Smurfit Westrock PlcSW
NYSE•Consumer Cyclical•Packaging & Containers
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.
Smurfit WestRock plc (SW) reported trailing twelve months revenue of $31.23B as of March 2026, a 8.6% increase year-over-year. Quarterly revenue reached $7.71B, reflecting continued top-line momentum.
Smurfit WestRock plc generated $380.00M in TTM net income, with quarterly EBITDA of $981.00M. The operating margin contracted from 7.2% to 3.3%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (3.3%) and net margin (0.8%) indicates tight cost control with minimal non-operating drag. Net margin has narrowed from 5.0% a year ago, reflecting increased costs or interest expense.
SW trades at a P/E of 52.6x (a premium multiple) and a P/S of 0.6x. The price-to-book ratio of 1.1x reflects a moderate premium to book value.
The company reported negative free cash flow of $-420.00M, indicating cash consumption over the period. The balance sheet shows $45.17B in total assets with $13.28B in long-term debt against $18.06B in stockholders equity for a debt-to-equity ratio of 0.7. Data based on the most recent quarterly reports.
Competitive analysis based on 8 quarters of fundamental data
Operating margins are under pressure, averaging -153745.9%. The business may lack pricing power or face rising costs.'
ROE is positive at ~3.9% on average, adequate but below the threshold typically associated with wide moats.
Only 4 of the last 8 quarters had positive FCF — the business may require external capital to sustain operations.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 8 quarters
The company posted negative operating margins in recent quarters — core operations are unprofitable.
FCF consistently trails net income (avg -1.0x) — earnings may be inflated by non-cash items or aggressive accounting.
D/E ratio is 0.7 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
FCF turned negative in 3 of the last 8 quarters — occasional cash consumption.
Shares outstanding increased 10888927.7% — significant dilution, likely from stock compensation or capital raises.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation