SW Smurfit Westrock plc

Overview and Growth

Smurfit Westrock plc generated $31.18B of revenue in fiscal 2025, with net income of $699.00M and an operating cash inflow of $3.39B. Revenue of $31.18B sets the scale for evaluating how effectively sales translated into profit and cash during the year. Revenue was 47.7% above fiscal 2024 revenue of $21.11B, marking a year-over-year increase. On a per-share basis, diluted EPS was $1.33, which connects the reported earnings outcome with the company’s diluted share count. Diluted EPS increased by 62.2% from $0.82 in fiscal 2024, showing how the earnings change reached shareholders on a per-share basis. Revenue equaled 0.69x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

After reported cost of revenue, the company retained $6.04B as gross profit before recognizing operating expenses and other items. Gross margin was 19.4%, so that share of each revenue unit remained after the cost of revenue reported for the period. Operations produced $1.72B of income after the reported operating expense base, before the remaining non-operating and tax effects. Operating margin measured 5.5%, showing the portion of revenue preserved after the full set of operating costs. The bottom-line result was net income of $699.00M, after the operating, financing, tax, and other items recognized for the period. Measured against reported revenue, net income produced a 2.2% margin after operating costs and the remaining recognized items. Pretax income was $959.00M, isolating the reported earnings outcome before the income-tax provision recognized for the fiscal year. The pretax margin was 3.1%, relating income before taxes directly to revenue. Income tax expense totaled $260.00M, providing the reported tax component that separates pretax and after-tax earnings. The income-tax provision equaled 27.1% of pretax income, showing the tax burden absorbed by the year’s earnings.

Liquidity and Capital Structure

The company held $45.16B of assets against $26.80B of liabilities and $18.35B of equity, revealing how the asset base was financed. The near-term balance sheet paired $10.44B of current assets with $7.06B of current liabilities at the reporting date. The current ratio was 1.48x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. Reported cash and equivalents were $892.00M, separating immediately recognizable cash resources from the rest of the current-asset base. Cash and equivalents represented 12.6% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. Total debt was $13.57B, establishing the amount of borrowing carried within the company’s capital structure. Against book equity, debt measured 0.74x, placing the company’s financial leverage in clear balance-sheet terms. Debt represented 30.0% of total assets, placing borrowing in the context of the company’s full resource base. The liabilities-to-assets relationship was 59.4%, placing reported obligations against the full positive asset balance. Measured against total assets, cash and equivalents represented 2.0%, a balance-sheet composition measure rather than a liquidity forecast.

Cash Flow and Earnings Quality

The company reported $3.39B of operating cash flow, a cash inflow that shows the cash generated by operations. Operating cash flow equaled 4.85x of net income, showing how strongly accounting earnings converted into cash from operations. The cash-flow statement records $2.19B of capital expenditures, the investment amount considered after operating cash generation. Capital expenditures represented 64.6% of operating cash flow, leaving the remainder available as free cash flow. Free cash flow came to $1.20B, leaving a positive amount after capital expenditures. The free-cash-flow margin was 3.8%, measuring cash remaining after capital spending against revenue. Measured against total assets, free cash flow represented 2.7%, showing the cash productivity of the company’s assets.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.