Smurfit WestRock Plc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Smurfit WestRock Plc reported revenue of $31.2B (+47.7% year on year) and net income of $699.0M (+119.1% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY |
|---|---|---|
| Net sales | $31.2B | $21.1B |
| Cost of goods sold | ($25.1B) | ($16.9B) |
| Gross profit | $6.0B | $4.2B |
| Selling, general and administrative expenses | ($3.8B) | ($2.8B) |
| Impairment and restructuring costs | ($385.0M) | — |
| Transaction and integration-related expenses associated with the Combination | ($120.0M) | ($395.0M) |
| Operating profit | $1.7B | $1.0B |
| Interest expense, net | ($729.0M) | ($398.0M) |
| Pension and other postretirement non-service income (expense), net | $30.0M | ($24.0M) |
| Other expense, net | ($61.0M) | ($25.0M) |
| Income before income taxes | $959.0M | $560.0M |
| Income tax expense | ($260.0M) | ($241.0M) |
| Net income | $699.0M | $319.0M |
| Net income attributable to noncontrolling interests | $0 | $0 |
| Net income attributable to common shareholders | $699.0M | $319.0M |
| Basic earnings per share attributable to common shareholders (in USD per share) | $1.34 | $0.83 |
| Diluted earnings per share attributable to common shareholders (in USD per share) | $1.33 | $0.82 |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Net sales | $8.0B | $7.7B | $8.0B | $7.9B |
| Cost of goods sold | ($6.6B) | ($6.4B) | ($6.4B) | ($6.4B) |
| Gross profit | $1.4B | $1.3B | $1.6B | $1.5B |
| Selling, general and administrative expenses | ($970.0M) | ($961.0M) | ($963.0M) | ($963.0M) |
| Impairment and restructuring costs | ($119.0M) | ($54.0M) | ($65.0M) | ($280.0M) |
| Transaction and integration-related expenses associated with the Combination | ($1.0M) | $0 | ($15.0M) | ($21.0M) |
| Operating profit | $309.0M | $253.0M | $526.0M | $251.0M |
| Interest expense, net | ($179.0M) | ($166.0M) | ($177.0M) | ($182.0M) |
| Pension and other postretirement non-service income, net | $10.0M | $8.0M | $8.0M | $7.0M |
| Other expense, net | ($12.0M) | ($11.0M) | ($21.0M) | ($18.0M) |
| Income before income taxes | $128.0M | $84.0M | $336.0M | $58.0M |
| Income tax expense | ($40.0M) | ($21.0M) | ($91.0M) | ($84.0M) |
| Net income (loss) | $88.0M | $63.0M | $245.0M | ($26.0M) |
| Net loss (income) attributable to noncontrolling interests | $1.0M | $2.0M | $1.0M | ($2.0M) |
| Net income (loss) attributable to common shareholders | $89.0M | $65.0M | $246.0M | ($28.0M) |
| Basic earnings (loss) per share attributable to common shareholders (in dollars per share) | $0.17 | $0.12 | $0.47 | -$0.05 |
| Diluted earnings (loss) per share attributable to common shareholders (in dollars per share) | $0.17 | $0.12 | $0.47 | -$0.05 |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY |
|---|---|---|
| Cash and cash equivalents (amounts related to consolidated variable interest entities of $3 million and $2 million at December 31, 2025 and December 31, 2024, respectively) | $892.0M | $855.0M |
| Accounts receivable, net (amounts related to consolidated variable interest entities of $876 million and $767 million at December 31, 2025 and December 31, 2024, respectively) | $4.3B | $4.1B |
| Inventories | $3.7B | $3.5B |
| Other current assets | $1.6B | $1.5B |
| Total current assets | $10.4B | $10.1B |
| Property, plant and equipment, net | $23.2B | $22.7B |
