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West Fraser Timber (WFG) USD

At a glance: strengths & risks
✓Net cash balance sheet✗Revenue declining (-6% y/y, Q2 2026)✗Loss-making last FY✗Margins compressing (6%→4%, Q2 2026)

Sector: Lumber & wood products

COMM_WFG

Price chart

69.38 USDDay -1.99%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
69.38 USD · -1.99%
Market cap
5.4 bn USD

Growth

Δ revenue y/y
-6.4%
Δ EBITDA y/y
-40.0%

Multiples

P/E (LTM)
—
P/B (FY)
0.9x
P/E (ann.)
<0
EV/EBITDA (LTM)
—

Cash return

Dividend yield
1.4%
FCF yield (LTM)
-11.5%

Value creation

fundamental value/yr, % of market cap
Value created / year
+59.7%
↓ details

Liquidity

Daily turnover (listing)
13.1 mln USD

Shares: yahoo_fundamentals_timeseries/WFG

Financial results

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-06-30Q2 2026 (3M)OK1434.0
y/y -6.4%
-79.0
y/y —
133.0
y/y -0.7%
54.0
y/y -40.0%
-61.0
y/y —
192.0-43.07437.0
y/y -15.2%
5566.0
y/y -19.3%
-4.4%281.0Yahoo Finance
2026-03-31Q1 2026 (3M)OK1334.0
y/y —
-210.0
y/y —
138.0
y/y —
-72.0
y/y —
-188.0
y/y —
-170.0-91.07670.0
y/y —
5638.0
y/y —
-13.1%422.0Yahoo Finance
2025-12-31Q4 2025 (3M)PARTIAL1165.0
y/y —
-913.0
y/y —
143.0
y/y —
-770.0
y/y —
-751.0
y/y —
-172.0-130.07620.0
y/y -13.0%
5849.0
y/y -15.9%
-15.0%≈ -246.0Yahoo Finance
2025-09-30Q3 2025 (3M)OK1307.0
y/y —
-275.0
y/y —
133.0
y/y —
-142.0
y/y —
-204.0
y/y —
58.0-81.08586.0
y/y —
6622.0
y/y —
-4.0%-246.0Yahoo Finance
2025-06-30Q2 2025 (3M)OK1532.0
y/y —
-44.0
y/y —
134.0
y/y —
90.0
y/y —
-24.0
y/y —
285.0-70.08767.0
y/y —
6897.0
y/y —
-1.4%-346.0Yahoo Finance
2024-12-31FY 2024 (12M)PARTIAL6174.0
y/y -4.3%
7.0
y/y —
550.0
y/y 1.9%
557.0
y/y 117.6%
-5.0
y/y —
661.0—8760.0
y/y -7.0%
6954.0
y/y -3.7%
-0.1%—Yahoo Finance
2023-12-31FY 2023 (12M)PARTIAL6454.0
y/y —
-284.0
y/y —
540.0
y/y —
256.0
y/y —
-167.0
y/y —
525.0—9415.0
y/y —
7223.0
y/y —
——Yahoo Finance

Net debt structure (leases included, IFRS 16) 2026-06-30

Short-term debt (incl. ST leases)55
Long-term debt (incl. LT leases)300
− Cash & equivalents74
Net debt281

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

-2 00002 0004 0006 0002023 FY2024 FY2025 q22025 q32025 q42026 q12026 q2

Year-over-year change

-50%0%50%100%2023 FY2024 FY2025 q22025 q32025 q42026 q12026 q2

Cash flow

FCF ($ mln)

-300-200-10001002002023 FY2024 FY2025 H12025 q32025 q42026 q12026 q2

Net debt / cash ($ mln)

-400-20002004002023 FY2024 FY2025 q22025 q32025 q42026 q12026 q2

Operating statistics

Production indicators — supplementary, not part of the financial statements

PeriodSPF lumber production
MMfbm		SPF lumber shipments
MMfbm		SYP lumber production
MMfbm		SYP lumber shipments
MMfbm		OSB production
MMsf 3/8" basis		Lumber production
MMfbm
Q2 2026-06625654635634——
FY 2025-12————6 351
−4.7%		5 008
−6.3%
FY 2024-12————6 661
+4.3%		5 344
−3.7%
FY 2023-12————6 3895 548

Company reports (PLR coverage review 2026-10-01), extracted with DeepSeek and every number checked against the document text: https://www.sec.gov/Archives/edgar/data/1402388/000140238826000008/exhibit991-q4x25newsrelease.htm; https://www.sec.gov/Archives/edgar/data/1402388/000140238826000009/exhibit991-q42025aif.htm; https://www.sec.gov/Archives/edgar/data/1402388/000140238826000030/exhibit992-q2x26interimmda.htm; https://www.sec.gov/Archives/edgar/data/1402388/000140238826000030/exhibit995-q2x26newsrelease.htm

Key-commodity price — Lumber

Current 538spot vs LTM -11%

Commodity-player potential

Target equity value is NEGATIVE: net debt exceeds target EV — over-levered at conservative EBITDA, so the upside is negative.

