Weyerhaeuser key statistics and ratios
In fiscal 2025, Weyerhaeuser had return on equity of 3.4%, an operating margin of 10.6%, debt equal to 59.5% of equity and a current ratio of 1.29. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.
Financial ratios
| Fiscal year | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 8.0% | 18.9% | 17.6% | 16.6% | 21.2% | 17.6% | 15.4% | 21.8% | 26.4% | 25.2% | 17.4% | 27.7% | 40.2% | 35.5% | 21.9% | 18.4% | 14.8% | 15.0% |
| Operating margin | −7.5% | 7.6% | 9.6% | 10.3% | 8.7% | 13.3% | 9.1% | 12.9% | 15.7% | 18.6% | 9.9% | 22.7% | 35.7% | 30.2% | 15.5% | 9.6% | 10.6% | 11.7% |
| Net margin | −10.8% | 21.5% | 5.3% | 6.4% | 7.8% | 24.7% | 7.1% | 16.1% | 8.1% | 10.0% | −1.2% | 10.6% | 25.6% | 18.5% | 10.9% | 5.6% | 4.7% | 6.5% |
| Free-cash-flow margin | −7.7% | 8.3% | 1.3% | 5.4% | 10.2% | 10.2% | 8.9% | 4.5% | 11.7% | 10.0% | 13.9% | 19.6% | 30.4% | 27.3% | 17.9% | 13.4% | 7.4% | 6.8% |
| Return on equity | −13.5% | 29.6% | 7.5% | 9.2% | 10.4% | 30.2% | 9.9% | 14.6% | 6.4% | 8.3% | −0.9% | 9.4% | 26.7% | 17.5% | 8.0% | 4.0% | 3.4% | 4.8% |
| Return on assets | −3.6% | 8.9% | 2.5% | 3.1% | 4.2% | 13.1% | 3.8% | 6.4% | 3.1% | 4.2% | −0.5% | 4.9% | 15.4% | 10.7% | 4.9% | 2.4% | 2.0% | 2.7% |
| Asset turnover | 0.33 | 0.41 | 0.48 | 0.47 | 0.54 | 0.53 | 0.54 | 0.40 | 0.39 | 0.42 | 0.39 | 0.46 | 0.60 | 0.58 | 0.45 | 0.43 | 0.42 | 0.42 |
| Current ratio | — | — | — | 1.50 | 2.06 | 3.06 | 2.75 | 1.34 | 1.47 | 0.83 | 1.60 | 1.69 | 3.29 | 1.58 | 2.94 | 1.79 | 1.29 | 1.82 |
| Debt to equity | 0.0% | 0.0% | 0.0% | 105.6% | 72.1% | 92.3% | 98.7% | 72.2% | 67.5% | 70.1% | 78.0% | 63.0% | 47.6% | 47.4% | 50.0% | 52.6% | 59.5% | 57.1% |
| Interest cover (operating income ÷ interest) | n/m | 1.0x | 1.5x | 1.8x | 1.7x | 2.9x | 1.9x | 1.9x | 2.9x | 3.7x | 1.7x | 4.9x | 11.6x | 11.4x | 4.2x | 2.5x | 2.7x | 3.1x |
| Effective tax rate | — | — | −24.1% | 3.1% | — | 10.3% | −16.4% | 17.7% | 18.7% | 7.3% | — | 18.8% | 21.4% | 18.4% | 10.5% | 7.3% | −24.6% | −23.8% |
| R&D as % of revenue | 1.0% | 0.6% | 0.5% | 0.5% | 0.5% | 0.3% | 0.3% | 0.3% | 0.2% | 0.1% | 0.1% | 0.1% | 0.0% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% |
| SG&A as % of revenue | 13.4% | 10.9% | 9.7% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Capital spending as % of revenue | 3.7% | 3.3% | 3.4% | 4.3% | 3.6% | 4.8% | 6.3% | 7.1% | 5.0% | 4.9% | 0.9% | 0.7% | 0.5% | 0.5% | 0.7% | 0.7% | 0.7% | 0.7% |
| Free cash flow ÷ net income | — | 38.6% | 23.9% | 84.4% | 132.0% | 41.3% | 124.9% | 27.7% | 144.8% | 99.5% | — | 184.8% | 119.1% | 147.8% | 164.0% | 241.4% | 157.7% | 105.5% |
| Dividends ÷ net income | — | 47.5% | 97.6% | 86.8% | 81.3% | 30.8% | 122.3% | 90.7% | 161.7% | 133.0% | — | 47.8% | 33.9% | 86.0% | 144.9% | 172.7% | 187.0% | 133.8% |
| Dividends and buybacks ÷ free cash flow | — | 122.8% | 455.7% | 102.8% | 61.6% | 101.5% | 179.9% | >999% | 111.6% | 182.9% | 118.0% | 25.9% | 31.7% | 77.7% | 97.9% | 87.7% | 149.9% | 135.1% |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Gross margin | 17.8% | 19.0% | 17.3% | 11.9% | 10.4% | 18.4% | 16.7% | 13.8% |
| Operating margin | 8.3% | 10.2% | 9.4% | 7.2% | 16.3% | 14.3% | 11.9% | 5.4% |
| Net margin | 4.7% | 4.7% | 4.6% | 4.7% | 4.8% | 9.0% | 8.7% | 3.3% |
| Free-cash-flow margin | 12.0% | 2.7% | 20.6% | 11.8% | −8.3% | 1.7% | 20.9% | 10.0% |
| Current ratio | 1.79 | 2.04 | 1.04 | 1.23 | 1.29 | 1.42 | 1.82 | 1.82 |
| Debt to equity | 52.2% | 52.0% | 44.8% | 52.4% | 59.1% | 53.5% | 56.1% | 57.1% |
| R&D as % of revenue | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% |
Moat
Moderate moat
How hard Weyerhaeuser's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.
- Returns on capital 2 / 20
Net income has been a median 3.1% of total assets over 10 years.
- Pricing power 3 / 20
Gross margin has been a median 23.0%, moving by 8.1 percentage points (standard deviation) across 10 years.
- Durability 13 / 20
Operating margin has been a median 13.3%; its worst year was 8.8%.
- Cash conversion 17 / 20
Free cash flow was positive in 10 of 10 years, at a median 13.1% of revenue.
- Discipline 18 / 20
The diluted share count fell 3.8% over five years; stock-based pay has been a median 0.5% of revenue.
AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.