vs
Side-by-side financial comparison of Duke Energy (DUK) and Smurfit Westrock (SW). Click either name above to swap in a different company.
Duke Energy is the larger business by last-quarter revenue ($7.8B vs $7.6B, roughly 1.0× Smurfit Westrock). Duke Energy runs the higher net margin — 15.2% vs 1.3%, a 14.0% gap on every dollar of revenue. On growth, Duke Energy posted the faster year-over-year revenue change (7.4% vs 0.5%). Smurfit Westrock produced more free cash flow last quarter ($612.0M vs $-485.0M). Over the past eight quarters, Smurfit Westrock's revenue compounded faster (60.8% CAGR vs 1.6%).
Duke Energy Corporation is an American electric power and natural gas holding company headquartered in Charlotte, North Carolina. The company serves over 7 million customers in the eastern United States. In 2024 it ranked as the 141st largest company in the United States – its highest-ever placement on the Fortune 500 list.
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.
DUK vs SW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $7.8B | $7.6B |
| Net Profit | $1.2B | $97.0M |
| Gross Margin | — | 18.2% |
| Operating Margin | 27.3% | 5.1% |
| Net Margin | 15.2% | 1.3% |
| Revenue YoY | 7.4% | 0.5% |
| Net Profit YoY | -1.7% | -33.6% |
| EPS (diluted) | $1.49 | $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 | $7.8B | $7.6B | ||
| Q3 25 | $8.4B | $8.0B | ||
| Q2 25 | $7.4B | $7.9B | ||
| Q1 25 | $8.2B | $7.7B | ||
| Q4 24 | $7.2B | $7.5B | ||
| Q3 24 | $8.1B | $7.7B | ||
| Q2 24 | $7.2B | $3.0B | ||
| Q1 24 | $7.5B | $2.9B |
| Q4 25 | $1.2B | $97.0M | ||
| Q3 25 | $1.4B | $246.0M | ||
| Q2 25 | $984.0M | $-28.0M | ||
| Q1 25 | $1.4B | $384.0M | ||
| Q4 24 | $1.2B | $146.0M | ||
| Q3 24 | $1.3B | $-150.0M | ||
| Q2 24 | $900.0M | $132.0M | ||
| Q1 24 | $1.1B | $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 | 27.3% | 5.1% | ||
| Q3 25 | 27.9% | 6.6% | ||
| Q2 25 | 24.8% | 3.2% | ||
| Q1 25 | 28.5% | 7.2% | ||
| Q4 24 | 29.2% | 5.3% | ||
| Q3 24 | 26.4% | 0.7% | ||
| Q2 24 | 23.9% | 8.2% | ||
| Q1 24 | 26.1% | 10.5% |
| Q4 25 | 15.2% | 1.3% | ||
| Q3 25 | 17.0% | 3.1% | ||
| Q2 25 | 13.3% | -0.4% | ||
| Q1 25 | 16.8% | 5.0% | ||
| Q4 24 | 16.6% | 1.9% | ||
| Q3 24 | 15.8% | -2.0% | ||
| Q2 24 | 12.6% | 4.4% | ||
| Q1 24 | 15.1% | 6.5% |
| Q4 25 | $1.49 | $0.18 | ||
| Q3 25 | $1.81 | $0.47 | ||
| Q2 25 | $1.25 | $-0.05 | ||
| Q1 25 | $1.76 | $0.73 | ||
| Q4 24 | $1.54 | $-0.12 | ||
| Q3 24 | $1.60 | $-0.30 | ||
| Q2 24 | $1.13 | $0.51 | ||
| Q1 24 | $1.44 | $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 | $245.0M | $892.0M |
| Total DebtLower is stronger | $80.1B | $13.4B |
| Stockholders' EquityBook value | $51.8B | $18.3B |
| Total Assets | $195.7B | $45.2B |
| Debt / EquityLower = less leverage | 1.55× | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $245.0M | $892.0M | ||
