Rayonier (RYN) Financials

$23.38 -0.21 (-0.90%)

Closing price 05/28/2025 03:59 PM Eastern

Extended Trading

$23.54 +0.16 (+0.67%)

As of 08:00 AM 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	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	359	173	107	153	37	59	102	149	212	46
Consolidated Net Income / (Loss)	369	178	123	210	30	68	117	162	218	44
Net Income / (Loss) Continuing Operations	369	178	123	210	30	68	117	162	218	44
Total Pre-Tax Income	376	184	132	225	37	81	143	183	223	43
Total Operating Income	402	211	166	270	74	107	170	215	256	78
Total Gross Profit	478	294	221	313	147	153	211	251	289	127
Total Revenue	1,263	1,057	909	1,110	859	712	816	820	816	569
Operating Revenue	1,263	1,057	909	1,110	859	712	816	820	816	569
Total Cost of Revenue	785	763	688	796	712	558	605	568	526	442
Operating Cost of Revenue	785	763	688	796	712	558	605	568	526	442
Total Operating Expenses	76	83	55	44	72	46	41	36	34	49
Selling, General & Admin Expense	74	75	65	58	51	42	42	40	43	46
Other Operating Expenses / (Income)	1.28	8.31	-9.70	-14	22	4.53	-1.14	-4.39	-9.09	3.55
Total Other Income / (Expense), net	-26	-28	-34	-45	-38	-26	-28	-32	-33	-35
Interest Expense	37	48	36	45	39	32	32	34	32	32
Other Income / (Expense), net	10	21	2.57	0.28	1.17	5.31	4.56	1.84	-0.70	-3.00
Income Tax Expense	7.05	5.12	9.39	15	7.01	13	25	22	5.06	-0.86
Net Income / (Loss) Attributable to Noncontrolling Interest	9.84	5.00	16	58	-7.30	8.57	15	13	5.80	-2.22
Basic Earnings per Share	$2.41	$1.17	$0.73	$1.08	$0.28	$0.92	$1.58	$1.17	$1.73	$0.37
Weighted Average Basic Shares Outstanding	158.19M	150.74M	150.49M	148.68M	142.11M	129.33M	129.49M	127.37M	122.59M	125.39M
Diluted Earnings per Share	$2.39	$1.17	$0.73	$1.08	$0.27	$0.92	$1.58	$1.16	$1.73	$0.37
Weighted Average Diluted Shares Outstanding	158.19M	150.74M	150.49M	148.68M	142.11M	129.33M	129.49M	127.37M	122.59M	125.39M
Weighted Average Basic & Diluted Shares Outstanding	158.19M	150.74M	150.49M	148.68M	142.11M	129.33M	129.49M	127.37M	122.59M	125.39M
Cash Dividends to Common per Share	$2.94	$1.34	$1.13	$1.08	$1.08	$1.08	$1.06	$1.00	$1.00	$1.00

