Clearwater Paper Corporation (CLW) 10-Year Financial Performance & Capital Metrics

CLW • • Industrial / General

Basic MaterialsPaper & Forest ProductsPulp & Paper ManufacturingTissue & Consumer Paper Products

AboutClearwater Paper Corporation manufactures and supplies bleached paperboards, and consumer and parent roll tissues in the United States and internationally. It operates through two segments, Pulp and Paperboard, and Consumer Products. The Pulp and Paperboard segment offers folding cartons, liquid packaging, cups and plates, blister and carded packaging products, top sheet and commercial printing items, and softwood pulp products, as well as custom sheeting, slitting, and cutting of paperboard products. It sells its products to packaging converters, folding carton converters, merchants, and commercial printers. The Consumer Products segment provides a line of at-home tissue products, including bath tissues, paper towels, facial tissues, and napkins; recycled fiber value grade products; and away-from-home tissues. This segment sells its products to retailers and wholesale distributors, including grocery, club, mass merchants, and discount stores. Clearwater Paper Corporation was incorporated in 2005 and is headquartered in Spokane, Washington.Show more

Revenue $1.38B +21.8%
EBITDA $29M -86.8%
Net Income -$111M -203.0%
EPS (Diluted) 11.70 +85.7%
Gross Margin 5.5% -68.9%
EBITDA Margin 2.08% -89.1%
Operating Margin -2.96% -119.0%
Net Margin -8.02% -184.5%
ROE -14.56% -183.9%
ROIC -2.8% -123.5%
Debt/Equity 0.38 -46.7%
Interest Coverage -1.28 -108.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Trading at only 0.4x book value

✗Weaknesses

✗Weak 3Y average ROE of 3.8%
✗Negative free cash flow
✗Thin 5Y average net margin of 1.2%
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-3.46%

5Y-4.71%

3Y-7.93%

TTM3.57%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-18188.89%

EPS CAGR

10Y-

5Y-

3Y-

TTM870.93%

ROCE

10Y Avg4.85%

5Y Avg5.85%

3Y Avg6.13%

Latest-2.99%

Peer Comparison

Tissue & Consumer Paper Products

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CLWClearwater Paper Corporation	329.43M	20.54	1.76	21.8%	-10.58%	-21.02%		0.38
ITPIT Tech Packaging, Inc.	3.9M	0.23	-0.23	-12.37%	-13.87%	-7.2%	100%	0.06

