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Smurfit Westrock (SW) Financials

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$40.59 -0.31 (-0.77%)
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Annual Income Statements for Smurfit Westrock

Annual Income Statements for Smurfit Westrock

This table shows Smurfit Westrock's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 1,034 825 319 699
Consolidated Net Income / (Loss)		 1,035 826 319 699
Net Income / (Loss) Continuing Operations		 1,035 826 319 699
Total Pre-Tax Income 		1,426 1,138 560 959
Total Operating Income		 1,558 1,372 1,007 1,719
Total Gross Profit		 3,272 3,054 4,195 6,043
Total Revenue		 13,509 12,093 21,109 31,179
Operating Revenue		 13,509 12,093 21,109 31,179
Total Cost of Revenue		 10,237 9,039 16,914 25,136
Operating Cost of Revenue		 10,237 9,039 16,914 25,136
Total Operating Expenses		 1,714 1,682 3,188 4,324
Selling, General & Admin Expense		 1,543 1,572 2,737 3,819
Other Operating Expenses / (Income)		 0.00 78 395 120
Restructuring Charge		 - 32 56 385
Total Other Income / (Expense), net		 -132 -234 -447 -760
Interest Expense		 8.00 49 24 -30
Interest & Investment Income		 -139 -139 -398 -729
Other Income / (Expense), net		 15 -46 -25 -61
Income Tax Expense		 391 312 241 260
Net Income / (Loss) Attributable to Noncontrolling Interest		 1.00 1.00 0.00 0.00
Basic Earnings per Share		 $4.00 $3.19 $0.83 $1.34
Weighted Average Basic Shares Outstanding		 - - 521.96M 524.25M
Diluted Earnings per Share		 $3.96 $3.17 $0.82 $1.33
Weighted Average Diluted Shares Outstanding		 - - 521.96M 524.25M
Weighted Average Basic & Diluted Shares Outstanding		 - - 521.96M 524.25M
Cash Dividends to Common per Share		 $1.35 $1.50 - $1.72

Quarterly Income Statements for Smurfit Westrock

This table shows Smurfit Westrock's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 3/31/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 0.00 229 191 132 -150 469 384 -28 246 97 65
Consolidated Net Income / (Loss)		 0.00 229 191 132 -150 469 382 -26 245 98 63
Net Income / (Loss) Continuing Operations		 0.00 229 191 132 -150 469 382 -26 245 98 63
Total Pre-Tax Income 		0.00 302 267 187 -117 677 390 58 336 175 84
Total Operating Income		 0.00 354 307 244 55 952 553 251 526 389 253
Total Gross Profit		 0.00 742 710 693 1,350 2,845 1,577 1,515 1,569 1,382 1,268
Total Revenue		 0.00 2,915 2,930 2,969 7,671 13,438 7,656 7,940 8,003 7,580 7,712
Operating Revenue		 - 2,915 2,930 2,969 7,671 - 7,656 7,940 8,003 7,580 7,712
Total Cost of Revenue		 0.00 2,173 2,220 2,276 6,321 10,593 6,079 6,425 6,434 6,198 6,444
Operating Cost of Revenue		 - 2,173 2,220 2,276 6,321 - 6,079 6,425 6,434 6,198 6,444
Total Operating Expenses		 0.00 388 403 449 1,295 1,893 1,024 1,264 1,043 993 1,015
Selling, General & Admin Expense		 - 371 380 389 1,007 - 973 963 963 905 961
Other Operating Expenses / (Income)		 - 17 23 60 267 - 36 21 15 48 0.00
Restructuring Charge		 - - - 0.00 21 - 15 280 65 - 54
Total Other Income / (Expense), net		 0.00 -52 -40 -57 -172 -275 -163 -193 -190 -214 -169
Interest Expense		 - 9.00 10 29 -8.00 - -9.00 -7.00 -8.00 -6.00 -8.00
Interest & Investment Income		 - -39 -25 -33 -167 - -167 -182 -177 -203 -166
Other Income / (Expense), net		 - -4.00 -5.00 5.00 -13 - -5.00 -18 -21 -17 -11
Income Tax Expense		 - 73 76 55 33 - 8.00 84 91 77 21
Net Income / (Loss) Attributable to Noncontrolling Interest		 - 0.00 0.00 0.00 0.00 - -2.00 2.00 -1.00 1.00 -2.00
Basic Earnings per Share		 - $0.89 $0.74 $0.51 ($0.30) - $0.74 ($0.05) $0.47 $0.18 $0.12
Weighted Average Basic Shares Outstanding		 - - 100.00 519.36M 520.16M 521.96M 522.01M 522.13M 522.19M 524.25M 524.46M
Diluted Earnings per Share		 - $0.88 $0.73 $0.51 ($0.30) - $0.73 ($0.05) $0.47 $0.18 $0.12
Weighted Average Diluted Shares Outstanding		 - - 100.00 519.36M 520.16M 521.96M 522.01M 522.13M 522.19M 524.25M 524.46M
Weighted Average Basic & Diluted Shares Outstanding		 - - 100.00 519.36M 520.16M 521.96M 522.01M 522.13M 522.19M 524.25M 524.46M
Cash Dividends to Common per Share		 - - - $1.28 $0.30 - $0.43 $0.43 $0.43 - $0.45

