Filing Flows › International Paper (IP) › Q4 2025
International Paper (IP) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 27, 2026
International Paper (IP) reported revenue of $6.0B for the fourth quarter 2025 (Q4 2025), +53% from a year earlier and -3% from the quarter before. Operating margin was -44.5%, net loss $2.4B (39.7% of revenue).
International Paper, Q4 2025: revenue $6.0B (+53% year over year), operating margin -44.5%, net loss $2.4B, operating cash flow $905M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $6.0B | -3% | +53% |
| Operating profit | −$2.7B | — | — |
| Net earnings | −$2.4B | — | — |
| Operating cash flow | $905M | +50% | +128% |
| Free cash flow | $255M | — | +86% |
What changed
Revenue was $6.0B in Q4 2025, up 53% year over year and down 3% from the previous quarter.
Operating costs exceeded revenue by $2.7B, an operating margin of -44.5%. Total costs grew 115% against revenue growth of 53%. The fastest-growing cost line was Other operating costs (+402%). The quarter ended with a net loss of $2.4B, wider than the previous quarter's $1.1B loss.
Operating cash flow was $0.91B (up 128% year over year). Non-cash charges added back $0.70B of depreciation and amortization. Working capital and other items added $2.6B. After capital expenditures ($0.65B), free cash flow as the company reports it was $0.26B.
Questions
What was International Paper's revenue in the fourth quarter 2025?
International Paper (IP) reported revenue of $6.0B for the fourth quarter 2025 (Q4 2025), +53% from a year earlier and -3% from the quarter before.
Was International Paper profitable in the fourth quarter 2025?
Operating loss was $2.7B (-44.5% of revenue) and net loss $2.4B.