Rayonier Advanced Materials (RYAM) Financials

$9.26 +0.27 (+3.00%)

Closing price 03:59 PM Eastern

Extended Trading

$9.27 +0.01 (+0.09%)

As of 05:10 PM Eastern

Annual Income Statements for Rayonier Advanced Materials

This table shows Rayonier Advanced Materials' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-15	-102	-39
Consolidated Net Income / (Loss)	-15	-102	-39
Net Income / (Loss) Continuing Operations	-27	-102	-42
Total Pre-Tax Income	-24	-132	-49
Total Operating Income	26	-65	39
Total Gross Profit	123	88	166
Total Revenue	1,717	1,643	1,630
Operating Revenue	1,717	1,643	1,630
Total Cost of Revenue	1,594	1,555	1,465
Operating Cost of Revenue	1,594	1,555	1,465
Total Operating Expenses	97	153	126
Selling, General & Admin Expense	91	76	92
Other Operating Expenses / (Income)	5.47	15	-7.96
Impairment Charge	0.00	62	25
Restructuring Charge	0.00	0.00	17
Total Other Income / (Expense), net	-50	-67	-89
Interest Expense	66	73	86
Other Income / (Expense), net	16	6.14	-2.97
Income Tax Expense	0.90	-32	-8.93
Other Gains / (Losses), net	-2.65	-1.98	-1.65
Net Income / (Loss) Discontinued Operations	12	0.31	3.22
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	0.00	0.04
Basic Earnings per Share	($0.23)	($1.57)	($0.59)
Weighted Average Basic Shares Outstanding	64.20M	65.40M	65.97M
Diluted Earnings per Share	($0.23)	($1.57)	($0.59)
Weighted Average Diluted Shares Outstanding	64.20M	65.40M	65.97M
Weighted Average Basic & Diluted Shares Outstanding	64.20M	65.40M	65.97M

This table shows Rayonier Advanced Materials' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/24/2022	12/31/2022	4/1/2023	7/1/2023	9/30/2023	12/31/2023	3/30/2024	6/29/2024	9/28/2024	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	30	3.59	1.61	-17	-25	-62	-1.57	11	-33	-16
Consolidated Net Income / (Loss)	30	3.59	1.61	-17	-25	-62	-1.57	11	-33	-16
Net Income / (Loss) Continuing Operations	18	3.59	1.61	-16	-27	-62	-1.57	8.17	-33	-16
Total Pre-Tax Income	17	1.79	-0.33	-18	-32	-82	-1.59	7.78	-37	-19
Total Operating Income	29	16	17	-6.46	-14	-61	17	28	-17	11
Total Gross Profit	47	44	37	15	8.73	27	37	48	44	37
Total Revenue	466	500	467	385	369	422	388	419	401	423
Operating Revenue	466	500	467	385	369	422	388	419	401	423
Total Cost of Revenue	420	456	429	371	360	395	351	371	358	386
Operating Cost of Revenue	420	456	429	371	360	395	351	371	358	386
Total Operating Expenses	18	28	21	21	23	88	20	20	60	26
Selling, General & Admin Expense	20	23	19	18	21	17	21	22	23	27
Other Operating Expenses / (Income)	-1.89	4.19	1.35	3.09	2.01	8.86	-1.39	-8.32	4.69	-2.93
Total Other Income / (Expense), net	-11	-15	-17	-12	-17	-21	-19	-20	-20	-30
Interest Expense	16	17	15	15	21	22	21	21	20	23
Other Income / (Expense), net	5.13	2.36	-1.43	3.71	3.78	0.08	2.19	0.85	0.61	-6.61
Income Tax Expense	-1.82	-2.33	-2.59	-3.25	-5.39	-21	-0.47	-0.85	-4.60	-3.01
Other Gains / (Losses), net	-0.69	-0.53	-0.65	-0.68	-0.26	-0.39	-0.45	-0.45	-0.52	-0.23
Basic Earnings per Share	$0.47	$0.05	$0.02	($0.26)	($0.39)	($0.94)	($0.02)	$0.17	($0.49)	($0.25)
Weighted Average Basic Shares Outstanding	63.97M	64.20M	65.12M	65.34M	65.34M	65.40M	65.58M	65.89M	65.92M	65.97M
Diluted Earnings per Share	$0.45	$0.07	$0.02	($0.26)	($0.39)	($0.94)	($0.02)	$0.17	($0.49)	($0.25)
Weighted Average Diluted Shares Outstanding	63.97M	64.20M	65.12M	65.34M	65.34M	65.40M	65.58M	65.89M	65.92M	65.97M
Weighted Average Basic & Diluted Shares Outstanding	63.97M	64.20M	65.12M	65.34M	65.34M	65.40M	65.58M	65.89M	65.92M	65.97M

