International Paper
IP · Paper & Plastic Packaging Products & Materials
$33.19
1.5%Smurfit Westrock
SW · Paper & Plastic Packaging Products & Materials
$41.85
1.4%The short version
- Smurfit Westrock is the larger business, with $31.2B of revenue in fiscal 2025 against $23.6B for International Paper.
- International Paper grew revenue faster (49.3%, against 47.7%).
- Smurfit Westrock turned more of its sales into free cash flow (3.9% FCF margin, against −0.7% FCF margin).
- Smurfit Westrock earned a higher return on the capital invested in it (4.1%, against −12.3%).
| Latest fiscal year | IP · FY25 | SW · FY25 |
|---|---|---|
| Size | ||
| Market cap | $17.6B | $22.0B |
| Revenue | $23.6B | $31.2B |
| Free cash flow | −$159M | $1.2B |
| Net income | −$3.5B | $699M |
| Growth | ||
| Revenue growth | 49.3% | 47.7% |
| 5-year growth | 6.1% | — |
| Share count change | 42.8% | 35.2% |
| Profitability | ||
| Gross margin | 29.6% | 19.4% |
| Operating margin | — | 5.5% |
| Net margin | −14.9% | 2.2% |
| FCF margin | −0.7% | 3.9% |
| Return on capital | −12.3% | 4.1% |
| Return on equity | −30.6% | 3.9% |
| Balance sheet | ||
| Net debt | $8.7B | $12.9B |
| Net debt / EBITDA | — | 3.0x |
| Dividends and buybacks | $1.0B | $900M |
| Valuation & quality | ||
| P/E | — | 44.1x |
| Piotroski F-score | 4 | 5 |
FY16
IP $19.5B
SW —
FY17
IP $21.7B
SW —
FY18
IP $23.3B
SW —
FY19
IP $18.3B
SW —
FY20
IP $17.6B
SW —
FY21
IP $19.4B
SW —
FY22
IP $21.2B
SW $13.5B
FY23
IP $16.0B
SW $12.1B
FY24
IP $15.8B
SW $21.1B
FY25
IP $23.6B
SW $31.2B
IP
SW
FY16
IP —
SW —
FY17
IP —
SW —
FY18
IP —
SW —
FY19
IP —
SW —
FY20
IP —
SW —
FY21
IP —
SW —
FY22
IP —
SW 11.5%
FY23
IP —
SW 11.4%
FY24
IP —
SW 4.8%
FY25
IP —
SW 5.5%
IP
SW
FY16
IP $1.2B
SW —
FY17
IP $477M
SW —
FY18
IP $1.7B
SW —
FY19
IP $2.5B
SW —
FY20
IP $2.4B
SW —
FY21
IP $1.6B
SW —
FY22
IP $1.2B
SW $503M
FY23
IP $692M
SW $630M
FY24
IP $757M
SW $17.0M
FY25
IP −$159M
SW $1.2B
IP
SW
FY16
IP 8.4%
SW —
FY17
IP 10.3%
SW —
FY18
IP 11.1%
SW —
FY19
IP 4.7%
SW —
FY20
IP 2.9%
SW —
FY21
IP 8.1%
SW —
FY22
IP 14.4%
SW —
FY23
IP 5.2%
SW —
FY24
IP 6.3%
SW 2.9%
FY25
IP −12.3%
SW 4.1%
IP
SW
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.