olivLaw · US equity research
Weyerhaeuser Company WY
Real Estate Investment Trusts · SIC 6798 · Vertical: Real Estate Investment Trusts (SIC 6798)
Weyerhaeuser is one of the world's largest private owners of timberlands and also one of the largest wood products manufacturers in North America, operating as a REIT. It reported net sales of 6.9 bn USD in 2025, and its performance depends closely on the U.S. housing and repair and remodel markets.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Weyerhaeuser Company (WY) stock was 21.75 USD (+5.63% on the day), with market capitalisation 15.7 bn USD, P/E 34.4 on diluted EPS of 0.63 USD over the last 12 months, dividend yield 3.86%, beta 0.56, 52-week range 18.47–27.10 USD. Latest reported quarter (Q3 2026): revenue of 1.9 bn USD (+8.4% YoY), net income of 61.0 m USD (−23.8% YoY), diluted EPS 0.08 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 64.4
- strong (55–70)
- Bollinger (20, 2)
- 18.11 – 21.17
- above the upper band · %B 1.19 · band width 15.6%
- SMA 50 / 200
- 20.67 / 23.58
- mixed trend
- MACD (12, 26, 9)
- 0.14 / -0.22
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +17.6% | −1.1% | +18.7 pp | — |
| 3 months | −15.8% | −0.5% | −15.4 pp | — |
| 6 months | −9.5% | +4.4% | −13.9 pp | — |
| Year to date | −8.2% | +12.3% | −20.5 pp | — |
| 1 year | −3.7% | +13.5% | −17.3 pp | +3.0% |
| 3 years | −30.0% | +76.4% | −106.5 pp | +13.2% |
| 5 years | −43.3% | +63.7% | −106.9 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.7 bn | 1.8 bn | 1.9 bn | 1.7 bn | 1.5 bn | 1.7 bn | 1.9 bn | 1.9 bn |
| Cost of revenue | 1.4 bn | 1.4 bn | 1.6 bn | 1.5 bn | 1.4 bn | 1.4 bn | 1.6 bn | 1.6 bn |
| Gross profit | 304.0 m | 335.0 m | 325.0 m | 204.0 m | 161.0 m | 318.0 m | 311.0 m | 257.0 m |
| Research & development | 2.0 m | 1.0 m | 1.0 m | 2.0 m | 1.0 m | 1.0 m | 1.0 m | 2.0 m |
| Operating income | 141.0 m | 179.0 m | 178.0 m | 123.0 m | 251.0 m | 247.0 m | 223.0 m | 100.0 m |
| Depreciation & amortisation | 126.0 m | 125.0 m | 125.0 m | 130.0 m | 129.0 m | 124.0 m | 127.0 m | 132.0 m |
| Interest expense | 66.0 m | 66.0 m | 66.0 m | 71.0 m | 70.0 m | 66.0 m | 66.0 m | 63.0 m |
| Pre-tax income | 74.0 m | 99.0 m | 99.0 m | 39.0 m | 23.0 m | 171.0 m | 147.0 m | 25.0 m |
| Income tax | -7.0 m | 16.0 m | 12.0 m | -41.0 m | -51.0 m | 15.0 m | -15.0 m | -36.0 m |
| Net income | 81.0 m | 83.0 m | 87.0 m | 80.0 m | 74.0 m | 156.0 m | 162.0 m | 61.0 m |
| Diluted EPS | 0.11 ≈ | 0.11 | 0.12 | 0.11 | 0.10 ≈ | 0.22 | 0.23 | 0.08 |
| Operating cash flow | 218.0 m | 70.0 m | 396.0 m ≈ | 210.0 m ≈ | -114.0 m | 52.0 m | 399.0 m ≈ | 193.0 m ≈ |
| Dividends paid | 145.0 m | 152.0 m | 152.0 m ≈ | 150.0 m ≈ | 152.0 m | 151.0 m | 152.0 m ≈ | 151.0 m ≈ |
