Cash flow Smurfit Westrock Plc

Equities

SW

IE00028FXN24

Paper Packaging

Market Closed - Nyse Other stock markets 04:00:02 2025-01-22 pm EST			5-day change	1st Jan Change
55.35 ^USD	+0.65%		+4.53%	+2.77%

Jan. 21	Truist Initiates Smurfit Westrock at Buy With $62 Price Target	MT
Jan. 16	Smurfit Westrock plc Announces Executive Changes	CI

65b.4qh-QWrYqFBbYojo1bNt3ASTiSKkauQZseUmLVvCXMs.oOc8NSm14DEQOO-jueQ-tkKj-lHeL68pgYRychq0KaCt2RkvHYn-IWgE2Q

Published financial data: SMURFIT WESTROCK PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	9.05B	8.53B	10.11B	12.82B	12.09B
Total Revenues	9.05B	8.53B	10.11B	12.82B	12.09B
Cost of Goods Sold, Total	6.04B	5.66B	7.02B	8.75B	9.04B
Gross Profit	3B	2.87B	3.09B	4.06B	3.05B
Selling General & Admin Expenses, Total	1.96B	1.96B	2.02B	2.41B	1.65B
Provision for Bad Debts	-	-	-	-	2M
Other Operating Expenses	-	-	-	-	-
Other Operating Expenses, Total	1.96B	1.96B	2.02B	2.41B	1.65B
Operating Income	1.04B	910M	1.07B	1.66B	1.41B
Interest Expense, Total	-170M	-128M	-121M	-150M	-170M
Interest And Investment Income	4M	3M	3M	9M	31M
Net Interest Expenses	-166M	-125M	-118M	-141M	-139M
Income (Loss) On Equity Invest.	2M	1M	2M	3M	-
Currency Exchange Gains (Loss)	-8M	-7M	-3M	-11M	-
Other Non Operating Income (Expenses)	-5M	0	-2M	4M	6M
EBT, Excl. Unusual Items	865M	779M	946M	1.51B	1.27B
Restructuring Charges	-	-35M	-	-14M	-
Merger & Related Restructuring Charges	-1M	-	-1M	-1M	-78M
Impairment of Goodwill	-46M	-	-	-85M	-
Gain (Loss) On Sale Of Investments	1M	-1M	2M	-2M	-
Gain (Loss) On Sale Of Assets	-	-	-	-	-10M
Asset Writedown	-8M	-	-	-66M	-5M
Legal Settlements	-	-	-	-	-
Other Unusual Items	-134M	5M	-34M	-49M	-42M
EBT, Incl. Unusual Items	677M	748M	913M	1.29B	1.14B
Income Tax Expense	193M	201M	234M	348M	312M
Earnings From Continuing Operations	484M	547M	679M	945M	826M
Net Income to Company	484M	547M	679M	945M	826M
Minority Interest	-8M	-2M	-	-1M	-1M
Net Income - (IS)	476M	545M	679M	944M	825M
Net Income to Common Incl Extra Items	476M	545M	679M	944M	825M
Net Income to Common Excl. Extra Items	476M	545M	679M	944M	825M
Per Share Items
Net EPS - Basic	2.02	2.28	2.64	3.66	3.19
Basic EPS - Continuing Operations	2.02	2.28	2.64	3.66	3.19
Basic Weighted Average Shares Outstanding	236M	239M	257M	258M	258M
Net EPS - Diluted	2	2.26	2.61	3.62	3.17
Diluted EPS - Continuing Operations	2	2.26	2.61	3.62	3.17
Diluted Weighted Average Shares Outstanding	238M	241M	260M	261M	260M
Normalized Basic EPS	2.26	2.03	2.3	3.65	3.08
Normalized Diluted EPS	2.24	2.01	2.27	3.61	3.05
Dividend Per Share	0.28	1.96	1.25	1.39	1.68
Payout Ratio	50	47.71	44.48	35.17	47.39
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	1.48B	1.37B	1.52B	2.17B	1.99B