This table details how cash moves in and out of Rayonier Advanced Materials' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-98	-78	53
Net Cash From Operating Activities	69	136	204
Net Cash From Continuing Operating Activities	69	136	204
Net Income / (Loss) Continuing Operations	-27	-102	-42
Consolidated Net Income / (Loss)	-15	-102	-39
Net Income / (Loss) Discontinued Operations	12	0.31	3.22
Depreciation Expense	135	140	137
Amortization Expense	4.03	6.05	8.56
Non-Cash Adjustments To Reconcile Net Income	-18	63	67
Changes in Operating Assets and Liabilities, net	-24	30	33
Net Cash From Investing Activities	-94	-127	-108
Net Cash From Continuing Investing Activities	-139	-128	-108
Purchase of Property, Plant & Equipment	-138	-128	-108
Acquisitions	-0.38	-0.78	0.00
Net Cash From Discontinued Investing Activities	44	1.17	0.00
Net Cash From Financing Activities	-73	-87	-42
Net Cash From Continuing Financing Activities	-73	-87	-42
Repayment of Debt	-78	-547	-728
Repurchase of Common Equity	0.00	0.00	-1.19
Issuance of Debt	5.72	465	672
Issuance of Common Equity	0.00	0.00	16
Other Financing Activities, net	-0.43	-5.42	-0.91
Cash Interest Paid	58	51	95
Cash Income Taxes Paid	-15	7.24	-19

This table details how cash moves in and out of Rayonier Advanced Materials' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/24/2022	12/31/2022	4/1/2023	7/1/2023	9/30/2023	12/31/2023	3/30/2024	6/29/2024	9/28/2024	12/31/2024
Net Change in Cash & Equivalents	-12	15	16	-13	-129	47	-20	60	19	-5.86
Net Cash From Operating Activities	44	61	51	32	-1.72	54	11	88	50	55
Net Cash From Continuing Operating Activities	44	61	51	32	-1.72	54	11	88	50	55
Net Income / (Loss) Continuing Operations	18	3.59	1.61	-16	-27	-62	-1.57	8.17	-33	-16
Consolidated Net Income / (Loss)	30	3.59	1.61	-17	-25	-62	-1.57	11	-33	-16
Depreciation Expense	35	38	35	32	36	36	33	34	35	35
Non-Cash Adjustments To Reconcile Net Income	-0.55	-22	0.13	-0.28	3.47	59	1.43	4.75	31	30
Changes in Operating Assets and Liabilities, net	-9.22	38	14	16	-15	15	-22	41	16	-2.95
Net Cash From Investing Activities	-26	-24	-21	-33	-41	-32	-33	-25	-22	-28
Net Cash From Continuing Investing Activities	-28	-24	-21	-33	-41	-33	-33	-25	-22	-28
Purchase of Property, Plant & Equipment	-28	-24	-21	-33	-41	-32	-33	-25	-22	-28
Net Cash From Financing Activities	-29	-22	-14	-12	-86	25	0.93	-2.03	-8.87	-33
Net Cash From Continuing Financing Activities	-29	-22	-14	-12	-86	25	0.93	-2.03	-8.87	-33
Repayment of Debt	-31	-22	-8.37	-12	-387	-139	-130	-93	-19	-487
Issuance of Debt	1.87	-	-0.11	0.14	301	164	131	91	10	440
Other Financing Activities, net	0.00	-0.13	-5.11	-0.25	-	-0.06	-0.45	-0.19	-0.02	-0.25
Cash Interest Paid	19	9.67	19	9.56	22	0.71	34	9.76	27	24
Cash Income Taxes Paid	-23	1.28	3.03	4.06	0.13	0.02	-1.59	-3.17	-15	0.61

This table presents Rayonier Advanced Materials' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Total Assets	2,348	2,183	2,130
Total Current Assets	690	575	601
Cash & Equivalents	152	76	125
Accounts Receivable	212	197	214
Inventories, net	265	207	208
Prepaid Expenses	60	75	51
Current Deferred & Refundable Income Taxes	1.20	19	2.64
Plant, Property, & Equipment, net	1,151	1,075	1,019
Total Noncurrent Assets	507	533	510
Intangible Assets	24	17	10
Noncurrent Deferred & Refundable Income Taxes	322	345	350
Other Noncurrent Operating Assets	160	170	150
Total Liabilities & Shareholders' Equity	2,348	2,183	2,130
Total Liabilities	1,518	1,436	1,405
Total Current Liabilities	354	376	400
Short-Term Debt	15	25	23
Accounts Payable	164	186	196
Accrued Expenses	175	164	181
Total Noncurrent Liabilities	1,165	1,060	1,005
Long-Term Debt	839	752	706
Asset Retirement Reserve & Litigation Obligation	160	160	160
Noncurrent Deferred & Payable Income Tax Liabilities	17	15	14
Noncurrent Employee Benefit Liabilities	120	101	77
Other Noncurrent Operating Liabilities	29	31	47
Commitments & Contingencies	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	0.00	11
Total Equity & Noncontrolling Interests	829	746	714
Total Preferred & Common Equity	829	746	714
Total Common Equity	829	746	714
Common Stock	419	420	426
Retained Earnings	474	373	334
Accumulated Other Comprehensive Income / (Loss)	-64	-46	-46

