International Paper Co debt and dilution11

Borrowings, liquidity, share count and stock-based dilution.

Total debt

USD millions

$9,217M

Cash & equivalents

USD millions

$726M

Net debt

USD millions

$8,491M

Debt / equity

0.64×

Debt / assets

25.24%

Net debt / EBITDA

× · TTM

—

Debt / FCF

× · TTM

18.73×

Interest coverage

× · TTM

—

Current ratio

1.1×

Diluted shares

Million shares

529.5M shares

Basic shares

Million shares

529.5M shares

Share count growth

0.3%

Share repurchases

USD millions

$1M

Quarterly data

International Paper Co capital history. Each metric has its own unit. A dash means inputs are missing or the calculation is undefined.
Fiscal period	Ended	Total debtUSD millions	Cash & equivalentsUSD millions	Net debtUSD millions	Debt / equity×	Debt / assets%	Net debt / EBITDA×	Debt / FCF×	Interest coverage×	Current ratio×	Diluted sharesMillion shares	Basic sharesMillion shares	Share count growth%	Share repurchasesUSD millions
FY 2026 Q2	Jun 30, 2026	9,217	726	8,491	0.64×	25.24%	—	18.73×	—	1.1×	529.5	529.5	0.3%	1
FY 2026 Q1	Mar 31, 2026	9,093	1,236	7,857	0.61×	24.96%	—	16.44×	—	1.21×	531.8	528.8	20.84%	30
FY 2025 Q4	Dec 31, 2025	9,831	1,145	8,686	0.66×	25.9%	—	—	—	1.28×	527.96	527.96	51.93%	1
FY 2025 Q3	Sep 30, 2025	9,962	995	8,967	0.58×	24.56%	—	—	—	1.31×	528	528	51.99%	1
FY 2025 Q2	Jun 30, 2025	9,919	1,135	8,784	0.53×	23.41%	—	—	—	1.33×	532.6	527.9	52%	1
FY 2025 Q1	Mar 31, 2025	9,619	1,156	8,463	0.53×	23.37%	—	—	—	1.33×	437.6	437.6	26.22%	62
FY 2024 Q4	Dec 31, 2024	5,561	1,062	4,499	0.68×	24.39%	—	7.35×	—	1.51×	355.99	347.5	0.43%	1
FY 2024 Q3	Sep 30, 2024	5,566	1,159	4,407	0.65×	24.03%	—	6.9×	—	1.53×	353.4	347.4	0.4%	0
FY 2024 Q2	Jun 30, 2024	5,588	1,049	4,539	0.65×	24.23%	—	7.57×	—	1.59×	352.8	347.3	0.32%	0
FY 2024 Q1	Mar 31, 2024	5,591	1,070	4,521	0.68×	24.28%	—	6.72×	—	1.68×	348.5	346.7	-0.74%	22
FY 2023 Q4	Dec 31, 2023	5,593	1,113	4,480	0.67×	24.04%	—	8.08×	—	1.67×	349.4	346.01	-2.18%	0
FY 2023 Q3	Sep 30, 2023	5,669	1,149	4,520	0.64×	23.67%	—	6.01×	—	1.75×	348.1	346	-3.3%	0
FY 2023 Q2	Jun 30, 2023	5,820	746	5,074	0.69×	24.57%	—	6.46×	—	1.59×	346.5	346.2	-5.82%	41
FY 2023 Q1	Mar 31, 2023	5,838	636	5,202	0.7×	24.56%	—	6.92×	—	1.55×	353.3	349.3	-6.9%	177
FY 2022 Q4	Dec 31, 2022	5,579	804	4,775	0.66×	23.3%	—	4.49×	—	1.35×	356.02	353.71	-8.04%	191
FY 2022 Q3	Sep 30, 2022	5,382	511	4,871	0.57×	21.64%	—	6.91×	—	1.38×	360.4	357.8	-7.97%	270
FY 2022 Q2	Jun 30, 2022	5,568	826	4,742	0.62×	22.02%	—	5.06×	—	1.62×	370.7	367.6	-11.08%	395
