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Smurfit Westrock（SW）与United Rentals（URI）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United Rentals的1.9倍（$7.6B vs $4.0B），United Rentals净利率更高（13.3% vs 1.3%，领先12.0%），United Rentals同比增速更快（7.2% vs 0.5%），United Rentals自由现金流更多（$1.1B vs $612.0M），过去两年United Rentals的营收复合增速更高（114.0% vs 60.8%）
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。
United Rentals是美国设备租赁企业，2022年占据北美市场约16%的份额。截至2025年，该公司拥有全球规模最大的租赁车队，覆盖约4800类设备，原始设备成本总计约205.9亿美元，在全球共设1625个营业网点，业务覆盖北美、欧洲、澳大利亚及新西兰。
SW vs URI — 直观对比
营收规模更大
SW
是对方的1.9倍
$4.0B
营收增速更快
URI
高出6.6%
0.5%
净利率更高
URI
高出12.0%
1.3%
自由现金流更多
URI
多$442.0M
$612.0M
两年增速更快
URI
近两年复合增速
60.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $7.6B | $4.0B |
| 净利润 | $97.0M | $531.0M |
| 毛利率 | 18.2% | 36.9% |
| 营业利润率 | 5.1% | 21.8% |
| 净利率 | 1.3% | 13.3% |
| 营收同比 | 0.5% | 7.2% |
| 净利润同比 | -33.6% | — |
| 每股收益（稀释后） | $0.18 | $8.43 |
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SWURI
| Q1 26 | — | $4.0B | ||
| Q4 25 | $7.6B | $992.0M | ||
| Q3 25 | $8.0B | $938.0M | ||
| Q2 25 | $7.9B | $872.0M | ||
| Q1 25 | $7.7B | $893.0M | ||
| Q4 24 | $7.5B | $1.0B | ||
| Q3 24 | $7.7B | $874.0M | ||
| Q2 24 | $3.0B | $870.0M |
净利润SWURI
| Q1 26 | — | $531.0M | ||
| Q4 25 | $97.0M | $653.0M | ||
| Q3 25 | $246.0M | $701.0M | ||
| Q2 25 | $-28.0M | $622.0M | ||
| Q1 25 | $384.0M | $518.0M | ||
| Q4 24 | $146.0M | $689.0M | ||
| Q3 24 | $-150.0M | $708.0M | ||
| Q2 24 | $132.0M | $636.0M |
毛利率SWURI
| Q1 26 | — | 36.9% | ||
| 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% | — |
营业利润率SWURI
| Q1 26 | — | 21.8% | ||
| Q4 25 | 5.1% | — | ||
| Q3 25 | 6.6% | — | ||
| Q2 25 | 3.2% | — | ||
| Q1 25 | 7.2% | 90.0% | ||
| Q4 24 | 5.3% | — | ||
| Q3 24 | 0.7% | — | ||
| Q2 24 | 8.2% | — |
净利率SWURI
| Q1 26 | — | 13.3% | ||
| Q4 25 | 1.3% | 65.8% | ||
| Q3 25 | 3.1% | 74.7% | ||
| Q2 25 | -0.4% | 71.3% | ||
| Q1 25 | 5.0% | 58.0% | ||
| Q4 24 | 1.9% | 67.6% | ||
| Q3 24 | -2.0% | 81.0% | ||
| Q2 24 | 4.4% | 73.1% |
每股收益（稀释后）SWURI
| Q1 26 | — | $8.43 | ||
| Q4 25 | $0.18 | $10.20 | ||
| Q3 25 | $0.47 | $10.91 | ||
| Q2 25 | $-0.05 | $9.59 | ||
| Q1 25 | $0.73 | $7.91 | ||
| Q4 24 | $-0.12 | $10.41 | ||
| Q3 24 | $-0.30 | $10.70 | ||
| Q2 24 | $0.51 | $9.54 |
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 | $892.0M | $156.0M |
| 总债务越低越好 | $13.4B | $13.9B |
| 股东权益账面价值 | $18.3B | $9.0B |
| 总资产 | $45.2B | $29.9B |
| 负债/权益比越低杠杆越低 | 0.73× | 1.55× |
8季度趋势，按日历期对齐
现金及短期投资SWURI
| Q1 26 | — | $156.0M | ||
| Q4 25 | $892.0M | $459.0M | ||
| Q3 25 | $851.0M | $512.0M | ||
| Q2 25 | $778.0M | $548.0M | ||
| Q1 25 | $797.0M | $542.0M | ||
| Q4 24 | $855.0M | $457.0M | ||
| Q3 24 | — | $479.0M | ||
| Q2 24 | $26.8K | $467.0M |