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.75B	1.73B	1.73B	1.72B	1.76B	1.87B	1.77B	2.08B	1.14B	1.38B
Revenue Growth %	-0.11%	-0.01%	-0%	-0%	0.02%	0.06%	-0.05%	0.17%	-0.45%	0.22%
Cost of Goods Sold+	1.51B	1.49B	1.52B	1.54B	1.6B	1.57B	1.59B	1.82B	935.3M	1.31B
COGS % of Revenue	0.86%	0.86%	0.88%	0.89%	0.91%	0.84%	0.9%	0.88%	0.82%	0.94%
Gross Profit+	239.55M	241.2M	209.2M	187.5M	164.5M	294.2M	182.6M	256.7M	200.7M	76.1M
Gross Margin %	0.14%	0.14%	0.12%	0.11%	0.09%	0.16%	0.1%	0.12%	0.18%	0.06%
Gross Profit Growth %	-0.07%	0.01%	-0.13%	-0.1%	-0.12%	0.79%	-0.38%	0.41%	-0.22%	-0.62%
Operating Expenses+	115.88M	128.19M	119M	106.3M	119.1M	136.1M	170.6M	134.7M	23.6M	117.1M
OpEx % of Revenue	0.07%	0.07%	0.07%	0.06%	0.07%	0.07%	0.1%	0.06%	0.02%	0.08%
Selling, General & Admin	115.88M	128.19M	118.4M	105.5M	0	124.9M	114M	110.9M	120.3M	116.3M
SG&A % of Revenue	0.07%	0.07%	0.07%	0.06%	-	0.07%	0.06%	0.05%	0.11%	0.08%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	600K	800K	119.1M	11.2M	56.6M	23.8M	-96.7M	800K
Operating Income+	123.67M	114.76M	71.2M	-97.9M	45.4M	158.1M	12M	122M	177.1M	-41M
Operating Margin %	0.07%	0.07%	0.04%	-0.06%	0.03%	0.08%	0.01%	0.06%	0.16%	-0.03%
Operating Income Growth %	0.55%	-0.07%	-0.38%	-2.38%	1.46%	2.48%	-0.92%	9.17%	0.45%	-1.23%
EBITDA+	208.4M	205.85M	176.2M	4M	161M	269.1M	117M	225.3M	217.8M	28.8M
EBITDA Margin %	0.12%	0.12%	0.1%	0%	0.09%	0.14%	0.07%	0.11%	0.19%	0.02%
EBITDA Growth %	0.23%	-0.01%	-0.14%	-0.98%	39.25%	0.67%	-0.57%	0.93%	-0.03%	-0.87%
D&A (Non-Cash Add-back)	84.73M	91.09M	105M	101.9M	115.6M	111M	105M	103.3M	40.7M	69.8M
EBIT	123.67M	111.32M	72.3M	-103M	42.6M	142.6M	-500K	108.7M	77.1M	-70.7M
Net Interest Income+	-31.18M	-30.3M	-31.37M	-30.82M	-44.9M	-46.5M	-36.4M	-34.6M	-9.5M	-29.2M
Interest Income	0	0	0	0	0	0	600K	1M	2.4M	2.9M
Interest Expense	31.18M	30.3M	31.37M	30.82M	44.9M	46.5M	37M	35.6M	11.9M	32.1M
Other Income/Expense	-31.18M	-34.1M	-30.3M	-35.6M	-53.3M	-59.9M	-47.7M	-48.9M	-111.5M	-60.1M
Pretax Income+	92.49M	80.67M	40.95M	-133.46M	-7.9M	98.2M	-35.7M	73.1M	65.6M	-101.1M
Pretax Margin %	0.05%	0.05%	0.02%	-0.08%	-0%	0.05%	-0.02%	0.04%	0.06%	-0.07%
Income Tax+	36.51M	31.11M	-56.38M	10.3M	-2.3M	21.1M	-7.7M	27M	16.9M	-27.1M
Effective Tax Rate %	0.61%	0.61%	2.38%	1.08%	0.71%	0.79%	0.79%	0.63%	1.64%	1.1%
Net Income+	55.98M	49.55M	97.34M	-143.77M	-5.6M	77.1M	-28.1M	46M	107.7M	-110.9M
Net Margin %	0.03%	0.03%	0.06%	-0.08%	-0%	0.04%	-0.02%	0.02%	0.09%	-0.08%
Net Income Growth %	25.18%	-0.11%	0.96%	-2.48%	0.96%	14.77%	-1.36%	2.64%	1.34%	-2.03%
Net Income (Continuing)	55.98M	49.55M	97.34M	-143.77M	-5.6M	77.1M	-28M	46.1M	48.7M	-74M
Discontinued Operations	0	0	0	0	0	0	0	0	59M	-36.9M
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	2.97	2.90	5.88	-8.72	-0.34	4.61	-1.67	2.68	6.30	11.70
EPS Growth %	25.75%	-0.02%	1.03%	-2.48%	0.96%	14.56%	-1.36%	2.6%	1.35%	0.86%
EPS (Basic)	2.98	2.91	5.91	-8.72	-0.34	4.65	-1.67	2.71	6.39	11.70
Diluted Shares Outstanding	18.82M	17.11M	16.56M	16.49M	16.53M	16.72M	16.77M	17.18M	17.09M	16.78M
Basic Shares Outstanding	18.76M	17M	16.46M	16.49M	16.47M	16.57M	16.77M	16.98M	16.86M	16.78M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	426.94M	446.5M	452.79M	443.95M	465.8M	474.9M	487.2M	586.3M	564.1M	545.4M
Cash & Short-Term Investments	8.13M	23M	15.74M	22.48M	21.4M	35.9M	25.2M	54.4M	42M	79.6M
Cash Only	7.88M	23M	15.74M	22.48M	21.4M	35.9M	25.2M	54.4M	42M	79.6M
Short-Term Investments	250K	0	0	0	0	0	0	0	0	0
Accounts Receivable	153.9M	156.78M	162.35M	151.82M	159.4M	160.6M	167.4M	188.8M	96.1M	188.7M
Days Sales Outstanding	32.06	32.99	34.24	32.14	33.03	31.37	34.47	33.13	30.88	49.78
Inventory	255.57M	258.03M	266.04M	266.24M	281.4M	263.3M	277.7M	324M	161.2M	257.9M
Days Inventory Outstanding	61.66	63.06	63.83	63.24	64.31	61.04	63.75	64.86	62.91	72
Other Current Assets	9.33M	8.68M	8.66M	3.4M	3.6M	15.1M	16.9M	19.1M	264.8M	19.2M
Total Non-Current Assets+	1.1B	1.24B	1.35B	1.34B	1.41B	1.33B	1.2B	1.12B	1.11B	1.13B