FY 2022 Q1	Mar 31, 2022	5,665	1,031	4,634	0.64×	22.52%	—	3.7×	—	1.73×	379.2	375.2	-9.55%	428
FY 2021 Q4	Dec 31, 2021	5,579	1,295	4,284	0.61×	22.1%	—	3.6×	—	1.71×	383.79	384.65	-7.38%	414
FY 2021 Q3	Sep 30, 2021	8,474	2,122	6,352	0.88×	28.75%	—	3.73×	—	2.11×	392.6	388.8	-6.34%	212
FY 2021 Q2	Jun 30, 2021	7,189	706	6,483	0.86×	22.86%	—	3.04×	—	1.42×	419.02	413.42	-0.41%	58
FY 2021 Q1	Mar 31, 2021	7,985	—	—	1.03×	25.37%	—	3.37×	—	1.45×	416.91	414.8	0.05%	155
FY 2020 Q4	Dec 31, 2020	8,093	595	7,498	1.03×	25.52%	—	3.5×	—	1.36×	421.63	415.32	0.25%	0
FY 2020 Q3	Sep 30, 2020	8,704	678	8,026	1.23×	27.34%	—	3.99×	—	1.33×	416.7	415.11	0.13%	1
FY 2020 Q2	Jun 30, 2020	9,465	847	8,618	1.34×	29.11%	—	4.38×	—	0.79×	415.11	415.11	-0.76%	0
FY 2020 Q1	Mar 31, 2020	10,225	1,239	8,986	1.49×	30.78%	—	4.53×	—	0.77×	414.59	414.59	-1.97%	41
FY 2019 Q4	Dec 31, 2019	9,765	511	9,254	1.27×	29.17%	—	4.18×	—	0.77×	418.63	414.3	-2.47%	0
FY 2019 Q3	Sep 30, 2019	10,359	697	9,662	1.39×	30.6%	—	4.5×	—	1.49×	417.54	414.59	-3.63%	75
FY 2019 Q2	Jun 30, 2019	10,726	787	9,939	1.43×	31.23%	—	4.68×	—	1.46×	420.5	418.28	-4.14%	231
FY 2019 Q1	Mar 31, 2019	10,774	641	10,133	1.44×	31.52%	—	5.61×	—	1.43×	425.78	422.93	-3.14%	229
FY 2018 Q4	Dec 31, 2018	10,654	589	10,065	1.44×	31.73%	—	6.44×	—	1.49×	430.81	424.8	-2.6%	200
FY 2018 Q3	Sep 30, 2018	11,255	1,026	10,229	1.59×	33.3%	—	5.74×	—	1.59×	434.44	430.21	-1.33%	201
FY 2018 Q2	Jun 30, 2018	11,489	1,073	10,416	1.67×	34%	—	28.87×	—	1.57×	441.09	436.34	0.07%	300
FY 2018 Q1	Mar 31, 2018	11,346	1,141	10,205	1.56×	33.34%	—	28.94×	—	1.63×	441.62	436.66	0.34%	31
FY 2017 Q4	Dec 31, 2017	11,157	1,018	10,139	1.71×	32.91%	—	23.39×	—	1.62×	442.03	436.12	0.39%	1
FY 2017 Q3	Sep 30, 2017	12,331	998	11,333	2.5×	36.47%	—	122.09×	—	1.48×	440.77	436.02	0.41%	0
FY 2017 Q2	Jun 30, 2017	11,216	1,041	10,175	2.46×	33.11%	—	9.7×	—	1.45×	439.72	436.02	0.41%	0
FY 2017 Q1	Mar 31, 2017	11,277	998	10,279	2.45×	33.86%	—	10.46×	—	1.58×	439.3	435.18	0.32%	46
FY 2016 Q4	Dec 31, 2016	11,314	1,033	10,281	2.6×	33.93%	—	10.01×	—	1.71×	439.19	434.44	-0.52%	0
FY 2016 Q3	Sep 30, 2016	10,901	2,562	8,339	2.58×	33.44%	2.52×	9.37×	3.29×	2.29×	438.56	434.23	-0.94%	0
FY 2016 Q2	Jun 30, 2016	9,446	1,254	8,192	2.33×	30.09%	2.49×	5.9×	3.35×	1.68×	437.92	434.23	-2.1%	1
FY 2016 Q1	Mar 31, 2016	9,375	1,155	8,220	2.2×	30.2%	2.44×	8.64×	3.47×	1.66×	437.18	433.8	-2.47%	131
FY 2015 Q4	Dec 31, 2015	9,326	1,050	8,276	2.39×	30.49%	2.35×	8.53×	3.67×	1.65×	440.08	436.7	-1.81%	100
