George Weston Ltd WN

Morningstar Rating
CA$100.74 −0.47 (0.46%)
View Full Chart

Company Report

Despite a Portfolio Evolution, George Weston Fails to Amass a Competitive Edge

George Weston’s strategy is ultimately tethered to Loblaw (98% of revenue), its controlling retail subsidiary, which we do not view as competitively advantaged. Although the holding company also controls Choice Properties, a real estate investment trust that contributes just shy of 20% of EBIT, this property portfolio relies heavily on Loblaw, which accounts for nearly two-thirds of its revenue. Consequently, we view George Weston as a proxy for Loblaw, and its success depends on the retailer’s ability to defend its market standing.

Price vs Fair Value

WN is trading at a LOCK|?cX$VVT premium.
Price
CA$100.74
Fair Value
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Uncertainty
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1-Star Price
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5-Star Price
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Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Greater monetization of PC Optimum’s 18-million-plus members through high-margin retail media (estimated 70% operating margins) could lift Loblaw’s operating margin above our estimates.

Bears

Rising wage rates across Loblaw’s heavily unionized store and distribution network (about 81%) could outpace productivity gains, given the elevated fulfillment costs inherent in the digital channel.

News

Trading Information

Previous Close Price
CA$101.21
Day Range
CA$99.02–101.80
52-Week Range
CA$82.77–107.94
Bid/Ask
CA$100.40 / CA$100.95
Shares Outstanding
374.20M
Market Cap
CA$37.70B
Volume/Avg
208,919 / 256,125

Key Statistics

Price/Earnings (Normalized)
22.54
Price/Sales
0.59
Dividend Yield (Trailing)
1.23%
Dividend Yield (Forward)
1.28%
Dividend Payment Schedule
Jan, Apr, Jul, Oct
Total Yield
7.08%

Company Profile

Founded in 1882, George Weston Limited is a Canadian holding company operating through two core segments: Loblaw Companies and Choice Properties Real Estate Investment Trust. Generating over CAD 64 billion in fiscal 2025 revenue, the firm derives about 98% of its sales from Loblaw, Canada’s largest food and drug retailer. Even at just 2% of total sales, Choice Properties operates as one of Canada’s largest REITs. George Weston controls roughly 52% of Loblaw and 52% of Choice Properties.
Sector
Consumer Defensive
Industry
Grocery Stores
Stock Style Box
Large Value
Total Number of Employees
220,000

Competitors

Valuation

Metric
WN
KR
L
Price/Earnings (Normalized)
22.5412.2725.59
Price/Book Value
10.176.246.55
Price/Sales
0.590.251.14
Price/Cash Flow
6.484.8412.30
Price/Earnings
WN
KR
L

Financial Strength

Metric
WN
KR
L
Quick Ratio
0.190.270.18
Current Ratio
1.050.701.06
Interest Coverage
4.183.036.25
Quick Ratio
WN
KR
L

Profitability

Metric
WN
KR
L
Return on Assets (Normalized)
4.57%6.19%6.58%
Return on Equity (Normalized)
54.25%45.66%24.61%
Return on Invested Capital (Normalized)
9.06%11.69%11.09%
Return on Assets
WN
KR
L

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