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International Paper vs Mativ: revenue, profit, margins and growth compared

International Paper brought in $23.6B of revenue in fiscal 2025, Mativ $2B in fiscal 2025. Revenue changed by +49.3% at International Paper and +0.3% at Mativ on the year before, so International Paper grew faster. International Paper kept -14.9% of its revenue as net profit, Mativ -17.0%. Free cash flow was -$159M at International Paper and $93.8M at Mativ.

Side by side, latest fiscal year

IPMATV
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$23.6B$2B
Revenue growth+49.3%+0.3%
Net income-$3.5B-$337.4M
Net margin-14.9%-17.0%
Free cash flow-$159M$93.8M
Free cash flow margin-0.7%4.7%
Earnings per share (diluted)-$6.95-$6.19
Cash$1.1B$84.2M
Debt$9.8B$1B
Price to earningsn/an/a
Market value$18B$653.5M
Dividend yield5.44%3.38%
Rank by revenue in sector#5 of 99 · Basic materials#32 of 99 · Basic materials

Over the years

Revenue
IP FY2018: $23.3BIP FY2019: $18.3BIP FY2020: $17.6BIP FY2021: $19.4BIP FY2022: $21.2BIP FY2023: $16BIP FY2024: $15.8BIP FY2025: $23.6BMATV FY2018: $1BMATV FY2019: $1BMATV FY2020: $1.1BMATV FY2020: $930.7MMATV FY2022: $1.6BMATV FY2023: $2BMATV FY2024: $2BMATV FY2025: $2BFY18FY19FY20FY21FY22FY23FY24FY25
IP $23.6BMATV $2B
Net income
IP FY2018: $2BIP FY2019: $1.2BIP FY2020: $482MIP FY2021: $1.8BIP FY2022: $1.5BIP FY2023: $288MIP FY2024: $557MIP FY2025: -$3.5BMATV FY2018: $94.5MMATV FY2019: $85.8MMATV FY2020: $83.8MMATV FY2020: $88.9MMATV FY2022: -$6.6MMATV FY2023: -$309.5MMATV FY2024: -$48.7MMATV FY2025: -$337.4MFY18FY19FY20FY21FY22FY23FY24FY25
IP -$3.5BMATV -$337.4M
Net margin
IP FY2018: 8.6%IP FY2019: 6.7%IP FY2020: 2.7%IP FY2021: 9.0%IP FY2022: 7.1%IP FY2023: 1.8%IP FY2024: 3.5%IP FY2025: -14.9%MATV FY2018: 9.1%MATV FY2019: 8.4%MATV FY2020: 7.8%MATV FY2020: 9.6%MATV FY2022: -0.4%MATV FY2023: -15.3%MATV FY2024: -2.5%MATV FY2025: -17.0%FY18FY19FY20FY21FY22FY23FY24FY25
IP -14.9%MATV -17.0%
Revenue growth
IP FY2019: -21.4%IP FY2020: -4.1%IP FY2021: +10.2%IP FY2022: +9.3%IP FY2023: -24.2%IP FY2024: -1.2%IP FY2025: +49.3%MATV FY2019: -1.8%MATV FY2020: +5.0%MATV FY2020: -13.4%MATV FY2022: +75.9%MATV FY2023: +23.8%MATV FY2024: -2.2%MATV FY2025: +0.3%FY19FY20FY21FY22FY23FY24FY25
IP +49.3%MATV +0.3%
Free cash flow
IP FY2018: $1.7BIP FY2019: $2.5BIP FY2020: $2.4BIP FY2021: $1.6BIP FY2022: $1.2BIP FY2023: $692MIP FY2024: $757MIP FY2025: -$159MMATV FY2018: $112.1MMATV FY2019: $131.7MMATV FY2020: $131.5MMATV FY2020: $38.6MMATV FY2022: $156.6MMATV FY2023: $40.6MMATV FY2024: $39.8MMATV FY2025: $93.8MFY18FY19FY20FY21FY22FY23FY24FY25
IP -$159MMATV $93.8M

Fiscal years as each company reports them; the two may end in different months.

Questions about International Paper and Mativ

Which is bigger by revenue, International Paper or Mativ?

International Paper is bigger by revenue: $23.6B in fiscal 2025, against $2B for Mativ in fiscal 2025.

Which keeps more of its revenue as profit, International Paper or Mativ?

International Paper had a net margin of -14.9% in fiscal 2025; Mativ had -17.0% in fiscal 2025.

Which grew revenue faster, International Paper or Mativ?

In their latest fiscal years revenue changed by +49.3% at International Paper and +0.3% at Mativ.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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