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ZYBERNO

Stock Report

Updated Sep 1, 2026

RAYONIER ADVANCED MATERIALS INC. (RYAM)

NYSE

$8.60

Professional Investment Analysis

ZYBERNO SCORE →

Is it a great business? Is it getting better?

17.0/100

POOR BUSINESS

RAYONIER ADVANCED MATERIALS INC. (RYAM) scores 17/100 — concerning metrics indicating significant structural or financial risks.

📊 How is the Zyberno Score calculated? +

The Zyberno Score answers one question: "Is this a quality business worth owning?" It's a 0-100 investment grade that evaluates business fundamentals across four critical dimensions, based on principles from Warren Buffett, Benjamin Graham, Peter Lynch, and Charlie Munger.

The 4 Core Categories (25 points each):

1. PROFITABILITY (25 pts)

Metrics: ROE, ROIC, Net Margin, Operating Margin
Thresholds: ROE >20% excellent • ROIC >20% excellent • Net Margin >20% excellent • Operating Margin >25% excellent

2. FINANCIAL STRENGTH (25 pts)

Metrics: Debt-to-Equity, Current Ratio, Interest Coverage, Altman Z-Score
Thresholds: D/E <0.3 excellent • Current Ratio >2.5 excellent • Interest Coverage >10x excellent • Altman Z >3.0 safe

3. CASH FLOW QUALITY (25 pts)

Metrics: Free Cash Flow, OCF vs Net Income, FCF Margin
Thresholds: Positive & growing FCF excellent • OCF/NI >1.2x excellent (cash earnings exceed accounting)

4. GROWTH & CONSISTENCY (25 pts)

Metrics: Revenue Growth, Net Income Growth, FCF Growth, Piotroski F-Score
Thresholds: Growth via log-linear regression • Piotroski 8-9 excellent, 6-7 good

Score Interpretation:

75-100

GREAT BUSINESS

65-74

GOOD BUSINESS

50-64

AVERAGE BUSINESS

30-49

WEAK BUSINESS

0-29

POOR BUSINESS

→ View full RYAM quality analysis & detailed breakdown

VALUATION SIGNAL

N/A (Requires more data)

Requires fair value calculation and current price data

💰 How is Margin of Safety calculated? +

Margin of Safety measures how much discount or premium you're paying relative to a stock's intrinsic value. It's Benjamin Graham's core principle: the larger the margin, the lower your downside risk.

Formula: (Intrinsic Value − Current Price) ÷ Intrinsic Value × 100%

How We Calculate Intrinsic Value (DCF Method):

Step 1: Calculate current Owner Earnings (OCF − Maintenance CapEx)

Step 2: Calculate company-specific growth rate using log-linear regression on 16 quarters of Owner Earnings

Step 3: Project 10 years forward using the calculated growth rate

Step 4: Discount each year's cash flow to present value using 10% discount rate

Step 5: Calculate terminal value using 3% perpetual growth rate

Step 6: Sum all discounted cash flows = Intrinsic Value

What The Percentages Mean:

+50% or more

EXCELLENT — Very undervalued

+25% to +50%

GOOD — Attractive discount

0% to +25%

FAIR — Reasonable value

0% to -25%

CAUTION — Slight premium

-25% or worse

POOR — Overvalued

"Price is what you pay, value is what you get." — Warren Buffett

→ View full RYAM valuation analysis · → View full RYAM Brina Gap analysis

📈 How is Brina Gap calculated? +

Brina Gap measures the difference between the growth a business can fundamentally sustain and the growth the market is already pricing in.

Formula: Fundamental Growth Rate − Market-Implied Growth Rate

The Two Components:

Fundamental Growth Rate = ROIC × Reinvestment Rate

What the business can sustainably grow at based on how much it reinvests and what return it earns on that capital. Grounded in historical financials.

Market-Implied Growth Rate = Reverse DCF

The growth rate the current Enterprise Value implicitly assumes. Calculated by back-solving a 10-year DCF model (10% WACC, 3% terminal growth) until the present value of projected cash flows equals EV.

