GPK vs SW
Graphic Packaging Holding Co. and Smurfit Westrock PLC, side by side — 4 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | GPK | SW |
|---|---|---|
| Revenue | $8.6B | $31.2B |
| Net income | $444.0M | $699.0M |
| Gross margin | 18.6% | 19.4% |
| Net margin | 5.2% | 2.2% |
| Return on equity | 14.0% | 3.9% |
| Diluted EPS | $1.48 | $1.33 |
| Dividend / share | · | $1.72 |
| Payout ratio | 28.8% | 128.8% |
| Free cash flow | · | $1.2B |
| Equity | $3.3B | $18.3B |
| Net debt / equity | 1.58× | 0.69× |
| Current ratio | 1.30× | 1.48× |
| Revenue CAGR 5y | 5.6% | · |
| Profit CAGR 5y | 21.6% | · |
SW bills 3.6× the revenue of GPK, and GPK keeps more of each dollar of revenue as profit (5.2% against 2.2%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
4 years side by side
| Fiscal year | GPK | SW |
|---|---|---|
| FY2025 | $8.6B | $31.2B |
| FY2024 | $8.8B | $21.1B |
| FY2023 | $9.4B | $12.1B |
| FY2022 | $9.4B | $13.5B |
Bottom line
| Fiscal year | GPK | SW |
|---|---|---|
| FY2025 | $444.0M | $699.0M |
| FY2024 | $658.0M | $319.0M |
| FY2023 | $723.0M | $825.0M |
| FY2022 | $522.0M | $1.0B |
Standard deviation, each side
SW's net margin has been more volatile than GPK's over the 4 comparable fiscal years — 2.7 percentage points of standard deviation against 1.1.
4 of 17 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between GPK and SW over these 4 fiscal years — GPK led in 3 and SW in 1.
4 of 17 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
SW's return on equity has been more volatile than GPK's over the 4 comparable fiscal years — 7.0 percentage points of standard deviation against 5.7.
4 of 17 comparable fiscal years — a year missing data on either side is not counted.
Year by year
GPK led in return on equity in every one of the 4 comparable fiscal years — a structural lead, not a recent swing.
4 of 17 comparable fiscal years — a year missing data on either side is not counted.