Company Valuation: Smurfit Westrock Plc

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 13,830 9,597 10,558 27,910 20,137 21,558 - -
Change - -30.61% 10.02% 164.34% -27.85% 7.06% - -
Enterprise Value (EV) 1 17,129 12,807 13,614 40,650 35,043 34,051 33,508 32,428
Change - -25.23% 6.3% 198.59% -13.79% -2.83% -1.6% -3.22%
P/E ratio - - - 65.7x 29.1x 17.6x 13.2x 11.6x
PBR - - - 1.61x 1.1x 1.15x 1.11x 1.05x
PEG - - - - 0.5x 0.2x 0.4x 0.9x
Capitalization / Revenue 1.2x 0.7x 0.87x 1.32x 0.65x 0.68x 0.66x 0.65x
EV / Revenue 1.48x 0.93x 1.12x 1.93x 1.12x 1.08x 1.03x 0.98x
EV / EBITDA 8.8x 5.07x 6.08x 12x 7.1x 6.58x 5.92x 5.41x
EV / EBIT 14x 7.18x 9.02x 29x 20.4x 13.6x 11.4x 10.1x
EV / FCF 32.9x 21.9x 20.1x 94.8x 23.3x 22.4x 19x 13.2x
FCF Yield 3.04% 4.57% 4.96% 1.06% 4.28% 4.46% 5.27% 7.6%
Dividend per Share 2 - - - 0.605 - 1.827 1.861 1.965
Rate of return - - - 1.12% - 4.43% 4.52% 4.77%
EPS 2 - - - 0.82 1.33 2.338 3.118 3.541
Distribution rate - - - 73.8% - 78.1% 59.7% 55.5%
Net sales 1 11,559 13,749 12,128 21,109 31,179 31,552 32,648 33,150
EBITDA 1 1,946 2,527 2,238 3,386 4,939 5,176 5,662 5,996
EBIT 1 1,227 1,783 1,510 1,402 1,719 2,506 2,932 3,197
Net income 1 776.5 1,013 815.6 319 699 1,224 1,621 1,851
Net Debt 1 3,299 3,210 3,056 12,740 14,906 12,493 11,950 10,870
Reference price 2 53.75 37.33 40.81 53.86 38.67 41.22 41.22 41.22
Nbr of stocks (in thousands) 2,57,299 2,57,059 2,58,721 5,18,199 5,20,740 5,23,009 - -
Announcement Date 09/02/22 08/02/23 07/02/24 12/02/25 11/02/26 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
17.47x1.08x6.57x4.43% 2.16TCr
23.84x1.1x8.04x5.26% 1.88TCr
20.87x2.14x10.38x2.39% 1.86TCr
20.03x2.09x8.7x2.16% 565.06Cr
12.58x1.24x7.11x3.81% 560.14Cr
20.67x0.87x7.21x2.57% 503.13Cr
21.18x2.29x14.35x3.2% 506.14Cr
11.94x1.02x6.66x4.11% 349.46Cr
14.29x0.91x7x4.51% 288.05Cr
Average 18.10x 1.42x 8.45x 3.6% 962.89Cr
Weighted average by Cap. 19.50x 1.44x 8.39x 3.79%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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