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George Weston Ltd WN

Morningstar Rating
CAD 208.42 −0.07 (0.03%)
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Company Report

We View George Weston's Strategic Investments as Favorable but Not Enough to Warrant a Moat

As the majority shareholder of Canada’s largest retailer Loblaw and leading real estate investment trust Choice Properties, George Weston capitalizes on resilient consumer demand for groceries and pharmacy services, and benefits from synergies between the two operating subsidiaries. We view its financial performance as anchored by steady dividends from the retail and property arms, but we don’t think the firm has a durable competitive edge based on our no-moat rating on Loblaw, which makes up the bulk of revenue and profits for the holding company.

Price vs Fair Value

WN is trading at a 860% premium.
Price
CAD 208.42
Fair Value
CAD 941.00
Uncertainty
Low
1-Star Price
CAD 473.93
5-Star Price
CAD 877.00
Economic Moat
Ypks
Capital Allocation
Jcgfptl

Bulls Say, Bears Say

Bulls

Major subsidiary Loblaw is the largest retailer in Canada, which leverages an extensive retail footprint and strong banners to capture shopper demand across the country.

Bears

George Weston is susceptible to regulatory headwinds, labor disputes, and supply chain disruptions that could hamper the performance of its subsidiaries.

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News

Trading Information

Previous Close Price
CAD 208.49
Day Range
CAD 208.23210.44
52-Week Range
CAD 144.41210.44
Bid/Ask
CAD 204.00 / CAD 215.00
Market Cap
CAD 27.70 Bil
Volume/Avg
84,954 / 146,906

Key Statistics

Price/Earnings (Normalized)
19.21
Price/Sales
0.47
Dividend Yield (Trailing)
1.42%
Dividend Yield (Forward)
1.57%
Total Yield
8.01%

Company Profile

George Weston is a holding company that controls a 53% stake in retailer Loblaw and a 62% stake in Choice Properties, a real estate investment trust. Loblaw boasts the largest retail footprint across Canada with 2,500 food retail and pharmacy stores under banners such as Loblaw, No-Frills, Maxi, and Shoppers Drug Mart. Meanwhile, open-ended Choice Properties REIT owns and manages over 700 commercial and residential properties in Canada, generating roughly 60% of its gross rental revenue from its largest tenant Loblaw. Previously, George Weston sold its wholly owned bakery Weston Foods in 2022. The firm is controlled by the Weston family, which owns a 65% stake.
Sector
Consumer Defensive
Industry
Grocery Stores
Stock Style Box
Large Core
Total Number of Employees
221,000

Competitors

Valuation

Metric
WN
KR
MRU
Price/Earnings (Normalized)
19.2111.0618.47
Price/Book Value
4.943.032.62
Price/Sales
0.470.250.86
Price/Cash Flow
5.856.5511.95
Price/Earnings
WN
KR
MRU

Financial Strength

Metric
WN
KR
MRU
Quick Ratio
0.660.370.39
Current Ratio
1.260.861.12
Interest Coverage
3.677.788.69
Quick Ratio
WN
KR
MRU

Profitability

Metric
WN
KR
MRU
Return on Assets (Normalized)
5.39%6.44%7.26%
Return on Equity (Normalized)
44.01%28.12%14.83%
Return on Invested Capital (Normalized)
10.07%11.42%9.92%
Return on Assets
WN
KR
MRU
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