Rayonier Advanced Materials (RYAM)
NYSE:RYAM
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Rayonier Advanced Materials
(NYSE:RYAM)
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Rating:46Neutral
Price Target:
$9.50
▲(1.39% Upside)
Action:ReiteratedDate:04/25/26
The score is weighed down primarily by weak financial performance (shrinking revenue, losses, and a severe 2025 downturn with reduced cash-flow confidence). The earnings outlook is improving but remains uncertain due to high-cost debt/refinancing risk and expected volume losses tied to price increases; technicals are mixed and do not offset the fundamental risk, while valuation is difficult to interpret with negative earnings.
Positive Factors
Pricing in Specialties
Securing ~85% of specialty volumes at ~+18% is a durable structural lever: specialty contract pricing raises revenue predictability and supports margin recovery versus commodity grades. If maintained, it strengthens cash flow visibility and margin sustainability across the core higher‑value portfolio.
Negative Factors
Negative free cash flow & refinancing risk
A large FCF shortfall and high‑cost leverage are material structural constraints. Refinancing risk could raise fixed charges, limit capital allocation, and force prioritization away from growth or product investment. Persistent weak cash conversion would impair sustainability and restrict margin recovery efforts.
Read all positive and negative factors
Positive Factors
Negative Factors
Pricing in Specialties
Securing ~85% of specialty volumes at ~+18% is a durable structural lever: specialty contract pricing raises revenue predictability and supports margin recovery versus commodity grades. If maintained, it strengthens cash flow visibility and margin sustainability across the core higher‑value portfolio.
Read all positive factors
Rayonier Advanced Materials (RYAM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$639.56M
Dividend YieldN/A
Average Volume (3M)527.04K
Price to Earnings (P/E)―
Beta (1Y)1.42
Revenue Growth-10.06%
EPS Growth-970.11%
CountryUS
Employees2,350
SectorBasic Materials
Sector Strength58
IndustryChemicals
Share Statistics
EPS (TTM)-0.28
Shares Outstanding67,393,560
10 Day Avg. Volume696,472
30 Day Avg. Volume527,037
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)1.24
Price to Sales (P/S)0.27
P/FCF Ratio-4.28
Enterprise Value/Market Cap2.09
Enterprise Value/Revenue0.91
Enterprise Value/Gross Profit11.26
Enterprise Value/Ebitda9.35
Forecast
1Y Price Target
$14.00Price Target Upside49.41% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.69
Revenue Forecast (FY)$1.43B
Rayonier Advanced Materials Business Overview & Revenue Model
Company Description
Rayonier Advanced Materials Inc. manufactures and sells cellulose specialty products in the United States, China, Canada, Japan, Europe, Latin America, other Asian countries, and internationally. The company operates through High Purity Cellulose,...
How the Company Makes Money
RYAM primarily makes money by manufacturing and selling specialty cellulose and other cellulose-derived products to business customers under negotiated supply agreements and purchase orders. Its main revenue stream is the sale of high-purity cellu...
Rayonier Advanced Materials Earnings Call Summary
Earnings Call Date:Mar 03, 2026
(Q4-2025)
| Next Earnings Date:May 05, 2026
Earnings Call Sentiment Neutral
The call balanced clear and actionable management priorities (deliver positive free cash flow in 2026, assert pricing leadership in specialties, improve EBITDA across all businesses) and early operational progress (85% of specialties priced at +18%, product introductions, Tardis recovery actions) against material near-term financial and market challenges (negative $88M FCF in 2025, high-cost debt, expected ~20% volume loss from pricing actions, 15% of specialties unplaced, import and oversupply pressures). While management presented a cohesive plan with measurable levers and upcoming trade-remedy catalysts, the company faces meaningful execution and refinancing risk in the near term, leaving the tone cautiously constructive but uncertain.Positive Updates
Pricing Progress in Cellulose Specialties
85% of the specialties business is arranged at an average price increase of 18% versus 2025; management expects the remaining 15% (still under discussion) to come at an even higher average price increase if secured.
Negative Updates
Negative Free Cash Flow and High-Cost Debt
2025 free cash flow was negative $88 million and the company carries significant high-cost debt, which management calls unsustainable and a core near-term risk to be addressed through execution and a planned refi.
Read all updates
Q4-2025 Updates
Positive
Negative
Pricing Progress in Cellulose Specialties
85% of the specialties business is arranged at an average price increase of 18% versus 2025; management expects the remaining 15% (still under discussion) to come at an even higher average price increase if secured.
