Smurfit Westrock Plc
- Open
- 45.70
- Day high
- 45.99
- Day low
- 44.98
- Prev close
- 45.36
- Volume
- 106K
- Mkt cap
- $23.6B
- P/E (TTM)
- 47.4
- EPS (TTM)
- $0.95
- P/B
- 1.3
- P/S
- 0.8
- Yield
- 3.01%
- Per share
- $1.36
Smurfit Westrock Plc (SW) is a Consumer Cyclical company listed on NYSE. The stock is down 2% over the past year. Drillr has 1 published research article covering SW.
Smurfit Westrock Plc (SW) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 8 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
SW earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 29, 2026 | $0.40 | $0.35 | -13.4% | $8.0B | +0.4% |
| Apr 30, 2026 | $0.36 | $0.33 | -8.3% | $7.7B | +1.9% |
| Feb 11, 2026 | $0.46 | $0.34 | -26.1% | $6.5B | -15.8% |
| Oct 29, 2025 | $0.68 | $0.58 | -14.7% | $8.0B | +4.9% |
| Jul 30, 2025 | $0.59 | $0.45 | -24.2% | $7.9B | +0.0% |
| May 1, 2025 | $0.67 | $0.73 | +9.4% | $7.6B | -1.4% |
| Feb 12, 2025 | $0.65 | $0.34 | -47.5% | $7.5B | -2.3% |
| Oct 30, 2024 | $0.73 | $0.48 | -34.4% | $7.7B | -5.3% |
| Jun 7, 2024 | — | $0.68 | — | $2.7B | — |
| Dec 30, 2023 | — | $0.23 | — | $3.2B | — |
| Sep 30, 2023 | — | $0.88 | — | $2.8B | — |
SW insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 18, 2026 | Bowles Kendirector, officer: Executive VP and Group CFO | Grant | 234 | — |
| Aug 18, 2026 | SMURFIT ANTHONY P Jdirector, officer: President and Group CEO | Grant | 784 | — |
| Aug 18, 2026 | Page Ireneofficer: Chief Accounting Officer | Grant | 29 | — |
| Aug 18, 2026 | Mayer Saverioofficer: See remarks | Grant | 195 | — |
| Aug 18, 2026 | Henao Alvaroofficer: See remarks | Grant | 67 | — |
| Aug 18, 2026 | Garren Benofficer: See remarks | Grant | 71 | — |
| Aug 18, 2026 | Sellier Laurentofficer: See remarks | Grant | 234 | — |
| Jun 12, 2026 | Sellier Laurentofficer: See remarks | Grant | 359 | — |
| Jun 12, 2026 | Page Ireneofficer: Chief Accounting Officer | Grant | 163 | — |
| Jun 12, 2026 | Page Ireneofficer: Chief Accounting Officer | Grant | 25 | — |
| Jun 12, 2026 | Bowles Kendirector, officer: Executive VP and Group CFO | Grant | 490 | — |
| Jun 12, 2026 | Bowles Kendirector, officer: Executive VP and Group CFO | Grant | 150 | — |
| Jun 12, 2026 | SMURFIT ANTHONY P Jdirector, officer: President and Group CEO | Grant | 975 | — |
| Jun 12, 2026 | SMURFIT ANTHONY P Jdirector, officer: President and Group CEO | Grant | 521 | — |
| Jun 12, 2026 | FergusonMchugh MaryLynndirector | Grant | 51 | — |
Source: SW SEC Form 4 filings, latest Aug 18, 2026. For informational purposes only — not investment advice.
See the full SW insider & 13F page →Smurfit Westrock Plc company profile
Overview
Smurfit Westrock Plc (NYSE:SW) is a global packaging company formed through the merger of Irish packaging giant Smurfit Kappa and American containerboard producer WestRock, which completed on July 5, 2024. The combined entity represents the world's largest publicly traded packaging company, with operations spanning 40 countries and employing over 100,000 people. Originally founded in 1934, the company is headquartered in Dublin, Ireland, and trades on the New York Stock Exchange following its public listing in July 2024.
Business
Smurfit Westrock operates in the packaging and containerboard industry, manufacturing paper-based packaging solutions that protect and transport goods across the global economy. The packaging industry serves as a critical link in supply chains, converting raw materials like recycled paper and virgin fiber into containers that enable commerce. The company's operations are organized into three main geographic segments: North America (approximately 60% of revenue): This segment produces containerboard - the corrugated cardboard material used to make shipping boxes - at large paper mills, then converts this material into corrugated containers at converting facilities. Containerboard consists of an inner corrugated medium sandwiched between outer linerboard layers, creating the familiar corrugated cardboard used for e-commerce shipments and industrial packaging. The segment also manufactures consumer packaging products like folding cartons for retail goods. Europe, Middle East, Africa and Asia-Pacific (EMEA/APAC) (approximately 35% of revenue): Similar to North America, this segment operates integrated mill and converting operations, producing both the raw containerboard and finished corrugated packaging. The European operations have historically focused more on consumer packaging applications and innovative packaging solutions. Latin America (approximately 5% of revenue): This smaller but highly profitable segment serves regional markets with corrugated packaging solutions, benefiting from strong local market positions and favorable cost structures. The company also produces specialty paper products including consumer packaging board for food and beverage applications, sack paper for industrial bags, and various other paper grades. Additionally, Smurfit Westrock manufactures packaging machinery and equipment used in its own operations and sold to third parties.