This table presents Rayonier Advanced Materials' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Period end date	9/24/2022	4/1/2023	7/1/2023	9/30/2023	3/30/2024	6/29/2024	9/28/2024
Total Assets	2,336	2,310	2,306	2,176	2,135	2,197	2,159
Total Current Assets	688	662	640	518	546	635	629
Cash & Equivalents	132	169	157	27	55	114	136
Accounts Receivable	217	201	177	176	183	204	193
Inventories, net	270	237	219	243	228	225	234
Prepaid Expenses	69	54	86	73	61	74	63
Current Deferred & Refundable Income Taxes	1.05	-	-	-	19	17	2.77
Plant, Property, & Equipment, net	1,132	1,144	1,152	1,132	1,058	1,057	1,022
Total Noncurrent Assets	516	504	515	525	532	505	509
Intangible Assets	26	23	21	19	16	14	12
Noncurrent Deferred & Refundable Income Taxes	328	324	327	329	345	343	348
Other Noncurrent Operating Assets	162	157	167	177	171	148	148
Total Liabilities & Shareholders' Equity	2,336	2,310	2,306	2,176	2,135	2,197	2,159
Total Liabilities	1,557	1,479	1,492	1,390	1,393	1,442	1,427
Total Current Liabilities	341	321	410	334	332	377	364
Short-Term Debt	22	14	82	19	23	25	26
Accounts Payable	154	158	179	171	158	186	167
Accrued Expenses	165	149	149	144	152	166	171
Total Noncurrent Liabilities	1,216	1,158	1,082	1,056	1,061	1,065	1,063
Long-Term Debt	851	831	753	730	756	753	748
Asset Retirement Reserve & Litigation Obligation	159	159	159	159	160	160	160
Noncurrent Deferred & Payable Income Tax Liabilities	17	19	19	15	14	14	15
Noncurrent Employee Benefit Liabilities	159	118	121	120	99	95	94
Other Noncurrent Operating Liabilities	30	29	30	32	31	44	46
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	780	831	814	786	742	755	733
Total Preferred & Common Equity	780	831	814	786	742	755	733
Total Common Equity	780	831	814	786	742	755	733
Common Stock	418	415	417	419	421	423	424
Retained Earnings	471	476	459	434	371	382	350
Accumulated Other Comprehensive Income / (Loss)	-109	-60	-62	-67	-50	-50	-41