| Share repurchases | 28.0 m | 25.0 m | 100.0 m ≈ | 25.0 m ≈ | 10.0 m | 10.0 m | 10.0 m ≈ | 10.0 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 57 percentile of its own 37-quarter history (min 9.3, median 31.5, max 105.4; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 7.5 bn | 6.6 bn | 7.5 bn | 10.2 bn | 10.2 bn | 7.7 bn | 7.1 bn | 6.9 bn |
| Revenue YoY | +3.9% | −12.3% | +14.9% | +35.4% | −0.2% | −24.6% | −7.2% | −3.1% |
| Net income | 748.0 m | -76.0 m | 797.0 m | 2.6 bn | 1.9 bn | 839.0 m | 396.0 m | 324.0 m |
| Net income YoY | +28.5% | −110.2% | unavailable | +227.1% | −27.9% | −55.4% | −52.8% | −18.2% |
| Diluted EPS | 0.99 | -0.10 | 1.07 | 3.47 | 2.53 | 1.15 | 0.54 | 0.45 |
| Diluted EPS YoY | +28.6% | −110.1% | unavailable | +224.3% | −27.1% | −54.5% | −53.0% | −16.7% |
| net % | 10.0% | -1.2% | 10.6% | 25.6% | 18.5% | 10.9% | 5.6% | 4.7% |
| Free cash flow | 744.0 m | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
Reported results vs expectations
Loading…
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 464.0 m USD
- Financial debt
- 5.6 bn USD
- Net debt
- 5.1 bn USD
- Equity
- 9.4 bn USD
- Total assets
- 16.6 bn USD
- Debt / equity
- 0.59x
- Current ratio
- 1.29x
- ROE
- 3.4%
- ROA
- 2.0%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 7.5 bn | 10.2 bn | 10.2 bn | 7.7 bn | 7.1 bn | 6.9 bn | SEC (XBRL)· 13 Feb 2026verified |
| Cost of revenue | 5.4 bn | 6.1 bn | 6.6 bn | 6.0 bn | 5.8 bn | 5.9 bn | SEC (XBRL)· 13 Feb 2026verified |
| Gross profit | 2.1 bn | 4.1 bn | 3.6 bn | 1.7 bn | 1.3 bn | 1.0 bn | SEC (XBRL)· 13 Feb 2026verified |
| Research & development | 5.0 m | 5.0 m | 6.0 m | 7.0 m | 7.0 m | 5.0 m | SEC (XBRL)· 13 Feb 2026verified |
| Operating income | 1.7 bn | 3.6 bn | 3.1 bn | 1.2 bn | 685.0 m | 731.0 m | SEC (XBRL)· 13 Feb 2026verified |
| Depreciation & amortisation | 472.0 m | 477.0 m | 480.0 m | 500.0 m | 502.0 m | 509.0 m | SEC (XBRL)· 13 Feb 2026verified |
| EBITDA | 2.2 bn ≈ | 4.1 bn ≈ | 3.6 bn ≈ | 1.7 bn ≈ | 1.2 bn ≈ | 1.2 bn ≈ | SEC (XBRL)· 13 Feb 2026derived |
| Interest expense | 351.0 m | 313.0 m | 270.0 m | 280.0 m | 269.0 m | 273.0 m | SEC (XBRL)· 13 Feb 2026verified |
| Pre-tax income | 982.0 m | 3.3 bn | 2.3 bn | 937.0 m | 427.0 m | 260.0 m | SEC (XBRL)· 13 Feb 2026verified |
| Income tax | 185.0 m | 709.0 m | 425.0 m | 98.0 m | 31.0 m | -64.0 m | SEC (XBRL)· 13 Feb 2026verified |
| Net income | 797.0 m | 2.6 bn | 1.9 bn | 839.0 m | 396.0 m | 324.0 m | SEC (XBRL)· 13 Feb 2026verified |
| Diluted EPS | 1.07 | 3.47 | 2.53 | 1.15 | 0.54 | 0.45 | SEC (XBRL)· 13 Feb 2026verified |
| Weighted average diluted shares | 747.9 m | 751.0 m | 743.0 m | 732.2 m | 729.0 m | 723.6 m | SEC (XBRL)· 13 Feb 2026verified |
| Dividend per share | 0.51 | 1.18 | 2.17 | 1.66 | 0.94 | 0.84 | SEC (XBRL)· 13 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 495.0 m | 1.9 bn | 1.6 bn | 1.2 bn | 684.0 m | 464.0 m | SEC (XBRL)· 13 Feb 2026verified |