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

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	-3.42	327	29	1.90	1.36	127	19	19	8.30	33	21
Consolidated Net Income / (Loss)	-3.09	333	30	3.04	2.31	129	23	19	7.44	35	32
Net Income / (Loss) Continuing Operations	-5.59	333	30	3.04	2.31	129	23	19	7.44	35	32
Total Pre-Tax Income	-5.30	341	30	3.54	1.47	133	23	19	8.48	36	33
Total Operating Income	0.06	346	28	12	16	145	35	20	11	44	41
Total Gross Profit	18	361	48	35	35	168	56	40	30	64	43
Total Revenue	83	726	195	174	168	467	202	209	179	245	195
Operating Revenue	83	726	195	174	168	467	202	209	179	245	195
Total Cost of Revenue	65	366	147	139	133	299	146	168	149	181	152
Operating Cost of Revenue	65	366	147	139	133	299	146	168	149	181	152
Total Operating Expenses	18	14	20	22	19	23	21	20	19	20	2.31
Selling, General & Admin Expense	17	17	18	21	19	20	19	19	17	16	17
Other Operating Expenses / (Income)	1.22	-2.26	1.91	1.89	-0.27	2.74	1.65	1.40	2.52	4.69	-15
Total Other Income / (Expense), net	-5.36	-5.66	2.87	-8.91	-15	-13	-12	-0.81	-2.15	-8.16	-7.80
Interest Expense	6.39	7.34	10	9.81	9.74	12	13	12	12	9.73	9.06
Interest & Investment Income	2.88	-	-	-	-	-	-	-	-	-	-
Other Income / (Expense), net	-1.84	1.68	13	0.91	-4.99	-1.05	0.53	12	9.55	1.58	1.25
Income Tax Expense	0.29	7.35	0.04	0.50	-0.83	3.34	0.55	0.19	1.04	1.33	1.24
Net Income / (Loss) Discontinued Operations	2.51	-	-	-	-	-	-	-	-	-	-
Net Income / (Loss) Attributable to Noncontrolling Interest	0.34	6.07	1.68	1.13	0.95	2.29	3.50	0.07	-0.86	1.57	11
Basic Earnings per Share	($0.02)	$2.20	$0.19	$0.01	$0.01	$0.85	$0.13	$0.13	$0.06	$0.23	$0.14
Weighted Average Basic Shares Outstanding	157.86M	158.19M	151.01M	151.01M	150.97M	150.74M	150.74M	150.74M	150.70M	150.49M	149.63M
Diluted Earnings per Share	($0.02)	$2.18	$0.19	$0.01	$0.01	$0.85	$0.13	$0.13	$0.06	$0.23	$0.14
Weighted Average Diluted Shares Outstanding	157.86M	158.19M	151.01M	151.01M	150.97M	150.74M	150.74M	150.74M	150.70M	150.49M	149.63M
Weighted Average Basic & Diluted Shares Outstanding	157.86M	158.19M	151.01M	151.01M	150.97M	150.74M	150.74M	150.74M	150.70M	150.49M	149.63M
Cash Dividends to Common per Share	$0.27	-	$0.29	$0.29	$0.29	-	$0.29	$0.29	$0.29	-	$0.29

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

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	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-110	266	-65	-18	-48	99	16	-10	-12	-164	-17
Net Cash From Operating Activities	28	88	66	55	52	89	83	62	64	59	61
Net Cash From Continuing Operating Activities	28	88	66	55	52	89	83	62	64	59	61
Net Income / (Loss) Continuing Operations	-3.09	333	30	3.04	2.31	129	23	19	7.44	35	32
Consolidated Net Income / (Loss)	-3.09	333	30	3.04	2.31	129	23	19	7.44	35	32
Depreciation Expense	28	34	33	36	37	44	37	40	38	33	31
Non-Cash Adjustments To Reconcile Net Income	4.68	-264	14	11	12	-90	9.95	14	9.01	-6.37	6.87
Changes in Operating Assets and Liabilities, net	-1.72	-15	-12	4.88	1.07	5.92	13	-10	9.91	-2.28	-8.62
Net Cash From Investing Activities	-21	429	-27	-23	-24	204	-23	-24	-32	-461	-21
Net Cash From Continuing Investing Activities	-21	429	-27	-23	-24	204	-23	-24	-32	-461	-21
Purchase of Property, Plant & Equipment	-15	-27	-16	-18	-19	-28	-16	-18	-19	-27	-18
Other Investing Activities, net	-6.76	-29	-11	-5.32	-5.18	-7.82	-6.87	-6.22	-13	-463	-3.51
Net Cash From Financing Activities	-116	-249	-105	-50	-75	-195	-43	-48	-43	233	-53
Net Cash From Continuing Financing Activities	-116	-249	-105	-50	-75	-195	-43	-48	-43	233	-53
Repurchase of Common Equity	-0.04	-0.01	-0.00	-4.13	-0.03	-	-0.03	-4.15	-0.04	-	-0.02
Payment of Dividends	-110	-42	-43	-43	-72	-42	-42	-43	-42	-42	-42
Other Financing Activities, net	-6.00	-17	-2.24	-2.63	-2.80	-2.40	-0.70	-0.71	-0.86	-3.88	-11
Other Net Changes in Cash	0.03	-1.28	0.76	0.06	-0.96	0.31	-0.06	-0.51	-0.36	4.07	-3.79
Cash Income Taxes Paid	3.12	0.38	1.65	1.99	1.85	0.17	0.96	1.49	2.20	0.50	0.30

