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RYN logoRayonier Inc.(RYN)Earnings, Financials & Key Ratios

RYN•NYSE•REIT / Real Estate
$20.70
$6.26B mkt cap·44.0× P/E·Price updated May 6, 2026
SectorReal EstateIndustrySpecialty REITsSub-IndustryLand and Agriculture REITs
AboutRayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand. As of December 31, 2020, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S. South (1.73 million acres), U.S. Pacific Northwest (507,000 acres) and New Zealand (417,000 acres). The Company also acts as the managing member in a private equity timber fund business with three funds comprising approximately 141,000 acres. On a look-through basis, the Company's ownership in the timber fund business equates to approximately 17,000 acres.Show more
  • Revenue$485M-61.6%
  • FFO$590M+18.1%
  • FFO/Share3.72+13.2%
  • FFO Payout49.51%+23.3%
  • FFO per Share3.72+13.2%
  • NOI Margin32.47%-14.2%
  • FFO Margin121.78%+208.0%
  • ROE23.24%+22.7%
  • ROA13.79%+36.8%
  • Debt/Assets25.23%-26.1%
  • Net Debt/EBITDA0.08-94.9%
  • Book Value/Share14.18+17.7%
Technical→

RYN Key Insights

Rayonier Inc. (RYN) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong 5Y profit CAGR of 66.5%
  • ✓FFO growing 190.7% TTM
  • ✓Sustainable FFO payout ratio of 49.5%
  • ✓Good 3Y average ROE of 17.0%
  • ✓Trading at only 1.5x book value

✗Weaknesses

  • ✗Low NOI margin of 32.5%

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

RYN Price & Volume

Rayonier Inc. (RYN) stock price & volume — 10-year historical chart

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RYN Growth Metrics

Rayonier Inc. (RYN) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-1.17%
5 Years-10.82%
3 Years-18.92%
TTM24.84%

Profit CAGR

10 Years26.23%
5 Years66.49%
3 Years64.24%
TTM387.95%

EPS CAGR

10 Years2.42%
5 Years11.72%
3 Years-13.65%
TTM379.01%

Return on Capital

10 Years6.41%
5 Years6.61%
3 Years6.91%
Last Year2.65%

RYN Recent Earnings

Rayonier Inc. (RYN) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 6/12 qtrs (50%)●Beat Revenue 4/12 qtrs (33%)
Q1 2026Latest
Feb 11, 2026
EPS
$0.20
Est $0.12
+66.7%
Revenue
$118M
Est $109M
+7.6%
Q4 2025
Nov 5, 2025
EPS
$0.32
Est $0.23
+39.1%
Revenue
$178M
Est $162M
+9.4%
Q3 2025
Aug 6, 2025
EPS
$0.06
Est $0.03
+100.0%
Revenue
$107M
Est $138M
-23.1%
Q2 2025
Apr 30, 2025
EPS
$0.02
Est $0.08
-125.0%
Revenue
$83M
Est $153M
-45.9%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q1 2026LatestFeb 11, 2026
$0.20vs $0.12+66.7%
$118Mvs $109M+7.6%
Q4 2025Nov 5, 2025
$0.32vs $0.23+39.1%
$178Mvs $162M+9.4%
Q3 2025Aug 6, 2025
$0.06vs $0.03+100.0%
$107Mvs $138M-23.1%
Q2 2025Apr 30, 2025
$0.02vs $0.08-125.0%
$83Mvs $153M-45.9%
Based on last 12 quarters of dataView full earnings history →