| Goodwill arising on Merger | $7.2B | $6.8B |
| Intangibles, net | $1.1B | $1.1B |
| Prepaid pension asset | $616.0M | $635.0M |
| Other non-current assets (amounts related to consolidated variable interest entities of $393 million and $389 million at December 31, 2025 and December 31, 2024, respectively) | $2.6B | $2.5B |
| Total assets | $45.2B | $43.8B |
| Accounts payable | $3.6B | $3.3B |
| Accrued expenses | $601.0M | $715.0M |
| Accrued compensation and benefits | $997.0M | $882.0M |
| Current portion of debt | $346.0M | $1.1B |
| Other current liabilities | $1.5B | $1.4B |
| Total current liabilities | $7.1B | $7.3B |
| Non-current debt due after one year (amounts related to consolidated variable interest entities of $376 million and $8 million at December 31, 2025 and December 31, 2024, respectively) | $13.4B | $12.5B |
| Deferred tax liabilities | $3.3B | $3.6B |
| Pension liabilities and other postretirement benefits, net of current portion | $697.0M | $706.0M |
| Other non-current liabilities (amounts related to consolidated variable interest entities of $335 million and $335 million at December 31, 2025 and December 31, 2024, respectively) | $2.3B | $2.2B |
| Total liabilities | $26.8B | $26.4B |
| Preferred stock, $0.001 par value; 500,000,000 shares authorized; 10,000 shares outstanding | 0 | 0 |
| Common stock, $0.001 par value; 9,500,000,000 shares authorized; 522,310,486 and 520,444,261 shares outstanding at December 31, 2025 and December 31, 2024, respectively | 1.0M | 1.0M |
| Deferred shares, €1 par value; 25,000 shares authorized; Nil and 25,000 shares outstanding at December 31, 2025 and December 31, 2024, respectively | 0 | 0 |
| Treasury stock, at cost; 1,449,320 and 2,037,589 common stock at December 31, 2025 and December 31, 2024, respectively | ($64.0M) | ($93.0M) |
| Capital in excess of par value | $16.1B | $15.9B |
| Accumulated other comprehensive loss | ($348.0M) | ($1.4B) |
| Retained earnings | $2.7B | $3.0B |
| Total shareholders’ equity | $18.3B | $17.4B |
| Noncontrolling interests | $27.0M | $27.0M |
| Total equity | $18.4B | $17.4B |
| Total liabilities and equity | $45.2B | $43.8B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents (amounts related to consolidated variable interest entities of $1 million and $3 million at June 30, 2026 and December 31, 2025, respectively) | $677.0M | $674.0M | $851.0M | $778.0M |
| Accounts receivable, net (amounts related to consolidated variable interest entities of $860 million and $876 million at June 30, 2026 and December 31, 2025, respectively) | $4.9B | $4.6B | $4.7B | $4.8B |
| Inventories | $3.6B | $3.6B | $3.8B | $3.8B |
| Other current assets | $1.6B | $1.7B | $1.6B | $1.6B |
| Total current assets | $10.8B | $10.6B | $10.9B | $11.0B |
| Property, plant and equipment, net | $22.7B | $22.9B | $23.1B | $23.1B |
| Goodwill | $7.2B | $7.2B | $7.2B | $7.2B |
| Intangibles, net | $1.0B | $1.0B | $1.1B | $1.1B |
| Prepaid pension asset | $677.0M | $642.0M | $698.0M | $677.0M |
| Other non-current assets (amounts related to consolidated variable interest entities of $394 million and $393 million at June 30, 2026 and December 31, 2025, respectively) | $2.8B | $2.9B | $2.6B | $2.7B |
| Total assets | $45.2B | $45.2B | $45.6B | $45.7B |
| Accounts payable | $3.5B | $3.3B | $3.3B | $3.4B |
| Accrued expenses | $651.0M | $636.0M | — | — |
