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RYN

Rayonier Inc.

RYN

Rayonier Inc. • NYSE
$22.21 ▲ 1.28% (+0.28)
Market Cap $3.42 B
52w High $32.74
52w Low $21.06
Dividend Yield 2.90%
P/E 8.54
Volume 447.40K
Outstanding Shares 153.90M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $177.5M ▲ $16.7M ▼ $43.2M ▼ 24.338% ▼ $0.28 ▼ $78.5M ▲
Q2-2025 $106.538M ▲ $17.087M ▼ $408.708M ▲ 383.626% ▲ $2.63 ▲ $44.495M ▲
Q1-2025 $82.922M ▼ $17.911M ▲ $-3.424M ▼ -4.129% ▼ $-0.038 ▼ $28.92M ▼
Q4-2024 $726.297M ▲ $14.308M ▼ $327.129M ▲ 45.041% ▲ $2.2 ▲ $381.473M ▲
Q3-2024 $194.993M $20.185M $28.758M 14.748% $0.19 $73.984M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $919.582M ▲ $3.492B ▼ $1.167B ▲ $2.279B ▼
Q2-2025 $892.256M ▲ $3.514B ▲ $1.159B ▼ $2.302B ▲
Q1-2025 $216.242M ▼ $3.351B ▼ $1.368B ▼ $1.915B ▲
Q4-2024 $323.158M ▲ $3.474B ▼ $1.642B ▲ $1.769B ▼
Q3-2024 $74.225M $3.479B $1.612B $1.787B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $43.709M ▼ $116.185M ▲ $-15.385M ▼ $-73.474M ▲ $27.326M ▼ $110.686M ▲
Q2-2025 $413.607M ▲ $60.988M ▲ $679.703M ▲ $-82.132M ▲ $659.921M ▲ $43.486M ▲
Q1-2025 $-3.085M ▼ $27.699M ▼ $-21.438M ▼ $-116.477M ▲ $-110.188M ▼ $15.676M ▼
Q4-2024 $333.2M ▲ $87.814M ▲ $428.858M ▲ $-249.434M ▼ $265.954M ▲ $42.084M ▼
Q3-2024 $20.556M $66.151M $-27.4M $-104.848M $-67.681M $51.11M

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
Hardwood
Hardwood
 $0 ▲$0 ▲$0 ▲$0 ▲
Improved Development
Improved Development
 $10.00M ▲$20.00M ▲$0 ▼$10.00M ▲
License Revenue Primarily From Hunting
License Revenue Primarily From Hunting
 $10.00M ▲$10.00M ▲$0 ▼$10.00M ▲
Nontimber
Nontimber
 $30.00M ▲$40.00M ▲$0 ▼$10.00M ▲
Pulpwood
Pulpwood
 $30.00M ▲$70.00M ▲$0 ▼$20.00M ▲
Real Estate Other
Real Estate Other
 $0 ▲$10.00M ▲$0 ▼$0 ▲
Rural
Rural
 $10.00M ▲$50.00M ▲$0 ▼$20.00M ▲
Sawtimber
Sawtimber
 $100.00M ▲$190.00M ▲$0 ▼$40.00M ▲
Timber
Timber
 $140.00M ▲$260.00M ▲$60.00M ▼$70.00M ▲
Total Real Estate
Total Real Estate
 $0 ▲$0 ▲$0 ▲$30.00M ▲
Unimproved Development
Unimproved Development
 $0 ▲$0 ▲$0 ▲$0 ▲
Agency Fee Income
Agency Fee Income
 $0 ▲$0 ▲$0 ▲$0 ▲
Conservation Easement
Conservation Easement
 $0 ▲$0 ▲$0 ▲$0 ▲
NonStrategic Timberland
NonStrategic Timberland
 $20.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Rayonier’s income statement shows a business that has grown its top line over the past five years while steadily improving profitability. Revenue has climbed from the early pandemic period to a recent high, with only one softer year in between, which is typical for a timber and land-focused company exposed to commodity and real estate cycles. Profits have improved faster than sales, suggesting better pricing, mix, and cost control, and the most recent year stands out as particularly strong. The pattern overall is: cyclical, but trending in the right direction with healthier margins and clearly stronger earnings than a few years ago.

