Clearwater Paper (CLW) Financials

$28.97 -0.28 (-0.96%)

Closing price 05/23/2025 03:59 PM Eastern

Extended Trading

$28.94 -0.03 (-0.10%)

As of 05/23/2025 04:05 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	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Income / (Loss) Attributable to Common Shareholders	196	108	46
Consolidated Net Income / (Loss)	196	108	46
Net Income / (Loss) Continuing Operations	-74	49	53
Total Pre-Tax Income	-101	66	82
Total Operating Income	-65	78	99
Total Gross Profit	76	201	213
Total Revenue	1,384	1,136	1,195
Operating Revenue	1,384	1,136	1,195
Total Cost of Revenue	1,308	935	983
Operating Cost of Revenue	1,308	935	983
Total Operating Expenses	141	123	113
Selling, General & Admin Expense	141	123	113
Total Other Income / (Expense), net	-37	-13	-17
Interest Expense	9.10	3.10	0.50
Interest & Investment Income	-29	-9.50	-11
Other Income / (Expense), net	1.80	0.10	-5.70
Income Tax Expense	-27	17	29
Net Income / (Loss) Discontinued Operations	270	59	-6.70
Basic Earnings per Share	$11.70	$6.39	$2.71
Weighted Average Basic Shares Outstanding	16.78M	16.86M	16.99M
Diluted Earnings per Share	$11.70	$6.30	$2.68
Weighted Average Diluted Shares Outstanding	16.78M	17.09M	17.18M
Weighted Average Basic & Diluted Shares Outstanding	16.18M	16.48M	16.76M

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	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	-6.20	199	5.90	-26	17	18	37	30	24	-5.90	21
Consolidated Net Income / (Loss)	-6.30	199	5.80	-26	17	18	37	30	24	-5.90	21
Net Income / (Loss) Continuing Operations	-5.90	-55	-11	-26	17	-20	15	30	24	0.70	21
Total Pre-Tax Income	-7.60	-76	-14	-35	24	-25	19	40	32	0.60	40
Total Operating Income	-4.00	-74	-1.20	-20	30	-30	21	47	40	-14	49
Total Gross Profit	37	-64	30	36	75	-13	51	86	77	-8.90	84
Total Revenue	378	-92	393	586	496	-193	279	525	525	-358	539
Operating Revenue	378	-92	393	586	496	-193	279	525	525	-358	539
Total Cost of Revenue	342	-28	363	551	422	-180	228	439	449	-350	455
Operating Cost of Revenue	342	-28	363	551	422	-180	228	439	449	-350	455
Total Operating Expenses	41	10	31	55	44	17	30	39	37	5.20	35
Selling, General & Admin Expense	41	35	32	38	36	19	28	39	36	13	33
Total Other Income / (Expense), net	-3.60	-1.80	-13	-16	-6.20	4.50	-2.10	-7.40	-7.50	15	-9.40
Interest & Investment Income	-3.30	6.40	-13	-16	-6.50	7.80	-2.20	-7.50	-7.60	16	-8.00
Other Income / (Expense), net	-0.30	0.90	0.30	0.30	0.30	-0.20	0.10	0.10	0.10	-1.50	-1.40
Income Tax Expense	-1.80	-21	-3.30	-9.40	7.00	-5.40	3.70	10	8.40	-0.10	19
Net Income / (Loss) Discontinued Operations	-0.40	-	17	-	-	-	22	-	-	-	-
Basic Earnings per Share	($0.38)	$11.87	$0.35	($1.55)	$1.03	$1.02	$2.19	$1.76	$1.42	($0.38)	$1.23
Weighted Average Basic Shares Outstanding	16.38M	16.78M	16.62M	16.66M	16.61M	16.86M	16.68M	16.87M	16.83M	16.99M	16.75M
Diluted Earnings per Share	($0.38)	$11.88	$0.35	($1.55)	$1.02	$0.98	$2.17	$1.75	$1.40	($0.36)	$1.21
Weighted Average Diluted Shares Outstanding	16.26M	16.78M	16.62M	16.66M	16.90M	17.09M	16.90M	16.96M	17.04M	17.18M	17.09M
Weighted Average Basic & Diluted Shares Outstanding	16.26M	16.18M	16.57M	16.63M	16.68M	16.48M	16.56M	16.71M	16.92M	16.76M	16.76M

