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Side-by-side financial comparison of Fresenius Medical Care AG (FMS) 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 $5.5B, roughly 1.4× Fresenius Medical Care AG). Fresenius Medical Care AG runs the higher net margin — 7.9% vs 1.3%, a 6.7% gap on every dollar of revenue. On growth, Smurfit Westrock posted the faster year-over-year revenue change (0.5% vs -0.3%).
Fresenius Medical Care AG & Co. KGaA is a German healthcare company which provides kidney dialysis services through a network of 4,171 outpatient dialysis centers, serving 345,425 patients. The company primarily treats end-stage renal disease (ESRD), which requires patients to undergo dialysis 3 times per week for the rest of their lives.
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.
FMS vs SW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.5B | $7.6B |
| Net Profit | $434.2M | $97.0M |
| Gross Margin | 27.4% | 18.2% |
| Operating Margin | 11.7% | 5.1% |
| Net Margin | 7.9% | 1.3% |
| Revenue YoY | -0.3% | 0.5% |
| Net Profit YoY | 240.4% | -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 | $5.5B | $7.6B | ||
| Q3 25 | — | $8.0B | ||
| Q2 25 | — | $7.9B | ||
| Q1 25 | — | $7.7B | ||
| Q4 24 | $5.5B | $7.5B | ||
| Q3 24 | — | $7.7B | ||
| Q2 24 | — | $3.0B | ||
| Q1 24 | — | $2.9B |
| Q4 25 | $434.2M | $97.0M | ||
| Q3 25 | — | $246.0M | ||
| Q2 25 | — | $-28.0M | ||
| Q1 25 | — | $384.0M | ||
| Q4 24 | $127.6M | $146.0M | ||
| Q3 24 | — | $-150.0M | ||
| Q2 24 | — | $132.0M | ||
| Q1 24 | — | $191.0M |
| Q4 25 | 27.4% | 18.2% | ||
| Q3 25 | — | 19.6% | ||
| Q2 25 | — | 19.1% | ||
| Q1 25 | — | 20.6% | ||
| Q4 24 | 25.0% | 19.1% | ||
| Q3 24 | — | 17.6% | ||
| Q2 24 | — | 23.3% | ||
| Q1 24 | — | 24.2% |
| Q4 25 | 11.7% | 5.1% | ||
| Q3 25 | — | 6.6% | ||
| Q2 25 | — | 3.2% | ||
| Q1 25 | — | 7.2% | ||
| Q4 24 | 5.1% | 5.3% | ||
| Q3 24 | — | 0.7% | ||
| Q2 24 | — | 8.2% | ||
| Q1 24 | — | 10.5% |
| Q4 25 | 7.9% | 1.3% | ||
| Q3 25 | — | 3.1% | ||
| Q2 25 | — | -0.4% | ||
| Q1 25 | — | 5.0% | ||
| Q4 24 | 2.3% | 1.9% | ||
| Q3 24 | — | -2.0% | ||
| Q2 24 | — | 4.4% | ||
| Q1 24 | — | 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 | $1.7B | $892.0M |
| Total DebtLower is stronger | — | $13.4B |
| Stockholders' EquityBook value | $15.4B | $18.3B |
| Total Assets | $33.5B | $45.2B |
| Debt / EquityLower = less leverage | — | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7B | $892.0M | ||
| Q3 25 | — | $851.0M | ||
| Q2 25 | — | $778.0M | ||
| Q1 25 | — | $797.0M | ||
| Q4 24 | $1.3B | $855.0M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $26.8K | ||
| Q1 24 | — | $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 | $15.4B | $18.3B | ||
| Q3 25 | — | $18.4B | ||
| Q2 25 | — | $18.3B | ||
| Q1 25 | — | $17.9B | ||
| Q4 24 | $17.0B | $17.4B | ||
| Q3 24 | — | $18.0B | ||
| Q2 24 | — | $14.5K | ||
| Q1 24 | — | $108 |
| Q4 25 | $33.5B | $45.2B | ||
| Q3 25 | — | $45.6B | ||
| Q2 25 | — | $45.7B | ||
| Q1 25 | — | $44.6B | ||
| Q4 24 | $36.3B | $43.8B | ||
| Q3 24 | — | $45.0B | ||
| Q2 24 | — | $26.8K | ||
| Q1 24 | — | $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 | $2.9B | $1.2B |
| Free Cash FlowOCF − Capex | — | $612.0M |
| FCF MarginFCF / Revenue | — | 8.1% |
| Capex IntensityCapex / Revenue | — | 7.7% |
| Cash ConversionOCF / Net Profit | 6.67× | 12.32× |
| TTM Free Cash FlowTrailing 4 quarters | — | $1.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.9B | $1.2B | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $829.0M | ||
| Q1 25 | — | $235.0M | ||
| Q4 24 | $2.6B | $781.0M | ||
| Q3 24 | — | $320.0M | ||
| Q2 24 | — | $340.0M | ||
| Q1 24 | — | $42.0M |
| Q4 25 | — | $612.0M | ||
| Q3 25 | — | $523.0M | ||
| Q2 25 | — | $307.0M | ||
| Q1 25 | — | $-242.0M | ||
| Q4 24 | — | $212.0M | ||
| Q3 24 | — | $-192.0M | ||
| Q2 24 | — | $163.0M | ||
| Q1 24 | — | $-166.0M |
| Q4 25 | — | 8.1% | ||
| Q3 25 | — | 6.5% | ||
| Q2 25 | — | 3.9% | ||
| Q1 25 | — | -3.2% | ||
| Q4 24 | — | 2.8% | ||
| Q3 24 | — | -2.5% | ||
| Q2 24 | — | 5.5% | ||
| Q1 24 | — | -5.7% |
| Q4 25 | — | 7.7% | ||
| Q3 25 | — | 7.6% | ||
| Q2 25 | — | 6.6% | ||
| Q1 25 | — | 6.2% | ||
| Q4 24 | — | 7.5% | ||
| Q3 24 | — | 6.7% | ||
| Q2 24 | — | 6.0% | ||
| Q1 24 | — | 7.1% |
| Q4 25 | 6.67× | 12.32× | ||
| Q3 25 | — | 4.61× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.61× | ||
| Q4 24 | 20.20× | 5.35× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 2.58× | ||
| Q1 24 | — | 0.22× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FMS
Segment breakdown not available.
SW
| Packaging | $3.3B | 43% |
| Other | $3.2B | 43% |
| Paper | $1.1B | 14% |
