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Smurfit Westrock Plc (SW) 10-Year Financial Performance & Capital Metrics

SW • • Industrial / General
Consumer CyclicalPackagingPaper & Fiber PackagingCorrugated Packaging
AboutSmurfit Westrock Plc, together with its subsidiaries, manufactures, distributes, and sells containerboard, corrugated containers, and other paper-based packaging products in Ireland and internationally. The company produces containerboard that it converts into corrugated containers or sells to third parties, as well as produces other types of paper, such as consumer packaging board, sack paper, graphic paper, solid board and graphic board, and other paper-based packaging products, such as consumer packaging, solid board packaging, paper sacks, and other packaging products, including bag-in-box. It also produces linerboard and corrugated medium, paperboard, and non-packaging grades of paper, as well as converted products, such as folding cartons and corrugated boxes, and other products; recycled paper-based packaging products; and packaging machinery. The company primarily serves food and beverage, e-commerce, retail, consumer goods, industrial, and foodservice markets. Smurfit Westrock Plc was founded in 1934 and is headquartered in Dublin, Ireland.Show more
  • Revenue $20.38B +86.0%
  • EBITDA $2.39B +34.9%
  • Net Income $308M -58.8%
  • EPS (Diluted) 0.79 -75.5%
  • Gross Margin 19.87% -21.3%
  • EBITDA Margin 11.71% -27.5%
  • Operating Margin 4.77% -58.0%
  • Net Margin 1.51% -77.8%
  • ROE 2.61% -80.5%
  • ROIC 3.7% -65.8%
  • Debt/Equity 0.78 +16.9%
  • Interest Coverage 1.92 -76.2%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 17.6%
  • ✓Healthy dividend yield of 3.9%
  • ✓Trading at only 1.0x book value

✗Weaknesses

  • ✗Weak Piotroski F-Score: 3/9
  • ✗Dividend payout exceeds 100% of earnings
  • ✗Shares diluted 49.6% in last year

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y17.63%
3Y24.79%
TTM94.39%

Profit (Net Income) CAGR

10Y-
5Y-8.34%
3Y-24.11%
TTM243.61%

EPS CAGR

10Y-
5Y-18.81%
3Y-36.53%
TTM25.21%

ROCE

10Y Avg11.33%
5Y Avg11.3%
3Y Avg10.72%
Latest4.1%

Peer Comparison

Corrugated Packaging
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Size & Scale
Valuation
Per Share
Growth
Profitability
Quality & Returns
Safety & Leverage
TTM Growth
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Latest Quarter
Momentum & Returns
Total Return (DRIP)
Technical
Volume & Trading
Shares & Dilution
Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
SWSmurfit Westrock Plc22.63B43.3354.8586.02%2.47%3.89%0.08%0.78
IPInternational Paper Company23.05B43.6627.81-1.57%-5.45%-7.39%3.28%0.72
PKGPackaging Corporation of America19.97B221.9624.867.45%10.18%18.78%2.61%0.63

Profit & Loss

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+9.05B8.53B10.48B12.62B10.95B20.38B
Revenue Growth %--0.06%0.23%0.2%-0.13%0.86%
Cost of Goods Sold+6.04B5.66B8.13B9.56B8.19B16.33B
COGS % of Revenue0.67%0.66%0.78%0.76%0.75%0.8%
Gross Profit+3B2.87B2.35B3.06B2.77B4.05B
Gross Margin %0.33%0.34%0.22%0.24%0.25%0.2%
Gross Profit Growth %--0.04%-0.18%0.3%-0.09%0.46%
Operating Expenses+2.12B1.98B1.25B1.6B1.52B3.08B
OpEx % of Revenue0.23%0.23%0.12%0.13%0.14%0.15%
Selling, General & Admin1.96B1.96B1.27B1.45B1.5B2.72B
SG&A % of Revenue0.22%0.23%0.12%0.11%0.14%0.13%
Research & Development8M8M0000
R&D % of Revenue0%0%----
Other Operating Expenses153M11M-20.21M152.23M26.27M358.13M
Operating Income+884M891M1.1B1.46B1.24B972.06M
Operating Margin %0.1%0.1%0.11%0.12%0.11%0.05%
Operating Income Growth %-0.01%0.24%0.32%-0.15%-0.22%
EBITDA+1.32B1.35B1.59B1.98B1.77B2.39B
EBITDA Margin %0.15%0.16%0.15%0.16%0.16%0.12%
EBITDA Growth %-0.02%0.18%0.25%-0.11%0.35%
D&A (Non-Cash Add-back)441M457M486.74M526.72M525.36M1.41B
EBIT1.04B910M1.08B1.61B1.27B1.33B
Net Interest Income+-163.64M-116.32M-123.01M-137.71M-126.31M-384.35M
Interest Income3.94M2.79M3.13M8.79M28.17M122.64M
Interest Expense167.59M119.11M126.14M146.5M154.48M506.99M
Other Income/Expense-207M-143M-157.27M-123.27M-211.96M-431.49M
Pretax Income+677M748M947.13M1.33B1.03B540.57M
Pretax Margin %0.07%0.09%0.09%0.11%0.09%0.03%
Income Tax+193M201M242.49M365.15M282.61M232.64M
Effective Tax Rate %0.7%0.73%0.74%0.73%0.72%0.57%
Net Income+476M545M704.64M965.65M747.28M307.93M
Net Margin %0.05%0.06%0.07%0.08%0.07%0.02%
Net Income Growth %-0.14%0.29%0.37%-0.23%-0.59%
Net Income (Continuing)484M547M704.64M966.59M748.19M307.93M
Discontinued Operations000000
Minority Interest41M13M12.99M14.01M16M27M
EPS (Diluted)+2.242.673.093.803.220.79
EPS Growth %-0.19%0.16%0.23%-0.15%-0.75%
EPS (Basic)2.252.693.123.853.250.80
Diluted Shares Outstanding238M251.09M260M261M260M389M
Basic Shares Outstanding237M248.8M257M258M258M386M
Dividend Payout Ratio0.56%0.59%0.51%0.36%0.52%2.11%

