Rayonier (RYN) AI Stock Analysis

• Market Cap: $3.45B
• Dividend Yield: 11.89%
• Average Volume (3M): 1.36M
• Price to Earnings (P/E): 9.2
• Beta (1Y): 0.48
• Revenue Growth: 8.88%
• EPS Growth: 131.79%
• Country: US
• Employees: 424
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Specialty
• EPS (TTM): 0.32
• Shares Outstanding: 153,902,020
• 10 Day Avg. Volume: 1,772,127
• 30 Day Avg. Volume: 1,359,218
• PEG Ratio: 0.11
• Price to Book (P/B): 2.20
• Price to Sales (P/S): 3.08
• P/FCF Ratio: 24.42
• Enterprise Value/Market Cap: 1.26
• Enterprise Value/Revenue: 3.97
• Enterprise Value/Gross Profit: 9.26
• Enterprise Value/Ebitda: 8.73
• 1Y Price Target: $27.33
• Price Target Upside: 18.67% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): 0.38
• Revenue Forecast (FY): $470.19M

• Rating: 70 Outperform
• Price Target: $24.50 ▲(6.38% Upside)

Rayonier's overall stock score is driven by strong valuation metrics and strategic initiatives like the merger with PotlatchDeltic. However, technical indicators suggest bearish momentum, and financial performance is mixed with strong profitability but declining revenue and cash flow growth.

Positive Factors

Merger with PotlatchDeltic

The merger with PotlatchDeltic is expected to create a premier land resources company, enhancing market position and operational scale, which could drive long-term growth and shareholder value.

Real Estate Segment Performance

Strong performance in the Real Estate segment indicates robust demand and effective transaction execution, supporting revenue growth and profitability in a key business area.

Credit Rating Upgrade

An improved credit rating reflects enhanced financial stability and lower borrowing costs, which can support strategic investments and shareholder returns over time.

Negative Factors

Southern Timber Segment Challenges

Declining performance in the Southern Timber segment due to lower harvest volumes and prices may impact overall profitability and require strategic adjustments.

Decline in Free Cash Flow

A substantial drop in free cash flow growth limits financial flexibility and may constrain future investments or shareholder distributions, posing a risk to long-term financial health.

Continued Timber Market Uncertainty

Ongoing market uncertainties, such as international trade restrictions, can affect timber demand and pricing, challenging revenue stability and growth in the Timber segment.

Rayonier Business Overview & Revenue Model

Company Description

Rayonier 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.

How the Company Makes Money

Rayonier generates revenue primarily through two key streams: Timber and Real Estate. In the Timber segment, the company earns money by selling standing timber and through the sale of logs to sawmills and other wood product manufacturers. The revenue in this segment is influenced by timber prices, harvest volumes, and management of its timberland assets. In the Real Estate segment, Rayonier generates income from land sales, leases, and development activities. This includes selling parcels of land for residential and commercial development, which can be lucrative in growing markets. Additionally, the company may engage in joint ventures or partnerships with developers and other entities, further enhancing its revenue potential. Overall, Rayonier's business model focuses on maximizing the value of its land and timber assets while adhering to sustainable practices.

Rayonier Financial Statement Overview

Summary

Rayonier demonstrates strong profitability with high net profit and EBIT margins, and a stable balance sheet with manageable leverage. However, the decline in revenue growth and significant drop in free cash flow growth are potential risks.

Income Statement

Rayonier's income statement shows strong profitability with a high net profit margin of 68.53% for TTM, indicating efficient cost management. However, the revenue growth rate has declined by 1.58% in the TTM period, which is a concern. The gross profit margin of 41.22% and EBIT margin of 36.16% are robust, reflecting solid operational performance.

Balance Sheet

The balance sheet is stable with a moderate debt-to-equity ratio of 0.46, indicating manageable leverage. The return on equity is impressive at 39.17%, showcasing effective use of equity capital. However, the equity ratio is not available, which limits a comprehensive assessment of asset financing.

