Rayonier
S&P 400
Cash Flow
Cash Flow Breakdown
Figures in US$OperatingInvestingFinancing
How to read this: the three bars show where cash moved each year. Operating is cash from the core business (you generally want this positive and growing). Investing is usually negative — money spent on assets or acquisitions. Financing shows money raised from, or returned to, lenders and shareholders. Bars above the line are cash in; bars below are cash out.
Operating Cash Flow vs Capex
Figures in US$Operating Cash FlowCapital Expenditure
How to read this: operating cash flow is the cash the business generated; capital expenditure is what it spent on long-term assets like plant and equipment. The gap between them is roughly free cash flow — the cash left over. A wide gap (operating well above capex) means the business funds its investment comfortably from its own earnings.
| Period | Operating Cash Flow | Investing Cash Flow | Financing Cash Flow | Capital Expenditure |
|---|---|---|---|---|
| FY2014 | $320.42M | $-196.68M | $-161.45M | $63.71M |
| FY2015 | $177.16M | $-166.31M | $-116.46M | $57.29M |
| FY2016 | $203.80M | $-234.97M | $114.42M | $58.72M |
| FY2017 | $256.28M | $-235.25M | $-6.87M | $65.35M |
| FY2018 | $310.10M | $-132.86M | $-193.71M | $62.33M |
| FY2019 | $214.25M | $-219.39M | $-79.65M | $64.00M |
| FY2020 | $204.17M | $-213.64M | $27.00M | $66.50M |
| FY2021 | $325.11M | $-26.25M | $-16.31M | $75.97M |
| FY2022 | $269.19M | $-516.36M | $-4.59M | $74.81M |
| FY2023 | $298.38M | $124.09M | $-328.87M | $95.51M |
| FY2024 | $261.59M | $354.01M | $-479.36M | $102.53M |
| FY2025 | $256.66M | $615.05M | $-372.87M | — |
Figures in USD. Educational data only.
Understanding these terms
Plain-English explanations of each figure in the table above, and what a beginner typically looks at. These are educational descriptions only, not advice.
- Operating Cash Flow
- Cash produced by the company's core operations during the period. The US equivalent of "Cash from Operating Activity".How a beginner reads it: A beginner uses this as a reality check on profit, since it reflects cash actually collected. Healthy, consistent operating cash flow underpins a company's ability to invest and repay debt.
- Investing Cash Flow
- Cash used for or generated by buying and selling long-term assets and investments. The US equivalent of "Cash from Investing Activity".How a beginner reads it: A beginner expects this to be negative for companies investing in growth. Reading it next to operating cash flow shows whether the business funds its investments from its own earnings.
- Financing Cash Flow
- Cash flows with lenders and shareholders — borrowing, repaying, issuing shares, buybacks, and dividends. The US equivalent of "Cash from Financing Activity".How a beginner reads it: A beginner reads this to understand whether the company is taking in money (borrowing/issuing) or paying it out (repaying/dividends), and how that fits the operating picture.
- Capital Expenditure
- Money spent on buying or upgrading long-lived assets like plant, equipment, and buildings. Often shortened to "capex".How a beginner reads it: A beginner reads capex against operating cash flow to see whether a company funds its investment from its own earnings. Operating cash flow minus capex is roughly free cash flow.