Rayonier (RYN) FY2017 results: revenue $820 million, up 0.5% on the year
Rayonier Inc. (RYN) reported revenue of $820 million for fiscal 2017, the year ended 31 December 2017, up 0.5% on the year before. Net income was $149 million, down 29.8%, and diluted earnings per share $1.16. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2019.
Revenue
$820 million
+0.5% on the year
FY2010FY2017
Operating margin
26.3%
31.3% a year earlier
FY2010FY2017
Net income
$149 million
-29.8% on the year
FY2010FY2017
Diluted EPS
$1.16
-32.9% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
820
816
569
+0.5%
Cost of revenue
568
526
441
+7.9%
Gross profit
251
289
128
-13.2%
Gross margin
30.7%
35.5%
22.5%
Selling, general and administrative
40.2
42.8
45.8
-5.9%
Operating income
215
256
77.8
-15.8%
Operating margin
26.3%
31.3%
13.7%
Interest expense
34.1
32.2
31.7
+5.7%
Pre-tax income
183
223
43.1
-17.8%
Income tax
21.7
5.1
-0.9
+328.1%
Effective tax rate
11.8%
2.3%
-2.0%
Net income
149
212
46.2
-29.8%
Net margin
18.2%
26.0%
8.1%
Diluted EPS
$1.16
$1.73
$0.37
-32.9%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
256
204
177
+25.8%
Capital expenditure
15.8
8.7
2.7
+80.5%
Free cash flow
240
195
174
+23.3%
Free cash flow margin
29.3%
23.9%
30.7%
Cash from investing
-235
-235
-166
Cash from financing
-6.9
114
-116
Depreciation and amortisation
146
151
114
-3.4%
Share-based compensation
5.4
5.1
4.5
+5.1%
Buybacks
0.2
0.7
100
-74.5%
Dividends paid
127
123
125
+3.4%
Dividend per share
$1.00
$1.00
$1.00
0.0%
Diluted shares, weighted
128m
123m
126m
+4.1%
Shares outstanding at period end
129m
123m
123m
+4.9%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
1,593
1,412
1,288
+12.9%
Non-controlling interest
99.9
85.1
73.7
+17.4%
Debt
1,025
1,065
834
-3.8%
Other liabilities
140
124
124
+13.5%
Total liabilities and equity
2,858
2,686
2,319
+6.4%
Fixed assets
23.4
14.0
6.7
+66.6%
Goodwill
8.8
8.7
8.5
+1.1%
Cash and equivalents
113
85.9
51.8
+31.1%
Receivables
27.7
20.7
20.2
+34.0%
Inventory
24.1
21.4
15.4
+12.9%
Other assets
2,662
2,535
2,217
+5.0%
Total assets
2,858
2,686
2,319
+6.4%
10-K for the year ended 31 December 2017, filed 22 February 2019: the filing.