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	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Change in Cash & Equivalents	38	-12	28
Net Cash From Operating Activities	61	191	150
Net Cash From Continuing Operating Activities	62	191	150
Net Income / (Loss) Continuing Operations	196	108	46
Consolidated Net Income / (Loss)	196	108	46
Depreciation Expense	100	99	103
Amortization Expense	12	4.40	2.00
Non-Cash Adjustments To Reconcile Net Income	-304	10	22
Changes in Operating Assets and Liabilities, net	58	-30	-23
Net Cash From Investing Activities	168	-74	-34
Net Cash From Continuing Investing Activities	168	-74	-34
Purchase of Property, Plant & Equipment	-117	-74	-34
Acquisitions	-708	0.00	0.00
Sale of Property, Plant & Equipment	993	0.00	0.00
Net Cash From Financing Activities	-191	-129	-89
Net Cash From Continuing Financing Activities	-192	-129	-89
Repayment of Debt	-931	-329	-81
Repurchase of Common Equity	-10	-18	-5.00
Issuance of Debt	753	222	0.00
Other Financing Activities, net	-4.10	-4.70	-2.50
Cash Interest Paid	52	38	33
Cash Income Taxes Paid	19	17	43

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	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-36	44	-4.10	-16	13	-68	69	24	-37	2.90	-65
Net Cash From Operating Activities	1.50	-35	16	21	59	66	88	46	-9.10	17	13
Net Cash From Continuing Operating Activities	1.50	-35	16	21	59	66	88	46	-9.20	17	-33
Net Income / (Loss) Continuing Operations	-6.30	199	5.80	-26	17	18	37	30	24	-5.90	21
Consolidated Net Income / (Loss)	-6.30	199	5.80	-26	17	18	37	30	24	-5.90	21
Depreciation Expense	22	22	24	31	23	25	24	25	25	26	26
Non-Cash Adjustments To Reconcile Net Income	1.00	-300	-12	4.60	2.60	3.10	3.50	0.90	2.50	4.20	15
Changes in Operating Assets and Liabilities, net	-15	34	-3.10	10	16	17	23	-9.80	-60	-7.00	-95
Net Cash From Investing Activities	-33	960	-47	-726	-19	-25	-14	-13	-22	-14	-6.70
Net Cash From Continuing Investing Activities	-33	960	-47	-726	-19	-25	-14	-13	-22	-14	-6.70
Purchase of Property, Plant & Equipment	-33	-33	-47	-18	-19	-25	-14	-13	-22	-14	-6.70
Net Cash From Financing Activities	-4.40	-880	27	690	-28	-109	-5.40	-9.00	-6.30	-1.00	-26
Net Cash From Continuing Financing Activities	-4.50	-881	27	690	-28	-109	-5.40	-9.10	-6.20	-1.00	-26
Repayment of Debt	8.70	-872	-724	690	-24	-311	-12	7.10	-12	-0.90	-25
Repurchase of Common Equity	-11	-4.00	-2.50	-3.00	-0.50	-2.80	-5.00	-8.40	-1.70	-0.10	-1.00
Other Financing Activities, net	-2.30	-	-	-	-3.10	-	-	-	-4.20	-	-
Cash Interest Paid	6.50	9.70	25	7.90	9.90	7.90	15	0.80	15	0.70	15
Cash Income Taxes Paid	0.20	4.20	-0.60	-	-	-11	13	-	-	18	13

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

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	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	1,634	2,489	2,478	1,680	1,737	1,705	1,691	1,704
Total Current Assets	500	732	734	576	627	592	568	570
Cash & Equivalents	44	36	40	55	110	42	17	51
Accounts Receivable	177	173	256	173	173	197	186	180
Inventories, net	259	265	420	328	333	340	346	327
Other Current Assets	19	13	18	20	11	13	20	12
Plant, Property, & Equipment, net	1,030	1,012	1,605	983	994	1,000	1,005	1,023
Plant, Property & Equipment, gross	2,357	2,294	-	-	-	-	-	2,969
Accumulated Depreciation	1,327	1,282	-	-	-	-	-	1,945
Total Noncurrent Assets	104	745	139	120	116	113	118	110
Goodwill	52	52	54	-	-	-	-	-
Other Noncurrent Operating Assets	52	59	85	120	116	113	118	110
Total Liabilities & Shareholders' Equity	1,634	2,489	2,478	1,680	1,737	1,705	1,691	1,704
Total Liabilities	797	1,824	1,820	995	1,088	1,091	1,099	1,134
Total Current Liabilities	300	412	423	301	261	264	266	295
Short-Term Debt	0.60	7.40	5.20	0.90	0.90	0.90	0.90	1.00
Accounts Payable	300	302	418	301	260	263	265	294
Total Noncurrent Liabilities	497	1,412	1,397	694	828	827	833	839
Long-Term Debt	282	1,143	1,138	442	565	565	565	565
Noncurrent Deferred & Payable Income Tax Liabilities	163	86	204	196	206	205	210	203
Noncurrent Employee Benefit Liabilities	52	52	55	55	57	57	58	71
Total Equity & Noncontrolling Interests	837	665	659	685	649	615	592	569
Total Preferred & Common Equity	837	665	659	685	649	615	592	569
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	837	665	659	685	649	615	592	569
Common Stock	5.00	14	14	14	15	18	25	26
Retained Earnings	875	682	676	702	667	630	601	583
Treasury Stock	-8.50	-	-	-	-	-	-	-
Accumulated Other Comprehensive Income / (Loss)	-35	-31	-31	-31	-34	-33	-33	-39

