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Smurfit Westrock（SW）与Block, Inc.（XYZ）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Block, Inc.的1.2倍（$7.6B vs $6.3B），Block, Inc.净利率更高（1.9% vs 1.3%，领先0.6%），Block, Inc.同比增速更快（3.6% vs 0.5%），Smurfit Westrock自由现金流更多（$612.0M vs $579.8M），过去两年Smurfit Westrock的营收复合增速更高（60.8% vs 2.4%）
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。
Block, Inc.是美国科技企业，面向消费者与商户提供金融服务，由杰克·多尔西于2009年创立，是美国销售点系统领域的市场领导者。截至2024年，平台服务5700万用户及400万商户，年支付处理规模达2410亿美元。
SW vs XYZ — 直观对比
营收规模更大
SW
是对方的1.2倍
$6.3B
营收增速更快
XYZ
高出3.1%
0.5%
净利率更高
XYZ
高出0.6%
1.3%
自由现金流更多
SW
多$32.2M
$579.8M
两年增速更快
SW
近两年复合增速
2.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $7.6B | $6.3B |
| 净利润 | $97.0M | $115.8M |
| 毛利率 | 18.2% | 45.9% |
| 营业利润率 | 5.1% | 7.8% |
| 净利率 | 1.3% | 1.9% |
| 营收同比 | 0.5% | 3.6% |
| 净利润同比 | -33.6% | -94.1% |
| 每股收益（稀释后） | $0.18 | $0.19 |
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SWXYZ
| Q4 25 | $7.6B | $6.3B | ||
| Q3 25 | $8.0B | $6.1B | ||
| Q2 25 | $7.9B | $6.1B | ||
| Q1 25 | $7.7B | $5.8B | ||
| Q4 24 | $7.5B | $6.0B | ||
| Q3 24 | $7.7B | $6.0B | ||
| Q2 24 | $3.0B | $6.2B | ||
| Q1 24 | $2.9B | $6.0B |
净利润SWXYZ
| Q4 25 | $97.0M | $115.8M | ||
| Q3 25 | $246.0M | $461.5M | ||
| Q2 25 | $-28.0M | $538.5M | ||
| Q1 25 | $384.0M | $189.9M | ||
| Q4 24 | $146.0M | $1.9B | ||
| Q3 24 | $-150.0M | $283.8M | ||
| Q2 24 | $132.0M | $195.3M | ||
| Q1 24 | $191.0M | $472.0M |
毛利率SWXYZ
| Q4 25 | 18.2% | 45.9% | ||
| Q3 25 | 19.6% | 43.5% | ||
| Q2 25 | 19.1% | 41.9% | ||
| Q1 25 | 20.6% | 39.7% | ||
| Q4 24 | 19.1% | 38.3% | ||
| Q3 24 | 17.6% | 37.6% | ||
| Q2 24 | 23.3% | 36.3% | ||
| Q1 24 | 24.2% | 35.2% |
营业利润率SWXYZ
| Q4 25 | 5.1% | 7.8% | ||
| Q3 25 | 6.6% | 6.7% | ||
| Q2 25 | 3.2% | 8.0% | ||
| Q1 25 | 7.2% | 5.7% | ||
| Q4 24 | 5.3% | 0.2% | ||
| Q3 24 | 0.7% | 5.4% | ||
| Q2 24 | 8.2% | 5.0% | ||
| Q1 24 | 10.5% | 4.2% |
净利率SWXYZ
| Q4 25 | 1.3% | 1.9% | ||
| Q3 25 | 3.1% | 7.5% | ||
| Q2 25 | -0.4% | 8.9% | ||
| Q1 25 | 5.0% | 3.3% | ||
| Q4 24 | 1.9% | 32.3% | ||
| Q3 24 | -2.0% | 4.7% | ||
| Q2 24 | 4.4% | 3.2% | ||
| Q1 24 | 6.5% | 7.9% |
每股收益（稀释后）SWXYZ
| Q4 25 | $0.18 | $0.19 | ||
| Q3 25 | $0.47 | $0.74 | ||
| Q2 25 | $-0.05 | $0.87 | ||
| Q1 25 | $0.73 | $0.30 | ||
| Q4 24 | $-0.12 | $3.06 | ||
| Q3 24 | $-0.30 | $0.45 | ||
| Q2 24 | $0.51 | $0.31 | ||
| Q1 24 | $0.73 | $0.74 |
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 | $6.6B |
| 总债务越低越好 | $13.4B | — |
| 股东权益账面价值 | $18.3B | $22.2B |
| 总资产 | $45.2B | $39.5B |
| 负债/权益比越低杠杆越低 | 0.73× | — |
8季度趋势，按日历期对齐
现金及短期投资SWXYZ
| Q4 25 | $892.0M | $6.6B | ||
| Q3 25 | $851.0M | $8.3B | ||
| Q2 25 | $778.0M | $6.4B | ||
| Q1 25 | $797.0M | $7.1B | ||
