IP FINANCIAL STATEMENTS

International Paper — balance sheet, income statement and cash flow trends

IPInternational Paper

🇺🇸 USA · US · Consumer Cyclical · Packaging & Containers

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue25 B $+25.5%

Gross Profit6.9 B $+22.1%

Operating Income-2.6 B $-931.5%

EBITDA-41 M $-102.1%

Net Income-3.4 B $-946.2%

Peer Comparison· Packaging & Containers

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
IP	25.5%	27.8%	-0.2%	-13.4%
AMC	65.5%	18.5%	12.9%	3.1%
CCL-B	4.3%	29.9%	21.2%	10.4%
WPK	-1.5%	30.0%	21.0%	11.9%
ORA	-39.0%	25.3%	18.7%	5.7%
LILAK	-12.8%	30.4%	22.1%	11.3%
Industry median	6.7%	20.3%	13.8%	3.9%

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
IP	25.5%	27.8%	-0.2%	-13.4%
AMCR	68.3%	18.8%	9.8%	3.4%
PKG	7.9%	20.5%	20.2%	8.0%
SW	22.9%	18.4%	13.4%	1.2%
BALL	13.3%	15.7%	15.6%	6.9%
AVY	2.9%	28.8%	15.7%	7.7%
Industry median	6.7%	20.3%	13.8%	3.9%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity14.8 B $41%
Current Liabilities7.1 B $19%
Long-term Liabilities14.6 B $40%

Key Figures

YoY change

Total Assets36.4 B $-11.5%

Total Liabilities21.6 B $-6.3%

Total Equity14.8 B $-18.2%

Cash & ST Investments1.2 B $+6.9%

Total Debt9.5 B $-5.5%

Net Debt8.3 B $-7.1%

Peer Comparison· Packaging & Containers

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
IP	1.21	64.4%	-202.61	40.6%
AMC	1.44	143.4%	5.28	31.0%
CCL-B	1.39	42.3%	0.84	54.0%
WPK	8.76	—	—	84.7%
ORA	1.54	33.6%	1.58	57.9%
LILAK	3.64	7.3%	-1.52	79.5%
Industry median	1.37	64.6%	2.41	46.6%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
IP	1.21	64.4%	-202.61	40.6%
AMCR	1.44	—	—	31.0%
PKG	3.07	95.2%	2.06	42.6%
SW	1.44	78.9%	3.34	40.0%
BALL	1.12	139.4%	3.33	28.3%
AVY	1.15	164.8%	2.50	25.6%
Industry median	1.37	64.6%	2.41	46.6%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow2.6 B $+161.0%

Capital Expenditures2 B $+104.4%

Free Cash Flow553 M $—

Dividends Paid-978 M $-234.7%

Peer Comparison· Packaging & Containers

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
IP	10.4%	2.2%	8.2%	-77.5%
AMC	7.5%	4.9%	3.4%	246.6%
CCL-B	16.7%	11.2%	5.5%	161.0%
WPK	16.1%	9.2%	6.9%	134.6%
ORA	18.8%	9.7%	9.2%	331.6%
LILAK	30.7%	18.2%	5.7%	270.6%
Industry median	8.0%	3.6%	3.9%	77.8%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
IP	10.4%	2.2%	8.2%	-77.5%
AMCR	6.1%	3.4%	3.5%	176.5%
PKG	16.8%	7.6%	9.2%	209.0%
SW	11.1%	3.4%	7.7%	904.8%
BALL	8.4%	4.4%	4.1%	122.7%
AVY	11.5%	9.7%	1.8%	149.9%
Industry median	8.0%	3.6%	3.9%	77.8%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 7, 26. This content is for informational purposes only and is not investment advice.