WN (George Weston Ltd) vs S&P TSX Composite Index (Canada) Comparison

S&P TSX Composite Index (Canada)

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S&P TSX Composite Index (Canada)

Difference

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S&P TSX Composite Index (Canada)

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S&P TSX Composite Index (Canada)

ATD

3382

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George Weston Ltd
Glance View

Economic Moat

None

Market Cap

30B CAD

Industry

Retail

George Weston Limited, a stalwart of the Canadian business landscape, traces its roots back to the entrepreneurial spirit of its founder, George Weston, who established a bakery in Toronto in 1882. Over the decades, this humble bakery evolved into a diversified food processing and distribution empire, replete with a substantial retailing presence. Central to its operations is Weston Foods, which supplies quality baked goods across North America, serving both consumer markets and foodservice providers. With innovative product development and a focus on efficiency, Weston Foods has carved out a significant share in the baking industry, allowing George Weston Ltd. to secure steady revenue streams. Parallelly, George Weston Limited is the majority shareholder of Loblaw Companies Limited, Canada’s largest food retailer. Loblaw encompasses a vast network of retail outlets, including supermarkets, pharmacies, and financial service businesses that cater to millions of consumers. This positioning bolsters George Weston Ltd.'s revenue through a combination of retail sales, real estate interests via Choice Properties REIT, and consumer goods. By aligning its food production capabilities with retail distribution, George Weston Ltd. creates a seamless value chain from manufacturing to the consumer's shopping basket, optimizing margins and driving profitability. Through these integrated activities, the company maintains a robust financial footing while adapting to changing market dynamics and consumer preferences.

View WN Analysis

WN Intrinsic Value

What is Intrinsic Value?

Economic Moat is a concept popularized by Warren Buffett to describe a company's durable competitive advantage. It represents the 'moat' that protects a company from competitors and helps it sustain profitability over the long term. Our analysis of the past 10 years showed that companies with a wide economic moat significantly outperformed the market, delivering +645% returns compared to +189% for the S&P 500.

Our research into Economic Moat performance spans the past 10 years and focuses on companies with a wide economic moat. For this analysis, we calculated the average stock price returns of these companies, comparing them to the performance of the S&P 500 index over the same period.

The results were compelling: wide moat stocks achieved a remarkable +645% average return, compared to +188% for the broader market. This difference highlights the long-term benefits of investing in businesses that can maintain their market position and pricing power over time.

Note: This research does not account for survivorship bias. Past performance is not indicative of future results.

Determining whether a company has an economic moat requires both a deep dive into financial metrics and a qualitative assessment of its competitive position. Our analysts conduct a rigorous evaluation that focuses on identifying structural advantages that enable a company to sustain profitability and defend its market share over the long term.

The process begins with an analysis of a company’s historical financial performance. We assess how consistently the company has generated returns above its cost of capital and whether those returns have been stable or improving. However, financial performance alone doesn’t reveal the full picture. To understand the sources of these advantages, we evaluate five key drivers of economic moats:

Network Effect: We analyze whether the value of a company’s product or service grows as its user base expands. Platforms like payment systems or marketplaces benefit from this self-reinforcing.

Switching Costs: We assess whether customers face significant costs or disruptions when switching to a competitor’s product or service. High switching costs create customer stickiness and provide pricing power.

Intangible Assets: Strong brands, patents, and regulatory licenses can protect a company’s market position by creating barriers for competitors or enabling premium pricing. For example, a well-recognized consumer brand may command higher customer loyalty and margins.

Efficient scale: Occurs when a market is optimally served by one or a few players, making it unprofitable for new entrants to compete. This typically happens in industries with high fixed costs or geographic constraints, such as utilities or pipelines.

Cost Advantage: Companies with structural cost advantages can produce goods or services at a lower cost than their competitors, enabling them to offer competitive pricing or maintain higher margins. These advantages often arise from economies of scale, superior supply chain management, or proprietary technology. Firms like Walmart leverage their massive scale to negotiate better terms with suppliers, allowing them to undercut competitors on price.

