Clearwater Paper Corp

Basic Materials
Paper
www.clearwaterpaper.com

Earnings Score
Moat Score
Safety Score

Market Cap $415.19M
PE 2
Debt $282.20M
Cash $44.00M
EV $653.39M
FCF -$127.10M

Earnings

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Sales & Net Margins

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Earnings	$172.80M
EBIT	-$99.40M
ROE	21%
ROA	-6%
FCF	-$127.10M
Equity	$836.60M
Growth Stability	-537%
PE	2.4
PEG	0.1
PB	0.5
P/FCF	-3.27
P/S	0.33
Price/Cash	0.11
Debt/Equity	0.34
Debt/FCF	-2.22
Net Margins	-2%
Gross Margins	6%
Op. Margins	-8%
Earnings CAGR	3%
Sales Growth YoY	-24%
Sales Growth QoQ	-2%
Sales CAGR	1%
FCF CAGR	9%
Equity CAGR	4%
Earnings Stability	0.01
Earnings Growth YoY	-137%
Earnings Growth QoQ	-103%

Earnings CAGR 5Y	24%
Sales CAGR 5Y	-2%
FCF CAGR 5Y	-10%
Equity CAGR 5Y	11%
Earnings CAGR 3Y	-14%
Sales CAGR 3Y	-14%
FCF CAGR 3Y	-1%
Equity CAGR 3Y	16%
Market Cap	$415.19M
Revenue	$1.27B
Assets	$1.63B
Total Debt	$282.20M
Cash	$44.00M
Shares Outstanding	16.38M
EV	653.39M
Earnings Score	6%
Moat Score	43%
Safety Score	35%
Final Score	28%
Working Capital	199.4M
Current Ratio	1.66
Gross Profit	$79.50M
Shares Growth 3y	1%
Equity Growth QoQ	-2%
Equity Growth YoY	22%

Assets & ROA

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Stockholders Equity & ROE

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Clearwater Paper Corp is engaged in the manufacturing and selling of private label tissue, paperboard, and pulp-based products. The company has two reportable segments namely the consumer products segment which manufactures and sells a complete line of at-home tissue products as well as AFH products. The pulp and paperboard segment manufactures and markets bleached paperboard for the high-end segment of the packaging industry as well as offers services that include custom sheeting, slitting and cutting of paperboard. It generates maximum revenue from Pulp and Paperboard segment. Geographically, it derives maximum revenue from the United States.

SEC Filings

Direct access to Clearwater Paper Corp (CLW) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2025
- 10-Q Mar 31
2024
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Clearwater Paper Corp compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Clearwater Paper Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 3%

Stability 1%

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Clearwater Paper Corp Discounted Cash Flow

Fully customizable DCF calculator online for Clearwater Paper Corp.

Years

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= -$2.4B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	-$127M	-$139M	-$151M	-$164M	-$179M	-$195M	-$213M	-$232M	-$253M	-$275M	-$300M	-$3B
DCF		-$126M	-$125M	-$124M	-$122M	-$121M	-$120M	-$119M	-$118M	-$117M	-$116M	-$1.2B
Value	-$2.4B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Net Margins	3%	3%	6%	-8%	-0%	4%	-2%	2%	5%	14%	-2%
ROA	-	7%	4%	-5%	2%	9%	1%	7%	11%	-4%	-6%
ROE	-	11%	17%	-34%	-1%	15%	-5%	8%	16%	23%	21%

Bad Net Margins (-1.67%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Debt over FCF	-	32.74	-32.86	-7.42	-10.99	3.5	11.13	4.89	4.01	-5.16	-2.22
Debt over Equity	1.2	1.21	1.26	2.21	2.15	1.39	1.26	1	0.7	0.33	0.34
Growth Stability	-	-	-	-213%	-537%	-	-	100%	100%	100%	-537%

Good Debt/FCF ratio (-2.22)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Good Debt/Equity ratio (0.34)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (-537%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	CAGR 5Y
Revenue YoY growth	-	-1%	-0%	-0%	2%	6%	-5%	17%	0%	-34%	-2%
Earnings YoY growth	-	-11%	96%	-248%	-96%	-1K%	-136%	-264%	134%	82%	24%
Equity YoY growth	-	-1%	22%	-26%	1%	21%	-2%	12%	17%	28%	11%
FCF YoY growth	-	-43%	-227%	474%	-33%	-345%	-72%	101%	0%	-147%	-10%