Magnera Corp
MAGN · Paper Mills · 35.8M shares · -8%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $5M (gross $12M, SBC $7M)
Reference price $12.38 · est. market cap ~$443M — last insider purchase, 2025-06-05 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D52Magnera is a scaled but loss-making specialty-materials maker carrying heavy merger-driven leverage and razor-thin margins.
Strengths
- Adequate liquidity (current ratio 2.37) and positive free cash flow ($36M, 57th pct)
- Scale and end-market diversity post-Berry/Glatfelter merger; revenue up 47%
- Cash position solid (68th pct)
Risks
- Net loss (net margin -4.96%, ROE -14.9%, 32nd pct) and very thin gross margin (9th pct)
- High leverage (D/E 1.83, 90th pct) with a large jump in interest expense
- Integration risk, organic volume declines and import competition
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Net lossNet loss (net margin -5.0%)
- Buying back stockNet buyback — share count -8%/yr over 4y
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
10.5%
Operating margin
0.2%
Net margin
-5.0%
Return on equity
-14.9%
Return on assets
-4.0%
ROIC
0.1%
Revenue growth (QoQ)
0.5%
Debt / equity
1.8×
Net debt / EBITDA
7.8×
Current ratio
2.4×
Free cash flow
$36M
EBITDA
$211M
Tangible book value
$174M
Cash & investments
$305M
Stock comp / revenue
0.6%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-02-28 | Urey Jill L. | Option exercise | 1.6K | $12.95 |
| 2026-02-28 | Urey Jill L. | Tax withheld | 521 | $12.95 |
| 2026-02-24 | Urey Jill L. | Option exercise | 205 | $13.03 |
| 2026-02-24 | Urey Jill L. | Tax withheld | 68 | $13.03 |
| 2025-11-04 | Manroa Tarun | Option exercise | 3.6K | $8.53 |
| 2025-11-04 | Manroa Tarun | Tax withheld | 1.6K | $8.53 |
| 2025-11-04 | Urey Jill L. | Option exercise | 1.6K | $8.53 |
| 2025-11-04 | Urey Jill L. | Tax withheld | 441 | $8.53 |
| 2025-11-04 | Fahnemann Thomas | Option exercise | 7.1K | $8.53 |
| 2025-11-04 | RICKERTSEN CARL J | Option exercise | 9.5K | $8.53 |
| 2025-11-04 | Hall Mary Dean | Option exercise | 9.5K | $8.53 |
| 2025-11-04 | Fogarty Kevin Michael | Option exercise | 9.5K | $8.53 |
| 2025-11-04 | Curless Michael S | Option exercise | 9.5K | $8.53 |
| 2025-11-04 | Salmon Tom | Option exercise | 9.5K | $8.53 |
| 2025-11-04 | Brown Bruce | Option exercise | 9.5K | $8.53 |
| 2025-11-04 | Marnick Samantha J. | Option exercise | 9.5K | $8.53 |
| 2025-11-04 | Begle Curt | Option exercise | 18K | $8.53 |
| 2025-11-04 | Till James | Option exercise | 4.7K | $8.53 |
| 2025-11-04 | Till James | Tax withheld | 2.0K | $8.53 |
| 2025-06-05 | Marnick Samantha J. | Buy | 4.0K | $12.38 |
| 2025-06-04 | Curless Michael S | Buy | 10K | $12.29 |
| 2025-05-29 | Brown Bruce | Buy | 17K | $11.81 |
| 2025-05-28 | Salmon Tom | Buy | 17K | $11.94 |
| 2025-05-15 | RICKERTSEN CARL J | Buy | 20K | $13.65 |
| 2025-05-12 | Fogarty Kevin Michael | Buy | 20K | $15.15 |
| 2025-05-10 | Fogarty Kevin Michael | Option exercise | 5.4K | $14.12 |
| 2025-05-10 | Brown Bruce | Option exercise | 5.4K | $14.12 |
| 2025-05-09 | Begle Curt | Buy | 20K | $14.01 |
| 2025-02-27 | RICKERTSEN CARL J | Buy | 20K | $20.33 |
| 2025-02-24 | Beck Eileen L | Tax withheld | 174 | $20.98 |
| 2025-02-24 | Urey Jill L. | Option exercise | 205 | $20.98 |
| 2025-02-24 | Urey Jill L. | Tax withheld | 68 | $20.98 |
| 2025-02-24 | Beck Eileen L | Option exercise | 512 | $20.98 |
| 2025-02-18 | Urey Jill L. | Option exercise | 75 | $22.49 |
| 2025-02-18 | Urey Jill L. | Tax withheld | 26 | $22.49 |
| 2025-02-18 | Beck Eileen L | Option exercise | 188 | $22.49 |
| 2025-02-18 | Beck Eileen L | Tax withheld | 65 | $22.49 |
| 2025-02-11 | Begle Curt | Buy | 24K | $21.08 |
| 2024-12-31 | Urey Jill L. | Option exercise | 1.6K | $18.17 |
| 2024-12-31 | Urey Jill L. | Tax withheld | 567 | $18.17 |
| 2024-12-31 | Beck Eileen L | Option exercise | 2.2K | $18.17 |
| 2024-12-31 | Beck Eileen L | Tax withheld | 759 | $18.17 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 10-Q | 2026-05-07 | 2026-03-28 | 0000041719-26-000042 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0001140361-26-019558 ↗ |
| 8-K | 2026-03-12 | 2026-03-09 | 0000041719-26-000037 ↗ |
| 8-K | 2026-02-05 | 2026-02-05 | 0001140361-26-003803 ↗ |
| 10-Q | 2026-02-05 | 2025-12-27 | 0000041719-26-000014 ↗ |
| 8-K | 2026-02-03 | 2026-01-29 | 0000041719-26-000004 ↗ |
| 8-K | 2025-11-28 | 2025-11-28 | 0000041719-25-000115 ↗ |
| 10-K | 2025-11-25 | 2025-09-27 | 0000041719-25-000110 ↗ |
| 8-K | 2025-11-19 | 2025-11-19 | 0001140361-25-042757 ↗ |
| 8-K | 2025-10-02 | 2025-09-27 | 0000041719-25-000052 ↗ |
| 8-K | 2025-08-11 | 2025-08-05 | 0000041719-25-000043 ↗ |
| 10-Q | 2025-08-06 | 2025-06-28 | 0001140361-25-029147 ↗ |