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Smurfit Westrock Plc, together with its subsidiaries, manufactures, distributes, and sells containerboard, corrugated containers, and other paper-based packaging products in North America, South America, Europe, Asia, Africa, Australia, and internationally. The company produces containerboard and paperboard; packaging of corrugated containers; consumer packaging; and offers solid board, kraft paper, and graphic board, as well as other packaging products, such as solidboard packaging, paper sacks and bag-in-box. It produces linerboard and corrugated medium and paperboard; and other paper-based packaging, such as folding cartons, inserts, labels and displays. The company primarily serves food and beverage, healthcare, beauty and personal care, garden, consumer goods, industrial, and foodservice markets. It markets its products through its own sales force, independent sales representatives, and independent distributors. Smurfit Westrock Plc was founded in 1934 and is headquartered in Dublin, Ireland.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $31.2B | $4.3B | $699M | $1.2B | 3.8% | 47.7% | 119.1% |
| 2024 | $21.1B | $2.5B | $319M | $17M | 1.8% | 74.6% | -61.3% |
| 2023 | $12.1B | $1.9B | $825M | $630M | 13.4% | -10.5% | -20.2% |
| 2022 | $13.5B | $2.1B | $1.0B | $503M | 19.2% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 13,509 | 12,093 | 21,109 | 31,179 |
| Operating Revenue | - | 13,509 | 12,093 | 21,109 | 31,179 |
| Cost Of Revenue | - | 10,237 | 9,039 | 16,914 | 25,136 |
| Gross Profit | - | 3,272 | 3,054 | 4,195 | 6,043 |
| Operating Expense | - | 1,543 | 1,572 | 2,737 | 3,819 |
| Selling General And Administration | - | 1,543 | 1,572 | 2,737 | 3,819 |
| Total Expenses | - | 11,780 | 10,611 | 19,651 | 28,955 |
| Operating Income | - | 1,729 | 1,482 | 1,458 | 2,224 |
| Total Operating Income As Reported | - | 1,558 | 1,372 | 1,007 | 1,719 |
| EBITDA | - | 2,138 | 1,888 | 2,549 | 4,349 |
| Normalized EBITDA | - | 2,309 | 1,998 | 3,000 | 4,854 |
| EBIT | - | 1,574 | 1,308 | 1,085 | 1,799 |
| Interest Income | - | 9 | 31 | 127 | 111 |
| Interest Expense | - | 148 | 170 | 525 | 840 |
| Net Interest Income | - | -139 | -139 | -398 | -729 |
| Other Non Operating Income Expenses | - | 7 | -95 | -49 | -31 |
| Other Income Expense | - | -164 | -205 | -500 | -536 |
| Interest Income Non Operating | - | 9 | 31 | 127 | 111 |
| Interest Expense Non Operating | - | 148 | 170 | 525 | 840 |
| Net Non Operating Interest Income Expense | - | -139 | -139 | -398 | -729 |
| Pretax Income | - | 1,426 | 1,138 | 560 | 959 |
| Tax Provision | - | 391 | 312 | 241 | 260 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -46.89 | -30.16 | -56.38 | -136.85 |
| Net Income Continuous Operations | - | 1,035 | 826 | 319 | 699 |
| Net Income From Continuing And Discontinued Operation | - | 1,034 | 825 | 319 | 699 |
| Net Income From Continuing Operation Net Minority Interest | - | 1,034 | 825 | 319 | 699 |
| Net Income | - | 1,034 | 825 | 319 | 699 |
| Net Income Common Stockholders | - | 1,034 | 825 | 319 | 699 |
| Net Income Including Noncontrolling Interests | - | 1,035 | 826 | 319 | 699 |
| Normalized Income | - | 1,158.11 | 904.84 | 713.62 | 1,067.14 |
| Diluted NI Availto Com Stockholders | - | 1,034 | 825 | 319 | 699 |
| Basic Average Shares | - | 258 | 258 | 384.34 | 522 |
| Diluted Average Shares | - | 261 | 260 | 389.02 | 526 |
| Reconciled Depreciation | - | 564 | 580 | 1,464 | 2,550 |
| Reconciled Cost Of Revenue | - | 10,237 | 9,039 | 16,914 | 25,136 |
| Total Unusual Items | - | -171 | -110 | -451 | -505 |
| Total Unusual Items Excluding Goodwill | - | -171 | -110 | -451 | -505 |
| Minority Interests | - | -1 | -1 | 0 | 0 |
| Special Income Charges | - | -171 | -110 | -451 | -505 |
| Gain On Sale Of Business | - | -137.27 | -37.58 | - | - |
| Other Special Charges | 35.10 | -9.65 | 76.27 | - | - |
| Write Off | - | 159 | 5 | 24 | 246 |
| Impairment Of Capital Assets | - | 12 | 0 | 0 | - |
| Restructuring And Mergern Acquisition | - | 0 | 105 | 427 | 259 |
| Gain On Sale Of Security | -6.79 | -9.65 | -12.16 | - | - |
| General And Administrative Expense | 1,354.14 | 1,544.25 | 1,610.57 | - | - |
| Other Gand A | 1,354.14 | 1,544.25 | 1,610.57 | - | - |
| Other Operating Expenses | - | 239.14 | - | - | - |
| Selling And Marketing Expense | 931.82 | 1,030.57 | 1,024.71 | - | - |
| Otherunder Preferred Stock Dividend | 0 | 0 | 0 | - | - |
| Earnings From Equity Interest | 2.26 | 3.22 | 2.21 | - | - |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Smurfit Westrock Plcthis co. | SW | $22.2B | 31.72↑ premium | 1.21 | 3.8% | 8.06 |
| Williams-Sonoma, Inc. | WSM | $24.5B | 22.51 | 11.77 | 52.3% | 15.14 |
| Lennar Corporation | LEN | $22.6B | 10.89 | 1.03 | 9.5% | 8.58 |
| PulteGroup, Inc. | PHM | $22.5B | 10.15 | 1.73 | 17.1% | 7.55 |
| Rollins, Inc. | ROL | $22.4B | 42.51 |
| - |
| - |
| - |
| - |
| - |
| 16.29 |
| 38.3% |
| 27.31 |
| Darden Restaurants, Inc. | DRI | $22.2B | 21.11 | 9.59 | 45.4% | 14.96 |
| Ralph Lauren Corporation | RL | $21.8B | 23.19 | 7.68 | 33.1% | 15.60 |
| Packaging Corporation of America | PKG | $20.0B | 25.86 | 4.35 | 16.8% | 13.56 |
| Ulta Beauty, Inc. | ULTA | $19.9B | 17.24 | 7.09 | 41.1% | 11.70 |
| Peer Median | - | 21.81 | 7.39 | 35.7% | 14.26 | |