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

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	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	3,351	3,479	3,539	3,570	3,708	3,722	120	3,472
Total Current Assets	767	277	230	280	223	197	0.00	355
Cash & Equivalents	216	74	142	160	108	88	-	262
Restricted Cash	0.00	-	-	-	-	-	-	1.46
Accounts Receivable	17	49	40	40	41	50	-	37
Inventories, net	33	19	24	44	33	32	-	31
Prepaid Expenses	9.87	21	20	20	20	19	-	20
Other Current Assets	7.41	7.70	3.55	5.87	1.93	2.99	-	0.44
Other Current Nonoperating Assets	483	106	1.02	10	18	4.16	-	2.36
Plant, Property, & Equipment, net	18	24	26	26	26	26	0.00	28
Plant, Property & Equipment, gross	36	45	46	46	44	45	-	44
Accumulated Depreciation	19	20	20	20	18	19	-	17
Total Noncurrent Assets	2,566	3,178	3,283	3,263	3,459	3,498	120	3,089
Long-Term Investments	0.68	3.02	0.68	0.68	1.80	4.96	-	16
Other Noncurrent Operating Assets	2,566	3,175	3,282	3,263	3,457	3,399	120	3,073
Other Noncurrent Nonoperating Assets	0.00	-	-	-	-	-	-	-
Total Liabilities & Shareholders' Equity	3,351	3,479	3,539	3,570	3,708	3,722	1,845	3,472
Total Liabilities	1,368	1,612	1,659	1,655	1,806	1,806	11	1,551
Total Current Liabilities	283	139	116	114	111	103	0.00	112
Accounts Payable	11	29	26	34	26	23	-	27
Current Deferred Revenue	18	30	34	21	24	33	-	23
Current Deferred & Payable Income Tax Liabilities	3.49	8.31	5.95	5.57	8.92	6.98	-	8.82
Current Employee Benefit Liabilities	6.42	11	10	7.90	10	7.90	-	11
Other Current Liabilities	8.11	30	34	35	31	24	-	36
Other Current Nonoperating Liabilities	236	9.05	6.30	9.91	11	7.30	-	7.18
Total Noncurrent Liabilities	1,085	1,472	1,543	1,541	1,695	1,703	11	1,439
Long-Term Debt	1,045	1,285	1,364	1,362	1,511	1,512	-	1,258
Capital Lease Obligations	15	87	84	83	85	86	-	-
Noncurrent Deferred Revenue	12	14	15	15	11	11	11	-
Other Noncurrent Operating Liabilities	13	85	78	79	79	85	-	172
Other Noncurrent Nonoperating Liabilities	0.00	-	-	-	-	-	-	-
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	58	65	59	70	70	78	-	96
Total Equity & Noncontrolling Interests	1,925	1,803	1,821	1,846	1,832	1,839	1,855	1,825
Total Preferred & Common Equity	1,915	1,787	1,807	1,831	1,816	1,825	1,841	1,813
Total Common Equity	1,915	1,787	1,807	1,831	1,816	1,825	1,820	1,813
Common Stock	1,725	1,520	1,515	1,512	1,494	1,490	1,489	1,431
Retained Earnings	204	244	264	297	295	311	330	384
Accumulated Other Comprehensive Income / (Loss)	-14	24	28	22	28	24	-	-1.60
Noncontrolling Interest	10	16	14	14	16	13	14	11