Annual Cash Flow Statements for Smurfit Westrock

This table details how cash moves in and out of Smurfit Westrock's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -144 159 -145 37
Net Cash From Operating Activities		 1,433 1,559 1,483 3,392
Net Cash From Continuing Operating Activities		 1,433 1,559 1,483 3,392
Net Income / (Loss) Continuing Operations		 1,035 826 319 699
Consolidated Net Income / (Loss)		 1,035 826 319 699
Depreciation Expense		 564 580 1,464 2,550
Non-Cash Adjustments To Reconcile Net Income		 128 32 158 230
Changes in Operating Assets and Liabilities, net		 -294 121 -458 -87
Net Cash From Investing Activities		 -1,020 -931 -2,114 -2,143
Net Cash From Continuing Investing Activities		 -1,020 -931 -2,114 -2,143
Purchase of Property, Plant & Equipment		 -930 -929 -1,466 -2,192
Acquisitions		 -93 -29 -719 -6.00
Sale of Property, Plant & Equipment		 13 17 61 12
Other Investing Activities, net		 -10 10 10 43
Net Cash From Financing Activities		 -431 -479 607 -1,298
Net Cash From Continuing Financing Activities		 -431 -479 607 -1,298
Repayment of Debt		 -60 -146 -4,398 -1,927
Repurchase of Common Equity		 -74 -30 -27 0.00
Payment of Dividends		 -349 -391 -650 -900
Issuance of Debt		 52 88 5,708 1,598
Other Financing Activities, net		 0.00 0.00 -26 -69
Effect of Exchange Rate Changes		 -126 10 -121 86

Quarterly Cash Flow Statements for Smurfit Westrock

This table details how cash moves in and out of Smurfit Westrock's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -112 271 -189 0.03 -49 -96 -58 -19 73 41 -218
Net Cash From Operating Activities		 948 611 42 - 702 781 235 829 1,133 1,195 204
Net Cash From Continuing Operating Activities		 948 611 42 - 702 781 235 829 1,133 1,195 204
Net Income / (Loss) Continuing Operations		 777 49 191 - 173 146 382 -26 245 98 63
Consolidated Net Income / (Loss)		 777 49 191 - 173 146 382 -26 245 98 63
Depreciation Expense		 - 150 148 - - 592 603 613 659 675 728
Non-Cash Adjustments To Reconcile Net Income		 - 24 7.00 - - 48 15 169 55 -9.00 32
Changes in Operating Assets and Liabilities, net		 -267 388 -304 - -453 -5.00 -765 73 174 431 -619
Net Cash From Investing Activities		 -677 -254 -207 - -1,595 -519 -476 -520 -568 -579 -627
Net Cash From Continuing Investing Activities		 -677 -254 -207 - -1,595 -519 -476 -520 -568 -579 -627
Purchase of Property, Plant & Equipment		 - -268 -208 - - -569 -477 -522 -610 -583 -624
Acquisitions		 - - 0.00 - - -3.00 -4.00 -1.00 - -1.00 -18
Sale of Property, Plant & Equipment		 - 6.00 - - - 46 0.00 - 15 -3.00 9.00
Other Investing Activities, net		 - 8.00 1.00 - - 7.00 5.00 3.00 27 8.00 6.00
Net Cash From Financing Activities		 -378 -101 0.00 0.03 869 -262 151 -355 -470 -624 209
Net Cash From Continuing Financing Activities		 -378 -101 0.00 - 869 -262 151 -355 -470 -624 209
Repayment of Debt		 - -20 -28 - - -2,726 -101 -66 -29 -1,731 -40
Payment of Dividends		 - -92 0.00 - - -157 -225 -225 -225 -225 -237
Issuance of Debt		 - 11 55 - - 2,614 541 -61 -215 1,333 555
Issuance of Common Equity		 - - - - - - 0.00 - - - 14
Other Financing Activities, net		 - - 0.00 - - 7.00 -64 -3.00 -1.00 -1.00 -83
Effect of Exchange Rate Changes		 - 15 -24 - - - 32 27 -22 49 -4.00