Balance Sheet

Balance Sheet The balance sheet looks reasonably solid and gradually de‑risked. Overall asset levels are fairly stable, which fits a land-heavy business, while debt has been worked down from its peak, improving leverage. Equity has edged higher, reflecting the build-up of retained value over time. Cash on hand has increased compared with most prior years, giving the company a better liquidity cushion. The main trade-off is a slightly smaller asset base versus a cleaner, less indebted balance sheet, which generally points to a more resilient financial position.

Cash Flow

Cash Flow Cash generation from day‑to‑day operations has been consistent, without large swings, which is encouraging for a resource business. Free cash flow has been positive in most years, with one notable year of heavy investment when capital spending spiked, temporarily pushing free cash flow negative. That big investment year looks more like a strategic choice than a sign of stress, as free cash recovered after spending normalized. Overall, Rayonier appears to convert earnings into cash reasonably well and has room to fund both investments and shareholder returns, assuming conditions remain similar.

Competitive Edge

Competitive Edge Rayonier’s core advantage is its large, strategically located timberland base in the U.S. South, Pacific Northwest, and New Zealand—assets that are difficult and expensive for new entrants to replicate. The company layers on sustainable forestry certifications, which help with customer trust and access to premium markets, and it has long-standing expertise in shifting land into higher-value uses such as residential or industrial real estate. On top of traditional timber and land sales, Rayonier is building out newer revenue streams such as renewable energy leases, carbon capture, and conservation uses, which can smooth out some of the cyclicality of timber prices. Key risks to this position include exposure to housing and lumber cycles, interest rate sensitivity as a REIT, and execution and integration risk around its planned merger with PotlatchDeltic.

Innovation and R&D

Innovation and R&D Innovation at Rayonier is less about labs and patents and more about finding new, higher-value ways to use its land. The company is pushing into “land-based solutions” like solar and wind leases, underground carbon storage, and participation in carbon markets, which connects its timber base to the broader energy transition and climate agenda. It also uses digital tools such as GIS mapping and invests in tree genetics and silviculture to improve growth rates and forest resilience, which can lift long-term yields. Experiments around carbon offset projects, and longer-term interest in bioenergy and sustainable aviation fuel, show a willingness to test emerging opportunities even if they are still early-stage and uncertain. This innovative mindset, if executed well, could gradually shift Rayonier from a purely cyclical timber REIT toward a more diversified environmental assets platform.

Summary

Rayonier today looks like a timber and land company that is steadily improving its finances while reinventing its business model. The income statement shows better profitability over time, the balance sheet has become less leveraged and more liquid, and cash flows are generally steady with one clear investment-heavy year. Strategically, the company is leaning into its unique land base to open new lines of business in renewable energy, carbon storage, and environmental services, while still benefiting from traditional timber and real estate value uplift. The main opportunities lie in successfully scaling these land-based solutions and capturing value from the planned merger with PotlatchDeltic; the main uncertainties are execution risk, integration complexity, and ongoing exposure to timber, real estate, and policy cycles. Overall, Rayonier appears financially healthier than a few years ago and is in the midst of a significant strategic transition that could meaningfully reshape its long-term profile.

NEWS

November 5, 2025 · 4:12 PM UTC

Rayonier Reports Third Quarter 2025 Results

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October 17, 2025 · 3:17 PM UTC

PotlatchDeltic Investor Alert By The Former Attorney General Of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of PotlatchDeltic Corporation - PCH

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October 16, 2025 · 4:12 PM UTC

Rayonier Announces Fourth Quarter 2025 Dividend

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October 15, 2025 · 4:12 PM UTC

Rayonier Scheduled to Release Third Quarter Earnings on November 5

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October 15, 2025 · 7:30 AM UTC

SHAREHOLDER RIGHTS ALERT: Halper Sadeh LLC Investigates ATXS and RYN on Behalf of Shareholders

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