Rayonier Inc. (RYN) Income Statement
RYN 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsRYN revenue and net income
Where RYN's revenue goes
2025Each bar shows an amount and its share of revenue. RYN kept 97.9% of revenue as net income.
RYN profit margins
RYN growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −61.6% | −18.9% | −10.8% | −1.2% |
| Gross profit | −67.1% | −10.7% | +1.4% | +4.2% |
| Operating income | −79.3% | −20.5% | +2.3% | +0.7% |
| Net income | +32.1% | +64.2% | +66.5% | +26.2% |
| EPS (diluted) | +21.7% | −3.3% | +17.5% | −0.2% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
RYN quarterly EPS vs estimates
Rayonier beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: November 4, 2026 (estimate $0.09).
RYN income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $484.5M | $1.26B | $1.06B | $909.1M | $1.11B | $859.2M | $711.6M | $816.1M | $819.6M | $788.3M |
| Cost of revenue | $327.2M | $784.8M | $762.6M | $688.3M | $796.1M | $712.4M | $558.4M | $605.2M | $568.3M | $524.7M |
| Gross profit | $157.3M | $478.2M | $294.4M | $220.8M | $313.5M | $146.7M | $153.2M | $210.9M | $251.3M | $263.6M |
| Research & development | — | — | $0 | $0 | $0 | $16 | $0 | $0 | $0 | $0 |
| Sales, general & admin | $66.7M | $74.4M | $70.3M | $64.7M | $57.8M | $50.6M | $41.6M | $42.0M | $40.2M | $42.8M |
| Total operating expenses | $74.0M | $75.7M | $83.1M | $55.0M | $43.7M | $72.3M | $46.2M | $40.8M | $35.8M | $33.7M |
| Operating income | $83.3M | $402.5M | $211.3M | $165.8M | $269.8M | $74.4M | $107.0M | $170.1M | $215.5M | $255.8M |
| Interest income | $2.0M | $10.5M | $23.3M | $36.2M | $200,000 | $1.2M | $5.3M | $4.6M | $1.8M | $698,000 |
| Interest expense | $26.3M | $36.9M | $48.3M | $36.2M | $44.9M | $38.8M | $31.7M | $32.1M | $34.1M | $33.0M |
| Income before taxes | $74.6M | $376.0M | $183.6M | $132.2M | $225.1M | $36.8M | $80.6M | $142.6M | $183.3M | $222.8M |
| Income taxes | $500,000 | $7.0M | $5.1M | $9.4M | $14.7M | $7.0M | $12.9M | $25.3M | $21.8M | $5.0M |
| Net income | $474.4M | $359.1M | $173.5M | $107.1M | $152.6M | $37.1M | $59.1M | $102.2M | $148.8M | $212.0M |
| EBITDA | $207.4M | $526.8M | $368.5M | $315.7M | $425.8M | $240.6M | $240.6M | $313.4M | $344.9M | $370.9M |
| EPS (diluted) | $0.56 | $0.46 | $0.36 | $0.62 | $0.66 | $0.25 | $0.45 | $0.79 | $0.64 | $0.56 |
| Gross margin | 32.5% | 37.9% | 27.9% | 24.3% | 28.3% | 17.1% | 21.5% | 25.8% | 30.7% | 33.4% |
| Operating margin | 17.2% | 31.9% | 20.0% | 18.2% | 24.3% | 8.7% | 15.0% | 20.8% | 26.3% | 32.4% |
| Net margin | 97.9% | 28.4% | 16.4% | 11.8% | 13.7% | 4.3% | 8.3% | 12.5% | 18.2% | 26.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $396.5M | $276.8M | $117.5M | $177.5M | $106.5M | $82.9M | $726.3M | $195.0M | $99.6M | $113.7M | $467.4M | $201.6M |
| Cost of revenue | $320.8M | $286.5M | $68.2M | $119.1M | $98.3M | $65.0M | $365.8M | $147.2M | $74.3M | $96.1M | $299.4M | $145.6M |
| Gross profit | $75.7M | −$9.7M | $49.3M | $58.4M | $8.2M | $17.9M | $360.5M | $47.8M | $25.3M | $17.6M | $168.0M | $56.0M |
| Sales, general & admin | $30.7M | $21.7M | $16.1M | $17.0M | $16.9M | $16.7M | $19.1M | $20.0M | $20.6M | $19.0M | $20.1M | $18.9M |