Annual Balance Sheets for Smurfit Westrock

This table presents Smurfit Westrock's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Total Assets		 14,051 43,759 45,157
Total Current Assets		 4,570 10,055 10,439
Cash & Equivalents		 1,000 855 892
Accounts Receivable		 1,806 4,117 4,268
Inventories, net		 1,203 3,550 3,693
Other Current Assets		 561 1,533 1,586
Plant, Property, & Equipment, net		 5,791 22,675 23,232
Total Noncurrent Assets		 3,690 11,029 11,486
Goodwill		 2,842 6,822 7,218
Intangible Assets		 218 1,117 1,059
Employee Benefit Assets		 29 635 616
Other Noncurrent Operating Assets		 601 2,455 2,593
Total Liabilities & Shareholders' Equity		 14,051 43,759 45,157
Total Liabilities		 7,877 26,372 26,803
Total Current Liabilities		 3,006 7,333 7,064
Short-Term Debt		 78 1,053 346
Accounts Payable		 1,728 3,290 3,597
Accrued Expenses		 278 715 601
Current Employee Benefit Liabilities		 438 882 997
Other Current Liabilities		 484 1,393 1,523
Total Noncurrent Liabilities		 4,871 19,039 19,739
Long-Term Debt		 3,669 12,542 13,427
Noncurrent Deferred & Payable Income Tax Liabilities		 280 3,600 3,297
Noncurrent Employee Benefit Liabilities		 537 706 697
Other Noncurrent Operating Liabilities		 385 2,191 2,318
Commitments & Contingencies		 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 6,174 17,387 18,354
Total Preferred & Common Equity		 6,158 17,360 18,327
Preferred Stock		 0.00 0.00 0.00
Total Common Equity		 6,158 17,360 18,327
Common Stock		 3,575 15,949 16,084
Retained Earnings		 3,521 2,950 2,655
Treasury Stock		 -91 -93 -64
Accumulated Other Comprehensive Income / (Loss)		 -847 -1,446 -348
Noncontrolling Interest		 16 27 27

Quarterly Balance Sheets for Smurfit Westrock

This table presents Smurfit Westrock's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 0.00 0.03 45,029 44,649 45,746 45,569 45,170
Total Current Assets		 0.00 0.03 10,545 10,630 10,979 10,883 10,552
Cash & Equivalents		 0.00 0.03 - 797 778 851 674
Accounts Receivable		 - - 4,613 4,548 4,844 4,668 4,644
Inventories, net		 - - 3,585 3,670 3,774 3,781 3,583
Other Current Assets		 - - 1,396 1,615 1,583 1,583 1,651
Plant, Property, & Equipment, net		 0.00 0.00 23,206 22,792 23,097 23,050 22,900
Total Noncurrent Assets		 0.00 0.00 11,278 11,227 11,670 11,636 11,718
Goodwill		 - - 7,215 6,969 7,207 7,213 7,186
Intangible Assets		 - - 1,094 1,141 1,107 1,075 1,036
Employee Benefit Assets		 - - 615 654 677 698 642
Other Noncurrent Operating Assets		 - - 2,354 2,463 2,679 2,650 2,854
Total Liabilities & Shareholders' Equity		 0.00 0.03 45,029 44,649 45,746 45,569 45,170
Total Liabilities		 0.00 0.01 27,037 26,760 27,422 27,110 27,087
Total Current Liabilities		 0.00 0.01 7,126 7,445 7,591 7,345 7,314
Short-Term Debt		 - - 745 1,300 1,034 798 980
Accounts Payable		 - 0.01 3,357 3,171 3,380 3,257 3,344
Accrued Expenses		 - - 813 - - - 636
Current Employee Benefit Liabilities		 - - 954 799 872 973 832
Other Current Liabilities		 - - 1,257 2,175 2,305 2,317 1,522
Total Noncurrent Liabilities		 0.00 0.00 19,911 19,315 19,831 19,765 19,773
Long-Term Debt		 - - 13,174 12,919 13,329 13,313 13,275
Noncurrent Deferred & Payable Income Tax Liabilities		 - - 3,682 3,608 3,482 3,455 3,410
Noncurrent Employee Benefit Liabilities		 - - 788 716 746 737 686
Other Noncurrent Operating Liabilities		 - - 2,267 2,072 2,274 2,260 2,402
Commitments & Contingencies		 - 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 0.00 0.01 17,992 17,889 18,324 18,459 18,083
Total Preferred & Common Equity		 0.00 0.01 17,965 17,864 18,297 18,433 18,058
Preferred Stock		 - - 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 0.00 0.01 17,965 17,864 18,297 18,433 18,058
Common Stock		 0.00 0.03 15,891 15,978 16,019 16,058 16,096
Retained Earnings		 - -0.01 3,178 3,030 2,771 2,787 2,397
Treasury Stock		 - - -93 -65 -65 -65 -34
Accumulated Other Comprehensive Income / (Loss)		 -0.00 -0.00 -1,011 -1,079 -428 -347 -401
Noncontrolling Interest		 - - 27 25 27 26 25

Annual Metrics And Ratios for Smurfit Westrock

This table displays calculated financial ratios and metrics derived from Smurfit Westrock's official financial filings.

