RAYONIER ADVANCED MATERIALS INC. RYAM
RYAM is a global leader of cellulose and derivatives commonly used in the production of filters, food, pharmaceuticals, high performance plastics, propellants and various industrial applications. RYAM's specialized assets, capable of creating the world's leading cellulose specialties products, are also used to produce cellulose viscose pulp, cellulose fluff pulp, high-yield pulp and various value-added derivatives, including paperboard, biofuels, bioelectricity and lignin.
Before June 27, 2014, we consisted of Rayonier Inc.'s wholly-owned performance fibers business, which was primarily engaged in producing cellulose specialties. On that date, we separated from Rayonier Inc. and started our business as an independent, publicly traded company. In November 2017, we acquired Tembec Inc., a manufacturer of cellulose specialties, lumber, paperboard, newsprint and high-yield pulp.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.47B | $1.63B | $1.64B | $1.72B | $1.41B | $1.34B | $1.43B | $1.96B | $940.4M | $868.7M |
| Cost of revenue | $1.35B | $1.46B | $1.56B | $1.59B | $1.33B | $1.28B | $1.38B | $1.67B | $799.7M | $682.6M |
| Gross profit | $118.8M | $165.6M | $88.2M | $123.1M | $74.7M | $63.4M | $53.5M | $291.1M | $140.8M | $186.2M |
| R&D | $7.0M | $5.0M | $6.0M | $7.0M | $7.0M | $7.0M | $6.0M | — | — | — |
| SG&A | $83.9M | $92.3M | $75.7M | $91.5M | $75.8M | $77.9M | $80.8M | $105.0M | $79.6M | $37.2M |
| Operating income | $4.1M | $39.5M | -$65.3M | $26.1M | -$10.4M | -$30.4M | -$52.5M | $147.8M | $59.0M | $143.3M |
| Interest expense | $98.0M | $85.7M | $73.8M | $66.2M | $66.4M | $55.5M | $52.0M | $55.9M | $40.0M | $34.6M |
| Pre-tax income | -$95.0M | -$49.2M | -$132.5M | -$23.8M | -$82.9M | -$98.2M | -$104.3M | $126.5M | $342.7M | $112.6M |
| Income tax | $323.3M | $8.9M | $32.3M | $902.0K | $34.7M | $60.9M | $20.4M | $27.0M | $19.2M | $39.3M |
| Net income | -$420.7M | -$38.7M | -$101.8M | -$14.9M | $66.4M | $555.0K | -$22.4M | $128.4M | $325.0M | $73.3M |
| EPS, basic | -6.33 | -0.59 | -1.57 | -0.23 | 1.05 | 0.01 | -0.57 | 2.27 | 7.17 | 1.61 |
| EPS, diluted | -6.33 | -0.59 | -1.57 | -0.23 | 1.05 | 0.01 | -0.57 | 1.96 | 5.81 | 1.55 |
| Shares, diluted (wtd. avg.) | $66.8M | $65.7M | $65.1M | $63.9M | $63.6M | $63.2M | $54.5M | $65.4M | $55.9M | $47.1M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $75.4M | $125.2M | $75.8M | $151.8M | $253.3M | $93.7M | $64.0M | $109.0M | $96.2M | $326.7M |
| Receivables | $193.3M | $214.0M | $197.5M | $211.5M | $181.6M | $179.2M | $181.7M | $199.3M | — | $37.6M |
| Inventory | $238.0M | $208.0M | $207.5M | $265.3M | $230.7M | $170.6M | $251.2M | $304.0M | — | $118.4M |
| Total current assets | $568.4M | $601.0M | $575.1M | $689.5M | $776.1M | $633.6M | $573.8M | $716.1M | — | $519.5M |
| Property, plant and equipment | $1.01B | $1.02B | $1.08B | $1.15B | $1.15B | $1.27B | $1.32B | $1.36B | — | $801.0M |
| Other intangibles | $3.9M | $10.4M | $17.4M | $24.4M | $31.4M | $38.4M | $45.5M | $52.5M | — | — |
| Total assets | $1.76B | $2.13B | $2.18B | $2.35B | $2.45B | $2.53B | $2.48B | $2.68B | — | $1.42B |
| Accounts payable | $190.4M | $196.2M | $186.2M | $164.0M | $169.5M | $156.7M | $153.2M | $181.7M | — | $36.4M |
| Short-term debt | $20.9M | $23.4M | $25.3M | $14.6M | $37.7M | $17.1M | $19.4M | $15.0M | — | $9.6M |
| Total current liabilities | $360.4M | $400.2M | $375.8M | $353.7M | $354.6M | $293.0M | $286.1M | $370.4M | — | $127.0M |
| Retained earnings | -$88.9M | $333.6M | $372.6M | $474.4M | $489.3M | $422.9M | $422.4M | $462.6M | — | $79.0M |
| Total equity | $316.6M | $713.9M | $746.4M | $829.3M | $814.3M | $695.1M | $682.8M | $706.9M | $693.8M | $211.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $23.9M | $203.6M | $136.3M | $68.8M | $233.2M | $124.5M | $41.9M | $246.9M | $129.8M | $232.2M |
| Depreciation and amortisation | $134.0M | $137.2M | $140.0M | $134.6M | $138.3M | $138.4M | $142.2M | $146.0M | $96.6M | $88.3M |
| Stock-based compensation | $5.5M | $7.1M | $6.5M | $9.7M | $5.1M | $6.4M | $6.5M | $13.0M | $9.0M | $7.2M |
| Capital expenditure | — | — | — | — | $95.2M | $63.3M | $90.5M | $128.8M | $75.0M | $88.7M |
| Investing cash flow | -$114.1M | -$107.9M | -$127.3M | -$94.2M | $85.4M | -$77.8M | $52.5M | -$116.0M | -$277.4M | -$86.6M |
| Financing cash flow | $30.1M | -$42.5M | -$86.9M | -$73.1M | -$156.7M | -$19.4M | -$138.5M | -$116.5M | -$83.6M | $79.7M |
| Dividends paid | — | — | — | — | $0 | $0 | $8.6M | $15.1M | $12.7M | $11.8M |
| Buybacks | — | — | — | — | $1.4M | $457.0K | $6.9M | $42.8M | $157.0K | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001597672-26-000010.
Others in SIC 2611
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| MERC | MERCER INTERNATIONAL INC. | $25.3M | — | -8.6% |