Smurfit WestRock PLC (SW) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 2, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Jul 31, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SW SEC filings page.
Smurfit WestRock PLC (SW) reported $31.3B in revenue over the twelve months to Jun 30, 2026. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Rapid scale expansion has brought heavier capital intensity, elevated leverage, and slower conversion of operating profit into net income.
Revenue expansion from$12.1B in FY2023 to$31.2B in FY2025 coincided with operating margin falling from11.4% to5.5% ; scale arrived with a less efficient profit structure rather than simple fixed-cost absorption. In FY2025, financing costs reached$840M while net income was$699M , materially separating operating performance from shareholder earnings.
Total assets grew from
Cash conversion recovered in FY2025: operating cash flow reached
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Smurfit WestRock PLC's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Smurfit WestRock PLC has an operating margin of 5.5%, meaning the company retains $6 of operating profit per $100 of revenue. This results in a moderate score of 58/100, indicating healthy but not exceptional operating efficiency. This is up from 4.8% the prior year.
Smurfit WestRock PLC's revenue surged 47.7% year-over-year to $31.2B, reflecting rapid business expansion. This strong growth earns a score of 96/100.
Smurfit WestRock PLC has elevated debt relative to equity (D/E of 0.73), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 22/100, reflecting increased financial risk.
Smurfit WestRock PLC's current ratio of 1.48 indicates adequate short-term liquidity, earning a score of 40/100. The company can meet its near-term obligations, though with limited headroom.
Smurfit WestRock PLC has a free cash flow margin of 3.9%, earning a moderate score of 37/100. The company generates positive cash flow after capital investments, but with room for improvement.
Smurfit WestRock PLC's ROE of 3.8% shows moderate profitability relative to equity, earning a score of 49/100. This is up from 1.8% the prior year.
Smurfit WestRock PLC scores 1.52, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Smurfit WestRock PLC passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Smurfit WestRock PLC generates $4.85 in operating cash flow ($3.4B OCF vs $699.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Smurfit WestRock PLC earns $2.05 in operating income for every $1 of interest expense ($1.7B vs $840.0M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Earnings & Revenue
Smurfit WestRock PLC generated $8.0B in revenue in Q2 2026. This represents an increase of 1.1% from the same quarter a year earlier. Against the prior quarter it is up 4.1%.
Smurfit WestRock PLC's EBITDA was $987.0M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 14.2% from the same quarter a year earlier. Against the prior quarter it is up 0.6%.
Smurfit WestRock PLC reported $89.0M in net income in Q2 2026. This represents an increase of 417.9% from the same quarter a year earlier. Against the prior quarter it is up 36.9%.
Smurfit WestRock PLC earned $0.17 per diluted share (EPS) in Q2 2026. This represents an increase of 440.0% from the same quarter a year earlier. Against the prior quarter it is up 41.7%.
Cash & Balance Sheet
Smurfit WestRock PLC generated $300.0M in free cash flow in Q2 2026, representing cash available after capex. This represents a decrease of 2.3% from the same quarter a year earlier. Against the prior quarter it is up 171.4%.
Smurfit WestRock PLC held $677.0M in cash against $13.2B in long-term debt as of Q2 2026.
Smurfit WestRock PLC paid $0.45 per share in dividends in Q2 2026. This represents an increase of 4.7% from the same quarter a year earlier. It is unchanged from the prior quarter.
Margins & Returns
Smurfit WestRock PLC's gross margin was 17.4% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 1.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.0 percentage points.
Smurfit WestRock PLC's operating margin was 3.9% in Q2 2026, reflecting core business profitability. This is up 0.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.6 percentage points.
Smurfit WestRock PLC's net profit margin was 1.1% in Q2 2026, showing the share of revenue converted to profit. This is up 1.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.3 percentage points.
Smurfit WestRock PLC's ROE was 0.5% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 0.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.1 percentage points.
Capital Allocation
Smurfit WestRock PLC invested $465.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 10.9% from the same quarter a year earlier. Against the prior quarter it is down 25.5%.
Not reported for Q2 2026.
Not reported for Q2 2026.