Property, Plant & Equipment	866.54M	945.33M	1.05B	1.27B	1.33B	1.25B	1.14B	1.06B	392.4M	1.06B
Fixed Asset Turnover	2.02x	1.84x	1.65x	1.36x	1.32x	1.49x	1.56x	1.96x	2.90x	1.30x
Goodwill	209.09M	244.28M	244.16M	35.07M	35.1M	35.1M	35.1M	35.1M	35.1M	48.6M
Intangible Assets	19.99M	40.48M	32.54M	24.08M	16.9M	13.7M	0	8.6M	6.4M	4.3M
Long-Term Investments	0	0	1M	2.46M	1M	1.1M	1.1M	0	0	0
Other Non-Current Assets	2.5M	7.75M	13.91M	7.09M	24.3M	18.5M	29.1M	12.5M	673M	17M
Total Assets+	1.53B	1.68B	1.8B	1.79B	1.88B	1.8B	1.69B	1.7B	1.67B	1.68B
Asset Turnover	1.15x	1.03x	0.96x	0.96x	0.94x	1.04x	1.05x	1.22x	0.68x	0.82x
Asset Growth %	-0.04%	0.1%	0.07%	-0.01%	0.05%	-0.04%	-0.06%	0.01%	-0.02%	0%
Total Current Liabilities+	227.93M	366.52M	419.25M	449.3M	280.4M	244.8M	254.1M	312M	285.9M	320.4M
Accounts Payable	128.04M	128.11M	169.29M	228.06M	149.6M	143.4M	168.3M	213M	89.1M	164.6M
Days Payables Outstanding	30.89	31.31	40.62	54.17	34.19	33.24	38.63	42.64	34.77	45.95
Short-Term Debt	0	135M	155M	120.83M	31.8M	17M	17.7M	12.9M	8.5M	11.7M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	48.33M	45.72M	45.35M	51.55M	46.6M	36.5M	33.1M	44.2M	154.3M	55.1M
Current Ratio	1.87x	1.22x	1.08x	0.99x	1.66x	1.94x	1.92x	1.88x	1.97x	1.70x
Quick Ratio	0.75x	0.51x	0.45x	0.40x	0.66x	0.86x	0.82x	0.84x	1.41x	0.90x
Cash Conversion Cycle	62.82	64.74	57.46	41.21	63.15	59.17	59.58	55.35	59.01	75.83
Total Non-Current Liabilities+	824.58M	847.95M	807.57M	912.43M	1.17B	1.03B	924.3M	819.5M	717.2M	504.4M
Long-Term Debt	568.99M	569.75M	570.52M	671.29M	863.9M	697.3M	620.1M	541.6M	439.9M	273.2M
Capital Lease Obligations	24.05M	23.15M	26.46M	27.42M	86.2M	73.4M	60.2M	59.2M	24.2M	36.7M
Deferred Tax Liabilities	118.12M	152.17M	118.53M	121.18M	121.3M	158.1M	0	0	0	0
Other Non-Current Liabilities	104.03M	93.86M	86.48M	88.02M	93.9M	105.7M	244M	218.7M	253.1M	194.5M
Total Liabilities	1.05B	1.21B	1.23B	1.36B	1.45B	1.28B	1.18B	1.13B	1B	824.8M
Total Debt+	593.04M	727.91M	751.98M	819.54M	981.9M	787.7M	698M	613.7M	472.6M	321.6M
Net Debt	585.16M	704.91M	736.25M	797.06M	960.5M	751.8M	672.8M	559.3M	430.6M	242M
Debt / Equity	1.25x	1.55x	1.31x	1.92x	2.27x	1.51x	1.36x	1.07x	0.71x	0.38x
Debt / EBITDA	2.85x	3.54x	4.27x	204.89x	6.10x	2.93x	5.97x	2.72x	2.17x	11.17x
Net Debt / EBITDA	2.81x	3.42x	4.18x	199.27x	5.97x	2.79x	5.75x	2.48x	1.98x	8.40x
Interest Coverage	3.97x	3.79x	2.27x	-3.18x	1.01x	3.40x	0.32x	3.43x	14.88x	-1.28x
Total Equity+	474.87M	469.87M	575.43M	426.4M	432M	521.1M	511.7M	572M	668.7M	854.5M
Equity Growth %	-0.05%	-0.01%	0.22%	-0.26%	0.01%	0.21%	-0.02%	0.12%	0.17%	0.28%
Book Value per Share	25.23	27.47	34.76	25.86	26.13	31.16	30.52	33.29	39.13	50.92
Total Shareholders' Equity	474.87M	469.87M	575.43M	426.4M	432M	521.1M	511.7M	572M	668.7M	854.5M
Common Stock	530.41M	521.63M	2K	2K	0	0	0	0	0	0
Retained Earnings	520.31M	569.86M	618.25M	487.34M	481.7M	558.8M	530.7M	576.8M	684.5M	880.7M
Treasury Stock	-329.99M	-395.32M	0	0	0	0	0	0	0	-3.3M
Accumulated OCI	-55.55M	-51.75M	-43.98M	-67.35M	-59.5M	-54.3M	-42.6M	-33.3M	-30.7M	-34.5K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	159.68M	172.75M	177.67M	168.9M	55.6M	247M	96.4M	150.2M	190.7M	61.4M
Operating CF Margin %	0.09%	0.1%	0.1%	0.1%	0.03%	0.13%	0.05%	0.07%	0.17%	0.04%
Operating CF Growth %	0.15%	0.08%	0.03%	-0.05%	-0.67%	3.44%	-0.61%	0.56%	0.27%	-0.68%
Net Income	55.98M	49.55M	97.34M	-143.77M	-5.6M	77.1M	-28.1M	46M	107.7M	196.3M
Depreciation & Amortization	84.73M	91.09M	104.99M	101.95M	115.6M	111M	105M	103.3M	98.6M	69.8M
Stock-Based Compensation	4.56M	12.38M	3.62M	3.31M	3.8M	10.5M	9.1M	12.7M	9.9M	5.6M
Deferred Taxes	15.06M	19.09M	-40.59M	7.08M	-300K	33.5M	-9.7M	-7.9M	-14.9M	39M
Other Non-Cash Items	-1.9M	-1.04M	1.12M	170.13M	10.6M	13.9M	45.4M	12.5M	4.5M	-267.9M
Working Capital Changes	1.25M	1.68M	11.19M	28.63M	-68.5M	1M	-25.3M	-16.4M	-15.1M	18.6M
Change in Receivables	-13.6M	5.14M	-10.57M	13.98M	-13.6M	6.1M	-5.3M	-16.9M	-1.3M	-58.1M
Change in Inventory	0	0	-14.8M	0	-21.2M	18.1M	-20.2M	-46.3M	4M	12.4M
