Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $816M | $820M | $816M | $712M | $859M | $1.11B | $908M | $787M | $986M | $483M |
| Revenue growth | — | 0.5% | -0.4% | -12.8% | 20.7% | 29.1% | -18.1% | -13.3% | 25.3% | -51.0% |
| Operating income | $256M | $215M | $170M | $107M | $74.4M | $270M | $166M | $185M | $364M | $83.3M |
| Operating margin | 31.3% | 26.3% | 20.8% | 15.0% | 8.7% | 24.3% | 18.3% | 23.5% | 36.9% | 17.3% |
| Net income | $212M | $149M | $102M | $59.1M | $37.1M | $153M | $107M | $173M | $359M | $474M |
| Net margin | 26.0% | 18.2% | 12.5% | 8.3% | 4.3% | 13.8% | 11.8% | 22.0% | 36.4% | 98.2% |
| EPS (diluted) | $1.73 | $1.16 | $0.79 | $0.46 | $0.27 | $1.08 | $0.73 | $1.17 | $2.39 | $3.03 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $204M | $256M | $310M | $214M | $204M | $325M | $269M | $298M | $262M | $257M |
| Capital expenditures | $58.7M | $308M | $120M | $206M | $91.2M | $255M | $533M | $95.5M | $103M | — |
| Free cash flow | $145M | -$52.0M | $190M | $7.97M | $113M | $70.0M | -$264M | $203M | $159M | — |
| Share buybacks | $690K | $176K | $2.98M | $4.25M | $1.60M | $1.62M | $4.22M | $4.22M | $4.18M | $2.90M |
| Dividends paid | $123M | $127M | $137M | $141M | $146M | $154M | $166M | $170M | $201M | $292M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $85.9M | $113M | $148M | $68.7M | $84.5M | $362M | $114M | $208M | $303M | $843M |
| Total assets | $2.69B | $2.86B | $2.78B | $2.86B | $3.73B | $3.64B | $3.79B | $3.65B | $3.47B | $3.40B |
| Long-term debt | $1.03B | $1.02B | $973M | $973M | $1.36B | $1.24B | $1.51B | $1.37B | $1.04B | $845M |
| Shareholders' equity | $1.41B | $1.59B | $1.56B | $1.44B | $1.47B | $1.77B | $1.87B | $1.86B | $1.77B | $2.21B |
| Retained earnings | $701M | $707M | $672M | $583M | $446M | $402M | $367M | $338M | $257M | $281M |
| Shares (wtd avg diluted) | 123M | 128M | 130M | 130M | 137M | 145M | 150M | 151M | 152M | 159M |
Every figure is extracted from RAYONIER INC’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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