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Side-by-side financial comparison of Smurfit Westrock (SW) and Union Pacific Corporation (UNP). Click either name above to swap in a different company.
Smurfit Westrock is the larger business by last-quarter revenue ($7.6B vs $6.2B, roughly 1.2× Union Pacific Corporation). Union Pacific Corporation runs the higher net margin — 27.4% vs 1.3%, a 26.1% gap on every dollar of revenue. On growth, Union Pacific Corporation posted the faster year-over-year revenue change (3.2% vs 0.5%). Union Pacific Corporation produced more free cash flow last quarter ($631.0M vs $612.0M). Over the past eight quarters, Smurfit Westrock's revenue compounded faster (60.8% CAGR vs 1.7%).
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.
The Union Pacific Railroad Company is a Class I freight-hauling railroad that operates 8,300 locomotives over 32,200 miles (51,800 km) routes in 23 U.S. states west of Chicago and New Orleans. Union Pacific is the second-largest railroad in the United States after BNSF.
SW vs UNP — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $7.6B | $6.2B |
| Net Profit | $97.0M | $1.7B |
| Gross Margin | 18.2% | — |
| Operating Margin | 5.1% | 39.5% |
| Net Margin | 1.3% | 27.4% |
| Revenue YoY | 0.5% | 3.2% |
| Net Profit YoY | -33.6% | 4.6% |
| EPS (diluted) | $0.18 | $2.87 |
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.
| Q1 26 | — | $6.2B | ||
| Q4 25 | $7.6B | $6.1B | ||
| Q3 25 | $8.0B | $6.2B | ||
| Q2 25 | $7.9B | $6.2B | ||
| Q1 25 | $7.7B | $6.0B | ||
| Q4 24 | $7.5B | $6.1B | ||
| Q3 24 | $7.7B | $6.1B | ||
| Q2 24 | $3.0B | $6.0B |
| Q1 26 | — | $1.7B | ||
| Q4 25 | $97.0M | $1.8B | ||
| Q3 25 | $246.0M | $1.8B | ||
| Q2 25 | $-28.0M | $1.9B | ||
| Q1 25 | $384.0M | $1.6B | ||
| Q4 24 | $146.0M | $1.8B | ||
| Q3 24 | $-150.0M | $1.7B | ||
| Q2 24 | $132.0M | $1.7B |
| Q1 26 | — | — | ||
| 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 26 | — | 39.5% | ||
| Q4 25 | 5.1% | 39.5% | ||
| Q3 25 | 6.6% | 40.8% | ||
| Q2 25 | 3.2% | 41.0% | ||
| Q1 25 | 7.2% | 39.3% | ||
| Q4 24 | 5.3% | 41.3% | ||
| Q3 24 | 0.7% | 39.7% | ||
| Q2 24 | 8.2% | 40.0% |
| Q1 26 | — | 27.4% | ||
| Q4 25 | 1.3% | 30.4% | ||
| Q3 25 | 3.1% | 28.6% | ||
| Q2 25 | -0.4% | 30.5% | ||
| Q1 25 | 5.0% | 27.0% | ||
| Q4 24 | 1.9% | 28.8% | ||
| Q3 24 | -2.0% | 27.4% | ||
| Q2 24 | 4.4% | 27.9% |
| Q1 26 | — | $2.87 | ||
| Q4 25 | $0.18 | $3.12 | ||
| Q3 25 | $0.47 | $3.01 | ||
| Q2 25 | $-0.05 | $3.15 | ||
| Q1 25 | $0.73 | $2.70 | ||
| Q4 24 | $-0.12 | $2.91 | ||
| Q3 24 | $-0.30 | $2.75 | ||
| Q2 24 | $0.51 | $2.74 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $892.0M | $735.0M |
| Total DebtLower is stronger | $13.4B | — |
| Stockholders' EquityBook value | $18.3B | — |
| Total Assets | $45.2B | $69.6B |
