Smurfit Westrock Past Earnings Performance
Past criteria checks 0/6
Smurfit Westrock's earnings have been declining at an average annual rate of -11.9%, while the Packaging industry saw earnings declining at 1.7% annually. Revenues have been growing at an average rate of 24.6% per year. Smurfit Westrock's return on equity is 2.1%, and it has net margins of 1.2%.
Key information
-11.92%
Earnings growth rate
-22.65%
EPS growth rate
| Packaging Industry Growth | 12.01% |
| Revenue growth rate | 24.60% |
| Return on equity | 2.10% |
| Net Margin | 1.22% |
| Last Earnings Update | 31 Mar 2026 |
Recent past performance updates
Recent updates
Narrative Update • Jun 02
SW: Single NYSE Listing And Lower P/E Assumptions Will Support Upside
Analysts have adjusted their fair value estimate for Smurfit Westrock to $61.89 from $67.91. This change reflects updated views on the discount rate, revenue growth, profit margin, and future P/E assumptions.
Narrative Update • May 18
SW: Quebec Mill Closures And Ongoing Dividend Will Support Future Upside
Analysts have adjusted their price target for Smurfit Westrock slightly lower to about $53.68 from around $53.89, reflecting updated assumptions for the discount rate, revenue growth, profit margin and future P/E that largely offset one another. Valuation Changes Fair Value: Updated slightly lower to about $53.68 from around $53.89.Narrative Update • May 02
SW: Quebec Mill Closures And Ongoing Dividend Will Support Future Upside
Analysts have trimmed their average Smurfit Westrock price target from about $55.13 to roughly $53.89, citing updated assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E. What's in the News Smurfit Westrock plans to permanently close one of the paper machines at its La Tuque, Quebec, mill, which has an annual production capacity of 127,000 tons of solid bleached sulfate paperboard, as part of efforts to refine its SBS portfolio and support the long term competitiveness of its paperboard operations (Key Developments).Seeking Alpha • May 02
Smurfit Westrock: Demand Inflection And Pricing Power Support Upside Despite Near-Term Pressure
Summary Revenues were slightly ahead of expectations, while EBITDA missed due to weather and cost pressures; underlying demand trends improved into April with order books strengthening materially. SW's value-over-volume strategy, price increases, and ongoing optimization support downside protection and margin expansion targets. Solid new customer momentum and announced price increases in North America and Europe should support margin recovery. Even on conservative assumptions, the stock offers > 30% upside with a ~4.5% yield. There is also a clear path to margin expansion by 2030. Read the full article on Seeking AlphaNarrative Update • Apr 17
SW: Cost Resets Through Quebec Closures And Reliable Dividend Will Support Future Upside
Analysts have adjusted Smurfit Westrock's price target from about $59.07 to $55.13. This change reflects updated assumptions around revenue growth, profit margins and a slightly different future P/E multiple.Narrative Update • Apr 02
SW: Mill Closures And Higher Future P/E Will Support Upside Potential
Analysts now see Smurfit Westrock's fair value at about $67.91 per share, compared with roughly $66.89 previously, reflecting updated views on the discount rate, revenue growth, profit margin and future P/E assumptions. What's in the News Smurfit Westrock plans to permanently close one of the paper machines at its La Tuque, Quebec, mill, which has an annual capacity of 127,000 tons of solid bleached sulfate, as part of efforts to address scale and cost challenges and support the long term competitiveness of its paperboard operations (Key Developments).Narrative Update • Mar 19
SW: Cost Resets And Reliable Dividend Will Support Future Share Price Momentum
Analysts now place Smurfit Westrock's fair value at $59.07, up from $52.82, reflecting updated views on the discount rate, revenue growth, profit margins, and a higher assumed future P/E multiple. What's in the News Smurfit Westrock plans to permanently close one of the paper machines at its La Tuque, Quebec, mill, which has an annual production capacity of 127,000 tons of solid bleached sulfate paperboard, citing ongoing scale and cost challenges (Key Developments).Narrative Update • Mar 04
SW: Mill Closures And Higher Future P/E Will Support Upside Potential
Analysts have updated their view on Smurfit Westrock with a higher price target, lifting fair value from $63.00 to about $66.89 as they factor in revised assumptions for the discount rate, revenue growth, profit margin and future P/E. What's in the News Smurfit Westrock plans to permanently close one of the paper machines at its La Tuque, Quebec, mill, which has an annual production capacity of 127,000 tons of solid bleached sulfate, citing ongoing scale and cost challenges in that asset (Key Developments).
