Smurfit Westrock (SW) Operating Expenses (2023 - 2026)
Smurfit Westrock (SW) reported Operating Expenses of $1.09 billion for Q2 2026, down 12.4% from $1.24 billion a year earlier but up 7.3% from the prior quarter.
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Analysis
Smurfit Westrock (SW) Operating Expenses (2023 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Smurfit Westrock's Operating Expenses came in at $4.08 billion, down 4.2% year-over-year; for FY2025, it was $4.2 billion, up 50.5% from FY2024.
- Operating Expenses has increased for three consecutive years, with a three-year compound annual growth rate of 39.7% (FY2022 to FY2025).
- By year, Operating Expenses came in at $2.79 billion in FY2024 (+74.1%), $1.6 billion in FY2023 (+4.0%) and $1.54 billion in FY2022.
- Five-year quarterly Operating Expenses spans a low of $371 million in Q3 2023 and a high of $1.24 billion in Q2 2025.
- Year over year, Operating Expenses gained in five of the last eight quarters, with growth averaging 84.3%.
- The high point for year-over-year Operating Expenses in five years was Q2 2025 (growth of 219.5%); the low point was Q2 2026 (a decline of 12.4%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $1.02 billion (Q1 2026), $945 million (Q4 2025) and $1.03 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Smurfit Westrock | 23.14 Bn | 20.07 Bn | 1.40 Bn | 1.09 Bn |
| 2 | International Paper | 20.80 Bn | 16.70 Bn | 1.66 Bn | 991.00 Mn |
| 3 | Packaging Corp Of America | 20.43 Bn | 17.97 Bn | 512.50 Mn | 179.30 Mn |
| 4 | Amcor | 19.35 Bn | 14.78 Bn | 1.34 Bn | 646.00 Mn |
| 5 | Ball | 14.84 Bn | 11.86 Bn | 697.00 Mn | 312.00 Mn |
| 6 | Crown Holdings | 11.46 Bn | 8.79 Bn | 748.00 Mn | 249.00 Mn |
| 7 | Sonoco Products | 4.83 Bn | 3.83 Bn | 392.38 Mn | 202.18 Mn |
| 8 | Silgan Holdings | 3.67 Bn | 1.41 Bn | 294.88 Mn | 144.94 Mn |
| 9 | Graphic Packaging Holding | 2.68 Bn | 1.91 Bn | 292.00 Mn | 186.00 Mn |
| 10 | Ardagh Metal Packaging | 2.59 Bn | 2.60 Bn | 238.00 Mn | -87.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.09 Bn |
| Mar 31, 2026 | 1.02 Bn |
| Dec 31, 2025 | 945.00 Mn |
| Sep 30, 2025 | 1.03 Bn |
| Jun 30, 2025 | 1.24 Bn |
| Mar 31, 2025 | 988.00 Mn |
| Dec 31, 2024 | 996.00 Mn |
| Sep 30, 2024 | 1.03 Bn |
| Jun 30, 2024 | 389.00 Mn |
| Mar 31, 2024 | 380.00 Mn |
| Dec 31, 2023 | 428.00 Mn |
| Sep 30, 2023 | 371.00 Mn |
API Access
Smurfit Westrock Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=SW&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "SW", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=SW&period=max&api_key=YOUR_API_KEY");
const data = await res.json();