Westrock's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Westrock (WRK) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Westrock vs Its Competitors
- TTM: Trailing 12-month revenue of 19,455M vs 20,558M combined for its competitors (48.6% combined share).
- Trending: Latest-quarter revenue run-rate is decelerating (-2.8% annualized vs trailing 12 months), vs decelerating (-5.1%) for its tracked peer group.
- Growth: Westrock generated -10.5% revenue growth year over year in Q2 2024, vs -4.6% for its competitors combined.
- Profitability: Its 0.4% net margin compares with 6.7% for the peer group.
- Peer revenue share: Westrock accounted for 49.2% of combined revenue among its tracked peer group, down from 50.8% a year earlier.
- Peer differentiation: Revenue per employee of $0.47M compares with $0.43M for the peer group (1.1x).
- Structure: Westrock operates in the following segments: Corrugated Packaging, Consumer Packaging, Global Paper, Distribution Segment; and reports the following subsidiaries: WRKCo Inc..
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
WRK Sales vs. its Competitors, Q2 2024
Westrock reported revenue contraction of 10.45 % year on year in Q2 2024, below its competitors' combined revenue change of -4.56 %.
With a net margin of 0.35 %, Westrock reported lower profitability than its competitors (6.68 %).
Westrock generated 49.22 % of the combined sales of its peer group, down from 50.81 % a year earlier.
API endpoints for this dataset
Westrock vs. its Competitors, Q2 2024
Revenue growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Westrock reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Westrock and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Westrock Company | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (3) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (6) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Westrock's competitor groups requires a Commercial License.
For context: the Containers & Packaging industry grew revenue 4.3% year over year, combined, vs -10.5% for Westrock. Westrock's share of combined industry revenue moved from 14.04% to 12.06%, a loss of 1.98 percentage points.
Westrock's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Westrock Company | Yes | No | No | No |
| Competitors combined (5) | ||||
| High-Confidence Competitors (3) | ||||
| Similar Growth & Profitability (8) | 50.00 % (4 of 8) | 50.00 % (4 of 8) | 25.00 % (2 of 8) | 0.00 % (0 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
WRK Stock Performance relative to its Competitors
WRK Stock Performance relative to High-Confidence Competitors
WRK Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Cpi Card Group Inc | 282.9% | Outperformed |
| 2 | Packaging Corp Of America | 282.9% | Outperformed |
| 3 | Matthews International Corp | 282.9% | Outperformed |
| 4 | Farmer Brothers Co | 282.9% | Outperformed |
| 5 | Graphic Packaging Holding Co | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Westrock's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Westrock's Comment on Competition and Industry Peers
The industries we operate in are highly competitive, and no single company dominates any of those industries. Our paperboard and containerboard operations compete with integrated and non-integrated national and regional companies operating primarily in North America, and to a limited extent, manufacturers outside of North America. Our competitors include large and small, vertically integrated companies and numerous smaller non-integrated companies. In the corrugated packaging and folding and beverage carton markets, we compete with a significant number of national, regional and local packaging suppliers in North America and abroad. Our dispensing operations compete globally with manufacturers for global end markets. In the solid fiber interior packaging, promotional point-of-purchase display and converted paperboard products markets, we primarily compete with a smaller number of national, regional and local companies offering highly specialized products. Our recycled fiber brokerage and collection operations compete with various other companies for the procurement and supply of recovered paper, including brokers and companies that export recovered paper to international markets. The Land and Development segment competes in the real estate sales and development market in the Charleston, SC region.
Because all of our businesses operate in highly competitive industry segments, we regularly bid for sales opportunities to customers for new business or for renewal of existing business. Our packaging products compete with packaging made from other materials. The primary competitive factors we face include price, design, product innovation, quality and service, with varying emphasis on these factors depending on the product line and customer preferences. We believe that we compete effectively with respect to each of these factors and we evaluate our performance with annual customer surveys, among other means.
The businesses we operate in have undergone consolidation. Within the packaging
products industry, larger customers, with an expanded geographic presence, have
tended to seek suppliers who can, because of their broad geographic presence,
efficiently and economically supply all or a range of their packaging needs.
In addition, our customers continue to demand higher quality products meeting
stricter quality control requirements.