Narrative Update • Feb 18
SW: Fair Value View Will Weigh Quebec Closures Against Earnings Potential
Analysts have raised their price target on Smurfit WestRock from $44.50 to $51.00. They attribute the higher valuation mainly to a revised future P/E assumption of 20.49x, along with adjusted expectations for revenue growth and profit margins.Analysis Article • Feb 06
Smurfit Westrock's (NYSE:SW) Shareholders Will Receive A Bigger Dividend Than Last Year
The board of Smurfit Westrock Plc ( NYSE:SW ) has announced that it will be paying its dividend of $0.4523 on the 18th...Narrative Update • Feb 04
SW: Dividend Visibility And Margin Resilience Will Support Future Share Price Momentum
Analysts have trimmed their price target on Smurfit Westrock by about €0.21, reflecting minor adjustments to fair value, the discount rate, revenue growth, profit margin and future P/E assumptions in their models. What's in the News The board has approved a quarterly dividend of $0.4523 per ordinary share on Smurfit Westrock plc shares, with payment scheduled for March 18, 2026, to shareholders of record on February 17, 2026 (Key Developments).Narrative Update • Jan 21
SW: Lower Impairment Charges And Margin Resilience Will Support Future Share Price Momentum
Analysts have trimmed their price target for Smurfit Westrock from about $53.73 to roughly $53.04, reflecting updated assumptions for slightly lower revenue growth and profit margins, along with a modestly higher future P/E multiple and a small adjustment to the discount rate. What's in the News Smurfit Westrock reported impairment charges of $58 million for the three months ended September 30, 2025, compared with $2 million for the same period a year earlier (Key Developments).Narrative Update • Jan 06
SW: Fair Value View Will Balance Impairment Risk And Earnings Potential
Analysts have nudged their price target for Smurfit Westrock to €44.50. The update reflects adjusted assumptions around revenue growth at 3.18%, profit margin at 6.18% and a forward P/E of 14.01x, while keeping fair value steady at €44.50.Analysis Article • Dec 28
Is Smurfit Westrock Plc (NYSE:SW) Potentially Undervalued?
Smurfit Westrock Plc ( NYSE:SW ) saw a double-digit share price rise of over 10% in the past couple of months on the...Narrative Update • Dec 15
SW: Rising Margins And Index Inclusion Will Support Future Upside Potential
Analysts have trimmed their price target for Smurfit Westrock by 0.50 dollars to 44.50 dollars, citing lower long term revenue growth expectations, partially offset by improved profit margin forecasts and a reduced future earnings multiple. What's in the News Smurfit Westrock Plc recorded impairment charges of 58 million dollars for the three months ended September 30, 2025, compared with 2 million dollars recorded a year earlier (company filing) Smurfit Westrock Plc (ticker: SW) was added to the FTSE All World Index (USD), expanding its presence in global equity benchmarks (index announcement) Smurfit Westrock Plc (ticker: SWR) was simultaneously dropped from the FTSE All World Index (USD) on the London Stock Exchange, reflecting changes in index constituent listings following its cross market structure (index announcement) Valuation Changes The fair value estimate was lowered slightly to $44.50 from $45.00, reflecting modestly weaker long term assumptions.Narrative Update • Nov 30
SW: Future Index Addition And Margin Resilience Will Boost Share Price Momentum
Analysts have slightly lowered their price target for Smurfit Westrock from $54.57 to $53.73, citing more cautious assumptions around revenue growth and profit margins in their updated outlook. What's in the News Reported $58 million in impairment charges for the quarter ended September 30, 2025, compared to $2 million a year ago (Key Developments).Narrative Update • Nov 16