RYN Peer Comparison

Rayonier Inc. (RYN) competitors in Land and Agriculture REITs — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
PCH logoPCHPotlatchDeltic CorporationDirect Competitor3.23B41.73149.043.71%5.76%3.26%2.09%0.51
WY logoWYWeyerhaeuser CompanyDirect Competitor17.09B23.7052.67-3.07%5.74%4.2%0.52%0.59
LPX logoLPXLouisiana-Pacific CorporationProduct Competitor5.93B69.7533.53-7.92%5.39%8.43%1.53%0.23
WFG logoWFGWest Fraser Timber Co. Ltd.Product Competitor4.54B59.71-4.9023.51%-25.15%-19.85%0.06
IP logoIPInternational Paper CompanySupply Chain16.86B31.85-4.7533.71%-13.42%-20.44%0.73
PKG logoPKGPackaging Corporation of AmericaSupply Chain19.87B222.7125.967.23%8.6%16.73%3.67%0.95
CLW logoCLWClearwater Paper CorporationSupply Chain219.14M13.59-10.9612.42%-1.76%-3.31%0.51
NTR logoNTRNutrien Ltd.Supply Chain37.33B77.2416.305.33%8.44%8.97%5.46%0.51

Compare RYN vs Peers

Rayonier Inc. (RYN) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs PCH

Most directly comparable listed peer for RYN.

Scale Benchmark

vs CAT

Larger-name benchmark to compare RYN against a more recognizable public peer.

Peer Set

Compare Top 5

vs PCH, WY, LPX, WFG

RYN Income Statement

Rayonier Inc. (RYN) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Revenue819.6M816.1M711.56M859.15M1.11B909.07M1.06B1.26B484.5M1.09B
Revenue Growth %3.97%-0.43%-12.81%20.74%29.15%-18.07%16.27%19.5%-61.64%24.84%
Property Operating Expenses568.3M605.2M558.35M712.44M796.12M688.28M762.57M784.83M327.2M624.76M
Net Operating Income (NOI)
251.3M▲ 0%
210.9M▼ 16.1%
153.21M▼ 27.4%
146.72M▼ 4.2%
313.48M▲ 113.7%
220.79M▼ 29.6%
294.36M▲ 33.3%
478.16M▲ 62.4%
157.3M▼ 67.1%
468.52M▲ 0%
NOI Margin %30.66%25.84%21.53%17.08%28.25%24.29%27.85%37.86%32.47%42.85%
Operating Expenses35.8M40.8M46.18M72.33M43.71M54.97M83.08M75.7M74M66M
G&A Expenses40.2M41.9M41.65M50.65M57.79M64.67M74.77M74.42M065.64M
EBITDA343.07M314.22M235.26M239.38M425.5M313.16M369.51M542.72M198.9M526.92M
EBITDA Margin %41.86%38.5%33.06%27.86%38.35%34.45%34.96%42.97%41.05%48.2%
Depreciation & Amortization127.57M144.12M128.24M165M155.72M147.34M158.23M140.25M115.6M124.4M
D&A / Revenue %15.56%17.66%18.02%19.2%14.03%16.21%14.97%11.1%23.86%11.38%
Operating Income
215.5M▲ 0%
170.1M▼ 21.1%
107.03M▼ 37.1%
74.39M▼ 30.5%
269.77M▲ 262.7%
165.82M▼ 38.5%
211.28M▲ 27.4%
402.47M▲ 90.5%
83.3M▼ 79.3%
402.52M▲ 0%
Operating Margin %26.29%20.84%15.04%8.66%24.31%18.24%19.99%31.87%17.19%36.82%
Interest Expense34.1M32.1M31.7M38.8M44.9M36.2M48.3M36.92M26.3M4M
Interest Coverage6.32x5.30x3.38x1.92x6.01x4.58x4.37x10.90x3.17x-
Non-Operating Income-1.84M-4.56M-5.31M-1.17M-280K-2.56M-20.68M-10.48M-17.6M-13.24M
Pretax Income
183.3M▲ 0%
142.6M▼ 22.2%
80.62M▼ 43.5%
36.79M▼ 54.4%
225.15M▲ 511.9%
132.18M▼ 41.3%
183.62M▲ 38.9%
376.03M▲ 104.8%
74.6M▼ 80.2%
388.72M▲ 0%
Pretax Margin %22.36%17.47%11.33%4.28%20.29%14.54%17.37%29.77%15.4%35.56%
Income Tax21.8M25.3M12.94M7.01M14.66M9.39M5.12M7.05M500K7.64M
Effective Tax Rate %11.89%17.74%16.05%19.05%6.51%7.1%2.79%1.87%0.67%1.96%
Net Income
148.8M▲ 0%
102.2M▼ 31.3%
59.1M▼ 42.2%
37.08M▼ 37.3%
152.55M▲ 311.4%
107.08M▼ 29.8%
173.49M▲ 62.0%
359.15M▲ 107.0%
474.4M▲ 32.1%
775.6M▲ 0%
Net Margin %18.16%12.52%8.31%4.32%13.75%11.78%16.41%28.44%97.92%70.94%
Net Income Growth %-29.81%-31.32%-42.17%-37.26%311.36%-29.81%62.03%107.01%32.09%387.95%
Funds From Operations (FFO)
276.37M▲ 0%
246.32M▼ 10.9%
187.34M▼ 23.9%
202.08M▲ 7.9%
308.27M▲ 52.5%
254.42M▼ 17.5%
331.72M▲ 30.4%
499.4M▲ 50.5%
590M▲ 18.1%
900M▲ 0%
FFO Margin %33.72%30.18%26.33%23.52%27.78%27.99%31.39%39.54%121.78%82.32%
FFO Growth %-15.52%-10.87%-23.94%7.87%52.55%-17.47%30.39%50.55%18.14%1149.67%
FFO per Share2.161.901.451.482.121.692.203.283.725.76
FFO Payout Ratio %45.98%55.53%75.3%72.42%49.8%65.13%51.24%40.17%49.51%26.43%
EPS (Diluted)
1.16▲ 0%
0.79▼ 31.9%
0.46▼ 41.8%
0.27▼ 41.3%
1.08▲ 300.0%
0.73▼ 32.4%
1.17▲ 60.3%
2.39▲ 104.3%
0.47▼ 80.3%
4.96▲ 0%
EPS Growth %-32.95%-31.9%-41.77%-41.3%300%-32.41%60.27%104.27%-80.33%379.01%
EPS (Basic)1.170.790.460.281.080.731.192.410.47-
Diluted Shares Outstanding127.81M129.69M129.6M136.94M145.3M150.15M151.07M152.1M158.71M156.36M

