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Side-by-side financial comparison of Smurfit Westrock (SW) and Vistra Corp. (VST). Click either name above to swap in a different company.
Smurfit Westrock is the larger business by last-quarter revenue ($7.6B vs $4.8B, roughly 1.6× Vistra Corp.). Vistra Corp. runs the higher net margin — 4.8% vs 1.3%, a 3.6% gap on every dollar of revenue. On growth, Vistra Corp. posted the faster year-over-year revenue change (31.2% vs 0.5%). Smurfit Westrock produced more free cash flow last quarter ($612.0M vs $596.0M). Over the past eight quarters, Smurfit Westrock's revenue compounded faster (60.8% CAGR vs 23.3%).
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.
Vistra may refer to either of two companies:Vistra, a corporate services company based in Hong Kong Vistra Corp, an energy company based in Texas
SW vs VST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $7.6B | $4.8B |
| Net Profit | $97.0M | $233.0M |
| Gross Margin | 18.2% | — |
| Operating Margin | 5.1% | 9.9% |
| Net Margin | 1.3% | 4.8% |
| Revenue YoY | 0.5% | 31.2% |
| Net Profit YoY | -33.6% | -47.2% |
| EPS (diluted) | $0.18 | $0.55 |
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 | $7.6B | $4.8B | ||
| Q3 25 | $8.0B | $4.8B | ||
| Q2 25 | $7.9B | $3.8B | ||
| Q1 25 | $7.7B | $4.3B | ||
| Q4 24 | $7.5B | $3.7B | ||
| Q3 24 | $7.7B | $4.3B | ||
| Q2 24 | $3.0B | $3.6B | ||
| Q1 24 | $2.9B | $3.2B |
| Q4 25 | $97.0M | $233.0M | ||
| Q3 25 | $246.0M | $652.0M | ||
| Q2 25 | $-28.0M | $327.0M | ||
| Q1 25 | $384.0M | $-268.0M | ||
| Q4 24 | $146.0M | $441.0M | ||
| Q3 24 | $-150.0M | $1.9B | ||
| Q2 24 | $132.0M | $365.0M | ||
| Q1 24 | $191.0M | $-35.0M |
| 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 | 5.1% | 9.9% | ||
| Q3 25 | 6.6% | 21.7% | ||
| Q2 25 | 3.2% | 13.7% | ||
| Q1 25 | 7.2% | -2.8% | ||
| Q4 24 | 5.3% | 16.4% | ||
| Q3 24 | 0.7% | 59.6% | ||
| Q2 24 | 8.2% | 22.5% | ||
| Q1 24 | 10.5% | 2.7% |
| Q4 25 | 1.3% | 4.8% | ||
| Q3 25 | 3.1% | 13.6% | ||
| Q2 25 | -0.4% | 8.7% | ||
| Q1 25 | 5.0% | -6.3% | ||
| Q4 24 | 1.9% | 12.0% | ||
| Q3 24 | -2.0% | 43.5% | ||
| Q2 24 | 4.4% | 10.1% | ||
| Q1 24 | 6.5% | -1.1% |
| Q4 25 | $0.18 | $0.55 | ||
| Q3 25 | $0.47 | $1.75 | ||
| Q2 25 | $-0.05 | $0.81 | ||
| Q1 25 | $0.73 | $-0.93 | ||
| Q4 24 | $-0.12 | $1.09 | ||
| Q3 24 | $-0.30 | $5.25 | ||
| Q2 24 | $0.51 | $0.90 | ||
| Q1 24 | $0.73 | $-0.24 |
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 | $785.0M |
| Total DebtLower is stronger | $13.4B | $15.8B |
| Stockholders' EquityBook value | $18.3B | $5.1B |
| Total Assets | $45.2B | $41.5B |
| Debt / EquityLower = less leverage | 0.73× | 3.11× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $892.0M | $785.0M | ||
| Q3 25 | $851.0M | $602.0M | ||
| Q2 25 | $778.0M | $458.0M | ||
| Q1 25 | $797.0M | $561.0M | ||
| Q4 24 | $855.0M | $1.2B | ||
| Q3 24 | — | $905.0M | ||
