IP International Paper

materials · 2026-10-23

N/A

too hard · 20

Owner-earnings value—

Price$33.68

Margin of safety —

Quality gate · 20/100

Returns on capital 0/30

Consistency 7.5/22

Margins / pricing power 8.8/16

Balance sheet 0/16

Cash conversion 3.3/10

Capital allocation 0/6

⚠ sub-hurdle returns (median roic 5% < 9%) · over-levered (net debt/EBITDA 54.6x > 4x)

Median ROIC4.6%

Gross margin29.8%

Net debt / EBITDA54.6x

Share count / yr+14.7%

Profitable years3/4

Moat & management

Owner-earnings inputs

Owner earnings (TTM)	-2.79B
Owner-earnings yield	-15.6%
Free-cash-flow yield	2.8%
Growth used (normalized)	—
Terminal growth	—
Discount rate (hurdle)	—

⚠ maintenance capex ≈ min(capex, D&A), capped at FCF · non-positive owner earnings — cannot value as a going wonderful business

Date	Quality	Price	Value	MoS	Rating
2026-10-23	20	$33.68	—	—	N/A
2026-09-23	20	$35.71	—	—	N/A
2026-08-21	20	$40.36	—	—	N/A
2026-07-21	20	$36.25	—	—	N/A
2026-07-02	20	$38.34	—	—	N/A
2026-06-25	20	$38.30	—	—	N/A
2026-06-23	20	$36.56	—	—	N/A

Date

Quality

Price

Value

MoS

Rating

2026-10-23

$33.68

—

N/A

2026-09-23

$35.71

—

N/A

2026-08-21

$40.36

—

N/A

2026-07-21

$36.25

—

N/A

2026-07-02

$38.34

—

N/A

2026-06-25

$38.30

—

N/A

2026-06-23

$36.56

—

N/A

Quality gate · 20/100

Moat & management

Owner-earnings inputs

History