PotlatchDeltic Corporation (PCH) 10-Year Financial Performance & Capital Metrics

PCH • • REIT / Real Estate

Real EstateSpecialty REITsTimberland & FarmlandTimberland REITs

AboutPotlatchDeltic (NASDAQ:PCH) is a leading Real Estate Investment Trust (REIT) that owns 1.8 million acres of timberlands in Alabama, Arkansas, Idaho, Louisiana, Minnesota and Mississippi. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a residential and commercial real estate development business and a rural timberland sales program. PotlatchDeltic, a leader in sustainable forest management, is committed to environmental and social responsibility and to responsible governance.Show more

Revenue $1.06B +3.7%
FFO $18M -90.2%
FFO/Share 0.23 -90.1%
FFO Payout 792.68% +911.6%
FFO per Share 0.23 -90.1%
NOI Margin 10.96% -9.8%
FFO Margin 1.69% -90.6%
ROE 1.04% -62.9%
ROA 0.65% -63.5%
Debt/Assets 31.3% +3.9%
Net Debt/EBITDA 30.17 +676.7%
Book Value/Share 25.68 -5.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FFO growing 26.0% TTM
✓Healthy dividend yield of 4.2%

✗Weaknesses

✗Profits declining 17.0% over 5 years
✗Dividend exceeds FFO - may not be sustainable
✗Low NOI margin of 11.0%
✗Dividend payout exceeds 100% of earnings

Price & Volume

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Growth Metrics

Revenue CAGR

10Y5.75%

5Y5.13%

3Y-7.4%

TTM5.4%

Profit (Net Income) CAGR

10Y-13.18%

5Y-17.04%

3Y-62.77%

TTM288.38%

EPS CAGR

10Y-18.63%

5Y-19.34%

3Y-64.5%

TTM297.82%

ROCE

10Y Avg9.92%

5Y Avg11.14%

3Y Avg6.37%

Latest1.06%

Peer Comparison

Timberland REITs

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PCHPotlatchDeltic Corporation	3.31B	42.83	152.96	3.71%	5.76%	3.37%	2.04%	0.51
WYWeyerhaeuser Company	18.56B	25.75	47.69	-7.17%	4.65%	3.51%	1.84%	0.53
RYNRayonier Inc.	3.74B	23.19	9.70	19.5%	70.95%	33.36%	4.25%	0.65

