MAGNNYSEPaper MillsUS GAAP · USD

Magnera Corp

Magnera Corp is a U.S.-based specialty materials manufacturer formed from the merger of Berry Global's Treasure Holdco business with Glatfelter. It makes engineered nonwoven and specialty substrate products used in personal care, wipes, filtration, healthcare, and food-and-beverage applications, with operations split between the Americas and Rest of World.

Kysy yhtiöstä
Liikevaihto3 204milj. USD
+46,5 %v/v
Liikevoitto (EBIT)5,0milj. USD
+103,5 %v/v
EBIT-marginaali0,2%
+6,6 %-yks.v/v
Nettotulos−159milj. USD
−3,2 %v/v
Vapaa kassavirta36,0milj. USD
−70,0 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−1 00001 0002 0003 0004 000milj. USD2020: EBIT 49 milj. USD20202021: EBIT 29 milj. USD20212022: EBIT −164 milj. USD20222023: EBIT 2,7 milj. USD20232024: 2 187 milj. USD2024: EBIT −141 milj. USD20242025: 3 204 milj. USD2025: EBIT 5,0 milj. USD20253 2045,0
LiikevaihtoLiikevoitto (EBIT)
Kysy Clarifolta: Magnera Corp

Liiketoiminta

Osuus liikevaihdosta
Personal care and hygiene materials45 %

Nonwoven and specialty substrates used in wipes, baby diapers, feminine care, and adult incontinence.

Healthcare and medical materials15 %

Materials and components used in medical garments, healthcare wipes, and related disposable applications.

Filtration and consumer solution materials20 %

Substrates for air filtration, coffee filters, tea bags, and other consumer and industrial filtration uses.

Technical and infrastructure materials10 %

Specialty materials such as cable wrap and other technical solutions for infrastructure markets.

Other specialty materials and components10 %

Additional proprietary and custom-engineered materials sold into targeted end markets.

Asiakkaat

Magnera sells to a mix of global and national brands, private-label customers, and smaller regional businesses. Its end markets are largely consumer-oriented and recurring in nature, with demand tied to disposable and durable products such as wipes, diapers, filtration, and food-and-beverage applications.

Global brand owners

Buy high-volume specialty materials for wipes, hygiene, filtration, and food applications where consistency and scale matter.

National brands

Purchase engineered substrates and components for branded disposable products and value-added consumer solutions.

Private label manufacturers

Source materials for store-brand diapers, wipes, and hygiene products where cost, reliability, and supply continuity matter.

Regional converters and smaller businesses

Buy customized specialty materials in smaller volumes, often for niche or local end markets.

Healthcare and industrial end users

Use technical substrates for medical garments, filtration, and infrastructure-related applications.

Strategia

Magnera is focused on integrating the post-merger platform, realizing the expected $55 million of annual synergies, and using Project CORE to rationalize capacity and improve equipment utilization. Management also intends to pursue additional acquisitions that expand product lines, strengthen market positions, and create post-synergy value across its customer base.

Integration and synergy realizationLyhyt aikaväli

The merger created a larger platform, and expected synergies are central to the investment case.

Capacity rationalization and productivityLyhyt aikaväli

Lower utilization and market softness make cost discipline important to protect margins and cash flow.

Acquisition-led growthKeskipitkä aikaväli

Management wants to expand product lines and market positions through complementary deals.

Maantiede

Q1/2026

Magnera operates through two reportable regions: Americas and Rest of World. The Americas accounted for 57% of consolidated net sales and includes 22 manufacturing facilities across the U.S., Brazil, Mexico, Canada, and Colombia, while Rest of World accounted for 43% and includes 23 facilities across Europe and Asia. This footprint gives the company local production near customers, but also exposes it to foreign exchange, tariffs, and regional demand swings.

Americas49 %
Other countries (US filing)41 %
Latin America10 %

Osuus liikevaihdosta, jonka yhtiö raportoi maantieteellisesti.

Riskit

Magnera is exposed to cyclical demand, raw-material inflation, tariffs, and foreign exchange volatility, all of which can pressure pricing and margins in a business with limited long-term customer contracts. The post-merger integration also adds execution risk, while the company’s large manufacturing footprint creates exposure to plant disruptions, underutilization, and goodwill impairment if performance weakens.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Demand softness and customer volume declines1Raw material and tariff pass-through risk2Integration and acquisition execution3Foreign exchange and currency controls4Manufacturing disruption and capacity underutilization5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Demand softness and customer volume declinesVaikutus: KorkeaTodennäköisyys: Kohtalainen

    The company serves consumer-oriented end markets that can weaken with macro conditions and industrial slowdown.

    Kohdistuu: Organic volume decline and general market softness were cited in recent results.

  2. Raw material and tariff pass-through riskVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Margins depend on the ability to pass through input-cost changes, including tariffs, to customers.

    Kohdistuu: Specialty materials and organic/synthetic raw ingredients are core inputs.

  3. Integration and acquisition executionVaikutus: KorkeaTodennäköisyys: Matala

    The merger and future acquisitions require systems, plant, and customer integration to realize expected benefits.

    Kohdistuu: Synergy realization and business optimization costs.

  4. Foreign exchange and currency controlsVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    The company has significant non-U.S. operations and reported FX impacts in recent periods.

    KohdistuuEuropeLatin AmericaChina operations create translationTransaction risk
  5. Manufacturing disruption and capacity underutilizationVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    A large multi-site manufacturing network can be affected by outages, disasters, or low utilization.

    Kohdistuu: 22 Americas sites and 23 Rest of World sites.

Kysy Clarifolta: Magnera Corp

Kirjanpito

Harkinnanvaraiset erät
Goodwill impairment testing

The company uses discounted cash flow and market approaches, so changes in assumptions can trigger impairment charges.

Vaikutus: A weaker outlook or higher discount rates could reduce reported equity and earnings.

Acquisition accounting and inventory fair value step-up

The merger created purchase accounting adjustments that flow through cost of sales and operating income.

Vaikutus: Temporary charges can distort post-deal margin comparisons.

Restructuring and integration costs

Project CORE and merger integration costs are recognized as incurred and can be material in the near term.

Vaikutus: These items affect comparability of operating profit and cash flow.

Foreign currency translation and hyperinflation

A large international footprint creates translation effects and exposure to hyperinflation accounting in Argentina.

Vaikutus: Reported sales and operating income can move materially with FX rates.

Unremitted foreign earnings and cash location

Most cash was held outside the U.S., which affects tax planning and liquidity presentation.

Vaikutus: Potential repatriation taxes and cash availability analysis.

Samankaltaisia listattuja yhtiöitä

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

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Päivitetty: 24.9.2026

Magnera Corp (NYSE) – Paper Mills | Analyysi – Clarifo