A plain-English look at International Paper's revenue, losses, growth, and market value using only its latest reported figures.
Cardboard boxes rarely make headlines, but the company that makes so many of them is having a very public, very expensive year. International Paper, the Memphis-based packaging manufacturer, just posted one of the largest annual losses in its recent history even as its sales climbed. Here's what the numbers actually say.
What the Company Makes
International Paper manufactures packaging products and accounts for roughly one-third of the North American corrugated packaging market. It also has a substantial presence in Europe following its acquisition of DS Smith. The company serves industrial, consumer products, and manufacturing end markets, and it trades on the NYSE under the ticker IP.
A Business Built Since 1949
Headquartered in Memphis, Tennessee, International Paper has been publicly traded since its December 1949 IPO. Today it employs approximately 62,602 people, a workforce scale that reflects the sheer physical footprint of running paper mills and box plants across a continent.
Revenue at $23.6 Billion
For fiscal year 2025, International Paper reported revenue of $23.6 billion. That is a large operation by any measure, and it hasn't been standing still: revenue grew 22% from fiscal year 2021 to fiscal year 2025, a meaningful expansion over that stretch.
The Loss Behind the Growth
Despite that top-line growth, the company reported a net loss of $3.5 billion in fiscal 2025. Net income for the year came in at -$3.5 billion, meaning that after all costs, the company spent considerably more than it took in. This shows up clearly in its margins.
Reading the Margins
International Paper's gross margin was 29.6%, meaning it retained roughly that share of revenue after the direct costs of production. But its net margin was -14.9%, a sign that costs beyond production — such as integration expenses, restructuring, or other charges not detailed here — pushed the bottom line deeply negative for the year.
What the Company Owns
International Paper's balance sheet lists total assets of $38.0 billion, giving a sense of the mills, equipment, facilities, and other resources the company holds even as its income statement shows a loss.
Market Value and Share Price
The company's market capitalization stands at $17.8 billion, and its shares recently traded at $42.16, based on 15-minute delayed pricing. That share price sits 24% below the stock's 52-week high, reflecting how the market has re-rated the company amid its reported losses.
A Dividend Still in Place
Even with a difficult earnings year, International Paper continues to pay a dividend, yielding about 4.39% annually at current prices — a detail that matters to income-focused shareholders evaluating the stock's total return profile.
Putting It Together
International Paper is a large, growing revenue business — up 22% over four years — that nonetheless posted a substantial net loss and negative net margin in fiscal 2025, all while maintaining its dividend and trading well off its yearly high. The combination of expanding sales and a sizable loss is the central tension in its current financial picture.
This article is factual reporting drawn from public filings and market data, not investment advice.
