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Side-by-side financial comparison of FLUOR CORP (FLR) 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 $4.2B, roughly 1.8× FLUOR CORP). Smurfit Westrock runs the higher net margin — 1.3% vs -37.7%, a 39.0% gap on every dollar of revenue. On growth, Smurfit Westrock posted the faster year-over-year revenue change (0.5% vs -2.0%). Smurfit Westrock produced more free cash flow last quarter ($612.0M vs $-378.0M). Over the past eight quarters, Smurfit Westrock's revenue compounded faster (60.8% CAGR vs 5.7%).
Fluor Corporation is an American engineering and construction firm, headquartered in Irving, Texas. It is a holding company that provides services through its subsidiaries in three main areas: oil and gas, industrial and infrastructure, government and power. It is the largest publicly traded engineering and construction company in the Fortune 500 rankings and is listed as 265th overall.
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.
FLR vs SW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.2B | $7.6B |
| Net Profit | $-1.6B | $97.0M |
| Gross Margin | 3.2% | 18.2% |
| Operating Margin | 1.3% | 5.1% |
| Net Margin | -37.7% | 1.3% |
| Revenue YoY | -2.0% | 0.5% |
| Net Profit YoY | -184.4% | -33.6% |
| EPS (diluted) | $-9.40 | $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 | $4.2B | $7.6B | ||
| Q3 25 | $3.4B | $8.0B | ||
| Q2 25 | $4.0B | $7.9B | ||
| Q1 25 | $4.0B | $7.7B | ||
| Q4 24 | $4.3B | $7.5B | ||
| Q3 24 | $4.1B | $7.7B | ||
| Q2 24 | $4.2B | $3.0B | ||
| Q1 24 | $3.7B | $2.9B |
| Q4 25 | $-1.6B | $97.0M | ||
| Q3 25 | $-697.0M | $246.0M | ||
| Q2 25 | $2.5B | $-28.0M | ||
| Q1 25 | $-241.0M | $384.0M | ||
| Q4 24 | $1.9B | $146.0M | ||
| Q3 24 | $54.0M | $-150.0M | ||
| Q2 24 | $169.0M | $132.0M | ||
| Q1 24 | $59.0M | $191.0M |
| Q4 25 | 3.2% | 18.2% | ||
| Q3 25 | -13.3% | 19.6% | ||
| Q2 25 | 1.4% | 19.1% | ||
| Q1 25 | 3.5% | 20.6% | ||
| Q4 24 | 4.9% | 19.1% | ||
| Q3 24 | 2.1% | 17.6% | ||
| Q2 24 | 4.2% | 23.3% | ||
| Q1 24 | 2.7% | 24.2% |
| Q4 25 | 1.3% | 5.1% | ||
| Q3 25 | -14.7% | 6.6% | ||
| Q2 25 | -0.7% | 3.2% | ||
| Q1 25 | 2.3% | 7.2% | ||
| Q4 24 | 4.4% | 5.3% | ||
| Q3 24 | 1.2% | 0.7% | ||
| Q2 24 | 4.2% | 8.2% | ||
| Q1 24 | 1.4% | 10.5% |
| Q4 25 | -37.7% | 1.3% | ||
| Q3 25 | -20.7% | 3.1% | ||
| Q2 25 | 61.8% | -0.4% | ||
| Q1 25 | -6.1% | 5.0% | ||
| Q4 24 | 43.7% | 1.9% | ||
| Q3 24 | 1.3% | -2.0% | ||
| Q2 24 | 4.0% | 4.4% | ||
| Q1 24 | 1.6% | 6.5% |
| Q4 25 | $-9.40 | $0.18 | ||
| Q3 25 | $-4.30 | $0.47 | ||
| Q2 25 | $14.81 | $-0.05 | ||
| Q1 25 | $-1.42 | $0.73 | ||
| Q4 24 | $10.68 | $-0.12 | ||
| Q3 24 | $0.31 | $-0.30 | ||
| Q2 24 | $0.97 | $0.51 | ||
| Q1 24 | $0.34 | $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 | $2.2B | $892.0M |
| Total DebtLower is stronger | — | $13.4B |
| Stockholders' EquityBook value | $3.2B | $18.3B |