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

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Growth Metrics	-	-	-
Revenue Growth	21.80%	-4.94%	-32.58%
EBITDA Growth	-73.01%	-8.90%	81.81%
EBIT Growth	-180.18%	-16.45%	5,750.00%
NOPAT Growth	-177.87%	-9.26%	660.67%
Net Income Growth	82.27%	134.13%	263.70%
EPS Growth	85.71%	135.07%	260.48%
Operating Cash Flow Growth	-67.80%	26.96%	55.81%
Free Cash Flow Firm Growth	-194.72%	613.76%	-67.44%
Invested Capital Growth	171.17%	-64.04%	-3.69%
Revenue Q/Q Growth	-37.95%	-38.78%	-41.51%
EBITDA Q/Q Growth	-74.03%	-12.88%	-17.02%
EBIT Q/Q Growth	-178.67%	-27.05%	-30.25%
NOPAT Q/Q Growth	-181.16%	-29.42%	-28.68%
Net Income Q/Q Growth	1,226.35%	27.91%	-25.08%
EPS Q/Q Growth	1,362.50%	27.02%	-26.58%
Operating Cash Flow Q/Q Growth	-62.15%	33.92%	-8.86%
Free Cash Flow Firm Q/Q Growth	-2,837.02%	1,106.48%	-28.54%
Invested Capital Q/Q Growth	-6.73%	-64.68%	0.00%
Profitability Metrics	-	-	-
Gross Margin	5.50%	17.67%	17.78%
EBITDA Margin	3.53%	15.95%	16.64%
Operating Margin	-4.66%	6.88%	8.31%
EBIT Margin	-4.53%	6.88%	7.83%
Profit (Net Income) Margin	14.19%	9.48%	3.85%
Tax Burden Percent	-194.36%	164.18%	56.17%
Interest Burden Percent	161.08%	83.89%	87.50%
Effective Tax Rate	0.00%	25.76%	35.65%
Return on Invested Capital (ROIC)	-6.24%	7.87%	5.78%
ROIC Less NNEP Spread (ROIC-NNEP)	-639.97%	50.51%	2.60%
Return on Net Nonoperating Assets (RNNOA)	32.01%	9.49%	2.71%
Return on Equity (ROE)	25.77%	17.36%	8.49%
Cash Return on Invested Capital (CROIC)	-98.47%	102.07%	9.54%
Operating Return on Assets (OROA)	-3.74%	4.63%	5.52%
Return on Assets (ROA)	11.72%	6.38%	2.71%
Return on Common Equity (ROCE)	25.77%	17.36%	8.49%
Return on Equity Simple (ROE_SIMPLE)	22.97%	16.10%	8.04%
Net Operating Profit after Tax (NOPAT)	-45	58	64
NOPAT Margin	-3.26%	5.10%	5.35%
Net Nonoperating Expense Percent (NNEP)	633.73%	-42.64%	3.18%
Return On Investment Capital (ROIC_SIMPLE)	-3.97%	5.23%	5.62%
Cost of Revenue to Revenue	94.50%	82.33%	82.22%
SG&A Expenses to Revenue	10.17%	10.79%	9.47%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	10.17%	10.79%	9.47%
Earnings before Interest and Taxes (EBIT)	-63	78	94
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	49	181	199
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	0.58	0.89	1.11
Price to Tangible Book Value (P/TBV)	0.62	0.95	1.11
Price to Revenue (P/Rev)	0.36	0.53	0.53
Price to Earnings (P/E)	2.51	5.55	13.78
Dividend Yield	0.00%	0.00%	0.00%
Earnings Yield	39.80%	18.00%	7.26%
Enterprise Value to Invested Capital (EV/IC)	0.66	2.55	1.06
Enterprise Value to Revenue (EV/Rev)	0.50	0.88	0.96
Enterprise Value to EBITDA (EV/EBITDA)	14.23	5.50	5.76
Enterprise Value to EBIT (EV/EBIT)	0.00	12.74	12.24
Enterprise Value to NOPAT (EV/NOPAT)	0.00	17.18	17.93
Enterprise Value to Operating Cash Flow (EV/OCF)	11.33	5.22	7.63
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	1.32	10.87
Leverage & Solvency	-	-	-
Debt to Equity	0.33	0.66	0.99
Long-Term Debt to Equity	0.33	0.66	0.99
Financial Leverage	-0.05	0.19	1.04
Leverage Ratio	2.20	2.72	3.13
Compound Leverage Factor	3.54	2.28	2.74
