Rayonier Advanced Materials (RYAM)
NYSE:RYAM
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Rayonier Advanced Materials
(NYSE:RYAM)
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Rating:48Neutral
Price Target:
$9.00
▼(-3.95% Downside)
Action:Reiterated
Date:05/15/26
The score is held down primarily by weak financial performance (large losses, negative free cash flow, and high leverage). Earnings-call indicators provide some offset via Q1 positive adjusted free cash flow and pricing/volume improvement potential, while technicals are mixed-to-soft and valuation is constrained by loss-making results.
Positive Factors
Pricing power in specialty cellulose
Sustained, material price increases across the specialty cellulose portfolio signal structural pricing power. With industry utilization above 90% and the majority of 2026 CS volume secured at higher rates, the company can protect margins and cash flow versus cyclical raw-material or volume swings over the next several quarters.
Negative Factors
High leverage and weakened balance sheet
A heavily leveraged capital structure materially limits financial flexibility and raises refinancing risk. With debt well above equity, the company faces higher interest and covenant exposure, reducing capacity to absorb operational shocks or fund strategic investments without asset sales or capital actions.
Read all positive and negative factors
Positive Factors
Negative Factors
Pricing power in specialty cellulose
Sustained, material price increases across the specialty cellulose portfolio signal structural pricing power. With industry utilization above 90% and the majority of 2026 CS volume secured at higher rates, the company can protect margins and cash flow versus cyclical raw-material or volume swings over the next several quarters.
Read all positive factors
Rayonier Advanced Materials (RYAM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$572.55M
Dividend YieldN/A
Average Volume (3M)527.04K
Price to Earnings (P/E)―
Beta (1Y)1.35
Revenue Growth-10.59%
EPS Growth-571.99%
CountryUS
Employees2,350
SectorBasic Materials
Sector Strength58
IndustryChemicals
Share Statistics
EPS (TTM)-7.03
Shares Outstanding67,438,545
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 Cap2.23
Enterprise Value/Revenue0.89
Enterprise Value/Gross Profit14.65
Enterprise Value/Ebitda7.43
Forecast
1Y Price Target
$14.00Price Target Upside49.41% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.99
Revenue Forecast (FY)$1.45B
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:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 11, 2026
Earnings Call Sentiment Neutral
The call was mixed. There are meaningful positive developments: a 17% YoY increase in average CS sales price, $24M adjusted EBITDA in High Purity Cellulose, $12M of adjusted free cash flow in Q1, and clear commercialization targets in the product pipeline that support a path to improved mix and earnings. At the same time, consolidated adjusted EBITDA was low ($8M), certain segments (paperboard and high-yield pulp) were loss-making, CS volumes remain pressured by inventories and market softness in some end markets, logistics and input-cost inflation persist, and the company faces balance sheet and leadership-transition uncertainty. Management emphasized disciplined execution and a transition-year outlook that requires sequential improvement to meet full-year objectives.Positive Updates
Material CS price improvement
Average cellulose specialty (CS) sales price increased 17% year-over-year in Q1 2026; company reports it has secured the majority of 2026 CS volume at pricing meaningfully higher than 2025 and notes industry utilization above 90% (Hawkins Wright), supporting disciplined pricing.
Negative Updates
Low consolidated profitability and 'transition' year
Adjusted EBITDA for the quarter was only $8 million (near-zero relative to full-year objectives); management characterizes 2026 as a transition year that still requires sequential improvement to reach targets.
Read all updates
Q1-2026 Updates
Positive
Negative
Material CS price improvement
Average cellulose specialty (CS) sales price increased 17% year-over-year in Q1 2026; company reports it has secured the majority of 2026 CS volume at pricing meaningfully higher than 2025 and notes industry utilization above 90% (Hawkins Wright), supporting disciplined pricing.
