What is Smurfit WestRock PLC's earnings per share (EPS)?

Smurfit WestRock PLC (SW) reported diluted earnings per share of $1.33 for fiscal year 2025. This represents a 62.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Smurfit WestRock PLC Financials

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows Smurfit WestRock PLC (SW) financial statements, including the 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).

Rhea AI SW FY2025 2026-05-01

Scale expanded faster than margins, leaving FY2025 a bigger but more capital- and debt-dependent operating base.

In FY2025, operating cash flow reached $3.4B while net income was only $699M, showing that non-cash charges now depress accounting profit far more than cash generation. That gap matters because capex climbed to $2.2B, yet free cash flow still recovered to $1.2B; compared with FY2024, the business looks cash-generative again even though margins remain thin.

The business changed shape after FY2023: revenue moved from $12.1B to $31.2B, but gross margin stayed below prior levels, which points to a larger company with a structurally lower-margin mix rather than simple fixed-cost absorption. At the same time, interest expense rose to $840M from $170M, so more of the operating result is now claimed by financing costs before it reaches shareholders.

Near-term liquidity looks workable, with a current ratio of 1.5x and cash of $892M; the constraint is not day-to-day funding so much as sustaining a very large asset base. Depreciation and amortization of $2.6B against capex of $2.2B suggests reinvestment needs are heavy but not obviously outrunning wear-and-tear, which is consistent with an asset-intensive operator rather than an asset-light cash machine.

Financial Health Signals

Financial Health Score 51/100

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.

Profitability

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 59/100, indicating healthy but not exceptional operating efficiency. This is up from 4.8% the prior year.

Growth

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.

Leverage

Smurfit WestRock PLC has elevated debt relative to equity (D/E of 0.72), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 22/100, reflecting increased financial risk.

Liquidity

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.

Cash Flow

Smurfit WestRock PLC has a free cash flow margin of 3.9%, earning a moderate score of 40/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Smurfit WestRock PLC's ROE of 3.8% shows moderate profitability relative to equity, earning a score of 50/100. This is up from 1.8% the prior year.

Altman Z-Score Distress

1.49

Smurfit WestRock PLC scores 1.49, 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.

Piotroski F-Score Strong

7/9

Smurfit WestRock PLC passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed

4.85x

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.

Interest Coverage Adequate

2.0x

Smurfit WestRock PLC earns $2.0 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

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Earnings & Revenue

Revenue

$31.2B

YoY+47.7%

Smurfit WestRock PLC generated $31.2B in revenue in fiscal year 2025. This represents an increase of 47.7% from the prior year.

EBITDA

$4.3B

YoY+72.8%

Smurfit WestRock PLC's EBITDA was $4.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 72.8% from the prior year.

Net Income

$699.0M

YoY+119.1%

Smurfit WestRock PLC reported $699.0M in net income in fiscal year 2025. This represents an increase of 119.1% from the prior year.

EPS (Diluted)

$1.33

YoY+62.2%

Smurfit WestRock PLC earned $1.33 per diluted share (EPS) in fiscal year 2025. This represents an increase of 62.2% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$1.2B

YoY+6958.8%

Smurfit WestRock PLC generated $1.2B in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 6958.8% from the prior year.

Cash & Debt

$892.0M

YoY+4.3%

Smurfit WestRock PLC held $892.0M in cash against $13.2B in long-term debt as of fiscal year 2025.

Dividends Per Share

$1.72

YoY-9.0%

Smurfit WestRock PLC paid $1.72 per share in dividends in fiscal year 2025. This represents a decrease of 9.0% from the prior year.

Shares Outstanding

522M

YoY+0.4%

Smurfit WestRock PLC had 522M shares outstanding in fiscal year 2025. This represents an increase of 0.4% from the prior year.

Margins & Returns

Gross Margin

19.4%

YoY-0.5pp

Smurfit WestRock PLC's gross margin was 19.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.5 percentage points from the prior year.

