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Side-by-side financial comparison of American Express (AXP) and Smurfit Westrock (SW). Click either name above to swap in a different company.
American Express is the larger business by last-quarter revenue ($10.9B vs $7.6B, roughly 1.4× Smurfit Westrock). American Express runs the higher net margin — 22.5% vs 1.3%, a 21.2% gap on every dollar of revenue. On growth, American Express posted the faster year-over-year revenue change (9.9% vs 0.5%). American Express produced more free cash flow last quarter ($2.3B vs $612.0M). Over the past eight quarters, Smurfit Westrock's revenue compounded faster (60.8% CAGR vs 8.2%).
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services. The company's products an...
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.
AXP vs SW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $10.9B | $7.6B |
| Net Profit | $2.5B | $97.0M |
| Gross Margin | — | 18.2% |
| Operating Margin | 28.2% | 5.1% |
| Net Margin | 22.5% | 1.3% |
| Revenue YoY | 9.9% | 0.5% |
| Net Profit YoY | 13.5% | -33.6% |
| EPS (diluted) | $3.52 | $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 | $10.9B | $7.6B | ||
| Q3 25 | $10.4B | $8.0B | ||
| Q2 25 | $10.3B | $7.9B | ||
| Q1 25 | $9.6B | $7.7B | ||
| Q4 24 | $10.0B | $7.5B | ||
| Q3 24 | $9.7B | $7.7B | ||
| Q2 24 | $9.8B | $3.0B | ||
| Q1 24 | $9.3B | $2.9B |
| Q4 25 | $2.5B | $97.0M | ||
| Q3 25 | $2.9B | $246.0M | ||
| Q2 25 | $2.9B | $-28.0M | ||
| Q1 25 | $2.6B | $384.0M | ||
| Q4 24 | $2.2B | $146.0M | ||
| Q3 24 | $2.5B | $-150.0M | ||
| Q2 24 | $3.0B | $132.0M | ||
| Q1 24 | $2.4B | $191.0M |
| Q4 25 | — | 18.2% | ||
| Q3 25 | — | 19.6% | ||
| Q2 25 | — | 19.1% | ||
| Q1 25 | — | 20.6% | ||
| Q4 24 | — | 19.1% | ||
| Q3 24 | — | 17.6% | ||
| Q2 24 | — | 23.3% | ||
| Q1 24 | — | 24.2% |
| Q4 25 | 28.2% | 5.1% | ||
| Q3 25 | 36.7% | 6.6% | ||
| Q2 25 | 34.4% | 3.2% | ||
| Q1 25 | 34.6% | 7.2% | ||
| Q4 24 | 27.7% | 5.3% | ||
| Q3 24 | 33.0% | 0.7% | ||
| Q2 24 | 38.6% | 8.2% | ||
| Q1 24 | 33.7% | 10.5% |
| Q4 25 | 22.5% | 1.3% | ||
| Q3 25 | 27.9% | 3.1% | ||
| Q2 25 | 28.0% | -0.4% | ||
| Q1 25 | 26.8% | 5.0% | ||
| Q4 24 | 21.8% | 1.9% | ||
| Q3 24 | 25.8% | -2.0% | ||
| Q2 24 | 30.7% | 4.4% | ||
| Q1 24 | 26.1% | 6.5% |
| Q4 25 | $3.52 | $0.18 | ||
| Q3 25 | $4.14 | $0.47 | ||
| Q2 25 | $4.08 | $-0.05 | ||
| Q1 25 | $3.64 | $0.73 | ||
| Q4 24 | $3.04 | $-0.12 | ||
| Q3 24 | $3.49 | $-0.30 | ||
| Q2 24 | $4.15 | $0.51 | ||
| Q1 24 | $3.33 | $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 | $742.0M | $892.0M |
| Total DebtLower is stronger | $56.4B | $13.4B |
| Stockholders' EquityBook value | $33.5B | $18.3B |
| Total Assets | $300.1B | $45.2B |
| Debt / EquityLower = less leverage | 1.68× | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $742.0M | $892.0M | ||
| Q3 25 | $1.3B | $851.0M | ||
| Q2 25 | $197.0M | $778.0M | ||
| Q1 25 | $261.0M | $797.0M | ||
