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RAYONIER INC (RYN) Stock Fundamental Analysis

NYSE:RYN - New York Stock Exchange, Inc. - US7549071030 - REIT - Currency: USD

26.29  +0.28 (+1.08%)

After market: 26.29 0 (0%)

Fundamental Rating

5

RYN gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 28 industry peers in the Specialized REITs industry. RYN has only an average score on both its financial health and profitability. While showing a medium growth rate, RYN is valued expensive at the moment.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

In the past year RYN was profitable.
In the past year RYN had a positive cash flow from operations.
In the past 5 years RYN has always been profitable.
RYN had a positive operating cash flow in each of the past 5 years.
RYN Yearly Net Income VS EBIT VS OCF VS FCFRYN Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 100M -100M 200M -200M 300M

1.2 Ratios

Looking at the Return On Assets, with a value of 4.57%, RYN is in the better half of the industry, outperforming 75.00% of the companies in the same industry.
RYN has a better Return On Equity (8.89%) than 67.86% of its industry peers.
RYN has a Return On Invested Capital of 4.91%. This is in the better half of the industry: RYN outperforms 60.71% of its industry peers.
The Average Return On Invested Capital over the past 3 years for RYN is in line with the industry average of 5.22%.
The last Return On Invested Capital (4.91%) for RYN is above the 3 year average (4.73%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 4.57%
ROE 8.89%
ROIC 4.91%
ROA(3y)3.93%
ROA(5y)2.97%
ROE(3y)7.89%
ROE(5y)6.06%
ROIC(3y)4.73%
ROIC(5y)3.9%
RYN Yearly ROA, ROE, ROICRYN Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 5 10 15

1.3 Margins

RYN has a Profit Margin of 15.83%. This is comparable to the rest of the industry: RYN outperforms 50.00% of its industry peers.
In the last couple of years the Profit Margin of RYN has grown nicely.
RYN's Operating Margin of 20.69% is on the low side compared to the rest of the industry. RYN is outperformed by 71.43% of its industry peers.
RYN's Operating Margin has been stable in the last couple of years.
RYN has a Gross Margin of 28.45%. This is in the lower half of the industry: RYN underperforms 78.57% of its industry peers.
RYN's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 20.69%
PM (TTM) 15.83%
GM 28.45%
OM growth 3Y23.16%
OM growth 5Y0.08%
PM growth 3Y56.07%
PM growth 5Y5.56%
GM growth 3Y17.72%
GM growth 5Y1.51%
RYN Yearly Profit, Operating, Gross MarginsRYN Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 10 20 30

6

2. Health

2.1 Basic Checks

RYN has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
RYN has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, RYN has more shares outstanding
Compared to 1 year ago, RYN has an improved debt to assets ratio.
RYN Yearly Shares OutstandingRYN Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M
RYN Yearly Total Debt VS Total AssetsRYN Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 1B 2B 3B

2.2 Solvency

An Altman-Z score of 2.01 indicates that RYN is not a great score, but indicates only limited risk for bankruptcy at the moment.
RYN has a better Altman-Z score (2.01) than 85.71% of its industry peers.
The Debt to FCF ratio of RYN is 7.34, which is on the high side as it means it would take RYN, 7.34 years of fcf income to pay off all of its debts.
RYN has a Debt to FCF ratio of 7.34. This is amongst the best in the industry. RYN outperforms 85.71% of its industry peers.
A Debt/Equity ratio of 0.72 indicates that RYN is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.72, RYN belongs to the top of the industry, outperforming 85.71% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.72
Debt/FCF 7.34
Altman-Z 2.01
ROIC/WACC1.33
WACC3.7%
RYN Yearly LT Debt VS Equity VS FCFRYN Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 500M 1B 1.5B

2.3 Liquidity

RYN has a Current Ratio of 1.99. This is a normal value and indicates that RYN is financially healthy and should not expect problems in meeting its short term obligations.
Looking at the Current ratio, with a value of 1.99, RYN belongs to the top of the industry, outperforming 89.29% of the companies in the same industry.
A Quick Ratio of 1.85 indicates that RYN should not have too much problems paying its short term obligations.
Looking at the Quick ratio, with a value of 1.85, RYN belongs to the top of the industry, outperforming 92.86% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.99
Quick Ratio 1.85
RYN Yearly Current Assets VS Current LiabilitesRYN Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 100M 200M 300M 400M

