Rayonier (RYN) Financials

$23.21 -0.46 (-1.94%)

Closing price 03:59 PM Eastern

Extended Trading

$23.19 -0.02 (-0.09%)

As of 05:10 PM Eastern

Annual Income Statements for Rayonier

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	46	212	149	102	59	37	153	107	173	359
Consolidated Net Income / (Loss)	44	218	162	117	68	30	210	123	178	369
Net Income / (Loss) Continuing Operations	44	218	162	117	68	30	210	123	178	369
Total Pre-Tax Income	43	223	183	143	81	37	225	132	184	376
Total Operating Income	78	256	215	170	107	74	270	166	211	402
Total Gross Profit	127	289	251	211	153	147	313	221	294	478
Total Revenue	569	816	820	816	712	859	1,110	909	1,057	1,263
Operating Revenue	569	816	820	816	712	859	1,110	909	1,057	1,263
Total Cost of Revenue	442	526	568	605	558	712	796	688	763	785
Operating Cost of Revenue	442	526	568	605	558	712	796	688	763	785
Total Operating Expenses	49	34	36	41	46	72	44	55	83	76
Selling, General & Admin Expense	46	43	40	42	42	51	58	65	75	74
Other Operating Expenses / (Income)	3.55	-9.09	-4.39	-1.14	4.53	22	-14	-9.70	8.31	1.28
Total Other Income / (Expense), net	-35	-33	-32	-28	-26	-38	-45	-34	-28	-26
Interest Expense	32	32	34	32	32	39	45	36	48	37
Other Income / (Expense), net	-3.00	-0.70	1.84	4.56	5.31	1.17	0.28	2.57	21	10
Income Tax Expense	-0.86	5.06	22	25	13	7.01	15	9.39	5.12	7.05
Net Income / (Loss) Attributable to Noncontrolling Interest	-2.22	5.80	13	15	8.57	-7.30	58	16	5.00	9.84
Basic Earnings per Share	$0.37	$1.73	$1.17	$1.58	$0.92	$0.28	$1.08	$0.73	$1.17	$2.41
Weighted Average Basic Shares Outstanding	125.39M	122.59M	127.37M	129.49M	129.33M	142.11M	148.68M	150.49M	150.74M	158.19M
Diluted Earnings per Share	$0.37	$1.73	$1.16	$1.58	$0.92	$0.27	$1.08	$0.73	$1.17	$2.39
Weighted Average Diluted Shares Outstanding	125.39M	122.59M	127.37M	129.49M	129.33M	142.11M	148.68M	150.49M	150.74M	158.19M
Weighted Average Basic & Diluted Shares Outstanding	125.39M	122.59M	127.37M	129.49M	129.33M	142.11M	148.68M	150.49M	150.74M	158.19M
Cash Dividends to Common per Share	$1.00	$1.00	$1.00	$1.06	$1.08	$1.08	$1.08	$1.13	$1.34	$2.94

This table shows Rayonier's 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	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	21	33	8.30	19	19	127	1.36	1.90	29	327
Consolidated Net Income / (Loss)	32	35	7.44	19	23	129	2.31	3.04	30	333
Net Income / (Loss) Continuing Operations	32	35	7.44	19	23	129	2.31	3.04	30	333
Total Pre-Tax Income	33	36	8.48	19	23	133	1.47	3.54	30	341
Total Operating Income	41	44	11	20	35	145	16	12	28	346
Total Gross Profit	43	64	30	40	56	168	35	35	48	361
Total Revenue	195	245	179	209	202	467	168	174	195	726
Operating Revenue	195	245	179	209	202	467	168	174	195	726
Total Cost of Revenue	152	181	149	168	146	299	133	139	147	366
Operating Cost of Revenue	152	181	149	168	146	299	133	139	147	366
Total Operating Expenses	2.31	20	19	20	21	23	19	22	20	14
Selling, General & Admin Expense	17	16	17	19	19	20	19	21	18	17
Other Operating Expenses / (Income)	-15	4.69	2.52	1.40	1.65	2.74	-0.27	1.89	1.91	-2.26
Total Other Income / (Expense), net	-7.80	-8.16	-2.15	-0.81	-12	-13	-15	-8.91	2.87	-5.66
Interest Expense	9.06	9.73	12	12	13	12	9.74	9.81	10	7.34
Other Income / (Expense), net	1.25	1.58	9.55	12	0.53	-1.05	-4.99	0.91	13	1.68
Income Tax Expense	1.24	1.33	1.04	0.19	0.55	3.34	-0.83	0.50	0.04	7.35
Net Income / (Loss) Attributable to Noncontrolling Interest	11	1.57	-0.86	0.07	3.50	2.29	0.95	1.13	1.68	6.07
Basic Earnings per Share	$0.14	$0.23	$0.06	$0.13	$0.13	$0.85	$0.01	$0.01	$0.19	$2.20
Weighted Average Basic Shares Outstanding	149.63M	150.49M	150.70M	150.74M	150.74M	150.74M	150.97M	151.01M	151.01M	158.19M
Diluted Earnings per Share	$0.14	$0.23	$0.06	$0.13	$0.13	$0.85	$0.01	$0.01	$0.19	$2.18
Weighted Average Diluted Shares Outstanding	149.63M	150.49M	150.70M	150.74M	150.74M	150.74M	150.97M	151.01M	151.01M	158.19M
Weighted Average Basic & Diluted Shares Outstanding	149.63M	150.49M	150.70M	150.74M	150.74M	150.74M	150.97M	151.01M	151.01M	158.19M

