Interprétation IA fondée sur des extraits vérifiés. Les déclarations de l’entreprise et les limites de couverture restent explicites.
Méthode quality-scores-2 : six catégories de même poids. Le score global exige une couverture complète. Les données manquantes ne valent pas zéro. Les évaluations qualitatives sont des interprétations sourcées, pas des probabilités. 3/6 · 24/10/2026
Moat—
Awaiting a sourced assessment under the current scoring policy and financial basis.
Pouvoir de fixation des prix—
Awaiting a sourced assessment under the current scoring policy and financial basis.
Prévisibilité63
Five consecutive annual periods. Equal weights: nondeclining revenue frequency; revenue-growth volatility (5–40pp); positive FCF frequency; FCF-margin volatility (3–20pp). Stability indicator, not a growth forecast.
- Nondeclining revenue years (%)
- 0.00
- Revenue growth volatility (pp)
- 9.50
- Positive FCF years (%)
- 100.00
- FCF margin volatility (pp)
- 9.28
Solidité financière15
Equal-weight grades: debt/FCF (1–8x), net debt/earnings before interest and tax (0–5x), interest service (1–12x), current ratio (0.75–2x). Earnings use reported operating income, or reported pretax profit plus reported interest expense when operating income is unavailable. Interest service uses earnings/interest expense; if unavailable, it uses reported operating cash flow/cash interest paid, without relabeling cash paid as accrued expense. Nonpositive cash flow/earnings score 0 for their service component; reported zero interest with a positive numerator scores 100. Net cash scores 100 for net leverage. Missing disclosures remain unavailable. General nonfinancial-company rubric, not a credit rating; exceptional and nonoperating gains are not normalized out. IFRS finance-cost and cash-flow classifications retain their reported scope.
- debtFcfGrade
- 0.00
- netDebtEbitGrade
- 0.00
- interestCoverageGrade
- 15.25
- currentRatioGrade
- 43.41
- Debt / FCF (x)
- 40.09
- Net debt / operating income (x)
- 6.99
- Interest coverage (x)
- 2.68
- Current ratio (x)
- 1.29
Allocation du capital81
Three-year equal-weight indicators: pretax return on average invested capital (0–25%; equity + debt − cash, each year and its prior year), share-count growth (0–5%, lower better), share-based cost/revenue (2–20%, lower better), consolidated FCF/net income (0–1x). Return uses reported operating income or, if unavailable, EBIT calculated from reported pretax profit plus reported interest expense; exceptional/nonoperating gains are not normalized out. Share-based cost uses the reported cash-flow add-back or, if absent, separately reported recognized compensation expense; the latter never becomes an FCF adjustment. Nonpositive net income scores 0 for cash conversion; absent income/FCF stays unavailable. Nonpositive invested capital has no defined return and remains unavailable. Does not establish acquisition quality or buyback timing.
- 3-year pre-tax operating return (%)
- 6.11
- 3-year average dilution (%)
- -0.85
- 3-year average SBC / revenue (%)
- 0.57
- cashConversionGrade
- 100.00
Qualité du management—
Awaiting a sourced assessment under the current scoring policy and financial basis.
Preuves
We own or control more than 10 million acres of timberlands in the U.S.
Our Business / timberland ownership · Dépôt 13/02/2026
We compete in the marketplace through our ability to provide customers with a consistent and reliable supply of high-quality logs at scale volumes and competitive prices.
Timberlands / competitive capabilities · Dépôt 13/02/2026
COMPETITION IN OUR MARKETS We operate in highly competitive domestic and foreign markets, with numerous companies selling similar products.
Competition in Our Markets · Dépôt 13/02/2026
The principal basis for competition for many of our products is selling price.
Risk Factors / basis of competition · Dépôt 13/02/2026
Increases in timber prices often result in substantial increases in harvesting on private timberlands, including lands owned by others and not previously made available for commercial timber operations, causing a short-term increase in supply that moderates such price increases.
Risk Factors / timber supply response · Dépôt 13/02/2026
For example, plastic, wood/plastic or composite materials may be used by builders as alternatives to our wood products such as lumber, veneer, plywood and oriented strand board.
Risk Factors / substitute materials · Dépôt 13/02/2026
PHYSICAL RISKS RELATED TO CLIMATE CHANGE Changes in global or regional climate conditions could significantly harm our timberland assets and have a negative impact on our results of operations, cash flow and financial condition.
Risk Factors / physical climate risks · Dépôt 13/02/2026
As the owner of mineral rights and interests, we typically do not invest in development or operations but, instead, enter into contracts with operators granting them the rights to explore, develop and sell energy and natural resources produced from our property in exchange for rents and royalties.
