Weyerhaeuser (WY)
Real Estate · $14.8B market cap · SEC CIK 0000106535
ahead of 1% of the S&P 500 · #30 of 30 in Real Estate
Next reports on Jan 27, 2027, after the close, with analysts expecting −$0.07 in earnings per share.
52-week range $18.26 to $27.75. 26% below its 52-week high and 13% above its low.
The case for WY
- Earnings per share up 37.5%.
- Pays a 3.4% dividend while you wait.
- Price/sales of 2.1× is lower than 97% of Real Estate companies.
The case against
- Expensive for its growth: 32.7× earnings, where 0% a year of growth would justify about 8×.
- Long-term debt of $5.0B would take 9 years of operating cash flow to repay.
- Operating profit covers its interest bill only 2.0 times.
- Revenue was flat on the year (−1.1%).
- Return on equity of only 5%.
- The price trend is weak (27/100): −8.4% over a year, −16.4% over three months, 26% below its 52-week high.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Real Estate companies (momentum is judged against fixed thresholds only), and the five are blended by weight. The score is where that blend places it in the S&P 500. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings and cash, against the growth you get | 9 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 19 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 28 |
| Momentumhow the price has behaved lately | 27 |
| Stabilityhow violently it moves, what it owes and what it pays you | 34 |
- Each factor except momentum is half fixed thresholds, half rank among the 30 Real Estate companies.
The financials
Revenue growth
Is the business growing? No, flat
| Last 12 months | −1.1% |
|---|---|
| Over 5 years | −1.7% a year |
| FY2025 revenue | $6.9B (−3%) |
Free cash flow
Is it generating real cash? Yes
| FY2025 free cash flow | $511M |
|---|---|
| Of revenue | 7% |
| Of profit | 158% |
Profit margins
Is profitability improving? Holding steady
| Gross margin | 15% |
|---|---|
| Operating margin | 12% |
| Net margin, FY24 → FY25 → now | 5.6% → 4.7% → 6.5% |
Debt vs. cash
Is the balance sheet healthy? Stretched
| Cash | $464M |
|---|---|
| Long-term debt | $5.0B |
| Net debt | $4.6B |
| Years to repay | 9.0 yrs |
Valuation
Is the stock price reasonable? No, expensive
| P/E | 32.7× |
|---|---|
| Fair P/E for its growth | 8× |
| Price / operating cash flow | 26.4× |
| Forward P/E | 43.3× |
| EV / EBITDA | 14.9× |
At 32.7× earnings it trades well above the 8× that 0% a year of growth would justify. At 26.4× operating cash flow it trades well above that same mark; for a REIT that counts for more than earnings, since depreciation makes its P/E look worse than the business is.
The financials, five years deep
Pulled from Weyerhaeuser's XBRL filings on SEC EDGAR. Italic rows are worked out from the others.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue growth | |||||
| Revenue | $6.9B | $7.1B | $7.7B | $10.2B | $10.2B |
| Change on the year | −3% | −7% | −25% | 0% | — |
| Free cash flow | |||||
| Free cash flow | $511M | $956M | $1.4B | $2.8B | $3.1B |
| Of revenue | 7% | 13% | 18% | 27% | 30% |
| Profit margins | |||||
| Gross margin | 14.8% | 18.4% | 21.9% | 35.5% | 40.2% |
| Operating margin | 10.6% | 9.6% | 15.5% | 30.2% | 35.7% |
| Net margin | 4.7% | 5.6% | 10.9% | 18.5% | 25.6% |
| Debt vs. cash | |||||
| Cash | $464M | $684M | $1.2B | $1.6B | $1.9B |
| Long-term debt | $5.0B | $4.9B | $5.1B | $4.1B | $5.1B |
| Net cash (debt) | −$4.6B | −$4.2B | −$3.9B | −$2.5B | −$3.2B |
Filings
The text of this 10-K could not be read automatically. The original is linked below.