West Fraser Timber Co. Ltd. (WFG) Balance Sheet
WFG balance sheet, 2025
December 31, 2025 · U.S. dollars$7.60B assets = $1.77B liabilities + $5.83B equity
Both columns are drawn to the same scale: what WFG owns equals what it owes plus shareholders’ equity. Hover a block for its value.
WFG financial health
Descriptive bands, not a rating. Fiscal 2025.
WFG balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $2.68B2016 | $7.60B2025 | +12.3%/yr | |
| Total liabilities | $1.01B2016 | $1.77B2025 | +6.4%/yr | |
| Shareholders’ equity | $1.67B2016 | $5.83B2025 | +14.9%/yr | |
| Cash & short-term investments | $37.2M2016 | $201.5M2025 | +20.6%/yr | |
| Total debt | $428.0M2016 | $332.7M2025 | −2.8%/yr | |
| Net cash (debt) | −$390.8M2016 | −$131.3M2025 | +$259.5M | |
| Working capital | $356.4M2016 | $734.1M2025 | +$377.7M | |
| Book value per share | $20.562016 | $73.862025 | +15.3%/yr | |
| Current ratio | 2.042016 | 2.132025 | +0.09 | |
| Debt / equity | 0.262016 | 0.062025 | −0.20 | |
| Shares outstanding | 81.1M2016 | 79.0M2025 | −0.3%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
WFG assets
WFG liabilities and equity
WFG debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
WFG balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $201.5M | $641.0M | $900.0M | $1.16B | $2.00B | $460.3M | $12.2M | $117.5M | $205.2M | $37.2M |
| Cash & equivalents | $201.5M | $641.0M | $900.0M | $1.16B | $2.00B | $460.8M | $16.0M | $160.0M | $258.0M | $50.0M |
| Short-term investments | — | — | $478.0M | — | $721.0M | $27.0M | −$3.8M | −$42.5M | −$52.8M | −$12.8M |
| Receivables | $322.1M | $316.0M | $404.0M | $495.0M | $700.0M | $284.7M | $300.9M | $279.0M | $279.9M | $221.0M |
| Inventory | $825.8M | $844.0M | $851.0M | $1.03B | $1.35B | $576.4M | $558.1M | $580.8M | $532.8M | $432.3M |
| Other current assets | $33.9M | $36.0M | $222.0M | $60.0M | $48.4M | $12.5M | $6.9M | $10.3M | $8.7M | $7.4M |
| Total current assets | $1.38B | $1.84B | $2.38B | $2.75B | $4.09B | $1.33B | $878.1M | $987.5M | $1.03B | $697.9M |
| Property, plant & equipment (net) | $3.58B | $3.84B | $3.83B | $3.98B | $5.22B | $1.65B | $1.64B | $1.51B | $1.50B | $1.25B |
| Goodwill & intangible assets | $2.06B | $2.54B | $2.68B | $2.71B | $3.57B | $961.4M | $968.4M | $939.8M | $1.01B | $686.0M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $577.5M | $541.0M | $519.0M | $533.0M | $392.0M | $221.9M | $88.8M | $80.8M | $55.7M | $40.9M |
| Total assets | $7.60B | $8.76B | $9.41B | $9.97B | $13.28B | $4.17B | $3.57B | $3.52B | $3.59B | $2.68B |
| Liabilities | ||||||||||
| Accounts payable | $582.5M | $401.0M | $417.0M | $430.0M | $523.1M | $215.7M | $183.0M | $190.9M | $194.0M | $157.0M |
| Short-term debt | $9.0M | $210.0M | $313.0M | $11.0M | $14.0M | $7.8M | $296.3M | $44.8M | — | $15.0M |
| Deferred revenue | — | — | $257.0M | — | $51.0M | $3.0M | $149.3M | $37.4M | — | — |
| Total current liabilities | $649.3M | $934.0M | $1.05B | $792.0M | $1.53B | $527.8M | $640.8M | $436.8M | $463.6M | $341.5M |
| Long-term debt | $300.0M | $0 | $199.0M | $499.0M | $499.0M | $637.0M | $658.0M | $692.0M | $636.0M | $413.0M |
| Lease obligations | $33.0M | $29.0M | $39.0M | $37.0M | $11.0M | $2.0M | $11.0M | — | — | — |
| Other long-term liabilities | $816.1M | $872.0M | $943.0M | $1.06B | $1.50B | $533.0M | $380.8M | $262.5M | $324.6M | $256.6M |
| Total liabilities | $1.77B | $1.81B | $2.19B | $2.35B | $3.53B | $1.70B | $1.68B | $1.39B | $1.42B | $1.01B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $2.49B | $2.55B | $2.61B | $2.67B | $4.33B | $379.6M | $369.8M | $360.5M | $436.6M | $408.5M |
| Retained earnings (deficit) | $3.62B | $4.73B | $4.91B | $5.28B | $5.73B | $2.01B | $1.42B | $1.64B | $1.65B | $1.15B |
