Smurfit WestRock Plc (SW) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.42	$0.35	-16.7%	—	$8B	—
Q1 26	$0.4	$0.33	-17.5%	—	$7.7B	—
Q4 25	$0.5	$0.28	-44.0%	—	$7.6B	—
Q3 25	$0.72	$0.58	-19.4%	—	$8B	—
Q2 25	$0.59	$0.51	-13.6%	—	$7.9B	—
Q1 25	$0.67	$0.83	+23.9%	—	$7.7B	—
Q4 24	$0.59	$0.42	-28.8%	—	$7.5B	—
Q3 24	$0.74	$0.73	-1.4%	—	$7.7B	—
Q2 24	$0.71	$0.74	+4.2%	—	$0	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$1.34	—	—	$31.2B	—
FY24	—	$0.83	—	—	$21.1B	—
FY23	—	$3.19	—	—	$13.4B	—
FY22	—	$3.92	—	—	$13.7B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$8.6B	$10.3B	$10.2B	$10.1B	$10.5B	$11.4B	$13.7B	$13.4B	$21.1B	$31.2B
YoY change	-3.21%	+19.7%	-0.37%	-0.96%	+3.51%	+9.07%	+20.1%	-2.34%	+57.3%	+47.7%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	8.6B	10.3B	10.2B	10.1B	10.5B	11.4B	13.7B	13.4B	21.1B	31.2B
Cost of revenue	6B	7.2B	6.9B	6.8B	7B	7.9B	9.4B	10B	16.9B	25.1B
Gross profit	2.6B	3.1B	3.4B	3.4B	3.5B	3.5B	4.4B	3.4B	4.2B	6B
Gross margin	30.3%	29.8%	33.1%	33.2%	33.7%	30.6%	31.7%	25.3%	19.9%	19.4%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	1.7B	2.1B	2.1B	2.2B	2.4B	2.3B	2.6B	1.8B	2.8B	3.8B
Operating expenses	1.7B	2.1B	2.1B	2.2B	2.4B	2.3B	2.8B	1.8B	2.8B	3.8B
Operating income	872.9M	970.6M	1.3B	1.2B	1.1B	1.2B	1.8B	1.6B	1.4B	2.2B
Operating margin	10.2%	9.45%	12.4%	11.7%	10.8%	10.6%	13%	12%	6.64%	7.13%
Non-operating income, net	7.1M	-45M	-1.5B	-216.3M	-43.7M	-38.1M	-226.7M	-173M	-444M	-536M
Pretax income	687.8M	691M	-462.1M	758.4M	920M	1B	1.4B	1.3B	560M	959M
Income tax	206.1M	183.6M	268.8M	216.2M	247.2M	264.9M	373.2M	346.3M	241M	260M
Net income	481.7M	507.5M	-731M	542.2M	672.8M	768.8M	1B	916.8M	319M	699M
Net margin	5.61%	4.94%	-7.14%	5.35%	6.41%	6.72%	7.37%	6.83%	1.51%	2.24%
EBITDA	1.3B	1.5B	1.7B	1.8B	1.8B	1.8B	2.5B	2.2B	2.9B	4.9B
EPS	1.99	2.13	-3.13	2.26	2.8	2.99	3.92	3.19	0.83	1.34
Diluted EPS	1.97	2.11	-3.13	2.24	2.78	2.96	3.88	3.17	0.82	1.33