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-110	82	15	-148	-86	18	282	-254	93	135
Net Cash From Operating Activities	177	204	256	310	214	204	325	269	298	262
Net Cash From Continuing Operating Activities	177	204	256	310	214	204	325	269	298	262
Net Income / (Loss) Continuing Operations	44	218	162	117	68	30	210	123	178	369
Consolidated Net Income / (Loss)	44	218	162	117	68	30	210	123	178	369
Depreciation Expense	114	115	128	144	128	165	156	147	158	140
Amortization Expense	4.01	2.05	0.47	0.68	0.45	0.87	1.17	0.75	0.01	0.00
Non-Cash Adjustments To Reconcile Net Income	17	-127	-48	30	19	25	-70	25	-57	-226
Changes in Operating Assets and Liabilities, net	-1.97	-4.06	15	18	-1.58	-16	27	-27	19	-21
Net Cash From Investing Activities	-166	-235	-235	-133	-219	-214	-26	-516	124	354
Net Cash From Continuing Investing Activities	-166	-235	-235	-133	-219	-214	-26	-516	124	354
Purchase of Property, Plant & Equipment	-58	-65	-71	-62	-64	-67	-76	-75	-81	-80
Sale of Property, Plant & Equipment	0.00	204	95	0.00	0.00	116	240	29	240	485
Other Investing Activities, net	-111	-373	-259	-71	-155	-32	-191	-471	-34	-51
Net Cash From Financing Activities	-116	114	-6.87	-194	-80	27	-16	-4.59	-329	-479
Net Cash From Continuing Financing Activities	-116	114	-6.87	-325	-80	27	-16	-4.59	-329	-479
Repayment of Debt	-366	-460	-100	-54	-0.13	-154	-431	-533	-150	-250
Repurchase of Common Equity	-100	-0.69	-0.18	-2.98	-4.25	-1.61	-1.62	-4.23	-4.22	-4.18
Payment of Dividends	-125	-123	-127	-285	-141	-146	-154	-166	-170	-201
Issuance of Debt	473	696	63	9.61	82	320	446	657	0.00	0.00
Issuance of Common Equity	2.12	1.58	157	8.59	1.26	34	237	64	-0.01	0.00
Other Financing Activities, net	-	0.00	0.00	2.03	-17	-25	-113	-23	-4.66	-25
Other Net Changes in Cash	-	-0.94	0.58	-	-1.70	-0.02	-0.89	-1.97	-0.62	-1.42
Cash Interest Paid	33	36	36	33	33	41	43	36	49	39
Cash Income Taxes Paid	0.28	0.50	0.51	2.15	1.69	0.82	7.39	15	4.82	5.88

This table details how cash moves in and out of Rayonier's 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	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Change in Cash & Equivalents	-17	-164	-12	-10	16	99	-48	-18	-65	266
Net Cash From Operating Activities	61	59	64	62	83	89	52	55	66	88
Net Cash From Continuing Operating Activities	61	59	64	62	83	89	52	55	66	88
Net Income / (Loss) Continuing Operations	32	35	7.44	19	23	129	2.31	3.04	30	333
Consolidated Net Income / (Loss)	32	35	7.44	19	23	129	2.31	3.04	30	333
Depreciation Expense	31	33	38	40	37	44	37	36	33	34
Non-Cash Adjustments To Reconcile Net Income	6.87	-6.37	9.01	14	9.95	-90	12	11	14	-264
Changes in Operating Assets and Liabilities, net	-8.62	-2.28	9.91	-10	13	5.92	1.07	4.88	-12	-15
Net Cash From Investing Activities	-21	-461	-32	-24	-23	204	-24	-23	-27	429
Net Cash From Continuing Investing Activities	-21	-461	-32	-24	-23	204	-24	-23	-27	429
Purchase of Property, Plant & Equipment	-18	-27	-19	-18	-16	-28	-19	-18	-16	-27
Other Investing Activities, net	-3.51	-463	-13	-6.22	-6.87	-7.82	-5.18	-5.32	-11	-29
Net Cash From Financing Activities	-53	233	-43	-48	-43	-195	-75	-50	-105	-249
Net Cash From Continuing Financing Activities	-53	233	-43	-48	-43	-195	-75	-50	-105	-249
Repayment of Debt	1.46	-0.74	-	-	-	-150	-	-	-	-190
Repurchase of Common Equity	-0.02	-	-0.04	-4.15	-0.03	-	-0.03	-4.13	-0.00	-0.01
Payment of Dividends	-42	-42	-42	-43	-42	-42	-72	-43	-43	-42
Other Financing Activities, net	-11	-3.88	-0.86	-0.71	-0.70	-2.40	-2.80	-2.63	-2.24	-17
Other Net Changes in Cash	-3.79	4.07	-0.36	-0.51	-0.06	0.31	-0.96	0.06	0.76	-1.28
Cash Interest Paid	7.23	12	3.80	17	11	17	0.80	15	9.17	14
Cash Income Taxes Paid	0.30	0.50	2.20	1.49	0.96	0.17	1.85	1.99	1.65	0.38

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	2,316	2,686	2,858	2,781	5,722	3,729	113	3,789	3,648	3,474
Total Current Assets	106	165	184	208	252	171	6.34	202	317	437
Cash & Equivalents	52	86	113	148	137	85	-	114	208	323
Restricted Cash	-	-	-	-	-	-	6.34	-	-	19
Accounts Receivable	20	21	28	26	54	49	-	43	40	40
Inventories, net	15	21	24	16	29	11	-	24	31	32
Prepaid Expenses	13	12	16	17	29	16	-	21	19	16
Other Current Assets	5.68	25	3.05	0.61	1.73	6.77	-	0.57	9.07	0.68
Other Current Nonoperating Assets	-	-	-	-	0.00	3.45	-	0.71	9.93	5.37
Plant, Property, & Equipment, net	2,139	84	104	108	208	30	0.00	27	27	18
Plant, Property & Equipment, gross	16	23	33	31	64	43	-	45	46	38
Accumulated Depreciation	9.07	9.06	9.27	7.98	19	12	-	18	19	19
Total Noncurrent Assets	71	2,437	2,571	2,464	5,262	3,525	107	3,560	3,304	3,019
Long-Term Investments	24	72	60	8.08	2.47	0.00	-	1.15	0.68	0.68
Other Noncurrent Operating Assets	48	2,365	2,511	2,456	5,259	3,525	107	3,559	3,303	3,018
Total Liabilities & Shareholders' Equity	2,316	2,686	2,858	2,781	5,722	3,729	1,835	3,789	3,648	3,474
Total Liabilities	954	1,189	1,166	1,126	3,620	1,736	0.00	1,803	1,688	1,642
Total Current Liabilities	59	92	69	64	302	91	0.00	95	140	389
Short-Term Debt	0.00	32	3.38	0.00	164	0.00	-	-	0.00	19
Accounts Payable	21	22	25	18	36	25	-	22	27	26
Current Deferred Revenue	-	9.10	9.72	10	23	11	-	23	19	21
Current Deferred & Payable Income Tax Liabilities	3.69	2.66	3.78	3.18	6.06	7.35	-	3.73	4.39	4.24
Current Employee Benefit Liabilities	7.04	9.28	9.66	10	18	12	-	13	23	16
Other Current Liabilities	21	12	12	16	45	29	-	28	61	297
Other Current Nonoperating Liabilities	6.15	5.34	5.05	5.01	10	6.33	-	5.92	7.09	5.23
Total Noncurrent Liabilities	895	1,097	1,097	1,063	3,317	1,645	0.00	1,708	1,548	1,253
Long-Term Debt	831	1,030	1,022	973	2,919	1,361	-	1,515	1,366	1,090
Noncurrent Deferred Revenue	-	-	-	-	-	-	-	6.90	11	11
Noncurrent Employee Benefit Liabilities	34	32	32	30	51	23	-	8.51	1.44	1.35
Other Noncurrent Operating Liabilities	30	35	43	60	166	161	-	177	82	152
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	-	-	-	0.00	130	-	106	82	52
Total Equity & Noncontrolling Interests	1,362	1,497	1,693	1,655	1,538	1,863	1,816	1,881	1,878	1,781
Total Preferred & Common Equity	1,288	1,412	1,593	1,557	1,440	1,474	1,772	1,865	1,861	1,769
Total Common Equity	1,288	1,412	1,593	1,557	1,440	1,474	1,791	1,865	1,861	1,769
Common Stock	709	710	872	884	888	1,102	1,389	1,463	1,498	1,522
Retained Earnings	613	701	707	672	583	446	402	367	338	257
Accumulated Other Comprehensive Income / (Loss)	-34	0.86	13	0.24	-31	-74	-	36	25	-10
Noncontrolling Interest	74	85	100	98	98	389	44	15	17	11