| Accumulated other comprehensive income | −$276.3M | −$321.0M | −$297.0M | −$332.0M | −$316.9M | $82.3M | $101.1M | $124.8M | $85.9M | $111.6M |
| Total shareholders' equity | $5.83B | $6.95B | $7.22B | $7.62B | $9.74B | $2.47B | $1.89B | $2.13B | $2.17B | $1.67B |
| Key figures | ||||||||||
| Total debt | $332.7M | $229.0M | $538.0M | $536.0M | $670.7M | $644.8M | $954.3M | $736.8M | $505.8M | $428.0M |
| Net cash (debt) | −$131.3M | $412.0M | $362.0M | $626.0M | $1.32B | −$184.5M | −$942.0M | −$619.3M | −$300.6M | −$390.8M |
| Working capital | $734.1M | $903.0M | $1.33B | $1.96B | $2.56B | $806.2M | $237.3M | $550.6M | $563.0M | $356.4M |
| Tangible book value | $3.78B | $4.42B | $4.54B | $4.91B | $6.17B | $1.51B | $925.5M | $1.19B | $1.16B | $981.3M |
| Book value per share | $73.86 | $85.72 | $86.82 | $80.90 | $88.94 | $36.03 | $27.38 | $28.31 | $27.46 | $20.56 |
| Shares outstanding | 79.0M | 81.1M | 83.2M | 94.2M | 109.6M | 68.7M | 69.2M | 75.1M | 79.0M | 81.1M |
| Current ratio | 2.13 | 1.97 | 2.26 | 3.47 | 2.67 | 2.53 | 1.37 | 2.26 | 2.21 | 2.04 |
| Quick ratio | 0.81 | 1.02 | 1.24 | 2.09 | 1.76 | 1.41 | 0.49 | 0.91 | 1.05 | 0.76 |
| Debt / equity | 0.06 | 0.03 | 0.07 | 0.07 | 0.07 | 0.26 | 0.50 | 0.35 | 0.23 | 0.26 |
| Equity / assets | 76.8% | 79.4% | 76.7% | 76.4% | 73.4% | 59.3% | 53.0% | 60.4% | 60.3% | 62.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $73.9M | $81.3M | $201.5M | $545.5M | $647.4M | $390.0M | $641.0M | $997.0M | $1.00B | $710.3M | $710.3M | $1.20B |
| Cash & equivalents | $73.9M | $81.3M | $201.8M | $545.5M | $647.4M | $390.0M | $641.0M | $997.0M | $1.00B | $710.3M | $710.3M | $1.20B |
| Receivables | $411.5M | $447.5M | $322.1M | $379.6M | $368.8M | $459.0M | $316.0M | $392.4M | $449.0M | $457.5M | $458.0M | $499.0M |
| Inventory | $792.0M | $988.2M | $825.8M | $791.2M | $855.9M | $1.04B | $844.0M | $800.0M | $847.0M | $1.01B | $1.01B | $818.0M |
| Other current assets | $50.9M | $22.1M | $33.9M | $52.9M | $65.1M | $32.0M | $36.0M | $59.6M | $58.0M | $179.8M | $179.3M | $233.0M |
| Total current assets | $1.33B | $1.54B | $1.38B | $1.77B | $1.94B | $1.92B | $1.84B | $2.25B | $2.36B | $2.36B | $2.36B | $2.75B |
| Property, plant & equipment (net) | $3.49B | $3.56B | $3.58B | $3.80B | $3.82B | $3.82B | $3.84B | $3.82B | $3.81B | $3.83B | $3.83B | $3.82B |
| Goodwill & intangible assets | $3.72B | $3.76B | $2.06B | $5.62B | $2.51B | $2.52B | $2.54B | $2.63B | $2.65B | $5.89B | $2.66B | $2.65B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $0 | $577.5M | $0 | $519.7M | $503.0M | $541.0M | $543.0M | $538.0M | $0 | $524.7M | $555.0M |
| Total assets | $7.43B | $7.70B | $7.60B | $8.58B | $8.79B | $8.77B | $8.76B | $9.24B | $9.35B | $9.37B | $9.37B | $9.78B |
| Liabilities | ||||||||||||
| Accounts payable | $529.4M | $571.9M | $582.5M | $673.3M | $605.3M | $634.0M | $401.0M | $616.0M | $596.0M | $621.4M | $622.0M | $677.0M |
| Short-term debt | $54.9M | $203.7M | $9.0M | — | $200.0M | $200.0M | $210.0M | $500.0M | $300.0M | $299.7M | $300.0M | — |
| Deferred revenue | — | — | — | — | — | — | — | $58.9M | $59.0M | $11.0M | $11.0M | — |
| Total current liabilities | $645.2M | $837.7M | $649.3M | $740.3M | $670.5M | $919.0M | $934.0M | $1.23B | $1.01B | $1.01B | $1.01B | $784.0M |
| Long-term debt | $300.0M | $300.0M | $300.0M | $300.0M | $300.0M | $0 | $0 | $0 | $200.0M | $199.0M | $199.0M | $499.0M |
| Lease obligations | $25.0M | $25.0M | $33.0M | $23.0M | $29.0M | $24.0M | $29.0M | $26.0M | $23.0M | $24.0M | $39.0M | $31.0M |
| Other long-term liabilities | $923.5M | $900.9M | $816.1M | $920.8M | $903.7M | $912.0M | $872.0M | $891.0M | $890.0M | $933.8M | $933.8M | $967.0M |
