Rayonier Financials
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Rayonier has an operating margin of 36.9%, meaning the company retains $37 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is up from 23.4% the prior year.
Rayonier's revenue surged 25.3% year-over-year to $987.9M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Rayonier carries a low D/E ratio of 0.59, meaning only $0.59 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 89/100, indicating a strong balance sheet with room for future borrowing.
Rayonier's current ratio of 1.12 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 25/100, which could limit financial flexibility.
Rayonier converts 17.9% of revenue into free cash flow ($176.7M). This strong cash generation earns a score of 89/100.
Rayonier earns a strong 20.3% return on equity (ROE), meaning it generates $20 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 81/100. This is up from 9.3% the prior year.
Rayonier scores 3.26, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($7.1B) relative to total liabilities ($1.7B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Rayonier passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Rayonier generates $0.73 in operating cash flow ($261.6M OCF vs $359.1M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Rayonier earns $10.8 in operating income for every $1 of interest expense ($364.1M vs $33.8M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
This page shows Rayonier (RYN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Rayonier generated $987.9M in revenue in fiscal year 2024. This represents an increase of 25.3% from the prior year.
Rayonier's EBITDA was $478.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 48.8% from the prior year.
Rayonier generated $176.7M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 19.5% from the prior year.
Rayonier reported $359.1M in net income in fiscal year 2024. This represents an increase of 107.0% from the prior year.
Rayonier earned $2.39 per diluted share (EPS) in fiscal year 2024. This represents an increase of 104.3% from the prior year.
Rayonier held $303.1M in cash against $1.0B in long-term debt as of fiscal year 2024.
Rayonier paid $2.94 per share in dividends in fiscal year 2024. This represents an increase of 119.4% from the prior year.
Rayonier had 156M shares outstanding in fiscal year 2024. This represents an increase of 5.3% from the prior year.
Rayonier's gross margin was 44.6% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 11.7 percentage points from the prior year.
Rayonier's operating margin was 36.9% in fiscal year 2024, reflecting core business profitability. This is up 13.4 percentage points from the prior year.
Rayonier's net profit margin was 36.4% in fiscal year 2024, showing the share of revenue converted to profit. This is up 14.3 percentage points from the prior year.
Rayonier's ROE was 20.3% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 11.0 percentage points from the prior year.
Rayonier spent $4.2M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 0.9% from the prior year.
Rayonier invested $84.8M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 7.6% from the prior year.
RYN Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $177.5M+66.6% | $106.5M+28.5% | $82.9M-87.3% | $650.5M+424.1% | $124.1M+24.6% | $99.6M-12.4% | $113.7M-42.8% | $198.8M |
| Cost of Revenue | $119.1M+59.0% | $74.9M+15.3% | $65.0M-78.4% | $300.8M+248.5% | $86.3M+16.2% | $74.3M-13.7% | $86.1M+31.0% | $65.7M |
