Discounted Cash Flow

Rayonier Inc. REIT

RYN · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $788.3m $212.0m $145.1m 26.9% $1.73
2017 $819.6m (4.0%) $148.8m (-29.8%) $190.9m (31.6%) 18.2% (-32.5%) $1.17 (-32.4%)
2018 $816.1m (-0.4%) $102.2m (-31.3%) $247.8m (29.8%) 12.5% (-31.0%) $0.79 (-32.5%)
2019 $711.6m (-12.8%) $59.1m (-42.2%) $150.3m (-39.4%) 8.3% (-33.7%) $0.46 (-41.8%)
2020 $858.5m (20.7%) $37.1m (-37.3%) $137.7m (-8.4%) 4.3% (-48.0%) $0.28 (-39.1%)
2021 $1.1b (29.1%) $152.6m (311.4%) $249.1m (81.0%) 13.8% (218.6%) $1.08 (285.7%)
2022 $907.8m (-18.1%) $107.1m (-29.8%) $194.4m (-22.0%) 11.8% (-14.3%) $0.73 (-32.4%)
2023 $1.1b (16.3%) $173.5m (62.0%) $216.9m (11.6%) 16.4% (39.4%) $1.17 (60.3%)
2024 $1.3b (19.5%) $359.1m (107.0%) $181.8m (-16.2%) 28.5% (73.2%) $2.41 (106.0%)
2025 $483.0m (-61.7%) $474.4m (32.1%) $199.5m (9.7%) 98.2% (245.0%) $3.07 (27.4%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model