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Side-by-side financial comparison of CHS INC (CHSCP) and Smurfit Westrock (SW). Click either name above to swap in a different company.
CHS INC is the larger business by last-quarter revenue ($8.9B vs $7.6B, roughly 1.2× Smurfit Westrock). CHS INC runs the higher net margin — 2.9% vs 1.3%, a 1.7% gap on every dollar of revenue. On growth, Smurfit Westrock posted the faster year-over-year revenue change (0.5% vs -4.6%). Smurfit Westrock produced more free cash flow last quarter ($612.0M vs $-453.8M). Over the past eight quarters, Smurfit Westrock's revenue compounded faster (60.8% CAGR vs -1.2%).
CHS Inc. is a Fortune 500 secondary cooperative owned by United States agricultural cooperatives, farmers, ranchers, and thousands of preferred stock holders. Based in Inver Grove Heights, Minnesota, CHS owns and operates various food processing and wholesale, farm supply, financial services and retail businesses. It also distributes Cenex brand fuel in 19 midwestern and western states as one of North America's largest c-store networks. It is a co-owner of Ventura Foods, a vegetable oil proce...
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.
CHSCP vs SW — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $8.9B | $7.6B |
| Net Profit | $260.5M | $97.0M |
| Gross Margin | 4.4% | 18.2% |
| Operating Margin | 1.4% | 5.1% |
| Net Margin | 2.9% | 1.3% |
| Revenue YoY | -4.6% | 0.5% |
| Net Profit YoY | 6.4% | -33.6% |
| EPS (diluted) | — | $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 | $8.9B | $7.6B | ||
| Q3 25 | $13.2B | $8.0B | ||
| Q2 25 | $9.8B | $7.9B | ||
| Q1 25 | $3.2B | $7.7B | ||
| Q4 24 | $9.3B | $7.5B | ||
| Q3 24 | $9.2B | $7.7B | ||
| Q2 24 | $9.6B | $3.0B | ||
| Q1 24 | $9.1B | $2.9B |
| Q4 25 | $260.5M | $97.0M | ||
| Q3 25 | $196.7M | $246.0M | ||
| Q2 25 | $232.2M | $-28.0M | ||
| Q1 25 | $-75.8M | $384.0M | ||
| Q4 24 | $244.8M | $146.0M | ||
| Q3 24 | $111.8M | $-150.0M | ||
| Q2 24 | $297.3M | $132.0M | ||
| Q1 24 | $170.3M | $191.0M |
| Q4 25 | 4.4% | 18.2% | ||
| Q3 25 | 2.5% | 19.6% | ||
| Q2 25 | 3.4% | 19.1% | ||
| Q1 25 | 2.4% | 20.6% | ||
| Q4 24 | 4.3% | 19.1% | ||
| Q3 24 | 3.0% | 17.6% | ||
| Q2 24 | 4.9% | 23.3% | ||
| Q1 24 | 4.0% | 24.2% |
| Q4 25 | 1.4% | 5.1% | ||
| Q3 25 | 0.4% | 6.6% | ||
| Q2 25 | 0.7% | 3.2% | ||
| Q1 25 | -5.4% | 7.2% | ||
| Q4 24 | 1.5% | 5.3% | ||
| Q3 24 | -0.3% | 0.7% | ||
| Q2 24 | 1.6% | 8.2% | ||
| Q1 24 | 0.7% | 10.5% |
| Q4 25 | 2.9% | 1.3% | ||
| Q3 25 | 1.5% | 3.1% | ||
| Q2 25 | 2.4% | -0.4% | ||
| Q1 25 | -2.4% | 5.0% | ||
| Q4 24 | 2.6% | 1.9% | ||
| Q3 24 | 1.2% | -2.0% | ||
| Q2 24 | 3.1% | 4.4% | ||
| Q1 24 | 1.9% | 6.5% |
| Q4 25 | — | $0.18 | ||
| Q3 25 | — | $0.47 | ||
| Q2 25 | — | $-0.05 | ||
| Q1 25 | — | $0.73 | ||
| Q4 24 | — | $-0.12 | ||
| Q3 24 | — | $-0.30 | ||
| Q2 24 | — | $0.51 | ||
| Q1 24 | — | $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 | $374.7M | $892.0M |
| Total DebtLower is stronger | $1.7B | $13.4B |
| Stockholders' EquityBook value | $11.2B | $18.3B |
| Total Assets | $20.7B | $45.2B |