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - -
Revenue Growth		 0.00% -10.48% 74.56% 47.70%
EBITDA Growth		 0.00% -10.81% 28.33% 72.04%
EBIT Growth		 0.00% -15.70% -25.94% 68.84%
NOPAT Growth		 0.00% -11.93% -42.40% 118.43%
Net Income Growth		 0.00% -20.19% -61.38% 119.12%
EPS Growth		 0.00% -19.95% -74.13% 62.20%
Operating Cash Flow Growth		 0.00% 8.79% -4.87% 128.73%
Free Cash Flow Firm Growth		 0.00% 0.00% -160.34% 100.70%
Invested Capital Growth		 0.00% 0.00% 237.71% 3.68%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.13%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% 1.59%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% -1.01%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% -2.42%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% -6.43%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 29.13%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 0.00% 13.90%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% -1.53%
Profitability Metrics		 - - - -
Gross Margin		 24.22% 25.25% 19.87% 19.38%
EBITDA Margin		 15.82% 15.76% 11.59% 13.50%
Operating Margin		 11.53% 11.35% 4.77% 5.51%
EBIT Margin		 11.64% 10.97% 4.65% 5.32%
Profit (Net Income) Margin		 7.66% 6.83% 1.51% 2.24%
Tax Burden Percent		 72.58% 72.58% 56.96% 72.89%
Interest Burden Percent		 90.65% 85.82% 57.03% 57.84%
Effective Tax Rate		 27.42% 27.42% 43.04% 27.11%
Return on Invested Capital (ROIC)		 0.00% 22.33% 2.94% 4.08%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 9.96% -0.35% -0.24%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 4.43% -0.23% -0.17%
Return on Equity (ROE)		 0.00% 26.76% 2.71% 3.91%
Cash Return on Invested Capital (CROIC)		 0.00% -177.67% -105.68% 0.47%
Operating Return on Assets (OROA)		 0.00% 9.44% 3.40% 3.73%
Return on Assets (ROA)		 0.00% 5.88% 1.10% 1.57%
Return on Common Equity (ROCE)		 0.00% 26.69% 2.70% 3.91%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 13.41% 1.84% 0.00%
Net Operating Profit after Tax (NOPAT)		 1,131 996 574 1,253
NOPAT Margin		 8.37% 8.23% 2.72% 4.02%
Net Nonoperating Expense Percent (NNEP)		 0.00% 12.37% 3.29% 4.32%
Return On Investment Capital (ROIC_SIMPLE)		 - 10.04% 1.85% 3.90%
Cost of Revenue to Revenue		 75.78% 74.75% 80.13% 80.62%
SG&A Expenses to Revenue		 11.42% 13.26% 13.23% 12.25%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 12.69% 13.91% 15.10% 13.87%
Earnings before Interest and Taxes (EBIT)		 1,573 1,326 982 1,658
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 2,137 1,906 2,446 4,208
Valuation Ratios		 - - - -
Price to Book Value (P/BV)		 0.00 0.00 1.60 1.09
Price to Tangible Book Value (P/TBV)		 0.00 0.00 2.95 1.99
Price to Revenue (P/Rev)		 0.00 0.00 1.32 0.64
Price to Earnings (P/E)		 0.00 0.00 87.13 28.63
Dividend Yield		 0.00% 0.00% 1.13% 4.50%
Earnings Yield		 0.00% 0.00% 1.15% 3.49%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 1.35 1.05
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 1.92 1.06
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 16.58 7.82
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 41.31 19.86
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 70.71 26.28
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 27.35 9.71
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 227.14
Leverage & Solvency		 - - - -
Debt to Equity		 0.00 0.61 0.78 0.75
Long-Term Debt to Equity		 0.00 0.59 0.72 0.73
Financial Leverage		 0.00 0.44 0.66 0.72
Leverage Ratio		 0.00 2.28 2.45 2.49
Compound Leverage Factor		 0.00 1.95 1.40 1.44
Debt to Total Capital		 0.00% 37.77% 43.88% 42.87%