| Q4 24 | $221.0M | $855.0M | ||
| Q3 24 | $120.0M | — | ||
| Q2 24 | $188.0M | $26.8K | ||
| Q1 24 | $69.0M | $108 |
| Q4 25 | $56.4B | $13.4B | ||
| Q3 25 | $57.8B | $13.3B | ||
| Q2 25 | $58.2B | $13.3B | ||
| Q1 25 | $51.2B | $12.9B | ||
| Q4 24 | $49.7B | $12.5B | ||
| Q3 24 | $53.5B | $13.2B | ||
| Q2 24 | $51.5B | — | ||
| Q1 24 | $48.8B | — |
| Q4 25 | $33.5B | $18.3B | ||
| Q3 25 | $32.4B | $18.4B | ||
| Q2 25 | $32.3B | $18.3B | ||
| Q1 25 | $31.2B | $17.9B | ||
| Q4 24 | $30.3B | $17.4B | ||
| Q3 24 | $29.7B | $18.0B | ||
| Q2 24 | $29.5B | $14.5K | ||
| Q1 24 | $28.8B | $108 |
| Q4 25 | $300.1B | $45.2B | ||
| Q3 25 | $297.6B | $45.6B | ||
| Q2 25 | $295.6B | $45.7B | ||
| Q1 25 | $282.2B | $44.6B | ||
| Q4 24 | $271.5B | $43.8B | ||
| Q3 24 | $271.0B | $45.0B | ||
| Q2 24 | $272.2B | $26.8K | ||
| Q1 24 | $269.3B | $108 |
| Q4 25 | 1.68× | 0.73× | ||
| Q3 25 | 1.78× | 0.72× | ||
| Q2 25 | 1.80× | 0.73× | ||
| Q1 25 | 1.64× | 0.72× | ||
| Q4 24 | 1.64× | 0.72× | ||
| Q3 24 | 1.80× | 0.73× | ||
| Q2 24 | 1.74× | — | ||
| Q1 24 | 1.70× | — |
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 | $3.1B | $1.2B |
| Free Cash FlowOCF − Capex | $2.3B | $612.0M |
| FCF MarginFCF / Revenue | 21.4% | 8.1% |
| Capex IntensityCapex / Revenue | 6.6% | 7.7% |
| Cash ConversionOCF / Net Profit | 1.25× | 12.32× |
| TTM Free Cash FlowTrailing 4 quarters | $16.0B | $1.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.1B | $1.2B | ||
| Q3 25 | $6.2B | $1.1B | ||
| Q2 25 | $4.4B | $829.0M | ||
| Q1 25 | $4.8B | $235.0M | ||
| Q4 24 | $5.8B | $781.0M | ||
| Q3 24 | $-1.8B | $320.0M | ||
| Q2 24 | $4.5B | $340.0M | ||
| Q1 24 | $5.6B | $42.0M |
| Q4 25 | $2.3B | $612.0M | ||
| Q3 25 | $5.6B | $523.0M | ||
| Q2 25 | $3.7B | $307.0M | ||
| Q1 25 | $4.3B | $-242.0M | ||
| Q4 24 | $5.3B | $212.0M | ||
| Q3 24 | $-2.3B | $-192.0M | ||
| Q2 24 | $4.0B | $163.0M | ||
| Q1 24 | $5.2B | $-166.0M |
| Q4 25 | 21.4% | 8.1% | ||
| Q3 25 | 53.6% | 6.5% | ||
| Q2 25 | 36.3% | 3.9% | ||
| Q1 25 | 45.0% | -3.2% | ||
| Q4 24 | 53.1% | 2.8% | ||
| Q3 24 | -23.3% | -2.5% | ||
| Q2 24 | 40.4% | 5.5% | ||
| Q1 24 | 55.2% | -5.7% |
| Q4 25 | 6.6% | 7.7% | ||
| Q3 25 | 6.3% | 7.6% | ||
| Q2 25 | 6.0% | 6.6% | ||
| Q1 25 | 4.5% | 6.2% | ||
| Q4 24 | 5.0% | 7.5% | ||
| Q3 24 | 4.7% | 6.7% | ||
| Q2 24 | 5.8% | 6.0% | ||
| Q1 24 | 4.2% | 7.1% |
| Q4 25 | 1.25× | 12.32× | ||
| Q3 25 | 2.15× | 4.61× | ||
| Q2 25 | 1.51× | — | ||
| Q1 25 | 1.84× | 0.61× | ||
| Q4 24 | 2.66× | 5.35× | ||
| Q3 24 | -0.72× | — | ||
| Q2 24 | 1.50× | 2.58× | ||
| Q1 24 | 2.28× | 0.22× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AXP
| US Consumer Services Segment | $4.2B | 38% |
| Commercial Services Segment | $3.1B | 28% |
| International Card Services Segment | $2.1B | 19% |
| Global Merchant And Network Services Segment | $1.7B | 15% |
| Financial Service Other | $471.0M | 4% |
SW
| Packaging | $3.3B | 43% |
| Other | $3.2B | 43% |
| Paper | $1.1B | 14% |
