WYNYSEReal Estate Investment TrustsUS GAAP · USD

Weyerhaeuser Company

Weyerhaeuser is a U.S.-based timberland and wood products company organized as a real estate investment trust. Its business spans ownership and management of timberlands, harvesting and selling logs, and manufacturing lumber, oriented strand board, engineered wood products, and related building materials.

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Revenue6,905m USD
−3.1 %y/y
Operating profit (EBIT)731m USD
+6.7 %y/y
EBIT margin10.6%
+1.0 ppy/y
Net income324m USD
−18.2 %y/y
Free cash flow562m USD
−44.2 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

0.02.55.07.510.012.5bn USD2020: 7.5 bn USD2020: EBIT 1.7 bn USD20202021: 10.2 bn USD2021: EBIT 3.6 bn USD20212022: 10.2 bn USD2022: EBIT 3.1 bn USD20222023: 7.7 bn USD2023: EBIT 1.2 bn USD20232024: 7.1 bn USD2024: EBIT 0.69 bn USD20242025: 6.9 bn USD2025: EBIT 0.73 bn USD20256.90.73
RevenueOperating profit (EBIT)
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Business

Share of revenue
Timberlands35 %

Ownership, management, and harvesting of timberlands, including log sales and stumpage.

Wood Products55 %

Manufacture and sale of lumber, panels, and engineered wood products for construction.

Real Estate & ENR8 %

Sales of rural and development properties, plus energy and natural resources activities.

Distribution and Other2 %

Purchased-for-resale building products and other ancillary forest-related revenue.

Customers

Weyerhaeuser sells to homebuilders, lumber yards, distributors, and other building-products customers that use its wood products in residential and light commercial construction. Its timberlands business also sells logs and stumpage to third-party mills and harvest operators, while real estate and natural resources customers buy land, lease rights, or related assets.

Residential construction supply chain

Homebuilders, dealers, and distributors buy lumber, OSB, plywood, and engineered wood for framing and sheathing.

Timber and log customers

Third-party mills and log buyers purchase delivered logs and stumpage from timberlands operations.

Distribution customers

Retail and wholesale customers buy purchased-for-resale building products through the distribution business.

Real estate and land users

Buyers of rural land, development parcels, recreational leases, and natural resource rights.

Strategy

Weyerhaeuser’s strategy centers on managing timberland assets, optimizing harvest and log sales, and investing in wood products capacity tied to housing demand. It also uses capital allocation across timberlands, manufacturing, and real estate to support long-lived forest assets and higher-value wood product offerings.

Expand engineered wood products capacityMedium term

Higher-value structural products can deepen exposure to housing and improve product mix.

Optimize timberland and log portfolioLong term

Timberlands provide recurring harvest, stumpage, and land-value optionality.

Balance capital between operations and land assetsShort term

Capital discipline supports asset productivity and portfolio flexibility.

Geography

Weyerhaeuser is primarily a U.S. business, with timberlands and manufacturing assets concentrated across the West, South, and North regions. Its exposure is tied to North American housing, regional log markets, and U.S. trade policy, while some disclosures note sensitivity to Asia-linked demand and currency effects through broader market conditions.

Risks

The company is exposed to housing-cycle demand, lumber and panel price volatility, and regional log market swings because much of its revenue depends on construction activity and forest-product pricing. It also faces weather, wildfire, pest, transportation, trade-policy, and manufacturing-disruption risks that can affect harvest volumes, plant uptime, and delivered costs.

Sorted by severity
Housing market cyclicalityHigh

Wood products demand is tied to U.S. housing construction and repair/remodel activity.

ExposureLumberOSBPlywoodEngineered wood products
Wildfire and natural catastrophe exposureHigh

Large timberland holdings are vulnerable to fires, windstorms, floods, and pests.

Exposure: Timberlands and harvestable inventory

Trade policy and tariff disruptionMedium

Imports, exports, and pricing can be affected by U.S. trade actions and countermeasures.

Exposure: Wood products and log markets

Manufacturing and maintenance downtimeMedium

Plant performance and capital requirements influence production volumes and costs.

Exposure: Wood products mills and engineered wood facilities

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Accounting

Judgemental items
Timber depletion and harvest accounting

Harvest timing and depletion rates affect cost recognition and segment margins.

Impact: Timberlands earnings and inventory carrying values

Basis of real estate sold

Land sales can create gains or losses depending on carrying basis and transaction mix.

Impact: Real Estate & ENR segment results

Non-GAAP Adjusted EBITDA and Adjusted FAD

These measures exclude depreciation, depletion, capex, and special items, changing comparability to GAAP.

Impact: Liquidity and operating performance analysis

Seasonality in harvest and manufacturing

Quarterly volumes and margins can vary with weather, log supply, and construction demand.

Impact: Quarter-to-quarter comparability

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Last updated: 11/08/2026