EBITA	1.07B	938M	1.09B	1.68B	1.46B
EBIT	1.04B	910M	1.07B	1.66B	1.41B
EBITDAR	1.5B	1.39B	1.54B	2.2B	2.15B
Effective Tax Rate - (Ratio)	28.51	26.87	25.63	26.91	27.42
Current Domestic Taxes	7M	21M	28M	31M	44M
Current Foreign Taxes	193M	155M	237M	318M	296M
Total Current Taxes	200M	176M	265M	349M	340M
Deferred Domestic Taxes	-	-	-	-	2M
Deferred Foreign Taxes	-	-	-	-	-30M
Total Deferred Taxes	-7M	25M	-31M	-1M	-28M
Normalized Net Income	533M	485M	591M	943M	795M
Interest Capitalized	2M	1M	2M	3M	10M
Interest on Long-Term Debt	133M	100M	129M	104M	1M
Non-Cash Pension Expense	21M	4M	3M	9M	43M
Supplemental Operating Expense Items
Selling and Marketing Expenses	730M	725M	823M	961M	-
General and Administrative Expenses	1.22B	1.23B	1.2B	1.44B	-
Research And Development Expense From Footnotes	8M	8M	7M	8M	10M
Net Rental Expense, Total	19M	25M	28M	37M	165M
Imputed Operating Lease Interest Expense	7.23M	7.41M	7.84M	12.02M	58.4M
Imputed Operating Lease Depreciation	11.77M	17.59M	20.16M	24.98M	107M
Maintenance & Repair Expenses, Total	430M	419M	452M	527M	-
Stock-Based Comp., Other (Total)	41M	37M	69M	65M	66M
Total Stock-Based Compensation	41M	37M	69M	65M	66M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	189M	891M	855M	777M	1B
Total Cash And Short Term Investments	189M	891M	855M	777M	1B
Accounts Receivable, Total	1.4B	1.34B	1.79B	1.91B	1.81B
Other Receivables	166M	118M	248M	366M	-
Total Receivables	1.57B	1.46B	2.04B	2.28B	1.81B
Inventory	819M	773M	1.05B	1.23B	1.2B
Prepaid Expenses	66M	80M	101M	124M	-
Restricted Cash	14M	10M	14M	11M	-
Other Current Assets, Total	24M	49M	18M	91M	561M
Total Current Assets	2.68B	3.26B	4.07B	4.51B	4.57B
Gross Property Plant And Equipment	8.56B	9.23B	10.2B	10.84B	12.68B
Accumulated Depreciation	-4.19B	-4.98B	-5.49B	-5.77B	-6.51B
Net Property Plant And Equipment	4.37B	4.26B	4.71B	5.08B	6.16B
Long-term Investments	26M	23M	24M	26M	-
Goodwill	2.38B	2.34B	2.51B	2.46B	2.84B
Other Intangibles, Total	233M	208M	211M	217M	218M
Deferred Tax Assets Long-Term	185M	172M	149M	141M	140M
Other Long-Term Assets, Total	46M	28M	28M	58M	116M
Total Assets	9.92B	10.29B	11.71B	12.48B	14.05B
Liabilities
Accounts Payable, Total	1.02B	978M	1.42B	1.41B	1.73B
Accrued Expenses, Total	695M	728M	937M	997M	716M
Short-term Borrowings	17M	15M	28M	17M	16M
Current Portion of Long-Term Debt	93M	56M	46M	70M	59M
Current Portion of Leases	78M	83M	91M	93M	116M
Current Income Taxes Payable	13M	7M	27M	49M	-
Other Current Liabilities	300M	363M	279M	391M	371M
Total Current Liabilities	2.22B	2.23B	2.83B	3.03B	3.01B
Long-Term Debt	3.2B	2.86B	3.3B	3.32B	3.64B
Long-Term Leases	299M	263M	289M	281M	295M
Unearned Revenue Non Current	18M	21M	24M	26M	-
