Abstract: There are about 45,000 forestry enterprises in China, but there are only 5 listed companies. It can be seen that forestry enterprises still have a large space for development. It is of great practical significance to explore the development capabilities of listed forestry enterprises. This paper selects three typical forestry listed companies as industry representatives. Based on their 2013-2017 financial data, this paper uses relevant financial indicators of development capabilities to evaluate the development capabilities of these forestry listed companies,combining the business operational and industrial macro analysis.The discussion reveals that the development capabilities of listed forestry companies are generally not satisfactory due to the problems in their business models and product structures, capital accumulation as well as business scales. The article proposes some countermeasures to improve the development capabilities of forestry listed companies, which can also be used as references for the development of enterprises in forestry industry in general.