Rayonier Inc. (RYN) vs Uniti Group Inc. (UNIT)

Rayonier Inc. and Uniti Group Inc. are both Reit Specialty companies. Rayonier Inc. is the larger, with a market value of $5.6B against $1.8B — 3.1× the size. Uniti Group Inc. trades at the lower P/E: 1.4× against 41.3×. Uniti Group Inc. grew revenue faster over the last twelve months: 199.7% against 0.44%. Uniti Group Inc. has the higher net margin (28.0% vs 7.83%) and the lower return on invested capital (0.00% vs 0.54%). Only Rayonier Inc. pays a dividend (5.55%). Across the 22 metrics below, Uniti Group Inc. leads on 14 and Rayonier Inc. on 8.

Valuation

Metric RYN UNIT Reit Specialty median
P/E 41.26 1.36 26.73
P/S 5.89 0.49 5.89
P/B 1.10 10.76 2.08
Price to free cash flow n/m n/m 14.38
EV/EBITDA 39.88 0.84 16.93
EV/Sales 7.59 0.29 8.60
Earnings yield 2.42% 73.51% 3.56%
Free cash flow yield (8.20%) (50.06%) 5.25%

Profitability

Metric RYN UNIT Reit Specialty median
Gross margin 23.73% 59.09% 67.43%
Operating margin 5.96% 3.23% 21.38%
Net margin 7.83% 27.99% 16.14%
Free cash flow margin (48.37%) (25.13%) 31.07%
Return on equity 2.02% (86.76%) 4.76%
Return on assets 1.38% 10.69% 3.29%
Return on invested capital 0.54% 0.00% 4.19%

Growth

Metric RYN UNIT Reit Specialty median
Revenue growth (TTM) 0.44% 199.72% 5.36%
EPS growth (last fiscal year) 26.78% 672.65% 26.78%
Revenue growth, 5-year CAGR (10.83%) 15.93% 6.70%
Net income growth, 5-year CAGR 66.49% 0.00% 0.00%

Health

Metric RYN UNIT Reit Specialty median
Debt to equity 0.36 0.00 0.62
Current ratio 3.56 0.10 0.70
Net debt to EBITDA 1.07 (0.14) 4.47

Dividend

Metric RYN UNIT Reit Specialty median
Dividend yield 5.55% 0.00% 3.99%
Payout ratio 2.34 0.00 1.17

Size

Metric RYN UNIT Reit Specialty median
Market cap 5.56b 1.80b 8.35b

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