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Side-by-side financial comparison of UiPath, Inc. (PATH) and RAYONIER INC (RYN). Click either name above to swap in a different company.

UiPath, Inc. is the larger business by last-quarter revenue ($411.1M vs $276.8M, roughly 1.5× RAYONIER INC). UiPath, Inc. runs the higher net margin — 48.4% vs -4.5%, a 52.8% gap on every dollar of revenue. On growth, RAYONIER INC posted the faster year-over-year revenue change (233.9% vs 15.9%). Over the past eight quarters, RAYONIER INC's revenue compounded faster (66.7% CAGR vs 0.7%).

UiPath Inc. is a global software company that develops artificial intelligence (AI) and agentic automation and orchestration software. The company's software enables the building and orchestration of AI agents to automate complex processes and workflows.

Rayonier Inc., headquartered in Wildlight, Florida is a timberland real estate investment trust ("REIT") with assets located in softwood timber growing regions in the United States and New Zealand. Its core business segments are timber and real estate.

PATH vs RYN — Head-to-Head

Bigger by revenue
PATH
PATH
1.5× larger
PATH
$411.1M
$276.8M
RYN
Growing faster (revenue YoY)
RYN
RYN
+218.0% gap
RYN
233.9%
15.9%
PATH
Higher net margin
PATH
PATH
52.8% more per $
PATH
48.4%
-4.5%
RYN
Faster 2-yr revenue CAGR
RYN
RYN
Annualised
RYN
66.7%
0.7%
PATH

Income Statement — Q3 FY2026 vs Q1 FY2026

Metric
PATH
PATH
RYN
RYN
Revenue
$411.1M
$276.8M
Net Profit
$198.8M
$-12.4M
Gross Margin
83.3%
100.0%
Operating Margin
3.2%
Net Margin
48.4%
-4.5%
Revenue YoY
15.9%
233.9%
Net Profit YoY
1966.2%
-264.7%
EPS (diluted)
$0.37

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
PATH
PATH
RYN
RYN
Q1 26
$276.8M
Q4 25
$411.1M
$117.5M
Q3 25
$361.7M
$177.5M
Q2 25
$356.6M
$106.5M
Q1 25
$423.6M
$82.9M
Q4 24
$354.7M
$650.5M
Q3 24
$316.3M
$124.1M
Q2 24
$335.1M
$99.6M
Net Profit
PATH
PATH
RYN
RYN
Q1 26
$-12.4M
Q4 25
$198.8M
$25.9M
Q3 25
$1.6M
$43.2M
Q2 25
$-22.6M
$408.7M
Q1 25
$51.8M
$-3.4M
Q4 24
$-10.7M
$327.1M
Q3 24
$-86.1M
$28.8M
Q2 24
$-28.7M
$1.9M
Gross Margin
PATH
PATH
RYN
RYN
Q1 26
100.0%
Q4 25
83.3%
41.9%
Q3 25
82.2%
32.9%
Q2 25
82.1%
29.7%
Q1 25
84.8%
21.7%
Q4 24
82.0%
53.8%
Q3 24
80.0%
30.4%
Q2 24
83.5%
25.4%
Operating Margin
PATH
PATH
RYN
RYN
Q1 26
Q4 25
3.2%
23.0%
Q3 25
-5.6%
23.5%
Q2 25
-4.6%
13.7%
Q1 25
7.9%
0.1%
Q4 24
-12.2%
47.7%
Q3 24
-32.7%
15.2%
Q2 24
-14.8%
4.6%
Net Margin
PATH
PATH
RYN
RYN
Q1 26
-4.5%
Q4 25
48.4%
22.1%
Q3 25
0.4%
24.3%
Q2 25
-6.3%
383.6%
Q1 25
12.2%
-4.1%
Q4 24
-3.0%
45.1%
Q3 24
-27.2%
23.2%
Q2 24
-8.6%
1.9%
EPS (diluted)
PATH
PATH
RYN
RYN
Q1 26
Q4 25
$0.37
$0.14
Q3 25
$0.00
$0.28
Q2 25
$-0.04
$2.63
Q1 25
$0.09
$-0.02
Q4 24
$-0.02
$2.18
Q3 24
$-0.15
$0.19
Q2 24
$-0.05
$0.01