SW: Future Index Moves And Margin Strength Will Drive Share Price Momentum
Analysts have slightly reduced their price target for Smurfit Westrock from $55.90 to $54.57, citing updated forecasts for the company's growth, margins, and risk profile. What's in the News Reported $58 million impairment charges for the quarter ended September 30, 2025, a significant increase from $2 million a year ago (Key Developments) Added to the FTSE All-World Index (NYSE: SW) (Key Developments) Dropped from the FTSE All-World Index (LSE: SWR) (Key Developments) Valuation Changes Consensus Analyst Price Target has decreased slightly from $55.90 to $54.57.Analysis Article • Nov 15
Smurfit Westrock's (NYSE:SW) Strong Earnings Are Of Good Quality
Smurfit Westrock Plc's ( NYSE:SW ) earnings announcement last week was disappointing for investors, despite the decent...Narrative Update • Nov 01
SW: Expected Margin Expansion Will Drive Future Upside Potential
Analysts have slightly reduced their price target for Smurfit Westrock from $56.03 to $55.90, citing updated assumptions regarding revenue growth, profit margins, and discount rates. What's in the News Reported $58 million in impairment charges for the quarter ended September 30, 2025.Narrative Update • Oct 18
Operational Efficiency And Sustainable Packaging Will Expand Global Markets
Analysts have slightly lowered their price target for Smurfit Westrock to $56.03 from $56.69. They cite updated assumptions for growth rates and profitability as the reason for the change.Analysis Article • Sep 20
Is It Time To Consider Buying Smurfit Westrock Plc (NYSE:SW)?
Smurfit Westrock Plc ( NYSE:SW ) received a lot of attention from a substantial price movement on the NYSE over the...Narrative Update • Sep 16
Operational Efficiency And Sustainable Packaging Will Expand Global Markets
With both the discount rate and consensus revenue growth forecasts essentially unchanged, there is little fundamental shift in outlook for Smurfit Westrock, and as a result, the consensus analyst price target increased only marginally from $56.46 to $56.69. What's in the News Smurfit Westrock was dropped from the Russell 2500 Index.Analysis Article • Sep 02
With Smurfit Westrock Plc (NYSE:SW) It Looks Like You'll Get What You Pay For
With a price-to-earnings (or "P/E") ratio of 70.1x Smurfit Westrock Plc ( NYSE:SW ) may be sending very bearish signals...Analysis Article • Jul 31
Smurfit Westrock (NYSE:SW) Takes On Some Risk With Its Use Of Debt
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Seeking Alpha • Mar 16
Smurfit Westrock: Stock Price Weakness Represents A Clear Buy Opportunity
Summary Smurfit WestRock's stock has declined by 17%, but the merger offers growth potential through synergies and operational efficiencies. A Russia-Ukraine peace deal and International Paper's mill closure could reduce costs and tighten the US market, benefiting Smurfit WestRock. The company's global presence mitigates risks from tariffs and counter-tariffs. Considering Smurfit WestRock valuation vs. peers, the company is a clear buy. Read the full article on Seeking AlphaSeeking Alpha • Nov 06
Smurfit Westrock: Bigger Opportunity To Catch
Summary Smurfit Westrock's merger is a catalyst for growth, driving synergies and enhancing operational efficiencies. It will make Smurfit Westrock a sector champion in disciplined capital allocation. The company might benefit from lower oil prices and has substantial EBITDA sensitivity to energy costs, with recycled paper prices also being a crucial input factor. Smurfit Westrock still trades at a discount vs. peers. Our buy is confirmed. Read the full article on Seeking Alpha