| Debt / EquityLower = less leverage | 0.16× | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $374.7M | $892.0M | ||
| Q3 25 | $327.8M | $851.0M | ||
| Q2 25 | $323.9M | $778.0M | ||
| Q1 25 | $433.3M | $797.0M | ||
| Q4 24 | $795.6M | $855.0M | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $310.1M | $26.8K | ||
| Q1 24 | $633.3M | $108 |
| Q4 25 | $1.7B | $13.4B | ||
| Q3 25 | $1.7B | $13.3B | ||
| Q2 25 | $1.8B | $13.3B | ||
| Q1 25 | $1.8B | $12.9B | ||
| Q4 24 | $1.8B | $12.5B | ||
| Q3 24 | $1.8B | $13.2B | ||
| Q2 24 | $1.7B | — | ||
| Q1 24 | $1.7B | — |
| Q4 25 | $11.2B | $18.3B | ||
| Q3 25 | $11.1B | $18.4B | ||
| Q2 25 | $10.8B | $18.3B | ||
| Q1 25 | $10.7B | $17.9B | ||
| Q4 24 | $10.8B | $17.4B | ||
| Q3 24 | $10.8B | $18.0B | ||
| Q2 24 | $10.9B | $14.5K | ||
| Q1 24 | $10.8B | $108 |
| Q4 25 | $20.7B | $45.2B | ||
| Q3 25 | $18.9B | $45.6B | ||
| Q2 25 | $19.7B | $45.7B | ||
| Q1 25 | $20.1B | $44.6B | ||
| Q4 24 | $19.6B | $43.8B | ||
| Q3 24 | $18.7B | $45.0B | ||
| Q2 24 | $18.5B | $26.8K | ||
| Q1 24 | $19.2B | $108 |
| Q4 25 | 0.16× | 0.73× | ||
| Q3 25 | 0.16× | 0.72× | ||
| Q2 25 | 0.17× | 0.73× | ||
| Q1 25 | 0.17× | 0.72× | ||
| Q4 24 | 0.17× | 0.72× | ||
| Q3 24 | 0.17× | 0.73× | ||
| Q2 24 | 0.15× | — | ||
| Q1 24 | 0.16× | — |
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 | $-337.8M | $1.2B |
| Free Cash FlowOCF − Capex | $-453.8M | $612.0M |
| FCF MarginFCF / Revenue | -5.1% | 8.1% |
| Capex IntensityCapex / Revenue | 1.3% | 7.7% |
| Cash ConversionOCF / Net Profit | -1.30× | 12.32× |
| TTM Free Cash FlowTrailing 4 quarters | $-60.0M | $1.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-337.8M | $1.2B | ||
| Q3 25 | $1.3B | $1.1B | ||
| Q2 25 | $696.6M | $829.0M | ||
| Q1 25 | $-1.0B | $235.0M | ||
| Q4 24 | $-294.0M | $781.0M | ||
| Q3 24 | $1.1B | $320.0M | ||
| Q2 24 | $556.9M | $340.0M | ||
| Q1 24 | $-249.6M | $42.0M |
| Q4 25 | $-453.8M | $612.0M | ||
| Q3 25 | $1.1B | $523.0M | ||
| Q2 25 | $520.6M | $307.0M | ||
| Q1 25 | $-1.2B | $-242.0M | ||
| Q4 24 | $-486.6M | $212.0M | ||
| Q3 24 | $845.8M | $-192.0M | ||
| Q2 24 | $361.6M | $163.0M | ||
| Q1 24 | $-453.3M | $-166.0M |
| Q4 25 | -5.1% | 8.1% | ||
| Q3 25 | 8.1% | 6.5% | ||
| Q2 25 | 5.3% | 3.9% | ||
| Q1 25 | -38.1% | -3.2% | ||
| Q4 24 | -5.2% | 2.8% | ||
| Q3 24 | 9.2% | -2.5% | ||
| Q2 24 | 3.8% | 5.5% | ||
| Q1 24 | -5.0% | -5.7% |
| Q4 25 | 1.3% | 7.7% | ||
| Q3 25 | 1.5% | 7.6% | ||
| Q2 25 | 1.8% | 6.6% | ||
| Q1 25 | 5.2% | 6.2% | ||
| Q4 24 | 2.1% | 7.5% | ||
| Q3 24 | 2.9% | 6.7% | ||
| Q2 24 | 2.0% | 6.0% | ||
| Q1 24 | 2.2% | 7.1% |
| Q4 25 | -1.30× | 12.32× | ||
| Q3 25 | 6.46× | 4.61× | ||
| Q2 25 | 3.00× | — | ||
| Q1 25 | — | 0.61× | ||
| Q4 24 | -1.20× | 5.35× | ||
| Q3 24 | 9.96× | — | ||
| Q2 24 | 1.87× | 2.58× | ||
| Q1 24 | -1.47× | 0.22× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CHSCP
| Grains | $5.2B | 59% |
| Agronomy | $1.2B | 14% |
| CF Nitrogen LLC | $1.1B | 12% |
| Ventura Foods Llc | $838.2M | 9% |
| Other | $283.9M | 3% |
| ASC Topic815 | $198.7M | 2% |
| West Central Ag Services | $18.0M | 0% |
| Other Guidance | $1.4M | 0% |
SW
| Packaging | $3.3B | 43% |
| Other | $3.2B | 43% |
| Paper | $1.1B | 14% |