This table presents Rayonier's 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	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024
Total Assets	3,472	120	3,722	3,708	3,570	3,539	3,479
Total Current Assets	355	0.00	197	223	280	230	277
Cash & Equivalents	262	-	88	108	160	142	74
Accounts Receivable	37	-	50	41	40	40	49
Inventories, net	31	-	32	33	44	24	19
Prepaid Expenses	20	-	19	20	20	20	21
Other Current Assets	0.44	-	2.99	1.93	5.87	3.55	7.70
Other Current Nonoperating Assets	2.36	-	4.16	18	10	1.02	106
Plant, Property, & Equipment, net	28	0.00	26	26	26	26	24
Plant, Property & Equipment, gross	44	-	45	44	46	46	45
Accumulated Depreciation	17	-	19	18	20	20	20
Total Noncurrent Assets	3,089	120	3,498	3,459	3,263	3,283	3,178
Long-Term Investments	16	-	4.96	1.80	0.68	0.68	3.02
Other Noncurrent Operating Assets	3,073	120	3,399	3,457	3,263	3,282	3,175
Total Liabilities & Shareholders' Equity	3,472	1,845	3,722	3,708	3,570	3,539	3,479
Total Liabilities	1,551	11	1,806	1,806	1,655	1,659	1,612
Total Current Liabilities	112	0.00	103	111	114	116	139
Short-Term Debt	0.00	-	-	-	-	-	22
Accounts Payable	27	-	23	26	34	26	29
Current Deferred Revenue	23	-	33	24	21	34	30
Current Deferred & Payable Income Tax Liabilities	8.82	-	6.98	8.92	5.57	5.95	8.31
Current Employee Benefit Liabilities	11	-	7.90	10	7.90	10	11
Other Current Liabilities	36	-	24	31	35	34	30
Other Current Nonoperating Liabilities	7.18	-	7.30	11	9.91	6.30	9.05
Total Noncurrent Liabilities	1,439	11	1,703	1,695	1,541	1,543	1,472
Long-Term Debt	1,258	-	1,512	1,511	1,362	1,364	1,285
Capital Lease Obligations	-	-	86	85	83	84	87
Noncurrent Deferred Revenue	-	11	11	11	15	15	14
Noncurrent Employee Benefit Liabilities	9.66	-	8.40	8.36	1.45	1.45	1.48
Other Noncurrent Operating Liabilities	172	-	85	79	79	78	85
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	96	-	78	70	70	59	65
Total Equity & Noncontrolling Interests	1,825	1,855	1,839	1,832	1,846	1,821	1,803
Total Preferred & Common Equity	1,813	1,841	1,825	1,816	1,831	1,807	1,787
Total Common Equity	1,813	1,820	1,825	1,816	1,831	1,807	1,787
Common Stock	1,431	1,489	1,490	1,494	1,512	1,515	1,520
Retained Earnings	384	330	311	295	297	264	244
Accumulated Other Comprehensive Income / (Loss)	-1.60	-	24	28	22	28	24
Noncontrolling Interest	11	14	13	16	14	14	16