Debt to Total Capital	24.82%	39.68%	49.72%
Short-Term Debt to Total Capital	0.05%	0.00%	0.08%
Long-Term Debt to Total Capital	24.77%	39.68%	49.64%
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	75.17%	60.31%	50.27%
Debt to EBITDA	5.77	2.43	2.84
Net Debt to EBITDA	4.14	2.20	2.57
Long-Term Debt to EBITDA	5.76	2.43	2.84
Debt to NOPAT	-6.25	7.59	8.86
Net Debt to NOPAT	-4.49	6.86	8.01
Long-Term Debt to NOPAT	-6.24	7.59	8.84
Altman Z-Score	1.95	1.96	1.89
Noncontrolling Interest Sharing Ratio	0.01%	0.02%	0.01%
Liquidity Ratios	-	-	-
Current Ratio	1.70	1.97	1.88
Quick Ratio	0.84	0.48	0.78
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	-713	752	105
Operating Cash Flow to CapEx	0.00%	258.75%	448.36%
Free Cash Flow to Firm to Interest Expense	-78.30	242.67	210.79
Operating Cash Flow to Interest Expense	6.75	61.52	300.40
Operating Cash Flow Less CapEx to Interest Expense	103.00	37.74	233.40
Efficiency Ratios	-	-	-
Asset Turnover	0.83	0.67	0.70
Accounts Receivable Turnover	9.72	7.97	6.71
Inventory Turnover	6.24	3.86	3.27
Fixed Asset Turnover	2.00	1.65	1.14
Accounts Payable Turnover	5.08	3.69	3.49
Days Sales Outstanding (DSO)	37.57	45.77	54.40
Days Inventory Outstanding (DIO)	58.51	94.67	111.77
Days Payable Outstanding (DPO)	71.91	98.85	104.69
Cash Conversion Cycle (CCC)	24.17	41.59	61.48
Capital & Investment Metrics	-	-	-
Invested Capital	1,057	390	1,084
Invested Capital Turnover	1.91	1.54	1.08
Increase / (Decrease) in Invested Capital	667	-694	-42
Enterprise Value (EV)	696	996	1,146
Market Capitalization	493	598	634
Book Value per Share	$51.58	$40.37	$34.13
Tangible Book Value per Share	$48.38	$37.87	$34.13
Total Capital	1,137	1,109	1,138
Total Debt	282	440	566
Total Long-Term Debt	282	440	565
Net Debt	203	398	512
Capital Expenditures (CapEx)	-876	74	34
Debt-free, Cash-free Net Working Capital (DFCFNWC)	146	236	222
Debt-free Net Working Capital (DFNWC)	226	278	275
Net Working Capital (NWC)	225	278	274
Net Nonoperating Expense (NNE)	-241	-50	18
Net Nonoperating Obligations (NNO)	203	-279	512
Total Depreciation and Amortization (D&A)	112	103	105
Debt-free, Cash-free Net Working Capital to Revenue	10.55%	20.78%	18.54%
Debt-free Net Working Capital to Revenue	16.31%	24.48%	23.03%
Net Working Capital to Revenue	16.26%	24.48%	22.95%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$11.70	$6.39	$2.71
Adjusted Weighted Average Basic Shares Outstanding	16.78M	16.86M	16.99M
Adjusted Diluted Earnings per Share	$11.70	$6.30	$2.68
Adjusted Weighted Average Diluted Shares Outstanding	16.78M	17.09M	17.18M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	16.18M	16.48M	16.76M
Normalized Net Operating Profit after Tax (NOPAT)	-45	58	64
Normalized NOPAT Margin	-3.26%	5.10%	5.35%
Pre Tax Income Margin	-7.30%	5.77%	6.85%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	-6.89	25.23	187.20
NOPAT to Interest Expense	-4.96	18.70	127.79
EBIT Less CapEx to Interest Expense	89.36	1.45	120.20
NOPAT Less CapEx to Interest Expense	91.29	-5.07	60.79
Payout Ratios	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%
Augmented Payout Ratio	5.09%	16.62%	10.87%

