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Graphic Packaging vs Smurfit Westrock: revenue, profit, margins and growth compared

Graphic Packaging brought in $8.6B of revenue in fiscal 2025, Smurfit Westrock $31.2B in fiscal 2025. Revenue changed by -2.2% at Graphic Packaging and +47.7% at Smurfit Westrock on the year before, so Smurfit Westrock grew faster. Graphic Packaging kept 5.2% of its revenue as net profit, Smurfit Westrock 2.2%.

Side by side, latest fiscal year

GPKSW
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$8.6B$31.2B
Revenue growth-2.2%+47.7%
Net income$444M$699M
Net margin5.2%2.2%
Free cash flown/a$1.2B
Free cash flow marginn/a3.8%
Earnings per share (diluted)$1.48$1.33
Cash$261M$892M
Debt$5.4B$13.2B
Price to earnings6.334.9
Market value$2.8B$24.3B
Dividend yieldn/a3.71%
Rank by revenue in sector#130 of 778 · Consumer discretionary#33 of 778 · Consumer discretionary

Over the years

Revenue
GPK FY2018: $6BGPK FY2019: $6.2BGPK FY2020: $6.6BGPK FY2021: $7.2BGPK FY2022: $9.4BGPK FY2023: $9.4BGPK FY2024: $8.8BGPK FY2025: $8.6BSW FY2022: $13.5BSW FY2024: $12.1BSW FY2024: $21.1BSW FY2025: $31.2BFY18FY19FY20FY21FY22FY23FY24FY25
GPK $8.6BSW $31.2B
Net income
GPK FY2018: $221.1MGPK FY2019: $207MGPK FY2020: $167MGPK FY2021: $204MGPK FY2022: $522MGPK FY2023: $723MGPK FY2024: $658MGPK FY2025: $444MSW FY2022: $1BSW FY2024: $825MSW FY2024: $319MSW FY2025: $699MFY18FY19FY20FY21FY22FY23FY24FY25
GPK $444MSW $699M
Net margin
GPK FY2018: 3.7%GPK FY2019: 3.4%GPK FY2020: 2.5%GPK FY2021: 2.9%GPK FY2022: 5.5%GPK FY2023: 7.7%GPK FY2024: 7.5%GPK FY2025: 5.2%SW FY2022: 7.7%SW FY2024: 6.8%SW FY2024: 1.5%SW FY2025: 2.2%FY18FY19FY20FY21FY22FY23FY24FY25
GPK 5.2%SW 2.2%
Revenue growth
GPK FY2019: +2.2%GPK FY2020: +6.5%GPK FY2021: +9.1%GPK FY2022: +31.9%GPK FY2023: -0.1%GPK FY2024: -6.6%GPK FY2025: -2.2%SW FY2024: -10.5%SW FY2024: +74.6%SW FY2025: +47.7%FY19FY20FY21FY22FY23FY24FY25
GPK -2.2%SW +47.7%
Free cash flow
GPK FY2018: -$752.6MSW FY2022: $503MSW FY2024: $630MSW FY2024: $17MSW FY2025: $1.2BFY18FY22FY24FY25
GPK -$752.6MSW $1.2B

Fiscal years as each company reports them; the two may end in different months.

Questions about Graphic Packaging and Smurfit Westrock

Which is bigger by revenue, Graphic Packaging or Smurfit Westrock?

Smurfit Westrock is bigger by revenue: $31.2B in fiscal 2025, against $8.6B for Graphic Packaging in fiscal 2025.

Which keeps more of its revenue as profit, Graphic Packaging or Smurfit Westrock?

Graphic Packaging had a net margin of 5.2% in fiscal 2025; Smurfit Westrock had 2.2% in fiscal 2025.

Which grew revenue faster, Graphic Packaging or Smurfit Westrock?

In their latest fiscal years revenue changed by -2.2% at Graphic Packaging and +47.7% at Smurfit Westrock.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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