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-5.75%	43.45%	0.45%	-0.42%	-12.81%	20.74%	29.15%	-18.07%	16.27%	19.50%
EBITDA Growth	-24.64%	93.39%	-7.23%	-7.51%	-24.55%	0.17%	76.85%	-25.87%	23.29%	41.77%
EBIT Growth	-16.06%	241.10%	-14.80%	-19.65%	-35.67%	-32.74%	257.40%	-37.65%	37.75%	78.03%
NOPAT Growth	-33.52%	215.07%	-23.99%	-26.33%	-35.81%	-32.98%	318.83%	-38.92%	33.33%	92.28%
Net Income Growth	-55.09%	395.60%	-25.80%	-27.39%	-42.32%	-55.99%	606.71%	-41.66%	45.36%	106.72%
EPS Growth	-51.32%	367.57%	-32.95%	36.21%	-41.77%	-70.65%	300.00%	-32.41%	60.27%	104.27%
Operating Cash Flow Growth	-44.71%	15.04%	25.75%	21.00%	-30.91%	-4.70%	59.23%	-17.20%	10.84%	-12.33%
Free Cash Flow Firm Growth	-88.04%	-125.62%	236.36%	374.92%	-1,340.75%	172.18%	82.25%	-189.07%	112.62%	152.77%
Invested Capital Growth	-2.32%	13.34%	6.01%	-2.95%	111.54%	-35.67%	-96.83%	3,072.77%	-5.59%	-18.84%
Revenue Q/Q Growth	2.46%	11.95%	-1.01%	-8.27%	-19.48%	32.66%	5.36%	-1.79%	26.59%	25.78%
EBITDA Q/Q Growth	1.28%	14.62%	5.42%	-17.39%	-4.69%	17.43%	0.10%	3.45%	38.90%	53.74%
EBIT Q/Q Growth	6.92%	21.40%	9.20%	-27.05%	-14.93%	54.02%	4.40%	7.69%	73.73%	97.38%
NOPAT Q/Q Growth	-9.64%	20.86%	9.53%	-31.44%	-13.93%	89.42%	3.68%	7.93%	93.27%	99.65%
Net Income Q/Q Growth	2.58%	23.24%	11.30%	-34.67%	-10.72%	114.35%	4.53%	11.97%	112.70%	123.62%
EPS Q/Q Growth	2.78%	21.83%	9.43%	24.41%	-28.13%	-68.24%	-21.74%	942.86%	112.73%	125.47%
Operating Cash Flow Q/Q Growth	-1.44%	3.10%	13.02%	-6.16%	0.48%	8.58%	-5.39%	4.52%	11.24%	-0.62%
Free Cash Flow Firm Q/Q Growth	-14.07%	64.79%	902.76%	-27.06%	-3,962.54%	340.31%	256.52%	-201.41%	206.39%	102.91%
Invested Capital Q/Q Growth	0.59%	-0.23%	-1.16%	-0.57%	107.40%	0.29%	-98.17%	16.77%	-5.32%	-15.84%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	22.34%	35.48%	30.67%	25.84%	21.53%	17.08%	28.25%	24.29%	27.85%	37.86%
EBITDA Margin	33.84%	45.63%	42.14%	39.14%	33.87%	28.10%	38.48%	34.81%	36.92%	43.80%
Operating Margin	13.68%	31.35%	26.29%	20.84%	15.04%	8.66%	24.31%	18.24%	19.99%	31.87%
EBIT Margin	13.15%	31.26%	26.52%	21.40%	15.79%	8.79%	24.34%	18.52%	21.95%	32.70%
Profit (Net Income) Margin	7.73%	26.69%	19.71%	14.38%	9.51%	3.47%	18.97%	13.51%	16.89%	29.21%
Tax Burden Percent	101.99%	97.73%	88.17%	82.30%	83.95%	80.95%	93.49%	92.90%	97.21%	98.13%
Interest Burden Percent	57.61%	87.36%	84.32%	81.64%	71.77%	48.69%	83.37%	78.50%	79.16%	91.06%
Effective Tax Rate	-1.99%	2.27%	11.83%	17.70%	16.05%	19.05%	6.51%	7.10%	2.79%	1.87%
Return on Invested Capital (ROIC)	3.69%	11.04%	7.67%	5.57%	2.33%	1.40%	14.51%	8.81%	6.23%	13.62%
ROIC Less NNEP Spread (ROIC-NNEP)	-1.51%	7.18%	4.45%	2.87%	1.35%	0.20%	39.60%	29.36%	4.20%	11.04%
Return on Net Nonoperating Assets (RNNOA)	-0.70%	4.20%	2.47%	1.44%	1.91%	0.29%	-3.46%	-2.35%	2.82%	5.84%
Return on Equity (ROE)	2.99%	15.24%	10.13%	7.01%	4.24%	1.69%	11.05%	6.46%	9.05%	19.46%
Cash Return on Invested Capital (CROIC)	6.04%	-1.47%	1.83%	8.57%	-69.27%	44.81%	202.21%	-178.97%	11.98%	34.42%
Operating Return on Assets (OROA)	3.14%	10.20%	7.84%	6.19%	2.64%	1.60%	14.06%	8.63%	6.24%	11.60%
Return on Assets (ROA)	1.84%	8.71%	5.83%	4.16%	1.59%	0.63%	10.96%	6.29%	4.80%	10.36%
Return on Common Equity (ROCE)	2.83%	14.39%	9.54%	6.60%	3.98%	1.39%	9.48%	6.21%	8.54%	18.63%
Return on Equity Simple (ROE_SIMPLE)	3.41%	15.43%	10.14%	7.54%	4.70%	2.02%	11.88%	6.58%	9.59%	20.85%
Net Operating Profit after Tax (NOPAT)	79	250	190	140	90	60	252	154	205	395
NOPAT Margin	13.95%	30.64%	23.18%	17.15%	12.63%	7.01%	22.73%	16.95%	19.43%	31.27%
Net Nonoperating Expense Percent (NNEP)	5.21%	3.85%	3.22%	2.70%	0.98%	1.20%	-25.09%	-20.55%	2.03%	2.58%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	4.54%	6.17%	13.67%
Cost of Revenue to Revenue	77.66%	64.52%	69.33%	74.16%	78.47%	82.92%	71.75%	75.71%	72.15%	62.14%
SG&A Expenses to Revenue	8.04%	5.24%	4.91%	5.14%	5.85%	5.89%	5.21%	7.11%	7.07%	5.89%
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	8.67%	4.13%	4.37%	5.00%	6.49%	8.42%	3.94%	6.05%	7.86%	5.99%
Earnings before Interest and Taxes (EBIT)	75	255	217	175	112	76	270	168	232	413
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	192	372	345	319	241	241	427	316	390	553
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.57	1.78	2.03	1.89	2.50	2.49	3.02	2.30	2.46	2.23
Price to Tangible Book Value (P/TBV)	1.57	1.78	2.03	1.89	2.50	2.49	3.02	2.30	2.46	2.23
Price to Revenue (P/Rev)	3.57	3.08	3.95	3.60	5.06	4.27	4.88	4.72	4.33	3.12
Price to Earnings (P/E)	43.93	11.84	21.78	28.75	60.91	98.98	35.52	40.08	26.36	10.97
Dividend Yield	6.10%	4.90%	3.98%	4.67%	3.88%	4.15%	2.93%	3.92%	4.42%	12.03%
Earnings Yield	2.28%	8.45%	4.59%	3.48%	1.64%	1.01%	2.82%	2.49%	3.79%	9.11%
Enterprise Value to Invested Capital (EV/IC)	1.35	1.45	1.64	1.56	1.30	1.65	51.05	1.71	1.85	1.84
Enterprise Value to Revenue (EV/Rev)	5.02	4.29	5.12	4.72	9.59	6.48	4.92	6.39	5.60	3.78
Enterprise Value to EBITDA (EV/EBITDA)	14.84	9.40	12.14	12.06	28.31	23.05	12.78	18.37	15.16	8.62
Enterprise Value to EBIT (EV/EBIT)	38.20	13.72	19.30	22.06	60.73	73.65	20.20	34.52	25.51	11.55
Enterprise Value to NOPAT (EV/NOPAT)	36.01	14.00	22.07	27.53	75.93	92.42	21.63	37.73	28.80	12.08
Enterprise Value to Operating Cash Flow (EV/OCF)	16.13	17.17	16.36	12.42	31.84	27.26	16.78	21.59	19.83	18.24
Enterprise Value to Free Cash Flow (EV/FCFF)	22.02	0.00	92.51	17.89	0.00	2.89	1.55	0.00	14.98	4.78
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.61	0.71	0.61	0.59	2.12	0.73	0.00	0.76	0.74	0.61
Long-Term Debt to Equity	0.61	0.69	0.60	0.59	2.02	0.73	0.00	0.76	0.74	0.59
Financial Leverage	0.46	0.58	0.55	0.50	1.42	1.44	-0.09	-0.08	0.67	0.53
Leverage Ratio	1.62	1.75	1.74	1.68	2.66	2.68	1.01	1.03	1.88	1.88
Compound Leverage Factor	0.94	1.53	1.47	1.38	1.91	1.30	0.84	0.81	1.49	1.71