| Receivables | 450.0 m | 507.0 m | 357.0 m | 354.0 m | 306.0 m | 303.0 m | SEC (XBRL)· 13 Feb 2026verified |
| Inventories | 443.0 m | 520.0 m | 550.0 m | 566.0 m | 607.0 m | 593.0 m | SEC (XBRL)· 13 Feb 2026verified |
| Current assets | 1.6 bn | 3.1 bn | 2.7 bn | 2.3 bn | 1.7 bn | 1.7 bn | SEC (XBRL)· 13 Feb 2026verified |
| Property, plant & equipment, net | 2.0 bn | 2.1 bn | 2.2 bn | 2.3 bn | 2.3 bn | 2.4 bn | SEC (XBRL)· 13 Feb 2026verified |
| Total assets | 16.3 bn | 17.7 bn | 17.3 bn | 17.0 bn | 16.5 bn | 16.6 bn | SEC (XBRL)· 13 Feb 2026verified |
| Accounts payable | 204.0 m | 281.0 m | 247.0 m | 287.0 m | 255.0 m | 278.0 m | SEC (XBRL)· 13 Feb 2026verified |
| Short-term debt | 150.0 m | 0 | 978.0 m | 0 | 210.0 m | 522.0 m | SEC (XBRL)· 13 Feb 2026verified |
| Long-term debt | 5.3 bn | 5.1 bn | 4.1 bn | 5.1 bn | 4.9 bn | 5.1 bn | SEC (XBRL)· 13 Feb 2026verified |
| Current liabilities | 950.0 m | 954.0 m | 1.7 bn | 788.0 m | 977.0 m | 1.3 bn | SEC (XBRL)· 13 Feb 2026verified |
| Total liabilities | 7.6 bn | 6.9 bn | 6.6 bn | 6.7 bn | 6.8 bn | 7.2 bn | SEC (XBRL)· 13 Feb 2026verified |
| Equity | 8.7 bn | 10.8 bn † | 10.7 bn † | 10.2 bn † | 9.7 bn † | 9.4 bn † | SEC (XBRL)· 13 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 1.5 bn | 3.2 bn | 2.8 bn | 1.4 bn | 1.0 bn | 562.0 m | SEC (XBRL)· 13 Feb 2026verified |
| Investing cash flow | 185.0 m | -325.0 m | -759.0 m | -508.0 m | -636.0 m | -475.0 m | SEC (XBRL)· 13 Feb 2026verified |
| Financing cash flow | -1.4 bn | -1.3 bn | -2.5 bn | -1.3 bn | -852.0 m | -290.0 m | SEC (XBRL)· 13 Feb 2026verified |
| Dividends paid | 381.0 m | 884.0 m | 1.6 bn | 1.2 bn | 684.0 m | 606.0 m | SEC (XBRL)· 13 Feb 2026verified |
| Share repurchases | 0 | 100.0 m | 543.0 m | 131.0 m | 154.0 m | 160.0 m | SEC (XBRL)· 13 Feb 2026verified |
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Market and valuation
9 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 43 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 15.7 bn USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet71
- Growth0
- Quality13
- Returns31
- Valuation52
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 11.04 – 32.27 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- Net asset value (NAV)unavailable · input data missing
- Dividend discount (DDM)11.04 – 14.84 (Mid 12.66)
- Peers: P/B13.17 – 32.27 (Mid 23.63)31 companies used · median multiple 1.8x · quartiles 1.0x – 2.5xAKR, ARI, BRSP, CTO, DLR, DRH, ESS, EXR, FCPT, FVR, GLPI, HST, KIM, LOAN, NXRT, O, PEB, PLD, PSA, PSTL, REG, SAFE, SITC, SQFT, STAG, TCI, UDR, VICI, VMRK, VTR, WELL
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 43/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROE · Quality | 4.8% | 31 (vs peers) | 7% |
| EBITDA margin · Quality | 19.1% | 0 (on a fixed band) | 9% |