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

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

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

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-27.07%	55.39%	-3.27%	-16.88%	-6.13%	90.47%	3.22%	-15.21%	-19.35%	-6.33%	-46.46%
EBITDA Growth	-32.59%	102.80%	1.55%	-30.82%	-16.40%	138.06%	-0.74%	-0.21%	-37.51%	15.41%	-53.61%
EBIT Growth	-214.88%	141.33%	12.86%	-57.96%	-44.40%	215.38%	-14.87%	-11.01%	-55.01%	35.69%	-66.16%
NOPAT Growth	-99.32%	139.32%	-20.13%	-46.33%	172.10%	233.05%	-12.31%	-41.00%	-75.78%	35.86%	-67.26%
Net Income Growth	-233.78%	157.85%	33.87%	-84.11%	-68.99%	272.99%	-28.63%	-24.48%	-76.01%	60.97%	-71.17%
EPS Growth	-300.00%	156.47%	46.15%	-92.31%	-83.33%	269.57%	-7.14%	-18.75%	-70.00%	153.49%	-73.58%
Operating Cash Flow Growth	-47.04%	-1.82%	-19.93%	-11.29%	-18.22%	50.82%	34.64%	-36.91%	28.76%	24.41%	-45.63%
Free Cash Flow Firm Growth	120.12%	184.56%	172.63%	161.83%	-205.61%	110.21%	-114.85%	77.86%	701.16%	-198.43%	225.96%
Invested Capital Growth	-19.40%	-18.84%	-8.70%	-6.84%	2,852.51%	-5.59%	16.44%	13.82%	-96.39%	3,072.77%	-50.34%
Revenue Q/Q Growth	-88.58%	272.47%	12.32%	3.28%	-64.04%	131.87%	-3.49%	16.63%	-27.02%	25.66%	-20.73%
EBITDA Q/Q Growth	-93.17%	415.62%	49.64%	2.36%	-74.32%	158.20%	1.95%	23.69%	-26.88%	7.66%	2.49%
EBIT Q/Q Growth	-100.51%	759.02%	203.45%	18.97%	-92.22%	301.71%	13.04%	57.35%	-55.86%	8.43%	18.17%
NOPAT Q/Q Growth	-99.99%	1,128.46%	158.15%	-57.88%	-82.08%	309.96%	73.49%	113.53%	-78.07%	7.94%	16.73%
Net Income Q/Q Growth	-100.93%	994.54%	903.03%	31.61%	-98.22%	468.26%	19.08%	156.77%	-78.53%	8.74%	26.00%
EPS Q/Q Growth	-100.92%	1,047.37%	1,800.00%	0.00%	-98.82%	553.85%	0.00%	116.67%	-73.91%	64.29%	-12.50%
Operating Cash Flow Q/Q Growth	-68.46%	32.75%	19.56%	5.80%	-41.53%	8.26%	32.45%	-2.47%	7.84%	-3.35%	-37.94%
Free Cash Flow Firm Q/Q Growth	-34.11%	192.83%	31.41%	107.98%	-1,026.09%	174.74%	-11.87%	-113.64%	189.55%	-208.66%	266.81%
Invested Capital Q/Q Growth	-0.75%	-15.84%	-3.24%	-0.28%	-0.06%	-5.32%	-1.26%	3,060.37%	-96.80%	16.77%	-3.49%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	21.67%	49.64%	24.51%	20.12%	20.77%	35.95%	27.76%	19.37%	16.71%	26.28%	22.13%
EBITDA Margin	31.41%	52.52%	37.94%	28.48%	28.73%	40.24%	36.14%	34.21%	32.26%	32.20%	37.58%
Operating Margin	0.07%	47.67%	14.16%	7.17%	9.64%	31.07%	17.54%	9.62%	5.93%	17.98%	20.95%
EBIT Margin	-2.15%	47.90%	20.77%	7.69%	6.67%	30.84%	17.80%	15.20%	11.27%	18.63%	21.59%
Profit (Net Income) Margin	-3.72%	45.88%	15.61%	1.75%	1.37%	27.65%	11.28%	9.14%	4.15%	14.12%	16.32%