| Debt / EquityLower = less leverage | 0.73× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $735.0M | ||
| Q4 25 | $892.0M | $1.3B | ||
| Q3 25 | $851.0M | $808.0M | ||
| Q2 25 | $778.0M | $1.1B | ||
| Q1 25 | $797.0M | $1.4B | ||
| Q4 24 | $855.0M | $1.0B | ||
| Q3 24 | — | $947.0M | ||
| Q2 24 | $26.8K | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | $13.4B | $30.3B | ||
| Q3 25 | $13.3B | $30.3B | ||
| Q2 25 | $13.3B | $30.3B | ||
| Q1 25 | $12.9B | $30.6B | ||
| Q4 24 | $12.5B | $29.8B | ||
| Q3 24 | $13.2B | $29.8B | ||
| Q2 24 | — | $31.2B |
| Q1 26 | — | — | ||
| Q4 25 | $18.3B | $18.5B | ||
| Q3 25 | $18.4B | $17.3B | ||
| Q2 25 | $18.3B | $16.3B | ||
| Q1 25 | $17.9B | $16.0B | ||
| Q4 24 | $17.4B | $16.9B | ||
| Q3 24 | $18.0B | $16.6B | ||
| Q2 24 | $14.5K | $16.5B |
| Q1 26 | — | $69.6B | ||
| Q4 25 | $45.2B | $69.7B | ||
| Q3 25 | $45.6B | $68.6B | ||
| Q2 25 | $45.7B | $68.6B | ||
| Q1 25 | $44.6B | $68.5B | ||
| Q4 24 | $43.8B | $67.7B | ||
| Q3 24 | $45.0B | $67.6B | ||
| Q2 24 | $26.8K | $67.8B |
| Q1 26 | — | — | ||
| Q4 25 | 0.73× | 1.64× | ||
| Q3 25 | 0.72× | 1.75× | ||
| Q2 25 | 0.73× | 1.86× | ||
| Q1 25 | 0.72× | 1.91× | ||
| Q4 24 | 0.72× | 1.76× | ||
| Q3 24 | 0.73× | 1.79× | ||
| Q2 24 | — | 1.89× |
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 | $1.2B | — |
| Free Cash FlowOCF − Capex | $612.0M | $631.0M |
| FCF MarginFCF / Revenue | 8.1% | 10.1% |
| Capex IntensityCapex / Revenue | 7.7% | — |
| Cash ConversionOCF / Net Profit | 12.32× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.2B | $4.8B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $2.2B | ||
| Q3 25 | $1.1B | $2.5B | ||
| Q2 25 | $829.0M | $2.3B | ||
| Q1 25 | $235.0M | $2.2B | ||
| Q4 24 | $781.0M | $2.7B | ||
| Q3 24 | $320.0M | $2.7B | ||
| Q2 24 | $340.0M | $1.9B |
| Q1 26 | — | $631.0M | ||
| Q4 25 | $612.0M | $1.2B | ||
| Q3 25 | $523.0M | $1.6B | ||
| Q2 25 | $307.0M | $1.4B | ||
| Q1 25 | $-242.0M | $1.3B | ||
| Q4 24 | $212.0M | $1.7B | ||
| Q3 24 | $-192.0M | $1.8B | ||
| Q2 24 | $163.0M | $1.0B |
| Q1 26 | — | 10.1% | ||
| Q4 25 | 8.1% | 20.1% | ||
| Q3 25 | 6.5% | 25.2% | ||
| Q2 25 | 3.9% | 22.7% | ||
| Q1 25 | -3.2% | 21.6% | ||
| Q4 24 | 2.8% | 28.4% | ||
| Q3 24 | -2.5% | 29.9% | ||
| Q2 24 | 5.5% | 16.8% |
| Q1 26 | — | — | ||
| Q4 25 | 7.7% | 16.4% | ||
| Q3 25 | 7.6% | 15.2% | ||
| Q2 25 | 6.6% | 15.2% | ||
| Q1 25 | 6.2% | 15.0% | ||
| Q4 24 | 7.5% | 15.1% | ||
| Q3 24 | 6.7% | 13.6% | ||
| Q2 24 | 6.0% | 15.0% |
| Q1 26 | — | — | ||
| Q4 25 | 12.32× | 1.20× | ||
| Q3 25 | 4.61× | 1.41× | ||
| Q2 25 | — | 1.24× | ||
| Q1 25 | 0.61× | 1.36× | ||
| Q4 24 | 5.35× | 1.51× | ||
| Q3 24 | — | 1.59× | ||
| Q2 24 | 2.58× | 1.14× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SW
| Packaging | $3.3B | 43% |
| Other | $3.2B | 43% |
| Paper | $1.1B | 14% |
UNP
| Freight revenues | $5.9B | 95% |
| Other revenues | $324.0M | 5% |