Change in Payables	0	0	0	0	-28.5M	-16.5M	1.9M	49.2M	-21.3K	70.2M
Cash from Investing+	-78.55M	-222.51M	-198.8M	-223.97M	-140.1M	-39.6M	-25.1M	-33.5M	-73.7M	167.7M
Capital Expenditures	-128.9M	-155.35M	-199.75M	-295.71M	-140.1M	-39.6M	-38.4M	-33.5M	-73.7M	-116.6M
CapEx % of Revenue	0.07%	0.09%	0.12%	0.17%	0.08%	0.02%	0.02%	0.02%	0.06%	0.08%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	50.35M	286K	951K	807K	0	0	0	0	0	0
Cash from Financing+	-102.85M	67.15M	13.86M	65.42M	82M	-192.9M	-82M	-88.6M	-129.4M	-191.4M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-2.86M	-2.53M	18.7M	-413K	-400K	100K	700K	-2.7M	-3.2M	-3.7M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	30.77M	17.4M	-22.08M	-126.81M	-84.5M	207.4M	58M	116.7M	117M	-55.2M
FCF Margin %	0.02%	0.01%	-0.01%	-0.07%	-0.05%	0.11%	0.03%	0.06%	0.1%	-0.04%
FCF Growth %	-0.33%	-0.43%	-2.27%	-4.74%	0.33%	3.45%	-0.72%	1.01%	0%	-1.47%
FCF per Share	1.64	1.02	-1.33	-7.69	-5.11	12.40	3.46	6.79	6.85	-3.29
FCF Conversion (FCF/Net Income)	2.85x	3.49x	1.83x	-1.17x	-9.93x	3.20x	-3.43x	3.27x	1.77x	-0.55x
Interest Paid	28.2M	26.69M	28.1M	26.1M	38.4M	0	0	33M	37.8M	52.4M
Taxes Paid	35.85M	17.66M	2.7M	3.74M	3.1M	0	0	43M	16.6M	19M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	11.51%	10.49%	18.62%	-28.7%	-1.3%	16.18%	-5.44%	8.49%	17.36%	-14.56%
Return on Invested Capital (ROIC)	8.72%	7.7%	4.3%	-5.79%	2.6%	8.9%	0.73%	7.9%	11.91%	-2.8%
Gross Margin	13.67%	13.9%	12.09%	10.87%	9.34%	15.74%	10.3%	12.34%	17.67%	5.5%
Net Margin	3.19%	2.86%	5.63%	-8.34%	-0.32%	4.13%	-1.59%	2.21%	9.48%	-8.02%
Debt / Equity	1.25x	1.55x	1.31x	1.92x	2.27x	1.51x	1.36x	1.07x	0.71x	0.38x
Interest Coverage	3.97x	3.79x	2.27x	-3.18x	1.01x	3.40x	0.32x	3.43x	14.88x	-1.28x
FCF Conversion	2.85x	3.49x	1.83x	-1.17x	-9.93x	3.20x	-3.43x	3.27x	1.77x	-0.55x
Revenue Growth	-10.92%	-1.01%	-0.25%	-0.36%	2.16%	6.08%	-5.14%	17.35%	-45.39%	21.8%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Foodservice	-	-	-	-	-	-	-	-	-	540.4M
Foodservice Growth	-	-	-	-	-	-	-	-	-	-
Other	-	-	-	3.68M	11M	23.4M	16.6M	29.9M	16.6M	102.9M
Other Growth	-	-	-	-	198.99%	112.73%	-29.06%	80.12%	-44.48%	519.88%
Paperboard	-	-	-	837.89M	848.4M	828.3M	894.9M	1.1B	1.03B	-
Paperboard Growth	-	-	-	-	1.25%	-2.37%	8.04%	23.46%	-6.44%	-
Retail tissue member	-	-	-	-	845.6M	975.8M	797.9M	932.3M	1.02B	-
Retail tissue member Growth	-	-	-	-	-	15.40%	-18.23%	16.84%	9.00%	-
Pulp And Paperboard	792.51M	747.78M	-	-	-	-	34.8M	19.5M	20.8M	-
Pulp And Paperboard Growth	-	-5.64%	-	-	-	-	-	-43.97%	6.67%	-
Non-retail tissue	-	-	-	88.21M	56.5M	41.1M	36.7M	-	-	-
Non-retail tissue Growth	-	-	-	-	-35.95%	-27.26%	-10.71%	-	-	-
Retail tissue	-	-	-	794.43M	-	-	-	-	-	-
Retail tissue Growth	-	-	-	-	-	-	-	-	-	-
Consumer Products	-	1.22B	941.91M	-	-	-	-	-	-	-
Consumer Products Growth	-	-	-22.90%	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	1.65B	1.66B	1.65B	1.65B	1.69B	1.77B	1.67B	1.98B	1.98B	1.25B
UNITED STATES Growth	-	0.61%	-0.79%	-0.09%	2.28%	4.74%	-5.44%	18.72%	-0.38%	-36.59%
Non-US	-	-	-	75.61M	75.3M	102.4M	102.4M	97.3M	107.6M	131.2M
Non-US Growth	-	-	-	-	-0.41%	35.99%	0.00%	-4.98%	10.59%	21.93%
JAPAN	59.46M	44.97M	48.6M	-	-	-	-	-	-	-
JAPAN Growth	-	-24.37%	8.08%	-	-	-	-	-	-	-
CANADA	6.9M	6.83M	12.11M	-	-	-	-	-	-	-
CANADA Growth	-	-0.94%	77.22%	-	-	-	-	-	-	-
Other Countries	16.4M	9.68M	8.25M	-	-	-	-	-	-	-
Other Countries Growth	-	-40.96%	-14.75%	-	-	-	-	-	-	-
KOREA, REPUBLIC OF	10.02M	5.26M	7.12M	-	-	-	-	-	-	-
KOREA, REPUBLIC OF Growth	-	-47.48%	35.44%	-	-	-	-	-	-	-
AUSTRALIA	5.58M	4.79M	4.25M	-	-	-	-	-	-	-
AUSTRALIA Growth	-	-14.13%	-11.17%	-	-	-	-	-	-	-
CHINA	843K	-	-	-	-	-	-	-	-	-
CHINA Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Clearwater Paper Corporation (CLW) has a price-to-earnings (P/E) ratio of 1.8x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Clearwater Paper Corporation (CLW) reported $1.56B in revenue for fiscal year 2024. This represents a 19% decrease from $1.93B in 2011.