| Total operating expenses | $41.1M | $36.0M | $22.3M | $16.7M | −$6.5M | $17.8M | $14.3M | $20.2M | $20.8M | $18.7M | $22.8M | $20.6M |
| Operating income | $34.6M | −$45.7M | $27.0M | $41.7M | $14.7M | $100,000 | $346.2M | $27.6M | $4.5M | $53.3M | $145.2M | $35.4M |
| Interest income | $4.8M | $7.2M | $2.6M | $9.8M | $2.3M | $2.9M | $1.7M | $12.9M | $905,000 | $1.9M | $1.1M | $12.6M |
| Interest expense | $16.9M | $14.3M | $6.7M | $6.8M | $11.1M | $6.4M | $7.3M | $10.0M | $9.8M | $14.7M | $12.6M | $12.6M |
| Income before taxes | $22.1M | −$51.9M | $26.4M | $43.7M | $9.8M | −$5.3M | $340.5M | $30.5M | −$3.9M | $1.5M | $132.6M | $23.3M |
| Income taxes | $2.9M | −$39.4M | $200,000 | $200,000 | −$398.9M | $291,000 | $7.3M | $35,000 | $500,000 | −$832,000 | $3.3M | $547,000 |
| Net income | $19.1M | −$12.4M | $25.9M | $43.2M | $408.7M | −$3.4M | $327.1M | $28.8M | $1.9M | $1.4M | $126.9M | $19.2M |
| EBITDA | $109.4M | $18.6M | $57.9M | $85.3M | $44.3M | $100,000 | $381.5M | $68.4M | $41.2M | $90.4M | $188.1M | $72.9M |
| EPS (diluted) | $0.10 | $0.07 | $0.20 | $0.32 | $0.06 | −$0.02 | $0.27 | $0.12 | $0.02 | $0.05 | $0.17 | $0.13 |
| Gross margin | 19.1% | −3.5% | 42.0% | 32.9% | 7.7% | 21.6% | 49.6% | 24.5% | 25.4% | 15.5% | 36.0% | 27.8% |
| Operating margin | 8.7% | −16.5% | 23.0% | 23.5% | 13.8% | 0.1% | 47.7% | 14.2% | 4.6% | 46.9% | 31.1% | 17.5% |
| Net margin | 4.8% | −4.5% | 22.0% | 24.3% | 383.6% | −4.1% | 45.0% | 14.7% | 1.9% | 1.2% | 27.2% | 9.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in RYN's financial statements (latest annual report filed February 23, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
RYN financial results
In fiscal year 2025 (ended December 31, 2025), Rayonier reported revenue of $484.5 million, down 61.6% from the year before. It had net income of $474.4 million (up 32.1%), a net profit margin of 97.9%. Diluted earnings per share came to $0.56. Over five years revenue grew at an average rate of −10.8% a year.
See the RYN stock overview for the latest quote and news, or the RYN chart for price history and technical indicators.
RYN income statement FAQ
What is Rayonier's annual revenue?
Rayonier reported total revenue of $484.5 million for fiscal year 2025, which ended on December 31, 2025. That was down 61.6% from $1.3 billion the previous year.
Is Rayonier profitable?
Yes. Rayonier reported net income of $474.4 million in fiscal 2025, a net profit margin of 97.9%; its operating margin was 17.2%.
What is Rayonier's gross margin?
Rayonier's gross margin was 32.5% in fiscal 2025: for every $100 of revenue, Rayonier kept $32 after the direct cost of its products and services.
How fast is Rayonier growing?
Revenue grew −10.8% a year on average over the last five fiscal years, from $859.2 million to $484.5 million.
What are Rayonier's earnings per share?
Rayonier earned $0.56 per diluted share in fiscal 2025, compared with $0.46 a year earlier.
When will Rayonier report its next earnings?
Rayonier is expected to report results for the quarter ending September 30, 2026 on November 4, 2026 after the market closes.
When does Rayonier's fiscal year end?
Rayonier's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 23, 2026.