| Revenue CAGR 3Y · Growth | -12.1% | 0 (on a fixed band) | 9% |
| Net debt / EBITDA · Balance sheet | 3.8x | 76 (vs peers) | 15% |
| Interest coverage · Balance sheet | 3.1x | 64 (on a fixed band) | 13% |
| P/B · Valuation | 1.7x | 60 (vs peers) | 20% |
| P/E (TTM) · Valuation | 34.4x | 34 (vs peers) | 9% |
| Dividend yield · Returns | 3.9% | 39 (vs peers) | 15% |
| Payout ratio (EPS) · Returns | 132.8% | 0 (on a fixed band) | 4% |
Score groups
- Balance sheet71/100 · 2/2 factors with a value
- Growth0/100 · 1/1 factors with a value
- Quality13/100 · 2/2 factors with a value
- Returns31/100 · 2/2 factors with a value
- Valuation52/100 · 2/2 factors with a value
Memo
WEYERHAEUSER COMPANY (WY). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 6.9 bn USD in 2025; YoY growth -3.1%; net margin 6.5%; ROE 4.8%; net debt/EBITDA 3.8x.
The estimated value range is 12.11–23.56 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 18.15 USD, the price of 21.75 USD leaves a potential of -16.6% (value / price − 1) and a margin of safety of -19.8% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 43/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net debt / EBITDA: 3.8x
What contradicts it
- EBITDA margin: 19.1%
- Revenue CAGR 3Y: -12.1%
- Payout ratio (EPS): 132.8%
- The valuation methods diverge
Versus the vertical median
Real Estate Investment Trusts (SIC 6798) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| WELLWelltower Inc. | 181.9 bn | 106.2 | 4.0% | 12.7% | +35.6% | +19% / +178% |
| PLDPrologis, Inc. | 122.5 bn | 33.1 | 7.1% | 42.5% | +7.2% | +2% / +14% |
| EQIXEquinix Inc | 104.3 bn | 63.3 | 11.5% | 16.4% | +5.4% | +40% / +29% |
| AMTAmerican Tower Corporation | 90.4 bn | 27.3 | 90.6% | 30.7% | +5.1% | +7% / −7% |
| DLRDigital Realty Trust, Inc. | 65.0 bn | 48.3 | 6.2% | 21.7% | +10.0% | +15% / +33% |
| PSAPublic Storage | 64.0 bn | 34.9 | 16.0% | 37.8% | +2.7% | +25% / +32% |
| ORealty Income Corporation | 56.3 bn | 40.8 | 3.6% | 22.9% | +9.1% | +3% / +10% |
| VTRVentas, Inc. | 47.2 bn | 167.8 | 1.9% | 4.0% | +18.5% | +11% / +95% |
| CCICrown Castle Inc. | 39.2 bn | 48.6 | — | 20.1% | −4.4% | +1% / −21% |
| IRMIron Mountain Inc | 35.3 bn | 84.0 | — | 5.7% | +12.2% | +37% / +85% |
| EXRExtra Space Storage Inc. | 33.6 bn | 32.7 | 7.9% | 29.9% | +3.7% | +21% / +24% |
| VICIVICI Properties Inc. | 27.8 bn | 11.6 | 8.3% | 56.5% | +4.1% | −12% / −16% |
| VMRKVivmark Residential | 23.9 bn | 27.9 | 8.1% | — | +4.8% | +3% / +12% |
| SBACSba Communications Corporation | 20.7 bn | 21.1 | — | 34.5% | +5.1% | +1% / −21% |
| HSTHost Hotels & Resorts, Inc. | 17.9 bn | 17.5 | 15.8% | 16.5% | +7.6% | +48% / +49% |
| ESSEssex Property Trust, Inc. | 17.5 bn | 41.7 | 8.0% | 22.7% | +6.4% | +3% / +27% |
| KIMKimco Realty Corporation | 17.4 bn | 28.6 | 5.8% | 27.8% | +5.1% | +25% / +34% |
