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Stocks / United States / SW · Paperboard Containers & Boxes · NYSE

Smurfit Westrock plc (SW)

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Smurfit Westrock plc (SW) reported revenue of $8.0 billion for Q2 FY2026, the quarter ended 30 June 2026, up 1.1% on the same quarter a year earlier. Net income was $89 million, and diluted earnings per share $0.17. The figures are the company's own, from the 10-Q it filed with the SEC on 31 July 2026.

Revenue$8.0 billionup 1.1%
Net income$89 million
Diluted EPS$0.17
QuarterQ2 FY2026ended 30 June 2026

Ratios

From the filings

ROE2.8%
ROCE4.7%
Operating margin4.7%
Net margin1.6%
FCF margin3.2%
Interest cover1.75
Debt to equity0.73
Cash conversion6.63
Share count, 1 year0.5%
Sales CAGR, 3 years32.2%
Profit CAGR, 3 years-12.2%
EPS, TTM$0.94

At the close of 21 September 2026

Price$45.41
Market cap$23.8 billion
Stock P/E48.31
Price to book1.32
EV / EBITDA8.63
Dividend yield3.8%
Market cap / sales0.76
52-week high$51.84
52-week low$32.79
Price, 1 year3.6%
Price CAGR, 3 yearsn/a
Price CAGR, 5 yearsn/a

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Debt to equity here stands on the one borrowings figure Smurfit Westrock plc files, which has finance leases inside it; operating leases are a separate line. Nothing here is a valuation or a view.

Price, 8 July 2024 to 21 September 2026

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on SW

Filings16 in twelve months: 7 current reports (8-K), about 4 results of operations; 4 regulation fd disclosure; 1 shareholder vote; 1 officer or director change; 1 new financial obligation
Planned insider sales4 Form 144 notices in twelve months, $16.8 million; latest 19 February 2026
Options tapeput/call 0.43 by open interest on 23 September 2026; the straddle prices a 7.8% move to 16 October 2026
Holders9 of the followed funds hold it; largest Capital Research Global Investors; 6 Schedule 13D or 13G filings in twelve months
Insider trading0 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest22.5 million shares short, 5.08 days to cover at 31 August 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 11 quarters

Q3 FY2023Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue2,9152,9302,9697,6717,5397,6567,9408,0037,5807,7128,031
Cost of revenue2,1732,2202,2766,3216,0976,0796,4256,4346,1986,4446,632
Gross profit7427106931,3501,4421,5771,5151,5691,3821,2681,399
Gross margin25%24%23%18%19%21%19%20%18%16%17%
SG&A3713803891,028996988963963n/a961970
Operating income35430724455.0401553251526389253309
Operating margin12%10%8%1%5%7%3%7%5%3%4%
Interest expense46.037.075.0209204195208204233198208
Pre-tax income302267-0.0-11741039058.033617584.0128
Tax rate24%28%n/an/a19%2%145%27%44%25%31%
Net income229191-0.0-150278384-28.024697.065.089.0
Net margin8%7%-0%-2%4%5%-0%3%1%1%1%
Diluted EPS$0.88$0.73-$2.56-$0.30$2.95$0.73-$0.05$0.47$0.18$0.12$0.17
Operating cash flow9480.00.07027812358291,1331,195204765
Capital expendituren/a208177512569477522610583624465
Free cash flown/a-208-177190212-242307523612-420300
Buybacksn/a27.00.00.00.00.00.00.00.0n/an/a
Dividends paidn/a0.0335158157225225225225237237
Shares outstanding520mn/a522m520m520m522m522m522m522m524m525m
Filing10-Q10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless. EPS is as filed for each quarter. A split or a bonus issue changes the share count, so quarters before it are on the old count.

Profit and loss, 4 fiscal years and the trailing twelve months

FY2022 FY2023 FY2024 FY2025TTM
Revenue13,50912,09321,10931,17931,326
Cost of revenue10,2379,03916,91425,13625,708
Gross profit3,2723,0544,1956,0435,618
Gross margin24.2%25.3%19.9%19.4%17.9%
Selling, general and administrative1,5431,5722,7373,819n/a
Operating income1,5581,3721,0071,7191,477
Operating margin11.5%11.3%4.8%5.5%4.7%
Interest expense148170525840843
Pre-tax income1,4261,138560959723
Income tax391312241260229
Effective tax rate27.4%27.4%43.0%27.1%31.7%
Net income1,034825319699497
Net margin7.7%6.8%1.5%2.2%1.6%
Diluted EPS$3.96$3.17$0.82$1.33$0.94
Filing10-K10-K10-K10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

FY2022 FY2023 FY2024 FY2025TTM
Operating cash flow1,4331,5591,4833,3923,297
Capital expenditure9309291,4662,1922,282
Free cash flow50363017.01,2001,015
Free cash flow margin3.7%5.2%0.1%3.8%3.2%
Depreciation and amortisation5645801,4642,5502,740
Share-based compensation68.066.0206139115
Buybacks32.030.027.00.0n/a
Dividends paid349391650900924
Dividend per share$1.35$1.50$1.25$1.72n/a
Diluted shares, weighted261m260m389m526m526m
Shares outstanding at period endn/a0m520m522m525m
Filing10-K10-K10-K10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2022 FY2023 FY2024 FY2025TTM
Total assetsn/a14,05143,75945,15745,201
Cash and equivalents8411,000855892677
Receivablesn/a1,8064,1174,2684,922
Inventoryn/a1,2033,5503,6933,612
Goodwill2,7222,8426,8227,2187,175
Long-term debtn/an/a13,05613,223n/a
Long-term debt including finance leasesn/a3,66912,54213,42713,233
Operating lease liabilitiesn/a269710774n/a
Finance lease liabilitiesn/a26.0506507n/a
Shareholders' equity0.06,15817,36018,32718,036
Filing10-K10-K10-K10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compoundedn/an/a32.2%1.7%
Profit growth, compoundedn/an/a-12.2%2.7%
Return on equity, averagen/a241588789.8%6.3%3.8%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Paperboard Containers & Boxes

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Smurfit Westrock plc SW$23.8 billion48.312.8%4.7%1.7%0.733.8%
Packaging Corp. of America PKG$21.2 billion30.9114.8%10.9%10.3%0.852.1%

The names on this site in the same industry (the SEC's SIC description), by market capitalisation. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close.

Filings

FilingPeriodFiledWhere
10-Q30 June 202631 July 2026EDGAR
10-Q31 March 20261 May 2026EDGAR
10-K31 December 202527 February 2026EDGAR
10-Q30 September 20257 November 2025EDGAR
10-Q30 June 20257 August 2025EDGAR
10-Q31 March 20259 May 2025EDGAR
10-K31 December 20247 March 2025EDGAR
10-Q30 September 20248 November 2024EDGAR
10-Q30 June 20249 August 2024EDGAR
10-Q31 March 20247 June 2024EDGAR

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