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

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	46.14%	52.15%	41.02%	11.78%	-5.56%	46.18%	-48.24%	-0.34%	7.62%	-173.17%	19.60%
EBITDA Growth	-22.03%	-2,525.00%	-46.81%	-83.75%	-16.69%	-115.09%	-38.68%	28.80%	13.71%	-79.38%	95.78%
EBIT Growth	-760.00%	-145.15%	-104.33%	-140.51%	-23.06%	-92.90%	-56.21%	57.48%	26.67%	-161.75%	331.82%
NOPAT Growth	-400.00%	-149.83%	-105.07%	-138.77%	-26.63%	-27.29%	-34.98%	45.23%	21.67%	-196.05%	55.62%
Net Income Growth	-136.63%	1,031.25%	-84.15%	-186.87%	-27.73%	398.31%	77.67%	102.04%	43.37%	-162.11%	984.21%
EPS Growth	-136.89%	1,112.24%	-83.87%	-188.57%	-27.14%	372.22%	79.34%	103.49%	44.33%	-159.02%	1,000.00%
Operating Cash Flow Growth	-97.47%	-153.42%	-81.61%	-54.13%	750.55%	277.59%	562.41%	-41.33%	-122.14%	-45.63%	-18.40%
Free Cash Flow Firm Growth	-107.37%	-206.80%	-846.01%	-1,617.77%	6,569.45%	2,576.20%	-103.86%	96.44%	-97.61%	-92.43%	-24.31%
Invested Capital Growth	0.21%	171.17%	2.68%	54.77%	-5.99%	-64.04%	1.83%	6.78%	2.52%	-3.69%	-5.07%
Revenue Q/Q Growth	509.75%	-123.47%	-32.93%	18.18%	-3.26%	-169.16%	-46.84%	-0.15%	-0.25%	-166.52%	2.36%
EBITDA Q/Q Growth	142.14%	-273.55%	106.84%	-78.29%	-15.38%	-103.52%	-36.81%	11.28%	156.75%	-85.71%	32.74%
EBIT Q/Q Growth	94.13%	-8,044.44%	95.31%	-162.54%	-13.28%	-243.75%	-56.12%	18.80%	4,533.33%	-132.63%	57.81%
NOPAT Q/Q Growth	94.61%	-6,083.33%	93.85%	-163.18%	-15.86%	-225.38%	-52.90%	19.55%	6,911.79%	-164.05%	5.19%
Net Income Q/Q Growth	-103.16%	3,332.76%	122.48%	-250.00%	-2.27%	-51.91%	23.23%	24.79%	503.39%	-128.64%	40.14%
EPS Q/Q Growth	-103.20%	3,294.29%	122.58%	-251.96%	4.08%	-54.84%	24.00%	25.00%	488.89%	-129.75%	40.70%
Operating Cash Flow Q/Q Growth	104.27%	-316.67%	-23.22%	-64.36%	-9.89%	-25.43%	91.52%	605.49%	-152.30%	30.83%	-83.04%
Free Cash Flow Firm Q/Q Growth	99.30%	-2,263.14%	95.22%	-807.89%	352.78%	21,031.14%	91.32%	-2,848.48%	-96.78%	-69.83%	108.00%
Invested Capital Q/Q Growth	1.66%	-6.73%	-35.66%	64.27%	-1.60%	-64.68%	-3.03%	-0.22%	5.24%	0.00%	1.69%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	9.70%	0.00%	7.65%	6.07%	15.03%	0.00%	18.14%	16.37%	14.64%	0.00%	15.59%
EBITDA Margin	4.68%	0.00%	6.15%	2.00%	10.86%	0.00%	16.31%	13.72%	12.31%	0.00%	13.77%
Operating Margin	-1.06%	0.00%	-0.31%	-3.33%	6.13%	0.00%	7.42%	9.02%	7.58%	0.00%	9.08%
EBIT Margin	-1.14%	0.00%	-0.23%	-3.27%	6.19%	0.00%	7.46%	9.04%	7.59%	0.00%	8.82%
Profit (Net Income) Margin	-1.67%	0.00%	1.47%	-4.40%	3.47%	0.00%	13.12%	5.66%	4.53%	0.00%	3.82%
Tax Burden Percent	82.89%	-261.97%	-41.43%	73.30%	71.07%	-69.84%	196.77%	74.44%	73.68%	-983.33%	52.15%
Interest Burden Percent	176.74%	103.68%	1,555.56%	183.33%	78.83%	84.28%	89.42%	84.18%	80.95%	-3.87%	83.16%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	28.93%	0.00%	19.89%	25.56%	26.01%	-16.67%	47.85%
Return on Invested Capital (ROIC)	-1.04%	0.00%	-0.43%	-3.40%	8.08%	0.00%	10.08%	12.88%	10.53%	0.00%	8.69%
ROIC Less NNEP Spread (ROIC-NNEP)	-2.15%	0.00%	1.01%	-4.89%	7.14%	0.00%	14.21%	11.83%	9.53%	0.00%	7.85%
Return on Net Nonoperating Assets (RNNOA)	-0.89%	0.00%	0.71%	-6.25%	5.24%	0.00%	11.32%	10.67%	9.62%	0.00%	8.62%
