West Fraser Timber (WFG) | Financial Analysis & Statements
West Fraser Timber Co. Ltd. Mid-cap Basic Materials
TL;DR: Financial Overview - Revenue, Profits & Key Metrics
Latest Quarterly: Dec 2025Income Metrics
Revenue
1.2B
Gross Profit
215.0M
18.45%
Operating Income
-218.0M
-18.71%
Net Income
-751.0M
-64.46%
Balance Sheet Metrics
Total Assets
7.6B
Total Liabilities
1.8B
Shareholders Equity
5.8B
Debt to Equity
0.30
Cash Flow Metrics
Operating Cash Flow
-488.0M
Free Cash Flow
-310.0M
Revenue & Profitability Trend
Quarter Income Flow
Dec 31, 2025
Annual Income Flow
2025
West Fraser Timber Income Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 5.5B | 6.2B | 6.5B | 9.7B | 10.5B |
| Cost of Goods Sold | 4.2B | 4.3B | 4.7B | 5.1B | 4.6B |
| Gross Profit | 1.3B | 1.8B | 1.8B | 4.6B | 5.9B |
| Gross Margin % | 23.4% | 29.8% | 27.4% | 47.0% | 55.8% |
| Operating Expenses | |||||
| Research & Development | - | - | - | - | - |
| Selling, General & Administrative | 1.0B | 1.1B | 1.2B | 1.3B | 1.2B |
| Other Operating Expenses | - | - | - | - | - |
| Total Operating Expenses | 1.0B | 1.1B | 1.2B | 1.3B | 1.2B |
| Operating Income | -475.0M | 109.0M | -6.0M | 2.6B | 3.9B |
| Operating Margin % | -8.7% | 1.8% | -0.1% | 27.0% | 37.5% |
| Non-Operating Items | |||||
| Interest Income | 24.0M | 63.0M | 74.0M | 27.0M | 11.0M |
| Interest Expense | 19.0M | 26.0M | 24.0M | 24.0M | 48.0M |
| Other Non-Operating Income | -696.0M | -105.0M | -274.0M | -23.0M | -2.0M |
| Pre-tax Income | -1.2B | 38.0M | -228.0M | 2.6B | 3.9B |
| Income Tax | -233.0M | 43.0M | -61.0M | 618.0M | 951.0M |
| Effective Tax Rate % | 0.0% | 113.2% | 0.0% | 23.8% | 24.4% |
| Net Income | -937.0M | -5.0M | -167.0M | 2.0B | 2.9B |
| Net Margin % | -17.2% | -0.1% | -2.6% | 20.4% | 28.0% |
| Key Metrics | |||||
| EBITDA | 97.0M | 723.0M | 612.0M | 3.2B | 4.5B |
| EPS (Basic) | $-11.87 | $-0.06 | $-2.01 | $21.06 | $27.03 |
| EPS (Diluted) | $-12.08 | $-0.07 | $-2.01 | $20.86 | $27.03 |
| Basic Shares Outstanding | 78977000 | 80859000 | 83199000 | 93760000 | 109021000 |
| Diluted Shares Outstanding | 78977000 | 80859000 | 83199000 | 93760000 | 109021000 |
Income Statement Trend
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West Fraser Timber Balance Sheet From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Assets | |||||
| Current Assets | |||||
| Cash & Equivalents | 202.0M | 641.0M | 900.0M | 1.2B | 1.6B |
| Short-term Investments | - | - | - | - | 721.0M |
| Accounts Receivable | 186.0M | 239.0M | 250.0M | 286.0M | 441.0M |
| Inventory | 828.0M | 844.0M | 851.0M | 1.0B | 1.1B |
| Other Current Assets | - | - | - | - | - |
| Total Current Assets | 1.4B | 1.8B | 2.4B | 2.7B | 3.2B |
| Non-Current Assets | |||||
| Property, Plant & Equipment | 98.0M | 92.0M | 95.0M | 65.0M | 62.0M |
| Goodwill | 3.5B | 4.4B | 4.6B | 4.7B | 4.8B |
| Intangible Assets | 590.0M | 660.0M | 735.0M | 765.0M | 833.0M |
| Long-term Investments | 24.0M | 12.0M | 18.0M | 12.0M | 0 |
| Other Non-Current Assets | 503.0M | 428.0M | 395.0M | 389.0M | 281.0M |
| Total Non-Current Assets | 6.2B | 6.9B | 7.0B | 7.2B | 7.2B |
| Total Assets | 7.6B | 8.8B | 9.4B | 10.0B | 10.4B |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | 398.0M | 401.0M | 417.0M | 430.0M | 411.0M |
