WEST FRASER TIMBER CO., LTD
WFG · Sawmills & Planting Mills, General · EDGAR filings ↗
Grade
D49Cyclical sawmill operator in a loss year with deeply negative returns and cash burn, offset by a clean balance sheet.
Strengths
- Very low leverage (D/E 0.06, 25th pct) and adequate current ratio 2.13
- Cash buffer at 59th pct provides downturn cushion
Risks
- Loss year: net margin -17%, ROE -16%, operating margin -22% (all ~30th pct)
- Negative FCF -$315M (4th pct), interest coverage -62 (12th pct)
- Revenue -12% (14th pct); the 186x net-income-growth figure is a base-effect artifact
Notable findings
- No interest coverageInterest coverage -62.47 (cannot cover interest)
- Net lossNet loss (net margin -17.2%)
- Cash burnNegative free cash flow (-315.0M)
- Revenue declineRevenue -11.5% YoY
Key metrics
Gross margin
23.4%
Operating margin
-21.7%
Net margin
-17.2%
Return on equity
-16.0%
Return on assets
-12.3%
ROIC
-15.1%
Revenue growth (QoQ)
-11.5%
Debt / equity
0.1×
Interest coverage
-62.5×
Current ratio
2.1×
Free cash flow
-$315M
Tangible book value
$4.4B
Cash & investments
$202M
Cash runway
3q
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 40-F | 2026-02-11 | 2025-12-31 | 0001402388-26-000009 ↗ |
| 40-F | 2025-02-12 | 2024-12-31 | 0001628280-25-005183 ↗ |
| 40-F | 2024-02-14 | 2023-12-31 | 0001628280-24-004843 ↗ |
| 40-F | 2023-02-14 | 2022-12-31 | 0001628280-23-003555 ↗ |
| 40-F | 2022-02-15 | 2021-12-31 | 0001402388-22-000010 ↗ |