RAYONIER INC RYN

Real estate SIC 6798 - Real Estate Investment Trusts NAICS Real Estate and Rental and Leasing › Real Estate › Lessors of Real Estate derived NYSE

Last close 18.65 2026-10-23
Market cap $5.61B 2026-03-31 share count
52-week range 17.71 - 24.82

Valuation FY2025 figures against the last close

P/S11.6x
P/E6.2x
P/FCF21.9x
EV/EBITDA69.7x
Dividend yield5.2%
Diluted EPS3.03

Where the revenue comes from as reported in the latest 10-K

Revenue by segment

  • Southern Timber
  • Real Estate
  • Pacific Northwest Timber
Revenue by segment, 3 categories over 3 years. The same figures are in the table below. FY2025 Southern Timber, FY2025: 228.3M (47.1%) 47% Southern Timber Real Estate, FY2025: 172.6M (35.6%) 36% Real Estate Pacific Northwest Timber, FY2025: 83.6M (17.2%) 17% Pacific Northwest Timber FY2024 Southern Timber, FY2024: 251.6M (25.5%) 25% Real Estate, FY2024: 628.3M (63.6%) 64% Pacific Northwest Timber, FY2024: 108M (10.9%) 11% FY2023 Southern Timber, FY2023: 265.1M (33.6%) 34% Real Estate, FY2023: 390M (49.5%) 49% Pacific Northwest Timber, FY2023: 133.3M (16.9%) 17%
Segment FY2025FY2024FY2023
Southern Timber $228.3M $251.6M $265.1M
Real Estate $172.6M $628.3M $390.0M
Pacific Northwest Timber $83.6M $108.0M $133.3M

As the company reported it, from the “REVENUE - Disaggregation of Revenue by Product (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $483.0M$986.4M$787.0M$575.9M$1.11B$858.5M$711.6M$816.1M$819.6M$814.9M
Cost of revenue $327.2M$547.6M$528.9M$392.3M$796.1M$712.4M$558.4M$605.3M$568.3M$526.4M
Gross profit $155.8M$438.9M$258.0M$183.6M$312.3M$146.1M$153.2M$210.9M$251.3M$288.4M
SG&A $66.7M$74.4M$74.8M$64.7M$57.8M$50.6M$41.6M$42.0M$40.2M$42.8M
Total operating expenses $401.1M$623.8M$603.7M$441.8M$839.8M$784.8M$604.5M$646.1M$604.1M$560.1M
Operating income $83.3M$364.1M$184.7M$135.4M$269.8M$74.4M$107.0M$170.1M$215.5M$255.8M
Interest expense $26.4M$33.8M$45.1M$33.3M$44.9M$38.8M$31.7M$32.1M$34.1M$32.2M
Pre-tax income $74.6M$339.8M$159.6M$104.4M$225.1M$36.8M$80.6M$142.6M$183.3M$222.8M
Income tax $527.0K$1.0M$293.0K$3.1M$14.7M$7.0M$12.9M$25.2M$21.7M$5.1M
Net income $474.4M$359.1M$173.5M$107.1M$152.6M$37.1M$59.1M$102.2M$148.8M$212.0M
EPS, basic 3.072.411.170.731.080.280.460.791.171.73
EPS, diluted 3.032.391.170.731.080.270.460.791.161.73
Shares, diluted (wtd. avg.) 158.7M152.1M151.1M150.2M145.3M136.9M129.6M129.7M127.8M122.8M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $842.9M$303.1M$207.7M$115.4M$369.1M$87.5M$70.0M$156.5M$172.4M$157.6M
Receivables $9.1M$8.0M$28.7M$27.8M$30.0M$49.1M$27.1M$26.2M$27.7M$20.7M
Inventory $6.8M$30.9M$31.0M$23.7M$28.5M$10.6M$14.5M$15.7M$24.1M$21.4M
Total current assets $883.8M$436.9M$317.0M$202.4M$451.4M$170.6M$126.0M$207.9M$183.5M$164.8M
Property, plant and equipment $18.5M$17.4M$27.0M$27.2M$29.6M$30.4M$22.3M$22.8M$23.4M$14.0M
Goodwill —$7.0M$7.8M$7.9M$8.5M$8.9M$8.6M$8.3M$8.8M$8.7M
Total assets $3.40B$3.47B$3.65B$3.79B$3.64B$3.73B$2.86B$2.78B$2.86B$2.69B
Accounts payable $12.8M$16.9M$26.6M$22.1M$23.4M$24.8M$18.2M$18.0M$25.1M$22.3M
Short-term debt $200.0M$0$0$0$125.0M—$82.0M$0$3.4M$31.7M
Total current liabilities $271.3M$388.7M$140.3M$95.3M$231.7M$91.1M$151.2M$63.5M$68.5M$92.0M
Long-term debt $845.3M$1.04B$1.37B$1.51B$1.24B$1.36B$973.1M$972.6M$1.02B$1.03B
Retained earnings $280.9M$257.3M$338.2M$366.6M$402.3M$446.3M$583.0M$672.4M$707.4M$700.9M
Total equity $2.21B$1.77B$1.88B$1.88B$1.82B$1.86B$1.54B$1.65B$1.69B$1.50B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $256.7M$261.6M$298.4M$269.2M$325.1M$204.2M$214.3M$310.1M$256.3M$203.8M
Depreciation and amortisation —$113.9M$136.6M$123.5M$248.5M$200.4M$128.2M$144.1M$146.0M$151.1M
Stock-based compensation $11.0M$14.2M$14.0M$12.4M$9.3M$8.0M$6.9M$6.4M$5.4M$5.1M
Capital expenditure —$84.8M$78.8M$514.2M$255.1M$66.5M$64.0M$62.3M$65.3M$58.7M
Investing cash flow $615.1M$354.0M$124.1M-$516.4M-$26.3M-$213.6M-$219.4M-$132.9M-$235.3M-$235.0M
Financing cash flow -$372.9M-$479.4M-$328.9M-$4.6M-$16.3M$27.0M-$79.6M-$193.7M-$6.9M$114.4M
Dividends paid $292.1M$200.6M$170.0M$165.7M$153.5M$146.3M$141.1M$136.8M$127.1M$122.8M
Buybacks $2.9M$4.2M$4.2M$4.2M$1.6M$1.6M$4.2M$3.0M$176.0K$690.0K