SW Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $8.0B+1.1% | $7.7B+0.7% | $7.6B | $8.0B+4.3% | $7.9B | $7.7B | N/A | $7.7B+163.2% |
| Cost of Revenue | $6.6B+3.2% | $6.4B+6.0% | $6.2B | $6.4B+1.8% | $6.4B | $6.1B | N/A | $6.3B+190.9% |
| Gross Profit | $1.4B-7.7% | $1.3B-19.6% | $1.4B | $1.6B+16.2% | $1.5B | $1.6B | N/A | $1.4B+81.9% |
| SG&A Expenses | $970.0M+0.7% | $961.0M-1.2% | $920.0M | $963.0M-4.4% | $963.0M | $973.0M | N/A | $1.0B+171.4% |
| Operating Income | $309.0M+23.1% | $253.0M-54.2% | $389.0M | $526.0M+856.4% | $251.0M | $553.0M | N/A | $55.0M-84.5% |
| EBITDA | $987.0M+14.2% | $981.0M-15.1% | $1.1B | $1.2B+91.4% | $864.0M | $1.2B | N/A | $619.0M+23.6% |
| Interest Expense | $208.0M0.0% | $198.0M+1.5% | $233.0M | $204.0M-2.4% | $208.0M | $195.0M | N/A | $209.0M+354.3% |
| Income Tax | $40.0M-52.4% | $21.0M+162.5% | $77.0M | $91.0M+175.8% | $84.0M | $8.0M | N/A | $33.0M-54.8% |
| Net Income | $89.0M+417.9% | $65.0M-83.1% | $97.0M | $246.0M+264.0% | -$28.0M | $384.0M | N/A | -$150.0M-165.5% |
| EPS (Basic) | $0.17+440.0% | $0.12-83.8% | $0.19-40.6% | $0.47+256.7% | -$0.05-109.8% | $0.740.0% | $0.32+77.8% | -$0.30-133.7% |
| EPS (Diluted) | $0.17+440.0% | $0.12-83.6% | $0.19-40.6% | $0.47+256.7% | -$0.05-109.8% | $0.73 | $0.32 | -$0.30 |
| Diluted Shares (Avg) | 526M+0.8% | 526M0.0% | N/A | 526M+3.5% | 522M+100.8% | 526M | N/A | 508M |
Not reported in any period shown, so not listed: R&D Expenses.
SW Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $45.2B-1.2% | $45.2B+1.2% | $45.2B+3.2% | $45.6B+1.2% | $45.7B+170936302.4% | $44.6B+41341666566.7% | $43.8B+211.4% | $45.0B |
| Current Assets | $10.8B-1.5% | $10.6B-0.7% | $10.4B+3.8% | $10.9B+3.2% | $11.0B | $10.6B | $10.1B+120.0% | $10.5B |
| Cash & Equivalents | $677.0M-13.0% | $674.0M-15.4% | $892.0M+4.3% | $851.0M-10.5% | $778.0M+2907007.1% | $797.0M+737962863.0% | $855.0M-14.5% | $951.0M+30.5% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $3.6B-4.3% | $3.6B-2.4% | $3.7B+4.0% | $3.8B+5.5% | $3.8B | $3.7B | $3.5B+195.1% | $3.6B |
| Accounts Receivable | $4.9B+1.6% | $4.6B+2.1% | $4.3B+3.7% | $4.7B+1.2% | $4.8B | $4.5B | $4.1B+128.0% | $4.6B |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $7.2B-0.4% | $7.2B+3.1% | $7.2B+5.8% | $7.2B0.0% | $7.2B | $7.0B | $6.8B+140.0% | $7.2B |
| Total Liabilities | $27.1B-1.0% | $27.1B+1.2% | $26.8B+1.6% | $27.1B+0.3% | $27.4B+222942989.4% | $26.8B | $26.4B+234.8% | $27.0B |
| Current Liabilities | $7.5B-1.5% | $7.3B-1.8% | $7.1B-3.7% | $7.3B+3.1% | $7.6B | $7.4B | $7.3B+143.9% | $7.1B |
| Non-Current Liabilities | $19.7B-0.8% | $19.8B+2.4% | $19.7B+3.7% | $19.8B-0.7% | $19.8B | $19.3B | $19.0B+290.9% | $19.9B |
| Long-Term Debt | $13.2B-0.7% | $13.3B+2.8% | $13.4B+7.1% | $13.3B+1.1% | $13.3B | $12.9B | $12.5B+241.8% | $13.2B |
| Total Equity | $18.0B-1.4% | $18.1B+1.1% | $18.3B+5.6% | $18.4B+2.6% | $18.3B+126517670.7% | $17.9B+16540740640.7% | $17.4B+181.9% | $18.0B+201.1% |
