International Paper (IP) Operating Expenses (2009 - 2026)
International Paper's Operating Expenses was $991 million in Q2 2026, up 6.9% from $927 million a year earlier and up 5.1% from the prior quarter.
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Analysis
International Paper (IP) Operating Expenses (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, International Paper's Operating Expenses was $5.08 billion through Jun 30, 2026, up 47.5% year-over-year; for FY2025, it was $5.18 billion, up 96.3% from FY2024.
- Operating Expenses has now increased for three consecutive years, with a five-year compound annual growth rate of 14.3% (FY2020 to FY2025).
- In earlier years, Operating Expenses was $2.64 billion in FY2024 (+8.9%), $2.42 billion in FY2023 (+1.9%), $2.38 billion in FY2022 (-20.6%) and $2.99 billion in FY2021 (+13.1%).
- Quarterly Operating Expenses has moved between $534 million (Q3 2023) and $1.84 billion (Q3 2025) over five years.
- Compared with a year earlier, Operating Expenses was higher in seven of the last eight quarters, with growth averaging 45.5%.
- The best year-over-year quarter for Operating Expenses over five years was Q3 2025 (growth of 151.0%); the worst was Q4 2022 (a decline of 40.1%).
- Per Business Quant data, IP's Operating Expenses in the three quarters before Q2 2026 was $943 million (Q1 2026), $1.31 billion (Q4 2025) and $1.84 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Smurfit Westrock | 23.65 Bn | 20.58 Bn | 1.40 Bn | 1.09 Bn |
| 2 | International Paper | 21.34 Bn | 17.23 Bn | 1.66 Bn | 991.00 Mn |
| 3 | Packaging Corp Of America | 20.88 Bn | 18.41 Bn | 512.50 Mn | 179.30 Mn |
| 4 | Amcor | 19.78 Bn | 15.21 Bn | 1.34 Bn | 646.00 Mn |
| 5 | Ball | 15.12 Bn | 12.14 Bn | 697.00 Mn | 312.00 Mn |
| 6 | Crown Holdings | 11.68 Bn | 9.01 Bn | 748.00 Mn | 249.00 Mn |
| 7 | Sonoco Products | 4.94 Bn | 3.94 Bn | 392.38 Mn | 202.18 Mn |
| 8 | Silgan Holdings | 3.80 Bn | 1.54 Bn | 294.88 Mn | 144.94 Mn |
| 9 | Graphic Packaging Holding | 2.74 Bn | 1.96 Bn | 292.00 Mn | 186.00 Mn |
| 10 | Ardagh Metal Packaging | 2.63 Bn | 2.64 Bn | 238.00 Mn | -87.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 991.00 Mn |
| Mar 31, 2026 | 943.00 Mn |
| Dec 31, 2025 | 1.31 Bn |
| Sep 30, 2025 | 1.84 Bn |
| Jun 30, 2025 | 927.00 Mn |
| Mar 31, 2025 | 1.04 Bn |
| Dec 31, 2024 | 742.00 Mn |
| Sep 30, 2024 | 731.00 Mn |
| Jun 30, 2024 | 704.00 Mn |
| Mar 31, 2024 | 629.00 Mn |
| Dec 31, 2023 | 704.00 Mn |
| Sep 30, 2023 | 534.00 Mn |
| Jun 30, 2023 | 571.00 Mn |
| Mar 31, 2023 | 613.00 Mn |
| Dec 31, 2022 | 551.00 Mn |
| Sep 30, 2022 | 680.00 Mn |
| Jun 30, 2022 | 556.00 Mn |
| Mar 31, 2022 | 591.00 Mn |
| Dec 31, 2021 | 920.00 Mn |
| Sep 30, 2021 | 652.00 Mn |
API Access
International Paper Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=IP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "IP", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=IP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();