International Paper vs Smurfit Westrock
Smurfit Westrock reported revenue of $31.2 billion in fiscal 2025, 1.3 times International Paper's $23.6 billion in fiscal 2025. International Paper's revenue grew 49.2% in its latest year, and Smurfit Westrock's grew 47.7%. Free cash flow was −$159 million at International Paper and $1.2 billion at Smurfit Westrock.
Side by side
| International Paper | Smurfit Westrock | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $23.6B | $31.2B |
| Revenue growth | 49.2% | 47.7% |
| Revenue growth a year, last 5 years | 6.1% | — |
| Gross margin | 29.6% | 19.4% |
| Operating margin | — | 5.5% |
| Net margin | −14.9% | 2.2% |
| Free cash flow | −$159M | $1.2B |
| Free cash flow margin | −0.7% | 3.9% |
| Return on capital | −12.3% | 4.1% |
| Net debt to EBITDA | — | 3.0x |
| Dividends and buybacks | $1.0B | $900M |
| Change in diluted share count | 42.8% | 35.2% |
| Last close | $33.40 | $42.24 |
| P/E at the last close | — | 44.5× |
| Insider trades, last 12 months | bought $4.3 million, sold $1.8 million | sold $3.4 million |
| Piotroski F-score | 4 of 9 | 5 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
International PaperSmurfit Westrock
Operating margin
Percent of revenue
International PaperSmurfit Westrock
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
International PaperSmurfit Westrock
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the International Paper and Smurfit Westrock pages.