Saturday 17 October 2026
Export CLW’s income statement to Excel — free account
Clearwater Paper Corporation
CLW Basic Materials Paper & Paper Products
Clearwater Paper Corporation’s revenue for fiscal 2025 (year ended December 2025) was $1.6 billion, up 12.4% from fiscal 2024. In the quarter to June 2026, revenue fell 4.34%, EPS fell 882.4%, free cash flow grew 216.2% and total debt rose 9.72%, each against the same quarter a year earlier.
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
23.11 | 7.80 | 0.00 | 0.00 | 8.14 | 0.00 | 13.45 | 5.68 | 2.54 | 0.00 |
Piotroski F-Score |
6 | 6 | 2 | 5 | 8 | 3 | 6 | 7 | 6 | 6 |
P/S ratio |
0.65 | 0.44 | 0.23 | 0.20 | 0.33 | 0.35 | 0.30 | 0.38 | 0.36 | 0.18 |
Altman Z-Score |
2.34 | 1.96 | 1.34 | 1.64 | 2.21 | 1.99 | 1.90 | 1.97 | 1.96 | 2.11 |
P/FCF ratio |
65.02 | 0.00 | 0.00 | 0.00 | 3.02 | 10.60 | 5.36 | 5.20 | 0.00 | 0.00 |
Altman Z″-Score (non-manufacturers) |
2.28 | 2.00 | 0.83 | 1.96 | 2.87 | 2.43 | 3.08 | 3.44 | 3.42 | 4.01 |
Beneish M-Score |
(2.80) | (2.59) | (3.70) | (1.97) | (3.13) | (2.51) | (2.79) | (0.72) | (1.04) | (2.92) |
P/Operating CF |
33.41 | 28.68 | 8.41 | 4.92 | 8.82 | 19.21 | 35.96 | 9.27 | (14.18) | 56.27 |
P/B ratio |
2.41 | 1.32 | 0.94 | 0.82 | 1.20 | 1.20 | 1.09 | 0.91 | 0.58 | 0.34 |
Price to Tangible BV |
6.11 | 2.55 | 1.09 | 0.93 | 1.32 | 1.32 | 1.19 | 0.97 | 0.62 | 0.34 |
EV/Sales |
1.05 | 0.85 | 0.69 | 0.70 | 0.70 | 0.69 | 0.55 | 0.63 | 0.51 | 0.38 |
EV/EBITDA |
8.81 | 8.35 | 6.00 | 7.45 | 4.72 | 10.26 | 5.19 | 4.73 | 14.90 | 5.94 |
EV/Operating CF |
10.50 | 8.23 | 7.07 | 22.20 | 5.29 | 12.75 | 7.58 | 5.28 | 11.41 | 48.52 |
EV/FCF |
104.19 | (70.02) | (9.42) | (14.61) | 6.31 | 21.19 | 9.75 | 8.61 | (12.69) | (7.80) |
Quick Ratio |
0.49 | 0.42 | 0.39 | 0.64 | 0.80 | 0.76 | 0.78 | 0.48 | 0.84 | 1.05 |
Current Ratio |
1.22 | 1.08 | 0.99 | 1.66 | 1.94 | 1.92 | 1.88 | 1.97 | 1.70 | 2.43 |
Net Debt/EBITDA |
3.31 | 4.03 | 3.98 | 5.32 | 2.46 | 5.13 | 2.50 | 2.20 | 4.31 | 3.14 |
Debt/Assets |
41.84% | 40.26% | 45.58% | 48.06% | 39.89% | 37.82% | 33.21% | 26.36% | 16.81% | 21.79% |
Debt/Equity |
1.50 | 1.26 | 1.91 | 2.09 | 1.38 | 1.25 | 0.99 | 0.66 | 0.33 | 0.42 |
Asset Turnover |
1.08 | 0.99 | 0.96 | 0.96 | 1.02 | 1.02 | 0.70 | 0.67 | 0.83 | 0.95 |
Operating CF/Net income |
3.49 | 1.84 | (1.17) | (9.93) | 3.20 | (3.43) | 3.27 | 1.77 | 0.31 | (0.66) |
Capex/Depreciation |
(1.71) | (1.90) | (1.00) | (1.16) | (0.33) | (0.36) | (0.32) | (0.72) | (1.04) | (0.62) |
Interest Coverage |
3.74 | 2.27 | (3.19) | 1.01 | 3.40 | 0.33 | 8.87 | 8.22 | (2.21) | (2.51) |
| 10.49% | 18.62% | (28.71%) | (1.30%) | 16.18% | (5.44%) | 8.49% | 17.36% | 25.77% | (2.21%) | |
| 3.09% | 5.58% | (8.01%) | (0.31%) | 4.19% | (1.61%) | 2.71% | 6.38% | 11.72% | (1.14%) | |
ROIC |
6.23% | 3.46% | (5.02%) | 2.16% | 8.22% | 0.67% | 5.72% | 4.57% | (3.82%) | (2.31%) |
Return on Tangible Assets |
4.83% | 8.97% | (11.38%) | (0.39%) | 5.42% | (2.14%) | 3.56% | 16.86% | 15.73% | (1.42%) |
Average Days of Receivables |
32.99 | 34.24 | 32.13 | 33.03 | 31.37 | 34.47 | 57.67 | 30.88 | 49.78 | 45.83 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
7.39% | 7.00% | 6.25% | 6.40% | 6.53% | 6.37% | 9.21% | 10.51% | 8.43% | 6.48% |
Intangible Assets out of Total Assets |
0.17 | 0.15 | 0.03 | 0.03 | 0.03 | 0.00 | 0.00 | 0.02 | 0.03 | 0.00 |
Share Based Compensation of Revenue |