Operating Margin

5.5%

YoY+0.7pp

Smurfit WestRock PLC's operating margin was 5.5% in fiscal year 2025, reflecting core business profitability. This is up 0.7 percentage points from the prior year.

Net Margin

2.2%

YoY+0.7pp

Smurfit WestRock PLC's net profit margin was 2.2% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.7 percentage points from the prior year.

Return on Equity

3.8%

YoY+2.0pp

Smurfit WestRock PLC's ROE was 3.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 2.0 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

YoY-100.0%

Smurfit WestRock PLC spent $0 on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.

Capital Expenditures

$2.2B

YoY+49.5%

Smurfit WestRock PLC invested $2.2B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 49.5% from the prior year.

SW Income Statement

Metric	FY25	FY24	FY23	FY22
Revenue	$31.2B+47.7%	$21.1B+74.6%	$12.1B-10.5%	$13.5B
Cost of Revenue	$25.1B+48.6%	$16.9B+87.1%	$9.0B-11.7%	$10.2B
Gross Profit	$6.0B+44.1%	$4.2B+37.4%	$3.1B-6.7%	$3.3B
R&D Expenses	N/A	N/A	N/A	N/A
SG&A Expenses	$3.8B+39.5%	$2.7B+74.1%	$1.6B+1.9%	$1.5B
Operating Income	$1.7B+70.7%	$1.0B-26.6%	$1.4B-11.9%	$1.6B
Interest Expense	$840.0M+60.0%	$525.0M+208.8%	$170.0M+14.9%	$148.0M
Income Tax	$260.0M+7.9%	$241.0M-22.8%	$312.0M-20.2%	$391.0M
Net Income	$699.0M+119.1%	$319.0M-61.3%	$825.0M-20.2%	$1.0B
EPS (Diluted)	$1.33+62.2%	$0.82-74.1%	$3.17-19.9%	$3.96

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$7.7B+1.7%	$7.6B-5.3%	$8.0B+0.8%	$7.9B+3.7%	$7.7B	N/A	$7.7B	N/A
Cost of Revenue	$6.4B+4.0%	$6.2B-3.7%	$6.4B+0.1%	$6.4B+5.7%	$6.1B	N/A	$6.3B	N/A
Gross Profit	$1.3B-8.2%	$1.4B-11.9%	$1.6B+3.6%	$1.5B-3.9%	$1.6B	N/A	$1.4B	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$961.0M+4.5%	$920.0M-4.5%	$963.0M0.0%	$963.0M-1.0%	$973.0M	N/A	$1.0B	N/A
Operating Income	$253.0M-35.0%	$389.0M-26.0%	$526.0M+109.6%	$251.0M-54.6%	$553.0M	N/A	$55.0M	N/A
Interest Expense	$198.0M-15.0%	$233.0M+14.2%	$204.0M-1.9%	$208.0M+6.7%	$195.0M	N/A	$209.0M	N/A
Income Tax	$21.0M-72.7%	$77.0M-15.4%	$91.0M+8.3%	$84.0M+950.0%	$8.0M	N/A	$33.0M	N/A
Net Income	$65.0M-33.0%	$97.0M-60.6%	$246.0M+978.6%	-$28.0M-107.3%	$384.0M	N/A	-$150.0M	N/A
EPS (Diluted)	$0.12	N/A	$0.47+1040.0%	$-0.05-106.8%	$0.73	N/A	$-0.30	$0.51