| Retained Earnings | $2.2B-19.1% | $2.4B-20.9% | $2.7B-10.0% | $2.8B-12.3% | $2.8B+22528555.3% | $3.0B | $3.0B-16.2% | $3.2B |
SW Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $765.0M-7.7% | $204.0M-13.2% | $1.2B+53.0% | $1.1B+254.1% | $829.0M | $235.0M | $781.0M+27.8% | $320.0M-66.2% |
| Depreciation & Amortization | $678.0M+10.6% | $728.0M+20.7% | $675.0M+14.0% | $659.0M+16.8% | $613.0M | $603.0M | $592.0M+294.7% | $564.0M+283.7% |
| Stock-Based Compensation | N/A | $28.0M-34.9% | N/A | N/A | N/A | $43.0M+186.7% | N/A | $123.0M+1657.1% |
| Capital Expenditures | $465.0M-10.9% | $624.0M+30.8% | $583.0M+2.5% | $610.0M+19.1% | $522.0M | $477.0M | $569.0M+112.3% | $512.0M |
| Free Cash Flow | $300.0M-2.3% | -$420.0M-73.6% | $612.0M+188.7% | $523.0M+372.4% | $307.0M | -$242.0M | $212.0M-38.2% | -$192.0M |
| Investing Cash Flow | -$448.0M+13.8% | -$627.0M-31.7% | -$579.0M-11.6% | -$568.0M+52.1% | -$520.0M | -$476.0M | -$519.0M-104.3% | -$1.2B-75.0% |
| Financing Cash Flow | -$318.0M+10.4% | $209.0M+38.4% | -$624.0M-138.2% | -$470.0M+68.9% | -$355.0M | $151.0M | -$262.0M-159.4% | -$1.5B-300.3% |
| Dividends Paid | $237.0M+5.3% | $237.0M+5.3% | $225.0M+43.3% | $225.0M+42.4% | $225.0M | $225.0M | $157.0M+70.7% | $158.0M |
| Share Buybacks | N/A | N/A | $0 | $0 | $0 | $0 | $0 | $0 |
SW Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 17.4%-1.7pp | 16.4%-4.2pp | 18.2% | 19.6%+2.0pp | 19.1% | 20.6% | N/A | 17.6%-7.9pp |
| Operating Margin | 3.9%+0.7pp | 3.3%-3.9pp | 5.1% | 6.6%+5.8pp | 3.2% | 7.2% | N/A | 0.7%-11.4pp |
| Net Margin | 1.1%+1.5pp | 0.8%-4.2pp | 1.3% | 3.1%+5.0pp | -0.4% | 5.0% | N/A | -2.0%-9.8pp |
| Return on Equity | 0.5%+0.6pp | 0.4%-1.8pp | 0.5% | 1.3%+2.2pp | -0.1% | 2.1% | N/A | -0.8%-4.7pp |
| Return on Assets | 0.2%+0.3pp | 0.1%-0.7pp | 0.2% | 0.5%+0.9pp | -0.1% | 0.9% | N/A | -0.3% |
| Current Ratio | 1.450.0x | 1.440.0x | 1.48+0.1x | 1.480.0x | 1.45 | 1.43 | 1.37-0.1x | 1.48 |
| Debt-to-Equity | 0.730.0x | 0.740.0x | 0.730.0x | 0.720.0x | 0.73-0.1x | 0.72+0.7x | 0.72+0.1x | 0.73 |
| Asset Turnover | 0.180.0x | 0.170.0x | 0.17 | 0.180.0x | 0.17 | 0.17 | N/A | 0.17 |
| FCF Margin | 3.7%-0.1pp | -5.5%-2.3pp | 8.1% | 6.5%+9.0pp | 3.9% | -3.2% | N/A | -2.5% |
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Smurfit WestRock PLC SW | FY2025 | $31.2B | $699.0M | 2.2% | $23.8B | 50/100 |
| International Paper Co IP | FY2025 | $23.6B | -$3.5B | -14.9% | $20.1B | 34/100 |
| Packaging Corp Amer PKG | FY2025 | $9.0B | $774.1M | 8.6% | $20.8B | 64/100 |
| Amcor Plc AMCR | FY2026 | $23.5B | $1.1B | 4.7% | $21.2B | 52/100 |
| Avery Dennison Corp AVY | FY2025 | $8.9B | $688.0M | 7.8% | $13.2B | 27/100 |
| Ball BALL | FY2025 | $13.2B | $915.0M | 7.0% | $16.7B | 51/100 |
Where Smurfit WestRock PLC Ranks
Frequently Asked Questions
What is Smurfit WestRock PLC's annual revenue?