Revenue model
Smurfit Westrock generates revenue primarily through product sales of containerboard and converted packaging products to industrial and consumer goods companies. The business model centers on vertical integration - the company produces raw containerboard at its paper mills, then converts much of this material into finished corrugated boxes and packaging at downstream converting facilities. Revenue streams include: 1. Integrated packaging sales where the company sells finished corrugated containers to customers like e-commerce companies, food manufacturers, and consumer goods producers. 2. Containerboard sales to third-party converters who purchase the raw material to make their own packaging. 3. Consumer packaging sales of folding cartons and specialty packaging to retail brands. The company's customers span multiple industries, with significant exposure to food and beverage, e-commerce, retail, consumer goods, and industrial markets. E-commerce growth has been a particular driver, as online shopping requires more packaging per transaction compared to traditional retail. Several factors influence the company's margins: Raw material costs, particularly recycled fiber (old corrugated containers) and energy, represent major input costs that fluctuate with commodity cycles. Containerboard pricing follows industry supply-demand dynamics and can be volatile. Integration levels - the percentage of internally-produced containerboard used in the company's own converting operations - significantly impact profitability, as integrated operations capture more value chain margin. Capacity utilization at both mills and converting facilities affects fixed cost absorption. Transportation costs impact competitiveness since packaging is relatively low-value, high-volume. Finally, customer mix matters, as some applications like e-commerce packaging command premium pricing compared to commodity industrial packaging.
Competitive moat
Smurfit Westrock's competitive position rests on several defensive characteristics, though the packaging industry is inherently commodity-like with limited differentiation. The company's primary moat comes from vertical integration and scale advantages. Operating large, efficient paper mills requires substantial capital investment and creates barriers to entry, while the company's integrated mill-to-box model provides cost advantages and supply chain control that smaller, non-integrated competitors cannot match. Geographic diversification provides some insulation from regional economic cycles, and the company's strong positions in key markets like Europe and Latin America offer local competitive advantages. The essential nature of packaging creates relatively stable demand - goods must be packaged and shipped regardless of economic conditions, though volumes fluctuate with economic activity. However, the moat is moderate at best. Packaging is largely a commodity business where customers primarily compete on price and service rather than product innovation. Substitution risks exist from alternative packaging materials, though paper-based packaging benefits from sustainability trends. Customer concentration in some segments gives large buyers significant negotiating power. The industry faces secular challenges from digitization reducing demand for some paper grades, though corrugated packaging benefits from e-commerce growth. Competition comes from other large integrated producers like International Paper and Packaging Corporation of America in North America, plus numerous regional players globally. The recent merger creating Smurfit Westrock was partly defensive, combining two companies facing individual competitive pressures into a larger, more diversified entity better positioned to compete with industry leaders.
Risks & safety
The company presents a moderate margin of safety with manageable but elevated financial risks following the large merger. Liquidity and Solvency: - Cash position of $797 million provides reasonable liquidity buffer - Current ratio of 1.43 indicates adequate short-term liquidity - Debt-to-equity ratio of 0.80 represents moderate leverage, elevated due to merger financing - Free cash flow turned negative at -$242 million in Q1 2025, primarily due to integration costs and capital investments Valuation Metrics: - EV/EBITDA of 7.6x appears reasonable for a cyclical industrial company - Price-to-earnings ratio of 14.9x suggests modest valuation - Price-to-book ratio of 1.28x indicates trading near tangible book value Other Considerations: - Large asset base of $44.6 billion provides substantial tangible backing - Cyclical industry creates earnings volatility risk - Integration execution risk from massive merger still being realized - Commodity input cost exposure creates margin pressure risk
Recent development
The most significant recent development has been the transformational merger between Smurfit Kappa and WestRock completed in July 2024, creating the world's largest publicly traded packaging company. Management has identified $400 million in hard synergies to be realized by end of 2025, with potential for an additional $400 million in operational improvements over the following 18-24 months. Integration initiatives have focused on cultural alignment through decentralized management, empowering local plant-level operations while capturing scale benefits. The company has eliminated over 1,000 positions and implemented more than 140 quick-win projects in North America expected to deliver $50 million in EBITDA benefits. Capacity rationalization represents another key strategic move, with announced mill closures totaling nearly 600,000 tons of capacity expected to generate $50-60 million in annual EBITDA benefits while improving integration levels. The company has also authorized investment in 25 new converting machines for 2026 to modernize and optimize its asset base. Commercial strategy evolution has shifted toward a "value over volume" approach, moving away from commodity-focused pricing to more differentiated customer solutions. This includes emphasis on individual profit center accountability rather than blended margin management, and leveraging the combined company's innovation capabilities in sustainable packaging solutions. Geographic optimization efforts include supply chain adjustments to mitigate potential tariff impacts, particularly concerning Mexican agricultural packaging exports to the US and Canadian containerboard shipments.
SW company profile · for informational purposes only — not investment advice.
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