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	575.34M	599.1M	678.6M	974.58M	827.1M	1.04B	1.34B	1.33B	1.02B	1.06B
Revenue Growth %	-0.05%	0.04%	0.13%	0.44%	-0.15%	0.26%	0.28%	-0%	-0.23%	0.04%
Property Operating Expenses	470.04M	462.3M	470.37M	707.64M	682.07M	687.78M	715.85M	806.82M	899.58M	945.67M
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	46.39M	52.72M	60.39M	59.86M	48.75M	72.52M	70.07M	74.88M	38.75M	83.21M
G&A Expenses	46.39M	52.72M	55.41M	59.86M	57.92M	72.52M	73.43M	76.51M	75.73M	83.21M
EBITDA+	97.01M	550.58M	676.27M	952.46M	168.39M	356.89M	628.94M	547.32M	206.9M	29.27M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	38.1M	515.02M	530.75M	767.51M	72.11M	76.26M	77.42M	98.23M	121.15M	-3.92M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	58.91M	35.55M	145.52M	184.95M	96.28M	280.63M	551.52M	449.08M	85.75M	33.19M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	32.76M	28.94M	27.05M	35.23M	30.36M	29.46M	29.27M	27.4M	24.22M	28.92M
Interest Coverage	1.80x	1.23x	5.38x	5.25x	3.17x	9.52x	18.84x	16.39x	3.54x	1.15x
Non-Operating Income	0	-48.52M	0	7.65M	9.25M	0	13.23M	22.37M	-353K	-3.92M
Pretax Income+	26.15M	6.61M	118.47M	142.08M	56.67M	193.95M	509.02M	399.31M	61.88M	8.19M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	-5.57M	-4.33M	32.02M	19.2M	1.01M	27.12M	85.16M	65.41M	-216K	-13.69M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	31.71M	10.94M	86.45M	122.88M	55.66M	166.83M	423.86M	333.9M	62.1M	21.88M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.65%	-0.66%	6.9%	0.42%	-0.55%	2%	1.54%	-0.21%	-0.81%	-0.65%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	-0.4%	6.53%	0.17%	0.44%	-0.86%	0.9%	1.06%	-0.14%	-0.58%	-0.9%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	0.77	0.27	2.10	1.99	0.82	2.47	6.26	4.58	0.77	0.28
EPS Growth %	-0.65%	-0.65%	6.78%	-0.05%	-0.59%	2.01%	1.53%	-0.27%	-0.83%	-0.64%
EPS (Basic)	0.78	0.27	2.12	2.03	0.82	2.48	6.29	4.59	0.78	0.28
Diluted Shares Outstanding	40.99M	41.03M	41.23M	61.81M	67.74M	67.57M	67.72M	72.92M	80.17M	79.34M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	1.02B	927.68M	953.08M	2.33B	2.24B	2.38B	2.54B	3.55B	3.43B	3.31B
Asset Growth %	-0.02%	-0.09%	0.03%	1.44%	-0.04%	0.07%	0.06%	0.4%	-0.03%	-0.04%
Real Estate & Other Assets+	823.97M	649.16M	662.75M	1.69B	86.9M	1.7B	1.79B	2.72B	2.65B	2.58B
PP&E (Net)	75.28M	72.82M	77.23M	272.19M	1.95B	304.45M	307.27M	333.37M	388.35M	408.91M
Investment Securities	687K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Current Assets+	70.75M	163.65M	193.31M	262.2M	183.44M	357.12M	421.18M	471.54M	376.93M	299.13M
Cash & Equivalents	7.89M	82.58M	120.46M	76.64M	83.31M	252.34M	296.15M	343.81M	230.12M	151.55M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	7K	32K	3.76M	93.03M	9.21M	3.29M	5.48M	7.82M	9.75M	5.02M
Intangible Assets	0	0	0	17.83M	17.05M	16.3M	15.5M	17.42M	15.64M	13.86M
Total Liabilities	812.88M	771.41M	752.54M	1.01B	1.01B	1.08B	1.01B	1.29B	1.26B	1.27B
Total Debt+	633.88M	583.99M	573.32M	755.36M	796.99M	761.65M	758.26M	1.03B	1.03B	1.03B
Net Debt	626M	501.4M	452.86M	678.73M	713.68M	509.31M	462.11M	688.87M	803.61M	883.1M
Long-Term Debt	598.87M	572.96M	559.06M	715.39M	732.89M	717.37M	715.28M	992.7M	858.11M	935.1M
Short-Term Borrowings	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Capital Lease Obligations	13.91M	14.59M	15.16M	16.73M	18.12M	4.3M	0	0	0	35M
Total Current Liabilities+	80.72M	60.58M	84.88M	136.28M	113.25M	139.83M	126.18M	139.77M	262.53M	200.28M
Accounts Payable	6.35M	8.38M	9.36M	12.07M	12.73M	9.72M	12.75M	12.24M	12.52M	16.99M
Deferred Revenue	1.57M	-4.66M	5.17M	6M	0	8.79M	8.39M	10.86M	10.46M	0
Other Liabilities	133.28M	137.87M	118.68M	127.39M	149.6M	201.17M	132.75M	113.14M	102.87M	111.27M
Total Equity+	203.74M	657.65M	653.39M	1.99B	1.23B	1.3B	1.53B	2.26B	2.17B	2.04B
Equity Growth %	-0.09%	2.23%	-0.01%	2.05%	-0.38%	0.06%	0.17%	0.48%	-0.04%	-0.06%
Shareholders Equity	203.74M	156.27M	200.54M	1.31B	1.23B	1.3B	1.53B	2.26B	2.17B	2.04B
Minority Interest	0	501.37M	452.85M	678.73M	0	0	0	0	0	0
Common Stock	40.68M	40.52M	40.61M	67.57M	67.22M	66.88M	69.06M	79.68M	79.36M	78.68M
Additional Paid-in Capital	350.54M	355.27M	359.14M	1.66B	1.67B	1.67B	1.78B	2.29B	2.3B	2.32B
Retained Earnings	-72.98M	-128.78M	-104.36M	-282.39M	-359.33M	-315.51M	-280.91M	-208.98M	-315.29M	-470.33M
Preferred Stock	0	0	0	431K	0	0	0	0	0	0
Return on Assets (ROA)	0.03%	0.01%	0.09%	0.07%	0.02%	0.07%	0.17%	0.11%	0.02%	0.01%
Return on Equity (ROE)	0.15%	0.03%	0.13%	0.09%	0.03%	0.13%	0.3%	0.18%	0.03%	0.01%
Debt / Assets	0.62%	0.63%	0.6%	0.32%	0.36%	0.32%	0.3%	0.29%	0.3%	0.31%
Debt / Equity	3.11x	0.89x	0.88x	0.38x	0.65x	0.58x	0.50x	0.46x	0.48x	0.51x
Net Debt / EBITDA	6.45x	0.91x	0.67x	0.71x	4.24x	1.43x	0.73x	1.26x	3.88x	30.17x
Book Value per Share	4.97	16.03	15.85	32.25	18.11	19.31	22.54	31.04	27.08	25.68