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
PATH
PATH
RYN
RYN
Cash + ST InvestmentsLiquidity on hand
$1.4B
$681.7M
Total DebtLower is stronger
$2.1B
Stockholders' EquityBook value
$1.9B
$5.3B
Total Assets
$2.9B
$7.7B
Debt / EquityLower = less leverage
0.39×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
PATH
PATH
RYN
RYN
Q1 26
$681.7M
Q4 25
$1.4B
$842.9M
Q3 25
$1.4B
$919.6M
Q2 25
$1.6B
$892.3M
Q1 25
$1.6B
$216.2M
Q4 24
$1.6B
$303.1M
Q3 24
$1.7B
$51.9M
Q2 24
$1.9B
$120.2M
Total Debt
PATH
PATH
RYN
RYN
Q1 26
$2.1B
Q4 25
$845.3M
Q3 25
$845.1M
Q2 25
$844.9M
Q1 25
$1.0B
Q4 24
$1.0B
Q3 24
$1.3B
Q2 24
$1.4B
Stockholders' Equity
PATH
PATH
RYN
RYN
Q1 26
$5.3B
Q4 25
$1.9B
$2.2B
Q3 25
$1.7B
$2.3B
Q2 25
$1.7B
$2.3B
Q1 25
$1.8B
$1.9B
Q4 24
$1.7B
$1.8B
Q3 24
$1.8B
$1.8B
Q2 24
$2.0B
$1.8B
Total Assets
PATH
PATH
RYN
RYN
Q1 26
$7.7B
Q4 25
$2.9B
$3.4B
Q3 25
$2.6B
$3.5B
Q2 25
$2.6B
$3.5B
Q1 25
$2.9B
$3.4B
Q4 24
$2.7B
$3.5B
Q3 24
$2.7B
$3.5B
Q2 24
$2.8B
$3.5B
Debt / Equity
PATH
PATH
RYN
RYN
Q1 26
0.39×
Q4 25
0.38×
Q3 25
0.37×
Q2 25
0.37×
Q1 25
0.55×
Q4 24
0.59×
Q3 24
0.72×
Q2 24
0.75×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
PATH
PATH
RYN
RYN
Operating Cash FlowLast quarter
$28.3M
Free Cash FlowOCF − Capex
$25.1M
FCF MarginFCF / Revenue
6.1%
Capex IntensityCapex / Revenue
0.8%
7.4%
Cash ConversionOCF / Net Profit
0.14×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
PATH
PATH
RYN
RYN
Q1 26
Q4 25
$28.3M
$256.7M
Q3 25
$41.6M
$116.2M
Q2 25
$119.0M
$61.0M
Q1 25
$146.1M
$27.7M
Q4 24
$28.1M
$261.6M
Q3 24
$46.4M
$66.2M
Q2 24
$100.0M
$55.3M
Free Cash Flow
PATH
PATH
RYN
RYN
Q1 26
Q4 25
$25.1M
Q3 25
$99.9M
Q2 25
$106.2M
Q1 25
$138.7M
Q4 24
$23.2M
Q3 24
$45.0M
$42.2M
Q2 24
$98.8M
FCF Margin
PATH
PATH
RYN
RYN
Q1 26
Q4 25
6.1%
Q3 25
56.3%
Q2 25
29.8%
Q1 25
32.7%
Q4 24
6.5%
Q3 24
14.2%
34.0%
Q2 24
29.5%
Capex Intensity
PATH
PATH
RYN
RYN
Q1 26
7.4%
Q4 25
0.8%
Q3 25
0.0%
9.2%
Q2 25
3.6%
Q1 25
1.7%
Q4 24
1.4%
Q3 24
0.4%
19.3%
Q2 24
0.4%
Cash Conversion
PATH
PATH
RYN
RYN
Q1 26
Q4 25
0.14×
9.91×
Q3 25
26.25×
2.69×
Q2 25
0.15×
Q1 25
2.82×
Q4 24
0.80×
Q3 24
2.30×
Q2 24
29.07×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

PATH
PATH

Subscription Services$247.6M60%
License$150.0M36%
Professional Services And Other$13.5M3%

RYN
RYN

Wood Products$108.5M39%
Southern Timber$88.7M32%
Real Estate$59.8M22%
Northwest Timber$32.1M12%

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