Clearwater Paper Corporation (CLW) Stock Price & Analysis
Clearwater Paper Corporation (CLW) closed at USD 19.04 on Thursday, October 22, 2026, up 1.60% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 18.74; the Oct 22, 2026 session ranged USD 18.65–19.28 on volume of 147,627 shares. Market capitalization is $307.07M, with a 52-week range of USD 11.73–23.59 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 10:37 UTC.
Also available as compact Markdown for AI agents: nexqual.com/CLW.md
Key facts (CLW)
- Last four reported quarters (through Jun 30, 2026): revenue $1.52B, net income -$49.3M (-3.2% margin), free cash flow $56.6M (SEC filings).
- 1 of 80 tracked superinvestors hold CLW (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Analysts: Hold (mean 2.50 on a 1–5 scale) (4 analysts), mean target USD 22.25 (range 20–25).
- Total return with dividends: 1Y -4.6% vs S&P 500 +14.9%; 5Y -56.1% vs S&P 500 +80.3%.
- Next earnings: 2026-10-26, EPS estimate USD -0.16, revenue estimate $388M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (CLW)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.77B | $1.20B | $1.14B | $1.38B | $1.56B | $1.52B |
| Gross profit | $183M | $213M | $201M | $76.1M | $116M | — |
| Operating income | $12.0M | $99.3M | $78.1M | -$64.5M | -$42.1M | -$82.2M |
| Net income | -$28.1M | $46.0M | $108M | $196M | -$18.6M | -$49.3M |
| EPS (diluted) | -$1.67 | $2.68 | $6.30 | $11.70 | -$1.15 | — |
| Free cash flow | $58.0M | $117M | $117M | -$55.2M | -$76.5M | $56.6M |
| Gross margin | 10.3% | 17.8% | 17.7% | 5.5% | 7.4% | — |
| Operating margin | 0.7% | 8.3% | 6.9% | -4.7% | -2.7% | -5.4% |
| Net margin | -1.6% | 3.8% | 9.5% | 14.2% | -1.2% | -3.2% |
| Revenue growth | -5.1% | -32.6% | -4.9% | +21.8% | +12.4% | — |
| Cash + short-term investments | $25.2M | $53.7M | $42.0M | $79.6M | $30.7M | — |
| Total debt | $639M | $566M | $440M | $282M | $346M | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (CLW)
P/S 0.2x · EV/EBITDA 48.5x · EV/Sales 0.4x · P/FCF 5.4x · P/B 0.4x · FCF yield 18.43% · Earnings yield -16.05% · Buyback yield (TTM) 0.72% · Net debt $266M · EV $573M
P/E at fiscal year-ends: Dec 2024 2.5x, Dec 2023 5.7x.
Superinvestors (SEC 13F-HR, Q2 2026) (CLW)
1 of 80 tracked investors hold CLW. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Mason Hawkins | Southeastern Asset Management | 1.26% | $24.1M | Added +0.9% |
Analysts (CLW)
Consensus Hold (mean 2.50 on a 1–5 scale), 4 analysts; mean target USD 22.25 (low 20, high 25).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-16 | RBC Capital | Target raised | Outperform | $21 → $23 |
| 2026-09-11 | B of A Securities | Target raised | Neutral | $24 → $25 |
| 2026-07-15 | Truist Securities | Target raised | Hold | $12 → $17 |
| 2026-07-02 | B of A Securities | Initiated | Neutral | $19 |
Total return (dividends reinvested) (CLW)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | -4.6% | -56.1% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -4.6% | -15.2% |
| Volatility (annualized) | 52.3% | 48.1% |
| Max drawdown | -39.4% (Jan 2026→Mar 2026) | -77.8% (Jul 2024→Mar 2026) |
CLW revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Foodservice | $173.0M | 46.2% | +4.2% |
| Folding Carton | $132.5M | 35.4% | -10.2% |
| Sheeting and Distribution | $37.1M | 9.9% | -7.0% |
| Other | $32.2M | 8.6% | -15.7% |
| Total revenue | $374.8M | 100% | — |
CLW revenue by region (fiscal year ended Dec 31, 2025)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| United States | $1.42B | 91.2% | +13.2% |
| Non Us | $137.2M | 8.8% | +4.6% |
| Total revenue | $1.56B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
CLW suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Sofidel | “We are party to a Services and Use Rights Agreement with Sofidel, pursuant to which we provide certain supplies and services to Sofidel in connection with its operations at such shared facility.” |
Quoted from the company's 10-K filed Feb 18, 2026.