Pension & Other Post Retirement Benefits	899M	853M	630M	534M	537M
Deferred Tax Liability Non Current	175M	191M	175M	190M	280M
Other Non Current Liabilities	124M	90M	70M	67M	116M
Total Liabilities	6.93B	6.51B	7.32B	7.44B	7.88B
Additional Paid In Capital	1.99B	2.65B	2.65B	2.65B	3.58B
Retained Earnings	615M	917M	1.47B	2.14B	3.52B
Treasury Stock	-42M	-49M	-59M	-65M	-91M
Comprehensive Income and Other	393M	256M	319M	301M	-847M
Total Common Equity	2.95B	3.77B	4.38B	5.02B	6.16B
Minority Interest	41M	13M	13M	13M	16M
Total Equity	2.99B	3.78B	4.39B	5.04B	6.17B
Total Liabilities And Equity	9.92B	10.29B	11.71B	12.48B	14.05B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	236M	256M	257M	257M	258M
ECS Total Common Shares Outstanding	236M	256M	257M	257M	258M
Book Value / Share	12.49	14.71	17.03	19.52	23.83
Tangible Book Value	336M	1.22B	1.66B	2.35B	3.1B
Tangible Book Value Per Share	1.42	4.75	6.45	9.14	11.99
Total Debt	3.69B	3.28B	3.75B	3.78B	4.13B
Net Debt	3.5B	2.38B	2.9B	3B	3.13B
Debt Equivalent of Unfunded Proj. Benefit Obligation	898M	851M	628M	515M	427M
Debt Equivalent Oper. Leases	152M	200M	224M	296M	1.32B
Minority Interest, Total (Incl. Fin. Div)	41M	13M	13M	13M	16M
Equity Method Investments, Total	16M	12M	13M	16M	-
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	420M	393M	528M	625M	637M
Inventories - Work In Process, Total	39M	33M	47M	57M	52M
Inventories - Finished Goods, Total	360M	347M	471M	549M	514M
Land - (BS)	384M	377M	387M	423M	2.76B
Buildings, Total	1.36B	1.47B	1.63B	1.8B	-
Machinery, Total	5.9B	6.71B	7.32B	7.57B	8.86B
Full Time Employees	46K	46K	48K	48K	47K
Accumulated Allowance for Doubtful Accounts (Supple)	32M	53M	44M	52M	56M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	476M	545M	679M	944M	825M
Depreciation & Amortization - CF	496M	514M	513M	581M	528M
Amortization of Goodwill and Intangible Assets - (CF)	32M	28M	25M	29M	52M
Depreciation & Amortization, Total	528M	542M	538M	610M	580M
Amortization of Deferred Charges, Total - (CF)	13M	15M	15M	20M	-
(Gain) Loss From Sale Of Asset	-3M	-2M	-8M	-7M	-
(Gain) Loss on Sale of Investments - (CF)	-1M	1M	-2M	2M	-
Asset Writedown & Restructuring Costs	54M	-	-	151M	5M
(Income) Loss On Equity Investments - (CF)	-2M	-1M	-2M	-3M	-
Stock-Based Compensation (CF)	39M	35M	69M	65M	66M
Other Operating Activities, Total	-46M	30M	9M	41M	-76M
Change In Accounts Receivable	52M	22M	-492M	-238M	245M
Change In Inventories	40M	14M	-246M	-187M	220M
Change In Accounts Payable	-44M	59M	624M	75M	-260M
Change In Income Taxes	-	-	-	-	-99M
Change in Other Net Operating Assets	57M	-13M	-198M	-21M	53M
Cash from Operations	1.16B	1.25B	986M	1.45B	1.56B
Capital Expenditure	-612M	-493M	-594M	-873M	-929M