Tax Burden Percent	58.20%	97.84%	99.89%	85.86%	156.45%	97.48%	97.65%	99.00%	87.74%	96.30%	96.26%
Interest Burden Percent	297.31%	97.89%	75.26%	26.49%	13.14%	91.96%	64.89%	60.76%	42.01%	78.71%	78.52%
Effective Tax Rate	0.00%	2.16%	0.11%	14.14%	-56.45%	2.52%	2.35%	1.00%	12.26%	3.70%	3.74%
Return on Invested Capital (ROIC)	0.02%	20.31%	4.39%	1.88%	9.54%	9.71%	4.55%	2.45%	2.90%	9.00%	4.27%
ROIC Less NNEP Spread (ROIC-NNEP)	-0.31%	19.76%	4.60%	1.34%	19.52%	8.78%	3.59%	2.39%	3.04%	14.17%	3.95%
Return on Net Nonoperating Assets (RNNOA)	-0.15%	10.47%	3.30%	0.99%	-2.39%	5.89%	2.31%	1.59%	-1.40%	-1.13%	4.70%
Return on Equity (ROE)	-0.13%	30.78%	7.69%	2.87%	7.15%	15.60%	6.86%	4.05%	1.50%	7.87%	8.97%
Cash Return on Invested Capital (CROIC)	34.81%	34.42%	15.21%	13.26%	-174.02%	11.98%	-11.81%	-9.47%	194.10%	-178.97%	70.53%
Operating Return on Assets (OROA)	-0.77%	16.99%	5.80%	2.14%	3.78%	8.77%	4.14%	3.48%	5.30%	8.68%	3.67%
Return on Assets (ROA)	-1.32%	16.27%	4.36%	0.49%	0.78%	7.86%	2.62%	2.09%	1.96%	6.58%	2.77%
Return on Common Equity (ROCE)	-0.12%	29.47%	7.35%	2.75%	6.92%	14.73%	6.52%	3.81%	0.95%	7.57%	7.91%
Return on Equity Simple (ROE_SIMPLE)	18.99%	0.00%	9.23%	8.71%	9.47%	0.00%	4.62%	5.10%	5.39%	0.00%	6.05%
Net Operating Profit after Tax (NOPAT)	0.04	339	28	11	25	142	35	20	9.32	42	39
NOPAT Margin	0.05%	46.64%	14.14%	6.15%	15.09%	30.28%	17.13%	9.53%	5.20%	17.32%	20.16%
Net Nonoperating Expense Percent (NNEP)	0.33%	0.55%	-0.21%	0.54%	-9.98%	0.93%	0.96%	0.06%	-0.14%	-5.16%	0.32%
Return On Investment Capital (ROIC_SIMPLE)	0.00%	11.72%	-	-	-	4.25%	-	-	-	1.25%	-
Cost of Revenue to Revenue	78.33%	50.36%	75.49%	79.88%	79.23%	64.05%	72.24%	80.63%	83.29%	73.72%	77.87%
SG&A Expenses to Revenue	20.13%	2.28%	9.37%	11.87%	11.29%	4.30%	9.40%	9.07%	9.37%	6.38%	8.65%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	21.60%	1.97%	10.35%	12.96%	11.13%	4.88%	10.22%	9.74%	10.77%	8.30%	1.18%
Earnings before Interest and Taxes (EBIT)	-1.78	348	40	13	11	144	36	32	20	46	42
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	26	381	74	49	48	188	73	71	58	79	73
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.30	2.23	2.72	2.43	2.71	2.46	2.27	2.49	2.61	2.30	2.31
Price to Tangible Book Value (P/TBV)	2.30	2.23	2.72	2.43	2.71	2.46	2.27	2.49	2.61	2.30	2.31
Price to Revenue (P/Rev)	3.58	3.12	4.84	4.35	4.75	4.33	4.93	5.48	5.49	4.72	4.52
Price to Earnings (P/E)	12.45	10.97	30.57	29.39	29.80	26.36	51.68	56.03	55.25	40.08	50.67
Dividend Yield	5.66%	12.03%	4.16%	4.61%	4.07%	4.42%	4.18%	3.79%	3.61%	3.92%	3.97%
Earnings Yield	8.04%	9.11%	3.27%	3.40%	3.36%	3.79%	1.94%	1.78%	1.81%	2.49%	1.97%
Enterprise Value to Invested Capital (EV/IC)	2.06	1.84	2.03	1.81	1.98	1.85	1.68	1.79	44.01	1.71	1.82
