Rayonier Inc

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RYN : NYSE : Industrial Goods
$27.53 up 0.08 | 0.29%
Today's Range: 27.24 - 27.64
Avg. Daily Volume: 346,200
08/31/16 - 4:02 PM ET

Financial Analysis


RAYONIER INC's gross profit margin for the second quarter of its fiscal year 2016 has significantly increased when compared to the same period a year ago. The company grew its sales and net income significantly quarter versus same quarter a year prior, and was able to outpace the average competitor in the industry when comparing revenue growth, but not when comparing net income growth. RAYONIER INC is extremely liquid. Currently, the Quick Ratio is 2.36 which clearly shows the ability to cover any short-term cash needs. The company's liquidity has increased from the same period last year, indicating improving cash flow.

During the same period, stockholders' equity ("net worth") has remained virtually unchanged only decreasing by 4.79% from the same quarter last year. Overall, the key liquidity measurements indicate that the company is very unlikely to face financial difficulties in the near future.

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Income Statement Q2 FY16 Q2 FY15
Net Sales ($mil)261.55115.8
EBITDA ($mil)134.4723.23
EBIT ($mil)112.1-0.62
Net Income ($mil)109.82-1.54


Balance Sheet Q2 FY16 Q2 FY15
Cash & Equiv. ($mil)129.6591.63
Total Assets ($mil)2632.182366.32
Total Debt ($mil)1052.31752.35
Equity ($mil)1336.771404.11


Profitability Q2 FY16 Q2 FY15
Gross Profit Margin55.7131.05
EBITDA Margin51.4120.06
Operating Margin42.86-0.53
Sales Turnover0.260.23
Return on Assets5.862.44
Return on Equity11.534.09
Debt Q2 FY16 Q2 FY15
Current Ratio2.871.3
Debt/Capital0.440.35
Interest Expense7.968.48
Interest Coverage14.08-0.07


Share Data Q2 FY16 Q2 FY15
Shares outstanding (mil)122.87126.49
Div / share0.250.25
EPS0.89-0.01
Book value / share10.8811.1
Institutional Own % n/a n/a
Avg Daily Volume352932.0495518.0

Valuation


BUY. The current P/E ratio indicates a significant discount compared to an average of 60.55 for the Real Estate Investment Trusts (REITs) industry and a discount compared to the S&P 500 average of 25.13. To use another comparison, its price-to-book ratio of 2.52 indicates valuation on par with the S&P 500 average of 2.82 and a discount versus the industry average of 3.83. The price-to-sales ratio is well above the S&P 500 average, but well below the industry average. Upon assessment of these and other key valuation criteria, RAYONIER INC proves to trade at a discount to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
RYN 21.93 Peers 60.55   RYN 19.71 Peers 21.63

Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations.

RYN is trading at a significant discount to its peers.

 

Average. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

RYN is trading at a valuation on par to its peers.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
RYN 58.95 Peers 60.43   RYN 3.25 Peers 3.65

Premium. A higher price-to-projected earnings ratio than its peers can signify a more expensive stock or higher future growth expectations.

RYN is trading at a premium to its peers.

 

Discount. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

RYN trades at a discount to its peers.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
RYN 2.52 Peers 3.83   RYN 177.77 Peers 8.94

Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

RYN is trading at a significant discount to its peers.

 

Higher. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

RYN is expected to have an earnings growth rate that significantly exceeds its peers.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
RYN 4.92 Peers 8.42   RYN 23.83 Peers 14.96

Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

RYN is trading at a significant discount to its industry on this measurement.

 

Higher. A sales growth rate that exceeds the industry implies that a company is gaining market share.

RYN has a sales growth rate that significantly exceeds its peers.

 

 

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