| Gross Profit | $58.4M+84.6% | $31.6M+76.0% | $18.0M-94.9% | $349.7M+825.7% | $37.8M+49.1% | $25.3M-8.1% | $27.6M-79.3% | $133.1M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $17.0M+0.5% | $16.9M+1.4% | $16.7M+0.7% | $16.6M-9.3% | $18.3M-11.3% | $20.6M+8.6% | $19.0M-5.7% | $20.1M |
| Operating Income | $41.7M+186.8% | $14.5M+24552.5% | $59K-100.0% | $332.1M+1663.5% | $18.8M+314.2% | $4.5M-47.3% | $8.6M-92.7% | $118.6M |
| Interest Expense | $6.8M+3.5% | $6.5M+2.3% | $6.4M+10.7% | $5.8M-37.3% | $9.2M+2.0% | $9.0M-7.3% | $9.7M-15.9% | $11.6M |
| Income Tax | $0 | $0-100.0% | $291K+809.8% | -$41K-510.0% | $10K | $0+100.0% | -$991K+33.3% | -$1.5M |
| Net Income | $43.2M-89.4% | $408.7M+12036.6% | -$3.4M-101.0% | $327.1M+1037.5% | $28.8M+1411.2% | $1.9M+40.2% | $1.4M-98.9% | $126.9M |
| EPS (Diluted) | $0.28-89.4% | $2.63+13250.0% | $-0.02-100.9% | $2.18+1047.4% | $0.19+1800.0% | $0.010.0% | $0.01-98.8% | $0.85 |
RYN Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.5B-0.6% | $3.5B+4.9% | $3.4B-3.5% | $3.5B-0.1% | $3.5B-1.7% | $3.5B-0.9% | $3.6B-2.1% | $3.6B |
| Current Assets | $972.9M+1.4% | $959.9M+25.1% | $767.4M+75.6% | $436.9M+57.7% | $277.1M+20.5% | $230.0M-17.8% | $279.9M-11.7% | $317.0M |
| Cash & Equivalents | $919.6M+3.1% | $892.3M+312.6% | $216.2M-28.6% | $303.1M+483.4% | $51.9M-56.8% | $120.2M-15.4% | $142.1M-20.9% | $179.7M |
| Inventory | $16.2M-51.5% | $33.4M+0.4% | $33.3M+7.9% | $30.9M+65.5% | $18.7M-21.9% | $23.9M-45.1% | $43.5M+49.2% | $29.2M |
| Accounts Receivable | $13.6M+18.1% | $11.5M+10.2% | $10.4M+30.1% | $8.0M-78.5% | $37.2M+18.3% | $31.4M-11.1% | $35.3M+169.9% | $13.1M |
| Goodwill | N/A | N/A | N/A | $7.0M | N/A | N/A | N/A | $7.8M |
| Total Liabilities | $1.2B+0.1% | $1.2B-15.6% | $1.4B-15.8% | $1.7B+0.8% | $1.7B-2.3% | $1.7B-0.4% | $1.7B-2.7% | $1.8B |
| Current Liabilities | $282.6M+3.0% | $274.3M-3.0% | $282.8M-27.2% | $388.7M+178.7% | $139.5M+20.1% | $116.1M+2.1% | $113.8M-18.9% | $140.3M |
| Long-Term Debt | $845.1M0.0% | $844.9M-19.1% | $1.0B0.0% | $1.0B-18.7% | $1.3B-5.8% | $1.4B+0.1% | $1.4B+5.3% | $1.3B |
| Total Equity | $2.3B-1.0% | $2.3B+20.2% | $1.9B+8.2% | $1.8B-1.0% | $1.8B-1.1% | $1.8B-1.3% | $1.8B-1.6% | $1.9B |
| Retained Earnings | $514.2M-5.7% | $545.1M+167.0% | $204.2M-20.6% | $257.3M+5.5% | $243.9M-7.6% | $264.0M-11.0% | $296.5M-12.3% | $338.2M |
RYN Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $116.2M+90.5% | $61.0M+120.2% | $27.7M-68.5% | $87.8M+32.7% | $66.2M+19.6% | $55.3M+5.8% | $52.3M-41.5% | $89.4M |
| Capital Expenditures | $16.3M | N/A | N/A | $21.9M-8.8% | $24.0M | N/A | N/A | N/A |
| Free Cash Flow | $99.9M | N/A | N/A | $65.9M+56.4% | $42.2M | N/A | N/A | N/A |
| Investing Cash Flow | -$15.4M-102.3% | $679.7M+3270.6% | -$21.4M-105.0% | $428.9M+1665.2% | -$27.4M-17.1% | -$23.4M+2.7% | -$24.0M-111.8% | $203.8M |
| Financing Cash Flow | -$73.5M+10.5% | -$82.1M+29.5% | -$116.5M+53.3% | -$249.4M-137.9% | -$104.8M-109.7% | -$50.0M+33.4% | -$75.1M+61.4% | -$194.7M |
| Dividends Paid | $42.6M+0.5% | $42.4M-61.6% | $110.4M+160.0% | $42.5M+0.1% | $42.4M-0.2% | $42.5M-41.2% | $72.3M+70.4% | $42.4M |
| Share Buybacks | $7K-99.7% | $2.6M+6847.4% | $38K+216.7% | $12K+200.0% | $4K-99.9% | $4.1M+13229.0% | $31K | $0 |
RYN Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 32.9%+3.2pp | 29.7%+8.0pp | 21.7%-32.1pp | 53.8%+23.3pp | 30.4%+5.0pp | 25.4%+1.2pp | 24.3%-42.7pp | 67.0% |
| Operating Margin | 23.5%+9.8pp | 13.7%+13.6pp | 0.1%-51.0pp | 51.0%+35.9pp | 15.2%+10.6pp | 4.6%-3.0pp | 7.6%-52.1pp | 59.7% |
| Net Margin | 24.3%-359.3pp | 383.6%+387.8pp | -4.1%-54.4pp | 50.3%+27.1pp | 23.2%+21.3pp | 1.9%+0.7pp | 1.2%-62.6pp | 63.8% |
| Return on Equity | 1.9%-15.8pp | 17.8% | N/A | 18.5%+16.9pp | 1.6%+1.5pp | 0.1%+0.0pp | 0.1%-6.7pp | 6.8% |