| WYWeyerhaeuser Company | 15.7 bn | 34.4 | 4.8% | 6.5% | −3.1% | −4% / −30% |
| REGRegency Centers Corporation | 14.1 bn | 25.7 | 8.0% | 34.5% | +6.9% | +8% / +22% |
| ELSEquity Lifestyle Properties, Inc. | 12.2 bn | 30.8 | 23.1% | 25.6% | +0.3% | −1% / −12% |
| UDRUDR, Inc. | 11.8 bn | 17.5 | 21.8% | 40.8% | +2.4% | +2% / +11% |
| GLPIGaming and Leisure Properties, Inc. | 11.6 bn | 12.2 | 19.6% | 55.2% | +4.1% | −8% / −15% |
| STAGSTAG Industrial, Inc. | 7.3 bn | 27.1 | 7.6% | 29.9% | +10.1% | −4% / +6% |
| DRHDiamondrock Hospitality Co | 3.0 bn | 18.4 | 10.6% | 14.3% | −0.8% | +61% / +76% |
| AKRAcadia Realty Trust | 2.7 bn | 28.4 | 9.5% | 54.4% | +14.2% | −3% / +31% |
1- and 3-year price returns: for WY from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 11.56 Total return -45% · Per year -45% | 20.54 Total return -3% · Per year -3% | 31.09 Total return 46% · Per year 46% |
| 3 years | 9.18 Total return -52% · Per year -22% | 18.54 Total return -7% · Per year -2% | 31.09 Total return 53% · Per year 15% |
| 5 years | 7.29 Total return -58% · Per year -16% | 16.73 Total return -11% · Per year -2% | 31.09 Total return 60% · Per year 10% |
- Exit P/E± 4.64
- Net margin± 3.24
- Annual revenue growth± 2.93
- Annual dilution± 0.27
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 31 Jul 2026; since then the company filed 10-Q (30 Oct 2026), 8-K (29 Oct 2026 · results).
In brief
Weyerhaeuser is one of the world's largest private owners of timberlands and also one of the largest wood products manufacturers in North America, operating as a REIT. It reported net sales of 6.9 bn USD in 2025 3, and its performance depends closely on the U.S. housing and repair and remodel markets.
SWOT
Strengths
- The company holds one of the largest private timberland portfolios in the world and has an internationally recognized sustainable forestry practice, with certification across its entire timberland portfolio 1.
- It operates as a REIT, which allows income to be distributed to shareholders without first paying corporate tax, and it has a broad asset base spread across three segments 1.
- It has extensive wood products capacity in North America and a culture focused on safety, with injury rates better than national industry rates 1.
Weaknesses
- Results are sensitive to the timing of land sales, which makes quarterly profit volatile, as seen in the real estate and Climate Solutions businesses 3.
- The Wood Products segment is exposed to lumber and oriented strand board price swings, and margins can be hit by higher operating and transport costs 3.
- Activity depends heavily on the U.S. housing sector, which means concentrated exposure to a single economic cycle 1.
Opportunities
- Sales of non-core land and of higher and better use assets could unlock additional value, and growth in Climate Solutions could add recurring revenue 3.
