Latest Ratios: P/E Ratio -1.2x · EV/EBITDA 8.4x · ROE -79.8%. (2012–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $496M | $393M | $542M | $264M | $614M | $363M | $412M | $209M | $696M | $1.1B | $729M |
| Enterprise Value | $1.2B | $1.1B | $1.1B | $965M | $1.3B | $1.0B | $1.4B | $1.3B | $1.8B | $2.3B | $1.2B |
| P/E Ratio → | -1.17 | — | — | — | — | 5.44 | 412.66 | — | 5.43 | 3.52 | 9.97 |
| P/S Ratio | 0.34 | 0.27 | 0.33 | 0.16 | 0.36 | 0.26 | 0.31 | 0.15 | 0.33 | 1.19 | 0.84 |
| P/B Ratio | 1.50 | 1.20 | 0.75 | 0.35 | 0.74 | 0.45 | 0.59 | 0.31 | 0.99 | 1.65 | 3.44 |
| P/FCF | — | — | 5.67 | 30.65 | — | 2.60 | 6.59 | — | 6.06 | 20.79 | 5.10 |
| P/OCF | 20.67 | 16.39 | 2.66 | 1.93 | 8.92 | 1.56 | 3.31 | 5.00 | 2.82 | 8.79 | 3.14 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.75 | 0.70 | 0.59 | 0.77 | 0.74 | 1.04 | 0.87 | 0.83 | 2.38 | 1.36 |
| EV / EBITDA | 8.39 | 7.67 | 6.49 | 12.92 | 8.18 | 8.13 | 12.99 | 13.95 | 5.16 | 14.86 | 5.24 |
| EV / EBIT | 133.34 | 121.93 | 31.41 | — | 31.04 | — | — | — | 9.73 | 5.94 | 8.21 |
| EV / FCF | — | — | 11.99 | 112.20 | — | 7.42 | 22.41 | — | 15.44 | 41.60 | 8.29 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 8.1% | 8.1% | 10.2% | 5.4% | 7.2% | 5.3% | 4.7% | 3.7% | 16.1% | 14.5% | 20.9% |
| Operating Margin | 0.6% | 0.6% | 2.4% | -4.0% | 1.5% | -0.7% | -2.3% | -3.7% | 9.3% | 5.9% | 15.9% |
| Net Profit Margin | -28.6% | -28.6% | -2.4% | -6.2% | -0.9% | 4.7% | 0.0% | -1.6% | 6.0% | 33.8% | 8.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -79.8% | -79.8% | -5.3% | -12.9% | -1.8% | 8.8% | 0.1% | -3.2% | 18.3% | 71.7% | 74.9% |
| ROA | -21.6% | -21.6% | -1.8% | -4.5% | -0.6% | 2.7% | 0.0% | -0.9% | 4.8% | 16.0% | 5.4% |
| ROIC | 0.6% | 0.6% | 2.1% | -3.3% | 1.3% | -0.5% | -1.3% | -2.2% | 8.2% | 3.4% | 14.6% |
| ROCE | 0.6% | 0.6% | 2.2% | -3.4% | 1.3% | -0.5% | -1.4% | -2.3% | 8.5% | 3.1% | 11.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.38 | 2.38 | 1.01 | 1.04 | 1.03 | 1.14 | 1.56 | 1.62 | 1.68 | 1.79 | 3.69 |
| Debt / EBITDA | 5.45 | 5.45 | 4.13 | 10.41 | 5.31 | 7.26 | 10.04 | 12.33 | 3.45 | 8.06 | 3.46 |
| Net Debt / Equity | — | 2.15 | 0.83 | 0.94 | 0.85 | 0.83 | 1.42 | 1.53 | 1.53 | 1.65 | 2.16 |
| Net Debt / EBITDA | 4.92 | 4.92 | 3.42 | 9.39 | 4.36 | 5.28 | 9.17 | 11.62 | 3.14 | 7.44 | 2.02 |
| Debt / FCF | — | — | 6.32 | 81.55 | — | 4.82 | 15.82 | — | 9.38 | 20.82 | 3.20 |
| Interest Coverage | 0.09 | 0.09 | 0.43 | -0.79 | 0.64 | -0.25 | -0.57 | -1.01 | 3.26 | 9.64 | 4.17 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.21 | 0.21 | 1.50 | 1.53 | 1.95 | 2.19 | 2.16 | 1.94 | 1.94 | 2.10 | 4.12 |
| Quick Ratio | -0.45 | -0.45 | 0.98 | 0.98 | 1.20 | 1.54 | 1.58 | 1.06 | 1.07 | 1.12 | 3.18 |
| Cash Ratio | 0.21 | 0.21 | 0.31 | 0.20 | 0.43 | 0.82 | 0.32 | 0.22 | 0.29 | 0.31 | 2.59 |
| Asset Turnover | — | 0.83 | 0.77 | 0.75 | 0.73 | 0.58 | 0.53 | 0.58 | 0.80 | 0.36 | 0.61 |
| Inventory Turnover | 5.66 | 5.66 | 7.04 | 7.50 | 6.01 | 5.78 | 7.50 | 5.48 | 5.57 | 2.72 | 5.80 |
| Days Sales Outstanding | — | 48.56 | 48.50 | 48.18 | 45.21 | 52.64 | 64.61 | 46.34 | 34.18 | 68.86 | 15.80 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | 4.1% | 2.2% | 1.1% | 1.6% |
| Payout Ratio | — | — | — | — | — | — | — | — | 11.8% | 3.9% | 16.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | 18.4% | 0.2% | — | 18.4% | 28.4% | 10.0% |
| FCF Yield | — | — | 17.6% | 3.3% | — | 38.5% | 15.2% | — | 16.5% | 4.8% | 19.6% |
| Buyback Yield | 0.6% | 0.8% | 0.2% | 2.1% | 0.1% | 0.4% | 0.1% | 3.3% | 6.1% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.6% | 0.8% | 0.2% | 2.1% | 0.1% | 0.4% | 0.1% | 7.4% | 8.3% | 1.1% | 1.6% |
| Shares Outstanding | — | $67M | $66M | $65M | $64M | $64M | $63M | $55M | $65M | $56M | $47M |
Solvency and liquidity constraints
According to current market data, RYAM trades at a P/S multiple of 0.37, which, when viewed alongside a negative TTM P/E of -1.27, suggests that investors are heavily discounting the company's future earnings potential due to persistent bottom-line distress and ongoing structural challenges within its core segments.