Smurfit WestRock PLC (SW) reported $31.2B in total revenue for fiscal year 2025. This represents a 47.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Smurfit WestRock PLC's revenue growing?
Smurfit WestRock PLC (SW) revenue grew by 47.7% year-over-year, from $21.1B to $31.2B in fiscal year 2025.
Is Smurfit WestRock PLC profitable?
Yes, Smurfit WestRock PLC (SW) reported a net income of $699.0M in fiscal year 2025, with a net profit margin of 2.2%.
What is Smurfit WestRock PLC's EBITDA?
Smurfit WestRock PLC (SW) had EBITDA of $4.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Smurfit WestRock PLC have?
As of fiscal year 2025, Smurfit WestRock PLC (SW) had $892.0M in cash and equivalents against $13.4B in long-term debt.
What is Smurfit WestRock PLC's gross margin?
Smurfit WestRock PLC (SW) had a gross margin of 19.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Smurfit WestRock PLC's operating margin?
Smurfit WestRock PLC (SW) had an operating margin of 5.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Smurfit WestRock PLC's net profit margin?
Smurfit WestRock PLC (SW) had a net profit margin of 2.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Smurfit WestRock PLC pay dividends?
Yes, Smurfit WestRock PLC (SW) paid $1.72 per share in dividends during fiscal year 2025.
What is Smurfit WestRock PLC's return on equity (ROE)?
Smurfit WestRock PLC (SW) has a return on equity of 3.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Smurfit WestRock PLC's free cash flow?
Smurfit WestRock PLC (SW) generated $1.2B in free cash flow during fiscal year 2025. This represents a 6958.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Smurfit WestRock PLC's operating cash flow?
Smurfit WestRock PLC (SW) generated $3.4B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Smurfit WestRock PLC's total assets?
Smurfit WestRock PLC (SW) had $45.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Smurfit WestRock PLC's capital expenditures?
Smurfit WestRock PLC (SW) invested $2.2B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Smurfit WestRock PLC's current ratio?
Smurfit WestRock PLC (SW) had a current ratio of 1.48 as of fiscal year 2025, which is considered adequate.
What is Smurfit WestRock PLC's debt-to-equity ratio?
Smurfit WestRock PLC (SW) had a debt-to-equity ratio of 0.73 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Smurfit WestRock PLC's return on assets (ROA)?
Smurfit WestRock PLC (SW) had a return on assets of 1.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Smurfit WestRock PLC's P/E ratio?
Smurfit WestRock PLC (SW) trades at 47.9x earnings, its market capitalization divided by net income of $497.0M net income, trailing 12 months to June 30, 2026. The market capitalization is $23.8B as of Sep 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Smurfit WestRock PLC's price-to-sales ratio?
Smurfit WestRock PLC (SW) trades at 0.8x sales, its market capitalization divided by revenue of $31.3B revenue, trailing 12 months to June 30, 2026. The market capitalization is $23.8B as of Sep 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Smurfit WestRock PLC's Altman Z-Score?
Smurfit WestRock PLC (SW) has an Altman Z-Score of 1.52, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Smurfit WestRock PLC's Piotroski F-Score?
Smurfit WestRock PLC (SW) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Smurfit WestRock PLC's earnings high quality?
Smurfit WestRock PLC (SW) has an earnings quality ratio of 4.85x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Smurfit WestRock PLC cover its interest payments?
Smurfit WestRock PLC (SW) has an interest coverage ratio of 2.05x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Smurfit WestRock PLC?
Smurfit WestRock PLC (SW) scores 50 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.