- The recent rise in lumber and log prices could improve results in wood products if the trend holds 3.
- Long-term demand for wood as a lower-emission building material could support growth, according to the company's arguments 1.
Risks
- U.S. housing cyclehigh
Results depend on the health of the U.S. housing market, and a slowdown in construction could affect all segments 1. The company explicitly notes that interest rates and inflation influence this trend 2.
- Trade policymedium
Trade restrictions and tariffs, including on log exports, could reduce revenue and shift market flows 2.
- Transport and energy costsmedium
Higher fuel and freight costs have already raised unit costs, and transport availability can disrupt production 23.
- Natural and climate eventsmedium
Fires, floods, hurricanes and pests could destroy forests and interrupt harvesting, and climate change could alter growing conditions 12.
- Lumpy land revenuelow
The timing of real estate and conservation transactions can produce very different quarterly results, which makes precise profit forecasts difficult 3.
Investment thesis
What would need to be true (bull case)
- If the recovery in lumber and log prices holds, Wood Products results could keep improving 3.
- The timberland portfolio, combined with non-core land sales and Climate Solutions projects, could generate additional long-term revenue 13.
- The REIT structure and disciplined capital allocation, with distributions tied to available cash flow, could support shareholder returns 23.
What would break the thesis
- If residential construction stays weak, demand for lumber and oriented strand board could remain under pressure 12.
- Quarterly results have in the past depended on one-off land sales, which makes recurring earnings hard to forecast 3.
- Pressures from fuel, transport and input costs could reduce margins if they do not ease in coming periods 3.
What to watch
- Evolution of lumber and log prices and their effect on Wood Products marginsQ3 2026
- Delivery of the approximately 450 million USD full-year 2026 Adjusted EBITDA outlook for Strategic Land Solutions2026
- Timing of land sales and solar projects in Climate Solutionsnext 10-K
- Trajectory of U.S. residential construction demand and trade policy2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 31 Jul 2026; since then the company filed 10-Q (30 Oct 2026), 8-K (29 Oct 2026 · results).
The business
Weyerhaeuser Company is one of the world's largest private owners of timberlands, with more than 10 million acres owned or controlled in the U.S. and long-term licenses covering more than 14 million acres in Canada 1. It manages forests on a sustainable basis and realizes value through growing and harvesting trees, selling properties and lease and royalty agreements, including through Climate Solutions 1. As a REIT, it distributes income to shareholders without first paying corporate tax, and timberland income comes mainly from selling standing timber and recreational leases 1.
Weyerhaeuser is also one of the largest wood products manufacturers in North America, operating 33 facilities in the U.S. and Canada 1. Its products include structural lumber, oriented strand board, engineered wood products and specialty products, supplied mainly to residential, multi-family, repair and remodel, industrial and light commercial markets 1. It also runs a distribution business that links harvesting to finished products 3.
The company has a near-term greenhouse gas reduction target approved by the Science Based Targets initiative, and it removes substantially more carbon than it emits each year 1. Results are reported across three segments, with financial details in the business segments note of the annual report 1.
Segments
Timberlands
The Timberlands segment manages forestland and sells logs, including pulpwood for pulp, paper and biofuels. In the second quarter of 2026, segment net sales were 518 million USD, with a net contribution to pretax earnings of 130 million USD, including a 71 million USD gain on timberland sales 23. In June the company completed the sale of 29,000 acres of non-core Oregon timberlands for 114 million USD 3.
Real Estate, Energy and Natural Resources (Strategic Land Solutions)
Beginning in the first quarter of 2026 this segment is renamed Strategic Land Solutions and includes Real Estate, Natural Resources and Climate Solutions 1. In the second quarter of 2026 net sales were 140 million USD, lower than the prior quarter due to the timing and mix of real estate sales 3. The company expects full-year 2026 Adjusted EBITDA of approximately 450 million USD 3.