What The Gap Means:

Gap > +5% Market Underestimates — potential upside

+2% to +5% Slight Underestimate

-2% to +2% Fairly Priced — market consensus matches fundamentals

-5% to -2% Slight Overestimate

Gap < -5% Market Overestimates — price embeds optimism fundamentals don't support

A positive gap (market underestimates) combined with a positive Margin of Safety is the strongest combined signal — the business is both cheap historically and forward economics are stronger than the price suggests.

Critical Financial Health Indicators

Return on Equity (Profitability):CRITICAL (-51.9%)

Debt-to-Equity (Solvency Risk):EXCELLENT (0.14x)

Operating Margin (Operational Efficiency):CRITICAL (-3.5%)

Return on Capital (Capital Efficiency):CRITICAL (-4.2%)

📊 Valuation Trilogy

Three interconnected metrics for complete valuation analysis

Click any metric for full methodology and detailed analysis

Zyberno's Verdict

RAYONIER ADVANCED MATERIALS INC. (RYAM) stock report — Zyberno Score 17/100 (POOR BUSINESS). Full financial analysis on Zyberno.

DIVISION I: EXECUTIVE SUMMARY

A. Market Valuation

Market Price & Capitalization (2)

Current Price:8.60

Market Cap:$580.59M

Valuation Multiples (3)

P/B Ratio:2.98x

P/S Ratio:0.40x

Peg Ratio:-999.00x

Enterprise Metrics (2)

Enterprise Value:$1.30B

Ev Ebitda Ratio:19.41x

Price Action & Momentum (3)

12-1 Momentum:

+54.4% (92th pctile)

📈 Click to view full RYAM Momentum analysis →

Momentum Percentile:92 / 100

% of 52-Week High:72.6%

B. Profitability Assessment

Return Metrics (5)

ROE:

-51.9%

📊 Click to view full RYAM ROE analysis →

ROA:-8.2%

Roic:

-4.2%

📊 Click to view full RYAM ROIC analysis →

Reinvestment Rate:349.3%

Fundamental Growth Rate (g):-14.7%

Margin Analysis (3)

Operating Margin Ttm:-3.5%

Net Margin Ttm:-9.5%

Ebitda Margin:4.6%

TTM Performance (3)

Gross Margin Ttm:5.9%

Operating Margin Ttm:-3.5%

Net Margin Ttm:-9.5%

Yield Metrics (2)

Earnings Yield:-$24.53

Dividend Yield:0.0%

C. Log-Linear Regression Growth Trends

Earnings Surprise (SUE) (3)

Earnings Surprise (SUE):

+3.67

📊 Click to view full RYAM Earnings Surprise analysis →

EPS Surprise vs Expected:91.8%

Latest Earnings Filed:2026-08-05

Revenue Growth (Linear) (1)

Revenue Growth Rate (Linear):-7.0%

Cash Flow Growth (Linear) (1)

Operating Cash Flow Growth Rate (Linear):-10.9%

Operating Growth (Linear) (1)

Operating Income Growth Rate (Linear):-20.8%

D. Financial Stability

Liquidity Ratios (3)

Current Ratio:1.37x

Quick Ratio:0.85x

Cash Ratio:0.15x

Leverage Analysis (3)

Debt To Equity Ttm:0.14x

Debt-to-Equity Ratio:0.14x

Debt To Ebitda:11.58x

Coverage Ratios (2)

Interest Coverage Ratio:0.04x

Times Interest Earned:0.04

Capital Structure (4)

Working Capital:138,621,000.00

Cash And Cash Equivalents:57,009,000.00

Long Term Debt:$745.14M

Net Debt:$717.76M

DIVISION II: FINANCIAL STATEMENTS ANALYSIS

A. Income Statement Analysis

Revenue Components (2)

Revenue TTM: $1.47B

Linear Growth: -7.0%

📊 Click to view full RYAM Revenue analysis & methodology →

Cost Of Revenue Ttm:$1.38B

Profitability Breakdown (2)

Gross profit TTM: $86.44M

Linear Growth: -1.3%

📊 Click to view full RYAM Gross Profit analysis & methodology →

Operating income TTM: -$51.13M

Linear Growth: -20.8%

📊 Click to view full RYAM Operating Income analysis & methodology →

Bottom Line Performance (3)

-$139.93M

Income Before Tax:-$150.13M

Ebitda Ttm:66,882,000.00

Operating Expenses (5)