Read all positive updates
Company Guidance
The company reiterated that 2026 is a transition year with four priorities—deliver positive free cash flow, assert CS leadership, drive year‑over‑year EBITDA improvement, and exit 2026 with momentum—and said Q1 was broadly in line to slightly ahead of a near‑zero EBITDA outlook: Q1 adjusted EBITDA was $8 million (High Purity Cellulose $24M; Paperboard & High Yield Pulp -$5M; Corporate & other $11M), adjusted free cash flow was $12M, total liquidity was $160M (cash $68M, ABL $88M, factoring $4M), and an isolated fire had a minor ~$5M impact; average CS sales price rose 17% year‑over‑year, Q1 CS shipments were just over 70k tons with potential sequential increases of 15–20% into Q2, the company is targeting ~10k MT each for freezer board and oil‑and‑grease‑resistant board and ~20k MT for softwood high‑yield pulp rolls in 2026, and management expects fluff pricing momentum (with ~+$55 announced in China and ~$+120 in North America/Europe reported) and commodity pricing to increase sequentially through 2026 while inventory conditions normalize into 2027.Rayonier Advanced Materials Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
22
Negative
Cash Flow
31
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.43B | 1.47B | 1.63B | 1.64B | 1.72B | 1.41B |
| Gross Profit | 87.12M | 118.78M | 165.58M | 88.15M | 123.08M | 74.72M |
| EBITDA | 171.70M | 164.88M | 173.69M | 81.32M | 176.94M | 121.82M |
| Net Income | -470.70M | -420.67M | -39.00M | -101.83M | -14.92M | 66.41M |
Balance Sheet | ||||||
| Total Assets | 1.67B | 1.76B | 2.13B | 2.18B | 2.35B | 2.45B |
| Cash, Cash Equivalents and Short-Term Investments | 67.94M | 75.00M | 125.22M | 75.77M | 151.80M | 291.82M |
| Total Debt | 763.41M | 779.00M | 729.82M | 777.46M | 853.13M | 928.71M |
| Total Liabilities | 1.43B | 1.43B | 1.41B | 1.44B | 1.52B | 1.63B |
| Stockholders Equity | 229.35M | 316.56M | 713.88M | 746.45M | 829.31M | 814.34M |
Cash Flow | ||||||
| Free Cash Flow | -84.17M | -92.00M | 95.67M | 8.60M | -69.41M | 140.01M |
| Operating Cash Flow | 16.32M | 24.00M | 203.61M | 136.27M | 68.81M | 233.22M |
| Investing Cash Flow | -96.49M | -114.00M | -107.94M | -127.28M | -94.17M | 85.39M |
| Financing Cash Flow | 12.44M | 30.00M | -42.48M | -86.95M | -73.11M | -156.66M |
Rayonier Advanced Materials Technical Analysis
Negative
9.37
Price Trends
9.92
Negative
9.09
Negative
7.67
Positive
Market Momentum
-0.28
Positive
40.42
Neutral
14.29
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RYAM, the sentiment is Negative. The current price of 9.37 is above the 20-day moving average (MA) of 9.25, below the 50-day MA of 9.92, and above the 200-day MA of 7.67, indicating a neutral trend. The MACD of -0.28 indicates Positive momentum. The RSI at 40.42 is Neutral, neither overbought nor oversold. The STOCH value of 14.29 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
66 Neutral | $960.16M | 13.80 | 8.91% | ― | 21.54% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
55 Neutral | $577.46M | -10.59 | 1.28% | 3.81% | -0.63% | -87.72% | |
48 Neutral | $572.55M | -2.20 | -153.52% | ― | -10.59% | -571.99% | |
47 Neutral | $175.89M | ― | -32.51% | 7.12% | -45.63% | -707.66% | |
47 Neutral | $1.27B | -3.77 | -31.25% | 8.27% | -4.02% | -206.93% | |
40 Underperform | $7.87M | -0.17 | -120.66% | ― | -53.26% | -138.52% |
* Basic Materials Sector Average
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Rayonier Advanced Materials Corporate Events
Executive/Board Changes
Rayonier Advanced Materials Names Julie Dill Board Chair
Positive
May 14, 2026
On May 13, 2026, Rayonier Advanced Materials’ board appointed existing director Julie A. Dill as Chair of the Board, effective May 14, 2026, with the company announcing her election as Non-Executive Chair on May 14. She replaces Lisa M. Palu...
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...
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.