Debt to Total Capital	37.89%	41.50%	37.72%	37.02%	67.98%	42.30%	0.00%	43.26%	42.59%	37.71%
Short-Term Debt to Total Capital	0.00%	1.24%	0.12%	0.00%	3.42%	0.00%	0.00%	0.00%	0.00%	0.66%
Long-Term Debt to Total Capital	37.89%	40.26%	37.60%	37.02%	64.56%	42.30%	0.00%	43.26%	42.59%	37.05%
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	3.36%	3.33%	3.68%	3.72%	2.03%	15.02%	2.41%	3.46%	2.89%	2.14%
Common Equity to Total Capital	58.76%	55.17%	58.60%	59.26%	29.99%	42.68%	98.67%	53.28%	54.52%	60.15%
Debt to EBITDA	4.31	2.85	2.97	3.04	13.54	6.05	0.00	4.79	3.72	2.01
Net Debt to EBITDA	3.92	2.43	2.47	2.55	12.96	5.70	0.00	4.42	3.19	1.38
Long-Term Debt to EBITDA	4.31	2.77	2.96	3.04	12.86	6.05	0.00	4.79	3.72	1.97
Debt to NOPAT	10.47	4.25	5.40	6.95	36.33	24.26	0.00	9.83	7.08	2.81
Net Debt to NOPAT	9.52	3.62	4.49	5.83	34.77	22.85	0.00	9.08	6.06	1.94
Long-Term Debt to NOPAT	10.47	4.12	5.38	6.95	34.51	24.26	0.00	9.83	7.08	2.76
Altman Z-Score	2.02	2.28	2.60	2.47	0.92	1.76	0.00	1.98	2.31	2.32
Noncontrolling Interest Sharing Ratio	5.46%	5.56%	5.80%	5.90%	6.12%	17.46%	14.26%	3.82%	5.57%	4.27%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.78	1.79	2.68	3.27	0.83	1.87	0.00	2.12	2.26	1.12
Quick Ratio	1.21	1.16	2.05	2.75	0.63	1.47	0.00	1.64	1.77	0.93
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	130	-33	45	215	-2,671	1,928	3,514	-3,130	395	998
Operating Cash Flow to CapEx	304.44%	0.00%	0.00%	497.55%	334.79%	0.00%	0.00%	594.04%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	4.09	-1.03	1.33	6.71	-84.23	49.74	78.26	-86.45	8.17	27.04
Operating Cash Flow to Interest Expense	5.59	6.32	7.52	9.67	6.76	5.27	7.24	7.43	6.17	7.09
Operating Cash Flow Less CapEx to Interest Expense	3.75	10.63	8.22	7.73	4.74	6.53	10.90	6.18	9.45	18.06
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.24	0.33	0.30	0.29	0.17	0.18	0.58	0.47	0.28	0.35
Accounts Receivable Turnover	25.71	39.91	33.90	30.31	17.70	16.63	0.00	0.00	25.56	31.43
Inventory Turnover	37.22	28.67	24.97	30.38	24.96	35.95	0.00	0.00	27.86	24.77
Fixed Asset Turnover	0.26	0.73	8.69	7.68	4.50	7.21	0.00	0.00	39.00	55.66
Accounts Payable Turnover	21.19	24.03	23.93	28.04	20.55	23.32	0.00	0.00	31.34	29.83
Days Sales Outstanding (DSO)	14.19	9.15	10.77	12.04	20.62	21.95	0.00	0.00	14.28	11.61
Days Inventory Outstanding (DIO)	9.81	12.73	14.62	12.01	14.62	10.15	0.00	0.00	13.10	14.73
Days Payable Outstanding (DPO)	17.22	15.19	15.25	13.02	17.76	15.65	0.00	0.00	11.65	12.24
Cash Conversion Cycle (CCC)	6.78	6.69	10.14	11.04	17.48	16.45	0.00	0.00	15.74	14.11
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,123	2,406	2,551	2,476	5,237	3,369	107	3,391	3,201	2,598
Invested Capital Turnover	0.26	0.36	0.33	0.32	0.18	0.20	0.64	0.52	0.32	0.44
Increase / (Decrease) in Invested Capital	-50	283	145	-75	2,761	-1,868	-3,262	3,284	-189	-603
Enterprise Value (EV)	2,857	3,499	4,194	3,853	6,822	5,565	5,456	5,812	5,916	4,770
Market Capitalization	2,028	2,510	3,241	2,939	3,600	3,670	5,418	4,292	4,572	3,941
Book Value per Share	$10.41	$11.49	$12.36	$12.03	$11.14	$10.46	$12.19	$12.47	$12.34	$11.72
Tangible Book Value per Share	$10.41	$11.49	$12.36	$12.03	$11.14	$10.46	$12.19	$12.47	$12.34	$11.72
Total Capital	2,192	2,559	2,718	2,627	4,802	3,454	1,816	3,501	3,413	2,942
Total Debt	831	1,062	1,025	973	3,264	1,461	0.00	1,515	1,453	1,109
Total Long-Term Debt	831	1,030	1,022	973	3,100	1,461	0.00	1,515	1,453	1,090
Net Debt	755	904	853	816	3,124	1,376	-6.34	1,399	1,245	766
Capital Expenditures (CapEx)	58	-139	-24	62	64	-49	-164	45	-158	-405
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-5.55	19	5.70	-4.06	-24	-5.08	0.00	-7.20	-31	-275
Debt-free Net Working Capital (DFNWC)	46	105	118	144	114	79	6.34	107	177	68
Net Working Capital (NWC)	46	73	115	144	-50	79	6.34	107	177	48
Net Nonoperating Expense (NNE)	35	32	28	23	22	30	42	31	27	26
Net Nonoperating Obligations (NNO)	761	910	858	821	3,699	1,376	-1,709	1,405	1,242	766
Total Depreciation and Amortization (D&A)	118	117	128	145	129	166	157	148	158	140
Debt-free, Cash-free Net Working Capital to Revenue	-0.98%	2.28%	0.70%	-0.50%	-3.36%	-0.59%	0.00%	-0.79%	-2.93%	-21.77%
Debt-free Net Working Capital to Revenue	8.13%	12.81%	14.44%	17.68%	15.96%	9.25%	0.57%	11.78%	16.72%	5.35%
Net Working Capital to Revenue	8.13%	8.93%	14.03%	17.68%	-7.09%	9.25%	0.57%	11.78%	16.72%	3.82%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.37	$1.73	$1.17	$0.79	$0.46	$0.56	$2.16	$0.73	$1.17	$2.41
Adjusted Weighted Average Basic Shares Outstanding	122.74M	122.95M	129.08M	129.49M	129.33M	142.11M	148.68M	150.49M	150.74M	158.19M
Adjusted Diluted Earnings per Share	$0.37	$1.73	$1.16	$0.79	$0.46	$0.54	$2.16	$0.73	$1.17	$2.39
Adjusted Weighted Average Diluted Shares Outstanding	122.74M	122.95M	129.08M	129.49M	129.33M	142.11M	148.68M	150.49M	150.74M	158.19M
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	122.74M	122.95M	129.08M	129.49M	129.33M	142.11M	148.68M	150.49M	150.74M	158.19M
Normalized Net Operating Profit after Tax (NOPAT)	54	250	190	140	90	60	252	154	205	395
Normalized NOPAT Margin	9.57%	30.64%	23.18%	17.15%	12.63%	7.01%	22.73%	16.95%	19.43%	31.27%
Pre Tax Income Margin	7.57%	27.31%	22.36%	17.47%	11.33%	4.28%	20.29%	14.54%	17.37%	29.77%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.36	7.91	6.38	5.45	3.54	1.95	6.01	4.65	4.80	11.19
NOPAT to Interest Expense	2.50	7.75	5.58	4.36	2.83	1.55	5.62	4.25	4.25	10.70
EBIT Less CapEx to Interest Expense	0.52	12.22	7.08	3.50	1.52	3.22	9.68	3.40	8.08	22.16
NOPAT Less CapEx to Interest Expense	0.67	12.06	6.28	2.42	0.82	2.82	9.28	3.00	7.53	21.67
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	284.33%	56.41%	78.64%	242.66%	208.44%	491.36%	72.93%	134.95%	95.24%	54.36%
Augmented Payout Ratio	511.90%	56.73%	78.75%	245.21%	214.72%	496.75%	73.70%	138.39%	97.60%	55.49%

