West Fraser Timb Financials

WFG

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows West Fraser Timb (WFG) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI WFG FY2025 2026-04-22

West Fraser is funding a cyclical earnings slump from its balance sheet, not debt markets, while keeping reinvestment unusually steady.

From FY2023 to FY2025, operating cash flow fell from $525M to $96M. Because capex stayed above $400M throughout that stretch, the shift from barely positive to negative free cash flow reads as a capital-intensive asset base being maintained through a weaker cycle, not just an accounting earnings swing.

The striking balance-sheet signal is self-funding rather than leverage: FY2025 long-term debt was only $24M against $5.8B of equity. Losses have therefore shown up mainly as lower cash and retained earnings, which tells you management has not used borrowing to cushion the downturn.

Short-term liquidity still screens as acceptable at 2.1x current ratio. But the cash cushion shrank to $202M while inventory stayed elevated at $828M, so more of the working-capital buffer is tied up in product rather than immediately spendable cash.

Financial Health Signals

Financial Profile 30/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of West Fraser Timb's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Growth

West Fraser Timb's revenue declined 11.5% year-over-year, from $6.2B to $5.5B. This contraction results in a growth score of 20/100.

Leverage

100

West Fraser Timb carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

West Fraser Timb's current ratio of 2.13 indicates adequate short-term liquidity, earning a score of 39/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

While West Fraser Timb generated $96.0M in operating cash flow, capex of $411.0M consumed most of it, leaving -$315.0M in free cash flow. This results in a low score of 20/100, reflecting heavy capital investment rather than weak cash generation.

Returns

West Fraser Timb generates a -16.0% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -0.1% the prior year.

Piotroski F-Score Neutral

4/9

West Fraser Timb passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed

-0.10x

For every $1 of reported earnings, West Fraser Timb generates $-0.10 in operating cash flow ($96.0M OCF vs -$937.0M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue

$5.5B

YoY-11.5%

5Y CAGR+4.5%

West Fraser Timb generated $5.5B in revenue in fiscal year 2025. This represents a decrease of 11.5% from the prior year.

EBITDA

N/A

Net Income

-$937.0M

YoY-18640.0%

West Fraser Timb reported -$937.0M in net income in fiscal year 2025. This represents a decrease of 18640.0% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

-$315.0M

YoY-281.0%

West Fraser Timb generated -$315.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 281.0% from the prior year.

Cash & Debt

$202.0M

YoY-68.5%

5Y CAGR-15.2%

West Fraser Timb held $202.0M in cash against $24.0M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

-17.2%

YoY-17.1pp

5Y CAGR-30.6pp

West Fraser Timb's net profit margin was -17.2% in fiscal year 2025, showing the share of revenue converted to profit. This is down 17.1 percentage points from the prior year.

Return on Equity

-16.0%

YoY-16.0pp

5Y CAGR-39.8pp

West Fraser Timb's ROE was -16.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 16.0 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$411.0M

YoY-15.6%

5Y CAGR+18.0%

West Fraser Timb invested $411.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 15.6% from the prior year.

WFG Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$5.5B-11.5%	$6.2B-4.3%	$6.5B-33.5%	$9.7B-7.8%	$10.5B+140.5%	$4.4B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$1.0M-97.1%	$34.0M-33.3%	$51.0M+1800.0%	-$3.0M+93.3%	-$45.0M-66.7%	-$27.0M
Income Tax	-$233.0M-641.9%	$43.0M+170.5%	-$61.0M-109.9%	$618.0M-35.0%	$951.0M+370.8%	$202.0M
Net Income	-$937.0M-18640.0%	-$5.0M+97.0%	-$167.0M-108.5%	$2.0B-33.0%	$2.9B+401.2%	$588.0M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A

