George Weston Limited (WNGRF)
Fair ValueFundamental
61
Price
$105.91
Market Cap
$41.39B
Part 1 · What the company is worth
Overview
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.
How it makes money
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.
Revenue by segment
Grocery stores, discount food stores, in-store and associate-owned pharmacies, and general merchandise across Canada. The core of consolidated revenue.
A real estate investment trust owning grocery-anchored retail and industrial properties, leased mainly to necessity-based tenants including Loblaw.
What drives demand
DefensiveConsolidated 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.
The case for
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.
The case against
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 August 18, 2026
Direct competitors
Who this company fights with for the same customers
No editorial profile for this company yet
No competitor list for this company yet.
Balance Sheet & Liquidity
Revenue
$65.24B
Trailing 12 months (through 6/30/2026)
Net Income
$1.04B
Trailing 12 months (through 6/30/2026)
Free Cash Flow
$5.76B
Total Equity
$3.71B
Total Liabilities
$19.86B
Current Ratio
1.04
Interest Coverage
-
Debt/EBITDA
2.89
Earnings Per Share
Revenue & Net Income
Free Cash Flow
Income Breakdown
Historical statement
Margins over time
Debt over time
How heavy the debt is
Growth grid
Growth — Revenue
Fair Value Estimation
Fair Value
$130.67
Current Price
$105.91
Margin of Safety
+18.9%
Fair Value Range
$84.94 - $176.41
Spread across the valuation methods used, not a statistically calibrated confidence interval.
Estimation Methods
Valuation Metrics
P/E Ratio
45.13
ROE
18.6%
P/B Ratio
11.16
P/FCF
7.18
Gross Margin
32.0%
ROIC
19.8%
Profitability Radar
Value Creation (Economic Moat)
ROIC
19.8%
WACC
5.4%
ROIC − WACC
+14.4 pp
ROIC exceeds the cost of capital — the company is creating value for shareholders.
Fundamental Analysis Criteria
Passed (9)
- Price CAGR 10.27%
- ROIC 19.8%
- Gross margin 32.0%
- P/FCF 7.18
- Positive free cash flow
- Current ratio
- Debt/EBITDA
- DCF valuation (Undervalued)
- Earnings quality (operating cash flow / net income) 6.59
Failed (8)
- P/B ratio 11.16
- Debt/equity ratio
- CapEx intensity
- ROE 4.3%
- Revenue growth 5Y 3.4%
- Earnings surprise, average -6.6%
- Net margin trend 1.7% vs 2.1%
- Piotroski F-Score 2/9
Unavailable (9)
- EPS data insufficient
- Dividend payout –
- Operating margin –
- Interest coverage
- Return on tangible assets
- Low reliance on intangibles
- Price below Graham Number
- PEG ratio (needs P/E > 0 and growth > 0)
- Share dilution (missing share count)
Piotroski F-Score
Serious financial concerns
Earnings Quality
High quality: earnings backed by cash
Share Dilution
Buying back shares. Shareholder friendly
Institutional Holdings
Governance
Executive Team
| Name | Title | Age |
|---|---|---|
| Mr. Galen G. Weston B.A., M.B.A. | Chairman & CEO | 52 |
| Mr. Richard Dufresne | President & CFO | - |
| Roy MacDonald | Group Vice President of Investor Relations | - |
| Mr. Andrew Bunston | Chief Legal Officer & Secretary | - |
| Anemona Turcu | Senior VP & Group Chief Risk Officer | - |
| Mr. Jeff Gobeil | Senior VP & Group Head of Tax | - |
| Mr. Barry Kieran Columb | Executive VP of Loblaw & President of President's Choice Financial | 60 |
| Ms. Katie McCullam | Chief Strategy Officer | - |
| Ms. Anna Filipopoulos | Chief Talent Officer | - |
| Ms. Lina Taglieri | Senior VP & Group Head Controller | 56 |
Audit Risk
9
Board Risk
8
Compensation Risk
4
Shareholder Rights Risk
8
Part 2 · The price and its context
This part shows how the price has behaved, not whether the company is worth owning. Inside: technical analysis, potential, historical drawdowns, gamma exposure.
Market Reaction Profile
How much WNGRF moves, measured on its daily prices.
More volatile than 10% of the tracked stocks (90-day volatility).
- Volatility 30d
- 25.7%
- Volatility 90d
- 21.0%
- Beta vs S&P 500 (1y)
- -0.34Correlation -0.21
- Max drawdown (12m)
- -9.3%
- ATR (14d, % of price)
- 2.21%
Earnings reactions
How WNGRF moved around its past quarterly results.
Next earnings release
Nov 17, 2026 · In 24 days · Before the open
EPS estimate: 1.39Revenue estimate: $20.1B
What usually happens
- Not enough releases with data yet: we have 0, we need at least 4.
Release dates from SEC 8-K filings.
Updated 10/24/2026
Historical statistics for educational purposes only. They are not forecasts and not investment advice.
Price reaction to the news
Latest news on WNGRF and what the price did next.
Return of the stock minus return of SPY over the same days. A news item close to a price move did not necessarily cause it. Historical data for educational purposes only, not investment advice.
Latest News
Recent headlines for WNGRF.