The current EV/EBITDA multiple of 8.69 appears to be a reflection of market skepticism regarding the company's ability to restore historical profitability levels. This valuation suggests that the market is pricing in significant execution risk, as the lack of a positive forward P/E indicates that analysts remain uncertain about the timing and magnitude of a potential earnings recovery.
Based on reported figures, RYAM's ROIC has trended into negative territory, reaching -2.0% in 2026Q1, which highlights a fundamental inability to generate returns above the cost of capital and suggests that the company's recent investments have failed to create value for shareholders in the current cycle.
The consistent decay in ROIC over the last ten quarters points to a structural issue where capital-intensive mill operations are not producing sufficient margins to justify their maintenance costs. This trend warrants further investigation into whether the company's pivot toward specialized cellulose products is being undermined by the high fixed-cost burden of its legacy assets.
As reported in financial statements, the company's asset turnover ratio has remained stagnant near 0.19, indicating that RYAM is struggling to extract meaningful revenue from its significant investment in property, plant, and equipment compared to its historical performance and broader industry benchmarks.
The lack of improvement in asset turnover suggests that the company's manufacturing footprint may be underutilized, potentially due to the cyclical nature of demand for commodity pulp and paperboard. Investors should monitor whether management can optimize its production capacity or if the current asset base is structurally misaligned with current market demand.
According to recent SEC filings, RYAM's debt-to-equity ratio has surged to 3.17 in 2026Q1, a significant escalation from the 1.04 level observed in 2023Q4, which indicates that the company's reliance on leverage has intensified as its equity base has simultaneously eroded under the weight of persistent losses.
The negative interest coverage ratio of -1.16 in the most recent quarter is particularly concerning, as it implies that operating income is insufficient to cover debt service obligations. This situation suggests that the company may face increasing pressure to secure additional financing or divest assets to maintain liquidity, which could further dilute existing shareholders.
Based on an analysis of the company's business model, the P/E ratio is the most commonly misapplied metric, as it fails to account for the significant non-cash impairment charges and maintenance-related volatility that frequently distort RYAM's reported net income and mask the underlying cash-generating capacity of the business.
Investors should instead focus on EV/EBITDA or free cash flow metrics to better understand the company's operational performance, as these measures are less sensitive to the accounting noise inherent in capital-intensive chemical manufacturing. Relying on P/E in this context may lead to an inaccurate assessment of the company's true valuation and its ability to navigate current liquidity constraints.
Includes 30+ ratios · 14 years · Updated daily
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Quick answers to the most common questions about buying RYAM stock.
Rayonier Advanced Materials Inc.'s current P/E ratio is -1.2x. The historical average is 10.3x.
Rayonier Advanced Materials Inc.'s current EV/EBITDA is 8.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.5x.
Rayonier Advanced Materials Inc.'s return on equity (ROE) is -79.8%. The historical average is 13.6%.
Based on historical data, Rayonier Advanced Materials Inc. is trading at a P/E of -1.2x. Compare with industry peers and growth rates for a complete picture.
Rayonier Advanced Materials Inc. has 8.1% gross margin and 0.6% operating margin.
Rayonier Advanced Materials Inc.'s Debt/EBITDA ratio is 5.4x, indicating high leverage. A ratio above 4x may signal elevated financial risk.