Balance Sheet

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+2.68B3.26B4.07B4.5B4.57B10.05B
Cash & Short-Term Investments189M891M854.32M785.41M1B855M
Cash Only189M891M854.32M785.41M1B855M
Short-Term Investments000000
Accounts Receivable1.4B1.34B1.79B1.9B1.81B4.12B
Days Sales Outstanding56.5657.2162.255.0160.1873.75
Inventory819M773M1.05B1.26B1.2B3.55B
Days Inventory Outstanding49.4749.8846.9148.2853.6379.36
Other Current Assets204M177M279.78M551.93M427.34M1.53B
Total Non-Current Assets+7.25B7.03B7.63B7.96B9.48B33.7B
Property, Plant & Equipment4.37B4.26B4.71B4.99B6.17B22.68B
Fixed Asset Turnover2.07x2.00x2.23x2.53x1.78x0.90x
Goodwill2.38B2.34B2.51B2.54B2.84B6.82B
Intangible Assets233M208M210.83M215.73M218M1.12B
Long-Term Investments26M23M23.98M000
Other Non-Current Assets231M200M176.86M211.06M-537.14M3.09B
Total Assets+9.93B10.29B11.7B12.46B14.05B43.76B
Asset Turnover0.91x0.83x0.90x1.01x0.78x0.47x
Asset Growth %-0.04%0.14%0.07%0.13%2.11%
Total Current Liabilities+2.21B2.23B2.82B3.04B3.01B7.33B
Accounts Payable1.02B978M1.42B1.8B1.73B3.29B
Days Payables Outstanding61.5563.1163.6468.8177.0373.55
Short-Term Debt110M71M73.94M86.85M191M1.05B
Deferred Revenue (Current)000000
Other Current Liabilities313M370M305.76M419.32M649M2.99B
Current Ratio1.21x1.46x1.44x1.48x1.52x1.37x
Quick Ratio0.84x1.11x1.07x1.07x1.12x0.89x
Cash Conversion Cycle44.4843.9845.4734.4736.7779.56
Total Non-Current Liabilities+4.72B4.28B4.48B4.43B4.87B19.04B
Long-Term Debt3.2B2.86B3.3B3.31B3.64B12.54B
Capital Lease Obligations299M263M288.77M264.29M295M0
Deferred Tax Liabilities0000280M3.6B
Other Non-Current Liabilities1.22B1.16B898.28M861.99M653M2.9B
Total Liabilities6.93B6.51B7.31B7.47B7.88B26.37B
Total Debt+3.69B3.28B3.75B3.74B4.13B13.6B
Net Debt3.5B2.38B2.9B2.96B3.13B12.74B
Debt / Equity1.23x0.87x0.85x0.75x0.67x0.78x
Debt / EBITDA2.78x2.43x2.36x1.89x2.34x5.70x
Net Debt / EBITDA2.64x1.77x1.82x1.49x1.77x5.34x
Interest Coverage5.27x7.48x8.76x9.93x8.04x1.92x
Total Equity+2.99B3.78B4.39B4.99B6.17B17.39B
Equity Growth %-0.26%0.16%0.14%0.24%1.82%
Book Value per Share12.5815.0716.8819.1223.7544.70
Total Shareholders' Equity2.95B3.77B4.38B4.98B6.16B17.36B
Common Stock000001M
Retained Earnings615M917M1.47B2.88B3.52B2.95B
Treasury Stock-42M-49M-58.95M-72.84M-91M-93M
Accumulated OCI393M256M318.75M-1.13B-847M-1.45B
Minority Interest41M13M12.99M14.01M16M27M

