RAYONIER INC (RYN) Stock Fundamental Analysis
NYSE:RYN - New York Stock Exchange, Inc. - US7549071030 - REIT - Currency: USD
We assign a fundamental rating of 6 out of 10 to RYN. RYN was compared to 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. 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.
RYN had a positive operating cash flow in the past year.
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
Looking at the Return On Assets, with a value of 10.57%, RYN belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
RYN's Return On Equity of 18.50% is amongst the best of the industry. RYN outperforms 86.67% of its industry peers.
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.
Measured over the past 3 years, the Average Return On Invested Capital for RYN is in line with the industry average of 5.27%.
The 3 year average ROIC (6.20%) for RYN is below the current ROIC(9.97%), indicating increased profibility in the last year.
| 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
Looking at the Profit Margin, with a value of 30.09%, RYN is in the better half of the industry, outperforming 76.67% of the companies in the same industry.
RYN's Profit Margin has improved in the last couple of years.
With a Operating Margin value of 32.87%, RYN is not doing good in the industry: 60.00% of the companies in the same industry are doing better.
RYN's Operating Margin has improved in the last couple of years.
RYN has a worse Gross Margin (39.16%) than 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.
RYN has about the same amout of shares outstanding than it did 1 year ago.
RYN has more shares outstanding than it did 5 years ago.
RYN has a better debt/assets ratio than last year.
2.2 Solvency
RYN has an Altman-Z score of 2.51. 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.
The Altman-Z score of RYN (2.51) is better than 90.00% of its industry peers.
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.
The Debt to FCF ratio of RYN (7.39) is better than 86.67% of its industry peers.
A Debt/Equity ratio of 0.55 indicates that RYN is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.55, RYN belongs to the top of the industry, outperforming 86.67% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.55 | ||
| Debt/FCF | 7.39 | ||
| Altman-Z | 2.51 |
ROIC/WACC1.33
WACC7.52%
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.
A Quick Ratio of 2.60 indicates that RYN has no problem at all paying its short term obligations.
Looking at the Quick ratio, with a value of 2.60, RYN belongs to the top of the industry, outperforming 93.33% of the companies in the same industry.
| 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.
Looking at the last year, RYN shows a quite strong growth in Revenue. The Revenue has grown by 12.61% in the last year.
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
Based on estimates for the next years, RYN will show a quite strong growth in Earnings Per Share. The EPS will grow by 11.93% on average per year.
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.
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 60.49, RYN can be considered very expensive at the moment.
Based on the Price/Earnings ratio, RYN is valued a bit more expensive than the industry average as 60.00% of the companies are valued more cheaply.
Compared to an average S&P500 Price/Earnings ratio of 25.91, RYN is valued quite expensively.
With a Price/Forward Earnings ratio of 37.55, RYN can be considered very expensive at the moment.
RYN's Price/Forward Earnings is on the same level as the industry average.
The average S&P500 Price/Forward Earnings ratio is at 21.77. RYN is valued rather expensively when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 60.49 | ||
| Fwd PE | 37.55 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, RYN is valued cheaply inside the industry as 96.67% of the companies are valued more expensively.
RYN's Price/Free Cash Flow ratio is in line with the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 26.01 | ||
| EV/EBITDA | 8.68 |
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)137.3
EPS Next 2Y16.86%
EPS Next 3Y10.43%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 4.68%, RYN is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 5.71, 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 2.40.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.68% |
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.
The dividend of RYN decreased in the last 3 years.
Dividend Growth(5Y)4.39%
Div Incr Years1
Div Non Decr Years2
5.3 Sustainability
67.37% of the earnings are spent on dividend by RYN. 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%
23.59
+0.28 (+1.2%)
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 Change6.67%
Ins Owners0.4%
Ins Owner Change10.13%
Market Cap3.67B
Analysts72
Price Target30.6 (29.72%)
Short Float %2.96%
Short Ratio3.77
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.68% |
Yearly Dividend1.35
Dividend Growth(5Y)4.39%
DP67.37%
Div Incr Years1
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)-4.26%
PT rev (3m)-4.46%
EPS NQ rev (1m)-32.9%
EPS NQ rev (3m)-32.54%
EPS NY rev (1m)-18.79%
EPS NY rev (3m)-18.55%
Revenue NQ rev (1m)-35.65%
Revenue NQ rev (3m)-38.94%
Revenue NY rev (1m)-24.48%
Revenue NY rev (3m)-29.59%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 60.49 | ||
| Fwd PE | 37.55 | ||
| P/S | 3.12 | ||
| P/FCF | 26.01 | ||
| P/OCF | 15.51 | ||
| P/B | 1.92 | ||
| P/tB | 1.92 | ||
| EV/EBITDA | 8.68 |
EPS(TTM)0.39
EY1.65%
EPS(NY)0.63
Fwd EY2.66%
FCF(TTM)0.91
FCFY3.85%
OCF(TTM)1.52
OCFY6.45%
SpS7.56
BVpS12.29
TBVpS12.29
PEG (NY)N/A
PEG (5Y)137.3
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 | 2.51 |
F-Score8
WACC7.52%
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%