New Narrative • Aug 29
WestRock Merger Sets Stage For Global Packaging Domination Through Innovation And Sustainability
Smurfit WestRock's merger creates the largest listed packaging company, driving synergies, operational efficiencies, and expanding market reach to boost revenues and profitability.Seeking Alpha • Aug 01
Smurfit WestRock Plc: Ready To Rock
Summary The Smurfit-WestRock merger is complete, the combined entity will report financials from Q3 2024. Q2 earnings show a positive EBITDA performance, with the CEO optimistic about the paper industry cycle. Synergies, investments, and valuation suggest potential upside. Our target price is set at $54.4 per share, with 20% upside from here. Read the full article on Seeking AlphaRevenue & Expenses Breakdown
Revenue & Expenses Breakdown
How Smurfit Westrock makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Mar 26 | 31,235 | 380 | 3,778 | 0 |
| 31 Dec 25 | 31,179 | 699 | 3,789 | 0 |
| 30 Sep 25 | 31,138 | 748 | 3,829 | 0 |
| 30 Jun 25 | 30,806 | 352 | 3,873 | 0 |
| 31 Mar 25 | 25,835 | 512 | 3,335 | 0 |
| 31 Dec 24 | 21,109 | 319 | 2,761 | 0 |
| 30 Sep 24 | 16,432 | 221 | 2,287 | 0 |
| 30 Jun 24 | 11,738 | 638 | 1,189 | 0 |
| 31 Mar 24 | 11,783 | 735 | 1,654 | 0 |
| 31 Dec 23 | 12,093 | 825 | 1,621 | 0 |
| 30 Sep 23 | 12,855 | 1,013 | 1,369 | 0 |
| 30 Jun 23 | 13,386 | 923 | 2,649 | 0 |
| 31 Mar 23 | 13,280 | 1,003 | 1,292 | 0 |
| 31 Dec 22 | 13,509 | 1,034 | 1,551 | 0 |
| 30 Sep 22 | 14,569 | 1,117 | 1,311 | 0 |
| 30 Jun 22 | 12,376 | 990 | 2,318 | 0 |
| 31 Mar 22 | 12,125 | 898 | 2,345 | 0 |
| 31 Dec 21 | 11,933 | 802 | 1,444 | 0 |
| 30 Sep 21 | 11,068 | 727 | 2,319 | 0 |
| 30 Jun 21 | 10,681 | 683 | 2,347 | 0 |
| 31 Mar 21 | 10,279 | 657 | 2,311 | 0 |
| 31 Dec 20 | 10,420 | 666 | 2,399 | 0 |
| 30 Sep 20 | 10,060 | 566 | 2,290 | 0 |
| 30 Jun 20 | 9,697 | 473 | 2,181 | 0 |
| 31 Mar 20 | 9,740 | 494 | 2,150 | 0 |
| 31 Dec 19 | 10,149 | 534 | 2,199 | 0 |
| 30 Sep 19 | 9,913 | -72 | 2,119 | 0 |
| 30 Jun 19 | 10,393 | -691 | 2,192 | 0 |
| 31 Mar 19 | 10,144 | -703 | 2,130 | 0 |
| 31 Dec 18 | 10,249 | -740 | 2,142 | 0 |
| 30 Sep 18 | 10,326 | -67 | 2,151 | 0 |
| 30 Jun 18 | 10,225 | 626 | 2,125 | 0 |
| 31 Mar 18 | 10,652 | 604 | 2,203 | 0 |
| 31 Dec 17 | 10,272 | 500 | 2,122 | 0 |
| 30 Sep 17 | 9,944 | 470 | 2,042 | 0 |
| 30 Jun 17 | 9,529 | 465 | 1,936 | 0 |
| 31 Mar 17 | 8,841 | 457 | 1,804 | 0 |
| 31 Dec 16 | 8,588 | 467 | 1,748 | 0 |
| 30 Sep 16 | 9,197 | 526 | 1,867 | 0 |
| 30 Jun 16 | 9,064 | 492 | 1,846 | 0 |
| 31 Mar 16 | 9,280 | 477 | 1,906 | 0 |
| 31 Dec 15 | 8,807 | 434 | 1,821 | 0 |
| 30 Sep 15 | 9,071 | 338 | 1,905 | 0 |
| 30 Jun 15 | 9,058 | 299 | 1,919 | 0 |
Quality Earnings: SW has a large one-off loss of $717.0M impacting its last 12 months of financial results to 31st March, 2026.
Growing Profit Margin: SW's current net profit margins (1.2%) are lower than last year (2%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: SW's earnings have declined by 11.9% per year over the past 5 years.
Accelerating Growth: SW's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: SW had negative earnings growth (-25.8%) over the past year, making it difficult to compare to the Packaging industry average (-1.6%).
Return on Equity
High ROE: SW's Return on Equity (2.1%) is considered low.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/10 18:00 |
| End of Day Share Price | 2026/06/10 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Smurfit Westrock Plc is covered by 25 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Pallav Mittal | Barclays |
| Gaurav Jain | Barclays |
| Eoghan Reid | Berenberg |