Clearwater Paper Corporation (CLW) grew revenue by 21.8% over the past year. This is strong growth.

Clearwater Paper Corporation (CLW) reported a net loss of $164.6M for fiscal year 2024.

Dividend & Returns

Clearwater Paper Corporation (CLW) has a return on equity (ROE) of -14.6%. Negative ROE indicates the company is unprofitable.

Clearwater Paper Corporation (CLW) had negative free cash flow of $134.7M in fiscal year 2024, likely due to heavy capital investments.

US Stock Screener

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Clearwater Paper Corporation (CLW) 10-Year Financial Performance & Capital Metrics

CLW • • Industrial / General

Basic MaterialsPaper & Forest ProductsPulp & Paper ManufacturingTissue & Consumer Paper Products

Revenue $1.38B +21.8%
EBITDA $29M -86.8%
Net Income -$111M -203.0%
EPS (Diluted) 11.70 +85.7%
Gross Margin 5.5% -68.9%
EBITDA Margin 2.08% -89.1%
Operating Margin -2.96% -119.0%
Net Margin -8.02% -184.5%
ROE -14.56% -183.9%
ROIC -2.8% -123.5%
Debt/Equity 0.38 -46.7%
Interest Coverage -1.28 -108.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Trading at only 0.4x book value

✗Weaknesses

✗Weak 3Y average ROE of 3.8%
✗Negative free cash flow
✗Thin 5Y average net margin of 1.2%
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-3.46%

5Y-4.71%

3Y-7.93%

TTM3.57%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-18188.89%

EPS CAGR

10Y-

5Y-

3Y-

TTM870.93%

ROCE

10Y Avg4.85%

5Y Avg5.85%

3Y Avg6.13%

Latest-2.99%

Peer Comparison

Tissue & Consumer Paper Products

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CLWClearwater Paper Corporation	329.43M	20.54	1.76	21.8%	-10.58%	-21.02%		0.38
ITPIT Tech Packaging, Inc.	3.9M	0.23	-0.23	-12.37%	-13.87%	-7.2%	100%	0.06

