Smurfit WestRock plc — Earnings Quality Grade F
SW · Consumer Cyclical
Major red flags
Screening Summary
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 50 days, change -21 days YoY
AR growth 3.7% vs revenue growth 47.7%
Revenue 47.7%, CFFO 128.7%. Cash follows revenue
Expense Quality
Inventory 4.0% vs COGS 48.6%. Normal
CapEx growth 49.5% vs revenue 47.7%. Normal
SG&A/Gross Profit = 63.2%. Normal
Gross margin 19.4%, change -0.5pp. Stable
Cash Flow Quality
CFFO/NI = 4.85. Profits backed by cash
FCF $1.2B, FCF/NI = 1.72
Accruals ratio = -6.0%. Low accruals
Cash $0.9B covers only 6% of debt $13.8B
Balance Sheet Health
Goodwill+Intangibles $8.3B = 45% of equity
Debt/EBITDA = 3.2x. Healthy
Other assets 5.6% vs revenue 47.7%. Normal
Write-offs surged 925% YoY, = 35% of NI. Possible big bath
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change 4% YoY. Normal
Manipulation Score
M-Score = -2.58 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-10