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q2 23	Q3 23	Q4 23	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	0	2.9B	3.2B	0	7.7B	7.5B	7.7B	7.9B	8B	7.6B	7.7B	8B
Cost of revenue	—	2.2B	1.4B	—	6.3B	6.1B	6.1B	6.4B	6.4B	6.2B	6.4B	6.6B
Gross profit	—	742M	1.8B	—	1.4B	1.4B	1.6B	1.5B	1.6B	1.4B	1.3B	1.4B
Gross margin	—	25.5%	56.8%	—	17.6%	19.1%	20.6%	19.1%	19.6%	18.2%	16.4%	17.4%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	0	371M	1.5B	12.3K	1B	996M	988M	963M	963M	920M	961M	970M
Operating expenses	0	371M	1.5B	12.3K	1B	996M	988M	963M	963M	920M	961M	970M
Operating income	0	371M	341.9M	-12.3K	322M	446M	589M	552M	606M	462M	307M	429M
Operating margin	—	12.7%	10.6%	—	4.2%	5.92%	7.69%	6.95%	7.57%	6.09%	3.98%	5.34%
Non-operating income, net	—	-30M	-156.1M	—	-272M	-50M	-32M	-312M	-93M	-84M	-57M	-122M
Pretax income	0	302M	131.2M	-12.3K	-117M	223M	390M	58M	336M	175M	84M	128M
Income tax	0	73M	69.2M	0	33M	77M	8M	84M	91M	77M	21M	40M
Net income	0	229M	62M	-12.3K	-150M	146M	382M	-26M	245M	98M	63M	88M
Net margin	—	7.86%	1.92%	—	-1.96%	1.94%	4.99%	-0.33%	3.06%	1.29%	0.82%	1.1%
EBITDA	0	365M	677.2M	-12.3K	923M	1.1B	1.2B	1.2B	1.3B	1.2B	1.1B	1.1B
EPS	0	0.89	—	0.51	-0.3	0.28	0.74	-0.05	0.47	0.19	0.12	0.17
Diluted EPS	0	0.88	—	0.51	-0.3	0.28	0.73	-0.05	0.47	0.18	0.12	0.17

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	—	—	—	—	—	—	—	—	23.6B
Enterprise value	—	—	—	—	—	—	—	—	—	—	37.8B
Shares outstanding	225.8M	225.8M	226.7M	226.7M	229.6M	246.9M	247.9M	258M	384.3M	522.3M	522.3M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	—	—	—	—	—	—	—	49.4
P/S	—	—	—	—	—	—	—	—	—	—	0.78
P/B	—	—	—	—	—	—	—	—	—	—	1.35
EV/EBITDA	—	—	—	—	—	—	—	—	—	—	8.27
EV/Sales	—	—	—	—	—	—	—	—	—	—	1.21
Earnings yield	—	—	—	—	—	—	—	—	—	—	2.03%
FCF yield	—	—	—	—	—	—	—	—	—	—	5.14%
PEG	—	—	—	—	—	—	—	—	—	—	-0.11

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	30.3%	29.8%	33.1%	33.2%	33.7%	30.6%	31.7%	25.3%	19.9%	19.4%	17.4%
Operating margin	10.2%	9.45%	12.4%	11.7%	10.8%	10.6%	13%	12%	6.64%	7.13%	5.47%
Net margin	5.61%	4.94%	-7.14%	5.35%	6.41%	6.72%	7.37%	6.83%	1.51%	2.24%	1.59%
ROE	18.3%	15.9%	-22.1%	16.2%	14.5%	15.5%	18.8%	13.4%	1.83%	3.81%	2.71%
ROA	5.17%	4.7%	-6.73%	4.88%	5.32%	5.79%	7.57%	5.88%	0.73%	1.55%	2.62%
ROIC	10.7%	10.9%	18.3%	11.7%	10.9%	11%	15.1%	11.8%	2.65%	5.19%	3.91%
Return on tangible assets	11.7%	10.2%	-14.8%	10.3%	10.5%	10.8%	13.2%	10.4%	1.14%	2.44%	1.71%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.42	1.17	1.39	1.21	1.46	1.44	1.49	1.52	1.37	1.48	1.45
Quick ratio	1.01	0.84	0.99	0.84	1.11	1.07	1.08	1.12	0.89	0.95	0.96
Debt / equity	1.35	1.26	1.22	1.23	0.87	0.85	0.75	0.61	0.78	0.75	0.78
Debt / assets	0.38	0.37	0.37	0.37	0.32	0.32	0.3	0.27	0.31	0.31	0.31
Net debt / EBITDA	2.39	2.32	2.05	2.17	1.61	1.77	1.3	1.4	4.33	2.65	2.93
Interest coverage	4.52	3.92	-1.22	4.6	6.34	8.13	9.18	7.69	2.07	2.14	1.89
Effective tax rate	30%	26.6%	0%	28.5%	26.9%	25.6%	26.9%	27.4%	43%	27.1%	31.7%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	38	45.5	45.1	44.7	45.7	46.3	55.4	52	54.9	59.7	59.9
EPS (basic)	1.99	2.13	-3.13	2.26	2.8	2.99	3.92	3.19	0.83	1.34	1.34
EPS (diluted)	1.97	2.11	-3.13	2.24	2.78	2.96	3.88	3.17	0.82	1.33	0.94
Book value per share	11.7	14.1	14.6	14.8	20.3	20.1	21.8	26.6	45.2	35.1	34.4
FCF per share	1.37	1.51	2.42	2.62	3.93	1.7	2.43	2.71	0.04	2.3	1.94
Cash per share	2.03	2.82	2.05	0.93	4.77	3.98	3.36	4.3	2.22	1.71	1.29
Capex per share	1.93	2.27	2.63	2.99	2.61	2.65	3.73	0.07	0.16	4.2	4.36

