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Smurfit Westrock（SW）与Targa Resources（TRGP）财务数据对比。点击上方公司名可切换其他公司
Smurfit Westrock的季度营收约是Targa Resources的1.9倍（$7.7B vs $4.1B），Targa Resources净利率更高（13.4% vs 0.8%，领先12.6%），Smurfit Westrock同比增速更快（0.7% vs -7.9%），过去两年Smurfit Westrock的营收复合增速更高（61.2% vs 0.8%）
Smurfit Westrock plc是总部位于爱尔兰都柏林的企业，核心业务为生产瓦楞包装及各类纸制包装产品，公司股票同时在纽约证券交易所和伦敦证券交易所挂牌上市。
Targa Resources Corp.为财富500强企业，总部位于美国得克萨斯州休斯敦，是美国规模最大的中游能源基础设施企业之一，主营天然气及天然气凝液输送业务，运营资产主要集中在墨西哥湾沿岸，得克萨斯州与路易斯安那州为核心布局区域，马修·J·梅洛伊自2020年起担任首席执行官。
SW vs TRGP — 直观对比
营收规模更大
SW
是对方的1.9倍
$4.1B
营收增速更快
SW
高出8.7%
-7.9%
净利率更高
TRGP
高出12.6%
0.8%
两年增速更快
SW
近两年复合增速
0.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $7.7B | $4.1B |
| 净利润 | $63.0M | $545.0M |
| 毛利率 | 16.4% | 43.1% |
| 营业利润率 | 3.3% | 22.6% |
| 净利率 | 0.8% | 13.4% |
| 营收同比 | 0.7% | -7.9% |
| 净利润同比 | 0.0% | 55.3% |
| 每股收益（稀释后） | $0.12 | $2.51 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收SWTRGP
| Q1 26 | $7.7B | — | ||
| Q4 25 | $7.6B | $4.1B | ||
| Q3 25 | $8.0B | $4.2B | ||
| Q2 25 | $7.9B | $4.3B | ||
| Q1 25 | $7.7B | $4.6B | ||
| Q4 24 | $7.5B | $4.4B | ||
| Q3 24 | $7.7B | $3.9B | ||
| Q2 24 | $3.0B | $3.0B |
净利润SWTRGP
| Q1 26 | $63.0M | — | ||
| Q4 25 | $97.0M | $545.0M | ||
| Q3 25 | $246.0M | $478.4M | ||
| Q2 25 | $-28.0M | $629.1M | ||
| Q1 25 | $384.0M | $270.5M | ||
| Q4 24 | $146.0M | $350.9M | ||
| Q3 24 | $-150.0M | $387.4M | ||
| Q2 24 | $132.0M | $298.5M |
毛利率SWTRGP
| Q1 26 | 16.4% | — | ||
| Q4 25 | 18.2% | 43.1% | ||
| Q3 25 | 19.6% | 39.6% | ||
| Q2 25 | 19.1% | 42.8% | ||
| Q1 25 | 20.6% | 28.6% | ||
| Q4 24 | 19.1% | 33.7% | ||
| Q3 24 | 17.6% | 38.6% | ||
| Q2 24 | 23.3% | 27.9% |
营业利润率SWTRGP
| Q1 26 | 3.3% | — | ||
| Q4 25 | 5.1% | 22.6% | ||
| Q3 25 | 6.6% | 20.2% | ||
| Q2 25 | 3.2% | 24.3% | ||
| Q1 25 | 7.2% | 11.9% | ||
| Q4 24 | 5.3% | 15.9% | ||
| Q3 24 | 0.7% | 18.9% | ||
| Q2 24 | 8.2% | 20.6% |
净利率SWTRGP
| Q1 26 | 0.8% | — | ||
| Q4 25 | 1.3% | 13.4% | ||
| Q3 25 | 3.1% | 11.5% | ||
| Q2 25 | -0.4% | 14.8% | ||
| Q1 25 | 5.0% | 5.9% | ||
| Q4 24 | 1.9% | 8.0% | ||
| Q3 24 | -2.0% | 10.1% | ||
| Q2 24 | 4.4% | 9.8% |
每股收益（稀释后）SWTRGP
| Q1 26 | $0.12 | — | ||
| Q4 25 | $0.18 | $2.51 | ||
| Q3 25 | $0.47 | $2.20 | ||
| Q2 25 | $-0.05 | $2.87 | ||
| Q1 25 | $0.73 | $0.91 | ||
| Q4 24 | $-0.12 | $1.44 | ||
| Q3 24 | $-0.30 | $1.75 | ||
| Q2 24 | $0.51 | $1.33 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | — | $166.1M |
| 总债务越低越好 | $980.0M | $16.7B |
| 股东权益账面价值 | $18.1B | $3.1B |
| 总资产 | $45.2B | $25.2B |
| 负债/权益比越低杠杆越低 | 0.05× | 5.43× |
8季度趋势，按日历期对齐
现金及短期投资SWTRGP
| Q1 26 | — | — | ||
| Q4 25 | $892.0M | $166.1M | ||
| Q3 25 | $851.0M | $124.1M | ||
| Q2 25 | $778.0M | $113.1M | ||
| Q1 25 | $797.0M | $151.4M | ||
| Q4 24 | $855.0M | $157.3M | ||
