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Smurfit Westrock vs Packaging Corp of America: SW and PKG compared
Smurfit Westrock is the larger company: $8.2B of revenue in its latest quarter (Q3 2026) against $2.6B for Packaging Corp of America (Q3 2026). Packaging Corp of America is growing faster (+12% against +2% a year earlier). Packaging Corp of America is more profitable, with an operating margin of 14.8% against 6.0%.
Where the money goes: SW and PKG
Smurfit Westrock (SW) · Q3 2026
Smurfit Westrock, Q3 2026: revenue $8.2B (+2% year over year), operating margin 6.0%, net earnings $219M, operating cash flow $874M. The chart follows the revenue to costs, profit and cash.
Packaging Corp of America (PKG) · Q3 2026
Packaging Corp of America, Q3 2026: revenue $2.6B (+12% year over year), operating margin 14.8%, net earnings $262M, operating cash flow $472M. The chart follows the revenue to costs, profit and cash.
| Smurfit Westrock (SW) | Packaging Corp of America (PKG) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $8.2B | $2.6B |
| Revenue growth, Y/Y | +2% | +12% |
| Gross margin | 17.6% | 23.2% |
| Operating margin | 6.0% | 14.8% |
| Net earnings | $219M | $262M |
| Net margin | 2.7% | 10.1% |
| Operating cash flow | $874M | $472M |
| Free cash flow | $360M | $224M |
| Market value | $23.5B | $22.1B |
| P/E | 50.0× | 30.4× |
| Analysts’ mean target | $54.23 | $269.22 |
Where the revenue comes from
Smurfit Westrock
- North America: $4.8B (58%)
- Europe, MEA and APAC: $2.8B (35%)
- LATAM: $587M (7%)
Packaging Corp of America
- Packaging: $2.4B (93%)
- Paper: $163M (6%)
- Corporate and Other: $24.5M (1%)
Questions
Which is bigger, Smurfit Westrock or Packaging Corp of America?
Smurfit Westrock is the larger company: $8.2B of revenue in its latest quarter (Q3 2026) against $2.6B for Packaging Corp of America (Q3 2026).
Is Smurfit Westrock or Packaging Corp of America growing faster?
Packaging Corp of America is growing faster (+12% against +2% a year earlier).
Which is more profitable, Smurfit Westrock or Packaging Corp of America?
Packaging Corp of America is more profitable, with an operating margin of 14.8% against 6.0%.
More: Smurfit Westrock earnings · how Smurfit Westrock makes money · Packaging Corp of America earnings · how Packaging Corp of America makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 4, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.