Wood Products
In the second quarter of 2026 the Wood Products segment reported net sales of 1,360 million USD and Adjusted EBITDA of 129 million USD 3. Lumber sales realizations rose 15 percent and oriented strand board rose 3 percent compared with first quarter averages 3. For the third quarter the company anticipates Adjusted EBITDA slightly lower than the second quarter, excluding price effects 3.
Market context
Demand in Timberlands and Wood Products depends directly on U.S. residential construction and repair and remodel activity, and seasonal weather affects construction levels 12. In Timberlands, Western log markets are highly tensioned by available supply, while Southern markets have more supply, although new mill capacity in the South has tightened some geographies 2. Japanese housing starts drive export log demand, which matters for the Western timberlands 2.
The company ties its outlook to broader economic trends, including interest rates, inflation, employment and U.S. trade policy 2. Lumber and western log prices have recently increased, and management says it is encouraged by this, while noting macroeconomic uncertainty and near-term inflationary pressures 3. Management says it is confident in long-term demand fundamentals, without guaranteeing future results 3.
Trends
- Recovery in lumber and log pricestailwind
Lumber sales realizations rose 15 percent in the second quarter of 2026 compared with the first quarter, and management notes recent increases in lumber and western log pricing 3. If this continues, it could support margins in Wood Products and Timberlands 3.
- Cost and transport pressuresheadwind
Fuel and freight costs rose, and per unit log and haul costs were higher in the second quarter of 2026 3. Transportation constraints also caused operational disruptions in lumber production 3. These pressures could reduce margins if they persist.
Competitive position
The company operates in highly competitive domestic and foreign markets with numerous companies selling similar products, and many of its products compete with substitutes for wood 1. It competes mainly on product quality, service levels and price 1. Foreign producers are also a source of competition that can influence the prices it can charge 2.
Strategic Land Solutions competes by identifying higher and better use lands and capturing the full value of surface and subsurface assets 1. In wood products, competition covers structural lumber, oriented strand board and engineered wood products, and offerings must remain competitive on cost 1.
- North American wood products manufacturers
Competitors in lumber and oriented strand board are referred to generically in the report without being named in the sources reviewed 1.
- Producers of wood substitutes
Alternative building materials such as steel and concrete compete with wood products in construction, as the report describes 1.
- Other timberland owners
The company operates in a timberland market where competition over land value and sales is relevant, without specific firms being named in the sources 1.
- Foreign wood products producers
Foreign competition is mentioned in the report without concrete companies being identified in the sources provided 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Weyerhaeuser (WY) Could Benefit From Its Timberland Base and a U.S. Housing ReboundYahoo Finance — News · 18 Sept 2026 · EN
- Is Weyerhaeuser Stock Underperforming the S&P 500?Yahoo Finance — News · 17 Sept 2026 · EN
- Hexagon, Weyerhaeuser Ink Geothermal Development Deal for Pacific NorthwestYahoo Finance — News · 10 Sept 2026 · EN
The latest news item in our archive is from 18 Sept 2026; the newest SEC filing is from 30 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Quarterly report30 Oct 2026
- Current report29 Oct 2026Results of operations · Financial statements and exhibits
- Current report24 Sept 2026Regulation FD disclosure · Financial statements and exhibits
- Current report27 Aug 2026Regulation FD disclosure · Financial statements and exhibits
- Quarterly report31 Jul 2026
- Current report30 Jul 2026Results of operations · Financial statements and exhibits
- Current report25 Jun 2026Regulation FD disclosure · Financial statements and exhibits
- Current report28 May 2026Regulation FD disclosure · Financial statements and exhibits
- Current report20 May 2026Departure or appointment of officers · Shareholder vote · Financial statements and exhibits
- Quarterly report01 May 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Weyerhaeuser Company · 13 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Weyerhaeuser Company · 31 Jul 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Weyerhaeuser Company · 30 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.