Return on Equity (ROE)	-1.92%	0.00%	0.29%	-9.64%	13.32%	0.00%	21.41%	23.55%	20.15%	0.00%	17.31%
Cash Return on Invested Capital (CROIC)	-4.62%	-98.47%	2.33%	-37.79%	17.44%	102.07%	5.70%	1.62%	4.42%	9.54%	13.25%
Operating Return on Assets (OROA)	-1.03%	0.00%	-0.24%	-3.31%	7.54%	0.00%	8.04%	11.19%	9.53%	0.00%	10.53%
Return on Assets (ROA)	-1.51%	0.00%	1.56%	-4.45%	4.22%	0.00%	14.16%	7.01%	5.69%	0.00%	4.57%
Return on Common Equity (ROCE)	-1.92%	0.00%	0.29%	-9.65%	13.32%	0.00%	21.41%	23.55%	20.15%	0.00%	17.31%
Return on Equity Simple (ROE_SIMPLE)	20.66%	0.00%	2.23%	6.92%	14.77%	0.00%	12.98%	11.10%	8.99%	0.00%	10.79%
Net Operating Profit after Tax (NOPAT)	-2.80	-52	-0.84	-14	22	-21	17	35	29	-16	26
NOPAT Margin	-0.74%	0.00%	-0.21%	-2.33%	4.35%	0.00%	5.95%	6.71%	5.61%	0.00%	4.73%
Net Nonoperating Expense Percent (NNEP)	1.12%	658.90%	-1.44%	1.49%	0.94%	-32.92%	-4.13%	1.05%	1.00%	-1.85%	0.84%
Return On Investment Capital (ROIC_SIMPLE)	-0.25%	-4.57%	-	-	-	-1.88%	-	-	-	-1.44%	-
Cost of Revenue to Revenue	90.30%	0.00%	92.35%	93.93%	84.97%	0.00%	81.86%	83.63%	85.36%	0.00%	84.41%
SG&A Expenses to Revenue	10.76%	0.00%	8.03%	6.48%	7.30%	0.00%	10.15%	7.45%	6.85%	0.00%	6.11%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	10.76%	0.00%	7.96%	9.38%	8.89%	0.00%	10.76%	7.38%	7.06%	0.00%	6.51%
Earnings before Interest and Taxes (EBIT)	-4.30	-73	-0.90	-19	31	-30	21	47	40	-16	48
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	18	-42	24	12	54	-1.60	46	72	65	11	74
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.49	0.58	0.71	1.23	1.06	0.89	0.93	0.86	0.95	1.11	1.11
Price to Tangible Book Value (P/TBV)	0.52	0.62	0.78	1.34	1.06	0.95	0.93	0.86	0.95	1.11	1.11
Price to Revenue (P/Rev)	0.27	0.36	0.21	0.38	0.35	0.53	0.33	0.25	0.26	0.53	0.31
Price to Earnings (P/E)	2.37	2.51	31.86	17.73	7.16	5.55	7.20	7.77	10.53	13.78	10.25
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	42.13%	39.80%	3.14%	5.64%	13.96%	18.00%	13.90%	12.87%	9.50%	7.26%	9.75%
Enterprise Value to Invested Capital (EV/IC)	0.60	0.66	1.40	1.09	1.04	2.55	0.96	0.93	0.97	1.06	1.06
Enterprise Value to Revenue (EV/Rev)	0.43	0.50	0.71	0.90	0.54	0.88	0.57	0.50	0.52	0.96	0.56
Enterprise Value to EBITDA (EV/EBITDA)	20.20	14.23	8.44	9.12	4.20	5.50	5.10	4.45	5.06	5.76	4.78
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	19.95	18.86	6.62	12.74	9.90	7.87	9.51	12.24	8.53
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	28.58	25.35	8.93	17.18	12.92	11.69	14.25	17.93	12.78
Enterprise Value to Operating Cash Flow (EV/OCF)	175.29	11.33	9.80	8.17	4.29	5.22	7.45	15.59	11.09	7.63	6.95
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	61.07	0.00	5.76	1.32	17.02	59.06	22.29	10.87	7.76
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.34	0.33	1.73	1.74	0.65	0.66	0.87	0.92	0.96	0.99	0.99
Long-Term Debt to Equity	0.34	0.33	1.72	1.73	0.65	0.66	0.87	0.92	0.95	0.99	0.99
Financial Leverage	0.41	-0.05	0.70	1.28	0.73	0.19	0.80	0.90	1.01	1.04	1.10
Leverage Ratio	2.18	2.20	3.22	3.29	2.64	2.72	2.83	2.95	3.01	3.13	3.23
Compound Leverage Factor	3.85	2.28	50.06	6.02	2.08	2.29	2.53	2.48	2.43	-0.12	2.68
Debt to Total Capital	25.22%	24.82%	63.39%	63.45%	39.30%	39.68%	46.59%	47.93%	48.87%	49.72%	49.85%
