Smurfit Westrock plc debt and dilution17

Borrowings, liquidity, share count and stock-based dilution.

Total debt

USD millions

$14,164M

Cash & equivalents

USD millions

$677M

Net debt

USD millions

$13,487M

Debt / equity

0.78×

Debt / assets

31.34%

Net debt / EBITDA

× · TTM

3.2×

Debt / FCF

× · TTM

13.95×

Interest coverage

× · TTM

1.75×

Current ratio

1.45×

Diluted shares

Million shares

526M shares

Basic shares

Million shares

524M shares

Share count growth

0.38%

Share repurchases

USD millions

—

Quarterly data

Smurfit Westrock plc capital history. Each metric has its own unit. A dash means inputs are missing or the calculation is undefined.
Fiscal period	Ended	Total debtUSD millions	Cash & equivalentsUSD millions	Net debtUSD millions	Debt / equity×	Debt / assets%	Net debt / EBITDA×	Debt / FCF×	Interest coverage×	Current ratio×	Diluted sharesMillion shares	Basic sharesMillion shares	Share count growth%	Share repurchasesUSD millions
FY 2026 Q2	Jun 30, 2026	14,164	677	13,487	0.78×	31.34%	3.2×	13.95×	1.75×	1.45×	526	524	0.38%	—
FY 2026 Q1	Mar 31, 2026	14,255	674	13,581	0.79×	31.56%	3.32×	13.95×	1.68×	1.44×	526	523	0.38%	—
FY 2025 Q4	Dec 31, 2025	13,773	892	12,881	0.75×	30.5%	3.02×	11.48×	2.05×	1.48×	528.97	524.97	1.53%	0
FY 2025 Q3	Sep 30, 2025	14,111	851	13,260	0.76×	30.97%	3.16×	17.64×	2.13×	1.48×	526	522	2.76%	0
FY 2025 Q2	Jun 30, 2025	14,363	778	13,585	0.78×	31.4%	3.74×	30.76×	1.54×	1.45×	522	522	10,868,107.37%	0
FY 2025 Q1	Mar 31, 2025	14,219	797	13,422	0.79×	31.85%	4.23×	—	1.83×	1.43×	526	521	—	0
FY 2024 Q4	Dec 31, 2024	13,595	855	12,740	0.78×	31.07%	5.16×	799.71×	1.92×	1.37×	523.02	517.04	—	0
FY 2024 Q3	Sep 30, 2024	13,919	—	—	0.77×	30.91%	—	—	—	1.48×	508	508	—	0
FY 2024 Q2	Jun 30, 2024	—	0.03	—	—	—	—	—	—	—	0	0	—	0

Sources and calculations

Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.

Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.

The SBC option subtracts reported share-based compensation from FCF as an economic-cost scenario. Missing SBC never becomes zero.

Debt uses reported borrowings, with overlapping concepts treated as alternatives. Cash excludes restricted cash and short-term investments. Dilution compares split-normalized weighted average basic shares year over year. Share buyback spending does not by itself measure shares retired.

Market prices: Yahoo Finance · SW, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.

Total debt: Reported borrowing balances. Uses an aggregate including current maturities, or current plus noncurrent debt. Adds separately disclosed short-term borrowings, with commercial paper as a fallback, unless the selected current/aggregate concept already includes them. Finance leases are included when part of the reported debt concept; undisclosed components are not estimated.
Cash & equivalents: Unrestricted reported cash and cash equivalents. Excludes short-term investments and restricted cash.
Net debt: Total debt − cash and equivalents. Negative means net cash.
Debt / equity: Total debt / equity including noncontrolling interests. Nonpositive equity yields unavailable.
Debt / assets: Total debt / total assets × 100.
Net debt / EBITDA: Period-end net debt / (TTM operating income + TTM depreciation and amortization). Negative net debt is retained.
Debt / FCF: Period-end reported debt / positive TTM free cash flow. Reflects the selected reported capex scope and SBC option.
Interest coverage: TTM operating income / positive TTM interest expense. IFRS finance costs can include more than interest.
Current ratio: Current assets / positive current liabilities.
Diluted shares: Reported weighted average diluted shares, normalized for subsequent recorded stock splits. Fourth-quarter counts use a day-weighted annual/nine-month reconstruction where possible.
Basic shares: Reported weighted average basic shares, normalized for subsequent recorded stock splits.
Share count growth: Year-over-year change in split-normalized weighted average basic shares × 100. A dilution proxy; negative means a lower share count.
Share repurchases: Reported cash payments for repurchase of common shares. This is spending, not a buyback yield.