| Return on Assets | 1.2%-10.4pp | 11.6%+11.7pp | -0.1%-9.5pp | 9.4%+8.6pp | 0.8%+0.8pp | 0.1%0.0pp | 0.0%-3.4pp | 3.5% |
| Current Ratio | 3.44-0.1 | 3.50+0.8 | 2.71+1.6 | 1.12-0.9 | 1.990.0 | 1.98-0.5 | 2.46+0.2 | 2.26 |
| Debt-to-Equity | 0.370.0 | 0.37-0.2 | 0.55-0.0 | 0.59-0.1 | 0.72-0.0 | 0.75+0.0 | 0.74+0.0 | 0.69 |
| FCF Margin | 56.3% | N/A | N/A | 10.1%-23.8pp | 34.0% | N/A | N/A | N/A |
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Frequently Asked Questions
What is Rayonier's annual revenue?
Rayonier (RYN) reported $987.9M in total revenue for fiscal year 2024. This represents a 25.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Rayonier's revenue growing?
Rayonier (RYN) revenue grew by 25.3% year-over-year, from $788.4M to $987.9M in fiscal year 2024.
Is Rayonier profitable?
Yes, Rayonier (RYN) reported a net income of $359.1M in fiscal year 2024, with a net profit margin of 36.4%.
What is Rayonier's earnings per share (EPS)?
Rayonier (RYN) reported diluted earnings per share of $2.39 for fiscal year 2024. This represents a 104.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Rayonier's EBITDA?
Rayonier (RYN) had EBITDA of $478.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Rayonier have?
As of fiscal year 2024, Rayonier (RYN) had $303.1M in cash and equivalents against $1.0B in long-term debt.
What is Rayonier's gross margin?
Rayonier (RYN) had a gross margin of 44.6% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Rayonier's operating margin?
Rayonier (RYN) had an operating margin of 36.9% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Rayonier's net profit margin?
Rayonier (RYN) had a net profit margin of 36.4% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
Does Rayonier pay dividends?
Yes, Rayonier (RYN) paid $2.94 per share in dividends during fiscal year 2024.
What is Rayonier's return on equity (ROE)?
Rayonier (RYN) has a return on equity of 20.3% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Rayonier's free cash flow?
Rayonier (RYN) generated $176.7M in free cash flow during fiscal year 2024. This represents a -19.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Rayonier's operating cash flow?
Rayonier (RYN) generated $261.6M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Rayonier's total assets?
Rayonier (RYN) had $3.5B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Rayonier's capital expenditures?
Rayonier (RYN) invested $84.8M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
Does Rayonier buy back shares?
Yes, Rayonier (RYN) spent $4.2M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does Rayonier have outstanding?
Rayonier (RYN) had 156M shares outstanding as of fiscal year 2024.
What is Rayonier's current ratio?
Rayonier (RYN) had a current ratio of 1.12 as of fiscal year 2024, which is considered adequate.
What is Rayonier's debt-to-equity ratio?
Rayonier (RYN) had a debt-to-equity ratio of 0.59 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Rayonier's return on assets (ROA)?
Rayonier (RYN) had a return on assets of 10.3% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Rayonier's Altman Z-Score?
Rayonier (RYN) has an Altman Z-Score of 3.26, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Rayonier's Piotroski F-Score?
Rayonier (RYN) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Rayonier's earnings high quality?
Rayonier (RYN) has an earnings quality ratio of 0.73x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Rayonier cover its interest payments?
Rayonier (RYN) has an interest coverage ratio of 10.8x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Rayonier?
Rayonier (RYN) scores 81 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.