Short-Term Debt to Total Capital		 0.00% 0.79% 3.40% 1.08%
Long-Term Debt to Total Capital		 0.00% 36.98% 40.48% 41.79%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.16% 0.09% 0.08%
Common Equity to Total Capital		 0.00% 62.07% 56.03% 57.05%
Debt to EBITDA		 0.00 1.97 5.56 3.27
Net Debt to EBITDA		 0.00 1.44 5.21 3.06
Long-Term Debt to EBITDA		 0.00 1.93 5.13 3.19
Debt to NOPAT		 0.00 3.76 23.70 10.99
Net Debt to NOPAT		 0.00 2.76 22.21 10.28
Long-Term Debt to NOPAT		 0.00 3.68 21.86 10.72
Altman Z-Score		 0.00 0.00 1.36 1.43
Noncontrolling Interest Sharing Ratio		 0.00% 0.26% 0.18% 0.15%
Liquidity Ratios		 - - - -
Current Ratio		 0.00 1.52 1.37 1.48
Quick Ratio		 0.00 0.93 0.68 0.73
Cash Flow Metrics		 - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -7,925 -20,632 145
Operating Cash Flow to CapEx		 156.27% 170.94% 105.55% 155.60%
Free Cash Flow to Firm to Interest Expense		 0.00 -161.74 -859.68 0.00
Operating Cash Flow to Interest Expense		 179.13 31.82 61.79 0.00
Operating Cash Flow Less CapEx to Interest Expense		 64.50 13.20 3.25 0.00
Efficiency Ratios		 - - - -
Asset Turnover		 0.00 0.86 0.73 0.70
Accounts Receivable Turnover		 0.00 6.70 7.13 7.44
Inventory Turnover		 0.00 7.51 7.12 6.94
Fixed Asset Turnover		 0.00 2.09 1.48 1.36
Accounts Payable Turnover		 0.00 5.23 6.74 7.30
Days Sales Outstanding (DSO)		 0.00 54.51 51.21 49.08
Days Inventory Outstanding (DIO)		 0.00 48.58 51.28 52.59
Days Payable Outstanding (DPO)		 0.00 69.78 54.14 50.00
Cash Conversion Cycle (CCC)		 0.00 33.31 48.35 51.66
Capital & Investment Metrics		 - - - -
Invested Capital		 0.00 8,921 30,127 31,235
Invested Capital Turnover		 0.00 2.71 1.08 1.02
Increase / (Decrease) in Invested Capital		 0.00 8,921 21,206 1,108
Enterprise Value (EV)		 0.00 0.00 40,562 32,924
Market Capitalization		 0.00 0.00 27,795 20,016
Book Value per Share		 $0.00 $0.00 $33.37 $35.10
Tangible Book Value per Share		 $0.00 $0.00 $18.11 $19.25
Total Capital		 0.00 9,921 30,982 32,127
Total Debt		 0.00 3,747 13,595 13,773
Total Long-Term Debt		 0.00 3,669 12,542 13,427
Net Debt		 0.00 2,747 12,740 12,881
Capital Expenditures (CapEx)		 917 912 1,405 2,180
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 642 2,920 2,829
Debt-free Net Working Capital (DFNWC)		 0.00 1,642 3,775 3,721
Net Working Capital (NWC)		 0.00 1,564 2,722 3,375
Net Nonoperating Expense (NNE)		 96 170 255 554
Net Nonoperating Obligations (NNO)		 0.00 2,747 12,740 12,881
Total Depreciation and Amortization (D&A)		 564 580 1,464 2,550
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 5.31% 13.83% 9.07%
Debt-free Net Working Capital to Revenue		 0.00% 13.58% 17.88% 11.93%
Net Working Capital to Revenue		 0.00% 12.93% 12.90% 10.82%
Earnings Adjustments		 - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.83 $1.34
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 521.96M 524.25M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.82 $1.33
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 521.96M 524.25M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 521.96M 524.25M
Normalized Net Operating Profit after Tax (NOPAT)		 1,255 996 574 1,534
Normalized NOPAT Margin		 9.29% 8.23% 2.72% 4.92%
Pre Tax Income Margin		 10.56% 9.41% 2.65% 3.08%
Debt Service Ratios		 - - - -
EBIT to Interest Expense		 196.63 27.06 40.92 0.00
NOPAT to Interest Expense		 141.35 20.32 23.90 0.00
EBIT Less CapEx to Interest Expense		 82.00 8.45 -17.63 0.00
NOPAT Less CapEx to Interest Expense		 26.73 1.71 -34.64 0.00
Payout Ratios		 - - - -
Dividend Payout Ratio		 33.72% 47.34% 203.76% 128.76%
Augmented Payout Ratio		 40.87% 50.97% 212.23% 128.76%