This table displays calculated financial ratios and metrics derived from Rayonier's 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	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-46.46%	-6.33%	-19.35%	-15.21%	3.22%	90.47%	-6.13%	-16.88%	-3.27%	55.39%
EBITDA Growth	-53.61%	15.41%	-37.51%	-0.21%	-0.74%	138.06%	-16.40%	-30.82%	1.55%	102.80%
EBIT Growth	-66.16%	35.69%	-55.01%	-11.01%	-14.87%	215.38%	-44.40%	-57.96%	12.86%	141.33%
NOPAT Growth	-67.26%	35.86%	-75.78%	-41.00%	-12.31%	233.05%	172.10%	-46.33%	-20.13%	139.32%
Net Income Growth	-71.17%	60.97%	-76.01%	-24.48%	-28.63%	272.99%	-68.99%	-84.11%	33.87%	157.85%
EPS Growth	-73.58%	153.49%	-70.00%	-18.75%	-7.14%	269.57%	-83.33%	-92.31%	46.15%	156.47%
Operating Cash Flow Growth	-45.63%	24.41%	28.76%	-36.91%	34.64%	50.82%	-18.22%	-11.29%	-19.93%	-1.82%
Free Cash Flow Firm Growth	225.96%	-198.43%	701.16%	77.86%	-114.85%	110.21%	-205.61%	161.83%	172.63%	184.56%
Invested Capital Growth	-50.34%	3,072.77%	-96.39%	13.82%	16.44%	-5.59%	2,852.51%	-6.84%	-8.70%	-18.84%
Revenue Q/Q Growth	-20.73%	25.66%	-27.02%	16.63%	-3.49%	131.87%	-64.04%	3.28%	12.32%	272.47%
EBITDA Q/Q Growth	2.49%	7.66%	-26.88%	23.69%	1.95%	158.20%	-74.32%	2.36%	49.64%	415.62%
EBIT Q/Q Growth	18.17%	8.43%	-55.86%	57.35%	13.04%	301.71%	-92.22%	18.97%	203.45%	759.02%
NOPAT Q/Q Growth	16.73%	7.94%	-78.07%	113.53%	73.49%	309.96%	-82.08%	-57.88%	158.15%	1,128.46%
Net Income Q/Q Growth	26.00%	8.74%	-78.53%	156.77%	19.08%	468.26%	-98.22%	31.61%	903.03%	994.54%
EPS Q/Q Growth	-12.50%	64.29%	-73.91%	116.67%	0.00%	553.85%	-98.82%	0.00%	1,800.00%	1,047.37%
Operating Cash Flow Q/Q Growth	-37.94%	-3.35%	7.84%	-2.47%	32.45%	8.26%	-41.53%	5.80%	19.56%	32.75%
Free Cash Flow Firm Q/Q Growth	266.81%	-208.66%	189.55%	-113.64%	-11.87%	174.74%	-1,026.09%	107.98%	31.41%	192.83%
Invested Capital Q/Q Growth	-3.49%	16.77%	-96.80%	3,060.37%	-1.26%	-5.32%	-0.06%	-0.28%	-3.24%	-15.84%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	22.13%	26.28%	16.71%	19.37%	27.76%	35.95%	20.77%	20.12%	24.51%	49.64%
EBITDA Margin	37.58%	32.20%	32.26%	34.21%	36.14%	40.24%	28.73%	28.48%	37.94%	52.52%
Operating Margin	20.95%	17.98%	5.93%	9.62%	17.54%	31.07%	9.64%	7.17%	14.16%	47.67%
EBIT Margin	21.59%	18.63%	11.27%	15.20%	17.80%	30.84%	6.67%	7.69%	20.77%	47.90%
Profit (Net Income) Margin	16.32%	14.12%	4.15%	9.14%	11.28%	27.65%	1.37%	1.75%	15.61%	45.88%
Tax Burden Percent	96.26%	96.30%	87.74%	99.00%	97.65%	97.48%	156.45%	85.86%	99.89%	97.84%
Interest Burden Percent	78.52%	78.71%	42.01%	60.76%	64.89%	91.96%	13.14%	26.49%	75.26%	97.89%
Effective Tax Rate	3.74%	3.70%	12.26%	1.00%	2.35%	2.52%	-56.45%	14.14%	0.11%	2.16%
Return on Invested Capital (ROIC)	4.27%	9.00%	2.90%	2.45%	4.55%	9.71%	9.54%	1.88%	4.39%	20.31%
ROIC Less NNEP Spread (ROIC-NNEP)	3.95%	14.17%	3.04%	2.39%	3.59%	8.78%	19.52%	1.34%	4.60%	19.76%
Return on Net Nonoperating Assets (RNNOA)	4.70%	-1.13%	-1.40%	1.59%	2.31%	5.89%	-2.39%	0.99%	3.30%	10.47%
Return on Equity (ROE)	8.97%	7.87%	1.50%	4.05%	6.86%	15.60%	7.15%	2.87%	7.69%	30.78%
Cash Return on Invested Capital (CROIC)	70.53%	-178.97%	194.10%	-9.47%	-11.81%	11.98%	-174.02%	13.26%	15.21%	34.42%
Operating Return on Assets (OROA)	3.67%	8.68%	5.30%	3.48%	4.14%	8.77%	3.78%	2.14%	5.80%	16.99%
Return on Assets (ROA)	2.77%	6.58%	1.96%	2.09%	2.62%	7.86%	0.78%	0.49%	4.36%	16.27%
Return on Common Equity (ROCE)	7.91%	7.57%	0.95%	3.81%	6.52%	14.73%	6.92%	2.75%	7.35%	29.47%
Return on Equity Simple (ROE_SIMPLE)	6.05%	0.00%	5.39%	5.10%	4.62%	0.00%	9.47%	8.71%	9.23%	0.00%
Net Operating Profit after Tax (NOPAT)	39	42	9.32	20	35	142	25	11	28	339
NOPAT Margin	20.16%	17.32%	5.20%	9.53%	17.13%	30.28%	15.09%	6.15%	14.14%	46.64%
Net Nonoperating Expense Percent (NNEP)	0.32%	-5.16%	-0.14%	0.06%	0.96%	0.93%	-9.98%	0.54%	-0.21%	0.55%
Return On Investment Capital (ROIC_SIMPLE)	-	1.25%	-	-	-	4.25%	-	-	-	11.72%
Cost of Revenue to Revenue	77.87%	73.72%	83.29%	80.63%	72.24%	64.05%	79.23%	79.88%	75.49%	50.36%
SG&A Expenses to Revenue	8.65%	6.38%	9.37%	9.07%	9.40%	4.30%	11.29%	11.87%	9.37%	2.28%
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	1.18%	8.30%	10.77%	9.74%	10.22%	4.88%	11.13%	12.96%	10.35%	1.97%
Earnings before Interest and Taxes (EBIT)	42	46	20	32	36	144	11	13	40	348
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	73	79	58	71	73	188	48	49	74	381
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.31	2.30	2.61	2.49	2.27	2.46	2.71	2.43	2.72	2.23
Price to Tangible Book Value (P/TBV)	2.31	2.30	2.61	2.49	2.27	2.46	2.71	2.43	2.72	2.23
Price to Revenue (P/Rev)	4.52	4.72	5.49	5.48	4.93	4.33	4.75	4.35	4.84	3.12
Price to Earnings (P/E)	50.67	40.08	55.25	56.03	51.68	26.36	29.80	29.39	30.57	10.97
Dividend Yield	3.97%	3.92%	3.61%	3.79%	4.18%	4.42%	4.07%	4.61%	4.16%	12.03%
Earnings Yield	1.97%	2.49%	1.81%	1.78%	1.94%	3.79%	3.36%	3.40%	3.27%	9.11%
Enterprise Value to Invested Capital (EV/IC)	1.82	1.71	44.01	1.79	1.68	1.85	1.98	1.81	2.03	1.84
Enterprise Value to Revenue (EV/Rev)	5.70	6.39	5.51	7.40	6.81	5.60	6.05	5.71	6.23	3.78
Enterprise Value to EBITDA (EV/EBITDA)	17.24	18.37	16.96	21.81	20.25	15.16	16.63	16.09	17.39	8.62
Enterprise Value to EBIT (EV/EBIT)	33.73	34.52	33.18	43.88	42.61	25.51	28.39	28.20	29.91	11.55
Enterprise Value to NOPAT (EV/NOPAT)	36.96	37.73	38.17	55.15	53.53	28.80	29.74	28.20	31.63	12.08
Enterprise Value to Operating Cash Flow (EV/OCF)	20.48	21.59	16.82	24.83	21.21	19.83	22.08	20.63	23.77	18.24
Enterprise Value to Free Cash Flow (EV/FCFF)	1.71	0.00	1.58	0.00	0.00	14.98	0.00	13.15	12.72	4.78
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.65	0.76	0.00	0.83	0.84	0.74	0.75	0.77	0.75	0.61
Long-Term Debt to Equity	0.65	0.76	0.00	0.83	0.84	0.74	0.75	0.77	0.73	0.59
Financial Leverage	1.19	-0.08	-0.46	0.67	0.64	0.67	-0.12	0.74	0.72	0.53
Leverage Ratio	2.73	1.03	0.64	1.87	1.88	1.88	0.98	1.91	1.91	1.88