Publicly Traded Peers of Westrock Company
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Westrock Company |
13,356.54 | 19,454.70 |
 Packaging Corp Of America |
22,642.49 | 9,824.00 |
 Graphic Packaging Holding Co |
3,219.48 | 8,639.00 |
 Matthews International Corp |
618.70 | 1,108.24 |
 Cpi Card Group Inc |
280.28 | 649.59 |
 Farmer Brothers Co |
27.74 | 337.46 |
| SUBTOTAL | 40,145.23 | 40,012.98 |
Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Westrock Company versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Westrock's Competitors Named by the Company
Competitive relationships identified from Westrock reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Graphic Packaging Holding Co | Company report | 85% |
| Amcor Plc | Company report | 85% |
| Packaging Corp Of America | Company report | 85% |
| Farmer Brothers Co | Company report | 85% |
| Cpi Card Group Inc | Company report | 85% |
Company report basis, confidence, active dates and source counts for Westrock's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Westrock's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Westrock Company | Corrugated Packaging 50.75 % |
| Packaging Corp Of America | Packaging 92.83 % |
| Graphic Packaging Holding Co | Americas Paperboard Packaging 67.34 % |
| Matthews International Corp | Memorialization 84.57 % |
| Cpi Card Group Inc | Secure Card Solutions 70.66 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Westrock's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Westrock Company | 13,357 | 474,505 | 7,500 |
| Packaging Corp Of America | 22,642 | 584,762 | 43,220 |
| Graphic Packaging Holding Co | 3,219 | 375,609 | 3,217 |
| Matthews International Corp | 619 | 201,498 | -2,864 |
| Cpi Card Group Inc | 280 | 382,109 | 8,091 |
| Farmer Brothers Co | 28 | 259,582 | -14,319 |
| PEERS TOTAL | 26,789 | 425,637 | 16,138 |
Westrock's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Westrock Company | US 73.37 % |
| Matthews International Corp | North America 86.96 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Westrock's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Containers & Packaging industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (18 companies). See the full Containers & Packaging industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 17.67 % | 15.06 % (avg) | +2.6 pp |
| Operating Margin | 2.67 % | industry median | -5.8 pp |
| EBITDA Margin | 10.41 % | 8.81 % (avg) | +1.6 pp |
| Capital Intensity (Capex / Revenue) | 5.79 % | 4.15 % (avg) | +1.6 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Westrock's Valuation vs Competitive Position
Valuation multiples vs the Containers & Packaging industry average (18 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Containers & Packaging industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 36.8x | 35.0x | +1.8x |
| EV / EBITDA | 9.7x | 12.7x | -3.0x |
| P/B | 1.1x | 2.0x | -0.9x |
| Return on Equity | 3.05 % | industry aggregate | -18.06 % |
| Return on Invested Capital | 1.82 % | 1.88 % (avg) | -0.06 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Westrock's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|
| Revenue Growth | 9.82 % | 9.22 % | 9.97 % | -4.51 % | 9.91 % | 10.00 % | -5.75 % |
| Operating Margin | 5.44 % | 8.61 % | 7.99 % | -1.57 % | 6.83 % | 5.77 % | -7.98 % |
| Return on Invested Capital | 2.58 % | 4.10 % | 3.76 % | -0.71 % | 3.46 % | 3.51 % | -5.57 % |
| P/E | 9.3x | 12.2x | 12.3x | - | 14.5x | 11.2x | - |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Westrock's Strategic Group Map
Westrock is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Westrock's trailing-12-month revenue growth of -7.9% and operating margin of 2.7% compares with an average of 0.3% growth and 1.6% margin across its 8 closest peers by combined growth, margin and ROIC -- Westrock sits below that peer average on growth and above it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Westrock's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Barriers to Entry | High (capital intensive) | Capital intensity (capex / revenue) of 5.79 % vs industry average 4.15 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Westrock's dedicated Suppliers and Customers pages, not here.
Westrock's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Westrock falls in the Low attractiveness / Low strength cell: Harvest / Divest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Westrock's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
No rule matched.
Weaknesses
- Operating margin 5.8 points below the industry median.
- Return on equity 18.1 points below the industry aggregate.
- Latest-quarter revenue run-rate is decelerating (-2.8% annualized vs trailing 12 months).
Opportunities
No rule matched.
Threats
- Losing revenue share to the broader industry (-2.0 points over the past year).
- Tracked peer group's revenue run-rate is broadly decelerating (-5.1% annualized).
- High capital intensity requires continuous reinvestment just to keep pace with the industry.
Methodology: see Methodology: SWOT Analysis.
Westrock's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Westrock Company | 0.09 | 1.45 | 0.88 |
| Packaging Corp Of America | 0.42 | 3.00 | 0.85 |
| Graphic Packaging Holding Co | 0.11 | 1.31 | 1.81 |
| Matthews International Corp | 0.11 | 1.58 | 1.60 |
| Cpi Card Group Inc | 0.24 | 2.40 | - |
| Farmer Brothers Co | 0.07 | 1.25 | 0.49 |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Westrock's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Westrock Company | Q1 2024 | -10.4 % | - |
| Packaging Corp Of America | Q3 2026 | +12.5 % | +15.6 % |
| Graphic Packaging Holding Co | Q3 2026 | +0.1 % | -84.5 % |
| Matthews International Corp | Q2 2026 | -29.6 % | - |
| Cpi Card Group Inc | Q2 2026 | +50.5 % | +293.8 % |
| Farmer Brothers Co | Q4 2025 | -1.7 % | - |
| PEERS TOTAL | -3.1 % | - |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Westrock's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Westrock Company | Q1 2024 | -9.4 % | +7.0 % |
| Packaging Corp Of America | Q3 2026 | +10.4 % | -97.9 % |
| Graphic Packaging Holding Co | Q3 2026 | +7.3 % | -76.0 % |
| Matthews International Corp | Q2 2026 | -30.6 % | -50.4 % |
| Cpi Card Group Inc | Q2 2026 | +70.7 % | -32.2 % |
| Farmer Brothers Co | Q4 2025 | +9.8 % | -9.9 % |
Westrock's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Westrock Company | 1.13% | 1.67% | 3.05% |
| Packaging Corp Of America | 6.64% | 7.58% | 15.57% |
| Graphic Packaging Holding Co | 0.64% | 0.78% | 2.27% |
| Matthews International Corp | - | - | - |
| Cpi Card Group Inc | 3.47% | 2.30% | - |
| Farmer Brothers Co | - | - | - |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Westrock's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Westrock Company | 43.42 | 0.69 |
| Packaging Corp Of America | 25.72 | 2.30 |
| Graphic Packaging Holding Co | 43.36 | 0.37 |
| Matthews International Corp | - | 0.56 |
| Cpi Card Group Inc | 20.27 | 0.43 |
| Farmer Brothers Co | - | 0.08 |
| PEERS AVERAGE | 36.93 | 1.00 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.