This table displays calculated financial ratios and metrics derived from Rayonier Advanced Materials' official financial filings.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-
Revenue Growth	22.00%	-4.31%	-0.79%
EBITDA Growth	44.06%	-51.98%	109.70%
EBIT Growth	357.08%	-239.57%	161.76%
NOPAT Growth	350.22%	-349.72%	160.49%
Net Income Growth	-122.46%	-582.59%	61.99%
EPS Growth	-121.90%	-582.61%	62.42%
Operating Cash Flow Growth	-70.49%	98.04%	49.41%
Free Cash Flow Firm Growth	-333.66%	160.25%	298.71%
Invested Capital Growth	5.47%	-5.39%	-8.23%
Revenue Q/Q Growth	7.93%	-4.50%	0.00%
EBITDA Q/Q Growth	26.70%	-46.61%	66.44%
EBIT Q/Q Growth	344.59%	-389.63%	228.57%
NOPAT Q/Q Growth	702.74%	-644.18%	221.52%
Net Income Q/Q Growth	64.93%	-177.85%	54.12%
EPS Q/Q Growth	64.06%	-180.36%	53.91%
Operating Cash Flow Q/Q Growth	103.75%	-5.04%	0.39%
Free Cash Flow Firm Q/Q Growth	41.94%	72.18%	27.63%
Invested Capital Q/Q Growth	0.66%	-3.95%	-2.98%
Profitability Metrics	-	-	-
Gross Margin	7.17%	5.36%	10.16%
EBITDA Margin	10.54%	5.29%	11.18%
Operating Margin	1.52%	-3.97%	2.42%
EBIT Margin	2.47%	-3.60%	2.24%
Profit (Net Income) Margin	-0.87%	-6.20%	-2.37%
Tax Burden Percent	62.63%	76.87%	78.67%
Interest Burden Percent	-56.24%	224.07%	-134.74%
Effective Tax Rate	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	1.23%	-3.07%	1.99%
ROIC Less NNEP Spread (ROIC-NNEP)	-3.74%	-11.07%	-8.17%
Return on Net Nonoperating Assets (RNNOA)	-3.04%	-9.86%	-7.25%
Return on Equity (ROE)	-1.82%	-12.93%	-5.26%
Cash Return on Invested Capital (CROIC)	-4.10%	2.47%	10.57%
Operating Return on Assets (OROA)	1.77%	-2.61%	1.69%
Return on Assets (ROA)	-0.62%	-4.50%	-1.80%
Return on Common Equity (ROCE)	-1.82%	-12.93%	-5.23%
Return on Equity Simple (ROE_SIMPLE)	-1.80%	-13.64%	-5.42%
Net Operating Profit after Tax (NOPAT)	18	-46	28
NOPAT Margin	1.07%	-2.78%	1.70%
Net Nonoperating Expense Percent (NNEP)	4.96%	8.00%	10.16%
Return On Investment Capital (ROIC_SIMPLE)	1.09%	-3.00%	1.91%
Cost of Revenue to Revenue	92.83%	94.64%	89.84%
SG&A Expenses to Revenue	5.33%	4.61%	5.66%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	5.65%	9.33%	7.73%
Earnings before Interest and Taxes (EBIT)	42	-59	37
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	181	87	182
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	0.74	0.35	0.76
Price to Tangible Book Value (P/TBV)	0.76	0.36	0.77
Price to Revenue (P/Rev)	0.36	0.16	0.33
Price to Earnings (P/E)	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.86	0.67	0.87
Enterprise Value to Revenue (EV/Rev)	0.77	0.59	0.71
Enterprise Value to EBITDA (EV/EBITDA)	7.27	11.12	6.36
Enterprise Value to EBIT (EV/EBIT)	31.05	0.00	31.74
Enterprise Value to NOPAT (EV/NOPAT)	71.90	0.00	41.93
Enterprise Value to Operating Cash Flow (EV/OCF)	19.12	7.09	5.69
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	26.25	7.90
Leverage & Solvency	-	-	-
Debt to Equity	1.03	1.04	1.01
Long-Term Debt to Equity	1.01	1.01	0.98
Financial Leverage	0.81	0.89	0.89
Leverage Ratio	2.92	2.87	2.93
Compound Leverage Factor	-1.64	6.44	-3.95
Debt to Total Capital	50.71%	51.02%	50.19%
Short-Term Debt to Total Capital	0.87%	1.66%	1.61%
Long-Term Debt to Total Capital	49.84%	49.36%	48.58%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.72%
Common Equity to Total Capital	49.29%	48.98%	49.09%
Debt to EBITDA	4.71	8.95	4.00
Net Debt to EBITDA	3.88	8.07	3.32
Long-Term Debt to EBITDA	4.63	8.65	3.88
Debt to NOPAT	46.63	-17.02	26.41
Net Debt to NOPAT	38.34	-15.36	21.88
Long-Term Debt to NOPAT	45.83	-16.46	25.56
Altman Z-Score	1.49	1.12	1.39
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.71%
Liquidity Ratios	-	-	-
Current Ratio	1.95	1.53	1.50
Quick Ratio	1.03	0.73	0.85
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	-61	37	147
Operating Cash Flow to CapEx	49.78%	106.74%	188.63%
Free Cash Flow to Firm to Interest Expense	-0.92	0.50	1.71
Operating Cash Flow to Interest Expense	1.04	1.86	2.38
Operating Cash Flow Less CapEx to Interest Expense	-1.05	0.12	1.12
Efficiency Ratios	-	-	-
Asset Turnover	0.72	0.73	0.76
Accounts Receivable Turnover	8.74	8.04	7.93
Inventory Turnover	6.43	6.58	7.05
Fixed Asset Turnover	1.49	1.48	1.56
Accounts Payable Turnover	9.56	8.88	7.66
Days Sales Outstanding (DSO)	41.78	45.42	46.06
Days Inventory Outstanding (DIO)	56.78	55.48	51.77
Days Payable Outstanding (DPO)	38.17	41.09	47.66
Cash Conversion Cycle (CCC)	60.39	59.81	50.17
Capital & Investment Metrics	-	-	-
Invested Capital	1,531	1,448	1,329
Invested Capital Turnover	1.15	1.10	1.17
Increase / (Decrease) in Invested Capital	79	-82	-119
Enterprise Value (EV)	1,315	966	1,159
Market Capitalization	614	265	544
Book Value per Share	$12.96	$11.42	$10.83
Tangible Book Value per Share	$12.58	$11.16	$10.67
Total Capital	1,682	1,524	1,454
Total Debt	853	777	730
Total Long-Term Debt	839	752	706
Net Debt	701	702	605
Capital Expenditures (CapEx)	138	128	108
Debt-free, Cash-free Net Working Capital (DFCFNWC)	199	149	99
Debt-free Net Working Capital (DFNWC)	350	225	224
Net Working Capital (NWC)	336	199	201
Net Nonoperating Expense (NNE)	33	56	66
Net Nonoperating Obligations (NNO)	701	702	605
Total Depreciation and Amortization (D&A)	139	146	146
Debt-free, Cash-free Net Working Capital to Revenue	11.57%	9.05%	6.07%
Debt-free Net Working Capital to Revenue	20.41%	13.66%	13.75%
Net Working Capital to Revenue	19.56%	12.12%	12.32%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	($0.23)	($1.57)	($0.59)
Adjusted Weighted Average Basic Shares Outstanding	64.20M	65.40M	65.97M
Adjusted Diluted Earnings per Share	($0.23)	($1.57)	($0.59)
Adjusted Weighted Average Diluted Shares Outstanding	64.20M	65.40M	65.97M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	64.20M	65.40M	65.97M
Normalized Net Operating Profit after Tax (NOPAT)	18	-2.07	57
Normalized NOPAT Margin	1.07%	-0.13%	3.49%
Pre Tax Income Margin	-1.39%	-8.06%	-3.02%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	0.64	-0.81	0.43
NOPAT to Interest Expense	0.28	-0.62	0.32
EBIT Less CapEx to Interest Expense	-1.45	-2.54	-0.83
NOPAT Less CapEx to Interest Expense	-1.81	-2.36	-0.94
Payout Ratios	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	-3.08%