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	5.09%	5%	5.82%	6.69%	5.72%	5.72%	6.72%	0.14%	0.29%	7.03%	7.28%
Capex / operating cash flow	40.7%	41.1%	37.8%	38%	32.7%	70.8%	51.1%	1.09%	4.14%	64.6%	69.2%
Payout ratio	36.2%	45.2%	-33.3%	49.2%	47.5%	44.5%	35.1%	47.3%	203.8%	128.8%	187.5%
Dividend yield	—	—	—	—	—	—	—	—	—	—	4.07%

Yield

4.07%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.452

ex-dividend Aug 14, 2026

Payout ratio

188%

of earnings

Dividend growth

1 year

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 14, 2026	$0.452
May 15, 2026	$0.452
Feb 17, 2026	$0.452
Aug 15, 2025	$0.431
May 16, 2025	$0.431
Feb 14, 2025	$0.4308
Nov 15, 2024	$0.3025
Aug 15, 2024	$0.3025

Period	Q2 23	Q3 23	Q4 23	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$0	$2.9B	$3.2B	$0	$7.7B	$7.5B	$7.7B	$7.9B	$8B	$7.6B	$7.7B	$8B
YoY change	—	—	—	0%	+163.2%	+133.5%	—	+InfinityT%	+4.33%	+0.54%	+0.73%	+1.15%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	458.5M	635.8M	465.6M	211.7M	1.1B	983.9M	833.3M	1.1B	855M	892M
Receivables	1.4B	1.6B	1.6B	1.6B	1.6B	2B	2B	2B	4.1B	4.3B
Inventory	829.8M	1B	981.5M	929.7M	964.3M	1.2B	1.3B	1.3B	3.5B	3.7B
Total current assets	2.9B	3.6B	3.4B	3B	4B	4.6B	4.8B	5.1B	10.1B	10.4B
Property, plant & equipment	3.4B	3.9B	4.1B	4.8B	5.1B	5.2B	5.3B	6.6B	22.7B	23.2B
Goodwill & intangibles	5.2B	5.8B	5.9B	5.9B	6.3B	6.2B	5.7B	6.8B	15.9B	16.6B
Total assets	9.3B	10.8B	10.9B	11.1B	12.7B	13.3B	13.4B	15.6B	43.8B	45.2B
Accounts payable	1.1B	1.3B	1.2B	1.1B	1.2B	1.6B	1.5B	1.9B	3.3B	3.6B
Short-term debt	144.1M	807.4M	191M	207.2M	189.4M	186.8M	193M	86.6M	1.1B	346M
Total current liabilities	2B	3B	2.4B	2.5B	2.7B	3.2B	3.2B	3.3B	7.3B	7.1B
Long-term debt	3.4B	3.2B	3.9B	3.9B	3.8B	4.1B	3.9B	4.1B	12.5B	13.4B
Total liabilities	6.7B	7.6B	7.6B	7.8B	8B	8.3B	8B	8.7B	26.4B	26.8B
Shareholders' equity	2.6B	3.2B	3.3B	3.4B	4.7B	5B	5.4B	6.9B	17.4B	18.4B
Total debt	3.6B	4B	4B	4.1B	4B	4.3B	4.1B	4.2B	13.6B	13.8B
Net debt	3.1B	3.4B	3.6B	3.9B	2.9B	3.3B	3.2B	3B	12.7B	12.9B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q2 19	Q2 23	Q4 23	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	266.1M	723.8M	1.1B	26.8K	951M	855M	797M	778M	851M	892M	674M	677M
Receivables	2.1B	—	2B	—	—	—	—	—	4.7B	4.3B	4.6B	4.9B
Inventory	985.8M	—	1.3B	—	—	—	—	—	3.8B	3.7B	3.6B	3.6B
Total current assets	3.4B	—	5.1B	—	—	—	—	—	10.9B	10.4B	10.6B	10.8B
Property, plant & equipment	4.6B	—	6.6B	—	—	—	—	—	23.1B	23.2B	22.9B	22.7B
Goodwill & intangibles	3B	—	6.8B	—	—	—	—	—	16.6B	16.6B	16.4B	16.4B
