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Side-by-side financial comparison of Amphenol (APH) and Smurfit Westrock (SW). Click either name above to swap in a different company.
Smurfit Westrock is the larger business by last-quarter revenue ($7.6B vs $6.4B, roughly 1.2× Amphenol). Amphenol runs the higher net margin — 18.6% vs 1.3%, a 17.3% gap on every dollar of revenue. On growth, Amphenol posted the faster year-over-year revenue change (49.1% vs 0.5%). Amphenol produced more free cash flow last quarter ($1.5B vs $612.0M). Over the past eight quarters, Smurfit Westrock's revenue compounded faster (60.8% CAGR vs 40.6%).
Amphenol Corporation is an American producer of electronic and fiber optic connectors, cable and interconnect systems such as coaxial cables. Amphenol is a portmanteau from the corporation's original name, American Phenolic Corp.
Smurfit Westrock plc is an Irish company based in Dublin, Ireland that manufactures corrugated and paper-based packaging. Its stock is listed on the New York Stock Exchange and the London Stock Exchange.
APH vs SW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $6.4B | $7.6B |
| Net Profit | $1.2B | $97.0M |
| Gross Margin | 38.2% | 18.2% |
| Operating Margin | 26.8% | 5.1% |
| Net Margin | 18.6% | 1.3% |
| Revenue YoY | 49.1% | 0.5% |
| Net Profit YoY | 60.2% | -33.6% |
| EPS (diluted) | $0.93 | $0.18 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $6.4B | $7.6B | ||
| Q3 25 | $6.2B | $8.0B | ||
| Q2 25 | $5.7B | $7.9B | ||
| Q1 25 | $4.8B | $7.7B | ||
| Q4 24 | $4.3B | $7.5B | ||
| Q3 24 | $4.0B | $7.7B | ||
| Q2 24 | $3.6B | $3.0B | ||
| Q1 24 | $3.3B | $2.9B |
| Q4 25 | $1.2B | $97.0M | ||
| Q3 25 | $1.2B | $246.0M | ||
| Q2 25 | $1.1B | $-28.0M | ||
| Q1 25 | $737.8M | $384.0M | ||
| Q4 24 | $746.1M | $146.0M | ||
| Q3 24 | $604.4M | $-150.0M | ||
| Q2 24 | $524.8M | $132.0M | ||
| Q1 24 | $548.7M | $191.0M |
| Q4 25 | 38.2% | 18.2% | ||
| Q3 25 | 38.1% | 19.6% | ||
| Q2 25 | 36.3% | 19.1% | ||
| Q1 25 | 34.2% | 20.6% | ||
| Q4 24 | 34.3% | 19.1% | ||
| Q3 24 | 33.6% | 17.6% | ||
| Q2 24 | 33.6% | 23.3% | ||
| Q1 24 | 33.4% | 24.2% |
| Q4 25 | 26.8% | 5.1% | ||
| Q3 25 | 27.5% | 6.6% | ||
| Q2 25 | 25.1% | 3.2% | ||
| Q1 25 | 21.3% | 7.2% | ||
| Q4 24 | 22.1% | 5.3% | ||
| Q3 24 | 20.3% | 0.7% | ||
| Q2 24 | 19.4% | 8.2% | ||
| Q1 24 | 21.0% | 10.5% |
| Q4 25 | 18.6% | 1.3% | ||
| Q3 25 | 20.1% | 3.1% | ||
| Q2 25 | 19.3% | -0.4% | ||
| Q1 25 | 15.3% | 5.0% | ||
| Q4 24 | 17.3% | 1.9% | ||
| Q3 24 | 15.0% | -2.0% | ||
| Q2 24 | 14.5% | 4.4% | ||
| Q1 24 | 16.9% | 6.5% |
| Q4 25 | $0.93 | $0.18 | ||
| Q3 25 | $0.97 | $0.47 | ||
| Q2 25 | $0.86 | $-0.05 | ||
| Q1 25 | $0.58 | $0.73 | ||
| Q4 24 | $0.16 | $-0.12 | ||
| Q3 24 | $0.48 | $-0.30 | ||
| Q2 24 | $0.41 | $0.51 | ||
| Q1 24 | $0.87 | $0.73 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $11.4B | $892.0M |
| Total DebtLower is stronger | $14.6B | $13.4B |
| Stockholders' EquityBook value | $13.4B | $18.3B |
| Total Assets | $36.2B | $45.2B |