This table displays calculated financial ratios and metrics derived from Rayonier Advanced Materials' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/24/2022	12/31/2022	4/1/2023	7/1/2023	9/30/2023	12/31/2023	3/30/2024	6/29/2024	9/28/2024	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	24.69%	33.74%	32.71%	-3.46%	-20.95%	-15.50%	-16.95%	8.73%	8.80%	0.00%
EBITDA Growth	106.36%	149.32%	140.13%	-1.71%	-62.61%	-143.86%	4.21%	110.75%	-26.13%	258.50%
EBIT Growth	1,620.79%	231.58%	337.15%	22.62%	-131.67%	-426.35%	27.03%	1,156.18%	-51.90%	107.22%
NOPAT Growth	1,494.91%	477.78%	205.08%	-122.85%	-132.04%	-213.83%	2.90%	792.07%	-16.34%	118.06%
Net Income Growth	722.26%	114.95%	106.47%	28.01%	-184.78%	-1,814.70%	-197.70%	168.00%	-29.87%	74.14%
EPS Growth	742.86%	120.59%	105.13%	27.78%	-186.67%	-1,442.86%	-200.00%	165.38%	-25.64%	73.40%
Operating Cash Flow Growth	113.53%	133.11%	318.49%	354.44%	-103.94%	-11.78%	-78.08%	169.76%	2,995.53%	1.45%
Free Cash Flow Firm Growth	-125.38%	-278.05%	-107.54%	122.66%	104.07%	195.03%	618.78%	361.52%	4,277.69%	218.52%
Invested Capital Growth	7.21%	5.47%	1.48%	-1.78%	-0.85%	-5.39%	-2.78%	-4.88%	-9.14%	-8.23%
Revenue Q/Q Growth	16.81%	7.21%	-6.65%	-17.43%	-4.34%	14.60%	-8.24%	8.10%	-4.28%	5.34%
EBITDA Q/Q Growth	127.85%	-17.25%	-11.44%	-41.13%	-13.33%	-197.07%	313.52%	19.05%	-69.62%	108.27%
EBIT Q/Q Growth	1,046.96%	-44.57%	-18.70%	-118.13%	-287.56%	-471.22%	131.83%	50.77%	-155.74%	127.15%
NOPAT Q/Q Growth	1,655.82%	18.82%	-69.01%	-138.91%	-123.67%	-322.17%	128.01%	161.67%	-137.60%	165.53%
Net Income Q/Q Growth	227.25%	-87.87%	-55.26%	-1,142.31%	-49.85%	-145.39%	97.45%	825.48%	-386.20%	51.14%
EPS Q/Q Growth	225.00%	-84.44%	-71.43%	-1,400.00%	-50.00%	-141.03%	97.87%	950.00%	-388.24%	48.98%
Operating Cash Flow Q/Q Growth	442.66%	40.33%	-16.26%	-36.81%	-105.30%	3,245.55%	-79.19%	677.57%	-43.11%	10.21%
Free Cash Flow Firm Q/Q Growth	28.95%	40.68%	75.21%	316.94%	-87.23%	1,283.79%	35.33%	93.00%	21.12%	0.69%
Invested Capital Q/Q Growth	0.14%	0.66%	-1.49%	-1.08%	1.08%	-3.95%	1.22%	-3.21%	-3.44%	-2.98%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	9.98%	8.78%	8.02%	3.80%	2.37%	6.47%	9.48%	11.53%	10.86%	8.74%
EBITDA Margin	14.75%	11.39%	10.80%	7.70%	6.98%	-5.91%	13.56%	14.93%	4.74%	9.37%
Operating Margin	6.12%	3.26%	3.56%	-1.68%	-3.92%	-14.43%	4.40%	6.73%	-4.19%	2.61%
EBIT Margin	7.22%	3.73%	3.25%	-0.71%	-2.89%	-14.41%	4.97%	6.93%	-4.04%	1.04%
Profit (Net Income) Margin	6.35%	0.72%	0.34%	-4.35%	-6.81%	-14.58%	-0.41%	2.72%	-8.13%	-3.77%
Tax Burden Percent	171.91%	200.67%	-486.97%	92.09%	79.25%	74.85%	98.74%	146.50%	88.90%	85.11%
Interest Burden Percent	51.17%	9.60%	-2.18%	661.38%	297.18%	135.15%	-8.25%	26.77%	226.49%	-425.85%
Effective Tax Rate	-10.59%	-130.06%	0.00%	0.00%	0.00%	0.00%	0.00%	-10.92%	0.00%	0.00%
Return on Invested Capital (ROIC)	7.33%	8.64%	3.05%	-1.42%	-3.12%	-11.14%	3.24%	8.20%	-3.32%	2.14%
ROIC Less NNEP Spread (ROIC-NNEP)	7.04%	3.57%	1.59%	-3.12%	-5.17%	-13.84%	1.31%	5.23%	-6.39%	-1.48%
Return on Net Nonoperating Assets (RNNOA)	6.18%	2.91%	1.35%	-2.84%	-4.83%	-12.32%	1.17%	4.47%	-5.72%	-1.31%
Return on Equity (ROE)	13.51%	11.54%	4.40%	-4.26%	-7.94%	-23.47%	4.41%	12.67%	-9.04%	0.83%
Cash Return on Invested Capital (CROIC)	-7.16%	-4.10%	1.27%	79.28%	1.41%	2.47%	-0.23%	3.55%	7.99%	10.57%
Operating Return on Assets (OROA)	4.77%	2.67%	2.51%	-0.55%	-2.21%	-10.45%	3.50%	4.92%	-3.04%	0.79%
Return on Assets (ROA)	4.20%	0.51%	0.27%	-3.37%	-5.19%	-10.58%	-0.29%	1.93%	-6.11%	-2.85%
Return on Common Equity (ROCE)	13.51%	11.54%	4.40%	-4.26%	-7.94%	-23.47%	4.41%	12.67%	-9.04%	0.82%
Return on Equity Simple (ROE_SIMPLE)	-5.46%	0.00%	1.39%	2.22%	-4.66%	0.00%	-14.16%	-10.18%	-11.51%	0.00%
Net Operating Profit after Tax (NOPAT)	32	37	12	-4.52	-10	-43	12	31	-12	7.71
