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 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
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
FCF
Total debt
Cash
2025
$31.2B
$699M
19.4%
5.5%
$1.2B
$13.2B
$892M
2024
$21.1B
$319M
19.9%
4.8%
$17M
$13.1B
$855M
2023
$12.1B
$825M
25.3%
11.3%
$630M
—
$1.0B
2022
$13.5B
$1.0B
24.2%
11.5%
$503M
—
—
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
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
FCF
Total debt
Cash
Mar '26
$7.7B
$65M
16.4%
3.3%
-$420M
—
$674M
Dec '25
$7.6B
$97M
18.2%
5.1%
$612M
$13.2B
$892M
Sep '25
$8.0B
$246M
19.6%
6.6%
$523M
—
$851M
Jun '25
$7.9B
-$28M
19.1%
3.2%
$307M
—
$778M
Mar '25
$7.7B
$384M
20.6%
7.2%
-$242M
—
$797M
Dec '24
$7.5B
$146M
19.1%
5.3%
$212M
$13.1B
$855M
Sep '24
$7.7B
-$150M
17.6%
0.7%
-$192M
—
—
Jun '24
$3.0B
$132M
23.3%
8.2%
$163M
—
$26762
Mar '24
$2.9B
$191M
24.2%
10.5%
-$166M
—
$108
Dec '23
$2.9B
$48M
24.5%
6.3%
$343M
—
$1.0B
Sep '23
$2.9B
$229M
25.5%
12.1%
—
—
—
Jun '23
—
$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 35.1× (Jun '26).
The price-to-sales ratio has fallen from 1.9× (Jul '24) to 0.8× (Jun '26).
The dividend yield has risen from 1.7% (Jul '24) to 3.7% (Jun '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?
As of Jun '26, Smurfit Westrock traded at a price-to-earnings ratio of about 35.1× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. 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), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.