Mercer International (FRA:AEZ) EBIT: €-372 Mil (TTM As of Mar. 2026)


FRA:AEZ Mercer International Inc FRA:AEZ
38 GF Score
Price €0.60
GF Value €5.05
Valuation Possible Value Trap
! 6 Warning Signs
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What is Mercer International EBIT?

Mercer International FRA:AEZ -4.86% 38 EBIT is €-372 Mil as of Mar. 2026. GuruFocus rates FRA:AEZ with a GF Score™ of 38/100 and a GF Value™ of €5.05 (Possible Value Trap). The stock has 6 warning signs investors should review.

Mercer International's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was €-27 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was €-372 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Mercer International's annualized ROC % for the quarter that ended in Mar. 2026 was -7.05%. Mercer International's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -8.18%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Mercer International's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -26.62%.


Mercer International  (FRA:AEZ) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Mercer International's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=-113.808 * ( 1 - 13.59% )/( (1380.985 + 1408.894)/ 2 )
=-98.3414928/1394.9395
=-7.05 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=1743.373 - 202.857 - ( 159.531 - max(0, 242.217 - 739.395+159.531))
=1380.985

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=1698.718 - 216.696 - ( 73.128 - max(0, 332.831 - 722.06+73.128))
=1408.894

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Mercer International's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-107.508/( ( (958.451 + max(327.719, 0)) + (929.79 + max(412.388, 0)) )/ 2 )
=-107.508/( ( 1286.17 + 1342.178 )/ 2 )
=-107.508/1314.174
=-8.18 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(231.009 + 306.928 + 17.685) - (202.857 + 14.035 + 11.011)
=327.719

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(284.646 + 316.611 + 47.675) - (216.696 + 10.379 + 9.469)
=412.388

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Mercer International's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=-371.615/1396.065
=-26.62 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Mercer International EBIT Related Terms


Mercer International EBIT Historical Data

* Premium members only.

The historical data trend for Mercer International's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Mercer International EBIT Chart

Mercer International Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 292.59 393.46 -166.51 21.23 -338.51

Mercer International Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.06 -51.61 -57.13 -236.00 -26.88

FRA:AEZ vs ITP, CLW: EBIT Comparison

For the Paper & Paper Products subindustry, Mercer International's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Mercer International EV-to-EBIT vs Forest Products Industry

For the Forest Products industry and Basic Materials sector, Mercer International's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Mercer International's EV-to-EBIT falls into.


FRA:AEZ
38GF Score
Mercer International Inc FRA:AEZ
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Mercer International EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €-372 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of €-372 Mil mean?
Mercer International (FRA:AEZ) has a EBIT of €-372 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Mercer International.
Is Mercer International's EBIT too high?
Mercer International's current EBIT is €-372 Mil. Overall, Mercer International has a GF Score™ of 38/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Mercer International's EBIT compare to ITP and CLW?
Mercer International's EBIT of €-372 Mil can be compared against companies in the Forest Products industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for a Forest Products company?
A good EBIT depends on the Forest Products industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Mercer International. Mercer International's current EBIT is €-372 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mercer International stock overvalued right now?
Based on GuruFocus' analysis, Mercer International (FRA:AEZ) is currently considered Possible Value Trap. The stock's GF Value™ is €5.05, compared to a current price of €0.60 — trading 88.2% below its estimated fair value. The current EBIT is €-372 Mil. Mercer International's overall GF Score™ is 38/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For Mercer International (FRA:AEZ), the current EBIT is €-372 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Mercer International (FRA:AEZ) Overvalued in 2026?

Based on GuruFocus' analysis, Mercer International stock appears to be undervalued. The current stock price of €0.60 is trading 88.2% below its estimated GF Value™ of €5.05. GuruFocus considers Mercer International to be Possible Value Trap.

Key valuation signals for FRA:AEZ:

  • EBIT: €-372 Mil
  • GF Value™: €5.05 vs. price of €0.60 (88.2% below fair value)
  • GF Score™: 38/100 with 6 warning signs

No single metric tells the full story. See the FRA:AEZ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Mercer International Business Description

Other Exchanges MERC:USAAEZ:Germany
Address 700 West Pender Street, Suite 1120, Vancouver, BC, CAN, V6C 1G8
Mercer International Inc is a forest products company with two reportable operating segments in pulp and solid wood. The pulp segment consists of the manufacture, sale, and distribution of pulp, electricity, and chemicals. The company has a geographical presence in the USA, Germany, China, and Other countries, where the maximum of revenue is generated from the China. The majority of the revenue is generated from the Pulp segment.
38GF Score

Get the complete analysis for FRA:AEZ

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€0.60
Price
€5.05
GF Value