| Short-term Debt | 9.0M | 210.0M | 313.0M | 11.0M | 11.0M |
| Current Portion of Long-term Debt | - | - | - | - | - |
| Other Current Liabilities | 5.0M | 3.0M | 63.0M | - | - |
| Total Current Liabilities | 651.0M | 934.0M | 1.0B | 792.0M | 1.2B |
| Non-Current Liabilities | |||||
| Long-term Debt | 324.0M | 19.0M | 225.0M | 525.0M | 517.0M |
| Deferred Tax Liabilities | 397.0M | 609.0M | 683.0M | 795.0M | 712.0M |
| Other Non-Current Liabilities | 197.0M | 68.0M | 47.0M | 18.0M | 20.0M |
| Total Non-Current Liabilities | 1.1B | 872.0M | 1.1B | 1.6B | 1.6B |
| Total Liabilities | 1.8B | 1.8B | 2.2B | 2.4B | 2.8B |
| Equity | |||||
| Common Stock | 2.5B | 2.5B | 2.6B | 2.7B | 3.4B |
| Retained Earnings | 3.6B | 4.7B | 4.9B | 5.3B | 4.5B |
| Treasury Stock | - | - | - | - | - |
| Other Equity | - | - | - | - | - |
| Total Shareholders Equity | 5.8B | 7.0B | 7.2B | 7.6B | 7.7B |
| Key Metrics | |||||
| Total Debt | 333.0M | 229.0M | 538.0M | 536.0M | 528.0M |
| Working Capital | 736.0M | 903.0M | 1.3B | 2.0B | 2.0B |
Balance Sheet Composition
West Fraser Timber Cash Flow Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | -937.0M | -5.0M | -167.0M | 2.0B | 2.9B |
| Depreciation & Amortization | 544.0M | 550.0M | 541.0M | 589.0M | 584.0M |
| Stock-Based Compensation | - | - | - | - | - |
| Working Capital Changes | 58.0M | 16.0M | 138.0M | 160.0M | -134.0M |
| Operating Cash Flow | -264.0M | 538.0M | 329.0M | 3.2B | 4.3B |
| Investing Activities | |||||
| Capital Expenditures | -411.0M | -487.0M | -477.0M | -477.0M | -635.0M |
| Acquisitions | 0 | 124.0M | -100.0M | 0 | 340.0M |
| Investment Purchases | - | - | - | - | - |
| Investment Sales | - | - | - | - | - |
| Investing Cash Flow | -404.0M | -361.0M | -577.0M | -476.0M | -288.0M |
| Financing Activities | |||||
| Share Repurchases | -129.0M | -140.0M | -129.0M | -2.0B | -1.3B |
| Dividends Paid | -101.0M | -101.0M | -100.0M | -99.0M | -75.0M |
| Debt Issuance | 100.0M | - | - | - | - |
| Debt Repayment | -15.0M | -315.0M | -15.0M | -14.0M | -676.0M |
| Financing Cash Flow | -146.0M | -555.0M | -244.0M | -2.1B | -2.1B |
| Free Cash Flow | -315.0M | 174.0M | 48.0M | 1.7B | 2.9B |
| Net Change in Cash | -814.0M | -378.0M | -492.0M | 589.0M | 1.9B |
Cash Flow Trend
West Fraser Timber Key Financial Ratios
Valuation Ratios
P/E Ratio (TTM)
55.92
Forward P/E
28.29
Price to Book
0.89
Price to Sales
0.95
PEG Ratio
28.29
Profitability Ratios
Profit Margin
-17.16%
Operating Margin
-18.80%
Return on Equity
-14.64%
Return on Assets
-3.66%
Financial Health
Current Ratio
2.13
Debt to Equity
5.69
Beta
1.12
Per Share Data
EPS (TTM)
$-12.08
Book Value per Share
$74.70
Revenue per Share
$69.16
Peer Financial Comparison
| Company | Market Cap | P/E Ratio | P/B Ratio | ROE | Profit Margin | Debt/Equity |
|---|---|---|---|---|---|---|
| WFG | 5.2B | 55.92 | 0.89 | -14.64% | -17.16% | 5.69 |
| Simpson | 7.7B | 22.54 | 3.77 | 18.00% | 14.79% | 24.02 |
| UFP Industries | 5.5B | 19.30 | 1.78 | 9.34% | 4.66% | 11.55 |
| Boise Cascade | 3.0B | 23.84 | 1.47 | 6.29% | 2.07% | 25.17 |
| Enviva | 31.3M | - | - | -1,086.36% | -58.24% | -12.10 |
| Jewett-Cameron | 6.7M | 23.29 | 0.44 | -41.21% | -19.19% | 27.43 |
Financial data is updated regularly. All figures are in the company's reporting currency.





