RAYONIER INC (RYN) Stock Fundamental Analysis
NYSE:RYN - New York Stock Exchange, Inc. - US7549071030 - REIT - Currency: USD
RYN gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 30 industry peers in the Specialized REITs industry. Both the health and profitability get an excellent rating, making RYN a very profitable company, without any liquidiy or solvency issues. RYN is quite expensive at the moment. It does show a decent growth rate.
1. Profitability
1.1 Basic Checks
RYN had positive earnings in the past year.
In the past year RYN had a positive cash flow from operations.
Each year in the past 5 years RYN has been profitable.
RYN had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
RYN's Return On Assets of 10.57% is amongst the best of the industry. RYN outperforms 100.00% of its industry peers.
With an excellent Return On Equity value of 18.50%, RYN belongs to the best of the industry, outperforming 86.67% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 9.97%, RYN belongs to the top of the industry, outperforming 93.33% of the companies in the same industry.
RYN had an Average Return On Invested Capital over the past 3 years of 6.20%. This is in line with the industry average of 5.28%.
The last Return On Invested Capital (9.97%) for RYN is above the 3 year average (6.20%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 10.57% | ||
| ROE | 18.5% | ||
| ROIC | 9.97% |
ROA(3y)5.97%
ROA(5y)4.62%
ROE(3y)11.79%
ROE(5y)9.3%
ROIC(3y)6.2%
ROIC(5y)5.32%
1.3 Margins
The Profit Margin of RYN (30.09%) is better than 76.67% of its industry peers.
In the last couple of years the Profit Margin of RYN has grown nicely.
RYN has a worse Operating Margin (32.87%) than 60.00% of its industry peers.
In the last couple of years the Operating Margin of RYN has grown nicely.
RYN has a Gross Margin of 39.16%. This is in the lower half of the industry: RYN underperforms 76.67% of its industry peers.
RYN's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 32.87% | ||
| PM (TTM) | 30.09% | ||
| GM | 39.16% |
OM growth 3Y11.53%
OM growth 5Y15.6%
PM growth 3Y27.41%
PM growth 5Y27.91%
GM growth 3Y10.25%
GM growth 5Y11.95%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so RYN is still creating some value.
The number of shares outstanding for RYN remains at a similar level compared to 1 year ago.
RYN has more shares outstanding than it did 5 years ago.
The debt/assets ratio for RYN has been reduced compared to a year ago.
2.2 Solvency
An Altman-Z score of 2.53 indicates that RYN is not a great score, but indicates only limited risk for bankruptcy at the moment.
With an excellent Altman-Z score value of 2.53, RYN belongs to the best of the industry, outperforming 90.00% of the companies in the same industry.
RYN has a debt to FCF ratio of 7.39. This is a slightly negative value and a sign of low solvency as RYN would need 7.39 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 7.39, RYN belongs to the top of the industry, outperforming 86.67% of the companies in the same industry.
RYN has a Debt/Equity ratio of 0.55. This is a neutral value indicating RYN is somewhat dependend on debt financing.
RYN has a Debt to Equity ratio of 0.55. This is amongst the best in the industry. RYN outperforms 86.67% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.55 | ||
| Debt/FCF | 7.39 | ||
| Altman-Z | 2.53 |
ROIC/WACC1.33
WACC7.47%
2.3 Liquidity
RYN has a Current Ratio of 2.71. This indicates that RYN is financially healthy and has no problem in meeting its short term obligations.
RYN has a better Current ratio (2.71) than 93.33% of its industry peers.
RYN has a Quick Ratio of 2.60. This indicates that RYN is financially healthy and has no problem in meeting its short term obligations.
RYN has a Quick ratio of 2.60. This is amongst the best in the industry. RYN outperforms 93.33% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.71 | ||
| Quick Ratio | 2.6 |
3. Growth
3.1 Past
The earnings per share for RYN have decreased by -2.50% in the last year.
