IP drawdown: 31.6% below the all-time high
International Paper Company (IP) is 31.6% below its all-time high, set Jan 29, 2018 (as of market close, Jul 24, 2026). The chart shows every day as a percentage of the highest level reached up to that point: 100% means a fresh record, everything below is a drawdown. "All-time" means since our price data begins (1970).
- Below all-time high
- −31.6%
- 68.4% of ATH
- All-time high
- $61.63
- Jan 29, 2018
- Time below the high
- 8.5 yrs
- since Jan 29, 2018
- Worst-ever drawdown
- −93.2%
- Mar 6, 2009
- Longest underwater
- 20.5 yrs
- between all-time highs
- Today's level first reached
- Jul 10, 1995
- 31.0 yrs ago
- Last time this deep
- Jun 28, 2016
- in a previous episode
% of all-time high since 1970#
The classic underwater chart (drawdown curve), drawn as % of the all-time high — 100% is a fresh record, everything below it is time spent underwater.
% of all-time high on the price basis — the all-time high considers the full history of IP, including years before the visible window. Dividends are excluded on this basis (the convention headlines use).
The deepest drawdowns on record#
Every decline of 15% or more from an all-time high (price basis), deepest first.
| Peak | Trough | Depth | Peak → trough | Recovered by | Underwater |
|---|---|---|---|---|---|
| Jul 17, 1997 | Mar 6, 2009 | −93.2% | 11.6 yrs | Jan 2, 2018 | 20.5 yrs |
| Mar 10, 1976 | Apr 17, 1980 | −60.7% | 4.1 yrs | Jan 7, 1987 | 10.8 yrs |
| Jan 29, 2018 | Mar 23, 2020 | −59.3% | 2.1 yrs | not yet | 8.5 yrs+ |
| Apr 6, 1987 | Oct 26, 1987 | −48.3% | 7 mo | Aug 25, 1989 | 2.4 yrs |
| Jan 3, 1974 | Dec 6, 1974 | −43.2% | 11 mo | Aug 7, 1975 | 1.6 yrs |
| Jan 5, 1970 | May 26, 1970 | −28.4% | 5 mo | Apr 28, 1971 | 16 mo |
| Apr 29, 1971 | Nov 17, 1971 | −28.1% | 7 mo | May 26, 1972 | 13 mo |
| Mar 19, 1992 | Oct 14, 1993 | −27.2% | 1.6 yrs | Sep 19, 1994 | 2.5 yrs |
Price basis (no dividends) — the convention crash histories use. With dividends reinvested, recoveries arrive years earlier; switch the basis on the chart above to see it.
Drawdown vs what came next#
One dot per month since 1970: how far IP stood below its all-time high, and the total return over the following 1, 5 and 10 years.
Read this with survivorship bias in mind: IP is on this chart precisely because it survived — the many stocks that fell this far and never recovered (or were delisted) aren't on anyone's chart, so past recoveries here say little about the odds ahead. Monthly windows also overlap heavily (they are not independent samples). Not investment advice.
FAQ
- How far is IP from its all-time high?
- IP is currently 31.6% below its all-time high, set Jan 29, 2018 (as of market close, Jul 24, 2026). Prices only, the convention headlines use; with dividends reinvested the gap is usually smaller.
- What was the biggest IP drawdown ever?
- The deepest decline on record in our data (since 1970) took the stock 93.2% below its prior high, bottoming Mar 6, 2009. The table on this page lists every major episode with its peak, trough and recovery date.
Methodology & related#
Daily closing prices since 1970 (split-adjusted). "All-time" means since our price data begins — IP may have traded earlier. For a 150-year index drawdown record see the S&P 500 drawdown page. The price basis excludes dividends; the total-return basis reinvests them; the real basis additionally deflates by CPI. See also returns by year, 150 years of returns and the rolling-returns explorer. Past performance does not predict future returns; not investment advice.