5

3. Growth

3.1 Past

The Earnings Per Share has grown by an nice 20.00% over the past year.
RYN shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -14.55% yearly.
The Revenue has grown by 20.26% in the past year. This is a very strong growth!
The Revenue has been growing slightly by 5.31% on average over the past years.
EPS 1Y (TTM)20%
EPS 3Y12.92%
EPS 5Y-14.55%
EPS Q2Q%-7.69%
Revenue 1Y (TTM)20.26%
Revenue growth 3Y7.15%
Revenue growth 5Y5.31%
Sales Q2Q%-3.27%

3.2 Future

Based on estimates for the next years, RYN will show a quite strong growth in Earnings Per Share. The EPS will grow by 17.25% on average per year.
Based on estimates for the next years, RYN will show a small growth in Revenue. The Revenue will grow by 2.75% on average per year.
EPS Next Y5.91%
EPS Next 2Y22.51%
EPS Next 3Y22.17%
EPS Next 5Y17.25%
Revenue Next Year3.68%
Revenue Next 2Y-2.56%
Revenue Next 3Y-0.12%
Revenue Next 5Y2.75%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
RYN Yearly Revenue VS EstimatesRYN Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 200M 400M 600M 800M 1B
RYN Yearly EPS VS EstimatesRYN Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 0.2 0.4 0.6 0.8 1

3

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 73.03, RYN can be considered very expensive at the moment.
Based on the Price/Earnings ratio, RYN is valued a bit more expensive than the industry average as 67.86% of the companies are valued more cheaply.
RYN is valuated expensively when we compare the Price/Earnings ratio to 28.51, which is the current average of the S&P500 Index.
A Price/Forward Earnings ratio of 48.65 indicates a quite expensive valuation of RYN.
RYN's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. RYN is more expensive than 60.71% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 93.88, RYN is valued a bit cheaper.
Industry RankSector Rank
PE 73.03
Fwd PE 48.65
RYN Price Earnings VS Forward Price EarningsRYN Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, RYN is valued a bit cheaper than 75.00% of the companies in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of RYN indicates a somewhat cheap valuation: RYN is cheaper than 67.86% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 22
EV/EBITDA 14.26
RYN Per share dataRYN EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8 10

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
The decent profitability rating of RYN may justify a higher PE ratio.
A more expensive valuation may be justified as RYN's earnings are expected to grow with 22.17% in the coming years.
PEG (NY)12.36
PEG (5Y)N/A
EPS Next 2Y22.51%
EPS Next 3Y22.17%

5

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 4.34%, RYN is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 4.83, RYN has a dividend in line with its industry peers.
RYN's Dividend Yield is rather good when compared to the S&P500 average which is at 2.27.
Industry RankSector Rank
Dividend Yield 4.34%

5.2 History

The dividend of RYN has a limited annual growth rate of 1.68%.
RYN has paid a dividend for at least 10 years, which is a reliable track record.
The dividend of RYN decreased in the last 3 years.
Dividend Growth(5Y)1.68%
Div Incr Years1
Div Non Decr Years2
RYN Yearly Dividends per shareRYN Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1 2 3

5.3 Sustainability

RYN pays out 126.14% of its income as dividend. This is not a sustainable payout ratio.
The dividend of RYN is growing, but earnings are growing more, so the dividend growth is sustainable.
DP126.14%
EPS Next 2Y22.51%
EPS Next 3Y22.17%
RYN Yearly Income VS Free CF VS DividendRYN Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 100M -100M 200M -200M
RYN Dividend Payout.RYN Dividend Payout, showing the Payout Ratio.RYN Dividend Payout.PayoutRetained Earnings

RAYONIER INC

NYSE:RYN (1/30/2025, 7:00:00 PM)

After market: 26.29 0 (0%)

