Rayonier (RYN) FY2023 results: revenue $788 million, up 36.6% on the year
Rayonier Inc. (RYN) reported revenue of $788 million for fiscal 2023, the year ended 31 December 2023, up 36.6% on the year before. Net income was $173 million, up 62.0%, and diluted earnings per share $1.17. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2024.
Revenue
$788 million
+36.6% on the year
FY2016FY2023
Operating margin
23.4%
23.5% a year earlier
FY2016FY2023
Net income
$173 million
+62.0% on the year
FY2016FY2023
Diluted EPS
$1.17
+60.3% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
298
269
325
+10.8%
Capital expenditure
23.1
13.7
12.5
+68.5%
Free cash flow
275
255
313
+7.8%
Free cash flow margin
34.9%
44.3%
28.2%
Cash from investing
124
-516
-26.3
Cash from financing
-329
-4.6
-16.3
Depreciation and amortisation
137
123
249
+10.6%
Share-based compensation
14.0
12.4
9.3
+13.3%
Buybacks
4.2
4.2
1.6
-0.2%
Dividends paid
170
166
154
+2.6%
Dividend per share
$1.34
$1.12
$1.08
+19.1%
Diluted shares, weighted
151m
150m
145m
+0.6%
Shares outstanding at period end
148m
147m
145m
+0.7%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
1,861
1,865
1,772
-0.3%
Non-controlling interest
17.1
15.3
43.8
+11.4%
Redeemable equity
81.7
106
134
-22.8%
Debt
1,366
1,515
1,368
-9.8%
Operating lease liabilities
19.6
88.8
93.4
-77.9%
Other liabilities
303
199
226
+51.9%
Total liabilities and equity
3,648
3,789
3,636
-3.7%
Fixed assets
25.8
27.2
29.6
-5.0%
Goodwill
7.8
7.9
8.5
-0.5%
Cash and equivalents
180
114
362
+57.3%
Receivables
13.1
27.8
30.0
-53.0%
Inventory
29.2
23.7
28.5
+23.0%
Other assets
3,392
3,588
3,178
-5.5%
Total assets
3,648
3,789
3,636
-3.7%
10-K for the year ended 31 December 2023, filed 23 February 2024: the filing.