NOPAT Margin	6.77%	7.50%	2.49%	-1.17%	-2.74%	-10.10%	3.08%	7.46%	-2.93%	1.82%
Net Nonoperating Expense Percent (NNEP)	0.28%	5.07%	1.46%	1.70%	2.05%	2.70%	1.93%	2.97%	3.07%	3.62%
Return On Investment Capital (ROIC_SIMPLE)	-	2.23%	-	-	-	-2.80%	-	-	-	0.53%
Cost of Revenue to Revenue	90.02%	91.22%	91.98%	96.20%	97.63%	93.53%	90.52%	88.47%	89.14%	91.26%
SG&A Expenses to Revenue	4.27%	4.69%	4.18%	4.67%	5.74%	4.04%	5.44%	5.20%	5.66%	6.32%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	3.86%	5.53%	4.47%	5.47%	6.29%	20.88%	5.08%	4.80%	15.05%	6.14%
Earnings before Interest and Taxes (EBIT)	34	19	15	-2.75	-11	-61	19	29	-16	4.40
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	69	57	50	30	26	-25	53	63	19	40
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.30	0.74	0.48	0.34	0.29	0.35	0.42	0.47	0.76	0.76
Price to Tangible Book Value (P/TBV)	0.32	0.76	0.50	0.35	0.30	0.36	0.43	0.48	0.78	0.77
Price to Revenue (P/Rev)	0.15	0.36	0.22	0.15	0.13	0.16	0.20	0.22	0.34	0.33
Price to Earnings (P/E)	0.00	0.00	34.88	15.44	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	2.87%	6.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.64	0.86	0.72	0.64	0.63	0.67	0.71	0.72	0.87	0.87
Enterprise Value to Revenue (EV/Rev)	0.61	0.77	0.59	0.53	0.55	0.59	0.66	0.64	0.73	0.71
Enterprise Value to EBITDA (EV/EBITDA)	6.85	7.27	5.23	4.65	5.86	11.12	12.44	8.78	10.93	6.36
Enterprise Value to EBIT (EV/EBIT)	102.67	31.05	16.88	14.77	46.70	0.00	0.00	0.00	0.00	31.74
Enterprise Value to NOPAT (EV/NOPAT)	0.00	71.90	26.34	0.82	113.55	0.00	0.00	0.00	0.00	41.93
Enterprise Value to Operating Cash Flow (EV/OCF)	28.96	19.12	7.51	5.06	6.64	7.09	10.78	6.75	5.90	5.69
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	56.90	0.80	44.58	26.25	0.00	19.75	10.41	7.90
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.12	1.03	1.02	1.03	0.95	1.04	1.05	1.03	1.06	1.01
Long-Term Debt to Equity	1.09	1.01	1.00	0.92	0.93	1.01	1.02	1.00	1.02	0.98
Financial Leverage	0.88	0.81	0.85	0.91	0.93	0.89	0.89	0.85	0.90	0.89
Leverage Ratio	3.07	2.92	2.93	2.98	2.88	2.87	2.83	2.87	2.86	2.93
Compound Leverage Factor	1.57	0.28	-0.06	19.69	8.57	3.89	-0.23	0.77	6.47	-12.49
Debt to Total Capital	52.81%	50.71%	50.43%	50.62%	48.81%	51.02%	51.21%	50.74%	51.35%	50.19%
Short-Term Debt to Total Capital	1.30%	0.87%	0.85%	4.95%	1.21%	1.66%	1.52%	1.63%	1.70%	1.61%
Long-Term Debt to Total Capital	51.50%	49.84%	49.57%	45.67%	47.59%	49.36%	49.70%	49.11%	49.65%	48.58%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.72%
Common Equity to Total Capital	47.19%	49.29%	49.57%	49.38%	51.19%	48.98%	48.79%	49.26%	48.65%	49.09%
Debt to EBITDA	6.11	4.71	4.10	4.05	4.60	8.95	9.34	6.69	7.06	4.00
Net Debt to EBITDA	5.19	3.88	3.28	3.29	4.44	8.07	8.69	5.71	5.82	3.32
Long-Term Debt to EBITDA	5.96	4.63	4.03	3.66	4.49	8.65	9.07	6.48	6.83	3.88
Debt to NOPAT	-287.48	46.63	20.65	0.72	89.23	-17.02	-17.17	-36.88	-34.00	26.41
Net Debt to NOPAT	-244.10	38.34	16.51	0.58	86.00	-15.36	-15.97	-31.46	-28.02	21.88
Long-Term Debt to NOPAT	-280.38	45.83	20.30	0.65	87.01	-16.46	-16.66	-35.69	-32.88	25.56
Altman Z-Score	1.28	1.46	1.44	1.29	1.26	1.12	1.26	1.30	1.34	1.34
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.71%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.02	1.95	2.06	1.56	1.55	1.53	1.64	1.69	1.73	1.50
Quick Ratio	1.03	1.03	1.16	0.81	0.61	0.73	0.71	0.84	0.91	0.85
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-71	-42	-10	23	2.88	40	54	104	126	127
Operating Cash Flow to CapEx	158.61%	255.01%	242.63%	98.47%	-4.19%	166.74%	34.60%	344.06%	230.22%	194.21%
Free Cash Flow to Firm to Interest Expense	-4.30	-2.49	-0.67	1.46	0.14	1.85	2.58	4.89	6.15	5.49
Operating Cash Flow to Interest Expense	2.66	3.64	3.32	2.10	-0.08	2.52	0.54	4.12	2.43	2.38
Operating Cash Flow Less CapEx to Interest Expense	0.98	2.21	1.95	-0.03	-2.04	1.01	-1.02	2.92	1.38	1.15