| Accrued compensation and benefits | $820.0M | $832.0M | $973.0M | $872.0M |
| Current portion of debt | $931.0M | $980.0M | $798.0M | $1.0B |
| Other current liabilities | $1.6B | $1.5B | $2.3B | $2.3B |
| Total current liabilities | $7.5B | $7.3B | $7.3B | $7.6B |
| Non-current debt due after one year (amounts related to consolidated variable interest entities of $366 million and $376 million at June 30, 2026 and December 31, 2025, respectively) | $13.2B | $13.3B | $13.3B | $13.3B |
| Deferred tax liabilities | $3.4B | $3.4B | $3.5B | $3.5B |
| Pension liabilities and other postretirement benefits, net of current portion | $672.0M | $686.0M | $737.0M | $746.0M |
| Other non-current liabilities (amounts related to consolidated variable interest entities of $336 million and $335 million at June 30, 2026 and December 31, 2025, respectively) | $2.4B | $2.4B | $2.3B | $2.3B |
| Total liabilities | $27.1B | $27.1B | $27.1B | $27.4B |
| Preferred stock, $0.001 par value; 500,000,000 shares authorized; 10,000 shares outstanding | 0 | 0 | 0 | 0 |
| Common stock, $0.001 par value; 9,500,000,000 shares authorized; 524,522,908 and 522,310,486 shares outstanding at June 30, 2026 and December 31, 2025, respectively | 1.0M | 1.0M | 1.0M | 1.0M |
| Treasury stock, at cost; 706,129 and 1,449,320 common stock at June 30, 2026, and December 31, 2025, respectively | ($34.0M) | ($34.0M) | ($65.0M) | ($65.0M) |
| Capital in excess of par value | $16.1B | $16.1B | $16.1B | $16.0B |
| Accumulated other comprehensive loss | ($299.0M) | ($401.0M) | ($347.0M) | ($428.0M) |
| Retained earnings | $2.2B | $2.4B | $2.8B | $2.8B |
| Total shareholders’ equity | $18.0B | $18.1B | $18.4B | $18.3B |
| Noncontrolling interests | $24.0M | $25.0M | $26.0M | $27.0M |
| Total equity | $18.1B | $18.1B | $18.5B | $18.3B |
| Total liabilities and equity | $45.2B | $45.2B | $45.6B | $45.7B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY |
|---|---|---|
| Net income | $699.0M | $319.0M |
| Depreciation, depletion and amortization | $2.5B | $1.5B |
| Cash surrender value increase in excess of premiums paid | ($44.0M) | ($17.0M) |
| Impairment charges | $246.0M | — |
| Share-based compensation expense | $139.0M | $206.0M |
| Deferred income tax benefit | ($190.0M) | ($137.0M) |
| Pension and other postretirement funding more than cost | ($111.0M) | ($55.0M) |
| Other | $32.0M | $28.0M |
| Accounts receivable | $164.0M | ($144.0M) |
| Inventories | $35.0M | $62.0M |
| Other assets | ($2.0M) | ($31.0M) |
| Accounts payable | ($23.0M) | ($273.0M) |
| Income taxes | ($71.0M) | ($5.0M) |
| Accrued liabilities and other | ($32.0M) | $42.0M |
| Net cash provided by operating activities | $3.4B | $1.5B |
| Capital expenditures | ($2.2B) | ($1.5B) |
| Cash paid for purchase of businesses, net of cash acquired | ($6.0M) | ($719.0M) |
| Proceeds from corporate owned life insurance | $26.0M | $5.0M |
| Proceeds from sale of property, plant and equipment | $12.0M | $61.0M |
| Other | $17.0M | $6.0M |
| Net cash used for investing activities | ($2.1B) | ($2.1B) |
| Additions to debt | $2.0B | $5.7B |
| Repayments of debt | ($1.8B) | ($4.3B) |
| Debt issuance costs | ($20.0M) | ($63.0M) |
| Changes in commercial paper, net | ($391.0M) | $1.0M |
| Other debt (repayments) additions, net | ($18.0M) | $2.0M |
| Repayments of finance lease liabilities | ($43.0M) | ($22.0M) |