Upside: -306.1%

Main driver: Lumber -11% vs LTM; revenue ×0.92 vs costs ×1.03; EBITDA -903→-1 461; at 7.4× EV/EBITDA → -306%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
Lumber (rev)+75%537.50601.51604.75-11%+1%
Lumber (input cost) (cost)-10%537.50601.51604.75-11%+1%
Northern bleached softwood kraft (pulp benchmark) (rev)+8%1 302.131 252.961 340.80+4%+7%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue5 240
LTM EBITDA-903
LTM cash costs (revenue − EBITDA)6 143
2 · Revenue projection
Revenue multiplier — spot×0.923 (-8%)
= Spot revenue4 838
Revenue multiplier — 3y price×1.010 (+1%)
= 3-year-price revenue5 291
3 · Costs projection
Cost multiplier — spot×1.025 (+3%)
= Spot cash costs6 299
Cost multiplier — 3y price×1.037 (+4%)
= 3-year-price cash costs6 367
4 · EBITDA projection (revenue − costs)
= Spot EBITDA-1 461
= 3-year-price EBITDA-1 077
Conservative EBITDA = min(spot, avg)-1 461
5 · Valuation → target market cap
Historical EV/projected-EBITDA (75th pct)7.4x
Target EV = EV/EBITDA × conservative EBITDA-10 793
Net debt281
Target market cap = EV − net debt-11 195
Current market cap5 432

Upside = target market cap ÷ current − 1 = -306.1%

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2023 FY6 4546 089+6.0%337-322—
2024 FY6 1746 675-7.5%614313+96.3%
2025 FY5 4626 476-15.7%-608677-189.7%

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 8.2x · target 75th pct (3y) 7.4x · LTM avg 18.4x

EV/EBITDA (LTM)EV/EBITDA (projected)target 75th pct (projected, 3y)

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-09-290.32 USDEx-dividend: 0.32 USD per sharePaidYahoo Finance (ex-div)
2026-06-250.32 USDEx-dividend: 0.32 USD per sharePaidYahoo Finance (ex-div)
2026-03-130.32 USDEx-dividend: 0.32 USD per sharePaidYahoo Finance (ex-div)
2025-06-260.32 USDEx-dividend: 0.32 USD per sharePaidYahoo Finance (ex-div)
2025-03-140.32 USDEx-dividend: 0.32 USD per sharePaidYahoo Finance (ex-div)
2024-12-270.32 USDEx-dividend: 0.32 USD per sharePaidYahoo Finance (ex-div)
2024-09-260.32 USDEx-dividend: 0.32 USD per sharePaidYahoo Finance (ex-div)
2024-06-260.32 USDEx-dividend: 0.32 USD per sharePaidYahoo Finance (ex-div)
2024-03-140.3 USDEx-dividend: 0.3 USD per sharePaidYahoo Finance (ex-div)
2023-12-280.3 USDEx-dividend: 0.3 USD per sharePaidYahoo Finance (ex-div)
2023-09-260.3 USDEx-dividend: 0.3 USD per sharePaidYahoo Finance (ex-div)
2023-06-200.3 USDEx-dividend: 0.3 USD per sharePaidYahoo Finance (ex-div)
2023-03-160.3 USDEx-dividend: 0.3 USD per sharePaidYahoo Finance (ex-div)
2022-12-290.3 USDEx-dividend: 0.3 USD per sharePaidYahoo Finance (ex-div)
2022-09-210.3 USDEx-dividend: 0.3 USD per sharePaidYahoo Finance (ex-div)
2022-06-210.3 USDEx-dividend: 0.3 USD per sharePaidYahoo Finance (ex-div)
2022-03-170.25 USDEx-dividend: 0.25 USD per sharePaidYahoo Finance (ex-div)
2021-12-230.2 USDEx-dividend: 0.2 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of West Fraser Timber (WFG) — from primary filings.

Frequently asked questions

What is West Fraser Timber (WFG)'s P/B ratio?
West Fraser Timber (WFG) trades at a P/B of 0.9x.
What is West Fraser Timber (WFG)'s dividend yield?
West Fraser Timber (WFG)'s trailing 12-month dividend yield is 1.4%.
What is West Fraser Timber (WFG)'s return on equity (ROE)?
West Fraser Timber (WFG)'s ROE is -4.4%.
What is West Fraser Timber (WFG)'s market capitalization?
West Fraser Timber (WFG)'s market cap is 5.4 bn USD.

See also: The Cheapest Stocks in the World (2026): What Value Investing Says About Buying Cheap · global valuation map