Smurfit WestRock (MEX:SW1 N) Operating Income: MXN35,365 Mil (TTM As of Mar. 2026)


MEX:SW1 N Smurfit WestRock PLC MEX:SW1 N
78 GF Score
Price MXN680.00
GF Value MXN689.74
! 7 Warning Signs
View Full Analysis

What is Smurfit WestRock Operating Income?

Smurfit WestRock MEX:SW1 N 78 Operating Income is MXN35,365 Mil as of Mar. 2026. GuruFocus rates MEX:SW1 N with a GF Score™ of 78/100 and a GF Value™ of MXN689.74. The stock has 7 warning signs investors should review.

Smurfit WestRock's Operating Income for the three months ended in Mar. 2026 was MXN5,536 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was MXN35,365 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Smurfit WestRock's Operating Income for the three months ended in Mar. 2026 was MXN5,536 Mil. Smurfit WestRock's Revenue for the three months ended in Mar. 2026 was MXN139,068 Mil. Therefore, Smurfit WestRock's Operating Margin % for the quarter that ended in Mar. 2026 was 3.98%.

Warning Sign:

Smurfit WestRock PLC operating margin has been in a 5-year decline. The average rate of decline per year is -9.3%.

Smurfit WestRock's 5-Year average Growth Rate for Operating Margin % was -9.30% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Smurfit WestRock's annualized ROC % for the quarter that ended in Mar. 2026 was 2.29%. Smurfit WestRock's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 4.30%.


Smurfit WestRock  (MEX:SW1 N) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Smurfit WestRock's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=22144.156 * ( 1 - 25% )/( (721434.382 + 730612.874)/ 2 )
=16608.117/726023.628
=2.29 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=813083.395 - 75587.929 - ( 16061.084 - max(0, 127192.265 - 187961.502+16061.084))
=721434.382

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=814537.06 - 71770.146 - ( 12154.04 - max(0, 131891.168 - 190281.051+12154.04))
=730612.874

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Smurfit WestRock's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=20340.884/( ( (418308.423 + max(50938.125, 0)) + (412948.83 + max(63907.889, 0)) )/ 2 )
=20340.884/( ( 469246.548 + 476856.719 )/ 2 )
=20340.884/473051.6335
=4.30 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(76848.328 + 66495.05 + 28557.04) - (75587.929 + 0 + 45374.364)
=50938.125

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(83743.859 + 64611.164 + 29771.988) - (71770.146 + 0 + 42448.976)
=63907.889

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Smurfit WestRock's Operating Margin % for the quarter that ended in Mar. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2026 )/Revenue (Q: Mar. 2026 )
=5536.039/139068.183
=3.98 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Smurfit WestRock Operating Income Related Terms


Smurfit WestRock Operating Income Historical Data

* Premium members only.

The historical data trend for Smurfit WestRock's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Smurfit WestRock Operating Income Chart

Smurfit WestRock Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 24,921.91 33,708.58 25,155.84 30,407.61 40,044.68

Smurfit WestRock Quarterly Data
Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 12,049.88 10,393.72 11,116.59 8,318.63 5,536.04
MEX:SW1 N
78GF Score
Smurfit WestRock PLC MEX:SW1 N
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Smurfit WestRock Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was MXN35,365 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of MXN35,365 Mil mean?
Smurfit WestRock (MEX:SW1 N) has a Operating Income of MXN35,365 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Smurfit WestRock and its competitors.
Is Smurfit WestRock's Operating Income too high?
Smurfit WestRock's current Operating Income is MXN35,365 Mil. Overall, Smurfit WestRock has a GF Score™ of 78/100, reflecting its overall financial health beyond just this single metric.
How does Smurfit WestRock's Operating Income compare to PKG and IP?
Smurfit WestRock's Operating Income of MXN35,365 Mil can be compared against companies in the Packaging & Containers industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for a Packaging & Containers company?
A good Operating Income depends on the Packaging & Containers industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Smurfit WestRock and its competitors. Smurfit WestRock's current Operating Income is MXN35,365 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Smurfit WestRock stock overvalued right now?
Smurfit WestRock (MEX:SW1 N) has a current Operating Income of MXN35,365 Mil. The stock's GF Value™ is MXN689.74, compared to a current price of MXN680.00 — trading 1.4% below its estimated fair value. The current Operating Income is MXN35,365 Mil. Smurfit WestRock's overall GF Score™ is 78/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Smurfit WestRock (MEX:SW1 N), the current Operating Income is MXN35,365 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Smurfit WestRock (MEX:SW1 N) Overvalued in 2026?

Based on GuruFocus' analysis, Smurfit WestRock stock appears to be undervalued. The current stock price of MXN680.00 is trading 1.4% below its estimated GF Value™ of MXN689.74.

Key valuation signals for MEX:SW1 N:

  • Operating Income: MXN35,365 Mil
  • GF Value™: MXN689.74 vs. price of MXN680.00 (1.4% below fair value)
  • GF Score™: 78/100 with 7 warning signs

No single metric tells the full story. See the MEX:SW1 N stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Smurfit WestRock Business Description

Address Beech Hill, Clonskeagh, Dublin 4, Dublin, IRL, D04 N2R2
Smurfit WestRock PLC manufactures corrugated packaging and consumer packaging, such as folding cartons and paperboard. operates a vertically integrated system supplying wood and recovered fiber to produce various grades of board, which are then converted into packaging products. Its main packaging categories include corrugated containers and consumer packaging, with additional products such as solidboard, kraft paper, graphic board, paper sacks, and bag-in-box packaging. The company's geographical segments include North America (including the U.S., Canada and Mexico), Europe, the Middle East and Africa and Asia-Pacific, and Latin America. The majority of the company's revenue is derived from product sales in the North American region.
78GF Score

Get the complete analysis for MEX:SW1 N

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

MXN680.00
Price
MXN689.74
GF Value