CLW analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $-0.16 | $-0.52 | -69.2% | $388.4M | 2 |
| Next quarter (ends Dec 2026) | $-0.64 | $-1.28 | -50.0% | $372.0M | 2 |
| Current fiscal year (ends Dec 2026) | $-3.72 | $-4.28 | -13.2% | $1.50B | 3 |
| Next fiscal year (ends Dec 2027) | $-1.17 | $-1.52 | -23.1% | $1.56B | 3 |
CLW options: expected move
Options price a move of about ±16.4% (±$3.13) by Nov 20, 2026, which includes earnings on Oct 26, 2026. Over the last 8 reports the stock moved ±14.2% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 69.3% | ±16.4% |
| Dec 18, 2026 | 56 | 60.5% | ±19.8% |
| Jan 15, 2027 | 84 | 57.9% | ±23.0% |
| Apr 16, 2027 | 175 | 59.8% | ±33.7% |
30-day implied volatility 68.2% vs 42.2% realized over the last 30 trading days. Put/call ratio (volume) 0. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 10:37 UTC)
| Price | USD 19.04 |
|---|---|
| Change | ▲ 1.60% (up) |
| Previous Close | USD 18.74 |
| Open | USD 18.58 |
| Day Range | USD 18.65 – 19.28 |
| 52-Week Range | USD 11.73 – 23.59 |
| Volume | 147,627 shares |
| Market Cap | $307.07M |
| Exchange | NYQ |
Technical Analysis (CLW)
Nexqual's technical model rates CLW "STRONG SELL" based on 0 bullish and 5 bearish signals across 127 daily candles, as of October 23, 2026 at 10:37 UTC.
| Overall Signal | STRONG SELL |
|---|---|
| RSI (14) | 45.23 (neutral) |
| vs SMA50 | Below (USD 20.33) |
| MACD | -0.41 (negative) |
Analyst Ratings (CLW)
Wall Street analysts rate CLW "Hold" based on 4 analysts, with a mean price target of USD 22.25 (range USD 20–25), per Nexqual as of October 23, 2026 at 10:37 UTC.
| Consensus Rating | Hold |
|---|---|
| Analyst Count | 4 |
| Mean Target | USD 22.25 |
| High Target | USD 25 |
| Low Target | USD 20 |
| Buy / Hold / Sell | 1 / 3 / 0 |
Earnings (CLW)
| Next Earnings Date | 2026-10-26 |
|---|---|
| EPS Estimate | USD -0.16 |
| Revenue Estimate | $388.39M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD -1.75 vs est -1.56 ▼ miss |
| 2026-03-31 | USD -1.29 vs est -1.34 ▲ beat |
| 2025-12-31 | USD -0.42 vs est -0.54 ▲ beat |
| 2025-09-30 | USD -0.57 vs est -0.53 ▼ miss |
Source: Nexqual, October 23, 2026 at 10:37 UTC.
Financials & Fundamentals (CLW)
| Total Revenue | $1.52B |
|---|---|
| Revenue Growth (latest quarter, YoY) | -4.30% |
| Gross Margin | +1.03% |
| Operating Margin | -10.35% |
| Profit Margin | -3.24% |
| ROE | -10.42% |
| Debt / Equity | 0.47 |
| Current Ratio | 2.29 |
| Total Cash | $95.40M |
| Total Debt | $373.10M |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | $56.60M (3.7% of revenue) |
Source: Nexqual, October 23, 2026 at 10:37 UTC.
