17.04M	16.96M	16.90M	17.09M	16.90M	16.66M	16.62M	16.78M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	16.76M	16.76M	16.92M	16.71M	16.56M	16.48M	16.68M	16.63M	16.57M	16.18M
Normalized Net Operating Profit after Tax (NOPAT)	26	-9.80	29	35	17	-21	22	-14	-0.84	-52
Normalized NOPAT Margin	4.73%	0.00%	5.61%	6.71%	5.95%	0.00%	4.35%	-2.33%	-0.21%	0.00%
Pre Tax Income Margin	7.33%	0.00%	6.15%	7.61%	6.67%	0.00%	4.88%	-6.00%	-3.56%	0.00%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	7.98%	10.87%	12.59%	16.42%	18.05%	16.62%	16.52%	24.78%	59.46%	5.09%

Frequently Asked Questions About Clearwater Paper's Financials

When does Clearwater Paper's financial year end?

According to the most recent income statement we have on file, Clearwater Paper's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Clearwater Paper's net income changed over the last 2 years?

Clearwater Paper's net income appears to be on an upward trend, with a most recent value of $196.30 million in 2024, rising from $46 million in 2022. The previous period was $107.70 million in 2023.

What is Clearwater Paper's operating income?

Clearwater Paper's total operating income in 2024 was -$64.50 million, based on the following breakdown:

Total Gross Profit: $76.10 million
Total Operating Expenses: $140.70 million

How has Clearwater Paper revenue changed over the last 2 years?

Over the last 2 years, Clearwater Paper's total revenue changed from $1.20 billion in 2022 to $1.38 billion in 2024, a change of 15.8%.

How much debt does Clearwater Paper have?

Clearwater Paper's total liabilities were at $824.70 million at the end of 2024, a 17.8% decrease from 2023, and a 27.1% decrease since 2022.

How much cash does Clearwater Paper have?

In the past 2 years, Clearwater Paper's cash and equivalents has ranged from $42 million in 2023 to $79.60 million in 2024, and is currently $79.60 million as of their latest financial filing in 2024.

How has Clearwater Paper's book value per share changed over the last 2 years?

Over the last 2 years, Clearwater Paper's book value per share changed from 34.13 in 2022 to 51.58 in 2024, a change of 51.1%.

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This page (NYSE:CLW) was last updated on 4/24/2025 by MarketBeat.com Staff

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Clearwater Paper (CLW) Financials

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Clearwater Paper (CLW) Financials

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