Cash Flow

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+1.3B1.53B1.17B1.43B1.56B1.48B
Operating CF Margin %0.14%0.18%0.11%0.11%0.14%0.07%
Operating CF Growth %-0.18%-0.24%0.22%0.09%-0.05%
Net Income758.36M920M802.57M1.03B826M319M
Depreciation & Amortization606.01M685.08M653.64M564M580M1.46B
Stock-Based Compensation43.69M43.05M068M66M206M
Deferred Taxes00041M-28M-137M
Other Non-Cash Items-159.06M-231.23M-159.57M42M-44M-20M
Working Capital Changes53.77M116.85M-126.47M-317M159M-349M
Change in Receivables58.25M27.06M-581.53M-91M245M-144M
Change in Inventory44.81M17.22M-290.77M-209M220M62M
Change in Payables00737.56M-33M-260M-273M
Cash from Investing+-823.33M-612.52M-1.19B-1.02B-931M-2.11B
Capital Expenditures-685.55M-606.37M-726.92M-930M-929M-1.47B
CapEx % of Revenue0.08%0.07%0.07%0.07%0.08%0.07%
Acquisitions------
Investments------
Other Investing-11.2M-3.69M5.91M18M31M72M
Cash from Financing+-704.59M-78.72M-16.55M-431M-479M607M
Debt Issued (Net)------
Equity Issued (Net)------
Dividends Paid-266.6M-319.79M-356.96M-349M-391M-650M
Share Repurchases------
Other Financing-119.86M-19.68M-93.38M-1M-3M-83M
Net Change in Cash------
Free Cash Flow+594.81M901.55M468.06M503M630M17M
FCF Margin %0.07%0.11%0.04%0.04%0.06%0%
FCF Growth %-0.52%-0.48%0.07%0.25%-0.97%
FCF per Share2.503.591.801.932.420.04
FCF Conversion (FCF/Net Income)2.74x2.81x1.66x1.48x2.09x4.82x
Interest Paid000000
Taxes Paid000000

Key Ratios

Metric201920202021202220232024
Return on Equity (ROE)15.9%16.09%17.25%20.59%13.39%2.61%
Return on Invested Capital (ROIC)10.21%10.56%12.31%14.33%10.81%3.7%
Gross Margin33.21%33.69%22.44%24.22%25.25%19.87%
Net Margin5.26%6.39%6.72%7.65%6.82%1.51%
Debt / Equity1.23x0.87x0.85x0.75x0.67x0.78x
Interest Coverage5.27x7.48x8.76x9.93x8.04x1.92x
FCF Conversion2.74x2.81x1.66x1.48x2.09x4.82x
Revenue Growth--5.73%22.91%20.33%-13.18%86.02%

Revenue by Segment

2024
Packaging17.25B
Packaging Growth-
Paper3.86B
Paper Growth-

Revenue by Geography

2024
UNITED STATES7.31B
UNITED STATES Growth-
Other Europe, MEA And APAC6.2B
Other Europe, MEA And APAC Growth-
Other Americas2.33B
Other Americas Growth-
MEXICO1.96B
MEXICO Growth-
GERMANY1.71B
GERMANY Growth-
FRANCE1.43B
FRANCE Growth-
IRELAND172M
IRELAND Growth-

Frequently Asked Questions

Valuation & Price

Smurfit Westrock Plc (SW) has a price-to-earnings (P/E) ratio of 54.8x. This suggests investors expect higher future growth.

Growth & Financials

Smurfit Westrock Plc (SW) reported $29.10B in revenue for fiscal year 2024. This represents a 222% increase from $9.05B in 2019.

Smurfit Westrock Plc (SW) grew revenue by 86.0% over the past year. This is strong growth.

Yes, Smurfit Westrock Plc (SW) is profitable, generating $718.1M in net income for fiscal year 2024 (1.5% net margin).

Dividend & Returns

Yes, Smurfit Westrock Plc (SW) pays a dividend with a yield of 3.86%. This makes it attractive for income-focused investors.

Smurfit Westrock Plc (SW) has a return on equity (ROE) of 2.6%. This is below average, suggesting room for improvement.

Smurfit Westrock Plc (SW) generated $801.9M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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