By examining these factors in combination with a company’s financial performance and market positioning, we classify each company into one of three categories:

This rigorous evaluation ensures that our moat ratings are both comprehensive and reliable, giving investors the tools they need to make well-informed, long-term decisions.

ZA	S	Shoprite Holdings Ltd JSE:SHP	Add
CA		Alimentation Couche-Tard Inc TSX:ATD	Add
US		Kroger Co NYSE:KR	Add
CA		Loblaw Companies Ltd TSX:L	Add
JP		Seven & i Holdings Co Ltd TSE:3382	Add
ZA	P	Pick N Pay Stores Ltd JSE:PIK	Add
NL		Koninklijke Ahold Delhaize NV AEX:AD	Add
UK		Tesco PLC LSE:TSCO	Add
IN		Avenue Supermarts Ltd NSE:DMART	Add
AU		Woolworths Group Ltd ASX:WOW	Add

ZA	S	Shoprite Holdings Ltd JSE:SHP	Select
CA		Alimentation Couche-Tard Inc TSX:ATD	Select
US		Kroger Co NYSE:KR	Select
CA		Loblaw Companies Ltd TSX:L	Select
JP		Seven & i Holdings Co Ltd TSE:3382	Select
ZA	P	Pick N Pay Stores Ltd JSE:PIK	Select
NL		Koninklijke Ahold Delhaize NV AEX:AD	Select
UK		Tesco PLC LSE:TSCO	Select
IN		Avenue Supermarts Ltd NSE:DMART	Select
AU		Woolworths Group Ltd ASX:WOW	Select

ZA	S	Shoprite Holdings Ltd JSE:SHP	Add
CA		Alimentation Couche-Tard Inc TSX:ATD	Add
US		Kroger Co NYSE:KR	Add
CA		Loblaw Companies Ltd TSX:L	Add
JP		Seven & i Holdings Co Ltd TSE:3382	Add
ZA	P	Pick N Pay Stores Ltd JSE:PIK	Add
NL		Koninklijke Ahold Delhaize NV AEX:AD	Add
UK		Tesco PLC LSE:TSCO	Add
IN		Avenue Supermarts Ltd NSE:DMART	Add
AU		Woolworths Group Ltd ASX:WOW	Add

US	G	GE Vernova LLC NYSE:GEV	Add
NL	N	Nepi Rockcastle NV JSE:NRP	Add
US		Schlumberger NV NYSE:SLB	Add
US	B	Baker Hughes Co NASDAQ:BKR	Add
ID		Amman Mineral Internasional Tbk PT IDX:AMMN	Add
US	R	Reddit Inc NYSE:RDDT	Add
CH	G	Galderma Group AG SIX:GALD	Add
US		Halliburton Co NYSE:HAL	Add
LU		Tenaris SA MIL:TEN	Add
IN		Jio Financial Services Ltd NSE:JIOFIN	Add

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WN

vs

S&P TSX Composite Index (Canada)

Stocks Performance
WN vs S&P TSX Composite Index (Canada)

Performance Gap
WN vs S&P TSX Composite Index (Canada)

Performance By Year
WN vs S&P TSX Composite Index (Canada)

Competitors Performance
George Weston Ltd vs Peers

George Weston Ltd
Glance View

Company

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WN vs S&P TSX Composite Index (Canada)

Stocks Performance WN vs S&P TSX Composite Index (Canada)

Performance Gap WN vs S&P TSX Composite Index (Canada)

Performance By Year WN vs S&P TSX Composite Index (Canada)

Competitors Performance George Weston Ltd vs Peers

George Weston Ltd Glance View

Company

Help

Tools

Stocks

WN

vs

S&P TSX Composite Index (Canada)

Stocks Performance
WN vs S&P TSX Composite Index (Canada)

Performance Gap
WN vs S&P TSX Composite Index (Canada)

Performance By Year
WN vs S&P TSX Composite Index (Canada)

Competitors Performance
George Weston Ltd vs Peers

George Weston Ltd
Glance View