Measured over the past 5 years, RYN shows a small growth in Earnings Per Share. The EPS has been growing by 0.44% on average per year.
The Revenue has grown by 12.61% in the past year. This is quite good.
The Revenue has been growing by 12.16% on average over the past years. This is quite good.
EPS 1Y (TTM)-2.5%
EPS 3Y-23.56%
EPS 5Y0.44%
EPS Q2Q%-140%
Revenue 1Y (TTM)12.61%
Revenue growth 3Y4.41%
Revenue growth 5Y12.16%
Sales Q2Q%-50.68%
3.2 Future
RYN is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 11.93% yearly.
The Revenue is expected to decrease by -5.22% on average over the next years.
EPS Next Y-1.63%
EPS Next 2Y16.86%
EPS Next 3Y10.43%
EPS Next 5Y11.93%
Revenue Next Year-38.8%
Revenue Next 2Y-19.57%
Revenue Next 3Y-11.58%
Revenue Next 5Y-5.22%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 60.77, which means the current valuation is very expensive for RYN.
RYN's Price/Earnings ratio is a bit more expensive when compared to the industry. RYN is more expensive than 60.00% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 26.25. RYN is valued rather expensively when compared to this.
With a Price/Forward Earnings ratio of 37.73, RYN can be considered very expensive at the moment.
The rest of the industry has a similar Price/Forward Earnings ratio as RYN.
The average S&P500 Price/Forward Earnings ratio is at 22.15. RYN is valued rather expensively when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 60.77 | ||
| Fwd PE | 37.73 |
4.2 Price Multiples
RYN's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. RYN is cheaper than 96.67% of the companies in the same industry.
RYN's Price/Free Cash Flow ratio is in line with the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 26.13 | ||
| EV/EBITDA | 8.8 |
4.3 Compensation for Growth
RYN has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)137.94
EPS Next 2Y16.86%
EPS Next 3Y10.43%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 4.58%, RYN is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 5.59, RYN has a dividend in line with its industry peers.
RYN's Dividend Yield is rather good when compared to the S&P500 average which is at 2.38.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.58% |
5.2 History
The dividend of RYN has a limited annual growth rate of 4.39%.
RYN has been paying a dividend for at least 10 years, so it has a reliable track record.
RYN has decreased its dividend in the last 3 years.
Dividend Growth(5Y)4.39%
Div Incr Years2
Div Non Decr Years2
5.3 Sustainability
RYN pays out 67.37% of its income as dividend. This is not a sustainable payout ratio.
RYN's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP67.37%
EPS Next 2Y16.86%
EPS Next 3Y10.43%
23.7
-0.08 (-0.34%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)
Earnings (Next)
Inst Owners94.95%
Inst Owner Change6.66%
Ins Owners0.4%
Ins Owner Change10.13%
Market Cap3.69B
Analysts72
Price Target30.6 (29.11%)
Short Float %2.96%
Short Ratio3.77
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.58% |