FY 2015 Q3	Sep 30, 2015	9,640	1,104	8,536	2.16×	30.14%	2.26×	7.24×	3.8×	1.34×	440.88	438.35	-2.4%	152
FY 2015 Q2	Jun 30, 2015	9,926	1,590	8,336	1.97×	35.23%	2.08×	6.97×	4.03×	1.51×	445.53	443.52	-2.08%	214
FY 2015 Q1	Mar 31, 2015	9,125	1,576	7,549	1.82×	32.63%	1.88×	4.97×	3.91×	1.6×	447.43	444.79	-4.64%	139
FY 2014 Q4	Dec 31, 2014	9,373	1,881	7,492	1.78×	32.68%	2.16×	5.48×	3.04×	1.62×	450.86	444.76	-5.8%	171
FY 2014 Q3	Sep 30, 2014	9,712	1,718	7,994	1.39×	33.03%	2.68×	6.19×	2.35×	1.67×	452.6	449.12	-5.94%	206
FY 2014 Q2	Jun 30, 2014	9,949	1,293	8,656	1.29×	32.3%	2.97×	7.08×	2.23×	1.62×	456.3	452.92	-4.93%	297
FY 2014 Q1	Mar 31, 2014	9,428	1,341	8,087	1.22×	30.72%	2.8×	5.52×	2.14×	1.74×	466.43	466.43	-1.34%	388
FY 2013 Q4	Dec 31, 2013	9,488	1,802	7,686	1.15×	30.09%	2.29×	5.18×	2.76×	1.76×	477.91	472.14	0.97%	442
FY 2013 Q3	Sep 30, 2013	9,683	1,946	7,737	1.28×	29.71%	2.02×	6.2×	3.29×	1.76×	481.53	477.46	2.48%	19
FY 2013 Q2	Jun 30, 2013	10,125	1,205	8,920	1.44×	31.11%	2.43×	5.94×	2.94×	1.63×	480.25	476.39	2.32%	0
FY 2013 Q1	Mar 31, 2013	10,222	934	9,288	1.43×	31.26%	2.67×	6.38×	2.71×	1.71×	477.68	472.75	1.7%	51
FY 2012 Q4	Dec 31, 2012	10,140	1,302	8,838	1.53×	31.54%	2.59×	6.4×	2.63×	1.78×	472.95	467.6	1.04%	0
FY 2012 Q3	Sep 30, 2012	10,461	1,275	9,186	1.42×	32.13%	2.7×	—	2.82×	1.8×	470.93	465.9	0.65%	0
FY 2012 Q2	Jun 30, 2012	11,316	1,228	10,088	1.6×	34.2%	2.98×	—	3.09×	1.78×	469.22	465.58	1.45%	0
FY 2012 Q1	Mar 31, 2012	11,643	1,288	10,355	1.55×	34.4%	3.04×	7.87×	3.33×	1.83×	469.65	464.83	0.91%	35
FY 2011 Q4	Dec 31, 2011	9,908	3,994	5,914	1.42×	36.71%	1.68×	6.54×	3.72×	2.21×	468.89	462.79	0.35%	0
FY 2011 Q3	Sep 30, 2011	8,445	2,722	5,723	1.1×	32.69%	1.61×	—	3.65×	2.09×	466.01	462.9	0.51%	0
FY 2011 Q2	Jun 30, 2011	8,485	2,399	6,086	1.06×	32.58%	1.62×	—	3.83×	1.95×	460.97	458.94	-0.23%	1
FY 2011 Q1	Mar 31, 2011	8,531	2,049	6,482	1.13×	33.33%	1.78×	—	3.54×	1.89×	464.51	460.65	0.33%	29
FY 2010 Q4	Dec 31, 2010	8,671	2,073	6,598	1.22×	34.18%	2.12×	10.13×	2.62×	1.78×	466.21	461.18	0.92%	0
FY 2010 Q3	Sep 30, 2010	8,740	1,429	7,311	1.32×	34.84%	—	—	—	1.73×	464.51	460.54	0.94%	0
FY 2010 Q2	Jun 30, 2010	8,931	1,871	7,060	1.5×	35.66%	—	—	—	1.86×	464.08	460.01	1.01%	0
FY 2010 Q1	Mar 31, 2010	8,955	1,749	7,206	1.48×	35.62%	—	—	—	1.85×	459.15	459.15	—	26
FY 2009 Q4	Dec 31, 2009	9,033	1,892	7,141	1.44×	35.36%	1.87×	2.19×	3.36×	1.88×	462.74	456.99	—	0
FY 2009 Q3	Sep 30, 2009	—	1,652	—	—	—	—	—	—	1.74×	459.05	456.26	—	0
FY 2009 Q2	Jun 30, 2009	—	1,654	—	—	—	—	—	—	1.91×	455.51	455.4	—	0

