Filing Flows › Rayonier (RYN) › How it makes money
How Rayonier (RYN) makes money
Rayonier (RYN) made $397M of revenue in the second quarter 2026 (Q2 2026), +231% from a year earlier. Total Wood Products Sales brought in $196M (49%); Lumber brought in $158M (40%); Stumpage Pay-as-Cut brought in $23.9M (6%). Of every dollar of revenue, 9¢ was left as operating profit, 5¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q2 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Total Wood Products Sales | $196M | 49.4% | — | +121% |
| ↳ Total Delivered | $102M | 25.7% | — | +125% |
| ↳ Sawtimber | $94.1M | 23.7% | — | +117% |
| Lumber | $158M | 39.9% | — | — |
| ↳ Total Real Estate Sales | $53.3M | 13.4% | — | +83% |
| ↳ Plywood/Residual/Other | $37.5M | 9.5% | — | — |
| ↳ Pulpwood | $32.0M | 8.1% | — | +54% |
| ↳ Total Stumpage | $26.3M | 6.6% | — | +34% |
| ↳ License Revenue, Primarily From Hunting | $9.3M | 2.4% | — | +72% |
| Stumpage Pay-as-Cut | $23.9M | 6.0% | — | +25% |
| Total Non-Timber Sales | $18.4M | 4.6% | — | +51% |
Where each dollar of revenue goes
| Line | Q2 2026 | % of revenue |
|---|---|---|
| Revenue | $397M | 100.0% |
| Operating profit | $34.6M | 8.7% |
| Income tax | $2.8M | 0.7% |
| Net earnings | $19.1M | 4.8% |
| Operating cash flow | $111M | 27.9% |
| Free cash flow | $83.2M | 21.0% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q2 2026 | $396M | +272% |
| Q1 2026 | $277M | +234% |
| Q4 2025 | $117M | -82% |
| Q3 2025 | $178M | +43% |
| Q2 2025 | $107M | +7% |
| Q1 2025 | $82.9M | -27% |
| Q4 2024 | $726M | +55% |
From Rayonier's 10-Q filed Aug 7, 2026 (on EDGAR).
Questions
How does Rayonier make money?
Rayonier (RYN) made $397M of revenue in the second quarter 2026 (Q2 2026), +231% from a year earlier. Total Wood Products Sales brought in $196M (49%); Lumber brought in $158M (40%); Stumpage Pay-as-Cut brought in $23.9M (6%). Of every dollar of revenue, 9¢ was left as operating profit, 5¢ was left as net earnings.
What is Rayonier's biggest business?
Total Wood Products Sales: $196M in the second quarter 2026, 49% of revenue, +121% from a year earlier.
What is Rayonier's profit margin?
Net earnings were $19.1M, 4.8% of revenue, in the second quarter 2026; the operating margin was 8.7%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.