Enterprise Value to Revenue (EV/Rev)	4.32	3.78	6.23	5.71	6.05	5.60	6.81	7.40	5.51	6.39	5.70
Enterprise Value to EBITDA (EV/EBITDA)	9.84	8.62	17.39	16.09	16.63	15.16	20.25	21.81	16.96	18.37	17.24
Enterprise Value to EBIT (EV/EBIT)	12.99	11.55	29.91	28.20	28.39	25.51	42.61	43.88	33.18	34.52	33.73
Enterprise Value to NOPAT (EV/NOPAT)	13.82	12.08	31.63	28.20	29.74	28.80	53.53	55.15	38.17	37.73	36.96
Enterprise Value to Operating Cash Flow (EV/OCF)	22.45	18.24	23.77	20.63	22.08	19.83	21.21	24.83	16.82	21.59	20.48
Enterprise Value to Free Cash Flow (EV/FCFF)	5.29	4.78	12.72	13.15	0.00	14.98	0.00	0.00	1.58	0.00	1.71
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.53	0.61	0.75	0.77	0.75	0.74	0.84	0.83	0.00	0.76	0.65
Long-Term Debt to Equity	0.53	0.59	0.73	0.77	0.75	0.74	0.84	0.83	0.00	0.76	0.65
Financial Leverage	0.48	0.53	0.72	0.74	-0.12	0.67	0.64	0.67	-0.46	-0.08	1.19
Leverage Ratio	1.78	1.88	1.91	1.91	0.98	1.88	1.88	1.87	0.64	1.03	2.73
Compound Leverage Factor	5.28	1.84	1.43	0.51	0.13	1.73	1.22	1.14	0.27	0.81	2.14
Debt to Total Capital	34.83%	37.71%	42.75%	43.50%	43.00%	42.59%	45.63%	45.48%	0.00%	43.26%	39.57%
Short-Term Debt to Total Capital	0.00%	0.66%	0.67%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	34.83%	37.05%	42.07%	43.50%	43.00%	42.59%	45.63%	45.48%	0.00%	43.26%	39.57%
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%	0.00%
Noncontrolling Interests to Total Capital	2.25%	2.14%	2.47%	2.20%	2.50%	2.89%	2.46%	2.58%	0.77%	3.46%	3.38%
Common Equity to Total Capital	62.93%	60.15%	54.79%	54.29%	54.50%	54.52%	51.91%	51.93%	98.10%	53.28%	57.05%
Debt to EBITDA	1.96	2.01	3.87	4.04	3.80	3.72	5.68	5.68	0.00	4.79	4.11
Net Debt to EBITDA	1.56	1.38	3.66	3.64	3.37	3.19	5.29	5.35	0.00	4.42	3.20
Long-Term Debt to EBITDA	1.96	1.97	3.81	4.04	3.80	3.72	5.68	5.68	0.00	4.79	4.11
Debt to NOPAT	2.75	2.81	7.05	7.08	6.79	7.08	15.02	14.37	0.00	9.83	8.81
Net Debt to NOPAT	2.19	1.94	6.66	6.38	6.03	6.06	13.99	13.54	0.00	9.08	6.85
Long-Term Debt to NOPAT	2.75	2.76	6.94	7.08	6.79	7.08	15.02	14.37	0.00	9.83	8.81
Altman Z-Score	2.56	2.25	2.28	2.03	2.28	2.23	1.77	1.91	263.28	1.88	2.17
Noncontrolling Interest Sharing Ratio	3.91%	4.27%	4.42%	4.32%	3.16%	5.57%	5.06%	5.90%	36.45%	3.82%	11.78%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.71	1.12	1.99	1.98	2.46	2.26	2.02	1.92	0.00	2.12	3.16
Quick Ratio	0.83	0.93	0.89	1.56	1.76	1.77	1.35	1.35	0.00	1.64	2.66
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	621	942	322	245	-3,066	331	-443	-396	2,903	-3,242	2,983
Operating Cash Flow to CapEx	188.72%	329.95%	407.74%	306.12%	277.18%	315.83%	505.90%	345.51%	341.14%	222.94%	343.25%