Compound Leverage Factor	2.14	0.81	0.27	1.14	1.22	1.73	0.13	0.51	1.43	1.84
Debt to Total Capital	39.57%	43.26%	0.00%	45.48%	45.63%	42.59%	43.00%	43.50%	42.75%	37.71%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.67%	0.66%
Long-Term Debt to Total Capital	39.57%	43.26%	0.00%	45.48%	45.63%	42.59%	43.00%	43.50%	42.07%	37.05%
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	3.38%	3.46%	0.77%	2.58%	2.46%	2.89%	2.50%	2.20%	2.47%	2.14%
Common Equity to Total Capital	57.05%	53.28%	98.10%	51.93%	51.91%	54.52%	54.50%	54.29%	54.79%	60.15%
Debt to EBITDA	4.11	4.79	0.00	5.68	5.68	3.72	3.80	4.04	3.87	2.01
Net Debt to EBITDA	3.20	4.42	0.00	5.35	5.29	3.19	3.37	3.64	3.66	1.38
Long-Term Debt to EBITDA	4.11	4.79	0.00	5.68	5.68	3.72	3.80	4.04	3.81	1.97
Debt to NOPAT	8.81	9.83	0.00	14.37	15.02	7.08	6.79	7.08	7.05	2.81
Net Debt to NOPAT	6.85	9.08	0.00	13.54	13.99	6.06	6.03	6.38	6.66	1.94
Long-Term Debt to NOPAT	8.81	9.83	0.00	14.37	15.02	7.08	6.79	7.08	6.94	2.76
Altman Z-Score	2.17	1.88	263.28	1.91	1.77	2.23	2.28	2.03	2.28	2.25
Noncontrolling Interest Sharing Ratio	11.78%	3.82%	36.45%	5.90%	5.06%	5.57%	3.16%	4.32%	4.42%	4.27%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.16	2.12	0.00	1.92	2.02	2.26	2.46	1.98	1.99	1.12
Quick Ratio	2.66	1.64	0.00	1.35	1.35	1.77	1.76	1.56	0.89	0.93
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	2,983	-3,242	2,903	-396	-443	331	-3,066	245	322	942
Operating Cash Flow to CapEx	343.25%	222.94%	341.14%	345.51%	505.90%	315.83%	277.18%	306.12%	407.74%	329.95%
Free Cash Flow to Firm to Interest Expense	329.41	-333.12	248.12	-31.78	-35.16	28.57	-314.63	24.95	32.10	128.34
Operating Cash Flow to Interest Expense	6.78	6.09	5.47	5.01	6.56	7.72	5.37	5.64	6.60	11.96
Operating Cash Flow Less CapEx to Interest Expense	4.80	3.36	3.86	3.56	5.26	5.27	3.43	3.80	4.98	8.34
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.17	0.47	0.47	0.23	0.23	0.28	0.57	0.28	0.28	0.35
Accounts Receivable Turnover	15.15	0.00	0.00	18.15	21.19	25.56	0.00	22.46	22.13	31.43
Inventory Turnover	21.17	0.00	0.00	22.56	20.01	27.86	0.00	25.50	27.74	24.77
Fixed Asset Turnover	6.05	0.00	0.00	30.21	31.06	39.00	0.00	38.42	39.85	55.66
Accounts Payable Turnover	17.45	0.00	0.00	25.55	24.30	31.34	0.00	29.57	25.99	29.83
Days Sales Outstanding (DSO)	24.09	0.00	0.00	20.11	17.23	14.28	0.00	16.25	16.49	11.61
Days Inventory Outstanding (DIO)	17.24	0.00	0.00	16.18	18.25	13.10	0.00	14.31	13.16	14.73
Days Payable Outstanding (DPO)	20.92	0.00	0.00	14.28	15.02	11.65	0.00	12.34	14.05	12.24
Cash Conversion Cycle (CCC)	20.41	0.00	0.00	22.00	20.45	15.74	0.00	18.22	15.60	14.11
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,904	3,391	108	3,425	3,381	3,201	3,199	3,191	3,087	2,598
Invested Capital Turnover	0.21	0.52	0.56	0.26	0.27	0.32	0.63	0.31	0.31	0.44
Increase / (Decrease) in Invested Capital	-2,944	3,284	-2,894	416	477	-189	3,091	-234	-294	-603
Enterprise Value (EV)	5,274	5,812	4,769	6,133	5,689	5,916	6,331	5,770	6,257	4,770
Market Capitalization	4,189	4,292	4,754	4,537	4,116	4,572	4,963	4,392	4,859	3,941
Book Value per Share	$12.12	$12.47	$12.09	$12.11	$12.05	$12.34	$12.13	$11.97	$11.83	$11.72
Tangible Book Value per Share	$12.12	$12.47	$12.09	$12.11	$12.05	$12.34	$12.13	$11.97	$11.83	$11.72
Total Capital	3,179	3,501	1,855	3,515	3,499	3,413	3,360	3,328	3,262	2,942
Total Debt	1,258	1,515	0.00	1,599	1,597	1,453	1,445	1,448	1,394	1,109
Total Long-Term Debt	1,258	1,515	0.00	1,599	1,597	1,453	1,445	1,448	1,372	1,090
Net Debt	978	1,399	0.00	1,505	1,487	1,245	1,284	1,305	1,317	766
Capital Expenditures (CapEx)	18	27	19	18	16	28	19	18	16	27
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-21	-7.20	0.00	6.10	4.53	-31	6.29	-28	85	-275
Debt-free Net Working Capital (DFNWC)	243	107	0.00	95	112	177	166	114	160	68
Net Working Capital (NWC)	243	107	0.00	95	112	177	166	114	138	48
Net Nonoperating Expense (NNE)	7.51	7.85	1.88	0.80	12	12	23	7.65	-2.87	5.54
Net Nonoperating Obligations (NNO)	983	1,405	-1,746	1,508	1,479	1,242	1,284	1,310	1,220	766
Total Depreciation and Amortization (D&A)	31	33	38	40	37	44	37	36	33	34
Debt-free, Cash-free Net Working Capital to Revenue	-2.22%	-0.79%	0.00%	0.74%	0.54%	-2.93%	0.60%	-2.77%	8.50%	-21.77%
Debt-free Net Working Capital to Revenue	26.22%	11.78%	0.00%	11.41%	13.45%	16.72%	15.89%	11.27%	15.90%	5.35%
Net Working Capital to Revenue	26.22%	11.78%	0.00%	11.41%	13.45%	16.72%	15.89%	11.27%	13.70%	3.82%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.14	$0.23	$0.06	$0.13	$0.13	$0.85	$0.01	$0.01	$0.19	$2.20
Adjusted Weighted Average Basic Shares Outstanding	149.63M	150.49M	150.70M	150.74M	150.74M	150.74M	150.97M	151.01M	151.01M	158.19M
Adjusted Diluted Earnings per Share	$0.14	$0.23	$0.06	$0.13	$0.13	$0.85	$0.01	$0.01	$0.19	$2.18
Adjusted Weighted Average Diluted Shares Outstanding	149.63M	150.49M	150.70M	150.74M	150.74M	150.74M	150.97M	151.01M	151.01M	158.19M
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	149.63M	150.49M	150.70M	150.74M	150.74M	150.74M	150.97M	151.01M	151.01M	158.19M
Normalized Net Operating Profit after Tax (NOPAT)	39	42	9.32	20	35	142	11	11	28	339
Normalized NOPAT Margin	20.16%	17.32%	5.20%	9.53%	17.13%	30.28%	6.75%	6.15%	14.14%	46.64%
Pre Tax Income Margin	16.95%	14.66%	4.73%	9.24%	11.55%	28.36%	0.88%	2.04%	15.63%	46.89%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.65	4.70	1.72	2.55	2.85	12.44	1.15	1.36	4.04	47.40
NOPAT to Interest Expense	4.35	4.37	0.80	1.60	2.74	12.22	2.60	1.09	2.75	46.15
EBIT Less CapEx to Interest Expense	2.68	1.96	0.12	1.10	1.55	10.00	-0.79	-0.48	2.42	43.77
NOPAT Less CapEx to Interest Expense	2.37	1.63	-0.81	0.15	1.44	9.77	0.67	-0.75	1.13	42.52
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	148.51%	134.95%	169.72%	181.78%	202.19%	95.24%	115.42%	127.33%	121.51%	54.36%
Augmented Payout Ratio	152.37%	138.39%	173.80%	186.31%	207.22%	97.60%	117.85%	129.99%	124.04%	55.49%