RYN Balance Sheet

Rayonier Inc. (RYN) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Assets2.86B2.78B2.86B3.73B3.64B3.79B3.65B3.47B3.4B3.49B
Asset Growth %6.43%-2.72%2.89%30.33%-2.48%4.21%-3.74%-4.75%-2.01%-11.21%
Real Estate & Other Assets2.57B2.46B2.6B3.41B3.04B3.45B184.63M2.91B100.9M2.48B
PP&E (Net)23.3M22.8M122.19M139.39M131.46M124.36M3.13B101.05M34.8M36.18M
Investment Securities1000K1000K00001000K1000K1000K0
Total Current Assets183.6M207.85M125.97M170.56M451.43M202.38M316.96M436.89M842.9M972.92M
Cash & Equivalents112.7M148.4M68.73M84.51M362.17M114.25M207.7M323.16M842.9M919.58M
Receivables1000K1000K1000K1000K1000K1000K1000K1000K01000K
Other Current Assets3.05M609K867K10.21M12.19M1.29M38.08M25.41M07.41M
Intangible Assets4.09M3.78M003.12M5.79M5.43M4.87M00
Total Liabilities1.17B1.13B1.32B1.74B1.69B1.8B1.69B1.64B-1.19B1.17B
Total Debt1.03B972.6M1.15B1.46B1.46B1.6B1.45B1.19B859M1.06B
Net Debt912.7M824.2M1.08B1.38B1.1B1.49B1.25B862.35M16.1M141.09M
Long-Term Debt1.02B972.57M973.13M1.36B1.24B1.51B1.37B1.09B859M845.12M
Short-Term Borrowings3.38M082M0124.97M0019.44M200M199.97M
Capital Lease Obligations0090.48M100.25M93.42M88.76M87.68M76.3M13.7M122.66M
Total Current Liabilities68.5M63.5M151.19M91.14M231.72M95.33M140.28M388.71M200M282.56M
Accounts Payable25.15M18.02M18.16M24.79M23.45M22.1M26.56M26.06M013.57M
Deferred Revenue9.72M10.45M11.44M11.11M17.8M22.76M19.01M20.9M025.51M
Other Liabilities72.96M90.03M108.56M184.07M119M97.2M83.3M76.57M-1.07B12.46M
Total Equity
1.69B▲ 0%
1.65B▼ 2.3%
1.54B▼ 7.1%
1.99B▲ 29.6%
1.95B▼ 2.2%
1.99B▲ 1.9%
1.96B▼ 1.4%
1.83B▼ 6.5%
2.25B▲ 22.8%
2.32B▲ 0%
Equity Growth %13.1%-2.27%-7.07%29.6%-2.18%1.9%-1.37%-6.48%22.8%46.88%
Shareholders Equity1.59B1.56B1.44B1.47B1.77B1.87B1.86B1.77B2.21B2.28B
Minority Interest99.9M97.7M97.66M518.71M177.63M121.08M98.72M63.06M40.5M46.24M
Common Stock872.23M884.26M888.18M1.1B1.39B1.46B1.5B1.52B1.9B1.74B
Additional Paid-in Capital872.23M884.26M00000000
Retained Earnings707.38M0583.01M446.27M402.31M366.64M338.24M257.25M280.9M514.23M
Preferred Stock0000000000
Return on Assets (ROA)5.37%3.62%2.1%1.13%4.14%2.88%4.67%10.09%13.79%22.21%
Return on Equity (ROE)9.33%6.11%3.7%2.1%7.74%5.44%8.79%18.94%23.24%33.36%
Debt / Assets35.87%34.98%40.04%39.18%40.18%42.32%39.85%34.12%25.23%30.38%
Debt / Equity0.61x0.59x0.75x0.73x0.75x0.81x0.74x0.65x0.38x0.38x