0.71% | 0.21% | 0.19% | 0.23% | 0.56% | 0.51% | 1.06% | 0.87% | 0.40% | 0.24% |
Graham Net Nets |
(0.68) | (1.02) | (2.28) | (2.77) | (1.29) | (1.12) | (0.87) | (0.72) | (0.56) | (0.84) |
Graham Number |
42.32 | 68.23 | 0.00 | 0.00 | 57.30 | 0.00 | 45.58 | 76.31 | 116.17 | 0.00 |
Earnings Yield |
4.33% | 12.81% | (35.78%) | (1.59%) | 12.29% | (4.58%) | 7.43% | 17.60% | 39.44% | (6.44%) |
Free Cash Flow Yield |
1.54% | (2.76%) | (31.56%) | (23.93%) | 33.16% | 9.43% | 18.65% | 19.22% | (11.09%) | (27.19%) |
Revenue per Share |
102.04 | 105.10 | 104.58 | 106.54 | 112.78 | 105.72 | 70.36 | 67.37 | 82.45 | 96.20 |
Operating CF per Share |
10.16 | 10.85 | 10.24 | 3.36 | 14.91 | 5.75 | 8.84 | 11.31 | 3.66 | 0.76 |
Capex per Share |
(9.14) | (12.13) | (17.94) | (8.47) | (2.39) | (2.29) | (1.97) | (4.37) | (6.95) | (5.49) |
Free Cash Flow per Share |
1.02 | (1.28) | (7.69) | (5.11) | 12.52 | 3.46 | 6.87 | 6.94 | (3.29) | (4.73) |
Cash per Share |
1.35 | 0.96 | 1.36 | 1.29 | 2.17 | 1.50 | 3.16 | 2.49 | 4.74 | 1.90 |
Shareholders Equity per Share |
27.64 | 34.95 | 25.86 | 26.13 | 31.45 | 30.52 | 33.68 | 39.66 | 50.93 | 51.04 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
27.64 | 34.95 | 25.86 | 26.13 | 31.45 | 30.52 | 33.68 | 39.66 | 50.93 | 51.04 |
Free Cash Flow |
17.40 | (21.00) | (126.80) | (84.50) | 207.40 | 58.00 | 116.70 | 117.00 | (55.20) | (76.50) |
Working Capital |
79.98 | 33.54 | (5.30) | 185.40 | 230.10 | 233.10 | 274.30 | 278.10 | 225.00 | 309.80 |
Capital Expenditures |
(155.35) | (199.70) | (295.70) | (140.10) | (39.60) | (38.40) | (33.50) | (73.70) | (116.60) | (88.80) |
Net Current Asset Value |
(767.97) | (774.03) | (917.80) | (979.90) | (804.40) | (691.10) | (545.20) | (438.90) | (279.30) | (237.00) |
EV/EBIT |
15.80 | 20.65 | 0.00 | 27.18 | 8.27 | 102.40 | 9.98 | 9.16 | 0.00 | 0.00 |
Capex to Sales |
0.09 | 0.12 | 0.17 | 0.08 | 0.02 | 0.02 | 0.03 | 0.06 | 0.08 | 0.06 |
Price to Operating Income |
9.86 | 10.68 | 0.00 | 7.78 | 3.95 | 51.24 | 5.49 | 5.53 | 0.00 | 0.00 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.10 | 0.10 | 0.23 | 0.10 | 0.10 | 0.10 | 0.10 | 0.29 | 0.11 | 0.14 |
Cash ROIC |
1.45% | (1.59%) | (10.03%) | (6.23%) | 16.27% | 4.93% | 9.79% | 10.16% | (4.54%) | (6.36%) |
Accounts Receivable Turnover |
11.17 | 10.84 | 10.98 | 11.32 | 11.68 | 10.81 | 6.71 | 7.97 | 9.72 | 8.10 |
Accounts Payable Turnover |
6.73 | 6.33 | 5.27 | 6.57 | 7.82 | 6.42 | 3.49 | 3.69 | 5.08 | 5.38 |
Inventory Turnover |
5.82 | 5.81 | 5.77 | 5.83 | 5.78 | 5.88 | 3.27 | 3.86 | 6.24 | 5.34 |
Average Days of Payables |
54.67 | 61.57 | 77.67 | 36.45 | 56.36 | 57.96 | 115.57 | 76.29 | 89.25 | 54.66 |
Days of Inventory on Hand |
63.06 | 63.83 | 63.23 | 64.32 | 61.04 | 63.75 | 120.37 | 62.91 | 72.02 | 71.41 |
Average Receivables |
155.34 | 159.57 | 157.07 | 155.60 | 160.00 | 164.00 | 178.10 | 142.45 | 142.40 | 192.00 |
Average Payables |
222.03 | 240.16 | 291.81 | 243.25 | 201.30 | 247.80 | 281.80 | 253.30 | 257.60 | 267.65 |
Average Inventory |
256.80 | 262.04 | 266.12 | 273.80 | 272.35 | 270.50 | 300.85 | 242.60 | 209.60 | 269.85 |
Average Assets |
1,605.86 | 1,743.30 | 1,795.18 | 1,832.90 | 1,839.05 | 1,745.25 | 1,696.80 | 1,687.65 | 1,675.50 | 1,633.75 |
Average Common Equity |
472.37 | 522.65 | 500.92 | 429.20 | 476.55 | 516.40 | 541.85 | 620.35 | 761.60 | 839.90 |
Columns are period end dates