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	74.01M	102.12M	162.66M	178.89M	139.07M	335.26M	504.89M	491.9M	159.11M	188.47M
Operating CF Growth %	-0.44%	0.38%	0.59%	0.1%	-0.22%	1.41%	0.51%	-0.03%	-0.68%	0.18%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	31.71M	10.94M	86.45M	122.88M	55.66M	166.83M	423.86M	333.9M	62.1M	0
Depreciation & Amortization	38.1M	34.19M	29.91M	73.16M	100.87M	169.89M	126.86M	98.23M	0	0
Stock-Based Compensation	4.76M	4.39M	4.72M	8.21M	7.27M	8.06M	8.61M	18.5M	9.12M	0
Other Non-Cash Items	9.95M	64.51M	12.83M	-25.23M	-15.26M	-17.98M	-21.27M	37.12M	123.35M	189.5M
Working Capital Changes	-4.82M	-13.77M	13.38M	-12.29M	1.56M	23.07M	-33.2M	9.41M	-26.19M	-1.02M
Cash from Investing+	-14.26M	93.35M	-50.02M	-47.91M	4.52M	-42.19M	-59.15M	-147.52M	-95.3M	-92.06M
Acquisitions (Net)	0	111.46M	0	3.42M	61.18M	1.37M	15M	23.57M	0	0
Purchase of Investments	0	0	0	0	0	0	0	0	0	0
Sale of Investments	0	0	0	0	0	0	0	0	0	0
Other Investing	28.71M	113.88M	85K	807K	809K	2.22M	1.27M	13.71M	612K	-92.06M
Cash from Financing+	-56.52M	-120.81M	-74.77M	-172M	-138.77M	-124.98M	-401.31M	-295.56M	-171.71M	-182.37M
Dividends Paid	-61.02M	-60.84M	-61.93M	-146.77M	-107.72M	-107.85M	-388.24M	-208.13M	-143.59M	-142.35M
Common Dividends	-61.02M	-60.84M	-61.93M	-146.77M	-107.72M	-107.85M	-388.24M	-208.13M	-143.59M	-142.35M
Debt Issuance (Net)	1000K	-1000K	-1000K	-1000K	0	0	-1000K	-1000K	0	265K
Share Repurchases	0	-5.96M	0	0	-25.17M	-15.36M	0	-54.55M	-25.01M	-35.02M
Other Financing	-3M	-3.91M	-1.83M	-4.98M	-5.88M	-1.77M	-6.7M	-7.38M	-3.1M	-5.27M
Net Change in Cash+	3.24M	74.66M	37.87M	-41.02M	4.81M	168.09M	44.43M	48.82M	-107.9M	-85.96M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	4.64M	7.92M	82.58M	120.46M	79.44M	84.25M	252.34M	296.77M	345.59M	237.69M
Cash at End	7.89M	82.58M	120.46M	79.44M	84.25M	252.34M	296.77M	345.59M	237.69M	151.72M
Free Cash Flow+	31.05M	81.58M	112.55M	126.76M	81.59M	289.48M	429.47M	307.1M	37.5M	67.47M
FCF Growth %	1.11%	1.63%	0.38%	0.13%	-0.36%	2.55%	0.48%	-0.28%	-0.88%	0.8%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
FFO per Share	1.7	12.82	14.97	14.4	1.89	3.6	7.4	5.93	2.29	0.23
FFO Payout Ratio	87.39%	11.57%	10.03%	16.48%	84.31%	44.37%	77.45%	48.16%	78.36%	792.68%
NOI Margin	18.3%	22.83%	30.69%	27.39%	17.54%	33.93%	46.48%	39.37%	12.16%	10.96%
Net Debt / EBITDA	6.45x	0.91x	0.67x	0.71x	4.24x	1.43x	0.73x	1.26x	3.88x	30.17x
Debt / Assets	62.35%	62.95%	60.15%	32.47%	35.66%	31.99%	29.91%	29.09%	30.13%	31.3%
Interest Coverage	1.80x	1.23x	5.38x	5.25x	3.17x	9.52x	18.84x	16.39x	3.54x	1.15x