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 0000052827-26-000036.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 500M 1B 1.5B Revenue, FY2016: 814.9M Gross profit, FY2016: 288.4M Net income, FY2016: 212M Revenue, FY2017: 819.6M Gross profit, FY2017: 251.3M Net income, FY2017: 148.8M Revenue, FY2018: 816.1M Gross profit, FY2018: 210.9M Net income, FY2018: 102.2M Revenue, FY2019: 711.6M Gross profit, FY2019: 153.2M Net income, FY2019: 59.1M Revenue, FY2020: 858.5M Gross profit, FY2020: 146.1M Net income, FY2020: 37.1M Revenue, FY2021: 1.1B Gross profit, FY2021: 312.3M Net income, FY2021: 152.6M Revenue, FY2022: 575.9M Gross profit, FY2022: 183.6M Net income, FY2022: 107.1M Revenue, FY2023: 787M Gross profit, FY2023: 258M Net income, FY2023: 173.5M Revenue, FY2024: 986.4M Gross profit, FY2024: 438.9M Net income, FY2024: 359.1M Revenue, FY2025: 483M Gross profit, FY2025: 155.8M Net income, FY2025: 474.4M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $814.9M $819.6M $816.1M $711.6M $858.5M $1.11B $575.9M $787.0M $986.4M $483.0M
Gross profit $288.4M $251.3M $210.9M $153.2M $146.1M $312.3M $183.6M $258.0M $438.9M $155.8M
Net income $212.0M $148.8M $102.2M $59.1M $37.1M $152.6M $107.1M $173.5M $359.1M $474.4M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Auditor changed The company changed auditors. Sometimes routine; historically one of the more reliable warnings that something is wrong. Item 4.01
  • Officer or director change Item 5.02
  • Other event Item 8.01
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Officer or director change Item 5.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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