Income StatementBalance SheetCash FlowSegments
Smurfit Kappa Group logo

Smurfit Kappa Group Cash Flow Statement

Operating, investing, and financing cash movements

Smurfit Kappa Group generated $3.4B in operating cash flow over the trailing twelve months. After $2.3B in capital expenditures, free cash flow was $1.0B. Free cash flow increased 18.3% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$3.4BNet Cash From Investing (TTM)-$2.3BNet Cash From Financing (TTM)-$1.2BCapital Expenditures (TTM)$2.3BDepreciation And Amortization Cf (TTM)$2.7BNet Change In Cash (TTM)-$123.0M
Latest FilingQ1 2026
Report Date2026-05-01
Market Cap$19.6B
P/E Ratio51.55
ROE2.12%

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisitions, net of cash acquired$3.0M$4.0M$1.0M$0.0$1.0M$18.0M
Capital expenditures$569.0M$477.0M$522.0M$610.0M$583.0M$624.0M
Payment for (Proceeds from) Other Investing Activity-$4.0M-$5.0M-$3.0M-$7.0M-$2.0M-$3.0M
Proceeds From Life Insurance Policies$3.0M$0.0——$6.0M$3.0M
Proceeds from disposals of property, plant and equipment$46.0M$0.0$0.0$15.0M—$9.0M
Net cash from investing activities-$519.0M-$476.0M-$520.0M-$568.0M-$579.0M-$627.0M
Proceeds from sale of property, plant and equipment$46.0M$0.0$0.0$15.0M—$9.0M

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Change in accounts payable-$47.0M-$117.0M—-$107.0M—-$44.0M
Change in accounts receivable—$342.0M$92.0M-$185.0M-$413.0M$398.0M
Change in accrued liabilities—-$99.0M—$70.0M-$93.0M-$143.0M
Change in income taxes payable/receivable-$39.0M-$70.0M$79.0M-$1.0M-$79.0M-$48.0M
Change in inventories—$62.0M-$7.0M$4.0M-$94.0M-$101.0M
Change in other assets—$47.0M———$48.0M
Other working capital changes$14.0M$1.0M$5.0M$15.0M$11.0M-$3.0M
Deferred income taxes-$38.0M-$29.0M-$98.0M-$12.0M-$51.0M-$36.0M
Depreciation and amortization$592.0M$603.0M$613.0M$659.0M$675.0M$728.0M
Impairment charges$6.0M$0.0———$35.0M
Net cash from operating activities$781.0M$235.0M$829.0M$1.1B$1.2B$204.0M
Net income$146.0M$382.0M-$26.0M$245.0M$98.0M$63.0M
Asset write-downs$6.0M$0.0———$35.0M
Cash Surrender Value Expense Increase In Excess Of Premiums Paid—$5.0M———$4.0M
Increase (Decrease) in Income Taxes Payable, Net of Income Taxes Receivable-$39.0M-$70.0M$79.0M-$1.0M-$79.0M-$48.0M
Increase (Decrease) in Other Operating Assets—$47.0M———$48.0M
Pension and other postretirement funding more than cost-$25.0M-$23.0M-$36.0M-$24.0M-$28.0M-$27.0M
Stock-based compensation$52.0M$43.0M$36.0M$35.0M$25.0M$28.0M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net change in commercial paper$34.0M$246.0M-$264.0M-$227.0M-$146.0M$507.0M
Proceeds from issuance of debt$2.6B$295.0M$203.0M$12.0M$1.5B$48.0M
Repayments of debt—-$16.0M-$2.0M—-$2.0M$5.0M
Dividends paid$157.0M$225.0M$225.0M$225.0M$225.0M$237.0M
Finance Lease, Principal Payments$10.0M$16.0M$7.0M$6.0M$14.0M$14.0M
Payments Of Debt Issuance Costs$19.0M$5.0M$1.0M$2.0M$12.0M$3.0M
Proceeds from issuances of debt$2.6B$295.0M$203.0M$12.0M$1.5B$48.0M
Other, net$7.0M$1.0M$0.0$2.0M-$8.0M$1.0M
Proceeds from (repayments of) short-term borrowings, net$34.0M$246.0M-$264.0M-$227.0M-$146.0M$507.0M
Change in other borrowed funds—-$16.0M-$2.0M—-$2.0M$5.0M
Repayments of Debt$2.7B$65.0M$56.0M$25.0M$1.7B$29.0M
Finance lease prepayments$10.0M$16.0M$7.0M$6.0M$14.0M$14.0M
Payment of Deferred Purchase Consideration$7.0M$1.0M$0.0$2.0M-$8.0M$1.0M
Noncontrolling interest transactions and other$7.0M$1.0M$0.0$2.0M-$8.0M$1.0M
Net cash from financing activities—$151.0M-$355.0M-$470.0M-$624.0M$209.0M
Other financing activities$7.0M$1.0M$0.0$2.0M-$8.0M$1.0M
Payment of debt issuance costs$19.0M$5.0M$1.0M$2.0M$12.0M$3.0M
Payments for finance leases$10.0M$16.0M$7.0M$6.0M$14.0M$14.0M
Noncontrolling Interests Activity and Other$7.0M$1.0M$0.0$2.0M-$8.0M$1.0M
Proceeds from issuance of common stock—$0.0———$14.0M
Taxes paid for net share settlement$5.0M$64.0M$3.0M$1.0M$1.0M$83.0M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$212.0M-$242.0M$307.0M$523.0M$612.0M-$420.0M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effect of exchange rate changes on cash-$96.0M$32.0M$27.0M—$49.0M-$4.0M
Net increase (decrease) in cash-$96.0M-$58.0M-$19.0M$73.0M$41.0M-$218.0M