| Tax paid in connection with shares withheld from employees | -69.0M | -26.0M |
| Purchases of treasury stock | $0 | ($27.0M) |
| Cash dividends paid to shareholders | ($900.0M) | ($650.0M) |
| Other | ($5.0M) | $6.0M |
| Net cash (used for) provided by financing activities | ($1.3B) | $607.0M |
| Effect of exchange rate changes on cash and cash equivalents | $86.0M | ($121.0M) |
| Increase (decrease) in cash and cash equivalents | $37.0M | ($145.0M) |
| Cash and cash equivalents at January 1 | $855.0M | $1.0B |
| Cash and cash equivalents at December 31 | $892.0M | — |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $151.0M | $63.0M | $601.0M | $356.0M |
| Depreciation, depletion and amortization | $1.4B | $728.0M | $1.9B | $1.2B |
| Impairment of assets | $107.0M | $35.0M | — | — |
| Cash surrender value increase in excess of premiums paid | ($25.0M) | ($4.0M) | ($34.0M) | ($20.0M) |
| Share-based compensation expense | $55.0M | $28.0M | $114.0M | $79.0M |
| Deferred income tax benefit | ($105.0M) | ($36.0M) | ($139.0M) | ($127.0M) |
| Pension and other postretirement funding more than cost | ($59.0M) | ($27.0M) | ($83.0M) | ($59.0M) |
| Other | ($1.0M) | ($3.0M) | $21.0M | $6.0M |
| Accounts receivable | ($666.0M) | ($398.0M) | ($249.0M) | ($434.0M) |
| Inventories | $73.0M | $101.0M | ($59.0M) | ($55.0M) |
| Other assets | $24.0M | ($48.0M) | ($19.0M) | ($47.0M) |
| Accounts payable | $95.0M | ($44.0M) | ($142.0M) | ($35.0M) |
| Income taxes | ($49.0M) | ($48.0M) | $8.0M | $9.0M |
| Accrued liabilities and other | ($37.0M) | ($143.0M) | $61.0M | ($9.0M) |
| Net cash provided by operating activities | $969.0M | $204.0M | $2.2B | $1.1B |
| Capital expenditures | ($1.1B) | ($624.0M) | ($1.6B) | ($999.0M) |
| Cash paid for purchase of businesses, net of cash acquired | ($19.0M) | ($18.0M) | ($5.0M) | ($5.0M) |
| Proceeds from corporate owned life insurance | $11.0M | $3.0M | $20.0M | — |
| Proceeds from sale of property, plant and equipment | $19.0M | $9.0M | $15.0M | $0 |
| Other | $3.0M | $3.0M | $15.0M | $8.0M |
| Net cash used for investing activities | ($1.1B) | ($627.0M) | ($1.6B) | ($996.0M) |
| Additions to debt | $48.0M | $48.0M | $510.0M | $498.0M |
| Repayments of debt | ($48.0M) | ($29.0M) | ($146.0M) | ($121.0M) |
| Debt issuance costs | ($4.0M) | ($3.0M) | ($8.0M) | ($6.0M) |
| Changes in commercial paper, net | $446.0M | $507.0M | ($245.0M) | ($18.0M) |
| Other debt additions (repayments), net | $20.0M | $5.0M | ($16.0M) | ($18.0M) |
| Repayments of finance lease liabilities | ($27.0M) | ($14.0M) | ($29.0M) | ($23.0M) |
| Proceeds from re-issuance of shares from treasury stock | 14.0M | 14.0M | — | — |
| Tax paid in connection with shares withheld from employees | -85.0M | -83.0M | -68.0M | -67.0M |
| Cash dividends paid to shareholders | ($474.0M) | ($237.0M) | ($675.0M) | ($450.0M) |
| Other | $1.0M | $1.0M | $3.0M | $1.0M |
| Net cash used for financing activities | ($109.0M) | $209.0M | ($674.0M) | ($204.0M) |
| Effect of exchange rate changes on cash and cash equivalents | $0 | ($4.0M) | $37.0M | $59.0M |
| Decrease in cash and cash equivalents | ($215.0M) | ($218.0M) | ($4.0M) | ($77.0M) |
| Cash and cash equivalents at beginning of period | $892.0M | $892.0M | $855.0M | $855.0M |
| Cash and cash equivalents at end of period | $677.0M | $674.0M | $851.0M | $778.0M |
Smurfit WestRock Plc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.