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RYAM

RAYONIER ADVANCED MATERIALS INC.
CIK 0001597672 ยท EDGAR โ†—
cleanelevatedtriggeredno dataplanned
16.0
composite ยท 4 signals ยท CLEAN

Every card below shows the score and the exact filing data it was computed from โ€” no unexplained numbers. Some signals (P-02, P-03, P-08, P-09, P-10, P-11) pull live documents from SEC EDGAR the first time you view this company; a few of those (P-03, P-10, P-11) use AI to read the filing text, but every AI claim must quote the actual document verbatim or it's discarded โ€” never a guess.

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Signals

P-13 ยท FY 2023-12-31 ยท ELEVATED67.1

Zombie / distress

[FY2023 data, stale โ€” no more recent EBIT figure in XBRL] Interest coverage -0.88x below 1.0
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2026-03-05) โ†—
Evidence โ€” inputs and thresholds
{
  "icr_by_year": {
    "2025-12-31": null,
    "2024-12-31": null,
    "2023-12-31": -0.884,
    "2022-12-31": 0.395
  },
  "consecutive_years_below_1": 2,
  "altman_z_double_prime": 3.04,
  "definitions": {
    "zombie": "ICR<1 for 3+ consecutive FYs (BIS 2018)",
    "z_distress": "<1.1 distress, 1.1-2.6 gray, >2.6 safe"
  },
  "inputs": {
    "ebit_t": -65264000,
    "interest_expense_t": 73810000
  },
  "stale": true,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1597672/000159767226000010/0001597672-26-000010-index.htm",
    "form": "10-K",
    "filed": "2026-03-05"
  }
}
P-01 ยท FY 2025-12-31 ยท CLEAN0.0

Earnings quality

Beneish M-Score -3.89 โ€” no manipulation profile
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2026-03-05) โ†—
Evidence โ€” inputs and thresholds
{
  "m_score": -3.887,
  "threshold": -1.78,
  "ratios": {
    "DSRI": 1.004,
    "GMI": 1.254,
    "AQI": 0.416,
    "SGI": 0.899,
    "DEPI": 1.018,
    "SGAI": 1.012,
    "LVGI": 1.091,
    "TATA": -0.254
  },
  "defaulted_to_neutral": [],
  "sloan_accruals": -0.2287,
  "inputs": {
    "revenue_t": 1466397000,
    "revenue_t1": 1630308000,
    "total_assets_t": 1758355000,
    "net_income_t": -420674000,
    "cfo_t": 23911000
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1597672/000159767226000010/0001597672-26-000010-index.htm",
    "form": "10-K",
    "filed": "2026-03-05"
  }
}
P-05 ยท FY 2018-12-31 ยท CLEAN40.0

Tax arbitrage

[FY2018 data, stale โ€” no more recent pretax-income figure in XBRL] ETR 21.4% โ€” within normal range of statutory
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2021-03-01) โ†—
Evidence โ€” inputs and thresholds
{
  "etr_by_year": {
    "2018-12-31": 0.2138,
    "2017-12-31": 0.0561
  },
  "statutory_rate": 0.21,
  "gap_by_year": {
    "2018-12-31": -0.0038,
    "2017-12-31": 0.1539
  },
  "note": "Low ETR can be fully legitimate; this flags persistence + magnitude for review.",
  "stale": true,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1597672/000159767221000009/0001597672-21-000009-index.htm",
    "form": "10-K",
    "filed": "2021-03-01"
  }
}
P-12 ยท FY 2025-12-31 ยท CLEAN20.0

Restatement predictor

F-Score 0.60 โ€” at or below the population base rate
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2026-03-05) โ†—
Evidence โ€” inputs and thresholds
{
  "f_score": 0.599,
  "probability": 0.00222,
  "components": {
    "rsst": -0.2287,
    "drec": -0.0106,
    "dinv": 0.0154,
    "soft": 0.3801,
    "dcs": -0.0879,
    "droa": -0.2211,
    "issue": 1
  },
  "model": "Dechow et al. 2011, Model 1 (simplified RSST)",
  "thresholds": {
    "elevated": 1,
    "triggered": 1.85
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1597672/000159767226000010/0001597672-26-000010-index.htm",
    "form": "10-K",
    "filed": "2026-03-05"
  }
}