Smurfit Westrock plc (SW) quarterly cash flow statement — complete operating, investing & financing history
Smurfit Westrock plc (SW) cash flow statement — 22-year operating, investing & financing cash flows
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 765M | 204M | 1.2B | 1.13B | 829M | 235M | 752.86M | 320M | 340M | 42M | 728.89M | 572.67M | 242.46M | 932M | 513.04M | 457.24M | 218M | 625.43M | 311.5M | 370.69M |
| Operating CF Margin % | 9.53% | 3.04% | 15.77% | 14.16% | 10.44% | 3.07% | 10.35% | 4.64% | 12.27% | 1.55% | 28.12% | 20.32% | 8.12% | 27.54% | 13.87% | 14.32% | 6.83% | 20.19% | 11.48% | 15.84% |
| Operating CF Growth % | -7.72% | -13.19% | 58.73% | 254.06% | 143.82% | 459.52% | 3.29% | - | -40.63% | -82.68% | -21.79% | 25.24% | 11.22% | 49.02% | 64.7% | 23.35% | 20.11% | -15.94% | -15.24% | 44.8% |
| Net Income | 88M | 63M | 252M | 245M | -26M | 382M | 146M | -150M | 132M | 191M | 389.2M | 244.68M | 259.05M | 348.38M | 240.4M | 287M | 287M | 379.75M | 185.5M | 312.8M |
| Depreciation & Amortization | 678M | 728M | 675M | 659M | 613M | 603M | 593M | 564M | 160M | 148M | 271.93M | 305.16M | 75.37M | 306.01M | 135.18M | 318.4M | 152.5M | 286.61M | 140M | 277.26M |
| Stock-Based Compensation | 27M | 28M | 25M | 35M | 36M | 43M | 0 | 123M | 16M | 15M | 24.43M | 17.41M | 15.67M | 17.56M | 19.19M | 0 | 15.5M | 23.58M | 20.5M | 14M |
| Deferred Taxes | -69M | -36M | -51M | -12M | -98M | -29M | -35.03M | -89M | -8M | -2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 19.18M | 1000K | -124.45M | 35M | 138M | -27M | 19.06M | -23M | 2M | -7M | -222.06M | 2.42M | -69.83M | 62.09M | -98.04M | 239.84M | 151M | -5.07M | 221.5M | 2.25M |
| Working Capital Changes | 21.82M | -580M | 418.45M | 171M | 166M | -737M | 29.83M | -105M | 38M | -303M | 265.4M | 3M | -37.8M | 197.96M | 216.31M | -388M | -388M | -59.44M | -256M | -235.62M |
| Change in Receivables | -265.84M | -398M | 365.64M | 185M | -92M | -342M | 284.55M | -186M | -40M | -196M | 164.86M | -39.63M | -67.9M | 316.92M | 220.25M | -556.42M | -266.5M | -178.39M | -93M | -310.77M |
| Change in Inventory | -28.24M | 101M | 83.25M | -4M | 7M | -62M | -60.16M | 140M | -28M | 8M | 53.44M | 122.86M | -1.97M | 47.23M | 3.43M | -229.67M | -110M | -168.91M | -84M | -79.22M |
| Change in Payables | 139M | -44M | 106.24M | -107M | 82M | -117M | -40.77M | -214M | 90M | -102M | 0 | -334.88M | 709.3M | -185.17M | 0 | 263.07M | 0 | 437.85M | 0 | 191.95M |
| Cash from Investing | -448M | -627M | -579M | -568M | -520M | -476M | -472.47M | -1.19B | -203M | -207M | -230.07M | -422.07M | -214.8M | -450.98M | -290.3M | -230M | -230M | -769.23M | -376.5M | -126M |
| Capital Expenditures | -465M | -624M | -583M | -610M | -522M | -477M | -538.99M | -512M | -177M | -208M | -426.98M | -421.08M | 177.91M | -405.6M | -265.39M | -444.72M | -209M | -380.81M | -183M | -237.65M |
