Clearwater Paper CorpClearwater Paper Corp
Clearwater Paper Corp

Clearwater Paper Corp

CLW
Materials·Paper & Forest Products

Clearwater Paper Corp. engages in the manufacturing and selling of private label tissue, paperboard, and pulp-based products. It operates through the Consumer Products and Pulp and Paperboard segments. The Consumer Products segment manufactures and sells a complete line of at-home tissue products. The Pulp and Paperboard segment produces and markets solid bleached sulfate paperboard for the high-end segment of the packaging industry and offers custom sheeting, slitting, and cutting of paperboard. The company was founded on December 9, 2008 and is headquartered in Spokane, WA.

Washington; U.S.A
Market cap
No dataNo data
Revenue
$1.6B+12.4% YoY
Net income
$-18.6M−109.5% YoY
Free cash flow
$-76.5M−38.6% YoY

Market

Listed stock
Tokenized stocks
CLWPriceNYSE
Loading…Loading…1Y

Financial performance

Revenue
$1.6B+12.4% YoY
Operating income
$-42.1M+34.7% YoY
Net income
$-18.6M−109.5% YoY
Free cash flow
$-76.5M−38.6% YoY

Revenue, profit & cash trend

Revenue
Operating income
Net income
Free cash flow
Reference
Revenue: 2021 $1.8B, 2022 $2.1B, 2023 $2.1B, 2024 $1.4B, 2025 $1.6B. Operating income: 2021 $12M, 2022 $113.9M, 2023 $177.1M, 2024 $-64.5M, 2025 $-42.1M. Net income: 2021 $-28.1M, 2022 $46M, 2023 $107.7M, 2024 $196.3M, 2025 $-18.6M. Free cash flow: 2021 $58M, 2022 $116.7M, 2023 $117M, 2024 $-55.2M, 2025 $-76.5M. Reference line: Reference at $0.

Growth & profitability

Revenue growth
12.4%+4599 bps YoY
Gross margin
No dataNo data
Operating margin
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FCF margin
No dataNo data

Earnings power over time

Operating income
Net income
Free cash flow
Operating income: 2021-12-31 $12M, 2022-12-31 $113.9M, 2023-12-31 $177.1M, 2024-12-31 $-64.5M, 2025-12-31 $-42.1M. Net income: 2021-12-31 $-28.1M, 2022-12-31 $46M, 2023-12-31 $107.7M, 2024-12-31 $196.3M, 2025-12-31 $-18.6M. Free cash flow: 2021-12-31 $58M, 2022-12-31 $116.7M, 2023-12-31 $117M, 2024-12-31 $-55.2M, 2025-12-31 $-76.5M

Growth heatmap

2022202320242025CAGR
Revenue
+17.3%
+0.1%
-33.6%
+12.4%
-3.2%
Gross profit
+40.6%
+28.9%
-95.6%
+686.4%
-10.8%
Operating income
+849.2%
+55.5%
-136.4%
+34.7%
No data
Free cash flow
+101.2%
+0.3%
-147.2%
-38.6%
No data

Earnings quality

Operating cash flow
$12.3M−80.0% YoY
Net income
$-18.6M−109.5% YoY
Free cash flow
$-76.5M−38.6% YoY
Diluted EPS
No dataNo data

Cash conversion quality

Operating cash flow
Free cash flow
Net income = 100%
Operating cash flow: 2025-12-31 -66%, 2024-12-31 31%, 2023-12-31 177%, 2022-12-31 327%, 2021-12-31 -343%. Free cash flow: 2025-12-31 411%, 2024-12-31 -28%, 2023-12-31 109%, 2022-12-31 254%, 2021-12-31 -206%. Reference line: Net income = 100% at 100%.

Per-share economics

Diluted EPS
Latest
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FCF / share
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Diluted shares
Latest
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Financial flexibility

Cash & equivalents
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Total debt
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Net debt
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Current ratio
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Cash Coverage of Debt

Cash / Total debt
No data

Returns

Return on equity
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Return on assets
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Return on invested capital
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Asset turnover
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Return on capital

No data

Valuation

Price to earnings
No dataNo data
Price to sales
No dataNo data
EV / EBITDA
No dataNo data
Free cash flow yield
No dataNo data

Valuation vs its own 5Y history

Metric
Own five-year range
Current
Own 5Y median
Position in own range
Price to earnings
No data
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Price to sales
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EV / EBITDA
No data
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Free cash flow yield
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