Energy and Natural Resources / rents and royalties · Dépôt 13/02/2026
We generally reserve mineral rights when selling timberlands acreage.
Energy and Natural Resources / retained mineral rights · Dépôt 13/02/2026
These decreases were partially offset by increases in acres sold and average price per acre sold for our Real Estate business, as well as increases in right-of-way easements and royalty income for our Natural Resources business.
Strategic Land Solutions / second-quarter 2026 results · Dépôt 31/07/2026
Comparing Year-to-Date 2026 with Year-to-Date 2025 Net sales Net sales increased $99 million – 40 percent – primarily due to a $94 million conservation easement sale in our Climate Solutions business, increases in acres sold and average price per acre sold for our Real Estate business, as well as increases in right-of-way easements, royalty income, and mineral asset sales for our Natural Resources business.
Strategic Land Solutions / first-half 2026 results · Dépôt 31/07/2026
In any period, the average price per acre will vary based on the location and physical characteristics of parcels sold.
Strategic Land Solutions / parcel-mix qualification · Dépôt 31/07/2026
Comparing Second Quarter 2026 with Second Quarter 2025 Net sales Net sales decreased $14 million – 9 percent – primarily due to decreases in acres sold and average price per acre sold for our Climate Solutions business, largely driven by a reduction in Conservation sales.
Strategic Land Solutions / conservation sales decline · Dépôt 31/07/2026
2025 2024 2024 Net sales $ 6,905 $ 7,124 $ (219 ) Costs of sales $ 5,880 $ 5,811 $ 69 Operating income $ 731 $ 685 $ 46 Net earnings $ 324 $ 396 $ (72 ) Basic and diluted earnings per share $ 0.45 $ 0.54 $ (0.09 ) COMPARING 2025 WITH 2024 Net Sales Net sales decreased $219 million — 3 percent — primarily due to a $264 million decrease in Wood Products net sales attributable to decreased sales realizations across most product lines, as well as an $18 million decrease in Timberlands net sales to unaffiliated customers attributable to decreased log sales realizations and volumes in the Western region.
MD&A / 2025 sales realizations · Dépôt 13/02/2026
Comparing Second Quarter 2026 with Second Quarter 2025 Net sales Net sales increased $3 million – less than 1 percent – primarily due to: • a $24 million increase in complementary building products sales primarily attributable to increased sales volumes and realizations for steel; • a $12 million increase in engineered solid section sales attributable to a 7 percent increase in sales volumes; • a $10 million increase in structural lumber sales attributable to a 12 percent increase in sales realizations, partially offset by a 9 percent decrease in sales volumes and • a $6 million increase in softwood plywood sales attributable to a 9 percent increase in sales realizations and a 4 percent increase in sales volumes.
Wood Products / second-quarter 2026 pricing and volumes · Dépôt 31/07/2026
These increases were partially offset by: • a $25 million decrease in oriented strand board sales attributable to a 14 percent decrease in sales realizations, partially offset by a 2 percent increase in sales volumes; • a $13 million decrease in other products produced sales, primarily attributable to a decrease in wood chip sales realizations and volumes; • a $6 million decrease in engineered I-joist sales attributable to a 5 percent decrease in sales volumes and a 2 percent decrease in sales realizations and • a $5 million decrease in medium density fiberboard sales attributable to a 13 percent decrease in sales volumes and a 4 percent decrease in sales realizations.
Wood Products / second-quarter 2026 pricing and volume declines · Dépôt 31/07/2026
2025 2024 2024 Net sales: Structural lumber $ 2,037 $ 1,906 $ 131 Oriented strand board 762 979 (217 ) Engineered solid section 649 708 (59 ) Engineered I-joists 343 390 (47 ) Softwood plywood 155 158 (3 ) Medium density fiberboard 135 159 (24 ) Complementary building products 565 615 (50 ) Other products produced (1) 311 306 5 Total segment net sales $ 4,957 $ 5,221 $ (264 ) Costs of sales $ 4,674 $ 4,516 $ 158 Operating income and Net contribution to earnings $ 55 $ 457 $ (402 ) (1) Other products produced sales include wood chips, other byproducts and third-party residual log sales from our Canadian Forestlands operations.