Quarterly Metrics And Ratios for Smurfit Westrock

This table displays calculated financial ratios and metrics derived from Smurfit Westrock's official financial filings.

Metric Q1 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 3/31/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 524,253,735.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 524,253,735.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.12
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 163.16% 0.00% 161.30% 167.43% 4.33% 0.54% 0.73%
EBITDA Growth		 0.00% 0.00% 0.00% 0.00% -88.00% 0.00% 155.78% 106.85% 92.08% 6.73% -15.73%
EBIT Growth		 0.00% 0.00% 0.00% 0.00% -88.00% 0.00% 81.46% -6.43% 1,102.38% -4.37% -55.84%
NOPAT Growth		 0.00% 0.00% 0.00% 0.00% -85.66% 0.00% 146.64% -165.33% 896.21% -17.03% -64.97%
Net Income Growth		 0.00% 0.00% 0.00% 0.00% -165.50% 0.00% 100.00% -119.70% 263.33% -32.88% -83.51%
EPS Growth		 0.00% 0.00% 0.00% 0.00% -134.09% 0.00% 0.00% -109.80% 256.67% 250.00% -83.56%
Operating Cash Flow Growth		 0.00% 0.00% 0.00% 0.00% -25.95% 27.82% 459.52% 143.82% 254.06% 53.01% -13.19%
Free Cash Flow Firm Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -14,110.63% 0.00% 98.79% 0.00% 99.47%
Invested Capital Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 259,422,864.23% 2.45% 3.68% 1.13%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 75.18% -43.03% 3.71% 0.79% -5.29% 1.74%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 341,563.41% 3,576.22% -25.45% -26.50% 37.59% -10.05% -7.35%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 341,563.41% 2,166.70% -42.44% -57.48% 116.74% -26.34% -34.95%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 447,254.47% 2,372.76% -43.10% -120.77% 440.87% -43.20% -12.89%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% 0.00% -1,219,412.20% 412.67% -18.55% -106.81% 1,042.31% -60.00% -35.71%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 88.28% 0.00% 0.00% -106.85% 1,040.00% -61.70% -33.33%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 11.25% -69.91% 252.77% 36.67% 5.47% -82.93%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 100.00% 0.00% -4.07% 98.83% -137.09% 81.66%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 251,707,417.07% -2.69% 3.93% 1.91% -0.60% -1.53% 1.37%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 25.45% 0.00% 0.00% 17.60% 21.17% 20.60% 19.08% 19.61% 18.23% 16.44%
EBITDA Margin		 0.00% 12.01% 0.00% 0.00% 0.55% 11.49% 15.03% 10.65% 14.54% 13.81% 12.58%
Operating Margin		 0.00% 12.14% 0.00% 0.00% 0.72% 7.08% 7.22% 3.16% 6.57% 5.13% 3.28%
EBIT Margin		 0.00% 12.01% 0.00% 0.00% 0.55% 7.08% 7.16% 2.93% 6.31% 4.91% 3.14%
Profit (Net Income) Margin		 0.00% 7.86% 0.00% 0.00% -1.96% 3.49% 4.99% -0.33% 3.06% 1.29% 0.82%
Tax Burden Percent		 0.00% 75.83% 0.00% 100.00% 128.21% 69.28% 97.95% -44.83% 72.92% 56.00% 75.00%
Interest Burden Percent		 0.00% 86.29% 0.00% 100.00% -278.57% 71.11% 71.17% 24.89% 66.53% 47.04% 34.71%
Effective Tax Rate		 0.00% 24.17% 0.00% 0.00% 0.00% 0.00% 2.05% 144.83% 27.08% 44.00% 25.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 4.96% 11.68% -2.74% 4.76% 2.92% 2.44%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 1.17% 9.30% -1.46% 3.71% 1.99% 1.50%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.86% 6.97% -1.08% 2.67% 1.42% 1.13%
Return on Equity (ROE)		 0.00% 0.00% 0.00% 0.00% 0.00% 5.82% 18.65% -3.82% 7.43% 4.34% 3.57%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% -68.48% -194.02% 0.00% 0.00% 0.47% 1.50%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 5.17% 8.28% 3.95% 4.34% 3.44% 2.18%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 2.55% 5.77% -0.44% 2.10% 0.91% 0.57%
Return on Common Equity (ROCE)		 0.00% 0.00% 0.00% 0.00% 0.00% 5.81% 18.62% -3.81% 7.42% 4.34% 3.56%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2.85% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 0.00 268 0.00 -0.01 39 952 542 -113 384 218 190
NOPAT Margin		 0.00% 9.21% 0.00% 0.00% 0.50% 7.08% 7.07% -1.42% 4.79% 2.87% 2.46%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% -13.79% 2.91% 3.79% 2.38% -1.27% 1.06% 0.94% 0.94%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - 3.07% 1.69% -0.34% 1.18% 0.68% 0.59%
Cost of Revenue to Revenue		 0.00% 74.55% 0.00% 0.00% 82.40% 78.83% 79.40% 80.92% 80.39% 81.77% 83.56%
SG&A Expenses to Revenue		 0.00% 12.73% 0.00% 0.00% 13.40% 0.00% 12.90% 12.13% 12.03% 11.94% 12.46%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 13.31% 0.00% 0.00% 16.88% 14.09% 13.38% 15.92% 13.03% 13.10% 13.16%
Earnings before Interest and Taxes (EBIT)		 0.00 350 0.00 -0.01 42 952 548 233 505 372 242
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 0.00 350 0.00 -0.01 42 1,544 1,151 846 1,164 1,047 970
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 1.43 1.60 1.32 1.23 1.21 1.09 1.16
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 2.66 2.95 2.41 2.26 2.19 1.99 2.12
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.00 1.32 0.91 0.73 0.71 0.64 0.67
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 87.13 45.94 63.99 29.72 28.63 54.98
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.61% 1.13% 2.30% 3.40% 3.75% 4.50% 4.38%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 1.15% 2.18% 1.56% 3.37% 3.49% 1.82%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 1.25 1.35 1.18 1.13 1.12 1.05 1.09
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 1.92 1.43 1.17 1.14 1.06 1.10
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 16.58 11.75 10.08 8.57 7.82 8.57
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 41.31 30.10 29.82 21.20 19.86 25.52
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 70.71 39.51 45.14 27.66 26.28 41.78
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 27.35 22.06 16.69 11.93 9.71 10.26
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 227.14 72.97
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.77 0.78 0.79 0.78 0.76 0.75 0.79
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.73 0.72 0.72 0.73 0.72 0.73 0.73