Short-Term Debt to Total Capital	0.05%	0.05%	0.41%	0.29%	0.08%	0.00%	0.07%	0.08%	0.08%	0.08%	0.09%
Long-Term Debt to Total Capital	25.17%	24.77%	62.98%	63.16%	39.22%	39.68%	46.52%	47.86%	48.79%	49.64%	49.77%
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%	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%	0.00%
Common Equity to Total Capital	74.77%	75.17%	36.61%	36.55%	60.70%	60.31%	53.41%	52.08%	51.12%	50.27%	50.15%
Debt to EBITDA	8.79	5.77	6.11	5.45	1.67	2.43	2.72	2.39	2.58	2.84	2.36
Net Debt to EBITDA	7.42	4.14	5.92	5.26	1.46	2.20	2.19	2.21	2.50	2.57	2.15
Long-Term Debt to EBITDA	8.77	5.76	6.07	5.43	1.67	2.43	2.72	2.39	2.58	2.84	2.36
Debt to NOPAT	-5.95	-6.25	20.68	15.16	3.56	7.59	6.89	6.28	7.27	8.86	6.32
Net Debt to NOPAT	-5.03	-4.49	20.05	14.63	3.11	6.86	5.54	5.81	7.05	8.01	5.75
Long-Term Debt to NOPAT	-5.94	-6.24	20.55	15.09	3.55	7.59	6.88	6.27	7.26	8.84	6.31
Altman Z-Score	2.12	1.93	1.59	1.63	2.50	1.75	2.23	2.37	2.35	1.67	2.30
Noncontrolling Interest Sharing Ratio	0.01%	0.00%	0.00%	-0.01%	0.01%	0.00%	-0.01%	-0.01%	0.01%	0.00%	-0.01%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.66	1.70	1.78	1.73	1.91	1.97	2.40	2.25	2.14	1.88	1.93
Quick Ratio	0.74	0.84	0.51	0.70	0.76	0.48	1.09	0.90	0.76	0.78	0.78
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-5.00	-719	-30	-637	90	674	-3.22	-37	1.35	25	83
Operating Cash Flow to CapEx	4.59%	-106.36%	34.47%	116.57%	320.00%	260.71%	620.42%	359.38%	-42.33%	127.94%	198.51%
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	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	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	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.91	0.83	1.06	1.01	1.22	0.67	1.08	1.24	1.26	0.70	1.19
Accounts Receivable Turnover	8.58	9.72	12.90	9.35	11.43	7.97	10.50	11.02	11.81	6.71	12.03
Inventory Turnover	4.85	6.24	6.60	4.83	5.12	3.86	4.87	5.84	5.90	3.27	5.74
Fixed Asset Turnover	1.49	2.00	2.22	1.62	2.07	1.65	1.84	2.07	2.05	1.14	1.92
Accounts Payable Turnover	4.74	5.08	7.02	5.40	6.10	3.69	5.80	6.53	7.13	3.49	6.41
Days Sales Outstanding (DSO)	42.56	37.57	28.29	39.03	31.94	45.77	34.76	33.12	30.91	54.40	30.35
Days Inventory Outstanding (DIO)	75.27	58.51	55.33	75.55	71.23	94.67	74.97	62.52	61.89	111.77	63.55
Days Payable Outstanding (DPO)	76.94	71.91	51.98	67.62	59.79	98.85	62.93	55.93	51.21	104.69	56.93
Cash Conversion Cycle (CCC)	40.89	24.17	31.64	46.97	43.38	41.59	46.80	39.71	41.58	61.48	36.97
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,075	1,057	1,134	1,762	1,073	390	1,104	1,139	1,141	1,084	1,084
Invested Capital Turnover	1.40	1.91	1.99	1.46	1.86	1.54	1.70	1.92	1.88	1.08	1.84
Increase / (Decrease) in Invested Capital	2.20	667	30	624	-68	-694	20	72	28	-42	-58
Enterprise Value (EV)	649	696	1,590	1,912	1,112	996	1,061	1,054	1,109	1,146	1,145
Market Capitalization	410	493	475	808	724	598	606	530	560	634	629
Book Value per Share	$51.08	$51.58	$39.96	$39.49	$41.22	$40.37	$38.80	$36.33	$35.31	$34.13	$34.01
Tangible Book Value per Share	$47.88	$48.38	$36.82	$36.24	$41.22	$37.87	$38.80	$36.33	$35.31	$34.13	$34.01
Total Capital	1,119	1,137	1,815	1,802	1,128	1,109	1,214	1,180	1,158	1,138	1,135