Book Value / Share	4.97	16.03	15.85	32.25	18.11	19.31	22.54	31.04	27.08	25.68
Revenue Growth	-5.21%	4.13%	13.27%	43.62%	-15.13%	25.85%	28.48%	-0.5%	-23.05%	3.71%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Wood Products	336.21M	367.43M	441.16M	680.93M	540.41M	698.4M	988.89M	912.61M	635.67M	601.92M
Wood Products Growth	-	9.28%	20.07%	54.35%	-20.64%	29.24%	41.59%	-7.71%	-30.35%	-5.31%
Timberlands	-	-	-	-	153.28M	157.09M	147.99M	485.59M	411.08M	392.17M
Timberlands Growth	-	-	-	-	-	2.49%	-5.79%	228.12%	-15.34%	-4.60%
Real Estate	-	32.6M	30.66M	54.57M	78.87M	104.42M	63.81M	91.49M	87.99M	170.63M
Real Estate Growth	-	-	-5.98%	78.00%	44.54%	32.39%	-38.89%	43.37%	-3.83%	93.92%
Resource	263.88M	256.16M	278.2M	141M	-	-	-	-	-	-
Resource Growth	-	-2.92%	8.60%	-49.32%	-	-	-	-	-	-
Operatings	629.08M	-	-	-	-	-	-	-	-	-
Operatings Growth	-	-	-	-	-	-	-	-	-	-
Real Estate	28.99M	-	-	-	-	-	-	-	-	-
Real Estate Growth	-	-	-	-	-	-	-	-	-	-
Eliminations and Adjustments	-53.74M	-	-	-	-	-	-	-	-	-
Eliminations and Adjustments Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	573.4M	597.9M	676.96M	972.46M	825.11M	-	-	-	-	-
UNITED STATES Growth	-	4.27%	13.22%	43.65%	-15.15%	-	-	-	-	-
MEXICO	919K	1.03M	1.16M	1.5M	1.86M	-	-	-	-	-
MEXICO Growth	-	11.75%	12.76%	29.36%	24.50%	-	-	-	-	-
CANADA	851K	173K	481K	624K	128K	-	-	-	-	-
CANADA Growth	-	-79.67%	178.03%	29.73%	-79.49%	-	-	-	-	-
Non-US	168K	-	-	-	-	-	-	-	-	-
Non-US Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

PotlatchDeltic Corporation (PCH) has a price-to-earnings (P/E) ratio of 153.0x. This suggests investors expect higher future growth.

Growth & Financials

PotlatchDeltic Corporation (PCH) reported $1.12B in revenue for fiscal year 2024. This represents a 124% increase from $497.4M in 2011.

PotlatchDeltic Corporation (PCH) grew revenue by 3.7% over the past year. Growth has been modest.

Yes, PotlatchDeltic Corporation (PCH) is profitable, generating $64.2M in net income for fiscal year 2024 (2.1% net margin).

Dividend & Returns

Yes, PotlatchDeltic Corporation (PCH) pays a dividend with a yield of 4.19%. This makes it attractive for income-focused investors.

PotlatchDeltic Corporation (PCH) has a return on equity (ROE) of 1.0%. This is below average, suggesting room for improvement.

Industry Metrics

PotlatchDeltic Corporation (PCH) generated Funds From Operations (FFO) of $169.5M in the trailing twelve months. FFO is the primary profitability metric for REITs.

PotlatchDeltic Corporation (PCH) offers a 4.19% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

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