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.75B	1.73B	1.73B	1.72B	1.76B	1.87B	1.77B	2.08B	1.14B	1.38B
Revenue Growth %	-0.11%	-0.01%	-0%	-0%	0.02%	0.06%	-0.05%	0.17%	-0.45%	0.22%
Cost of Goods Sold+	1.51B	1.49B	1.52B	1.54B	1.6B	1.57B	1.59B	1.82B	935.3M	1.31B
COGS % of Revenue	0.86%	0.86%	0.88%	0.89%	0.91%	0.84%	0.9%	0.88%	0.82%	0.94%
Gross Profit+	239.55M	241.2M	209.2M	187.5M	164.5M	294.2M	182.6M	256.7M	200.7M	76.1M
Gross Margin %	0.14%	0.14%	0.12%	0.11%	0.09%	0.16%	0.1%	0.12%	0.18%	0.06%
Gross Profit Growth %	-0.07%	0.01%	-0.13%	-0.1%	-0.12%	0.79%	-0.38%	0.41%	-0.22%	-0.62%
Operating Expenses+	115.88M	128.19M	119M	106.3M	119.1M	136.1M	170.6M	134.7M	23.6M	117.1M
OpEx % of Revenue	0.07%	0.07%	0.07%	0.06%	0.07%	0.07%	0.1%	0.06%	0.02%	0.08%
Selling, General & Admin	115.88M	128.19M	118.4M	105.5M	0	124.9M	114M	110.9M	120.3M	116.3M
SG&A % of Revenue	0.07%	0.07%	0.07%	0.06%	-	0.07%	0.06%	0.05%	0.11%	0.08%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	600K	800K	119.1M	11.2M	56.6M	23.8M	-96.7M	800K
Operating Income+	123.67M	114.76M	71.2M	-97.9M	45.4M	158.1M	12M	122M	177.1M	-41M
Operating Margin %	0.07%	0.07%	0.04%	-0.06%	0.03%	0.08%	0.01%	0.06%	0.16%	-0.03%
Operating Income Growth %	0.55%	-0.07%	-0.38%	-2.38%	1.46%	2.48%	-0.92%	9.17%	0.45%	-1.23%
EBITDA+	208.4M	205.85M	176.2M	4M	161M	269.1M	117M	225.3M	217.8M	28.8M
EBITDA Margin %	0.12%	0.12%	0.1%	0%	0.09%	0.14%	0.07%	0.11%	0.19%	0.02%
EBITDA Growth %	0.23%	-0.01%	-0.14%	-0.98%	39.25%	0.67%	-0.57%	0.93%	-0.03%	-0.87%
D&A (Non-Cash Add-back)	84.73M	91.09M	105M	101.9M	115.6M	111M	105M	103.3M	40.7M	69.8M
EBIT	123.67M	111.32M	72.3M	-103M	42.6M	142.6M	-500K	108.7M	77.1M	-70.7M
Net Interest Income+	-31.18M	-30.3M	-31.37M	-30.82M	-44.9M	-46.5M	-36.4M	-34.6M	-9.5M	-29.2M
Interest Income	0	0	0	0	0	0	600K	1M	2.4M	2.9M
Interest Expense	31.18M	30.3M	31.37M	30.82M	44.9M	46.5M	37M	35.6M	11.9M	32.1M
Other Income/Expense	-31.18M	-34.1M	-30.3M	-35.6M	-53.3M	-59.9M	-47.7M	-48.9M	-111.5M	-60.1M
Pretax Income+	92.49M	80.67M	40.95M	-133.46M	-7.9M	98.2M	-35.7M	73.1M	65.6M	-101.1M
Pretax Margin %	0.05%	0.05%	0.02%	-0.08%	-0%	0.05%	-0.02%	0.04%	0.06%	-0.07%
Income Tax+	36.51M	31.11M	-56.38M	10.3M	-2.3M	21.1M	-7.7M	27M	16.9M	-27.1M
Effective Tax Rate %	0.61%	0.61%	2.38%	1.08%	0.71%	0.79%	0.79%	0.63%	1.64%	1.1%
Net Income+	55.98M	49.55M	97.34M	-143.77M	-5.6M	77.1M	-28.1M	46M	107.7M	-110.9M
Net Margin %	0.03%	0.03%	0.06%	-0.08%	-0%	0.04%	-0.02%	0.02%	0.09%	-0.08%
Net Income Growth %	25.18%	-0.11%	0.96%	-2.48%	0.96%	14.77%	-1.36%	2.64%	1.34%	-2.03%
Net Income (Continuing)	55.98M	49.55M	97.34M	-143.77M	-5.6M	77.1M	-28M	46.1M	48.7M	-74M
Discontinued Operations	0	0	0	0	0	0	0	0	59M	-36.9M
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	2.97	2.90	5.88	-8.72	-0.34	4.61	-1.67	2.68	6.30	11.70
EPS Growth %	25.75%	-0.02%	1.03%	-2.48%	0.96%	14.56%	-1.36%	2.6%	1.35%	0.86%
EPS (Basic)	2.98	2.91	5.91	-8.72	-0.34	4.65	-1.67	2.71	6.39	11.70
Diluted Shares Outstanding	18.82M	17.11M	16.56M	16.49M	16.53M	16.72M	16.77M	17.18M	17.09M	16.78M
Basic Shares Outstanding	18.76M	17M	16.46M	16.49M	16.47M	16.57M	16.77M	16.98M	16.86M	16.78M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	426.94M	446.5M	452.79M	443.95M	465.8M	474.9M	487.2M	586.3M	564.1M	545.4M
Cash & Short-Term Investments	8.13M	23M	15.74M	22.48M	21.4M	35.9M	25.2M	54.4M	42M	79.6M
Cash Only	7.88M	23M	15.74M	22.48M	21.4M	35.9M	25.2M	54.4M	42M	79.6M
Short-Term Investments	250K	0	0	0	0	0	0	0	0	0
Accounts Receivable	153.9M	156.78M	162.35M	151.82M	159.4M	160.6M	167.4M	188.8M	96.1M	188.7M
Days Sales Outstanding	32.06	32.99	34.24	32.14	33.03	31.37	34.47	33.13	30.88	49.78
Inventory	255.57M	258.03M	266.04M	266.24M	281.4M	263.3M	277.7M	324M	161.2M	257.9M
Days Inventory Outstanding	61.66	63.06	63.83	63.24	64.31	61.04	63.75	64.86	62.91	72
Other Current Assets	9.33M	8.68M	8.66M	3.4M	3.6M	15.1M	16.9M	19.1M	264.8M	19.2M
Total Non-Current Assets+	1.1B	1.24B	1.35B	1.34B	1.41B	1.33B	1.2B	1.12B	1.11B	1.13B
Property, Plant & Equipment	866.54M	945.33M	1.05B	1.27B	1.33B	1.25B	1.14B	1.06B	392.4M	1.06B
Fixed Asset Turnover	2.02x	1.84x	1.65x	1.36x	1.32x	1.49x	1.56x	1.96x	2.90x	1.30x