| CapEx % of Revenue | 5.79% | 9.31% | 7.69% | 7.62% | 6.57% | 6.23% | 7.41% | 7.43% | 6.39% | 7.66% | 16.47% | 14.94% | 5.96% | 11.98% | 7.18% | 13.93% | 6.55% | 12.3% | 6.74% | 10.16% |
| Acquisitions | 9M | -9M | -1M | 0 | -1M | -4M | 59.69M | -688M | -28M | 0 | -3.62M | -2.97M | 7.17M | -51.03M | -32.09M | -37.58M | -23M | -392.47M | -196.5M | -15.23M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 8M | 6M | 4M | 42M | 3M | 5M | 6.83M | 15M | 2M | 1M | 200.53M | 1.98M | -399.88M | 5.65M | 7.18M | 252.3M | 2M | 4.06M | 3M | 126.88M |
| Cash from Financing | -318M | 209M | -624M | -470M | -355M | 151M | -279.8M | -1.51B | 2.38B | 0 | -91.49M | -303M | -26.74M | -135.18M | -56.81M | -163M | -163M | 263.62M | 183M | -190M |
| Debt Issued (Net) | -80.41M | 514M | -378M | -244M | -126M | 444M | 1.29B | -1.32B | 2.75B | 27M | -119.02M | -25M | -145.1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity Issued (Net) | -45.41K | 14M | 0 | 0 | 0 | 0 | 665.89K | -398.13K | 0 | -27M | -951.2K | 2M | -951.2K | -22.19M | -24.25M | -13.5M | -13.5M | -2.62M | 0 | -11M |
| Dividends Paid | -237M | -237M | -225M | -225M | -225M | -225M | -142.66M | -158M | -335M | 0 | -85.78M | -277.42M | -47.5M | -48.49M | -52.99M | -125M | -125M | -56.9M | -38M | -113M |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 665.89K | 0 | 0 | -27M | -951.2K | 2M | -27.66M | -22.19M | -24.25M | -13.5M | -13.5M | -2.62M | 0 | -11M |
| Other Financing | -543.79K | -82M | -21M | -1M | -4M | -68M | -1.42B | -36M | -30M | 0 | 114.27M | -2.58M | 166.82M | -64.49M | 20.43M | -24.5M | -24.5M | 323.13M | 221M | -66M |
| Net Change in Cash | 3M | -218M | 41M | 73M | -19M | -58M | -96M | -2.37B | 2.51B | -189M | 254.81M | -155.9M | 28.63M | 304.5M | -474M | 366.69M | -865.42M | -551.91M | -605M | 557.25M |
| Free Cash Flow | 300M | -420M | 612M | 523M | 307M | -242M | 213.87M | -192M | 163M | -166M | 310.69M | 151.59M | 25.81M | 526.4M | 247.65M | 12.53M | 9M | 244.62M | 128.5M | 133.04M |
| FCF Margin % | 3.74% | -6.27% | 8.07% | 6.54% | 3.87% | -3.16% | 2.94% | -2.79% | 5.88% | -6.11% | 11.98% | 5.38% | 0.86% | 15.55% | 6.7% | 0.39% | 0.28% | 7.9% | 4.73% | 5.69% |
| FCF Growth % | -2.28% | -73.55% | 186.16% | 372.4% | 88.34% | -45.78% | -31.16% | - | 7.53% | -743.08% | -40.98% | 1110.08% | 186.81% | 115.19% | 92.72% | -90.58% | -86.67% | -48.83% | -47.34% | -47.31% |
| FCF per Share | 0.57 | -0.78 | 1.14 | 0.99 | 0.59 | -0.46 | 0.47 | -0.38 | 0.63 | -0.64 | 1.20 | 0.58 | 0.10 | 1.99 | 0.94 | 0.05 | 0.03 | 0.93 | 0.49 | 0.52 |
| FCF Conversion (FCF/Net Income) | 8.69x | 3.61x | 12.32x | 4.61x | -29.61x | 0.61x | 5.34x | -2.38x | 2.76x | 0.24x | 16.76x | 2.34x | 0.94x | 4.24x | 2.13x | 1.59x | 0.76x | 2.96x | 1.68x | 2.41x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -28.52M | 0 | 28.5M | 0 | 48.5M | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |