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Side-by-side financial comparison of McDonald's (MCD) 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 $7.0B, roughly 1.1× McDonald's). McDonald's runs the higher net margin — 30.9% vs 1.3%, a 29.6% gap on every dollar of revenue. On growth, McDonald's posted the faster year-over-year revenue change (9.7% vs 0.5%). McDonald's produced more free cash flow last quarter ($1.6B vs $612.0M). Over the past eight quarters, Smurfit Westrock's revenue compounded faster (60.8% CAGR vs 6.6%).
McDonald's Corporation, doing business as McDonald's, is an American multinational fast food restaurant chain. As of 2024, it is the second-largest by number of locations in the world, behind the Chinese chain Mixue Ice Cream & Tea.
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.
MCD vs SW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $7.0B | $7.6B |
| Net Profit | $2.2B | $97.0M |
| Gross Margin | — | 18.2% |
| Operating Margin | 45.0% | 5.1% |
| Net Margin | 30.9% | 1.3% |
| Revenue YoY | 9.7% | 0.5% |
| Net Profit YoY | 7.3% | -33.6% |
| EPS (diluted) | $3.03 | $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 | $7.0B | $7.6B | ||
| Q3 25 | $7.1B | $8.0B | ||
| Q2 25 | $6.8B | $7.9B | ||
| Q1 25 | $6.0B | $7.7B | ||
| Q4 24 | $6.4B | $7.5B | ||
| Q3 24 | $6.9B | $7.7B | ||
| Q2 24 | $6.5B | $3.0B | ||
| Q1 24 | $6.2B | $2.9B |
| Q4 25 | $2.2B | $97.0M | ||
| Q3 25 | $2.3B | $246.0M | ||
| Q2 25 | $2.3B | $-28.0M | ||
| Q1 25 | $1.9B | $384.0M | ||
| Q4 24 | $2.0B | $146.0M | ||
| Q3 24 | $2.3B | $-150.0M | ||
| Q2 24 | $2.0B | $132.0M | ||
| Q1 24 | $1.9B | $191.0M |
| Q4 25 | — | 18.2% | ||
| Q3 25 | 90.6% | 19.6% | ||
| Q2 25 | 90.4% | 19.1% | ||
| Q1 25 | 89.6% | 20.6% | ||
| Q4 24 | — | 19.1% | ||
| Q3 24 | 90.6% | 17.6% | ||
| Q2 24 | 90.3% | 23.3% | ||
| Q1 24 | 89.8% | 24.2% |
| Q4 25 | 45.0% | 5.1% | ||
| Q3 25 | 47.4% | 6.6% | ||
| Q2 25 | 47.2% | 3.2% | ||
| Q1 25 | 44.5% | 7.2% | ||
| Q4 24 | 44.9% | 5.3% | ||
| Q3 24 | 46.4% | 0.7% | ||
| Q2 24 | 45.0% | 8.2% | ||
| Q1 24 | 44.4% | 10.5% |
| Q4 25 | 30.9% | 1.3% | ||
| Q3 25 | 32.2% | 3.1% | ||
| Q2 25 | 32.9% | -0.4% | ||
| Q1 25 | 31.4% | 5.0% | ||
| Q4 24 | 31.6% | 1.9% | ||
| Q3 24 | 32.8% | -2.0% | ||
| Q2 24 | 31.2% | 4.4% | ||
| Q1 24 | 31.3% | 6.5% |
| Q4 25 | $3.03 | $0.18 | ||
| Q3 25 | $3.18 | $0.47 | ||
| Q2 25 | $3.14 | $-0.05 | ||
| Q1 25 | $2.60 | $0.73 | ||
| Q4 24 | $2.80 | $-0.12 | ||
| Q3 24 | $3.13 | $-0.30 | ||
| Q2 24 | $2.80 | $0.51 | ||
| Q1 24 | $2.66 | $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 | $774.0M | $892.0M |
| Total DebtLower is stronger | $40.0B | $13.4B |
| Stockholders' EquityBook value | $-1.8B | $18.3B |
| Total Assets | $59.5B | $45.2B |
| Debt / EquityLower = less leverage | — | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $774.0M | $892.0M | ||
| Q3 25 | $2.4B | $851.0M | ||
| Q2 25 | $1.9B | $778.0M | ||
| Q1 25 | $1.2B | $797.0M | ||
| Q4 24 | $1.1B | $855.0M | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $792.0M | $26.8K | ||
| Q1 24 | $838.0M | $108 |
| Q4 25 | $40.0B | $13.4B | ||
| Q3 25 | — | $13.3B | ||
| Q2 25 | — | $13.3B | ||
| Q1 25 | — | $12.9B | ||
| Q4 24 | $38.4B | $12.5B | ||
| Q3 24 | — | $13.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $-1.8B | $18.3B | ||
| Q3 25 | $-2.2B | $18.4B | ||
| Q2 25 | $-2.8B | $18.3B | ||
| Q1 25 | $-3.5B | $17.9B | ||
| Q4 24 | $-3.8B | $17.4B | ||
| Q3 24 | $-5.2B | $18.0B | ||
| Q2 24 | $-4.8B | $14.5K | ||
| Q1 24 | $-4.8B | $108 |
| Q4 25 | $59.5B | $45.2B | ||
| Q3 25 | $60.6B | $45.6B | ||
| Q2 25 | $59.6B | $45.7B | ||
| Q1 25 | $56.3B | $44.6B | ||
| Q4 24 | $55.2B | $43.8B | ||
| Q3 24 | $56.2B | $45.0B | ||
| Q2 24 | $53.8B | $26.8K | ||
| Q1 24 | $53.5B | $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 | $2.7B | $1.2B |
| Free Cash FlowOCF − Capex | $1.6B | $612.0M |
| FCF MarginFCF / Revenue | 23.4% | 8.1% |
| Capex IntensityCapex / Revenue | 15.1% | 7.7% |
| Cash ConversionOCF / Net Profit | 1.25× | 12.32× |
| TTM Free Cash FlowTrailing 4 quarters | $7.2B | $1.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.7B | $1.2B | ||
| Q3 25 | $3.4B | $1.1B | ||
| Q2 25 | $2.0B | $829.0M | ||
| Q1 25 | $2.4B | $235.0M | ||
| Q4 24 | $2.6B | $781.0M | ||
| Q3 24 | $2.7B | $320.0M | ||
| Q2 24 | $1.7B | $340.0M | ||
| Q1 24 | $2.4B | $42.0M |
| Q4 25 | $1.6B | $612.0M | ||
| Q3 25 | $2.4B | $523.0M | ||
| Q2 25 | $1.3B | $307.0M | ||
| Q1 25 | $1.9B | $-242.0M | ||
| Q4 24 | $1.8B | $212.0M | ||
| Q3 24 | $1.9B | $-192.0M | ||
| Q2 24 | $1.1B | $163.0M | ||
| Q1 24 | $1.8B | $-166.0M |
| Q4 25 | 23.4% | 8.1% | ||
| Q3 25 | 34.1% | 6.5% | ||
| Q2 25 | 18.3% | 3.9% | ||
| Q1 25 | 31.5% | -3.2% | ||
| Q4 24 | 28.6% | 2.8% | ||
| Q3 24 | 28.3% | -2.5% | ||
| Q2 24 | 16.3% | 5.5% | ||
| Q1 24 | 29.9% | -5.7% |
| Q4 25 | 15.1% | 7.7% | ||
| Q3 25 | 14.3% | 7.6% | ||
| Q2 25 | 10.9% | 6.6% | ||
| Q1 25 | 9.3% | 6.2% | ||
| Q4 24 | 12.6% | 7.5% | ||
| Q3 24 | 11.6% | 6.7% | ||
| Q2 24 | 9.7% | 6.0% | ||
| Q1 24 | 8.9% | 7.1% |
| Q4 25 | 1.25× | 12.32× | ||
| Q3 25 | 1.50× | 4.61× | ||
| Q2 25 | 0.89× | — | ||
| Q1 25 | 1.30× | 0.61× | ||
| Q4 24 | 1.30× | 5.35× | ||
| Q3 24 | 1.21× | — | ||
| Q2 24 | 0.84× | 2.58× | ||
| Q1 24 | 1.24× | 0.22× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MCD
| International Operated Markets | $3.6B | 51% |
| Other | $2.8B | 40% |
| International Developmental Licensed Marketsand Corporate | $633.0M | 9% |
SW
| Packaging | $3.3B | 43% |
| Other | $3.2B | 43% |
| Paper | $1.1B | 14% |