总债务SWURI
| Q1 26 | — | $13.9B | ||
| Q4 25 | $13.4B | $12.7B | ||
| Q3 25 | $13.3B | $12.6B | ||
| Q2 25 | $13.3B | $12.1B | ||
| Q1 25 | $12.9B | $11.5B | ||
| Q4 24 | $12.5B | $12.2B | ||
| Q3 24 | $13.2B | $11.9B | ||
| Q2 24 | — | $11.5B |
股东权益SWURI
| Q1 26 | — | $9.0B | ||
| Q4 25 | $18.3B | $9.0B | ||
| Q3 25 | $18.4B | $9.0B | ||
| Q2 25 | $18.3B | $9.0B | ||
| Q1 25 | $17.9B | $8.8B | ||
| Q4 24 | $17.4B | $8.6B | ||
| Q3 24 | $18.0B | $8.6B | ||
| Q2 24 | $14.5K | $8.3B |
总资产SWURI
| Q1 26 | — | $29.9B | ||
| Q4 25 | $45.2B | $29.9B | ||
| Q3 25 | $45.6B | $30.1B | ||
| Q2 25 | $45.7B | $29.2B | ||
| Q1 25 | $44.6B | $28.1B | ||
| Q4 24 | $43.8B | $28.2B | ||
| Q3 24 | $45.0B | $28.4B | ||
| Q2 24 | $26.8K | $27.6B |
负债/权益比SWURI
| Q1 26 | — | 1.55× | ||
| Q4 25 | 0.73× | 1.41× | ||
| Q3 25 | 0.72× | 1.40× | ||
| Q2 25 | 0.73× | 1.34× | ||
| Q1 25 | 0.72× | 1.31× | ||
| Q4 24 | 0.72× | 1.42× | ||
| Q3 24 | 0.73× | 1.38× | ||
| Q2 24 | — | 1.39× |
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 | $1.2B | $1.5B |
| 自由现金流经营现金流 - 资本支出 | $612.0M | $1.1B |
| 自由现金流率自由现金流/营收 | 8.1% | 26.4% |
| 资本支出强度资本支出/营收 | 7.7% | — |
| 现金转化率经营现金流/净利润 | 12.32× | 2.85× |
| 过去12个月自由现金流最近4个季度 | $1.2B | — |
8季度趋势，按日历期对齐
经营现金流SWURI
| Q1 26 | — | $1.5B | ||
| Q4 25 | $1.2B | $1.3B | ||
| Q3 25 | $1.1B | $1.2B | ||
| Q2 25 | $829.0M | $1.3B | ||
| Q1 25 | $235.0M | $1.4B | ||
| Q4 24 | $781.0M | $1.0B | ||
| Q3 24 | $320.0M | $1.2B | ||
| Q2 24 | $340.0M | $1.3B |
自由现金流SWURI
| Q1 26 | — | $1.1B | ||
| Q4 25 | $612.0M | — | ||
| Q3 25 | $523.0M | — | ||
| Q2 25 | $307.0M | — | ||
| Q1 25 | $-242.0M | — | ||
| Q4 24 | $212.0M | $471.0M | ||
| Q3 24 | $-192.0M | $-168.0M | ||
| Q2 24 | $163.0M | $-263.0M |
自由现金流率SWURI
| Q1 26 | — | 26.4% | ||
| Q4 25 | 8.1% | — | ||
| Q3 25 | 6.5% | — | ||
| Q2 25 | 3.9% | — | ||
| Q1 25 | -3.2% | — | ||
| Q4 24 | 2.8% | 46.2% | ||
| Q3 24 | -2.5% | -19.2% | ||
| Q2 24 | 5.5% | -30.2% |
资本支出强度SWURI
| Q1 26 | — | — | ||
| Q4 25 | 7.7% | — | ||
| Q3 25 | 7.6% | — | ||
| Q2 25 | 6.6% | — | ||
| Q1 25 | 6.2% | — | ||
| Q4 24 | 7.5% | 56.6% | ||
| Q3 24 | 6.7% | 157.0% | ||
| Q2 24 | 6.0% | 175.6% |
现金转化率SWURI
| Q1 26 | — | 2.85× | ||
| Q4 25 | 12.32× | 1.92× | ||
| Q3 25 | 4.61× | 1.68× | ||
| Q2 25 | — | 2.14× | ||
| Q1 25 | 0.61× | 2.75× | ||
| Q4 24 | 5.35× | 1.52× | ||
| Q3 24 | — | 1.70× | ||
| Q2 24 | 2.58× | 1.99× |
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
| Packaging | $3.3B | 43% |
| Other | $3.2B | 43% |
| Paper | $1.1B | 14% |
URI
| Equipment rentals | $3.4B | 86% |
| Sales of rental equipment | $350.0M | 9% |
| Service and other revenues | $92.0M | 2% |
| Sales of new equipment | $84.0M | 2% |
| Contractor supplies sales | $40.0M | 1% |