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.66	0.72	0.77	0.78	0.76	0.73	0.70	0.71	0.75	0.76
Accounts Receivable Turnover	7.55	8.74	9.10	9.44	8.75	8.04	8.14	8.39	8.83	7.93
Inventory Turnover	6.30	6.43	7.28	7.26	6.31	6.58	6.35	6.64	6.19	7.05
Fixed Asset Turnover	1.40	1.49	1.58	1.57	1.52	1.48	1.42	1.45	1.51	1.56
Accounts Payable Turnover	10.06	9.56	9.56	9.22	9.93	8.88	9.37	8.08	8.72	7.66
Days Sales Outstanding (DSO)	48.32	41.78	40.11	38.68	41.70	45.42	44.84	43.52	41.32	46.06
Days Inventory Outstanding (DIO)	57.91	56.78	50.11	50.31	57.84	55.48	57.52	54.97	59.01	51.77
Days Payable Outstanding (DPO)	36.28	38.17	38.18	39.57	36.75	41.09	38.96	45.17	41.87	47.66
Cash Conversion Cycle (CCC)	69.95	60.39	52.05	49.42	62.79	59.81	63.40	53.31	58.46	50.17
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,521	1,531	1,508	1,491	1,508	1,448	1,466	1,419	1,370	1,329
Invested Capital Turnover	1.08	1.15	1.22	1.21	1.14	1.10	1.05	1.10	1.13	1.17
Increase / (Decrease) in Invested Capital	102	79	22	-27	-13	-82	-42	-73	-138	-119
Enterprise Value (EV)	978	1,315	1,079	956	953	966	1,037	1,020	1,197	1,159
Market Capitalization	237	614	403	279	231	265	313	357	560	544
Book Value per Share	$12.19	$12.96	$12.95	$12.50	$12.02	$11.42	$11.34	$11.52	$11.12	$10.83
Tangible Book Value per Share	$11.78	$12.58	$12.60	$12.18	$11.73	$11.16	$11.10	$11.30	$10.94	$10.67
Total Capital	1,652	1,682	1,677	1,648	1,535	1,524	1,520	1,533	1,506	1,454
Total Debt	873	853	846	834	749	777	779	778	773	730
Total Long-Term Debt	851	839	831	753	730	752	756	753	748	706
Net Debt	741	701	676	677	722	702	724	664	637	605
Capital Expenditures (CapEx)	28	24	21	33	41	32	33	25	22	28
Debt-free, Cash-free Net Working Capital (DFCFNWC)	238	199	186	154	175	149	182	169	155	99
Debt-free Net Working Capital (DFNWC)	369	350	356	311	203	225	236	283	291	224
Net Working Capital (NWC)	348	336	341	229	184	199	213	258	265	201
Net Nonoperating Expense (NNE)	1.94	34	10	12	15	19	14	20	21	24
Net Nonoperating Obligations (NNO)	741	701	676	677	722	702	724	664	637	605
Total Depreciation and Amortization (D&A)	35	38	35	32	36	36	33	34	35	35
Debt-free, Cash-free Net Working Capital to Revenue	14.93%	11.57%	10.16%	8.46%	10.19%	9.05%	11.60%	10.59%	9.49%	6.07%
Debt-free Net Working Capital to Revenue	23.21%	20.41%	19.41%	17.09%	11.77%	13.66%	15.10%	17.73%	17.83%	13.75%
Net Working Capital to Revenue	21.85%	19.56%	18.63%	12.61%	10.69%	12.12%	13.62%	16.17%	16.26%	12.32%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.47	$0.05	$0.02	($0.26)	($0.39)	($0.94)	($0.02)	$0.17	($0.49)	($0.25)
Adjusted Weighted Average Basic Shares Outstanding	63.97M	64.20M	65.12M	65.34M	65.34M	65.40M	65.58M	65.89M	65.92M	65.97M
Adjusted Diluted Earnings per Share	$0.45	$0.07	$0.02	($0.26)	($0.39)	($0.94)	($0.02)	$0.17	($0.49)	($0.25)
Adjusted Weighted Average Diluted Shares Outstanding	63.97M	64.20M	65.12M	65.34M	65.34M	65.40M	65.58M	65.89M	65.92M	65.97M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	63.97M	64.20M	65.12M	65.34M	65.34M	65.40M	65.58M	65.89M	65.92M	65.97M
Normalized Net Operating Profit after Tax (NOPAT)	20	11	12	-4.52	-10	-43	12	24	11	7.71
Normalized NOPAT Margin	4.28%	2.28%	2.49%	-1.17%	-2.74%	-10.10%	3.08%	5.82%	2.83%	1.82%
Pre Tax Income Margin	3.69%	0.36%	-0.07%	-4.72%	-8.59%	-19.48%	-0.41%	1.86%	-9.14%	-4.43%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.05	1.11	0.98	-0.18	-0.51	-2.83	0.92	1.37	-0.79	0.19
NOPAT to Interest Expense	1.92	2.22	0.75	-0.29	-0.48	-1.98	0.57	1.47	-0.57	0.33
EBIT Less CapEx to Interest Expense	0.37	-0.32	-0.39	-2.31	-2.46	-4.34	-0.64	0.17	-1.85	-1.03
NOPAT Less CapEx to Interest Expense	0.24	0.80	-0.62	-2.43	-2.43	-3.49	-0.99	0.27	-1.63	-0.89
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-3.08%