Financial Leverage		 0.00 0.00 -1.00 -1.85 0.72 0.73 0.75 0.74 0.72 0.72 0.75
Leverage Ratio		 0.00 0.00 1.00 1.85 2.50 2.45 2.50 2.50 2.49 2.49 2.50
Compound Leverage Factor		 0.00 0.00 0.00 1.85 -6.97 1.74 1.78 0.62 1.65 1.17 0.87
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 43.62% 43.88% 44.28% 43.94% 43.33% 42.87% 44.08%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 2.33% 3.40% 4.05% 3.16% 2.45% 1.08% 3.03%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 41.28% 40.48% 40.24% 40.78% 40.88% 41.79% 41.05%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.08% 0.09% 0.08% 0.08% 0.08% 0.08% 0.08%
Common Equity to Total Capital		 0.00% 0.00% 100.00% 100.00% 56.30% 56.03% 55.64% 55.98% 56.60% 57.05% 55.84%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 5.56 4.52 4.01 3.41 3.27 3.54
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 5.21 4.27 3.79 3.20 3.06 3.37
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 5.13 4.11 3.72 3.21 3.19 3.30
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 23.70 15.20 17.94 10.99 10.99 17.26
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 22.21 14.35 16.97 10.33 10.28 16.45
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 21.86 13.81 16.65 10.37 10.72 16.08
Altman Z-Score		 0.00 0.00 0.00 0.00 0.00 1.36 1.33 1.36 1.39 1.34 1.33
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.18% 0.14% 0.15% 0.15% 0.15% 0.14%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.00 0.00 0.00 2.18 1.48 1.37 1.43 1.45 1.48 1.48 1.44
Quick Ratio		 0.00 0.00 0.00 2.18 0.65 0.68 0.72 0.74 0.75 0.73 0.73
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 0.00 0.00 0.00 -30,922 0.00 -30,769 -32,022 -375 -890 -163
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 149.33% 49.27% 158.81% 190.42% 203.92% 33.17%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 105.33 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 105.33 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.73 1.16 1.35 0.69 0.70 0.70
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 7.13 0.00 0.00 6.71 7.44 6.80
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 7.12 0.00 0.00 6.80 6.94 7.03
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 1.48 0.00 0.00 1.35 1.36 1.37
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 6.74 0.00 14.75 7.57 7.30 7.83
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 51.21 0.00 0.00 54.40 49.08 53.71
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 51.28 0.00 0.00 53.70 52.59 51.91
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 54.14 0.00 24.75 48.21 50.00 46.63
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 48.35 0.00 -24.75 59.88 51.66 58.99
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 0.00 0.00 0.00 -0.01 30,960 30,127 31,311 31,909 31,719 31,235 31,664
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00 0.70 1.65 1.93 0.99 1.02 0.99
Increase / (Decrease) in Invested Capital		 0.00 0.00 0.00 0.00 30,960 0.00 31,311 31,909 759 1,108 353
Enterprise Value (EV)		 0.00 0.00 0.00 0.00 38,662 40,562 36,967 36,137 35,513 32,924 34,498
Market Capitalization		 0.00 0.00 0.00 0.00 25,667 27,795 23,520 22,525 22,227 20,016 20,892
Book Value per Share		 $0.00 $0.00 $1.08 $144.62 $34.59 $33.37 $34.22 $35.05 $35.30 $35.10 $34.45
Tangible Book Value per Share		 $0.00 $0.00 $1.08 $144.62 $18.59 $18.11 $18.69 $19.12 $19.43 $19.25 $18.76
Total Capital		 0.00 0.00 0.00 0.01 31,911 30,982 32,108 32,687 32,570 32,127 32,338
Total Debt		 0.00 0.00 0.00 0.00 13,919 13,595 14,219 14,363 14,111 13,773 14,255
Total Long-Term Debt		 0.00 0.00 0.00 0.00 13,174 12,542 12,919 13,329 13,313 13,427 13,275
Net Debt		 0.00 0.00 -0.00 -0.03 12,968 12,740 13,422 13,585 13,260 12,881 13,581
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 523 477 522 595 586 615
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 0.00 0.00 -0.01 3,213 2,920 3,688 3,644 3,485 2,829 3,544
Debt-free Net Working Capital (DFNWC)		 0.00 0.00 0.00 0.01 4,164 3,775 4,485 4,422 4,336 3,721 4,218
Net Working Capital (NWC)		 0.00 0.00 0.00 0.01 3,419 2,722 3,185 3,388 3,538 3,375 3,238
Net Nonoperating Expense (NNE)		 0.00 39 0.00 0.00 189 483 160 -87 139 120 127
Net Nonoperating Obligations (NNO)		 0.00 0.00 -0.00 -0.03 12,968 12,740 13,422 13,585 13,260 12,881 13,581
Total Depreciation and Amortization (D&A)		 0.00 0.00 0.00 0.00 0.00 592 603 613 659 675 728
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 13.83% 14.28% 11.83% 11.19% 9.07% 11.35%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 17.88% 17.36% 14.35% 13.93% 11.93% 13.50%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 12.90% 12.33% 11.00% 11.36% 10.82% 10.37%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 ($2.56) ($0.30) $0.00 $0.74 ($0.05) $0.47 $0.18 $0.12
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 100.00 519.36M 520.16M 521.96M 522.01M 522.13M 522.19M 524.25M 524.46M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 ($2.56) ($0.30) $0.00 $0.73 ($0.05) $0.47 $0.18 $0.12
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 100.00 519.36M 520.16M 521.96M 522.01M 522.13M 522.19M 524.25M 524.46M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 100.00 519.36M 520.16M 521.96M 522.01M 522.13M 522.19M 524.25M 524.46M
Normalized Net Operating Profit after Tax (NOPAT)		 0.00 268 0.00 -0.01 39 666 542 372 431 218 230
Normalized NOPAT Margin		 0.00% 9.21% 0.00% 0.00% 0.50% 4.96% 7.07% 4.68% 5.38% 2.87% 2.99%
Pre Tax Income Margin		 0.00% 10.36% 0.00% 0.00% -1.53% 5.04% 5.09% 0.73% 4.20% 2.31% 1.09%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 38.89 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 29.83 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 38.89 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 29.83 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 203.76% 171.57% 217.33% 111.38% 128.76% 240.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 212.23% 171.57% 217.33% 111.38% 128.76% 240.00%