Free Cash Flow to Firm to Interest Expense	97.07	128.34	32.10	24.95	-314.63	28.57	-35.16	-31.78	248.12	-333.12	329.41
Operating Cash Flow to Interest Expense	4.33	11.96	6.60	5.64	5.37	7.72	6.56	5.01	5.47	6.09	6.78
Operating Cash Flow Less CapEx to Interest Expense	2.04	8.34	4.98	3.80	3.43	5.27	5.26	3.56	3.86	3.36	4.80
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.36	0.35	0.28	0.28	0.57	0.28	0.23	0.23	0.47	0.47	0.17
Accounts Receivable Turnover	42.74	31.43	22.13	22.46	0.00	25.56	21.19	18.15	0.00	0.00	15.15
Inventory Turnover	19.87	24.77	27.74	25.50	0.00	27.86	20.01	22.56	0.00	0.00	21.17
Fixed Asset Turnover	55.73	55.66	39.85	38.42	0.00	39.00	31.06	30.21	0.00	0.00	6.05
Accounts Payable Turnover	33.54	29.83	25.99	29.57	0.00	31.34	24.30	25.55	0.00	0.00	17.45
Days Sales Outstanding (DSO)	8.54	11.61	16.49	16.25	0.00	14.28	17.23	20.11	0.00	0.00	24.09
Days Inventory Outstanding (DIO)	18.37	14.73	13.16	14.31	0.00	13.10	18.25	16.18	0.00	0.00	17.24
Days Payable Outstanding (DPO)	10.88	12.24	14.05	12.34	0.00	11.65	15.02	14.28	0.00	0.00	20.92
Cash Conversion Cycle (CCC)	16.02	14.11	15.60	18.22	0.00	15.74	20.45	22.00	0.00	0.00	20.41
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,579	2,598	3,087	3,191	3,199	3,201	3,381	3,425	108	3,391	2,904
Invested Capital Turnover	0.43	0.44	0.31	0.31	0.63	0.32	0.27	0.26	0.56	0.52	0.21
Increase / (Decrease) in Invested Capital	-621	-603	-294	-234	3,091	-189	477	416	-2,894	3,284	-2,944
Enterprise Value (EV)	5,322	4,770	6,257	5,770	6,331	5,916	5,689	6,133	4,769	5,812	5,274
Market Capitalization	4,410	3,941	4,859	4,392	4,963	4,572	4,116	4,537	4,754	4,292	4,189
Book Value per Share	$12.11	$11.72	$11.83	$11.97	$12.13	$12.34	$12.05	$12.11	$12.09	$12.47	$12.12
Tangible Book Value per Share	$12.11	$11.72	$11.83	$11.97	$12.13	$12.34	$12.05	$12.11	$12.09	$12.47	$12.12
Total Capital	3,043	2,942	3,262	3,328	3,360	3,413	3,499	3,515	1,855	3,501	3,179
Total Debt	1,060	1,109	1,394	1,448	1,445	1,453	1,597	1,599	0.00	1,515	1,258
Total Long-Term Debt	1,060	1,090	1,372	1,448	1,445	1,453	1,597	1,599	0.00	1,515	1,258
Net Debt	843	766	1,317	1,305	1,284	1,245	1,487	1,505	0.00	1,399	978
Capital Expenditures (CapEx)	15	27	16	18	19	28	16	18	19	27	18
Debt-free, Cash-free Net Working Capital (DFCFNWC)	268	-275	85	-28	6.29	-31	4.53	6.10	0.00	-7.20	-21
Debt-free Net Working Capital (DFNWC)	485	68	160	114	166	177	112	95	0.00	107	243
Net Working Capital (NWC)	485	48	138	114	166	177	112	95	0.00	107	243
Net Nonoperating Expense (NNE)	3.13	5.54	-2.87	7.65	23	12	12	0.80	1.88	7.85	7.51
Net Nonoperating Obligations (NNO)	595	766	1,220	1,310	1,284	1,242	1,479	1,508	-1,746	1,405	983
