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Clearwater Paper Corporation

CLW
15
Paper, Lumber & Forest Products · Basic Materials
Winston Score
15
Winston is worried
Weak fundamentals across most pillars.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Weak
Growth
Weak
Cash Flow
Weak
Stability
Mixed
Valuation
Data not available

Winston Score History

The full picture

Clearwater Paper Corporation makes paper products sold in grocery stores and big-box retailers across the United States. The company focuses on private-label tissue products — things like store-brand toilet paper, paper towels, and facial tissue — which retailers sell under their own names instead of national brands. It is one of the larger dedicated private-label tissue manufacturers in the country.

Clearwater makes money by selling these paper products directly to retailers and wholesale distributors. The company operates primarily in the United States, with several manufacturing facilities, and generates roughly $1.7 billion in annual revenue. Its competitive position depends on being a reliable, low-cost supplier to retailers who want an alternative to expensive branded products — but thin margins and rising input costs for pulp and energy are a constant pressure. With a gross margin around 5% and a slightly negative operating margin, the biggest challenge ahead is improving profitability as raw material costs fluctuate and competition from other private-label producers remains intense.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-4.3% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-882.4% YoY

YoY Growth Rate

Earnings declining

Insider Activity

3.4%ownership

Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$95M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

Clearwater Paper Corporation's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
-2.8%
Thin — -2.8% gross margin
Profit after running costs
Operating Margin
-6.4%
Losing money on operations — -6.4%
Return on the money invested
ROCE
-4.6%
Weak — -4.6% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
-1.9%
Shrinking sales (-1.9% YoY)
Profit growth
EPS YoY
-125.3%
Earnings shrinking (-125.3% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is
EPS Consistency
2/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
3.7%
Thin free cash flow (3.7%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
0.45
Conservative — low debt load (0.45)
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
no trend
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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