Financials Breakdown Chart

Key Financial Trends

Here is a concise, data-driven view of Smurfit Westrock's key trends from 2023 through 2025, based on the supplied quarterly income statements, balance sheets, and cash flow statements. The focus is on revenue, profitability, cash flow, and leverage over the period.

  • Strong quarterly operating cash flow in 2025 Q4 at about $1.20B, improving from prior year levels and signaling solid cash generation to fund obligations and investments.
  • Net income to common shareholders remained positive in most recent quarters (Q4 2025 ≈ $97M; Q3 2025 ≈ $246M; Q1 2025 ≈ $384M), suggesting ongoing earnings power despite volatility.
  • Dividends per share held steady at $0.43 per quarter (Q1–Q3 2025), supporting predictable income for investors.
  • Balance sheet shows a sizeable equity base (Total Common Equity around $18.4B in 2025 Q3) and cash balances around $0.8B, contributing to liquidity.
  • Revenue levels in 2025 (roughly 7.6–8.0B per quarter) are lower than 2024’s peak (Q4 2024 revenue around $13.44B), suggesting a shift in mix or seasonality; the longer-term trend is unclear.
  • Gross margin declined from roughly 21% in 2024 to about 18% in 2025 periods, signaling margin pressure that could erode profitability if costs stay elevated.
  • Leverage remains substantial with total liabilities around $27.6B and equity around $18.4B in 2025 Q4, implying a high debt burden and financing risk.
  • Notable profitability swings: Q2 2025 showed a net loss to common shareholders, underscoring earnings volatility.
  • Continued heavy capital expenditure (capex around $0.5–0.6B per quarter) keeps cash outflows elevated and may pressure near-term free cash flow.
  • Cash investing outflows in several quarters reduced near-term free cash flow (e.g., Q3 2025 and Q4 2025), potentially limiting flexibility for dividends or debt reduction.
05/12/26 10:57 AM ETAI Generated. May Contain Errors.

Smurfit Westrock Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Smurfit Westrock's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Smurfit Westrock's net income appears to be on a downward trend, with a most recent value of $699 million in 2025, falling from $1.04 billion in 2022. The previous period was $319 million in 2024. See where experts think Smurfit Westrock is headed by visiting Smurfit Westrock's forecast page.

Smurfit Westrock's total operating income in 2025 was $1.72 billion, based on the following breakdown:
  • Total Gross Profit: $6.04 billion
  • Total Operating Expenses: $4.32 billion

Over the last 3 years, Smurfit Westrock's total revenue changed from $13.51 billion in 2022 to $31.18 billion in 2025, a change of 130.8%.

Smurfit Westrock's total liabilities were at $26.80 billion at the end of 2025, a 1.6% increase from 2024, and a 240.3% increase since 2023.

In the past 2 years, Smurfit Westrock's cash and equivalents has ranged from $855 million in 2024 to $1 billion in 2023, and is currently $892 million as of their latest financial filing in 2025.

Over the last 3 years, Smurfit Westrock's book value per share changed from 0.00 in 2022 to 35.10 in 2025, a change of 3,509.7%.


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Financial statements for NYSE:SW last updated on 5/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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