| Q3 25 | $688.0M | $851.0M | ||
| Q2 25 | $344.0M | $778.0M | ||
| Q1 25 | $475.0M | $797.0M | ||
| Q4 24 | $314.0M | $855.0M | ||
| Q3 24 | $376.0M | — | ||
| Q2 24 | $390.0M | $26.8K | ||
| Q1 24 | $459.0M | $108 |
| Q4 25 | $80.1B | $13.4B | ||
| Q3 25 | — | $13.3B | ||
| Q2 25 | — | $13.3B | ||
| Q1 25 | — | $12.9B | ||
| Q4 24 | $76.3B | $12.5B | ||
| Q3 24 | — | $13.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $51.8B | $18.3B | ||
| Q3 25 | $51.5B | $18.4B | ||
| Q2 25 | $50.9B | $18.3B | ||
| Q1 25 | $50.7B | $17.9B | ||
| Q4 24 | $50.1B | $17.4B | ||
| Q3 24 | $49.1B | $18.0B | ||
| Q2 24 | $49.7B | $14.5K | ||
| Q1 24 | $49.6B | $108 |
| Q4 25 | $195.7B | $45.2B | ||
| Q3 25 | $192.3B | $45.6B | ||
| Q2 25 | $189.7B | $45.7B | ||
| Q1 25 | $187.5B | $44.6B | ||
| Q4 24 | $186.3B | $43.8B | ||
| Q3 24 | $183.6B | $45.0B | ||
| Q2 24 | $181.6B | $26.8K | ||
| Q1 24 | $178.7B | $108 |
| Q4 25 | 1.55× | 0.73× | ||
| Q3 25 | — | 0.72× | ||
| Q2 25 | — | 0.73× | ||
| Q1 25 | — | 0.72× | ||
| Q4 24 | 1.52× | 0.72× | ||
| Q3 24 | — | 0.73× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $3.7B | $1.2B |
| Free Cash FlowOCF − Capex | $-485.0M | $612.0M |
| FCF MarginFCF / Revenue | -6.2% | 8.1% |
| Capex IntensityCapex / Revenue | 53.3% | 7.7% |
| Cash ConversionOCF / Net Profit | 3.09× | 12.32× |
| TTM Free Cash FlowTrailing 4 quarters | $-1.7B | $1.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.7B | $1.2B | ||
| Q3 25 | $3.6B | $1.1B | ||
| Q2 25 | $2.9B | $829.0M | ||
| Q1 25 | $2.2B | $235.0M | ||
| Q4 24 | $3.4B | $781.0M | ||
| Q3 24 | $3.5B | $320.0M | ||
| Q2 24 | $3.0B | $340.0M | ||
| Q1 24 | $2.5B | $42.0M |
| Q4 25 | $-485.0M | $612.0M | ||
| Q3 25 | $179.0M | $523.0M | ||
| Q2 25 | $-417.0M | $307.0M | ||
| Q1 25 | $-971.0M | $-242.0M | ||
| Q4 24 | $288.0M | $212.0M | ||
| Q3 24 | $537.0M | $-192.0M | ||
| Q2 24 | $-43.0M | $163.0M | ||
| Q1 24 | $-734.0M | $-166.0M |
| Q4 25 | -6.2% | 8.1% | ||
| Q3 25 | 2.1% | 6.5% | ||
| Q2 25 | -5.7% | 3.9% | ||
| Q1 25 | -11.8% | -3.2% | ||
| Q4 24 | 4.0% | 2.8% | ||
| Q3 24 | 6.6% | -2.5% | ||
| Q2 24 | -0.6% | 5.5% | ||
| Q1 24 | -9.7% | -5.7% |
| Q4 25 | 53.3% | 7.7% | ||
| Q3 25 | 41.2% | 7.6% | ||
| Q2 25 | 44.5% | 6.6% | ||
| Q1 25 | 38.3% | 6.2% | ||
| Q4 24 | 42.7% | 7.5% | ||
| Q3 24 | 36.8% | 6.7% | ||
| Q2 24 | 41.9% | 6.0% | ||
| Q1 24 | 42.6% | 7.1% |
| Q4 25 | 3.09× | 12.32× | ||
| Q3 25 | 2.56× | 4.61× | ||
| Q2 25 | 2.91× | — | ||
| Q1 25 | 1.58× | 0.61× | ||
| Q4 24 | 2.80× | 5.35× | ||
| Q3 24 | 2.75× | — | ||
| Q2 24 | 3.28× | 2.58× | ||
| Q1 24 | 2.17× | 0.22× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DUK
| Electric Utilitiesand Infrastructure | $7.0B | 90% |
| Other Revenues | $741.0M | 10% |
SW
| Packaging | $3.3B | 43% |
| Other | $3.2B | 43% |
| Paper | $1.1B | 14% |