Frequently Asked Questions About Rayonier's Financials

When does Rayonier's financial year end?

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

How has Rayonier's net income changed over the last 9 years?

Rayonier's net income appears to be on an upward trend, with a most recent value of $368.98 million in 2024, rising from $43.94 million in 2015. The previous period was $178.50 million in 2023. Check out Rayonier's forecast to explore projected trends and price targets.

What is Rayonier's operating income?

Rayonier's total operating income in 2024 was $402.47 million, based on the following breakdown:

Total Gross Profit: $478.16 million
Total Operating Expenses: $75.70 million

How has Rayonier revenue changed over the last 9 years?

Over the last 9 years, Rayonier's total revenue changed from $568.80 million in 2015 to $1.26 billion in 2024, a change of 122.0%.

How much debt does Rayonier have?

Rayonier's total liabilities were at $1.64 billion at the end of 2024, a 2.7% decrease from 2023, and a 72.1% increase since 2015.

How much cash does Rayonier have?

In the past 9 years, Rayonier's cash and equivalents has ranged from $0.00 in 2021 to $323.16 million in 2024, and is currently $323.16 million as of their latest financial filing in 2024.

How has Rayonier's book value per share changed over the last 9 years?

Over the last 9 years, Rayonier's book value per share changed from 10.41 in 2015 to 11.72 in 2024, a change of 12.6%.

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This page (NYSE:RYN) was last updated on 5/5/2025 by MarketBeat.com Staff

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Rayonier (RYN) Financials

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