Munger Mode rating: 2 out of 5 — Sell. Our own rating from the research report below, on business quality first: moat durability and management, with price separating the top three.
We have spent our lives saying that when a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact. Weyerhaeuser is not a bad business — it is an average one, run better than most. But average is precisely the problem. You could hardly ask for a simpler business to understand. Weyerhaeuser, founded in 1900, owns or controls more than 10 million acres of American timberland — one of the largest private timberland estates in the world — plus long-term licenses on public forestland in Canada. Trees grow; the company cuts some of them down each year and sells the logs. It runs three segments: Timberlands (~$123M of Q2 2026 Adjusted EBITDA): growing and harvesting sawlogs and pulpwood in the Pacific Northwest, the U.S.
Recent filings analysed: 10-Q (2026-07-31), 8-K (2026-07-30), 8-K (2026-06-25), 8-K (2026-05-28).
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