Net Debt / EBITDA2.66x2.62x4.58x5.75x2.58x4.76x3.37x1.59x0.08x0.08x
Book Value per Share13.2512.7611.8614.5513.4213.2312.9712.0514.1814.87

RYN Cash Flow Statement

Rayonier Inc. (RYN) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations256.3M310.1M214.3M204.2M325.1M269.2M298.38M261.59M00
Operating CF Growth %25.76%20.99%-30.89%-4.71%59.21%-17.19%10.84%-12.33%-100%37.01%
Operating CF / Revenue %31.27%38%30.12%23.77%29.3%29.61%28.23%20.71%0%0%
Net Income161.5M117.3M67.7M29.8M210.5M122.8M173.49M368.98M480.4M775.6M
Depreciation & Amortization46.92M138.44M122.58M166.33M80.7M147.34M00106.5M90.81M
Stock-Based Compensation5.4M6.43M6.9M8.03M9.28M12.36M13.7M14.2M11M10.71M
Other Non-Cash Items27.2M27.3M13.7M4.7M6.8M14.26M105.74M-100.97M-595.5M-574.63M
Working Capital Changes-6.7M-2.2M-7.9M-12.2M9.3M-22.2M5.17M-23.22M0-25.86M
Cash from Investing-235.25M-132.85M-219.4M-213.6M-26.3M-516.4M124.09M354.01M01.07B
Acquisitions (Net)000-231.1M191.64M442.73M0000
Purchase of Investments00-149.09M-31.16M-191.64M-472.23M0000
Sale of Investments0001000K1000K1000K0000
Other Investing-229.17M-13M135.99M24.19M43.1M16.9M138.15M433.79M01.13B
Cash from Financing-6.9M-193.7M-79.6M27M-16.3M-4.6M-328.87M-479.36M0-521.52M
Dividends Paid-127.1M-136.8M-141.07M-146.35M-153.51M-165.71M-169.99M-200.57M-292.1M-237.85M
Common Dividends-127.07M-136.77M-141.07M-146.35M-153.51M-165.71M-169.99M-200.6M0-237.85M
Debt Issuance (Net)-1000K-1000K1000K1000K1000K1000K-1000K-1000K0-1000K
Share Repurchases-176K-2.98M-12.68M-4.76M-1.62M-4.22M-4.3M-18.87M-70.5M-85.04M
Other Financing-27.25M-556K-7.9M10.11M-118.38M40.34M-4.67M-9.93M292.1M-8.63M
Net Change in Cash
26.8M▲ 0%
-16M▼ 159.7%
-86.5M▼ 440.6%
17.5M▲ 120.2%
281.6M▲ 1509.1%
-253.7M▼ 190.1%
92.97M▲ 136.6%
134.83M▲ 45.0%
0▼ 100.0%
843.01M▲ 0%
Exchange Rate Effect600K500K-1000K-100K-900K-1000K-621K-1000K1000K-972K
Cash at Beginning85.9M172.5M156.5M70M87.5M369.1M115.41M208.4M323.1M892.93M
Cash at End112.7M156.5M70M87.5M369.1M115.4M208.37M343.2M0920.26M
Free Cash Flow
-58M▲ 0%
190.2M▲ 427.9%
8M▼ 95.8%
113M▲ 1312.5%
70M▼ 38.1%
-264.1M▼ 477.3%
202.87M▲ 176.8%
159.06M▼ 21.6%
0▼ 100.0%
211.93M▲ 0%
FCF Growth %74.53%427.93%-95.79%1312.5%-38.05%-477.29%176.81%-21.59%-100%15.91%
FCF / Revenue %-7.08%23.31%1.12%13.15%6.31%-29.05%19.19%12.59%0%19.38%