Cash Flow

Cash flow analysis reveals a significant decline in free cash flow growth by 87.30% in the TTM period, which is concerning. The operating cash flow to net income ratio of 0.88 suggests adequate cash generation relative to net income. The free cash flow to net income ratio of 0.36 indicates some cash flow challenges.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.09B	1.26B	1.06B	909.07M	1.11B	859.15M
Gross Profit	468.52M	478.16M	294.36M	220.79M	313.48M	146.72M
EBITDA	496.59M	553.20M	390.19M	315.73M	425.78M	240.56M
Net Income	775.61M	359.15M	173.49M	107.08M	152.55M	37.08M
Balance Sheet
Total Assets	1.09B	3.47B	3.65B	3.79B	3.64B	3.73B
Cash, Cash Equivalents and Short-Term Investments	919.60M	323.16M	207.70M	114.25M	362.17M	84.51M
Total Debt	860.70M	1.19B	1.45B	1.60B	1.46B	1.46B
Total Liabilities	-1.19B	1.64B	1.69B	1.80B	1.69B	1.74B
Stockholders Equity	2.28B	1.77B	1.86B	1.87B	1.77B	1.47B
Cash Flow
Free Cash Flow	19.64M	159.06M	202.87M	-264.10M	70.00M	113.00M
Operating Cash Flow	87.80M	261.59M	298.38M	269.20M	325.10M	204.20M
Investing Cash Flow	428.86M	354.01M	124.09M	-516.40M	-26.30M	-213.60M
Financing Cash Flow	-249.43M	-479.36M	-328.87M	-4.60M	-16.30M	27.00M

Rayonier Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 23.03
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RYN, the sentiment is Neutral. The current price of 23.03 is above the 20-day moving average (MA) of 22.89, below the 50-day MA of 23.95, and below the 200-day MA of 23.30, indicating a neutral trend. The MACD of -0.49 indicates Negative momentum. The RSI at 48.41 is Neutral, neither overbought nor oversold. The STOCH value of 57.06 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for RYN.

Rayonier Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
RYN	70 Outperform	$3.45B	9.24	―	11.89%	8.88%	131.79%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
PCH	61 Neutral	$3.13B	49.43	3.25%	4.35%	5.40%	294.38%
WY	59 Neutral	$16.64B	50.56	3.42%	3.60%	-1.64%	-37.58%

Rayonier Corporate Events

Rayonier Announces Merger with PotlatchDeltic

On October 13, 2025, Rayonier Inc. and PotlatchDeltic Corporation announced an all-stock merger of equals, creating a leading land resources REIT with a diversified timberland portfolio of approximately 4.2 million acres. The merger, unanimously approved by both companies’ boards, is expected to close in late first quarter or early second quarter of 2026, with the combined company operating under a new name. The merger aims to leverage complementary assets and expertise, offering strategic and financial opportunities, including $40 million in annual synergies. The combined company will be the second-largest publicly traded timber and wood products company in North America, enhancing its position in the housing market and land-based natural climate solutions.

The most recent analyst rating on (RYN) stock is a Buy with a $28.00 price target. To see the full list of analyst forecasts on Rayonier stock, see the RYN Stock Forecast page.

Rayonier Amends Credit Agreement for Financial Flexibility

On August 15, 2025, Rayonier Inc. and its subsidiaries entered into an Amended and Restated Credit Agreement with several banks and financial institutions, extending the maturity date for their Revolving Credit Facility to August 15, 2030. The agreement, which maintains the existing maturity dates for other term loan facilities, allows for potential increases in commitments and includes financial covenants related to leverage and interest coverage, providing Rayonier with enhanced financial flexibility.

The most recent analyst rating on (RYN) stock is a Buy with a $29.00 price target. To see the full list of analyst forecasts on Rayonier stock, see the RYN Stock Forecast page.

Rayonier Inc. Earnings Call Highlights Growth and Challenges

Rayonier Inc. recently held its earnings call, which was marked by an overall positive sentiment. The company celebrated several significant achievements, including the successful sale of its New Zealand business, improved financial performance, and an upgraded credit rating. Despite facing challenges in its Southern Timber segment due to salvage volume impacts and lower pulpwood pricing, Rayonier’s strong positioning suggests promising prospects for future growth.

Rayonier Inc. Reports Strong Q2 2025 Results

Rayonier Inc. is a timberland real estate investment trust that manages approximately 2.0 million acres of timberlands in the U.S. South and Pacific Northwest, specializing in softwood timber production and real estate development.