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. RYN gets an excellent profitability rating and is at the same time showing great financial health properties. While showing a medium growth rate, RYN is valued expensive at the moment.
1. Profitability
1.1 Basic Checks
In the past year RYN was profitable.
In the past year RYN had a positive cash flow from operations.
Each year in the past 5 years RYN has been profitable.
In the past 5 years RYN always reported a positive cash flow from operatings.
1.2 Ratios
RYN has a better Return On Assets (10.57%) than 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.
RYN's Return On Invested Capital of 9.97% is amongst the best of the industry. RYN outperforms 93.33% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for RYN 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
RYN has a Profit Margin of 30.09%. This is in the better half of the industry: RYN outperforms 76.67% of its industry peers.
RYN's Profit Margin has improved in the last couple of years.
RYN has a Operating Margin of 32.87%. This is in the lower half of the industry: RYN underperforms 60.00% of its industry peers.
RYN's Operating Margin has improved in the last couple of years.
RYN's Gross Margin of 39.16% is on the low side compared to the rest of the industry. RYN is outperformed by 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
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), RYN is creating some value.
Compared to 1 year ago, RYN has about the same amount of shares outstanding.
The number of shares outstanding for RYN has been increased compared to 5 years ago.
Compared to 1 year ago, RYN has an improved debt to assets ratio.
2.2 Solvency
RYN has an Altman-Z score of 2.47. This is not the best score and indicates that RYN is in the grey zone with still only limited risk for bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 2.47, RYN belongs to the top of the industry, outperforming 93.33% 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.
RYN has a Debt to FCF ratio of 7.39. This is amongst the best in the industry. RYN outperforms 86.67% of its industry peers.
RYN has a Debt/Equity ratio of 0.55. This is a neutral value indicating RYN is somewhat dependend on debt financing.
The Debt to Equity ratio of RYN (0.55) is better than 86.67% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.55 | ||
| Debt/FCF | 7.39 | ||
| Altman-Z | 2.47 |
ROIC/WACC1.36
WACC7.34%
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.
With an excellent Current ratio value of 2.71, RYN belongs to the best of the industry, outperforming 93.33% of the companies in the same industry.
A Quick Ratio of 2.60 indicates that RYN has no problem at all paying its short term obligations.
RYN's Quick ratio of 2.60 is amongst the best of 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.
The Earnings Per Share has been growing slightly by 0.44% on average over the past years.
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
The Earnings Per Share is expected to grow by 9.59% on average over the next years. This is quite good.
Based on estimates for the next years, RYN will show a decrease in Revenue. The Revenue will decrease by -8.29% on average per year.
EPS Next Y-9.54%
EPS Next 2Y16.67%
EPS Next 3Y10.43%
EPS Next 5Y9.59%
Revenue Next Year-40.18%
Revenue Next 2Y-21.13%
Revenue Next 3Y-12.51%
Revenue Next 5Y-8.29%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 59.41, RYN can be considered very expensive at the moment.
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.
RYN's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 27.28.
With a Price/Forward Earnings ratio of 37.00, 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 21.76. RYN is valued rather expensively when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 59.41 | ||
| Fwd PE | 37 |
4.2 Price Multiples
96.67% of the companies in the same industry are more expensive than RYN, based on the Enterprise Value to EBITDA ratio.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of RYN is on the same level as its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 25.54 | ||
| EV/EBITDA | 8.52 |
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)134.86
EPS Next 2Y16.67%
EPS Next 3Y10.43%
5. Dividend
5.1 Amount
RYN has a Yearly Dividend Yield of 4.81%, which is a nice return.
RYN's Dividend Yield is comparable with the industry average which is at 5.88.
RYN's Dividend Yield is rather good when compared to the S&P500 average which is at 2.42.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.81% |
5.2 History
The dividend of RYN has a limited annual growth rate of 4.39%.
RYN has paid a dividend for at least 10 years, which is 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.
The dividend of RYN is growing, but earnings are growing more, so the dividend growth is sustainable.
DP67.37%
EPS Next 2Y16.67%
EPS Next 3Y10.43%
23.17
+0.4 (+1.76%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)
Earnings (Next)
Inst Owners95.68%
Inst Owner Change6.67%
Ins Owners0.43%
Ins Owner Change10.18%
Market Cap3.61B
Analysts72
Price Target30.43 (31.33%)
Short Float %3.02%
Short Ratio4.33
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.81% |
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)-0.56%
PT rev (3m)-4.79%
EPS NQ rev (1m)-37.88%
EPS NQ rev (3m)-58.32%
EPS NY rev (1m)-8.04%
EPS NY rev (3m)-25.32%
Revenue NQ rev (1m)-1.25%
Revenue NQ rev (3m)-36.46%
Revenue NY rev (1m)-2.26%
Revenue NY rev (3m)-31.66%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 59.41 | ||
| Fwd PE | 37 | ||
| P/S | 3.06 | ||
| P/FCF | 25.54 | ||
| P/OCF | 15.23 | ||
| P/B | 1.88 | ||
| P/tB | 1.88 | ||
| EV/EBITDA | 8.52 |
EPS(TTM)0.39
EY1.68%
EPS(NY)0.63
Fwd EY2.7%
FCF(TTM)0.91
FCFY3.91%
OCF(TTM)1.52
OCFY6.57%
SpS7.56
BVpS12.29
TBVpS12.29
PEG (NY)N/A
PEG (5Y)134.86
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 | 2.47 |
F-Score8
WACC7.34%
ROIC/WACC1.36
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-9.54%
EPS Next 2Y16.67%
EPS Next 3Y10.43%
EPS Next 5Y9.59%
Revenue 1Y (TTM)12.61%
Revenue growth 3Y4.41%
Revenue growth 5Y12.16%
Sales Q2Q%-50.68%
Revenue Next Year-40.18%
Revenue Next 2Y-21.13%
Revenue Next 3Y-12.51%
Revenue Next 5Y-8.29%
EBIT growth 1Y76.61%
EBIT growth 3Y16.45%
EBIT growth 5Y29.66%
EBIT Next Year141.12%
EBIT Next 3Y39.53%
EBIT Next 5Y20.57%
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%