November 2026
Largest Paper & Forest Products Public Companies in Canada
Benchmark revenue and EBITDA valuation multiples for public comps like
West Fraser, Canfor, Cascades, Interfor and Mercer International.
 | West Fraser Timber is a softwood lumber company that also produces wood panels and pulp products. The company produces its wood products globally, with lumber mills in British Columbia, Alberta, Europe, and the Southeastern United States. Following its acquisition of Norbord in 2021, West Fraser is one of the largest oriented strand board producers in the world. | $66 | +7% | $5.2B | $5.5B | 1.0x | (8.7x) | ||
| Canfor is a softwood lumber company that also owns Canfor Pulp Products. It is active throughout North America and Europe, with lumber mills in British Columbia, Alberta, the Southeastern United States, and Sweden. It has two reportable segments: lumber and pulp and paper. The lumber segment includes Canfor's sawmilling and remanufacturing operations. The pulp and paper segment includes the kraft pulp, kraft paper, and bleached chemi-thermomechanical pulp businesses of Canfor Pulp. | $10 | +14% | $1.2B | $1.9B | 0.5x | (5.7x) | ||
| Cascades Inc is a paper and packaging company that produces, converts, and sells packaging and tissue products composed predominantly of recycled fibres. Its customer base includes food processing companies, the maintenance industry, accommodations and housing industry, micro-businesses, and boutiques. The products are marketed through brands such as Cascades Fresh, Cascades Protect, Cascades IMGN, Cascades PRO, and Cascades Fluff & Tuff, among others. The company is organized into three main business segments; Containerboard, Specialty Products (which constitutes packaging products), and Tissue Papers. A majority of its revenue is generated from the Containerboard segment. Geographically, the company derives maximum revenue from the United States and the rest from Canada. | $11 | +25% | $1.1B | $2.5B | 0.7x | 6.6x | ||
| Interfor Corp produces and sells lumber, timber, and other wood products. The company operates sawmills to convert timber into lumber, logs, wood chips, and other wood products for sale. The firm's products are Dimension Lumber, Engineered Wood Products, and Interfor Blue. It has a single operating segment, solid wood products. The majority of revenue is generated from the sale of lumber. Its geographic segments are the United States, Canada, Japan, China/Taiwan, and Other exports. The majority of revenue comes from the United States. | $9 | +42% | $597M | $1.2B | 0.6x | (8.1x) | ||
| Mercer International Inc is a forest products company with two reportable operating segments in pulp and solid wood. The pulp segment consists of the manufacture, sale, and distribution of pulp, electricity, and chemicals. The company has a geographical presence in the USA, Germany, China, and Other countries, where the maximum of revenue is generated from the China. The majority of the revenue is generated from the Pulp segment. | $0 | -85% | $18M | $1.6B | 0.9x | (6.8x) | ||
| Median | $10 | +14% | $1.1B | $1.9B | 0.7x | (6.8x) |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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