SW Balance Sheet

Metric	FY25	FY24	FY23	FY22
Total Assets	$45.2B+3.2%	$43.8B+211.4%	$14.1B	N/A
Current Assets	$10.4B+3.8%	$10.1B+120.0%	$4.6B	N/A
Cash & Equivalents	$892.0M+4.3%	$855.0M-14.5%	$1.0B+18.9%	$841.0M
Inventory	$3.7B+4.0%	$3.5B+195.1%	$1.2B	N/A
Accounts Receivable	$4.3B+3.7%	$4.1B+128.0%	$1.8B	N/A
Goodwill	$7.2B+5.8%	$6.8B+140.0%	$2.8B+4.4%	$2.7B
Total Liabilities	$26.8B+1.6%	$26.4B+234.8%	$7.9B	N/A
Current Liabilities	$7.1B-3.7%	$7.3B+143.9%	$3.0B	N/A
Long-Term Debt	$13.2B+1.3%	$13.1B+255.8%	$3.7B	N/A
Total Equity	$18.3B+5.6%	$17.4B+181.9%	$6.2B+5755140086.9%	$107
Retained Earnings	$2.7B-10.0%	$3.0B-16.2%	$3.5B	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$45.2B0.0%	$45.2B-0.9%	$45.6B-0.4%	$45.7B+2.5%	$44.6B+2.0%	$43.8B-2.8%	$45.0B+168257130.4%	$27K
Current Assets	$10.6B+1.1%	$10.4B-4.1%	$10.9B-0.9%	$11.0B+3.3%	$10.6B+5.7%	$10.1B-4.6%	$10.5B	N/A
Cash & Equivalents	$674.0M-24.4%	$892.0M+4.8%	$851.0M+9.4%	$778.0M-2.4%	$797.0M-6.8%	$855.0M-10.1%	$951.0M+3553446.1%	$27K
Inventory	$3.6B-3.0%	$3.7B-2.3%	$3.8B+0.2%	$3.8B+2.8%	$3.7B+3.4%	$3.5B-1.0%	$3.6B	N/A
Accounts Receivable	$4.6B+8.8%	$4.3B-8.6%	$4.7B-3.6%	$4.8B+6.5%	$4.5B+10.5%	$4.1B-10.8%	$4.6B	N/A
Goodwill	$7.2B-0.4%	$7.2B+0.1%	$7.2B+0.1%	$7.2B+3.4%	$7.0B+2.2%	$6.8B-5.4%	$7.2B	N/A
Total Liabilities	$27.1B+1.1%	$26.8B-1.1%	$27.1B-1.1%	$27.4B+2.5%	$26.8B+1.5%	$26.4B-2.5%	$27.0B+219812908.1%	$12K
Current Liabilities	$7.3B+3.5%	$7.1B-3.8%	$7.3B-3.2%	$7.6B+2.0%	$7.4B+1.5%	$7.3B+2.9%	$7.1B	N/A
Long-Term Debt	$13.3B+0.4%	$13.2B-0.7%	$13.3B-0.1%	$13.3B+3.2%	$12.9B-1.0%	$13.1B-0.9%	$13.2B	N/A
Total Equity	$18.1B-1.5%	$18.3B-0.6%	$18.4B+0.7%	$18.3B+2.4%	$17.9B+2.9%	$17.4B-3.4%	$18.0B+124221999.3%	$14K
Retained Earnings	$2.4B-9.7%	$2.7B-4.7%	$2.8B+0.6%	$2.8B-8.5%	$3.0B+2.7%	$3.0B-7.2%	$3.2B+25837498.4%	-$12K

