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SW Smurfit Westrock

FY2025 10-K
Filed: Feb 27, 2026
Materials
Paperboard Containers & BoxesSEC EDGAR
Smurfit Westrock Overview

Smurfit Westrock (SW) filed its fiscal year 2025 10-K annual report with the SEC on Feb 27, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.

AI Filing Analysis
FY2025 10-K

Business Overview

  • • Global scale via July 2024 Smurfit Kappa/WestRock merger; first full-year 10-K as combined entity with ~97,000 employees across three segments
  • • North America 58.5% of net sales, Europe MEA/APAC 34.8%, LATAM 6.7%; corrugated shipments: 100B sq ft NA, 96.8B sq ft Europe, 23B sq ft LATAM
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Management Discussion & Analysis

  • • Net sales $31,179M, up $10,070M (+48% YoY); $9,845M from WestRock acquisition; organic growth only $225M
  • • Operating margin 5.5% vs 4.8% (operating profit $1,719M vs $1,007M); effective tax rate improved to 27.1% from 43.0%
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Risk Factors

  • • Total debt $13.8B as of Dec 31, 2025; variable-rate portion creates rising interest cost exposure amid elevated rates
  • • Antitrust class action filed Jul 29, 2025 in U.S. District Court for Northern District of Illinois alleging violations of U.S. antitrust laws
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Financial Summary
XBRL

Revenue

$31.2B

Net Income

$699M

Gross Margin

19.4%

Operating Margin

5.5%

Net Margin

2.2%

ROE

3.8%

Total Assets

$45.2B

EPS (Diluted)

$1.33

Operating Cash Flow

$3.4B

Source: XBRL data from Smurfit Westrock FY2025 10-K filing on SEC EDGAR. All figures in USD.

Other Smurfit Westrock Annual Reports

FY2024 10-K

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