RYN Key Ratios

Rayonier Inc. (RYN) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201720182019202020212022202320242025TTM
FFO per Share2.161.91.451.482.121.692.23.283.725.76
FFO Payout Ratio45.98%55.53%75.3%72.42%49.8%65.13%51.24%40.17%49.51%26.43%
NOI Margin30.66%25.84%21.53%17.08%28.25%24.29%27.85%37.86%32.47%42.85%
Net Debt / EBITDA2.66x2.62x4.58x5.75x2.58x4.76x3.37x1.59x0.08x0.08x
Debt / Assets35.87%34.98%40.04%39.18%40.18%42.32%39.85%34.12%25.23%30.38%
Interest Coverage6.32x5.30x3.38x1.92x6.01x4.58x4.37x10.90x3.17x-
Book Value / Share13.2512.7611.8614.5513.4213.2312.9712.0514.1814.87
Revenue Growth3.97%-0.43%-12.81%20.74%29.15%-18.07%16.27%19.5%-61.64%24.84%

RYN SEC Filings & Documents

Rayonier Inc. (RYN) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Mar 18, 2026·SEC

Material company update

Mar 11, 2026·SEC

Material company update

Mar 2, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 23, 2026·SEC

FY 2025

Feb 21, 2025·SEC

FY 2024

Feb 23, 2024·SEC

10-Q Quarterly Reports

6
FY 2025

Nov 7, 2025·SEC

FY 2025

Aug 8, 2025·SEC

FY 2025

May 2, 2025·SEC

RYN Frequently Asked Questions

Rayonier Inc. (RYN) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Rayonier Inc. (RYN) reported $1.09B in revenue for fiscal year 2025. This represents a 7% decrease from $1.18B in 1996.

Rayonier Inc. (RYN) saw revenue decline by 61.6% over the past year.

Yes, Rayonier Inc. (RYN) is profitable, generating $775.6M in net income for fiscal year 2025 (97.9% net margin).

Dividend & Returns

Yes, Rayonier Inc. (RYN) pays a dividend with a yield of 8.89%. This makes it attractive for income-focused investors.

Rayonier Inc. (RYN) has a return on equity (ROE) of 23.2%. This is excellent, indicating efficient use of shareholder capital.

Industry Metrics

Rayonier Inc. (RYN) generated Funds From Operations (FFO) of $900.0M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Rayonier Inc. (RYN) offers a 8.89% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

Explore More RYN

Rayonier Inc. (RYN) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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