Goodwill	209.09M	244.28M	244.16M	35.07M	35.1M	35.1M	35.1M	35.1M	35.1M	48.6M
Intangible Assets	19.99M	40.48M	32.54M	24.08M	16.9M	13.7M	0	8.6M	6.4M	4.3M
Long-Term Investments	0	0	1M	2.46M	1M	1.1M	1.1M	0	0	0
Other Non-Current Assets	2.5M	7.75M	13.91M	7.09M	24.3M	18.5M	29.1M	12.5M	673M	17M
Total Assets+	1.53B	1.68B	1.8B	1.79B	1.88B	1.8B	1.69B	1.7B	1.67B	1.68B
Asset Turnover	1.15x	1.03x	0.96x	0.96x	0.94x	1.04x	1.05x	1.22x	0.68x	0.82x
Asset Growth %	-0.04%	0.1%	0.07%	-0.01%	0.05%	-0.04%	-0.06%	0.01%	-0.02%	0%
Total Current Liabilities+	227.93M	366.52M	419.25M	449.3M	280.4M	244.8M	254.1M	312M	285.9M	320.4M
Accounts Payable	128.04M	128.11M	169.29M	228.06M	149.6M	143.4M	168.3M	213M	89.1M	164.6M
Days Payables Outstanding	30.89	31.31	40.62	54.17	34.19	33.24	38.63	42.64	34.77	45.95
Short-Term Debt	0	135M	155M	120.83M	31.8M	17M	17.7M	12.9M	8.5M	11.7M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	48.33M	45.72M	45.35M	51.55M	46.6M	36.5M	33.1M	44.2M	154.3M	55.1M
Current Ratio	1.87x	1.22x	1.08x	0.99x	1.66x	1.94x	1.92x	1.88x	1.97x	1.70x
Quick Ratio	0.75x	0.51x	0.45x	0.40x	0.66x	0.86x	0.82x	0.84x	1.41x	0.90x
Cash Conversion Cycle	62.82	64.74	57.46	41.21	63.15	59.17	59.58	55.35	59.01	75.83
Total Non-Current Liabilities+	824.58M	847.95M	807.57M	912.43M	1.17B	1.03B	924.3M	819.5M	717.2M	504.4M
Long-Term Debt	568.99M	569.75M	570.52M	671.29M	863.9M	697.3M	620.1M	541.6M	439.9M	273.2M
Capital Lease Obligations	24.05M	23.15M	26.46M	27.42M	86.2M	73.4M	60.2M	59.2M	24.2M	36.7M
Deferred Tax Liabilities	118.12M	152.17M	118.53M	121.18M	121.3M	158.1M	0	0	0	0
Other Non-Current Liabilities	104.03M	93.86M	86.48M	88.02M	93.9M	105.7M	244M	218.7M	253.1M	194.5M
Total Liabilities	1.05B	1.21B	1.23B	1.36B	1.45B	1.28B	1.18B	1.13B	1B	824.8M
Total Debt+	593.04M	727.91M	751.98M	819.54M	981.9M	787.7M	698M	613.7M	472.6M	321.6M
Net Debt	585.16M	704.91M	736.25M	797.06M	960.5M	751.8M	672.8M	559.3M	430.6M	242M
Debt / Equity	1.25x	1.55x	1.31x	1.92x	2.27x	1.51x	1.36x	1.07x	0.71x	0.38x
Debt / EBITDA	2.85x	3.54x	4.27x	204.89x	6.10x	2.93x	5.97x	2.72x	2.17x	11.17x
Net Debt / EBITDA	2.81x	3.42x	4.18x	199.27x	5.97x	2.79x	5.75x	2.48x	1.98x	8.40x
Interest Coverage	3.97x	3.79x	2.27x	-3.18x	1.01x	3.40x	0.32x	3.43x	14.88x	-1.28x
Total Equity+	474.87M	469.87M	575.43M	426.4M	432M	521.1M	511.7M	572M	668.7M	854.5M
Equity Growth %	-0.05%	-0.01%	0.22%	-0.26%	0.01%	0.21%	-0.02%	0.12%	0.17%	0.28%
Book Value per Share	25.23	27.47	34.76	25.86	26.13	31.16	30.52	33.29	39.13	50.92
Total Shareholders' Equity	474.87M	469.87M	575.43M	426.4M	432M	521.1M	511.7M	572M	668.7M	854.5M
Common Stock	530.41M	521.63M	2K	2K	0	0	0	0	0	0
Retained Earnings	520.31M	569.86M	618.25M	487.34M	481.7M	558.8M	530.7M	576.8M	684.5M	880.7M
Treasury Stock	-329.99M	-395.32M	0	0	0	0	0	0	0	-3.3M
Accumulated OCI	-55.55M	-51.75M	-43.98M	-67.35M	-59.5M	-54.3M	-42.6M	-33.3M	-30.7M	-34.5K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	159.68M	172.75M	177.67M	168.9M	55.6M	247M	96.4M	150.2M	190.7M	61.4M
Operating CF Margin %	0.09%	0.1%	0.1%	0.1%	0.03%	0.13%	0.05%	0.07%	0.17%	0.04%
Operating CF Growth %	0.15%	0.08%	0.03%	-0.05%	-0.67%	3.44%	-0.61%	0.56%	0.27%	-0.68%
Net Income	55.98M	49.55M	97.34M	-143.77M	-5.6M	77.1M	-28.1M	46M	107.7M	196.3M
Depreciation & Amortization	84.73M	91.09M	104.99M	101.95M	115.6M	111M	105M	103.3M	98.6M	69.8M
Stock-Based Compensation	4.56M	12.38M	3.62M	3.31M	3.8M	10.5M	9.1M	12.7M	9.9M	5.6M
Deferred Taxes	15.06M	19.09M	-40.59M	7.08M	-300K	33.5M	-9.7M	-7.9M	-14.9M	39M
Other Non-Cash Items	-1.9M	-1.04M	1.12M	170.13M	10.6M	13.9M	45.4M	12.5M	4.5M	-267.9M
Working Capital Changes	1.25M	1.68M	11.19M	28.63M	-68.5M	1M	-25.3M	-16.4M	-15.1M	18.6M
Change in Receivables	-13.6M	5.14M	-10.57M	13.98M	-13.6M	6.1M	-5.3M	-16.9M	-1.3M	-58.1M
Change in Inventory	0	0	-14.8M	0	-21.2M	18.1M	-20.2M	-46.3M	4M	12.4M
Change in Payables	0	0	0	0	-28.5M	-16.5M	1.9M	49.2M	-21.3K	70.2M
Cash from Investing+	-78.55M	-222.51M	-198.8M	-223.97M	-140.1M	-39.6M	-25.1M	-33.5M	-73.7M	167.7M
Capital Expenditures	-128.9M	-155.35M	-199.75M	-295.71M	-140.1M	-39.6M	-38.4M	-33.5M	-73.7M	-116.6M