Wood Products / 2025 operating results · Dépôt 13/02/2026
2025 Net sales: Structural lumber $ 591 $ 581 $ 10 $ 1,069 $ 1,108 $ (39 ) Oriented strand board 180 205 (25 ) 347 433 (86 ) Engineered solid section 181 169 12 336 330 6 Engineered I-joists 89 95 (6 ) 161 183 (22 ) Softwood plywood 47 41 6 85 81 4 Medium density fiberboard 31 36 (5 ) 62 68 (6 ) Complementary building products 179 155 24 322 280 42 Other products produced(1) 62 75 (13 ) 142 161 (19 ) Total $ 1,360 $ 1,357 $ 3 $ 2,524 $ 2,644 $ (120 ) Costs of sales $ 1,223 $ 1,243 $ (20 ) $ 2,310 $ 2,357 $ (47 ) Operating income and Net contribution to earnings $ 71 $ 46 $ 25 $ 113 $ 152 $ (39 ) (1) Other products produced sales include wood chips, other byproducts and third-party residual log sales from our Canadian Forestlands operations.
Wood Products / quarter and first-half 2026 operating results · Dépôt 31/07/2026
Curtailments and some permanent closures in late 2025 and into 2026, fewer European lumber imports, leaner dealer inventories and tighter freight markets contributed to the price increases.
Market Conditions / drivers of lumber price increases · Dépôt 31/07/2026
3 WEYERHAEUSER COMPANY CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) YEAR-TO-DATE ENDED DOLLAR AMOUNTS IN MILLIONS JUNE 2026 JUNE 2025 Cash flows from operations: Net earnings $ 318 $ 170 Noncash charges (credits) to earnings: Depreciation, depletion and amortization 251 250 Basis of acres sold 54 57 Deferred income taxes, net (25 ) 4 Pension and other post-employment benefits (Note 6) 37 47 Share-based compensation expense (Note 12) 23 23 Gain on sale of timberlands (Note 15) (129 ) — Other 1 — Change in: Receivables, net (83 ) (66 ) Receivables and payables for taxes 14 (16 ) Inventories (14 ) (13 ) Prepaid expenses and other current assets 4 17 Accounts payable and accrued liabilities 17 39 Pension and post-employment benefit contributions and payments (9 ) (6 ) Other (8 ) (40 ) Net cash from operations 451 466 Cash flows from investing activities: Capital expenditures for property and equipment (220 ) (170 ) Capital expenditures for timberlands reforestation (31 ) (30 ) Proceeds from sale of timberlands (Note 15) 306 — Proceeds from lumber mill sale (Note 16) 22 — Other (3 ) (8 ) Net cash from investing activities 74 (208 ) Cash flows from financing activities: Cash dividends on common shares (303 ) (304 ) Net proceeds from issuance of long-term debt (Note 8) — 299 Net proceeds from issuance of commercial paper (Note 8) 331 — Payments on long-term debt (Note 8) (400 ) (210 ) Payments on commercial paper (Note 8) (81 ) — Repurchases of common shares (Note 4) (20 ) (125 ) Other (6 ) (10 ) Net cash from financing activities (479 ) (350 ) Net change in cash, cash equivalents and restricted cash 46 (92 ) Cash, cash equivalents and restricted cash at beginning of period 481 684 Cash, cash equivalents and restricted cash at end of period $ 527 $ 592 Cash paid during the period for: Interest, net of amount capitalized of $7 and $6 $ 133 $ 132 Income taxes, net of refunds $ 13 $ 40 See accompanying Notes to Consolidated Financial Statements.
Consolidated Statement of Cash Flows / first-half 2026 · Dépôt 31/07/2026
GAAP measure. Dollar Amounts in Millions 2025 Net cash from operations $562 Capital expenditures (474) Adjustments to FAD 309 Adjusted FAD $397 A-2 | Weyerhaeuser Company TABLE OF CONTENTS TABLE OF CONTENTS TABLE OF CONTENTS TABLE OF CONTENTS DEF 14A 0000106535 false 0000106535 2025-01-01 2025-12-31 0000106535 2024-01-01 2024-12-31 0000106535 2023-01-01 2023-12-31 0000106535 2022-01-01 2022-12-31 0000106535 2021-01-01 2021-12-31 0000106535 ecd:EqtyAwrdsInSummryCompstnTblForAplblYrMember ecd:PeoMember 2025-01-01 2025-12-31 0000106535 ecd:EqtyAwrdsInSummryCompstnTblForAplblYrMember ecd:NonPeoNeoMember 2025-01-01 2025-12-31 0000106535 ecd:EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember ecd:PeoMember 2025-01-01 2025-12-31 0000106535 ecd:EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember ecd:NonPeoNeoMember 2025-01-01 2025-12-31 0000106535 ecd:AggtChngPnsnValInSummryCompstnTblForAplblYrMember ecd:PeoMember 2025-01-01 2025-12-31 0000106535 ecd:AggtChngPnsnValInSummryCompstnTblForAplblYrMember ecd:NonPeoNeoMember 2025-01-01 2025-12-31 0000106535 ecd:AggtPnsnAdjsSvcCstMember ecd:PeoMember 2025-01-01 2025-12-31 0000106535 ecd:AggtPnsnAdjsSvcCstMember ecd:NonPeoNeoMember 2025-01-01 2025-12-31 0000106535 ecd:YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember ecd:PeoMember 2025-01-01 2025-12-31 0000106535 ecd:YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember ecd:NonPeoNeoMember 2025-01-01 2025-12-31 0000106535 ecd:ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember ecd:PeoMember 2025-01-01 2025-12-31 0000106535 ecd:ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember ecd:NonPeoNeoMember 2025-01-01 2025-12-31 0000106535 ecd:VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember ecd:PeoMember 2025-01-01 2025-12-31 0000106535 ecd:VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember ecd:NonPeoNeoMember 2025-01-01 2025-12-31 0000106535 ecd:ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember ecd:PeoMember 2025-01-01 2025-12-31 0000106535 ecd:ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember ecd:NonPeoNeoMember 2025-01-01 2025-12-31 0000106535 ecd:FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember ecd:PeoMember 2025-01-01 2025-12-31 0000106535 ecd:FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember ecd:NonPeoNeoMember 2025-01-01 2025-12-31 0000106535 ecd:PnsnAdjsSvcCstMember ecd:PeoMember 2025-01-01 2025-12-31 0000106535 ecd:PnsnAdjsSvcCstMember ecd:NonPeoNeoMember 2025-01-01 2025-12-31 0000106535 ecd:PnsnAdjsPrrSvcCstMember ecd:PeoMember 2025-01-01 2025-12-31 0000106535 ecd:PnsnAdjsPrrSvcCstMember ecd:NonPeoNeoMember 2025-01-01 2025-12-31 0000106535 2 2025-01-01 2025-12-31 0000106535 1 2025-01-01 2025-12-31 0000106535 3 2025-01-01 2025-12-31 iso4217:USD wy:PercentileRank
Appendix A / 2025 cash generation and capital expenditures · Dépôt 01/04/2026
Notably, in 2025, we meaningfully enhanced the quality and value of our timberlands portfolio, exceeded the multi-year growth target for our Climate Solutions business, captured $92 million in operational excellence improvements and returned $766 million in total cash to shareholders.
2025 Highlights / reported achievements and cash returns · Dépôt 01/04/2026
Our long-term incentive program comprises two types of awards: • PSU awards, which measure performance over a three-year performance period and are settled in shares of common stock • RSU awards, which vest ratably over a four-year period and are settled in shares of common stock Our long-term incentive awards effectively align the interests of our senior executives and our shareholders by rewarding stock price appreciation and cash returns to our shareholders.
Executive Compensation / long-term incentive structure · Dépôt 01/04/2026
Directors and executive officers are obligated to own shares of Weyerhaeuser common stock valued at least at five times the director’s cash compensation, at three times the executive officer’s annual base salary and at six times the CEO’s annual base salary.
Executive Compensation / stock ownership requirements · Dépôt 01/04/2026
Earned PSU shares vested on March 1, 2026.
Executive Compensation / earned PSU vesting · Dépôt 01/04/2026
Directors and officers are prohibited from hedging or pledging company stock
Compensation governance / hedging and pledging prohibition · Dépôt 01/04/2026
Our current board composition far exceeds this requirement, as ten of our eleven directors are independent, with the one exception being our chief executive officer.
Governance / board independence · Dépôt 13/02/2026
Our board chair and our chief executive officer are currently separate.
Governance / separated chair and CEO roles · Dépôt 13/02/2026
All of our directors stand for election annually, and we have a majority voting standard in uncontested elections.
Governance / annual elections and majority voting · Dépôt 13/02/2026
The board of directors has determined that these committees are comprised exclusively of independent directors and, in the case of the Audit Committee and Compensation Committee, include members who meet the enhanced independence requirements of the SEC and the NYSE for service on those committees.
Corporate Governance / committee independence · Dépôt 01/04/2026
Operating income Operating income increased $45 million – 25 percent – primarily due to a $71 million increase in gain on sale of timberlands, partially offset by a $14 million decrease in consolidated gross margin (see discussion of components above).
MD&A / operating income increase and timberland sale gain · Dépôt 31/07/2026
Some of our wood products, such as lumber, veneer, plywood and oriented strand board, are commodities and are subject to fluctuations in market pricing.
Risk Factors / commodity market pricing · Dépôt 13/02/2026
Changes in average realizations typically lag changes in industry benchmark pricing due to length of order files.
Pricing outlook footnote: order-file effects on average realizations · Dépôt 27/08/2026