WFG Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$7.6B-13.0%	$8.8B-7.0%	$9.4B-5.6%	$10.0B-4.4%	$10.4B+149.7%	$4.2B
Current Assets	$1.4B-24.5%	$1.8B-22.7%	$2.4B-13.5%	$2.7B-14.5%	$3.2B+140.8%	$1.3B
Cash & Equivalents	$202.0M-68.5%	$641.0M-28.8%	$900.0M-22.5%	$1.2B-25.9%	$1.6B+240.1%	$461.0M
Inventory	$828.0M-1.9%	$844.0M-0.8%	$851.0M-17.5%	$1.0B-2.7%	$1.1B+83.6%	$578.0M
Accounts Receivable	$244.0M-17.0%	$294.0M-5.5%	$311.0M-11.1%	$350.0M-31.1%	$508.0M+83.4%	$277.0M
Goodwill	$1.5B-21.7%	$1.9B-3.6%	$1.9B+0.3%	$1.9B-1.6%	$2.0B+253.3%	$559.0M
Total Liabilities	$1.8B-2.0%	$1.8B-17.6%	$2.2B-6.8%	$2.4B-15.2%	$2.8B+63.4%	$1.7B
Current Liabilities	$651.0M-30.3%	$934.0M-11.0%	$1.1B+32.6%	$792.0M-34.3%	$1.2B+128.4%	$528.0M
Long-Term Debt	$24.0M+26.3%	$19.0M-26.9%	$26.0M0.0%	$26.0M+44.4%	$18.0M-96.8%	$571.0M
Total Equity	$5.8B-15.9%	$7.0B-3.7%	$7.2B-5.2%	$7.6B-0.5%	$7.7B+209.0%	$2.5B
Retained Earnings	$3.6B-23.2%	$4.7B-3.8%	$4.9B-7.0%	$5.3B+17.3%	$4.5B+101.3%	$2.2B

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19
Total Assets	$7.6B-13.0%	$8.8B-7.0%	$9.4B-5.6%	$10.0B-4.4%	$10.4B+149.7%	$4.2B+16.2%	$3.6B
Current Assets	$1.4B-24.5%	$1.8B-22.7%	$2.4B-13.5%	$2.7B-14.5%	$3.2B+140.8%	$1.3B+51.3%	$883.0M
Cash & Equivalents	$202.0M-68.5%	$641.0M-28.8%	$900.0M-22.5%	$1.2B-25.9%	$1.6B+240.1%	$461.0M+3741.7%	$12.0M
Inventory	$828.0M-1.9%	$844.0M-0.8%	$851.0M-17.5%	$1.0B-2.7%	$1.1B+83.6%	$578.0M+3.0%	$561.0M
Accounts Receivable	$244.0M-17.0%	$294.0M-5.5%	$311.0M-11.1%	$350.0M-31.1%	$508.0M+83.4%	$277.0M+39.2%	$199.0M
Goodwill	$1.5B-21.7%	$1.9B-3.6%	$1.9B+0.3%	$1.9B-1.6%	$2.0B+253.3%	$559.0M+0.9%	$554.0M
Total Liabilities	$1.8B-2.0%	$1.8B-17.6%	$2.2B-6.8%	$2.4B-15.2%	$2.8B+63.4%	$1.7B+0.7%	$1.7B
Current Liabilities	$651.0M-30.3%	$934.0M-11.0%	$1.1B+32.6%	$792.0M-34.3%	$1.2B+128.4%	$528.0M-18.0%	$644.0M
Long-Term Debt	$24.0M+26.3%	$19.0M-26.9%	$26.0M0.0%	$26.0M+44.4%	$18.0M-96.8%	$571.0M-33.4%	$857.0M
Total Equity	$5.8B-15.9%	$7.0B-3.7%	$7.2B-5.2%	$7.6B-0.5%	$7.7B+209.0%	$2.5B+30.1%	$1.9B
Retained Earnings	$3.6B-23.2%	$4.7B-3.8%	$4.9B-7.0%	$5.3B+17.3%	$4.5B+101.3%	$2.2B+31.8%	$1.7B