SW Cash Flow Statement

Metric	FY25	FY24	FY23	FY22
Operating Cash Flow	$3.4B+128.7%	$1.5B-4.9%	$1.6B+8.8%	$1.4B
Capital Expenditures	$2.2B+49.5%	$1.5B+57.8%	$929.0M-0.1%	$930.0M
Free Cash Flow	$1.2B+6958.8%	$17.0M-97.3%	$630.0M+25.2%	$503.0M
Investing Cash Flow	-$2.1B-1.4%	-$2.1B-127.1%	-$931.0M+8.7%	-$1.0B
Financing Cash Flow	-$1.3B-313.8%	$607.0M+226.7%	-$479.0M-11.1%	-$431.0M
Dividends Paid	$900.0M+38.5%	$650.0M+66.2%	$391.0M+12.0%	$349.0M
Share Buybacks	$0-100.0%	$27.0M-10.0%	$30.0M-6.3%	$32.0M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	$204.0M-82.9%	$1.2B+5.5%	$1.1B+36.7%	$829.0M+252.8%	$235.0M-69.9%	$781.0M+144.1%	$320.0M	N/A
Capital Expenditures	$624.0M+7.0%	$583.0M-4.4%	$610.0M+16.9%	$522.0M+9.4%	$477.0M-16.2%	$569.0M+11.1%	$512.0M	N/A
Free Cash Flow	-$420.0M-168.6%	$612.0M+17.0%	$523.0M+70.4%	$307.0M+226.9%	-$242.0M-214.2%	$212.0M+210.4%	-$192.0M	N/A
Investing Cash Flow	-$627.0M-8.3%	-$579.0M-1.9%	-$568.0M-9.2%	-$520.0M-9.2%	-$476.0M+8.3%	-$519.0M+56.2%	-$1.2B	N/A
Financing Cash Flow	$209.0M+133.5%	-$624.0M-32.8%	-$470.0M-32.4%	-$355.0M-335.1%	$151.0M+157.6%	-$262.0M+82.7%	-$1.5B	N/A
Dividends Paid	$237.0M+5.3%	$225.0M0.0%	$225.0M0.0%	$225.0M0.0%	$225.0M+43.3%	$157.0M-0.6%	$158.0M	N/A
Share Buybacks	N/A	$0	$0	$0	$0	$0	$0	$0

SW Financial Ratios

Metric	FY25	FY24	FY23	FY22
Gross Margin	19.4%-0.5pp	19.9%-5.4pp	25.3%+1.0pp	24.2%
Operating Margin	5.5%+0.7pp	4.8%-6.6pp	11.3%-0.2pp	11.5%
Net Margin	2.2%+0.7pp	1.5%-5.3pp	6.8%-0.8pp	7.6%
Return on Equity	3.8%+2.0pp	1.8%-11.6pp	13.4%-99999986.6pp	100000000.0%
Return on Assets	1.6%+0.8pp	0.7%-5.1pp	5.9%	N/A
Current Ratio	1.48+0.1	1.37-0.1	1.52	N/A
Debt-to-Equity	0.72-0.0	0.75+0.2	0.60	N/A
FCF Margin	3.9%+3.8pp	0.1%-5.1pp	5.2%+1.5pp	3.7%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	16.4%-1.8pp	18.2%-1.4pp	19.6%+0.5pp	19.1%-1.5pp	20.6%	N/A	17.6%	N/A
Operating Margin	3.3%-1.8pp	5.1%-1.4pp	6.6%+3.4pp	3.2%-4.1pp	7.2%	N/A	0.7%	N/A
Net Margin	0.8%-0.4pp	1.3%-1.8pp	3.1%+3.4pp	-0.4%-5.4pp	5.0%	N/A	-2.0%	N/A
Return on Equity	0.4%-0.2pp	0.5%-0.8pp	1.3%+1.5pp	-0.1%-2.3pp	2.1%	N/A	-0.8%	N/A
Return on Assets	0.1%-0.1pp	0.2%-0.3pp	0.5%+0.6pp	-0.1%-0.9pp	0.9%	N/A	-0.3%	N/A
Current Ratio	1.44-0.0	1.480.0	1.48+0.0	1.45+0.0	1.43+0.1	1.37-0.1	1.48	N/A
Debt-to-Equity	0.74+0.0	0.720.0	0.720.0	0.730.0	0.72-0.0	0.75+0.0	0.73-0.1	0.85
FCF Margin	-5.5%-13.5pp	8.1%+1.5pp	6.5%+2.7pp	3.9%+7.0pp	-3.2%	N/A	-2.5%	N/A

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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 $13.2B 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.

How many shares does Smurfit WestRock PLC have outstanding?

Smurfit WestRock PLC (SW) had 522M shares outstanding as of fiscal year 2025.

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 0.72 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 Altman Z-Score?

Smurfit WestRock PLC (SW) has an Altman Z-Score of 1.49, 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 7 out of 9, indicating strong 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 2.0x, 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 51 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.