Independence Realty Trust vs Rayonier
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KIRA’s take AI analyst
I put Independence Realty Trust and Rayonier side by side, using each one’s latest annual report. Here is what stands out:
- Independence Realty Trust is the larger business, with $658M of revenue in fiscal 2025 against $485M for Rayonier.
- Independence Realty Trust grew revenue faster (2.8%, against −51.0%).
- Rayonier earned a higher return on the capital invested in it (3.4%, against 2.3%).
Who comes out ahead
Of the 6 measures where higher (or lower) is clearly better, how many each company leads.
Independence Realty Trust
IRT
3/6
Revenue growth5-year growthShare count change
Rayonier
RYN
3/6
Net marginReturn on capitalReturn on equity
Side by side
Best in the row
| Latest fiscal year | IRT FY25 | RYN FY25 |
|---|---|---|
| Size | ||
| Market cap | $3.5B | $4.8B |
| Revenue | $658M | $485M |
| Free cash flow | — | — |
| Net income | $56.6M | $474M |
| Growth | ||
| Revenue growth | 2.8% | −51.0% |
| 5-year growth | 25.4% | −10.8% |
| Share count change | 4.1% | 4.4% |
| Profitability | ||
| Gross margin | — | 32.5% |
| Operating margin | — | 17.2% |
| Net margin | 8.6% | 97.9% |
| FCF margin | — | — |
| Return on capital | 2.3% | 3.4% |
| Return on equity | 1.6% | 23.8% |
| Balance sheet | ||
| Net debt | $2.3B | $202M |
| Net debt / EBITDA | 6.0x | — |
| Dividends and buybacks | $184M | $295M |
| Valuation & quality | ||
| P/E | 83.1x | — |
| Piotroski F-score | — | 4 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.