WFG Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$96.0M-85.5%	$661.0M+25.9%	$525.0M-76.2%	$2.2B-37.9%	$3.6B+266.9%	$968.0M
Capital Expenditures	$411.0M-15.6%	$487.0M+2.1%	$477.0M0.0%	$477.0M-24.9%	$635.0M+252.8%	$180.0M
Free Cash Flow	-$315.0M-281.0%	$174.0M+262.5%	$48.0M-97.2%	$1.7B-40.7%	$2.9B+270.2%	$788.0M
Investing Cash Flow	-$380.0M-19.5%	-$318.0M+40.0%	-$530.0M-15.5%	-$459.0M-60.5%	-$286.0M-72.3%	-$166.0M
Financing Cash Flow	-$167.0M+71.3%	-$582.0M-117.2%	-$268.0M+87.4%	-$2.1B+1.8%	-$2.2B-513.0%	-$353.0M
Dividends Paid	$101.0M0.0%	$101.0M+1.0%	$100.0M+1.0%	$99.0M+32.0%	$75.0M+82.9%	$41.0M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A

WFG Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-17.2%-17.1pp	-0.1%+2.5pp	-2.6%-22.9pp	20.4%-7.7pp	28.0%+14.6pp	13.5%
Return on Equity	-16.0%-16.0pp	-0.1%+2.2pp	-2.3%-28.2pp	25.9%-12.6pp	38.5%+14.8pp	23.7%
Return on Assets	-12.3%-12.2pp	-0.1%+1.7pp	-1.8%-21.6pp	19.8%-8.4pp	28.2%+14.2pp	14.1%
Current Ratio	2.13+0.2	1.97-0.3	2.26-1.2	3.47+0.8	2.67+0.1	2.53
Debt-to-Equity	0.000.0	0.000.0	0.000.0	0.000.0	0.00-0.2	0.23
FCF Margin	-5.8%-8.6pp	2.8%+2.1pp	0.7%-17.1pp	17.8%-9.9pp	27.7%+9.7pp	18.0%

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	2.13+0.2	1.97-0.3	2.26-1.2	3.47+0.8	2.67+0.1	2.53+1.2	1.37
Debt-to-Equity	0.000.0	0.000.0	0.000.0	0.000.0	0.00-0.2	0.23-0.2	0.45
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is West Fraser Timb's annual revenue?

West Fraser Timb (WFG) reported $5.5B in total revenue for fiscal year 2025. This represents a -11.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is West Fraser Timb's revenue growing?

West Fraser Timb (WFG) revenue declined by 11.5% year-over-year, from $6.2B to $5.5B in fiscal year 2025.

Is West Fraser Timb profitable?

No, West Fraser Timb (WFG) reported a net income of -$937.0M in fiscal year 2025, with a net profit margin of -17.2%.

How much debt does West Fraser Timb have?

As of fiscal year 2025, West Fraser Timb (WFG) had $202.0M in cash and equivalents against $24.0M in long-term debt.

What is West Fraser Timb's net profit margin?

West Fraser Timb (WFG) had a net profit margin of -17.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is West Fraser Timb's return on equity (ROE)?

West Fraser Timb (WFG) has a return on equity of -16.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is West Fraser Timb's free cash flow?

West Fraser Timb (WFG) generated -$315.0M in free cash flow during fiscal year 2025. This represents a -281.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is West Fraser Timb's operating cash flow?

West Fraser Timb (WFG) generated $96.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are West Fraser Timb's total assets?

West Fraser Timb (WFG) had $7.6B in total assets as of fiscal year 2025, including both current and long-term assets.

What are West Fraser Timb's capital expenditures?

West Fraser Timb (WFG) invested $411.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

What is West Fraser Timb's current ratio?

West Fraser Timb (WFG) had a current ratio of 2.13 as of fiscal year 2025, which is generally considered healthy.

What is West Fraser Timb's debt-to-equity ratio?

West Fraser Timb (WFG) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is West Fraser Timb's return on assets (ROA)?

West Fraser Timb (WFG) had a return on assets of -12.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is West Fraser Timb's Piotroski F-Score?

West Fraser Timb (WFG) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are West Fraser Timb's earnings high quality?

West Fraser Timb (WFG) has an earnings quality ratio of -0.10x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is West Fraser Timb?

West Fraser Timb (WFG) scores 30 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.