vs
Smurfit Westrock（SW）与Williams Companies（WMB）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Williams Companies的2.0倍（$7.6B vs $3.8B），Williams Companies净利率更高（19.1% vs 1.3%，领先17.8%），Williams Companies同比增速更快（12.7% vs 0.5%），Smurfit Westrock自由现金流更多（$612.0M vs $-379.0M），过去两年Smurfit Westrock的营收复合增速更高（60.8% vs 7.3%）
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。
总部位于美国俄克拉荷马州塔尔萨的能源企业，位列《财富》美国500强，普通股为标普500指数成分股，核心业务为天然气加工与运输，同时持有石油、发电相关资产。
SW vs WMB — 直观对比
营收规模更大
SW
是对方的2.0倍
$3.8B
营收增速更快
WMB
高出12.1%
0.5%
净利率更高
WMB
高出17.8%
1.3%
自由现金流更多
SW
多$991.0M
$-379.0M
两年增速更快
SW
近两年复合增速
7.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $7.6B | $3.8B |
| 净利润 | $97.0M | $734.0M |
| 毛利率 | 18.2% | — |
| 营业利润率 | 5.1% | 27.3% |
| 净利率 | 1.3% | 19.1% |
| 营收同比 | 0.5% | 12.7% |
| 净利润同比 | -33.6% | 51.0% |
| 每股收益（稀释后） | $0.18 | $0.60 |
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SWWMB
| Q4 25 | $7.6B | $3.8B | ||
| Q3 25 | $8.0B | $3.5B | ||
| Q2 25 | $7.9B | $3.4B | ||
| Q1 25 | $7.7B | $4.2B | ||
| Q4 24 | $7.5B | $3.4B | ||
| Q3 24 | $7.7B | $3.0B | ||
| Q2 24 | $3.0B | $2.8B | ||
| Q1 24 | $2.9B | $3.3B |
净利润SWWMB
| Q4 25 | $97.0M | $734.0M | ||
| Q3 25 | $246.0M | $647.0M | ||
| Q2 25 | $-28.0M | $546.0M | ||
| Q1 25 | $384.0M | $691.0M | ||
| Q4 24 | $146.0M | $486.0M | ||
| Q3 24 | $-150.0M | $706.0M | ||
| Q2 24 | $132.0M | $401.0M | ||
| Q1 24 | $191.0M | $632.0M |
毛利率SWWMB
| 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% | — |
营业利润率SWWMB
| Q4 25 | 5.1% | 27.3% | ||
| Q3 25 | 6.6% | 31.8% | ||
| Q2 25 | 3.2% | 28.0% | ||
| Q1 25 | 7.2% | 26.1% | ||
| Q4 24 | 5.3% | 23.2% | ||
| Q3 24 | 0.7% | 27.6% | ||
| Q2 24 | 8.2% | 24.4% | ||
| Q1 24 | 10.5% | 30.3% |
净利率SWWMB
| Q4 25 | 1.3% | 19.1% | ||
| Q3 25 | 3.1% | 18.5% | ||
| Q2 25 | -0.4% | 16.2% | ||
| Q1 25 | 5.0% | 16.5% | ||
| Q4 24 | 1.9% | 14.2% | ||
| Q3 24 | -2.0% | 23.3% | ||
| Q2 24 | 4.4% | 14.1% | ||
| Q1 24 | 6.5% | 18.9% |
每股收益（稀释后）SWWMB
| Q4 25 | $0.18 | $0.60 | ||
| Q3 25 | $0.47 | $0.53 | ||
| Q2 25 | $-0.05 | $0.45 | ||
| Q1 25 | $0.73 | $0.56 | ||
| Q4 24 | $-0.12 | $0.39 | ||
| Q3 24 | $-0.30 | $0.58 | ||
| Q2 24 | $0.51 | $0.33 | ||
| Q1 24 | $0.73 | $0.52 |
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 | — |
| 总债务越低越好 | $13.4B | $27.3B |
| 股东权益账面价值 | $18.3B | $12.8B |
| 总资产 | $45.2B | $58.6B |
| 负债/权益比越低杠杆越低 | 0.73× | 2.13× |
8季度趋势，按日历期对齐
现金及短期投资SWWMB
| Q4 25 | $892.0M | — | ||
| Q3 25 | $851.0M | — | ||
| Q2 25 | $778.0M | — | ||
| Q1 25 | $797.0M | — | ||
| Q4 24 | $855.0M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $26.8K | — | ||
| Q1 24 | $108 | — |
总债务SWWMB
| Q4 25 | $13.4B | $27.3B | ||
| Q3 25 | $13.3B | $25.6B | ||
| Q2 25 | $13.3B | $25.6B | ||
| Q1 25 | $12.9B | $24.1B | ||