| Total Assets | $8.2B | $45.2B |
| Debt / EquityLower = less leverage | — | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.2B | $892.0M | ||
| Q3 25 | $2.8B | $851.0M | ||
| Q2 25 | $2.3B | $778.0M | ||
| Q1 25 | $2.5B | $797.0M | ||
| Q4 24 | $3.0B | $855.0M | ||
| Q3 24 | $3.0B | — | ||
| Q2 24 | $2.7B | $26.8K | ||
| Q1 24 | $2.4B | $108 |
| Q4 25 | — | $13.4B | ||
| Q3 25 | — | $13.3B | ||
| Q2 25 | — | $13.3B | ||
| Q1 25 | — | $12.9B | ||
| Q4 24 | — | $12.5B | ||
| Q3 24 | — | $13.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $3.2B | $18.3B | ||
| Q3 25 | $5.2B | $18.4B | ||
| Q2 25 | $5.9B | $18.3B | ||
| Q1 25 | $3.6B | $17.9B | ||
| Q4 24 | $3.9B | $17.4B | ||
| Q3 24 | $2.3B | $18.0B | ||
| Q2 24 | $2.1B | $14.5K | ||
| Q1 24 | $2.0B | $108 |
| Q4 25 | $8.2B | $45.2B | ||
| Q3 25 | $11.5B | $45.6B | ||
| Q2 25 | $11.8B | $45.7B | ||
| Q1 25 | $8.4B | $44.6B | ||
| Q4 24 | $9.1B | $43.8B | ||
| Q3 24 | $7.1B | $45.0B | ||
| Q2 24 | $6.8B | $26.8K | ||
| Q1 24 | $6.7B | $108 |
| Q4 25 | — | 0.73× | ||
| Q3 25 | — | 0.72× | ||
| Q2 25 | — | 0.73× | ||
| Q1 25 | — | 0.72× | ||
| Q4 24 | — | 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 | $-366.0M | $1.2B |
| Free Cash FlowOCF − Capex | $-378.0M | $612.0M |
| FCF MarginFCF / Revenue | -9.1% | 8.1% |
| Capex IntensityCapex / Revenue | 0.3% | 7.7% |
| Cash ConversionOCF / Net Profit | — | 12.32× |
| TTM Free Cash FlowTrailing 4 quarters | $-437.0M | $1.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-366.0M | $1.2B | ||
| Q3 25 | $286.0M | $1.1B | ||
| Q2 25 | $-21.0M | $829.0M | ||
| Q1 25 | $-286.0M | $235.0M | ||
| Q4 24 | $327.0M | $781.0M | ||
| Q3 24 | $330.0M | $320.0M | ||
| Q2 24 | $282.0M | $340.0M | ||
| Q1 24 | $-111.0M | $42.0M |
| Q4 25 | $-378.0M | $612.0M | ||
| Q3 25 | $273.0M | $523.0M | ||
| Q2 25 | $-35.0M | $307.0M | ||
| Q1 25 | $-297.0M | $-242.0M | ||
| Q4 24 | $296.0M | $212.0M | ||
| Q3 24 | $279.0M | $-192.0M | ||
| Q2 24 | $234.0M | $163.0M | ||
| Q1 24 | $-145.0M | $-166.0M |
| Q4 25 | -9.1% | 8.1% | ||
| Q3 25 | 8.1% | 6.5% | ||
| Q2 25 | -0.9% | 3.9% | ||
| Q1 25 | -7.5% | -3.2% | ||
| Q4 24 | 6.9% | 2.8% | ||
| Q3 24 | 6.8% | -2.5% | ||
| Q2 24 | 5.5% | 5.5% | ||
| Q1 24 | -3.9% | -5.7% |
| Q4 25 | 0.3% | 7.7% | ||
| Q3 25 | 0.4% | 7.6% | ||
| Q2 25 | 0.4% | 6.6% | ||
| Q1 25 | 0.3% | 6.2% | ||
| Q4 24 | 0.7% | 7.5% | ||
| Q3 24 | 1.2% | 6.7% | ||
| Q2 24 | 1.1% | 6.0% | ||
| Q1 24 | 0.9% | 7.1% |
| Q4 25 | — | 12.32× | ||
| Q3 25 | — | 4.61× | ||
| Q2 25 | -0.01× | — | ||
| Q1 25 | — | 0.61× | ||
| Q4 24 | 0.18× | 5.35× | ||
| Q3 24 | 6.11× | — | ||
| Q2 24 | 1.67× | 2.58× | ||
| Q1 24 | -1.88× | 0.22× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FLR
| Urban Solutions Segment | $2.6B | 63% |
| Energy Solutions Segment | $943.0M | 23% |
| Mission Solutions Segment | $600.0M | 14% |
SW
| Packaging | $3.3B | 43% |
| Other | $3.2B | 43% |
| Paper | $1.1B | 14% |
