Investment analyses for Timber Investments

Timber Finance is a leading investment analyst for Timber Investments and publishes business reports, index reports, market updates and white papers on a regular basis.

White Paper Listed timber equity investments are leaving their niche status and require further attention with regards to their technological, economic, financial and sustainability characteristics. The White Paper resulted from a collaboration between the Zurich University of Applied Sciences and Timber Finance. The study was co-funded by Built by Nature and the Migros Pioneer Fund and supported by the Liechtenstein Bankers Association. […]
1. Results Overview The third quarter results published by companies in the sector overall reaffirmed the current cyclical headwinds in the construction market and this continues to negatively affect timber and construction-related businesses in the short and medium term. Nordic markets, such as Sweden, are particularly weak in terms of construction activity. At the same […]
Author: S.C. Download the report as a PDF   1. Introduction to Forestry and Wood-Based Products Companies with vertically integrated operations starting with forestry and extending further into the value chain up to the production of secondary products and other wood-based products are somewhat special because they are large forest owners, have a direct impact […]
Executive Summary Builders FirstSource is a U.S. distributor of timber and other building products. The company has been growing aggressively through acquisitions over the last few years, following a strategy of consolidation in a fragmented industry. The report (PDF, 12 pages) covering Business Governance Investment Case is available for download here: Company Research – Builders […]
Executive Summary Louisiana Pacific (LPX) is a secondary products manufacturer focused on Sidings and OSB, based in the U.S. but with significant operations also in Canada and South America. The largest shareholder of LPX is Warren Buffett’s Berkshire Hathaway. The margins of the company’s sidings business have been remarkably stable over the last years, as […]
  The Q3 2023 rebalancing was characterized by a number of index components entering and exiting the index, in part due to market developments (trading activity, increased resp. decreased), in part due to the identification of new companies that were considered more suitable than some existing ones to be included based on a combination of […]
By Stefano Charrey, 6 October 2023   1. Executive Summary The Timber Finance Carbon & Storage Index was flat (-0.5%) in the first nine months of 2023, correcting -9.2% in Q3 as the European construction sector, and the economy overall, continued to struggle. Macroeconomic numbers for the US continue to be mixed, but the spike […]
By Stefano Charrey Download the report as a PDF   1. Introduction to Secondary Timber Products We define secondary products as wood products that have been processed to a higher value added compared to round wood and lumber, predominantly in the form of engineered wood products (EWP). Engineered wood products include the following categories:   […]
Executive Summary Western Forest Products is a Canadian timber company manufacturing commodity and specialty lumber. The company’s assets are predominantly located in British Columbia, on the Canadian West Coast, but Western recently acquired glue-laminated-timber (glulam) assets in the U.S. with the goal of seizing growth opportunities in the North American Mass Timber sector. The company […]
1. Results Overview The second quarter results published by companies in the timber sector highlighted the differing market dynamics between Europe and the United States. U.S. companies were characterised by a more positive and optimistic tone, compared to the rather negative tone of their European counterparts. Increasing interest rates are identified as a key cause […]


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