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George Weston Limited (WNGRF)

NEUTRAL
Consumer DefensiveGrocery StoresCanada

Fondamental

62

Prix

$98.24

Capitalisation boursière

$36.77B

Partie 1 · Ce que vaut l'entreprise

Vue d'ensemble

George Weston Limited does not sell anything itself: it is a Canadian holding company controlling roughly half of Loblaw, the country's largest grocery and pharmacy retailer, and roughly half of Choice Properties, a real estate trust that owns and leases commercial and residential property. The Weston family controls the group. What George Weston reports as its own results is really the consolidated performance of these two separately listed, majority-owned companies.

Comment l'entreprise gagne de l'argent

Almost all consolidated revenue is Loblaw's: customers paying for groceries, pharmacy items and general merchandise at checkout, day after day, at thin retail margins run on very large volume. Choice Properties contributes a much smaller stream of rental income from long-term leases, much of it paid by Loblaw itself as a tenant, which is why the two segments do not simply add up to the consolidated total once intercompany rent is eliminated.

Chiffre d'affaires par segment

Loblaw99.06%

Grocery stores, discount food stores, in-store and associate-owned pharmacies, and general merchandise across Canada. The core of consolidated revenue.

Choice Properties2.19%

A real estate investment trust owning grocery-anchored retail and industrial properties, leased mainly to necessity-based tenants including Loblaw.

Ce qui stimule la demande

Défensif

Consolidated results are dominated by Loblaw's grocery and pharmacy sales, which people keep buying regardless of the economic cycle. Choice Properties adds a real-estate layer whose rental income is contractually locked in for years at a time. Neither business is immune to inflation or consumer belt-tightening on discretionary items, but food and medicine are the least discretionary categories a retailer can sell.

Les arguments en faveur

Buyers argue that owning controlling stakes in Canada's largest grocer and a real estate trust anchored by that same grocer gives George Weston a defensive, cash-generative combination, with Loblaw's scale in food retail acting as a moat that smaller regional chains cannot easily challenge.

Les arguments contre

Sellers fear that George Weston's results are almost entirely a pass-through of Loblaw's own performance, so a holding-company investor gets little diversification beyond what buying Loblaw shares directly would already provide, while still carrying a holding-company discount.

Written by the editors, published on 18 août 2026

Direct competitors

Who this company fights with for the same customers

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Bilan & Liquidités

Chiffre d'affaires

$65.24B

12 derniers mois (au 30/06/2026)

Résultat net

$1.04B

12 derniers mois (au 30/06/2026)

Flux de trésorerie libre

$5.76B

Capitaux propres totaux

$3.71B

Passif total

$19.86B

Ratio de liquidité général

1.04

Couverture des intérêts

-

Dette/EBITDA

2.89

Bénéfice par action

Chiffre d'affaires & Résultat net

Flux de trésorerie libre

Décomposition du résultat

État historique

Marges dans le temps

La dette dans le temps

Le poids de la dette

Grille de la croissance

Croissance — Chiffre d'affaires

Estimation de la juste valeur

Sous-évalué

Juste valeur

$131.45

Prix actuel

$98.24

Marge de sécurité

+25.3%

Fourchette de juste valeur

$85.45 - $177.46

Méthodes d'estimation

Analyst Target:$111.43
DCF:$278.80
PE-based:$47.99
Graham Growth:$17.80
EPV:$133.59
Consensus des analystes:Achat fort (13B / 2H / 0S)
Dernière surprise sur les résultats:-10.50%

Indicateurs de valorisation

Ratio P/E

41.29

ROE

18.6%

Ratio P/B

9.92

P/FCF

6.38

Marge brute

32.0%

ROIC

19.8%

Radar de rentabilité

Value Creation (Economic Moat)

ROIC

19.8%

WACC

5.2%

ROIC − WACC

+14.5 pp

ROIC exceeds the cost of capital — the company is creating value for shareholders.

Critères d'analyse fondamentale

Réussi (10)

  • Price CAGR 9.90%
  • ROIC 19.8%
  • Gross Margin 32.0%
  • P/FCF 6.38
  • Positive Free Cash Flow
  • Current Ratio
  • Debt/EBITDA
  • DCF valuation (Undervalued)
  • Analyst Consensus 87% Buy
  • Earnings Quality (OCF/NI) 6.59

Échoué (8)

  • P/B Ratio 9.92
  • Debt/Equity ratio
  • CapEx intensity
  • ROE 4.3%
  • Revenue Growth 5Y 3.4%
  • Earnings Surprise avg -6.6%
  • Net Margin Trend 1.7% vs 2.1%
  • Piotroski F-Score 2/9

Indisponible (9)

  • EPS data insufficient
  • Dividend Payout NaN%
  • Operating Margin NaN%
  • Interest Coverage
  • Return on Tangible Assets
  • Low reliance on intangibles
  • Price below Graham Number
  • PEG Ratio (need PE > 0 and growth > 0)
  • Share Dilution (missing shares data)

Score F de Piotroski

2/9

Préoccupations financières sérieuses

score
criteria

Qualité des bénéfices

6.59

Qualité élevée : bénéfices soutenus par la trésorerie

Dilution du capital

-

Rachat d'actions. Favorable aux actionnaires

Gouvernance

Équipe dirigeante

NomTitreÂge
Mr. Galen G. Weston B.A., M.B.A.Chairman & CEO52
Mr. Richard DufresnePresident & CFO-
Roy MacDonaldGroup Vice President of Investor Relations-
Mr. Andrew BunstonChief Legal Officer & Secretary-
Anemona TurcuSenior VP & Group Chief Risk Officer-
Mr. Jeff GobeilSenior VP & Group Head of Tax-
Mr. Barry Kieran ColumbExecutive VP of Loblaw & President of President's Choice Financial60
Ms. Katie McCullamChief Strategy Officer-
Ms. Anna FilipopoulosChief Talent Officer-
Ms. Lina TaglieriSenior VP & Group Head Controller56

Risque d'audit

9

Risque du conseil

9

Risque de rémunération

4

Risque droits des actionnaires

8

Partie 2 · Le prix et le moment d'entrer

Cette partie ne dit pas si l'entreprise vaut la peine : elle aide à choisir quand l'acheter, une fois que les fondamentaux vous ont convaincu. À l'intérieur : analyse technique, potentiel, baisses historiques, exposition gamma.

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