George Weston Limited (WN.TO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-9.8%

CA$98.94

vs CA$109.69 price

Levered DCF

CA$182.72

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

2.34

Grey zone

Rating

B-

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	33.22×	7.49×	5.08×	2.88×	4.2×	3.07×	6.41×	6.89×
P/B	6.9×	1.58×	1.13×	1.18×	1.05×	0.62×	0.69×	0.49×
P/S	0.56×	0.16×	0.13×	0.14×	0.14×	0.09×	0.11×	0.08×
EV / EBITDA	7.94×	4.04×	3.82×	3.77×	3.69×	4.49×	4.64×	4.33×
Gross margin	32.0%	33.0%	32.6%	32.5%	32.2%	31.1%	31.8%	31.4%
Operating margin	9.2%	7.1%	7.3%	8.0%	7.5%	5.4%	5.9%	5.3%
Net margin	1.8%	2.2%	2.6%	3.2%	0.8%	1.8%	0.5%	1.2%
Current ratio	1.1×	1.24×	1.24×	1.36×	1.46×	1.33×	1.18×	1.23×
Debt / equity	3.71×	3.56×	3.19×	3.02×	2.8×	2.67×	2.78×	2.11×
Interest coverage	6.68×	4.48×	4.62×	5.46×	4.9×	3.18×	3.15×	3.7×
Dividend yield	1.3%	4.5%	5.6%	5.1%	5.3%	7.7%	6.9%	7.2%
Payout ratio	42.6%	32.6%	27.6%	22.6%	89.6%	38.6%	150.0%	49.7%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	21.6%	21.8%	23.1%	26.5%	6.2%	12.3%	3.2%	7.1%
Return on invested capital	9.7%	7.6%	7.9%	8.5%	7.4%	5.4%	4.7%	4.2%
Return on assets	2.2%	2.6%	3.1%	3.7%	0.9%	2.0%	0.5%	1.3%
Free cash flow yield	8.9%	31.4%	39.9%	32.2%	43.8%	70.1%	43.7%	12.1%
Earnings yield	3.1%	13.8%	20.4%	22.5%	5.9%	19.8%	4.6%	14.5%
Enterprise value	CA$54.6B	CA$30B	CA$26.4B	CA$26.4B	CA$23.9B	CA$23.2B	CA$24.6B	CA$19.4B
Net debt / EBITDA	2.64×	2.72×	2.73×	2.62×	2.56×	3.55×	3.64×	3.44×
Cash conversion cycle (days)	0	22	26	27	25	24	30	27