Read all positive updates
Company Guidance
Management's guidance focused on returning to positive free cash flow in 2026 after 2025 free cash flow of negative $88 million and addressing high‑cost debt, with 85% of the cellulose specialties book now contracted at an average +18% vs. 2025 (with ~20% expected volume loss vs. 2025) and the remaining 15% likely to require materially higher increases; nitration grades have seen increases above 18%. They expect every business to improve EBITDA versus 2025, to bridge a near‑zero EBITDA first quarter as leadership actions take hold, and to deliver a full‑year EBITDA substantially better than 2025 alongside “solid” positive free cash flow and momentum into 2027. Management also flagged potential upside from trade remedies (countervailing duty preliminaries in March for Brazil and antidumping preliminaries in May for Brazil and Norway) and plans to pursue a refinance to lower interest expense.Rayonier Advanced Materials Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
44
Neutral
Cash Flow
33
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.47B | 1.63B | 1.64B | 1.72B | 1.41B |
| Gross Profit | 119.00M | 165.58M | 88.15M | 123.08M | 74.72M |
| EBITDA | 143.00M | 173.69M | 81.32M | 176.94M | 121.82M |
| Net Income | -420.00M | -39.00M | -101.83M | -14.92M | 66.41M |
Balance Sheet | |||||
| Total Assets | 1.76B | 2.13B | 2.18B | 2.35B | 2.45B |
| Cash, Cash Equivalents and Short-Term Investments | 75.00M | 125.22M | 75.77M | 151.80M | 291.82M |
| Total Debt | 779.00M | 729.82M | 777.46M | 853.13M | 928.71M |
| Total Liabilities | 1.43B | 1.41B | 1.44B | 1.52B | 1.63B |
| Stockholders Equity | 316.56M | 713.88M | 746.45M | 829.31M | 814.34M |
Cash Flow | |||||
| Free Cash Flow | -92.00M | 95.67M | 8.60M | -69.41M | 140.01M |
| Operating Cash Flow | 24.00M | 203.61M | 136.27M | 68.81M | 233.22M |
| Investing Cash Flow | -114.00M | -107.94M | -127.28M | -94.17M | 85.39M |
| Financing Cash Flow | 30.00M | -42.48M | -86.95M | -73.11M | -156.66M |
Rayonier Advanced Materials Technical Analysis
Positive
9.37
Price Trends
9.77
Positive
8.33
Positive
7.05
Positive
Market Momentum
-0.05
Positive
51.49
Neutral
59.44
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RYAM, the sentiment is Positive. The current price of 9.37 is below the 20-day moving average (MA) of 10.27, below the 50-day MA of 9.77, and above the 200-day MA of 7.05, indicating a neutral trend. The MACD of -0.05 indicates Positive momentum. The RSI at 51.49 is Neutral, neither overbought nor oversold. The STOCH value of 59.44 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for RYAM.
Rayonier Advanced Materials Risk Analysis
Rayonier Advanced Materials disclosed 30 risk factors in its most recent earnings report. Rayonier Advanced Materials reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Rayonier Advanced Materials Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $1.07B | 13.80 | 8.91% | ― | 21.54% | ― | |
65 Neutral | $662.69M | 9.44 | 6.06% | 3.81% | 0.31% | 11.36% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
53 Neutral | $218.44M | -2.83 | -28.62% | 7.12% | -60.65% | -418.07% | |
51 Neutral | $1.59B | -1.41 | -29.85% | 8.27% | -5.86% | -875.49% | |
46 Neutral | $639.56M | -0.94 | -99.73% | ― | -10.06% | -970.11% | |
40 Neutral | $13.67M | -3,758.94 | -97.45% | ― | -39.51% | -184.03% |
* Basic Materials Sector Average
RYAM
Rayonier Advanced Materials
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108.28%
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Rayonier Advanced Materials Corporate Events
Executive/Board ChangesShareholder Meetings
Rayonier Advanced Materials Announces Board Member Resignation
Negative
Apr 24, 2026
On April 24, 2026, Rayonier Advanced Materials Inc. announced that Scott M. Sutton resigned as a member of its Board of Directors and withdrew as a director nominee for the company’s 2026 Annual Meeting of Stockholders. The departure of Sutt...
Business Operations and StrategyExecutive/Board ChangesM&A Transactions
Rayonier Advanced Materials Begins Strategic Alternatives Review Process
Negative
Apr 21, 2026
On April 16, 2026, Rayonier Advanced Materials President and CEO Scott M. Sutton resigned, prompting the board on April 19 to create an interim Office of the Chief Executive Officer led by four senior executives, with CFO Marcus J. Moeltner design...
Business Operations and Strategy
Rayonier Advanced Materials Withdraws From Altamaha Energy Project
Negative
Jan 26, 2026
On January 26, 2026, Rayonier Advanced Materials Inc. announced that, following a comprehensive review, it has decided not to move forward with its participation in the Altamaha Green Energy project, signaling a strategic pullback from this specif...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.