West Fraser Timber Co., LTD key statistics and ratios

In fiscal 2025, West Fraser Timber Co., LTD had return on equity of -14.6%, an operating margin of -21.7%, debt equal to 6.3% of equity and a current ratio of 2.13. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

West Fraser Timber Co., LTD: financial ratios, annual
Fiscal year	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	41.5%	55.8%	47.0%	27.4%	29.8%	23.4%
Operating margin	19.0%	37.5%	26.4%	−4.4%	0.1%	−21.7%
Net margin	13.4%	28.0%	20.4%	−2.6%	−0.1%	−17.2%
Free-cash-flow margin	18.0%	27.7%	17.8%	0.7%	2.8%	−5.8%
Return on equity	23.7%	58.2%	25.9%	−2.3%	−0.1%	−14.6%
Return on assets	14.1%	40.3%	19.4%	−1.7%	−0.1%	−11.4%
Asset turnover	1.05	1.44	0.95	0.67	0.68	0.67
Current ratio	2.53	2.67	3.47	2.26	1.97	2.13
Debt to equity	23.0%	7.8%	7.8%	8.1%	3.8%	6.3%
Interest cover (operating income ÷ interest)	26.0x	82.2x	106.6x	n/m	0.3x	n/m
Effective tax rate	25.6%	24.4%	23.8%	—	—	—
Capital spending as % of revenue	4.1%	6.0%	4.9%	7.4%	7.9%	7.5%
Free cash flow ÷ net income	134.0%	99.0%	87.6%	—	—	—
Dividends ÷ net income	7.0%	2.5%	5.0%	—	—	—
Dividends and buybacks ÷ free cash flow	5.2%	47.8%	120.8%	477.1%	138.5%	—

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

5 of 7 checks passed · December 31, 2025

What it owns · $7.6bn

Short-term assets $1.4bnLonger-term assets $6.2bn

What it owes, and who funded it · $7.6bn

Short-term liabilities $651mLonger-term liabilities $1.1bnShareholders' equity $5.8bn

Short-term assets cover short-term liabilities $1.4bn of assets due within a year against $651m of liabilities due within a year.
Short-term assets cover long-term liabilities $1.4bn short-term assets against $1.1bn of longer-dated liabilities.
More cash than debt $202m of cash against $300m of debt.
Debt below 40% of shareholders' equity Debt is 5% of equity.
Debt burden no higher than five years ago Debt to equity moved from 20% to 5% over five years.
A year's operating cash flow covers at least 20% of debt $96m of operating cash flow against $300m of debt.
Operating profit covers interest at least five times over Operating income of −$1.2bn against $19m of interest.

From West Fraser Timber Co., LTD's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: BCC vs WFG LPX vs WFG NWGL vs WFG

More: Forest Products stocks compared, Materials sector, rankings of US companies

Figures from West Fraser Timber Co., LTD's SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to West Fraser Timber Co., LTD.