Sources and calculations

Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.

Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.

The SBC option subtracts reported share-based compensation from FCF as an economic-cost scenario. Missing SBC never becomes zero.

Debt uses reported borrowings, with overlapping concepts treated as alternatives. Cash excludes restricted cash and short-term investments. Dilution compares split-normalized weighted average basic shares year over year. Share buyback spending does not by itself measure shares retired.

Market prices: Yahoo Finance · IP, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.

Total debt: Reported borrowing balances. Uses an aggregate including current maturities, or current plus noncurrent debt. Adds separately disclosed short-term borrowings, with commercial paper as a fallback, unless the selected current/aggregate concept already includes them. Finance leases are included when part of the reported debt concept; undisclosed components are not estimated.
Cash & equivalents: Unrestricted reported cash and cash equivalents. Excludes short-term investments and restricted cash.
Net debt: Total debt − cash and equivalents. Negative means net cash.
Debt / equity: Total debt / equity including noncontrolling interests. Nonpositive equity yields unavailable.
Debt / assets: Total debt / total assets × 100.
Net debt / EBITDA: Period-end net debt / (TTM operating income + TTM depreciation and amortization). Negative net debt is retained.
Debt / FCF: Period-end reported debt / positive TTM free cash flow. Reflects the selected reported capex scope and SBC option.
Interest coverage: TTM operating income / positive TTM interest expense. IFRS finance costs can include more than interest.
Current ratio: Current assets / positive current liabilities.
Diluted shares: Reported weighted average diluted shares, normalized for subsequent recorded stock splits. Fourth-quarter counts use a day-weighted annual/nine-month reconstruction where possible.
Basic shares: Reported weighted average basic shares, normalized for subsequent recorded stock splits.
Share count growth: Year-over-year change in split-normalized weighted average basic shares × 100. A dilution proxy; negative means a lower share count.
Share repurchases: Reported cash payments for repurchase of common shares. This is spending, not a buyback yield.