Rayonier Inc

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RYN : NYSE : Industrial Goods
$28.58 up 0.11 | 0.39%
Today's Range: 28.42 - 28.74
Avg. Daily Volume: 383200.0
09/19/17 - 1:20 PM ET

Financial Analysis


RAYONIER INC's gross profit margin for the second quarter of its fiscal year 2017 has decreased when compared to the same period a year ago. Sales and net income fell significantly, underperforming compared to the average company in its industry. RAYONIER INC has average liquidity. Currently, the Quick Ratio is 1.34 which shows that technically this company has the ability to cover short-term cash needs. The company's liquidity has decreased from the same period last year.

During the same period, stockholders' equity ("net worth") has increased by 17.57% from the same quarter last year. Together, the key liquidity measurements indicate that it is relatively unlikely that the company will face financial difficulties in the near future.

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Income Statement Q2 FY17 Q2 FY16
Net Sales ($mil)194.72261.55
EBITDA ($mil)77.91134.47
EBIT ($mil)40.79112.1
Net Income ($mil)26.16109.82


Balance Sheet Q2 FY17 Q2 FY16
Cash & Equiv. ($mil)136.56129.65
Total Assets ($mil)2952.792632.18
Total Debt ($mil)1065.151052.31
Equity ($mil)1571.721336.77


Profitability Q2 FY17 Q2 FY16
Gross Profit Margin45.2755.71
EBITDA Margin40.0151.41
Operating Margin20.9542.86
Sales Turnover0.260.26
Return on Assets5.05.86
Return on Equity9.3911.53
Debt Q2 FY17 Q2 FY16
Current Ratio1.62.87
Debt/Capital0.40.44
Interest Expense8.637.96
Interest Coverage4.7314.08


Share Data Q2 FY17 Q2 FY16
Shares outstanding (mil)128.9122.87
Div / share0.250.25
EPS0.20.89
Book value / share12.1910.88
Institutional Own % n/a n/a
Avg Daily Volume403937.0810938.0

Valuation


BUY. The current P/E ratio indicates a significant discount compared to an average of 60.91 for the Equity Real Estate Investment Trusts REITs industry and a value on par with the S&P 500 average of 24.88. To use another comparison, its price-to-book ratio of 2.31 indicates a discount versus the S&P 500 average of 3.10 and a significant discount versus the industry average of 3.91. 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 23.88 Peers 60.91   RYN 13.90 Peers 19.13

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 significant discount 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 56.36 Peers 54.38   RYN NM Peers 3.77

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.

 

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.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
RYN 2.31 Peers 3.91   RYN -5.60 Peers 75.66

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.

 

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

However, RYN is expected to significantly trail its peers on the basis of its earnings growth rate.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
RYN 4.70 Peers 8.31   RYN 12.83 Peers 12.34

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.

 

Average. Comparing a company's sales growth to its industry helps to determine if the company is adding or losing market share.

RYN is keeping pace with its peers on the basis of sales growth.

 

 

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