| Q4 24 | $855.0M | $8.1B | ||
| Q3 24 | — | $8.3B | ||
| Q2 24 | $26.8K | $7.8B | ||
| Q1 24 | $108 | $5.8B |
总债务SWXYZ
| Q4 25 | $13.4B | — | ||
| Q3 25 | $13.3B | $7.3B | ||
| Q2 25 | $13.3B | $5.1B | ||
| Q1 25 | $12.9B | $5.1B | ||
| Q4 24 | $12.5B | $6.1B | ||
| Q3 24 | $13.2B | $6.1B | ||
| Q2 24 | — | $6.1B | ||
| Q1 24 | — | $4.1B |
股东权益SWXYZ
| Q4 25 | $18.3B | $22.2B | ||
| Q3 25 | $18.4B | $22.5B | ||
| Q2 25 | $18.3B | $22.2B | ||
| Q1 25 | $17.9B | $21.5B | ||
| Q4 24 | $17.4B | $21.3B | ||
| Q3 24 | $18.0B | $19.9B | ||
| Q2 24 | $14.5K | $19.3B | ||
| Q1 24 | $108 | $19.0B |
总资产SWXYZ
| Q4 25 | $45.2B | $39.5B | ||
| Q3 25 | $45.6B | $39.2B | ||
| Q2 25 | $45.7B | $36.9B | ||
| Q1 25 | $44.6B | $36.4B | ||
| Q4 24 | $43.8B | $36.8B | ||
| Q3 24 | $45.0B | $36.4B | ||
| Q2 24 | $26.8K | $37.5B | ||
| Q1 24 | $108 | $35.6B |
负债/权益比SWXYZ
| Q4 25 | 0.73× | — | ||
| Q3 25 | 0.72× | 0.32× | ||
| Q2 25 | 0.73× | 0.23× | ||
| Q1 25 | 0.72× | 0.24× | ||
| Q4 24 | 0.72× | 0.29× | ||
| Q3 24 | 0.73× | 0.31× | ||
| Q2 24 | — | 0.32× | ||
| Q1 24 | — | 0.22× |
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 | $621.0M |
| 自由现金流经营现金流 - 资本支出 | $612.0M | $579.8M |
| 自由现金流率自由现金流/营收 | 8.1% | 9.3% |
| 资本支出强度资本支出/营收 | 7.7% | 0.7% |
| 现金转化率经营现金流/净利润 | 12.32× | 5.36× |
| 过去12个月自由现金流最近4个季度 | $1.2B | $2.4B |
8季度趋势，按日历期对齐
经营现金流SWXYZ
| Q4 25 | $1.2B | $621.0M | ||
| Q3 25 | $1.1B | $1.5B | ||
| Q2 25 | $829.0M | $374.3M | ||
| Q1 25 | $235.0M | $133.3M | ||
| Q4 24 | $781.0M | $13.8M | ||
| Q3 24 | $320.0M | $684.8M | ||
| Q2 24 | $340.0M | $519.4M | ||
| Q1 24 | $42.0M | $489.4M |
自由现金流SWXYZ
| Q4 25 | $612.0M | $579.8M | ||
| Q3 25 | $523.0M | $1.4B | ||
| Q2 25 | $307.0M | $343.0M | ||
| Q1 25 | $-242.0M | $101.5M | ||
| Q4 24 | $212.0M | $-13.2M | ||
| Q3 24 | $-192.0M | $628.2M | ||
| Q2 24 | $163.0M | $481.0M | ||
| Q1 24 | $-166.0M | $457.4M |
自由现金流率SWXYZ
| Q4 25 | 8.1% | 9.3% | ||
| Q3 25 | 6.5% | 22.9% | ||
| Q2 25 | 3.9% | 5.7% | ||
| Q1 25 | -3.2% | 1.8% | ||
| Q4 24 | 2.8% | -0.2% | ||
| Q3 24 | -2.5% | 10.5% | ||
| Q2 24 | 5.5% | 7.8% | ||
| Q1 24 | -5.7% | 7.7% |
资本支出强度SWXYZ
| Q4 25 | 7.7% | 0.7% | ||
| Q3 25 | 7.6% | 0.8% | ||
| Q2 25 | 6.6% | 0.5% | ||
| Q1 25 | 6.2% | 0.6% | ||
| Q4 24 | 7.5% | 0.4% | ||
| Q3 24 | 6.7% | 0.9% | ||
| Q2 24 | 6.0% | 0.6% | ||
| Q1 24 | 7.1% | 0.5% |
现金转化率SWXYZ
| Q4 25 | 12.32× | 5.36× | ||
| Q3 25 | 4.61× | 3.14× | ||
| Q2 25 | — | 0.70× | ||
| Q1 25 | 0.61× | 0.70× | ||
| Q4 24 | 5.35× | 0.01× | ||
| Q3 24 | — | 2.41× | ||
| Q2 24 | 2.58× | 2.66× | ||
| Q1 24 | 0.22× | 1.04× |
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% |
XYZ
| US | $5.7B | 91% |
| Non Us | $560.9M | 9% |