Financial Health Score (CLW)
Nexqual rates Clearwater Paper Corporation's overall financial health "Weak" across five dimensions, as of October 23, 2026 at 10:37 UTC.
| Growth | Critical — Revenue -30% YoY (annual), sharp decline |
|---|---|
| Profitability | Critical — Gross margin 1%, operating -10% (last 12 months) |
| Balance Sheet | Strong — $95M cash and investments vs $361M debt (Jun 2026, SEC) |
| Cash Flow | Mixed — FCF $57M (last 4 quarters to Jun 2026, SEC), slim 3.7% margin |
| Efficiency | Critical — ROE -10%, ROA -2.7% |
Ownership (CLW)
| Insider Ownership | +3.62% |
|---|---|
| Institutional Ownership | +89.71% |
| Shares Outstanding | 16.13M |
| Float | 15.56M |
| Short % of Float | +3.97% |
Source: Nexqual, October 23, 2026 at 10:37 UTC.
Leadership (CLW)
Clearwater Paper Corporation is led by Arsen S. Kitch, CEO, President & Director, per Nexqual as of October 23, 2026 at 10:37 UTC.
| CEO, President & Director | Arsen S. Kitch |
|---|---|
| Senior VP of Finance & CFO | Sherri J. Baker |
| Senior Vice President of Supply Chain & Corporate Development | Matthew D. Passarello |
| Senior Vice President of Commercial | Steven M. Bowden |
| Vice President of Strategy & Corporate Finance | Cheri Ellison |
Major Backers & Investors (CLW)
Notable institutional backers of Clearwater Paper Corporation include Southeastern Asset Management Inc/TN/, Longleaf Partners Funds Trust-Longleaf Partners Small-Cap Fund, Gate City Capital Management, LLC, according to Nexqual as of October 23, 2026 at 10:37 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Southeastern Asset Management Inc/TN/ | 9.55% |
| Longleaf Partners Funds Trust-Longleaf Partners Small-Cap Fund | 9.53% |
| Gate City Capital Management, LLC | 5.82% |
| Readystate Asset Management LP | 4.84% |
| JPMorgan | 2.81% |
| AQR Capital Management, LLC | 2.61% |
| Invenomic Capital Management, LP | 2.61% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 7.83% |
| Dimensional Fund Advisors | 6.59% |
| Vanguard Group | 4.31% |
Source: Nexqual, October 23, 2026 at 10:37 UTC.
From Clearwater Paper Corporation's Latest SEC 10-K Filing (filed 2026-02-18)
Partnerships
- Financial Statements and Supplementary Data." In November 2024, the Board of Directors authorized an additional share repurchase program to allow us to purchase up to $100 million of our issued and outstanding shares of common stock through open market purchases, privately negotiated transactions and Rule 10b5-1 plans.
- Our relationship with this union remains good and we are negotiating a new agreement.
Legal & Regulatory Risks (Item 1A, quoted)
- We are subject to significant environmental regulation and environmental compliance expenditures, which could increase our costs and subject us to liabilities.
- We are exposed to lawsuits, governmental investigations and proceedings relating to current and historical operations and products, which could harm our business.
- Compliance with varying federal, state and foreign regulatory schemes and third-party certifications may impair our ability to continue to sell our products in key markets or to key customers and increase our costs.
- We could be subject to changes in tax rates, the adoption of new tax laws or interpretations, or exposure to additional tax liabilities.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| SLVM | Sylvamo Corporation | USD 32.44 | ▲ 3.61% |
| SUZ | Suzano S.A. | USD 8.53 | ▲ 0.95% |
| NTR | Nutrien Ltd. | USD 69.09 | ▲ 1.42% |
| GFI | Gold Fields Limited | USD 35.14 | ▼ 4.51% |
| VMC | Vulcan Materials Company (Holdi | USD 268.72 | ▲ 1.54% |
| STLD | Steel Dynamics, Inc. | USD 239.9 | ▼ 3.25% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 10:37 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt