Rayonier (RYN) FY2016 results: revenue $816 million, up 43.4% on the year
Rayonier Inc. (RYN) reported revenue of $816 million for fiscal 2016, the year ended 31 December 2016, up 43.4% on the year before. Net income was $212 million, up 359.2%, and diluted earnings per share $1.73. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2019.
Revenue
$816 million
+43.4% on the year
FY2009FY2016
Operating margin
31.3%
13.7% a year earlier
FY2009FY2016
Net income
$212 million
+359.2% on the year
FY2009FY2016
Diluted EPS
$1.73
+367.6% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
816
569
604
+43.4%
Cost of revenue
526
441
484
+19.3%
Gross profit
289
128
120
+126.7%
Gross margin
35.5%
22.5%
19.8%
Selling, general and administrative
42.8
45.8
47.9
-6.5%
Operating income
256
77.8
98.3
+228.8%
Operating margin
31.3%
13.7%
16.3%
Interest expense
32.2
31.7
44.2
+1.7%
Pre-tax income
223
43.1
44.8
+417.2%
Income tax
5.1
-0.9
-9.6
Effective tax rate
2.3%
-2.0%
-21.4%
Net income
212
46.2
99.3
+359.2%
Net margin
26.0%
8.1%
16.5%
Diluted EPS
$1.73
$0.37
$0.76
+367.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
204
177
320
+15.0%
Capital expenditure
8.7
2.7
3.7
+226.8%
Free cash flow
195
174
317
+11.8%
Free cash flow margin
23.9%
30.7%
52.5%
Cash from investing
-235
-166
-197
Cash from financing
114
-116
-161
Depreciation and amortisation
151
114
120
+32.9%
Share-based compensation
5.1
4.5
7.9
+14.5%
Buybacks
0.7
100
1.9
-99.3%
Dividends paid
123
125
258
-1.7%
Dividend per share
$1.00
$1.00
$2.03
0.0%
Diluted shares, weighted
123m
126m
131m
-2.5%
Shares outstanding at period end
123m
123m
127m
+0.1%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
1,412
1,288
1,488
+9.6%
Non-controlling interest
85.1
73.7
86.7
+15.6%
Debt
1,065
834
752
+27.8%
Other liabilities
124
124
126
-0.1%
Total liabilities and equity
2,686
2,319
2,453
+15.8%
Fixed assets
14.0
6.7
6.7
+108.2%
Goodwill
8.7
8.5
9.7
+2.4%
Cash and equivalents
85.9
51.8
162
+65.9%
Receivables
20.7
20.2
24.0
+2.2%
Inventory
21.4
15.4
8.4
+39.3%
Other assets
2,535
2,217
2,243
+14.4%
Total assets
2,686
2,319
2,453
+15.8%
10-K for the year ended 31 December 2016, filed 22 February 2019: the filing.