| Q4 24 | $12.5B | $24.7B | ||
| Q3 24 | $13.2B | $24.8B | ||
| Q2 24 | — | $24.1B | ||
| Q1 24 | — | $24.1B |
股东权益SWWMB
| Q4 25 | $18.3B | $12.8B | ||
| Q3 25 | $18.4B | $12.5B | ||
| Q2 25 | $18.3B | $12.4B | ||
| Q1 25 | $17.9B | $12.5B | ||
| Q4 24 | $17.4B | $12.4B | ||
| Q3 24 | $18.0B | $12.4B | ||
| Q2 24 | $14.5K | $12.3B | ||
| Q1 24 | $108 | $12.4B |
总资产SWWMB
| Q4 25 | $45.2B | $58.6B | ||
| Q3 25 | $45.6B | $55.7B | ||
| Q2 25 | $45.7B | $56.1B | ||
| Q1 25 | $44.6B | $54.9B | ||
| Q4 24 | $43.8B | $54.5B | ||
| Q3 24 | $45.0B | $53.8B | ||
| Q2 24 | $26.8K | $52.4B | ||
| Q1 24 | $108 | $52.7B |
负债/权益比SWWMB
| Q4 25 | 0.73× | 2.13× | ||
| Q3 25 | 0.72× | 2.04× | ||
| Q2 25 | 0.73× | 2.06× | ||
| Q1 25 | 0.72× | 1.93× | ||
| Q4 24 | 0.72× | 1.99× | ||
| Q3 24 | 0.73× | 2.00× | ||
| Q2 24 | — | 1.96× | ||
| Q1 24 | — | 1.94× |
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 | $1.6B |
| 自由现金流经营现金流 - 资本支出 | $612.0M | $-379.0M |
| 自由现金流率自由现金流/营收 | 8.1% | -9.9% |
| 资本支出强度资本支出/营收 | 7.7% | 50.9% |
| 现金转化率经营现金流/净利润 | 12.32× | 2.15× |
| 过去12个月自由现金流最近4个季度 | $1.2B | $1.0B |
8季度趋势，按日历期对齐
经营现金流SWWMB
| Q4 25 | $1.2B | $1.6B | ||
| Q3 25 | $1.1B | $1.4B | ||
| Q2 25 | $829.0M | $1.4B | ||
| Q1 25 | $235.0M | $1.4B | ||
| Q4 24 | $781.0M | $1.2B | ||
| Q3 24 | $320.0M | $1.2B | ||
| Q2 24 | $340.0M | $1.3B | ||
| Q1 24 | $42.0M | $1.2B |
自由现金流SWWMB
| Q4 25 | $612.0M | $-379.0M | ||
| Q3 25 | $523.0M | $485.0M | ||
| Q2 25 | $307.0M | $478.0M | ||
| Q1 25 | $-242.0M | $421.0M | ||
| Q4 24 | $212.0M | $450.0M | ||
| Q3 24 | $-192.0M | $561.0M | ||
| Q2 24 | $163.0M | $700.0M | ||
| Q1 24 | $-166.0M | $690.0M |
自由现金流率SWWMB
| Q4 25 | 8.1% | -9.9% | ||
| Q3 25 | 6.5% | 13.9% | ||
| Q2 25 | 3.9% | 14.2% | ||
| Q1 25 | -3.2% | 10.1% | ||
| Q4 24 | 2.8% | 13.2% | ||
| Q3 24 | -2.5% | 18.5% | ||
| Q2 24 | 5.5% | 24.6% | ||
| Q1 24 | -5.7% | 20.7% |
资本支出强度SWWMB
| Q4 25 | 7.7% | 50.9% | ||
| Q3 25 | 7.6% | 27.3% | ||
| Q2 25 | 6.6% | 28.8% | ||
| Q1 25 | 6.2% | 24.2% | ||
| Q4 24 | 7.5% | 22.5% | ||
| Q3 24 | 6.7% | 22.5% | ||
| Q2 24 | 6.0% | 20.3% | ||
| Q1 24 | 7.1% | 16.3% |
现金转化率SWWMB
| Q4 25 | 12.32× | 2.15× | ||
| Q3 25 | 4.61× | 2.22× | ||
| Q2 25 | — | 2.66× | ||
| Q1 25 | 0.61× | 2.07× | ||
| Q4 24 | 5.35× | 2.51× | ||
| Q3 24 | — | 1.76× | ||
| Q2 24 | 2.58× | 3.19× | ||
| Q1 24 | 0.22× | 1.95× |
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% |
WMB
| Services | $2.2B | 57% |
| Natural Gas Us Regulated | $740.0M | 19% |
| West | $730.0M | 19% |
| Non Regulated Service Commodity Consideration | $51.0M | 1% |
| Natural Gas Gathering Transportation Marketing And Processing | $45.0M | 1% |
| Affiliated Entity | $23.0M | 1% |
| Other | $14.0M | 0% |
| Other Service | $11.0M | 0% |