CapEx % of Revenue	0.07%	0.09%	0.12%	0.17%	0.08%	0.02%	0.02%	0.02%	0.06%	0.08%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	50.35M	286K	951K	807K	0	0	0	0	0	0
Cash from Financing+	-102.85M	67.15M	13.86M	65.42M	82M	-192.9M	-82M	-88.6M	-129.4M	-191.4M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-2.86M	-2.53M	18.7M	-413K	-400K	100K	700K	-2.7M	-3.2M	-3.7M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	30.77M	17.4M	-22.08M	-126.81M	-84.5M	207.4M	58M	116.7M	117M	-55.2M
FCF Margin %	0.02%	0.01%	-0.01%	-0.07%	-0.05%	0.11%	0.03%	0.06%	0.1%	-0.04%
FCF Growth %	-0.33%	-0.43%	-2.27%	-4.74%	0.33%	3.45%	-0.72%	1.01%	0%	-1.47%
FCF per Share	1.64	1.02	-1.33	-7.69	-5.11	12.40	3.46	6.79	6.85	-3.29
FCF Conversion (FCF/Net Income)	2.85x	3.49x	1.83x	-1.17x	-9.93x	3.20x	-3.43x	3.27x	1.77x	-0.55x
Interest Paid	28.2M	26.69M	28.1M	26.1M	38.4M	0	0	33M	37.8M	52.4M
Taxes Paid	35.85M	17.66M	2.7M	3.74M	3.1M	0	0	43M	16.6M	19M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	11.51%	10.49%	18.62%	-28.7%	-1.3%	16.18%	-5.44%	8.49%	17.36%	-14.56%
Return on Invested Capital (ROIC)	8.72%	7.7%	4.3%	-5.79%	2.6%	8.9%	0.73%	7.9%	11.91%	-2.8%
Gross Margin	13.67%	13.9%	12.09%	10.87%	9.34%	15.74%	10.3%	12.34%	17.67%	5.5%
Net Margin	3.19%	2.86%	5.63%	-8.34%	-0.32%	4.13%	-1.59%	2.21%	9.48%	-8.02%
Debt / Equity	1.25x	1.55x	1.31x	1.92x	2.27x	1.51x	1.36x	1.07x	0.71x	0.38x
Interest Coverage	3.97x	3.79x	2.27x	-3.18x	1.01x	3.40x	0.32x	3.43x	14.88x	-1.28x
FCF Conversion	2.85x	3.49x	1.83x	-1.17x	-9.93x	3.20x	-3.43x	3.27x	1.77x	-0.55x
Revenue Growth	-10.92%	-1.01%	-0.25%	-0.36%	2.16%	6.08%	-5.14%	17.35%	-45.39%	21.8%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Foodservice	-	-	-	-	-	-	-	-	-	540.4M
Foodservice Growth	-	-	-	-	-	-	-	-	-	-
Other	-	-	-	3.68M	11M	23.4M	16.6M	29.9M	16.6M	102.9M
Other Growth	-	-	-	-	198.99%	112.73%	-29.06%	80.12%	-44.48%	519.88%
Paperboard	-	-	-	837.89M	848.4M	828.3M	894.9M	1.1B	1.03B	-
Paperboard Growth	-	-	-	-	1.25%	-2.37%	8.04%	23.46%	-6.44%	-
Retail tissue member	-	-	-	-	845.6M	975.8M	797.9M	932.3M	1.02B	-
Retail tissue member Growth	-	-	-	-	-	15.40%	-18.23%	16.84%	9.00%	-
Pulp And Paperboard	792.51M	747.78M	-	-	-	-	34.8M	19.5M	20.8M	-
Pulp And Paperboard Growth	-	-5.64%	-	-	-	-	-	-43.97%	6.67%	-
Non-retail tissue	-	-	-	88.21M	56.5M	41.1M	36.7M	-	-	-
Non-retail tissue Growth	-	-	-	-	-35.95%	-27.26%	-10.71%	-	-	-
Retail tissue	-	-	-	794.43M	-	-	-	-	-	-
Retail tissue Growth	-	-	-	-	-	-	-	-	-	-
Consumer Products	-	1.22B	941.91M	-	-	-	-	-	-	-
Consumer Products Growth	-	-	-22.90%	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	1.65B	1.66B	1.65B	1.65B	1.69B	1.77B	1.67B	1.98B	1.98B	1.25B
UNITED STATES Growth	-	0.61%	-0.79%	-0.09%	2.28%	4.74%	-5.44%	18.72%	-0.38%	-36.59%
Non-US	-	-	-	75.61M	75.3M	102.4M	102.4M	97.3M	107.6M	131.2M
Non-US Growth	-	-	-	-	-0.41%	35.99%	0.00%	-4.98%	10.59%	21.93%
JAPAN	59.46M	44.97M	48.6M	-	-	-	-	-	-	-
JAPAN Growth	-	-24.37%	8.08%	-	-	-	-	-	-	-
CANADA	6.9M	6.83M	12.11M	-	-	-	-	-	-	-
CANADA Growth	-	-0.94%	77.22%	-	-	-	-	-	-	-
Other Countries	16.4M	9.68M	8.25M	-	-	-	-	-	-	-
Other Countries Growth	-	-40.96%	-14.75%	-	-	-	-	-	-	-
KOREA, REPUBLIC OF	10.02M	5.26M	7.12M	-	-	-	-	-	-	-
KOREA, REPUBLIC OF Growth	-	-47.48%	35.44%	-	-	-	-	-	-	-
AUSTRALIA	5.58M	4.79M	4.25M	-	-	-	-	-	-	-
AUSTRALIA Growth	-	-14.13%	-11.17%	-	-	-	-	-	-	-
CHINA	843K	-	-	-	-	-	-	-	-	-
CHINA Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Clearwater Paper Corporation (CLW) has a price-to-earnings (P/E) ratio of 1.8x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Clearwater Paper Corporation (CLW) reported $1.56B in revenue for fiscal year 2024. This represents a 19% decrease from $1.93B in 2011.

Clearwater Paper Corporation (CLW) grew revenue by 21.8% over the past year. This is strong growth.

Clearwater Paper Corporation (CLW) reported a net loss of $164.6M for fiscal year 2024.

Dividend & Returns

Clearwater Paper Corporation (CLW) has a return on equity (ROE) of -14.6%. Negative ROE indicates the company is unprofitable.

Clearwater Paper Corporation (CLW) had negative free cash flow of $134.7M in fiscal year 2024, likely due to heavy capital investments.