Yearly Dividend1.35
Dividend Growth(5Y)4.39%
DP67.37%
Div Incr Years2
Div Non Decr Years2
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-43.83%
Min EPS beat(2)-131.18%
Max EPS beat(2)43.53%
EPS beat(4)1
Avg EPS beat(4)-45.28%
Min EPS beat(4)-131.18%
Max EPS beat(4)43.53%
EPS beat(8)4
Avg EPS beat(8)-23.04%
EPS beat(12)6
Avg EPS beat(12)-20.16%
EPS beat(16)10
Avg EPS beat(16)49.3%
Revenue beat(2)1
Avg Revenue beat(2)94.82%
Min Revenue beat(2)-46.4%
Max Revenue beat(2)236.03%
Revenue beat(4)1
Avg Revenue beat(4)39.99%
Min Revenue beat(4)-46.4%
Max Revenue beat(4)236.03%
Revenue beat(8)1
Avg Revenue beat(8)16.67%
Revenue beat(12)3
Avg Revenue beat(12)10.94%
Revenue beat(16)6
Avg Revenue beat(16)15.23%
PT rev (1m)-2.17%
PT rev (3m)-4.46%
EPS NQ rev (1m)-32.9%
EPS NQ rev (3m)-32%
EPS NY rev (1m)-18.79%
EPS NY rev (3m)-18.55%
Revenue NQ rev (1m)-35.72%
Revenue NQ rev (3m)-39.76%
Revenue NY rev (1m)-24.48%
Revenue NY rev (3m)-29.59%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 60.77 | ||
| Fwd PE | 37.73 | ||
| P/S | 3.13 | ||
| P/FCF | 26.13 | ||
| P/OCF | 15.58 | ||
| P/B | 1.93 | ||
| P/tB | 1.93 | ||
| EV/EBITDA | 8.8 |
EPS(TTM)0.39
EY1.65%
EPS(NY)0.63
Fwd EY2.65%
FCF(TTM)0.91
FCFY3.83%
OCF(TTM)1.52
OCFY6.42%
SpS7.56
BVpS12.29
TBVpS12.29
PEG (NY)N/A
PEG (5Y)137.94
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 10.57% | ||
| ROE | 18.5% | ||
| ROCE | 12.62% | ||
| ROIC | 9.97% | ||
| ROICexc | 10.72% | ||
| ROICexgc | 10.72% | ||
| OM | 32.87% | ||
| PM (TTM) | 30.09% | ||
| GM | 39.16% | ||
| FCFM | 12% |
ROA(3y)5.97%
ROA(5y)4.62%
ROE(3y)11.79%
ROE(5y)9.3%
ROIC(3y)6.2%
ROIC(5y)5.32%
ROICexc(3y)6.74%
ROICexc(5y)5.79%
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)7.85%
ROCE(5y)6.73%
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3Y20.25%
ROICexc growth 5Y28.5%
OM growth 3Y11.53%
OM growth 5Y15.6%
PM growth 3Y27.41%
PM growth 5Y27.91%
GM growth 3Y10.25%
GM growth 5Y11.95%
F-Score8
Asset Turnover0.35
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.55 | ||
| Debt/FCF | 7.39 | ||
| Debt/EBITDA | 2.03 | ||
| Cap/Depr | 75.55% | ||
| Cap/Sales | 8.12% | ||
| Interest Coverage | 9.76 | ||
| Cash Conversion | 46.12% | ||
| Profit Quality | 39.88% | ||
| Current Ratio | 2.71 | ||
| Quick Ratio | 2.6 | ||
| Altman-Z | 2.53 |
F-Score8
WACC7.47%
ROIC/WACC1.33
Cap/Depr(3y)165.15%
Cap/Depr(5y)142.91%
Cap/Sales(3y)25.27%
Cap/Sales(5y)21.89%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-2.5%
EPS 3Y-23.56%
EPS 5Y0.44%
EPS Q2Q%-140%
EPS Next Y-1.63%
EPS Next 2Y16.86%
EPS Next 3Y10.43%
EPS Next 5Y11.93%
Revenue 1Y (TTM)12.61%
Revenue growth 3Y4.41%
Revenue growth 5Y12.16%
Sales Q2Q%-50.68%
Revenue Next Year-38.8%
Revenue Next 2Y-19.57%
Revenue Next 3Y-11.58%
Revenue Next 5Y-5.22%
EBIT growth 1Y76.61%
EBIT growth 3Y16.45%
EBIT growth 5Y29.66%
EBIT Next Year141.12%
EBIT Next 3Y39.53%
EBIT Next 5Y25.3%
FCF growth 1Y154.58%
FCF growth 3Y31.45%
FCF growth 5Y81.84%
OCF growth 1Y-16.4%
OCF growth 3Y-6.99%
OCF growth 5Y4.07%