| Q2 24 | $26.8K | $1.6B | ||
| Q1 24 | $108 | $1.1B |
| Q4 25 | $13.4B | $15.8B | ||
| Q3 25 | $13.3B | $15.8B | ||
| Q2 25 | $13.3B | $15.5B | ||
| Q1 25 | $12.9B | $15.4B | ||
| Q4 24 | $12.5B | $15.4B | ||
| Q3 24 | $13.2B | $13.9B | ||
| Q2 24 | — | $13.9B | ||
| Q1 24 | — | $14.7B |
| Q4 25 | $18.3B | $5.1B | ||
| Q3 25 | $18.4B | $5.2B | ||
| Q2 25 | $18.3B | $4.8B | ||
| Q1 25 | $17.9B | $4.8B | ||
| Q4 24 | $17.4B | $5.6B | ||
| Q3 24 | $18.0B | $5.4B | ||
| Q2 24 | $14.5K | $5.6B | ||
| Q1 24 | $108 | $5.7B |
| Q4 25 | $45.2B | $41.5B | ||
| Q3 25 | $45.6B | $38.0B | ||
| Q2 25 | $45.7B | $38.1B | ||
| Q1 25 | $44.6B | $38.2B | ||
| Q4 24 | $43.8B | $37.8B | ||
| Q3 24 | $45.0B | $37.9B | ||
| Q2 24 | $26.8K | $39.1B | ||
| Q1 24 | $108 | $38.2B |
| Q4 25 | 0.73× | 3.11× | ||
| Q3 25 | 0.72× | 3.02× | ||
| Q2 25 | 0.73× | 3.22× | ||
| Q1 25 | 0.72× | 3.20× | ||
| Q4 24 | 0.72× | 2.77× | ||
| Q3 24 | 0.73× | 2.56× | ||
| Q2 24 | — | 2.49× | ||
| Q1 24 | — | 2.60× |
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 | $1.4B |
| Free Cash FlowOCF − Capex | $612.0M | $596.0M |
| FCF MarginFCF / Revenue | 8.1% | 12.4% |
| Capex IntensityCapex / Revenue | 7.7% | 17.4% |
| Cash ConversionOCF / Net Profit | 12.32× | 6.15× |
| TTM Free Cash FlowTrailing 4 quarters | $1.2B | $1.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.2B | $1.4B | ||
| Q3 25 | $1.1B | $1.5B | ||
| Q2 25 | $829.0M | $572.0M | ||
| Q1 25 | $235.0M | $599.0M | ||
| Q4 24 | $781.0M | $1.4B | ||
| Q3 24 | $320.0M | $1.7B | ||
| Q2 24 | $340.0M | $1.2B | ||
| Q1 24 | $42.0M | $312.0M |
| Q4 25 | $612.0M | $596.0M | ||
| Q3 25 | $523.0M | $1.0B | ||
| Q2 25 | $307.0M | $-118.0M | ||
| Q1 25 | $-242.0M | $-169.0M | ||
| Q4 24 | $212.0M | $923.0M | ||
| Q3 24 | $-192.0M | $1.0B | ||
| Q2 24 | $163.0M | $698.0M | ||
| Q1 24 | $-166.0M | $-153.0M |
| Q4 25 | 8.1% | 12.4% | ||
| Q3 25 | 6.5% | 21.1% | ||
| Q2 25 | 3.9% | -3.1% | ||
| Q1 25 | -3.2% | -4.0% | ||
| Q4 24 | 2.8% | 25.2% | ||
| Q3 24 | -2.5% | 23.4% | ||
| Q2 24 | 5.5% | 19.4% | ||
| Q1 24 | -5.7% | -4.8% |
| Q4 25 | 7.7% | 17.4% | ||
| Q3 25 | 7.6% | 9.6% | ||
| Q2 25 | 6.6% | 18.4% | ||
| Q1 25 | 6.2% | 18.1% | ||
| Q4 24 | 7.5% | 11.7% | ||
| Q3 24 | 6.7% | 15.8% | ||
| Q2 24 | 6.0% | 13.8% | ||
| Q1 24 | 7.1% | 14.7% |
| Q4 25 | 12.32× | 6.15× | ||
| Q3 25 | 4.61× | 2.25× | ||
| Q2 25 | — | 1.75× | ||
| Q1 25 | 0.61× | — | ||
| Q4 24 | 5.35× | 3.07× | ||
| Q3 24 | — | 0.90× | ||
| Q2 24 | 2.58× | 3.28× | ||
| Q1 24 | 0.22× | — |
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% |
VST
| Retail Energy Charge In ERCOT | $2.1B | 43% |
| Retail Energy Charge In Northeast Midwest | $1.2B | 24% |
| East Segment | $1.1B | 24% |
| Hedging Revenue Realized | $170.0M | 4% |
| Revenue From Other Wholesale Contracts | $116.0M | 2% |
| Transferable Production Tax Credit Revenues | $78.0M | 2% |
| West Segment | $77.0M | 2% |
| Intersegment Sales | $25.0M | 1% |