| Debt / EquityLower = less leverage | 1.09× | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $11.4B | $892.0M | ||
| Q3 25 | $3.9B | $851.0M | ||
| Q2 25 | $3.2B | $778.0M | ||
| Q1 25 | $1.7B | $797.0M | ||
| Q4 24 | $3.3B | $855.0M | ||
| Q3 24 | $1.6B | — | ||
| Q2 24 | $1.3B | $26.8K | ||
| Q1 24 | $2.0B | $108 |
| Q4 25 | $14.6B | $13.4B | ||
| Q3 25 | $7.1B | $13.3B | ||
| Q2 25 | $7.1B | $13.3B | ||
| Q1 25 | $6.8B | $12.9B | ||
| Q4 24 | $6.5B | $12.5B | ||
| Q3 24 | $5.1B | $13.2B | ||
| Q2 24 | $5.0B | — | ||
| Q1 24 | $3.6B | — |
| Q4 25 | $13.4B | $18.3B | ||
| Q3 25 | $12.5B | $18.4B | ||
| Q2 25 | $11.5B | $18.3B | ||
| Q1 25 | $10.3B | $17.9B | ||
| Q4 24 | $9.8B | $17.4B | ||
| Q3 24 | $9.5B | $18.0B | ||
| Q2 24 | $9.0B | $14.5K | ||
| Q1 24 | $8.7B | $108 |
| Q4 25 | $36.2B | $45.2B | ||
| Q3 25 | $27.1B | $45.6B | ||
| Q2 25 | $25.7B | $45.7B | ||
| Q1 25 | $22.9B | $44.6B | ||
| Q4 24 | $21.4B | $43.8B | ||
| Q3 24 | $19.6B | $45.0B | ||
| Q2 24 | $18.6B | $26.8K | ||
| Q1 24 | $16.7B | $108 |
| Q4 25 | 1.09× | 0.73× | ||
| Q3 25 | 0.57× | 0.72× | ||
| Q2 25 | 0.62× | 0.73× | ||
| Q1 25 | 0.66× | 0.72× | ||
| Q4 24 | 0.66× | 0.72× | ||
| Q3 24 | 0.54× | 0.73× | ||
| Q2 24 | 0.56× | — | ||
| Q1 24 | 0.41× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.7B | $1.2B |
| Free Cash FlowOCF − Capex | $1.5B | $612.0M |
| FCF MarginFCF / Revenue | 22.8% | 8.1% |
| Capex IntensityCapex / Revenue | 3.9% | 7.7% |
| Cash ConversionOCF / Net Profit | 1.44× | 12.32× |
| TTM Free Cash FlowTrailing 4 quarters | $4.4B | $1.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7B | $1.2B | ||
| Q3 25 | $1.5B | $1.1B | ||
| Q2 25 | $1.4B | $829.0M | ||
| Q1 25 | $764.9M | $235.0M | ||
| Q4 24 | $847.1M | $781.0M | ||
| Q3 24 | $704.0M | $320.0M | ||
| Q2 24 | $664.1M | $340.0M | ||
| Q1 24 | $599.5M | $42.0M |
| Q4 25 | $1.5B | $612.0M | ||
| Q3 25 | $1.2B | $523.0M | ||
| Q2 25 | $1.1B | $307.0M | ||
| Q1 25 | $576.3M | $-242.0M | ||
| Q4 24 | $647.3M | $212.0M | ||
| Q3 24 | $474.0M | $-192.0M | ||
| Q2 24 | $522.8M | $163.0M | ||
| Q1 24 | $505.2M | $-166.0M |
| Q4 25 | 22.8% | 8.1% | ||
| Q3 25 | 19.6% | 6.5% | ||
| Q2 25 | 19.8% | 3.9% | ||
| Q1 25 | 12.0% | -3.2% | ||
| Q4 24 | 15.0% | 2.8% | ||
| Q3 24 | 11.7% | -2.5% | ||
| Q2 24 | 14.5% | 5.5% | ||
| Q1 24 | 15.5% | -5.7% |
| Q4 25 | 3.9% | 7.7% | ||
| Q3 25 | 4.2% | 7.6% | ||
| Q2 25 | 5.3% | 6.6% | ||
| Q1 25 | 3.9% | 6.2% | ||
| Q4 24 | 4.6% | 7.5% | ||
| Q3 24 | 5.7% | 6.7% | ||
| Q2 24 | 3.9% | 6.0% | ||
| Q1 24 | 2.9% | 7.1% |
| Q4 25 | 1.44× | 12.32× | ||
| Q3 25 | 1.18× | 4.61× | ||
| Q2 25 | 1.30× | — | ||
| Q1 25 | 1.04× | 0.61× | ||
| Q4 24 | 1.14× | 5.35× | ||
| Q3 24 | 1.16× | — | ||
| Q2 24 | 1.27× | 2.58× | ||
| Q1 24 | 1.09× | 0.22× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APH
| Communications Solutions Segment | $3.5B | 54% |
| Harsh Environment Solutions Segment | $1.7B | 26% |
| Sales Channel Through Intermediary | $1.4B | 21% |
SW
| Packaging | $3.3B | 43% |
| Other | $3.2B | 43% |
| Paper | $1.1B | 14% |
