| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | — | — |
| Sell | — | 1 | — | — | 1 | — | 1 | — | — | — | — | 1 |
| total | individual payouts | |
|---|---|---|
| 2028 | ‡‡‡‡‡ |
|
| 2027 | ‡‡‡‡‡ |
|
| 2026 | 1.06 |
—
—
—
|
| 2025 | 1.37 |
—
—
—
—
—
|
| 2024 | 1.14 |
—
—
—
—
—
|
| 2023 | 1.14 |
—
—
—
—
—
|
| 2022 | 1.13 |
—
—
—
—
|
| 2021 | 1.08 |
—
—
—
—
|
| 2020 | 1.08 |
—
—
—
—
|
| 2019 | 1.08 |
—
—
—
—
|
| 2018 | 1.06 |
—
—
—
—
|
| 2017 | 1.00 |
—
—
—
—
|
| 2016 | 1.00 |
—
—
—
—
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 207.70 | 322.43 | 842.94 | 411.76 |
| Receivables | 40.17 | 21.27 | 16.27 | 65.23 |
| Inventory | 31.02 | 30.88 | 6.83 | 125.30 |
| Other | 34.43 | 11.89 | 14.49 | 59.35 |
| 316.96 | 436.89 | 883.76 | 681.18 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 26.56 | 16.91 | 12.78 | 30.85 |
| ST’ Debt | — | 19.44 | 199.98 | — |
| Other | 38.85 | 9.36 | 13.94 | 41.63 |
| 140.28 | 388.71 | 271.28 | 191.22 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Earnings | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 276.79 | 396.48 | — | — |
—
|
| ’25 | 82.92 | 106.54 | 177.53 | 117.49 |
484.49
|
| ’24 | 113.70 | 99.64 | 124.10 | 650.48 |
987.93
|
| ’23 | 179.08 | 208.87 | 201.58 | 198.85 |
788.37
|
| ’22 | 222.04 | 246.35 | 195.29 | 245.40 |
909.07
|
| ’21 | 191.45 | 291.43 | 364.73 | 261.99 |
1,109.60
|
| ’20 | 259.13 | 195.63 | 198.88 | 205.52 |
859.15
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 34.58 | 110.59 | — | — |
—
|
| ’25 | 27.70 | 60.99 | 116.19 | 51.79 |
256.66
|
| ’24 | 52.30 | 55.33 | 66.15 | 87.81 |
261.59
|
| ’23 | 63.95 | 62.37 | 82.61 | 89.44 |
298.38
|
| ’22 | 49.67 | 98.86 | 61.36 | 59.30 |
269.19
|
| ’21 | 53.87 | 110.71 | 112.86 | 47.67 |
325.11
|
| ’20 | 29.18 | 53.42 | 55.38 | 66.19 |
204.17
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 9.61 | 83.24 | — | — |
—
|
| ’25 | 8.94 | 733.78 | 100.60 | (661.76) |
181.55
|
| ’24 | 27.95 | 32.61 | 40.99 | 539.24 |
640.79
|
| ’23 | 37.45 | 37.32 | 62.28 | 296.73 |
433.79
|
| ’22 | 28.10 | 80.84 | 38.56 | 33.18 |
180.68
|
| ’21 | 5.09 | 156.25 | 145.22 | (163.34) |
143.21
|
| ’20 | 127.67 | 37.57 | 38.28 | 18.66 |
222.18
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (0.05) | 0.06 | — | — |
—
|
| ’25 | (0.02) | 2.63 | 0.28 | 0.16 |
3.03
|
| ’24 | 0.01 | 0.01 | 0.19 | 2.15 |
2.39
|
| ’23 | 0.06 | 0.13 | 0.13 | 0.85 |
1.17
|
| ’22 | 0.20 | 0.16 | 0.14 | 0.22 |
0.73
|
| ’21 | 0.08 | 0.41 | 0.53 | 0.06 |
1.08
|
| ’20 | 0.20 | 0.01 | (0.01) | 0.07 |
0.27
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 29.51 | 24.84 | 25.46 | 21.06 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | 45.87 | 37.79 | 35.29 | 28.31 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 419 | 438 | 424 | 285 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.17 | 1.80 | 2.33 | 1.70 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 909.07 | 788.37 | 987.93 | 484.49 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 24.29% | 32.91% | 44.57% | 32.46% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 132.18 | 159.61 | 339.84 | 74.59 | — | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 14.54% | 20.25% | 34.40% | 15.40% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 122.79 | 178.50 | 368.98 | 480.41 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 148.09 | 136.57 | 113.86 | 106.45 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 6.22 | 5.33 | 6.64 | 3.13 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | 0.73 | 1.17 | 2.41 | 3.07 | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.84 | 2.02 | 1.76 | 1.66 | — | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.61) | 0.91 | 2.55 | (0.49) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.24 | 2.93 | 4.31 | 1.17 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 12.86 | 12.68 | 11.96 | 14.28 | — | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 146.21 | 148.05 | 148.84 | 154.76 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 45.47 | 28.83 | 10.83 | 7.08 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 5.34 | 6.39 | 3.93 | 6.92 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.58 | 2.68 | 2.18 | 1.52 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 6.89 | 7.87 | 4.68 | 7.33 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 34.65 | 14.30 | 7.22 | 19.57 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 269.19 | 298.38 | 261.59 | 256.66 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (88.51) | 135.41 | 379.20 | (75.11) | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 180.68 | 433.79 | 640.79 | 181.55 | — | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 107.05 | 176.68 | 48.18 | 612.47 | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,522.72 | 1,365.77 | 1,063.85 | 1,045.32 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,408.47 | 1,158.08 | 741.42 | 202.37 | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,880.71 | 1,877.60 | 1,780.53 | 2,209.74 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.88% | 4.67% | 10.09% | 13.79% | — | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.15% | 3.80% | 9.02% | 2.16% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 5.79% | 9.23% | 19.64% | 23.78% | — | — | — |
ROE
|
Rayonier Inc. (RYN), a timberland REIT, showcased remarkable operational efficiency in 2024, with revenue per employee surging 23.4% to $2.98 million amid steady headcount, driving EBT margins to a decade-high 29.8% and EPS to $2.41—more than doubling from 2023. This profitability decoupled from revenue volatility rooted in lumber cycles, peaking during the 2021-2022 post-COVID housing boom (revenue +29.1%, stock highs near $46), before retracing amid rising rates. Gross margins rebounded to 37.9%, ROE hit 19.6%, and a fortified balance sheet featured 27% debt reduction to $1.11 billion, positioning RYN for resilience.
Yet, analyst forecasts signal sharp 2025 turbulence: revenue plunging 61.7% to $484.5 million—potentially from divestitures or softening markets—coupled with shares doubling to 302 million and capex flipping to $613 million. Despite this, free cash flow could explode to $870 million, enabling deleveraging and supporting a ~4-5% yield. Valuations appear compressed at a 10.8 PE (lowest since 2016), PB 2.18, with targets implying 2-40% upside from recent prices, hinting at mean-reversion potential amid historical correlations between low multiples and strong rebounds.
Risks include climate events, dilution, and commodity swings, but RYN’s 2.7 million acres, ESG tailwinds, and FCF strength suggest 10-20% total returns if margins hold and housing stabilizes. This quantitative profile—blending cyclical headwinds with REIT stability—warrants closer scrutiny for long-term investors.
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