26.29

+0.28 (+1.08%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)11-06 2024-11-06/amc
Earnings (Next)02-05 2025-02-05/amc
Inst Owners93.05%
Inst Owner Change-0.06%
Ins Owners0.4%
Ins Owner Change-1.68%
Market Cap3.92B
Analysts70
Price Target34.07 (29.59%)
Short Float %2.78%
Short Ratio5.38
Dividend
Industry RankSector Rank
Dividend Yield 4.34%
Yearly Dividend1.15
Dividend Growth(5Y)1.68%
DP126.14%
Div Incr Years1
Div Non Decr Years2
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-46.73%
Min EPS beat(2)-85.57%
Max EPS beat(2)-7.9%
EPS beat(4)2
Avg EPS beat(4)-16%
Min EPS beat(4)-85.57%
Max EPS beat(4)20.74%
EPS beat(8)3
Avg EPS beat(8)-24.22%
EPS beat(12)7
Avg EPS beat(12)22.07%
EPS beat(16)10
Avg EPS beat(16)57.91%
Revenue beat(2)0
Avg Revenue beat(2)-14.85%
Min Revenue beat(2)-21.26%
Max Revenue beat(2)-8.44%
Revenue beat(4)0
Avg Revenue beat(4)-11.68%
Min Revenue beat(4)-21.26%
Max Revenue beat(4)-2.95%
Revenue beat(8)1
Avg Revenue beat(8)-7.16%
Revenue beat(12)3
Avg Revenue beat(12)-2.94%
Revenue beat(16)6
Avg Revenue beat(16)3.31%
PT rev (1m)-1.18%
PT rev (3m)-0.6%
EPS NQ rev (1m)0%
EPS NQ rev (3m)32.33%
EPS NY rev (1m)0%
EPS NY rev (3m)4.14%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-1.79%
Revenue NY rev (1m)0%
Revenue NY rev (3m)5.24%
Valuation
Industry RankSector Rank
PE 73.03
Fwd PE 48.65
P/S 3.9
P/FCF 22
P/OCF 14.88
P/B 2.19
P/tB 2.19
EV/EBITDA 14.26
EPS(TTM)0.36
EY1.37%
EPS(NY)0.54
Fwd EY2.06%
FCF(TTM)1.19
FCFY4.54%
OCF(TTM)1.77
OCFY6.72%
SpS6.74
BVpS11.99
TBVpS11.99
PEG (NY)12.36
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 4.57%
ROE 8.89%
ROCE 6.22%
ROIC 4.91%
ROICexc 5.02%
ROICexgc 5.02%
OM 20.69%
PM (TTM) 15.83%
GM 28.45%
FCFM 17.73%
ROA(3y)3.93%
ROA(5y)2.97%
ROE(3y)7.89%
ROE(5y)6.06%
ROIC(3y)4.73%
ROIC(5y)3.9%
ROICexc(3y)5.11%
ROICexc(5y)4.15%
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)5.99%
ROCE(5y)4.93%
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3Y35.26%
ROICexc growth 5Y0.24%
OM growth 3Y23.16%
OM growth 5Y0.08%
PM growth 3Y56.07%
PM growth 5Y5.56%
GM growth 3Y17.72%
GM growth 5Y1.51%
F-Score7
Asset Turnover0.29
Health
Industry RankSector Rank
Debt/Equity 0.72
Debt/FCF 7.34
Debt/EBITDA 3.59
Cap/Depr 56.57%
Cap/Sales 8.48%
Interest Coverage 4.94
Cash Conversion 73.46%
Profit Quality 112%
Current Ratio 1.99
Quick Ratio 1.85
Altman-Z 2.01
F-Score7
WACC3.7%
ROIC/WACC1.33
Cap/Depr(3y)195.38%
Cap/Depr(5y)160.47%
Cap/Sales(3y)30.23%
Cap/Sales(5y)26.06%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)20%
EPS 3Y12.92%
EPS 5Y-14.55%
EPS Q2Q%-7.69%
EPS Next Y5.91%
EPS Next 2Y22.51%
EPS Next 3Y22.17%
EPS Next 5Y17.25%
Revenue 1Y (TTM)20.26%
Revenue growth 3Y7.15%
Revenue growth 5Y5.31%
Sales Q2Q%-3.27%
Revenue Next Year3.68%
Revenue Next 2Y-2.56%
Revenue Next 3Y-0.12%
Revenue Next 5Y2.75%
EBIT growth 1Y77.06%
EBIT growth 3Y31.97%
EBIT growth 5Y5.39%
EBIT Next Year170.98%
EBIT Next 3Y46.23%
EBIT Next 5Y29.03%
FCF growth 1Y252.94%
FCF growth 3Y21.54%
FCF growth 5Y1.3%
OCF growth 1Y2.2%
OCF growth 3Y13.48%
OCF growth 5Y-0.77%