Is Rayonier, Inc. overvalued or undervalued?

As of 21 November 2025, the valuation grade for Rayonier, Inc. has moved from fair to attractive, indicating a shift in its perceived value. The company appears to be undervalued, with a P/E ratio of 10, an EV to EBITDA ratio of 5.30, and a PEG ratio of 0.09, all suggesting that the stock may be trading below its intrinsic value compared to its earnings growth potential.
In comparison to its peers, Rayonier has a lower P/E ratio than AGNC Investment Corp. at 28.50 and Vornado Realty Trust at 9.71, which reinforces the notion of its undervaluation. Despite this, Rayonier's recent performance has been disappointing, with a year-to-date return of -16.02%, significantly lagging behind the S&P 500's return of 12.26% during the same period. This divergence highlights the potential for value recovery as the market reassesses Rayonier's prospects.