Total assets	11.4B	—	15.6B	—	—	—	—	—	45.6B	45.2B	45.2B	45.2B
Accounts payable	2.1B	—	1.9B	—	—	—	—	—	3.3B	3.6B	3.3B	3.5B
Short-term debt	687.9M	—	86.6M	—	—	—	—	—	798M	346M	980M	931M
Total current liabilities	2.9B	—	3.3B	—	—	—	—	—	7.3B	7.1B	7.3B	7.5B
Long-term debt	3.9B	—	4.1B	—	—	—	—	—	13.3B	13.4B	13.3B	13.2B
Total liabilities	8.1B	—	8.7B	—	—	—	—	—	27.1B	26.8B	27.1B	27.1B
Shareholders' equity	3.3B	—	6.9B	—	—	—	—	—	18.5B	18.4B	18.1B	18.1B
Total debt	4.5B	—	4.2B	—	—	—	—	—	14.1B	13.8B	14.3B	14.2B
Net debt	4.3B	—	3B	—	—	—	—	—	13.3B	12.9B	13.6B	13.5B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	687.8M	691M	-462.1M	758.4M	920M	1B	1.4B	916.8M	319M	699M
Depreciation & amortization	401.1M	461M	460.5M	582.2M	658.2M	601.5M	649.1M	580M	1.5B	2.5B
Stock-based compensation	12.6M	27.6M	25.2M	43.7M	43M	78.1M	69.7M	73.3M	206M	139M
Change in working capital	-207.7M	-196.5M	-139.4M	160.1M	44.3M	-835.6M	-455.8M	200.1M	-391M	103M
Operating cash flow	1.1B	1.2B	1.6B	1.8B	1.8B	924.2M	1.8B	1.7B	1.5B	3.4B
Capital expenditure	-436.5M	-513.5M	-596M	-677.7M	-600.2M	-654.4M	-923.3M	18.9M	61M	-2.2B
Investing cash flow	-463.8M	-567.5M	-1.2B	-806.5M	-591.6M	-1.1B	-1B	-2.2M	-648M	-2.2B
Dividends paid	-174.6M	-229.1M	-243.7M	-266.6M	-319.8M	-341.9M	-356M	-434M	-650M	-900M
Share repurchases	-10.5M	-12M	-11.4M	-25.8M	-19.7M	-24.9M	-74M	-33.3M	-27M	0
Financing cash flow	-165.1M	-207.5M	-80.1M	-704.6M	-78.7M	-15.9M	-530.8M	-541.3M	607M	-1.3B
Net change in cash	442.6M	473.3M	318.8M	271.8M	1.2B	-210.3M	248M	1.2B	1.4B	-61M
Free cash flow	309.2M	341.9M	549.1M	594.8M	901.6M	420.1M	602.7M	699.2M	17M	1.2B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	60.8M	389.2M	191M	132M	-150M	146M	382M	-26M	245M	98M	63M	88M
Depreciation & amortization	—	271.9M	—	—	—	—	—	—	659M	675M	728M	678M
Stock-based compensation	—	24.4M	—	—	—	—	—	—	35M	25M	28M	27M
Change in working capital	—	287.8M	—	—	—	—	—	—	101M	564M	-437M	-86M
Operating cash flow	60.8M	1.1B	191M	132M	-150M	146M	382M	-26M	1.1B	1.2B	204M	765M
Capital expenditure	—	-923M	—	—	—	—	—	—	-610M	-583M	-624M	-465M
Investing cash flow	—	-914.7M	—	—	—	—	—	—	-583M	-576M	-636M	-458M
Dividends paid	—	-106.7M	—	—	—	—	—	—	-225M	-225M	-237M	-237M
Share repurchases	—	-951.2K	—	—	—	—	—	—	0	0	—	—
Financing cash flow	—	-149.7M	—	—	—	—	—	—	-470M	-624M	209M	-318M
Net change in cash	60.8M	78.8M	191M	132M	-150M	146M	382M	-26M	80M	-5M	-223M	-11M
Free cash flow	—	440.4M	—	—	—	—	—	—	523M	612M	-420M	300M

Smurfit WestRock Plc Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement