FirmAtlas
Company handbook · SW · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-16
SW · CIK 2005951 · LATEST FILING: 10-Q JUN '26 · FILED JUL 31, 2026
Smurfit Westrock plc
$41.16
−0.08 (−0.19%)
Close, Oct 16, 2026 · 52-week $33–53
Last fiscal year
Smurfit Westrock plc reported revenue of $31.2B for the year ended Dec 31, 2025 (FY25), up 47.7% from FY24. Net income was $699M, operating cash flow $3.4B and free cash flow $1.2B. Source: 10-K filed Feb 27, 2026.
Market cap
$21.5B
P/E
43.3
EV/EBITDA
8.1x
P/B
1.2
Div yield
3.29%
ROIC
4.1%
Revenue 1Y
47.7%/yr
EPS 1Y
62.2%/yr
Shares 1Y
+0.4%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOAnthony Smurfit
AuditorKPMG
Employees97,000
Year endsDecember
Revenue by segment · FY25
North America59%
Europe Middle East And Africa And Asia Pacific34%
Latin America7%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
6.5%
−5.6%
7.7%
−0.4%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$6.0B deployed
Capex
$3.7B
61.4%
Acquisitions
$725M
12.2%
Dividends
$1.6B
26.0%
Buybacks
$27M
0.5%
Operating cash flow over the period: $4.9B. Total debt changed by +$178M.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
Per-share figures are split-adjusted (2-for-1 split after FY23).
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
21,109
31,179+47.7%
31,326
YoY
+47.7%
Gross profit
4,195
6,043+44.1%
5,618
Gross margin
19.9%
19.4%−0.5 pp
—
Operating income
1,007
1,719+70.7%
1,477
Operating margin
4.8%
5.5%+0.7 pp
—
EBITDA
2,471
4,269+72.8%
—
EBITDA margin
11.7%
13.7%+2.0 pp
—
Interest expense
525
840+60.0%
—
Interest coverage
4.71x
5.08x+0.38x
—
Net income
319
699+119.1%
497
YoY
+119.1%
Net margin
1.5%
2.2%+0.7 pp
—
EPS (diluted, $)
0.82
1.33+62.2%
0.95
YoY
+62.2%
Balance sheet
Total assets
43,759
45,157+3.2%
45,201
Cash & short-term investments
855
892+4.3%
—
Accounts receivable
4,117
4,268+3.7%
—
Inventory
3,550
3,693+4.0%
—
Net PP&E
22,675
23,232+2.5%
—
Other assets
12,562
13,072+4.1%
—
Total liabilities
26,399
26,830+1.6%
27,165
Accounts payable
3,290
3,597+9.3%
—
Total debt
13,595
13,773+1.3%
14,164
Other liabilities
9,514
9,460−0.6%
—
Shareholders’ equity
17,360
18,327+5.6%
18,036
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
1,483
3,392+128.7%
3,297
Net income
319
699+119.1%
—
Depreciation & amortization
1,464
2,550+74.2%
—
Stock-based compensation
206
139−32.5%
—
Working capital & other
(506)
4n/m
—
Cash from investing
(2,114)
(2,143)n/m
—
Capex
(1,466)
(2,192)n/m
—
PP&E sold
61
12−80.3%
—
Acquisitions
(719)
(6)n/m
—
Other investing
10
43+330.0%
—
Cash from financing
607
(1,298)−313.8%
—
Debt raised
5,707
1,989−65.1%
—
Debt repaid
(4,321)
(1,841)n/m
—
Dividends
(650)
(900)n/m
—
Buybacks
(27)
0n/m
—
Other financing
(102)
(546)n/m
—
Net change in cash
(145)
37n/m
—
Free cash flow (OCF − capex)
17
1,200+6958.8%
1,015
Where the cash went
Operating cash flow
1,483
3,392+128.7%
3,297
Reinvested in the business
2,185
2,198+0.6%
—
% of operating cash flow
147.3%
64.8%
Capex
1,466
2,192+49.5%
2,282
Acquisitions
719
6−99.2%
—
Free cash flow
17
1,200+6958.8%
1,015
YoY
+6958.8%
Returned to shareholders
677
900+32.9%
—
% of free cash flow
3982.4%
75.0%
Dividends
650
900+38.5%
—
Buybacks
27
0−100.0%
—
Change in total debt
—
178
—
Cash left over
—
472
—
FCF conversion (FCF ÷ net income)
5.3%
171.7%+166.3 pp
—
Owner earnings
—
1,070
—
Owner earnings margin
—
3.4%
—
Buyback yield
0.1%
—
—
Returns & ratios
ROIC (all capital)
1.9%
4.1%+2.2 pp
—
ROIC (operating)
2.1%
4.6%+2.5 pp
—
Net debt / EBITDA
5.16x
3.02x−2.14x
—
Debt / equity
0.78x
0.75x−0.03x
—
Cash conversion cycle (days)
77
51−25 d
—
ROE
1.8%
3.8%+2.0 pp
—
ROA
0.7%
1.5%+0.8 pp
—
ROCE
2.8%
4.5%+1.7 pp
—
NOPAT
574
1,253+118.4%
—
Invested capital (operating)
27,052
27,596+2.0%
—
Invested capital (all)
30,100
31,208+3.7%
—
Reinvestment rate
—
43.4%
—
Debtor days
71
50−21 d
—
Inventory days
77
54−23 d
—
Days payable
71
52−19 d
—
Net debt is 3.0x EBITDA (FY25).
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
8,003
7,580
7,712
8,031
vs year-ago quarter
Gross profit
1,569
1,382
1,268
1,399
Gross margin
19.6%
18.2%
16.4%
17.4%
Operating income
526
389
253
309
Net income
246
97
65
89
vs year-ago quarter
Net margin
3.1%
1.3%
0.8%
1.1%
EPS (diluted, $)
0.47
0.19
0.12
0.17
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
45,569
45,157
45,170
45,201
Cash & equivalents
851
892
674
677
Total debt
14,111
13,773
14,255
14,164
Shareholders’ equity
18,433
18,327
18,058
18,036
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
1,133
1,195
204
765
Capex
610
583
624
465
Free cash flow
523
612
(420)
300
vs year-ago quarter