CluenexRayonier RYN
Rayonier scores weak on business quality (3.5 of 10). Here is why, in plain words, and what our sealed record shows.
Why it matters
- What Rayonier does
Rayonier owns and manages timberlands primarily in the US and New Zealand, generating revenue by harvesting logs and selling real estate. Timber is sold to pulp, paper, and lumber producers.
- What it does best
Rayonier generates high free cash flow conversion relative to its peers, sitting in the top quartile of its sector with a 77% FCF margin. This stems from disciplined capital expenditures of $70M against $313M in operating cash flow.
- The main risk
Interest coverage at 3.2x leaves the company exposed to rate volatility, especially when dividend payments of $298M outpace net income of $76M, creating cash distribution pressures.
Quality, check by check
Scored against its own industry, from company filings.
Operating margins rest at 14.7% with a net margin of 7.9%, reflecting compressed profitability as revenues shrink faster than costs.
The asset base of prime timberlands creates high barriers to entry, though low ROE of 2.0% and a bottom-quartile gross margin of 24% limit the economic advantage.
Revenue plummeted 51% to $968M, marking a severe contraction from prior years as timber demand fades and growth lags significantly in the bottom sector decile.
Debt-to-equity sits at 0.5 with $843M in cash offsetting total debt, yielding positive free cash flow of $243M that currently covers capital needs, keeping the balance sheet manageable.
Insiders
Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.
2 sold $108K outside pre-planned sales.
Our sealed record on RYN
Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.
The first sealed verdicts appear here on Oct 11, 2026.
Questions
Rayonier scores weak on the Cluenex quality check (3.5 of 10), measured against its own industry. Profitability is weak, moat weak, growth slow and financial health fair.
In the last 90 days of SEC Form 4 filings: 2 sold $108K outside pre-planned sales.
Nov 4, 2026.
See RYN today
- Today's verdict on RYN, and why
- Fair value with cautious, base and optimistic cases
- The exact price that would change the verdict
- Which stocks each signal names, the night it fires
Cite this page: Cluenex, “Rayonier (RYN)”, https://cluenex.com/stocks/ryn/, data as of Oct 10, 2026.