Rayonier Inc. REIT
Find Ratings ReportsRAYONIER INC's gross profit margin for the fourth quarter of its fiscal year 2023 has increased when compared to the same period a year ago. The company has grown sales and net income significantly, outpacing the average growth rates of competitors within its subsector. RAYONIER INC has strong liquidity. Currently, the Quick Ratio is 1.77 which shows the ability to cover short-term cash needs. The company managed to increase its liquidity from the same period a year ago, despite already having strong liquidity to begin with. This would indicate improved cash flow.
During the same period, stockholders' equity ("net worth") has remained unchanged from the same quarter last year. The key liquidity measurements indicate that the company is unlikely to face financial difficulties in the near future.
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Income Statement | Q4 FY23 | Q4 FY22 |
---|---|---|
Net Sales ($mil) | 467.41 | 245.4 |
EBITDA ($mil) | 191.89 | 81.55 |
EBIT ($mil) | 147.94 | 48.43 |
Net Income ($mil) | 126.93 | 33.08 |
Balance Sheet | Q4 FY23 | Q4 FY22 |
---|---|---|
Cash & Equiv. ($mil) | 207.7 | 114.26 |
Total Assets ($mil) | 3647.59 | 3789.37 |
Total Debt ($mil) | 1461.55 | 1611.87 |
Equity ($mil) | 1860.54 | 1865.4 |
Profitability | Q4 FY23 | Q4 FY22 |
---|---|---|
Gross Profit Margin | 45.35 | 39.61 |
EBITDA Margin | 41.05 | 33.22 |
Operating Margin | 31.65 | 19.73 |
Sales Turnover | 0.29 | 0.24 |
Return on Assets | 4.75 | 2.82 |
Return on Equity | 9.32 | 5.74 |
Debt | Q4 FY23 | Q4 FY22 |
---|---|---|
Current Ratio | 2.26 | 2.12 |
Debt/Capital | 0.44 | 0.46 |
Interest Expense | 11.59 | 9.73 |
Interest Coverage | 12.77 | 4.98 |
Share Data | Q4 FY23 | Q4 FY22 |
---|---|---|
Shares outstanding (mil) | 148.3 | 147.28 |
Div / share | 0.49 | 0.29 |
EPS | 0.85 | 0.22 |
Book value / share | 12.55 | 12.67 |
Institutional Own % | n/a | n/a |
Avg Daily Volume | 670697.0 | 539059.0 |
BUY. The current P/E ratio indicates a significant discount compared to an average of 49.19 for the Real Estate subsector and a value on par with the S&P 500 average of 27.95. For additional comparison, its price-to-book ratio of 2.66 indicates a significant discount versus the S&P 500 average of 4.68 and a significant discount versus the subsector average of 6.43. The price-to-sales ratio is well above the S&P 500 average, but well below the subsector average. Upon assessment of these and other key valuation criteria, RAYONIER INC proves to trade at a discount to investment alternatives.
Price/Earnings |
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Price/Cash Flow |
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RYN 28.50 | Peers 49.19 | RYN 16.58 | Peers 18.58 | |||||||||||||||||||||
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. |
Discount. 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 discount to its peers. |
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Price/Projected Earnings |
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Price to Earnings/Growth |
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RYN 49.41 | Peers 40.04 | RYN NM | Peers 5.86 | |||||||||||||||||||||
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 significant premium to its peers. |
Neutral. 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's negative PEG ratio makes this valuation measure meaningless. |
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Price/Book |
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Earnings Growth |
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RYN 2.66 | Peers 6.43 | RYN 62.50 | Peers -7.55 | |||||||||||||||||||||
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. |
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Price/Sales |
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Sales Growth |
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RYN 4.68 | Peers 7.79 | RYN 16.26 | Peers 11.68 | |||||||||||||||||||||
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 subsector on this measurement. |
Higher. A sales growth rate that exceeds the subsector implies that a company is gaining market share. RYN has a sales growth rate that significantly exceeds its peers. |
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