Operating Expenses:0.00

R And D Expense:7,000,000.00

Sga Expense:79,127,000.00

Income Tax Expense:-$15.32M

Interest Expense:98,484,000.00

Expense Ratios (3)

R And D To Revenue Percentage:1.9%

Sga To Revenue Percentage:21.0%

Ebitda Margin:4.6%

B. Balance Sheet Analysis

Asset Composition (5)

Total Assets:$1.62B

Current Assets:$510.42M

Ppe Net:944,459,000.00

Goodwill:0.00

Intangible Assets:$3.64M

Liability Structure (4)

Total Liabilities:1,425,049,000.00

Current Liabilities:371,801,000.00

Long Term Debt:$745.14M

Short Term Debt:$29.63M

Equity & Capital (3)

Equity:$194.75M

Retained Earnings:-$204.28M

Common Stock:140,000,000.00

Working Capital Items (3)

Accounts Receivable:180,050,000.00

Inventory:196,009,000.00

Accounts Payable:193,845,000.00

Special Items (2)

Contract Liabilities:4,060,000.00

Stock Based Compensation:1,000,000.00

C. Cash Flow Analysis

Operating Activities (2)

Operating cash flow TTM: $16.23M

Linear Growth: -10.9%

$0.00

Investment Activities (1)

Investing Cash Flow:-$20.00M

Financing Activities (3)

Financing Cash Flow:-$18.28M

Dividends Paid Ttm:0.00

Stock Repurchase:0.00

Capital Transactions (3)

Common Stock Issuance:0.00

Long Term Debt Issuance:$159.05M

Long Term Debt Repayments:$171.22M

Non-Cash Items (1)

Depreciation Amortization Ttm:118,010,000.00

DIVISION III: OPERATIONAL METRICS

A. Per Share Analysis

Earnings Per Share (3)

EPS (Basic TTM):-2.11

-$2.11

Earnings Per Share Ttm:-$2.07

Revenue & Cash Per Share (2)

Sales Per Share Ttm:21.71

Operating Cash Flow Per Share:$0.35

Book Value & Capital (2)

Book Value Per Share:$2.88

Cash Per Share:0.84

Dividend Policy (1)

Dividend Payout Ratio:-999.00x

B. Operational Efficiency

Asset Utilization (2)

Asset Turnover Ttm:0.86x

Working Capital Turnover Ttm:10.57x

Receivables Management (2)

Receivables Turnover Ttm:8.14x

Days Sales Outstanding Ttm:44.84

Inventory Management (2)

Inventory Turnover Ttm:7.04x

Days Inventory Outstanding Ttm:51.88

Payables & Cash Cycle (2)

Days Payable Outstanding:51.30

Cash Conversion Cycle:45.41

C. Quality & Risk Metrics

Financial Quality Scores (2)

Financial Strength Score:20.00

Quality Score:30.00

Market Metrics (2)

Beta:0.00x

Volatility Category:unknown

DIVISION IV: INVESTMENT ANALYSIS

A. Value Investment Framework

Damodaran Growth Analysis (2)

Reinvestment Rate:349.3%

Fundamental Growth Rate (g):-14.7%

B. Log-Linear Regression Growth Analysis

Growth Rates (Log-Linear Regression) (2)

Revenue Growth Rate (Linear):-7.0%

Operating Income Growth Rate (Linear):-20.8%

Cash Flow Growth Rates (1)

Operating Cash Flow Growth Rate (Linear):-10.9%

Other Growth Rates (2)

Gross Profit Growth Rate (Linear):-1.3%

Book Value Growth Rate (Linear):-26.0%

C. Company Profile & Context

Corporate Information (6)

Symbol:RYAM

Company Name:RAYONIER ADVANCED MATERIALS INC.

Sector:Unknown

Industry:Pulp Mills

Exchange:NYSE

Country:United States

Market Classification (3)

Market Cap Category:N/A

Price Category:low

Volume Category:N/A

Share Structure (3)

Shares Outstanding:67.51M

Shares Outstanding Basic:67.51M

Shares Outstanding Diluted:67.51M

Data Processing Info (3)

Processing Version:v3.0

Last Updated:2026-09-01 21:53:00 UTC

Data Timestamp:2026-09-01T21:53:00.179236