SW Financials Smurfit Westrock

4 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Aug 4, 2026, 19:38 UTC Overview →

Growth & profitability

Revenue has grown 32.2% per year over the past 3 years.
Net income has grown slower than revenue (-12.2% vs 32.2% per year).
Operating margin has contracted, at 5.5% in the latest year.
Free cash flow has grown 33.6% per year over the past 3 years.

Financial health

Total debt ($13.2B) exceeds cash ($892M); net debt is $12.3B.
Total debt has grown slower than revenue (1.3% vs 32.2% per year).
Operating income covered interest expense 2.0× in the latest year, down from 11× 3 years ago.
Total debt is 3.1× EBITDA.

Shareholder returns

Dividends have been paid for 4 consecutive years, consuming 128.8% of earnings and 75.0% of free cash flow.
The dividend has grown 37.1% per year over the past 3 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$31.2B	$699M	19.4%	5.5%	3.8%	1.5%	$1.2B	$13.2B	$892M
2024	$21.1B	$319M	19.9%	4.8%	1.8%	0.7%	$17M	$13.1B	$855M
2023	$12.1B	$825M	25.3%	11.3%	13.4%	5.9%	$630M	—	$1.0B
2022	$13.5B	$1.0B	24.2%	11.5%	966355140.2%	—	$503M	—	—

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Jun '26	$8.0B	$89M	17.4%	3.8%	0.5%	0.2%	$300M	—	$677M
Mar '26	$7.7B	$65M	16.4%	3.3%	0.4%	0.1%	-$420M	—	$674M
Dec '25	$7.6B	$97M	18.2%	5.1%	0.5%	0.2%	$612M	$13.2B	$892M
Sep '25	$8.0B	$246M	19.6%	6.6%	1.3%	0.5%	$523M	—	$851M
Jun '25	$7.9B	-$28M	19.1%	3.2%	-0.2%	-0.1%	$307M	—	$778M
Mar '25	$7.7B	$384M	20.6%	7.2%	2.1%	0.9%	-$242M	—	$797M
Dec '24	$7.5B	$146M	19.1%	5.3%	0.8%	0.3%	$212M	$13.1B	$855M
Sep '24	$7.7B	-$150M	17.6%	0.7%	-0.8%	-0.3%	-$192M	—	—
Jun '24	$3.0B	$132M	23.3%	8.2%	912736.8%	493236.7%	$163M	—	$26762
Mar '24	$2.9B	$191M	24.2%	10.5%	176851851.9%	176851851.9%	-$166M	—	$108
Dec '23	$2.9B	$48M	24.5%	6.3%	0.8%	0.3%	$343M	—	$1.0B
Sep '23	$2.9B	$229M	25.5%	12.1%	—	—	—	—	—
Jun '23	—	$0	—	—	0.0%	—	—	—	—

Valuation over time

How the market has priced SW against its own fundamentals since 2024-07 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 28.5× (Jul '24) to 32.6× (Nov '26).
The price-to-sales ratio has fallen from 1.9× (Jul '24) to 0.7× (Nov '26).
The dividend yield has risen from 1.7% (Jul '24) to 4.0% (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is SW growing its revenue and profit?

Over the past 3 years, Smurfit Westrock's revenue has grown 32.2% per year, and net income declined 12.2% per year. These are computed facts, not advice.

How much debt does SW have?

As of FY2025, Smurfit Westrock reported $13.2B of total debt against $892M of cash; operating income covered interest expense 2.0×.

What is SW's profit margin?

In FY2025, gross margin was 19.4%, operating margin 5.5%, and net margin 2.2%.

What is SW's P/E ratio?

Smurfit Westrock's P/E (TTM) is 45.83 as of the 2026-11-03 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the SW stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 32.6× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.