Smurfit Westrock (SW) 10-K Summaries & Annual Filing History
Review Smurfit Westrock Plc (SW) 10-K filings from 2023 through the latest annual report, including business, financial performance, risks, and liquidity.
Key takeaway
Year ended Dec 31, 2025 · FY2025 10-K
The company filed its annual report reflecting a period of significant revenue growth and positive profitability. The filing highlights risks from macroeconomic trends and geopolitical developments.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$31.2B
Revenue reported for the fiscal year.
Operating income
$1.7B
Income from operations reported for the year.
Net income
$699M
Net income reported for the year.
Operating cash flow
$3.4B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2022 | $13.5B | n/a |
| Dec 31, 2023 | $12.1B | -10.5% |
| Dec 31, 2024 | $21.1B | +74.6% |
| Dec 31, 2025 | $31.2B | +47.7% |
Business overview
The company is a paper-based packaging manufacturer, selling containerboard, corrugated containers, paperboard, and consumer packaging. Demand for its products is closely tied to overall economic growth and industrial production.
Financial performance
Revenue increased compared to the prior year. Operating income and net income were positive, and operating cash flow was substantial.
Material risks
The company's operations are affected by macroeconomic factors beyond its control, including inflation, pandemics, recessions, and geopolitical developments such as tariffs. These factors can disrupt normal demand patterns.
Liquidity and capital
The filing indicates that the company generated positive operating cash flow, which supports its liquidity. No specific capital allocation plans were discussed in the provided context.
What to watch
Investors should monitor the impact of tariffs and trade policies on the company's sales and profitability.