West Fraser Timber Co (WFG) financial statements
West Fraser Timber Co reported revenue of $5.5B in fiscal 2025, up 4.5% a year over 5 years.
Net income was -$937M and the operating margin -21.7%, against 19.0% in 2020.
Free cash flow was -$315M, and the company returned $101M in dividends and $129M in net buybacks.
The diluted share count rose 15% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from West Fraser Timber Co's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $4.4B | $10.5B | $9.7B | $6.5B | $6.2B | $5.5B |
| Cost of revenue | $2.6B | $4.6B | $5.1B | $4.7B | $4.3B | $4.2B |
| Gross profit | $1.8B | $5.9B | $4.6B | $1.8B | $1.8B | $1.3B |
| Selling, general and admin | $185M | $312M | $365M | $307M | $282M | $280M |
| Operating income | $831M | $3.9B | $2.6B | -$284M | $7M | -$1.2B |
| Interest expense | $32M | $48M | $24M | $24M | $26M | $19M |
| Pre-tax income | $790M | $3.9B | $2.6B | -$228M | $38M | -$1.2B |
| Income tax | $202M | $951M | $618M | -$61M | $43M | -$233M |
| Net income | $588M | $2.9B | $2.0B | -$167M | -$5M | -$937M |
| EPS (diluted) | $8.56 | $27.03 | $20.86 | -$2.01 | -$0.07 | -$12.08 |
| Diluted shares | 69M | 109M | 94M | 83M | 81M | 79M |
| 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% |
Balance sheet
Fiscal years, from West Fraser Timber Co's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Cash and short-term investments | $461M | $1.6B | $1.2B | $900M | $641M | $202M |
| Receivables | $277M | $508M | $350M | $311M | $294M | $244M |
| Inventory | $578M | $1.1B | $1.0B | $851M | $844M | $828M |
| Total current assets | $1.3B | $3.2B | $2.7B | $2.4B | $1.8B | $1.4B |
| Property, plant and equipment | $1.7B | $4.1B | $4.0B | $3.8B | $3.8B | $3.6B |
| Goodwill | $559M | $2.0B | $1.9B | $1.9B | $1.9B | $1.5B |
| Total assets | $4.2B | $10.4B | $10.0B | $9.4B | $8.8B | $7.6B |
| Total current liabilities | $528M | $1.2B | $792M | $1.1B | $934M | $651M |
| Long-term debt | $500M | $499M | $499M | $199M | $0 | $300M |
| Total liabilities | $1.7B | $2.8B | $2.4B | $2.2B | $1.8B | $1.8B |
| Shareholders' equity | $2.5B | $7.7B | $7.6B | $7.2B | $7.0B | $5.8B |
| Net debt | $39M | -$1.1B | -$663M | -$701M | -$641M | $98M |
Cash flow
Fiscal years, from West Fraser Timber Co's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Operating cash flow | $968M | $3.6B | $2.2B | $525M | $661M | $96M |
| Capital spending | $180M | $635M | $477M | $477M | $487M | $411M |
| Free cash flow | $788M | $2.9B | $1.7B | $48M | $174M | -$315M |
| Dividends paid | $41M | $75M | $99M | $100M | $101M | $101M |
| Share buybacks (net) | $0 | -$1.3B | -$2.0B | -$129M | -$140M | -$129M |
| Net borrowing | $0 | -$667M | $0 | $0 | -$300M | $100M |
| Free cash flow margin | 18.0% | 27.7% | 17.8% | 0.7% | 2.8% | -5.8% |
| Dividends per share | $0.60 | $0.69 | $1.05 | $1.20 | $1.25 | $1.28 |
Questions
What was West Fraser Timber Co's revenue in 2025?
$5.5B in fiscal 2025, from its 10-K filing.
How much free cash flow does West Fraser Timber Co generate?
-$315M in fiscal 2025 (operating cash flow minus capital spending).
From West Fraser Timber Co's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.