Cavco Industries, Inc. vs WEST FRASER TIMBER CO. LTD., two Forest Products stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
In manufactured homes Cavco earns a steady 17.27% on equity at an 8.49% net margin, run debt-free. West Fraser Timber makes lumber and OSB, deeply cyclical products, and this stretch it is losing money through the downturn, trading at 0.94 times book, below the value of its own assets. Cavco, by contrast, trades at 4.41 times book, the market's vote for a business that earns through the cycle rather than swinging with commodity prices. Cavco generates positive free cash of 4.77% where West Fraser burns it. At $4.9B against $5.5B the two are similarly sized, but only Cavco is profitable right now while West Fraser waits out the lumber downturn.
Comparison updated 2026-07-11.
| Metric | CVCO | WFG |
|---|---|---|
| Price | $567.16 | $67.12 |
| Market cap | $4.5B | $5.3B |
| Sector | Forest Products | Forest Products |
| Stage | Mature | Mature |
| Implied growth (priced in) | +9.2% | — |
| P/E | 23.6 | — |
| P/B | 4.06 | 0.91 |
| P/S | 1.99 | 0.97 |
| EV/EBITDA | 16.9 | — |
| Revenue growth | +11.4% | -14.3% |
| Gross margin | 23.1% | — |
| Operating margin | 9.4% | -21.7% |
| Net margin | 8.5% | -17.1% |
| Return on equity | 17.3% | -16.0% |
| Return on assets | 12.8% | -12.3% |
| Return on invested capital | 16.0% | -16.0% |
| FCF yield | 5.2% | -5.9% |
| Debt / equity | 0.01 | 0.00 |
| Current ratio | 2.46 | 2.13 |
| Altman Z (solvency) | 9.32 | 2.78 |
| Piotroski F (quality) | 6 / 9 | 6 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.