Filing Flows › Comparisons › MERC vs RYAM
Mercer International vs Rayonier Advanced Materials: MERC and RYAM compared
Mercer International is the larger company: $441M of revenue in its latest quarter (Q3 2026) against $383M for Rayonier Advanced Materials (Q3 2026). Rayonier Advanced Materials is growing faster (+8% against -4% a year earlier). Mercer International is more profitable, with an operating margin of -8.8% against -51.3%.
Where the money goes: MERC and RYAM
Mercer International (MERC) · Q3 2026
Mercer International, Q3 2026: revenue $441M (-4% year over year), operating margin -8.8%, net loss $59.2M, operating cash flow −$20.0M. The chart follows the revenue to costs, profit and cash.
Rayonier Advanced Materials (RYAM) · Q3 2026
Rayonier Advanced Materials, Q3 2026: revenue $383M (+8% year over year), operating margin -51.3%, net loss $229M, operating cash flow $28.7M. The chart follows the revenue to costs, profit and cash.
| Mercer International (MERC) | Rayonier Advanced Materials (RYAM) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $441M | $383M |
| Revenue growth, Y/Y | -4% | +8% |
| Operating margin | -8.8% | -51.3% |
| Net earnings | −$59.2M | −$229M |
| Net margin | -13.4% | -59.8% |
| Operating cash flow | −$20.0M | $28.7M |
| Market value | — | $399M |
| Analysts’ mean target | — | $14.00 |
Where the revenue comes from
Mercer International
- Pulp: $281M (64%)
- Lumber: $68.0M (15%)
- Energyandchemicals: $34.2M (8%)
- Pallets: $21.9M (5%)
Questions
Which is bigger, Mercer International or Rayonier Advanced Materials?
Mercer International is the larger company: $441M of revenue in its latest quarter (Q3 2026) against $383M for Rayonier Advanced Materials (Q3 2026).
Is Mercer International or Rayonier Advanced Materials growing faster?
Rayonier Advanced Materials is growing faster (+8% against -4% a year earlier).
Which is more profitable, Mercer International or Rayonier Advanced Materials?
Mercer International is more profitable, with an operating margin of -8.8% against -51.3%.
More: Mercer International earnings · how Mercer International makes money · Rayonier Advanced Materials earnings · how Rayonier Advanced Materials makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 5, 2026; 10-Q filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.