| Q3 24 | — | $127.2M | ||
| Q2 24 | $26.8K | $166.4M |
总债务SWTRGP
| Q1 26 | $980.0M | — | ||
| Q4 25 | $13.4B | $16.7B | ||
| Q3 25 | $13.3B | $16.7B | ||
| Q2 25 | $13.3B | $16.1B | ||
| Q1 25 | $12.9B | $15.5B | ||
| Q4 24 | $12.5B | $13.8B | ||
| Q3 24 | $13.2B | $13.6B | ||
| Q2 24 | — | $13.0B |
股东权益SWTRGP
| Q1 26 | $18.1B | — | ||
| Q4 25 | $18.3B | $3.1B | ||
| Q3 25 | $18.4B | $2.7B | ||
| Q2 25 | $18.3B | $2.6B | ||
| Q1 25 | $17.9B | $2.5B | ||
| Q4 24 | $17.4B | $2.6B | ||
| Q3 24 | $18.0B | $2.6B | ||
| Q2 24 | $14.5K | $2.5B |
总资产SWTRGP
| Q1 26 | $45.2B | — | ||
| Q4 25 | $45.2B | $25.2B | ||
| Q3 25 | $45.6B | $24.2B | ||
| Q2 25 | $45.7B | $23.5B | ||
| Q1 25 | $44.6B | $22.8B | ||
| Q4 24 | $43.8B | $22.7B | ||
| Q3 24 | $45.0B | $21.9B | ||
| Q2 24 | $26.8K | $21.3B |
负债/权益比SWTRGP
| Q1 26 | 0.05× | — | ||
| Q4 25 | 0.73× | 5.43× | ||
| Q3 25 | 0.72× | 6.19× | ||
| Q2 25 | 0.73× | 6.21× | ||
| Q1 25 | 0.72× | 6.34× | ||
| Q4 24 | 0.72× | 5.32× | ||
| Q3 24 | 0.73× | 5.28× | ||
| Q2 24 | — | 5.25× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $204.0M | $1.5B |
| 自由现金流经营现金流 - 资本支出 | — | $542.3M |
| 自由现金流率自由现金流/营收 | — | 13.4% |
| 资本支出强度资本支出/营收 | — | 23.8% |
| 现金转化率经营现金流/净利润 | 3.24× | 2.76× |
| 过去12个月自由现金流最近4个季度 | — | $584.1M |
8季度趋势，按日历期对齐
经营现金流SWTRGP
| Q1 26 | $204.0M | — | ||
| Q4 25 | $1.2B | $1.5B | ||
| Q3 25 | $1.1B | $599.2M | ||
| Q2 25 | $829.0M | $858.3M | ||
| Q1 25 | $235.0M | $954.4M | ||
| Q4 24 | $781.0M | $1.3B | ||
| Q3 24 | $320.0M | $540.9M | ||
| Q2 24 | $340.0M | $904.5M |
自由现金流SWTRGP
| Q1 26 | — | — | ||
| Q4 25 | $612.0M | $542.3M | ||
| Q3 25 | $523.0M | $-72.6M | ||
| Q2 25 | $307.0M | $-47.8M | ||
| Q1 25 | $-242.0M | $162.2M | ||
| Q4 24 | $212.0M | $601.0M | ||
| Q3 24 | $-192.0M | $-287.9M | ||
| Q2 24 | $163.0M | $164.2M |
自由现金流率SWTRGP
| Q1 26 | — | — | ||
| Q4 25 | 8.1% | 13.4% | ||
| Q3 25 | 6.5% | -1.7% | ||
| Q2 25 | 3.9% | -1.1% | ||
| Q1 25 | -3.2% | 3.6% | ||
| Q4 24 | 2.8% | 13.6% | ||
| Q3 24 | -2.5% | -7.5% | ||
| Q2 24 | 5.5% | 5.4% |
资本支出强度SWTRGP
| Q1 26 | — | — | ||
| Q4 25 | 7.7% | 23.8% | ||
| Q3 25 | 7.6% | 16.2% | ||
| Q2 25 | 6.6% | 21.3% | ||
| Q1 25 | 6.2% | 17.4% | ||
| Q4 24 | 7.5% | 16.5% | ||
| Q3 24 | 6.7% | 21.5% | ||
| Q2 24 | 6.0% | 24.3% |
现金转化率SWTRGP
| Q1 26 | 3.24× | — | ||
| Q4 25 | 12.32× | 2.76× | ||
| Q3 25 | 4.61× | 1.25× | ||
| Q2 25 | — | 1.36× | ||
| Q1 25 | 0.61× | 3.53× | ||
| Q4 24 | 5.35× | 3.78× | ||
| Q3 24 | — | 1.40× | ||
| Q2 24 | 2.58× | 3.03× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
SW
暂无分部数据
TRGP
| Logistics And Transportation | $3.4B | 83% |
| Natural Gas Reserves | $393.1M | 10% |
| Storage Terminaling And Export | $130.9M | 3% |
| Oil And Condensate | $112.0M | 3% |
| NGL Transportation Fractionation And Services | $64.7M | 2% |