Financials Breakdown Chart

Key Financial Trends

Here are key takeaways from Rayonier Advanced Materials (RYAM) quarterly statements over the last four years (2022–2024), focusing on cash flow, profitability, and leverage.

Strong near-term operating cash flow: In 2024, net cash from continuing operating activities was about $87.6M in Q2 2024, followed by about $54.9M in Q4 2024, with roughly $49.8M in Q3 2024 and $11.3M in Q1 2024, signaling ongoing cash generation.
Net income to common shareholders turns positive in Q2 2024: $11.39M net income attributable to common shareholders, with diluted earnings per share (EPS) of $0.17.
Cash balance rising through 2024: Cash and cash equivalents increased from about $54.6M at the start of 2024 to roughly $136.1M by Q3 2024 (and about $114.1M in Q2 2024), improving liquidity.
Revenue stability in the mid-$400s: 2024 quarterly revenue hovered around $420M, with Q4 2024 at $422.5M and Q2/Q3 also in the $401–$419M range, indicating stabilization after the 2022 peak.
Gross margin in the high single digits to low teens: 2024 gross margins run roughly 8.7%–10.9%, based on Total Gross Profit around $36–37M on $420M+ in revenue in several quarters.
Debt management signals liquidity access: Q4 2024 shows a $440M debt issuance plus a $486.9M debt repayment, illustrating ongoing debt management and liquidity facilities.
Operating income has been positive in several 2024 quarters: Q2 2024 operating income about $28.2M and Q4 2024 about $11.0M, indicating ongoing profitability despite volatility.
Significant quarterly earnings volatility: 2024 Q3 and Q4 posted net income attributable to common shareholders of -$32.6M and -$16.0M, respectively, highlighting earnings sensitivity to charges and interest.
Leverage remains elevated: Total liabilities around $1.43B and equity near $0.73B in mid-2024 imply a leverage ratio around 1.9x, indicating substantial debt relative to equity.
Occasional impairment and debt-related pressures: 2024 Q3 impairment charge of $25.17M and ongoing interest expense, plus large debt repayments, weigh on earnings and cash flow.

05/05/26 06:39 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Rayonier Advanced Materials' Financials

When does Rayonier Advanced Materials' fiscal year end?

According to the most recent income statement we have on file, Rayonier Advanced Materials' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Rayonier Advanced Materials' net income changed over the last 2 years?

Rayonier Advanced Materials' net income appears to be on an upward trend, with a most recent value of -$38.71 million in 2024, rising from -$14.92 million in 2022. The previous period was -$101.84 million in 2023. View Rayonier Advanced Materials' forecast to see where analysts expect Rayonier Advanced Materials to go next.

What is Rayonier Advanced Materials' operating income?

Rayonier Advanced Materials' total operating income in 2024 was $39.48 million, based on the following breakdown:

Total Gross Profit: $165.58 million
Total Operating Expenses: $126.10 million

How has Rayonier Advanced Materials' revenue changed over the last 2 years?

Over the last 2 years, Rayonier Advanced Materials' total revenue changed from $1.72 billion in 2022 to $1.63 billion in 2024, a change of -5.1%.

How much debt does Rayonier Advanced Materials have?

Rayonier Advanced Materials' total liabilities were at $1.41 billion at the end of 2024, a 2.2% decrease from 2023, and a 7.4% decrease since 2022.

How much cash does Rayonier Advanced Materials have?

In the past 2 years, Rayonier Advanced Materials' cash and equivalents has ranged from $75.77 million in 2023 to $151.80 million in 2022, and is currently $125.22 million as of their latest financial filing in 2024.

How has Rayonier Advanced Materials' book value per share changed over the last 2 years?

Over the last 2 years, Rayonier Advanced Materials' book value per share changed from 12.96 in 2022 to 10.83 in 2024, a change of -16.5%.

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Financial statements for NYSE:RYAM last updated on 4/6/2025 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Rayonier Advanced Materials (RYAM) Financials

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Rayonier Advanced Materials (RYAM) Financials

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