| Total liabilities | $1.87B | $2.04B | $1.77B | $1.96B | $1.87B | $1.83B | $1.81B | $2.12B | $2.10B | $2.14B | $2.14B | $2.25B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $2.49B | $2.50B | $2.49B | $2.50B | $2.52B | $2.53B | $2.55B | $2.56B | $2.57B | $2.60B | $2.60B | $2.66B |
| Retained earnings (deficit) | $3.35B | $3.44B | $3.62B | $4.40B | $4.66B | $4.71B | $4.73B | $4.84B | $4.98B | $4.93B | $4.93B | $5.20B |
| Accumulated other comprehensive income | −$284.7M | −$285.9M | −$276.3M | −$281.7M | −$271.6M | −$305.0M | −$321.0M | −$277.0M | −$308.0M | −$305.7M | −$305.7M | −$325.0M |
| Total shareholders' equity | $5.56B | $5.66B | $5.83B | $6.62B | $6.91B | $6.94B | $6.95B | $7.12B | $7.24B | $7.23B | $7.23B | $7.53B |
| Key figures | ||||||||||||
| Total debt | $379.5M | $529.7M | $332.7M | $322.7M | $329.7M | $224.0M | $229.0M | $526.0M | $523.0M | $522.5M | $522.5M | $530.0M |
| Net cash (debt) | −$305.6M | −$448.5M | −$131.3M | $222.8M | $317.7M | $166.0M | $412.0M | $471.0M | $481.0M | $187.8M | $187.8M | $674.0M |
| Working capital | $683.2M | $701.3M | $734.1M | $1.03B | $1.27B | $1.00B | $903.0M | $1.01B | $1.34B | $1.35B | $1.35B | $1.97B |
| Tangible book value | $1.83B | $1.89B | $3.78B | $998.5M | $4.40B | $4.42B | $4.42B | $4.49B | $4.60B | $1.33B | $4.57B | $4.88B |
| Book value per share | $71.00 | $72.24 | $74.49 | $84.05 | $87.28 | $86.87 | $86.13 | $88.59 | $88.92 | $88.47 | $88.47 | $89.91 |
| Shares outstanding | 78.3M | 78.3M | 78.3M | 78.7M | 79.2M | 79.9M | 80.7M | 80.3M | 81.5M | 81.7M | 81.7M | 83.8M |
| Current ratio | 2.06 | 1.84 | 2.13 | 2.39 | 2.89 | 2.09 | 1.97 | 1.82 | 2.33 | 2.33 | 2.33 | 3.51 |
| Quick ratio | 0.75 | 0.63 | 0.81 | 1.25 | 1.52 | 0.92 | 1.02 | 1.13 | 1.43 | 1.15 | 1.15 | 2.17 |
| Debt / equity | 0.07 | 0.09 | 0.06 | 0.05 | 0.05 | 0.03 | 0.03 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 |
| Equity / assets | 74.8% | 73.5% | 76.8% | 77.1% | 78.7% | 79.1% | 79.4% | 77.0% | 77.5% | 77.1% | 77.1% | 77.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 11, 2026); data from EODHD.
WFG financial position
At the end of fiscal 2025 (December 31, 2025), West Fraser Timber had total assets of $7.6 billion (down 13.2% from a year earlier), total liabilities of $1.8 billion and shareholders' equity of $5.8 billion. It held $201.5 million in cash and short-term investments against $332.7 million of debt, net debt of $131.3 million. Its current ratio was 2.13. In the latest quarter (ended June 30, 2026) total assets were $7.4 billion and equity $5.6 billion.
Related: WFG income statement, WFG cash flow statement, WFG key metrics. See the WFG stock overview for the latest quote and news.
WFG balance sheet FAQ
What are West Fraser Timber's total assets?
West Fraser Timber reported total assets of $7.6 billion at the end of fiscal 2025 (December 31, 2025), compared with $8.8 billion a year earlier.
How much debt does West Fraser Timber have?
West Fraser Timber had $332.7 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.06.
How much cash does West Fraser Timber have?
West Fraser Timber held $201.5 million in cash and short-term investments at the end of fiscal 2025; with $332.7 million of debt that is net debt of $131.3 million.
What is West Fraser Timber's book value?
West Fraser Timber's shareholders' equity (book value) was $5.8 billion at the end of fiscal 2025, or $73.86 per share.
What is West Fraser Timber's current ratio?
West Fraser Timber had current assets of $1.4 billion and current liabilities of $649.3 million, a current ratio of 2.13 (it can cover its short-term obligations).
How much goodwill does West Fraser Timber have?
West Fraser Timber carried $2.1 billion of goodwill and intangible assets, 27.0% of total assets, at the end of fiscal 2025.