Sale of Property, Plant, and Equipment	7M	5M	16M	12M	17M
Cash Acquisitions	-113M	-2M	-448M	-104M	-33M
Divestitures	-	-	33M	-	-
Sale (Purchase) of Intangible assets	-20M	-21M	-21M	-17M	-
Investment in Marketable and Equity Securities, Total	-	-	-	-1M	-
Other Investing Activities, Total	3M	13M	5M	16M	14M
Cash from Investing	-735M	-498M	-1.01B	-967M	-931M
Long-Term Debt Issued, Total	1.57B	-	999M	8M	88M
Total Debt Issued	1.57B	-	999M	8M	88M
Long-Term Debt Repaid, Total	-1.83B	-420M	-686M	-103M	-143M
Total Debt Repaid	-1.83B	-420M	-686M	-103M	-143M
Issuance of Common Stock	2M	648M	-	-	-
Repurchase of Common Stock	-23M	-16M	-22M	-69M	-30M
Common Dividends Paid	-238M	-260M	-302M	-332M	-391M
Common & Preferred Stock Dividends Paid	-238M	-260M	-302M	-332M	-391M
Other Financing Activities, Total	-107M	-16M	-3M	0	-3M
Cash from Financing	-629M	-64M	-14M	-496M	-479M
Foreign Exchange Rate Adjustments	-17M	19M	-12M	-59M	10M
Net Change in Cash	-218M	704M	-49M	-70M	159M
Supplemental Items
Cash Interest Paid	233M	122M	152M	135M	-
Cash Income Tax Paid (Refund)	222M	194M	239M	321M	439M
Levered Free Cash Flow	627M	742M	336M	414M	648M
Unlevered Free Cash Flow	733M	822M	412M	507M	754M
Change In Net Working Capital	-132M	-173M	262M	332M	-158M
Net Debt Issued / Repaid	-263M	-420M	313M	-95M	-55M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	6.71	5.63	6.06	8.55	6.42
Return on Total Capital	9.93	8.28	8.77	12.19	8.94
Return On Equity %	16.45	16.15	16.61	20.04	14.34
Return on Common Equity	16.67	16.22	16.66	20.08	14.37
Margin Analysis
Gross Profit Margin %	33.21	33.69	30.59	31.7	25.25
SG&A Margin	21.7	23.02	20.04	18.79	13.61
EBITDA Margin %	16.39	16.03	15.01	16.91	16.42
EBITA Margin %	11.87	11	10.8	13.14	12.06
EBIT Margin %	11.52	10.67	10.56	12.91	11.63
Income From Continuing Operations Margin %	5.35	6.41	6.72	7.37	6.83
Net Income Margin %	5.26	6.39	6.72	7.37	6.82
Net Avail. For Common Margin %	5.26	6.39	6.72	7.37	6.82
Normalized Net Income Margin	5.89	5.68	5.85	7.36	6.57
Levered Free Cash Flow Margin	6.93	8.7	3.33	3.23	5.35
Unlevered Free Cash Flow Margin	8.1	9.63	4.08	3.96	6.23
Asset Turnover
Asset Turnover	0.93	0.84	0.92	1.06	0.88
Fixed Assets Turnover	2.24	1.98	2.25	2.62	2.1
Receivables Turnover (Average Receivables)	6.36	6.23	6.47	6.93	6.3
Inventory Turnover (Average Inventory)	7.25	7.11	7.71	7.69	7.07
Short Term Liquidity
Current Ratio	1.21	1.46	1.44	1.49	1.52
Quick Ratio	0.79	1.05	1.02	1.01	0.93
Operating Cash Flow to Current Liabilities	0.53	0.56	0.35	0.48	0.52
Days Sales Outstanding (Average Receivables)	57.38	58.76	56.43	52.65	57.98
Days Outstanding Inventory (Average Inventory)	50.31	51.51	47.32	47.48	51.63
Average Days Payable Outstanding