Total Depreciation and Amortization (D&A)	28	34	33	36	37	44	37	40	38	33	31
Debt-free, Cash-free Net Working Capital to Revenue	21.78%	-21.77%	8.50%	-2.77%	0.60%	-2.93%	0.54%	0.74%	0.00%	-0.79%	-2.22%
Debt-free Net Working Capital to Revenue	39.33%	5.35%	15.90%	11.27%	15.89%	16.72%	13.45%	11.41%	0.00%	11.78%	26.22%
Net Working Capital to Revenue	39.33%	3.82%	13.70%	11.27%	15.89%	16.72%	13.45%	11.41%	0.00%	11.78%	26.22%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.02)	$2.20	$0.19	$0.01	$0.01	$0.85	$0.13	$0.13	$0.06	$0.23	$0.14
Adjusted Weighted Average Basic Shares Outstanding	157.86M	158.19M	151.01M	151.01M	150.97M	150.74M	150.74M	150.74M	150.70M	150.49M	149.63M
Adjusted Diluted Earnings per Share	($0.02)	$2.18	$0.19	$0.01	$0.01	$0.85	$0.13	$0.13	$0.06	$0.23	$0.14
Adjusted Weighted Average Diluted Shares Outstanding	157.86M	158.19M	151.01M	151.01M	150.97M	150.74M	150.74M	150.74M	150.70M	150.49M	149.63M
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	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	157.86M	158.19M	151.01M	151.01M	150.97M	150.74M	150.74M	150.74M	150.70M	150.49M	149.63M
Normalized Net Operating Profit after Tax (NOPAT)	0.04	339	28	11	11	142	35	20	9.32	42	39
Normalized NOPAT Margin	0.05%	46.64%	14.14%	6.15%	6.75%	30.28%	17.13%	9.53%	5.20%	17.32%	20.16%
Pre Tax Income Margin	-6.39%	46.89%	15.63%	2.04%	0.88%	28.36%	11.55%	9.24%	4.73%	14.66%	16.95%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-0.28	47.40	4.04	1.36	1.15	12.44	2.85	2.55	1.72	4.70	4.65
NOPAT to Interest Expense	0.01	46.15	2.75	1.09	2.60	12.22	2.74	1.60	0.80	4.37	4.35
EBIT Less CapEx to Interest Expense	-2.57	43.77	2.42	-0.48	-0.79	10.00	1.55	1.10	0.12	1.96	2.68
NOPAT Less CapEx to Interest Expense	-2.29	42.52	1.13	-0.75	0.67	9.77	1.44	0.15	-0.81	1.63	2.37
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	65.66%	54.36%	121.51%	127.33%	115.42%	95.24%	202.19%	181.78%	169.72%	134.95%	148.51%
Augmented Payout Ratio	66.82%	55.49%	124.04%	129.99%	117.85%	97.60%	207.22%	186.31%	173.80%	138.39%	152.37%

Frequently Asked Questions About Rayonier's Financials

When does Rayonier's fiscal year end?

According to the most recent income statement we have on file, Rayonier's financial year ends in December. Their financial 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. View Rayonier's forecast to see where analysts expect Rayonier to go next.

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 5/29/2025 by MarketBeat.com Staff

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Rayonier (RYN) Financials

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