Total Debt	282	282	1,151	1,143	443	440	566	566	566	566	566
Total Long-Term Debt	282	282	1,143	1,138	442	440	565	565	565	565	565
Net Debt	238	203	1,115	1,104	388	398	456	524	549	512	515
Capital Expenditures (CapEx)	33	33	47	18	19	25	14	13	22	14	6.70
Debt-free, Cash-free Net Working Capital (DFCFNWC)	156	146	292	276	221	236	257	288	287	222	225
Debt-free Net Working Capital (DFNWC)	200	226	327	316	276	278	367	330	303	275	276
Net Working Capital (NWC)	199	225	320	311	275	278	366	329	302	274	275
Net Nonoperating Expense (NNE)	3.50	-251	-6.64	12	4.41	-38	-20	5.51	5.65	-10	4.90
Net Nonoperating Obligations (NNO)	238	203	469	1,103	388	-279	456	524	549	512	515
Total Depreciation and Amortization (D&A)	22	31	25	31	23	28	25	25	25	26	27
Debt-free, Cash-free Net Working Capital to Revenue	10.38%	10.55%	13.08%	13.06%	10.74%	20.78%	13.84%	13.60%	13.54%	18.54%	11.03%
Debt-free Net Working Capital to Revenue	13.31%	16.31%	14.67%	14.93%	13.43%	24.48%	19.78%	15.58%	14.32%	23.03%	13.51%
Net Working Capital to Revenue	13.27%	16.26%	14.34%	14.68%	13.38%	24.48%	19.73%	15.53%	14.28%	22.95%	13.46%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.38)	$11.87	$0.35	($1.55)	$1.03	$1.02	$2.20	$1.76	$1.42	($0.38)	$1.23
Adjusted Weighted Average Basic Shares Outstanding	16.38M	16.78M	16.62M	16.66M	16.61M	16.86M	16.68M	16.87M	16.83M	16.99M	16.75M
Adjusted Diluted Earnings per Share	($0.38)	$11.88	$0.35	($1.55)	$1.02	$0.98	$2.17	$1.75	$1.40	($0.36)	$1.21
Adjusted Weighted Average Diluted Shares Outstanding	16.26M	16.78M	16.62M	16.66M	16.90M	17.09M	16.90M	16.96M	17.04M	17.18M	17.09M
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	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	16.26M	16.18M	16.57M	16.63M	16.68M	16.48M	16.56M	16.71M	16.92M	16.76M	16.76M
Normalized Net Operating Profit after Tax (NOPAT)	-2.80	-52	-0.84	-14	22	-21	17	35	29	-9.80	26
Normalized NOPAT Margin	-0.74%	0.00%	-0.21%	-2.33%	4.35%	0.00%	5.95%	6.71%	5.61%	0.00%	4.73%
Pre Tax Income Margin	-2.01%	0.00%	-3.56%	-6.00%	4.88%	0.00%	6.67%	7.61%	6.15%	0.00%	7.33%
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	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	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	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	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%	0.00%
Augmented Payout Ratio	11.81%	5.09%	59.46%	24.78%	16.52%	16.62%	18.05%	16.42%	12.59%	10.87%	7.98%

Frequently Asked Questions About Clearwater Paper's Financials

When does Clearwater Paper's fiscal year end?

According to the most recent income statement we have on file, Clearwater Paper's financial year ends in December. Their financial 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. See Clearwater Paper's forecast for analyst expectations on what’s next for the company.

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 5/25/2025 by MarketBeat.com Staff

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Clearwater Paper (CLW) Financials

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Clearwater Paper (CLW) Financials

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