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Monday 2 November 2026
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Ryman Hospitality Properties, Inc.
RHP Real Estate Reit Hotel & Motel
Ryman Hospitality Properties, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.6 billion, up 10.2% from fiscal 2024.
- Revenue
- +13.6%
- EPS
- +25.6%
- Free cash flow
- −52.5%
- Total debt
- −0.14%
Quarter to June 2026, against a year earlier
134.69
1.51
+1.13%
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Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | 1,149 | 1,185 | 1,275 | 1,605 | 524 | 939 | 1,806 | 2,158 | 2,339 | 2,577 | 2,744 | +9.4% | 2,922 | 3,278 | 3,434 | +10.0% | |
| Gross margin, % | 30.64 | 30.94 | 30.95 | 32.46 | (5.08) | 21.37 | 32.10 | 32.85 | 33.03 | 31.51 | 32.53 | +0.9 pt | ||||||
| EBT | 163 | 127 | 276 | 147 | (434) | (190) | 174 | 248 | 294 | 255 | 294 | +5.1% | ||||||
| EBT margin, % | 14.16 | 10.72 | 21.68 | 9.15 | (82.70) | (20.21) | 9.62 | 11.50 | 12.57 | 9.88 | 10.72 | (4.3) pt | ||||||
| Net income | 159 | 176 | 265 | 128 | (461) | (195) | 135 | 342 | 280 | 247 | 280 | +5.0% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 22.53 | 23.16 | 24.86 | 31.09 | 9.54 | 17.06 | 32.75 | 37.37 | 39.08 | 41.68 | 43.47 | +7.1% | |||||
| Earnings | 3.12 | 3.44 | 5.16 | 2.82 | (7.59) | (3.21) | 2.34 | 5.39 | 4.54 | 3.94 | 4.31 | +2.6% | ||||||
| Cash flow | 5.76 | 5.78 | 6.28 | 6.87 | (2.94) | 2.02 | 7.62 | 9.65 | 9.63 | 9.55 | 10.96 | +5.8% | ||||||
| Capex | (2.31) | (3.57) | (3.67) | (2.96) | (3.01) | (1.81) | (1.62) | (3.58) | (6.81) | (5.79) | (6.61) | +10.7% | ||||||
| Free cash flow | 3.44 | 2.21 | 2.61 | 3.92 | (5.95) | 0.21 | 5.99 | 6.07 | 2.82 | 3.76 | 4.35 | +1.0% | ||||||
| Book value | 7.21 | 7.39 | 9.15 | 12.49 | 4.00 | (0.41) | 1.74 | 9.92 | 9.23 | 12.76 | 12.53 | +6.5% | ||||||
| Shares, m | 51 | 51 | 51 | 52 | 55 | 55 | 55 | 58 | 60 | 62 | 63 | +2.2% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 20.26 | 20.18 | 12.95 | 30.73 | 0.00 | 0.00 | 34.25 | 20.78 | 22.98 | 24.02 | 31.25 | 18.6 | |||||
| P/S | 2.82 | 3.00 | 2.68 | 2.79 | 7.10 | 5.39 | 2.44 | 2.98 | 2.67 | 2.27 | 3.10 | 3.4 | ||||||
| P/B | 8.79 | 9.39 | 7.28 | 6.94 | 16.94 | 0.00 | 45.89 | 11.23 | 11.30 | 7.41 | 10.75 | 12.5 | ||||||
| EV/Sales | 4.05 | 4.27 | 4.48 | 4.12 | 12.02 | 8.34 | 3.78 | 4.22 | 3.87 | 3.62 | 4.40 | 5.3 | ||||||
| EV/FCF | 26.51 | 44.70 | 42.73 | 32.71 | (19.27) | 662.55 | 20.64 | 26.00 | 53.66 | 40.13 | 43.95 | 93.0 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | 294 | 296 | 322 | 355 | (162) | 111 | 420 | 557 | 577 | 591 | 692 | +8.1% | |||||
| Capex | (118) | (183) | (188) | (153) | (165) | (99) | (90) | (207) | (408) | (358) | (417) | +13.1% | ||||||
| Free cash flow | 176 | 113 | 134 | 202 | (327) | 12 | 330 | 350 | 169 | 232 | 275 | +3.2% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | (18) | 32 | 16 | 325 | (4) | 46 | 296 | 514 | 381 | 274 | 199 | n/m | |||||
| Net debt | 1,421 | 1,513 | 2,293 | 2,140 | 2,578 | 2,774 | 2,418 | 2,677 | 2,802 | 3,477 | 3,572 | +10.4% | ||||||
| Shareholders’ equity | 368 | 378 | 470 | 645 | 220 | (22) | 96 | 573 | 553 | 789 | 791 | +8.8% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | 6.73 | 7.14 | 8.30 | 3.67 | (10.92) | (4.96) | 3.39 | 6.74 | 5.22 | 4.27 | 4.42 | (2.5) pt | |||||
| ROIC | 7.53 | 6.15 | 4.85 | 6.01 | (6.79) | (1.33) | 8.13 | 8.73 | 9.14 | 7.14 | 7.79 | (0.4) pt | ||||||
| ROE | 42.64 | 47.20 | 62.44 | 26.17 | (96.56) | (179.28) | 350.96 | 93.08 | 48.27 | 36.29 | 33.29 | (6.3) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 807 | 899 | 1,113 | 1,206 | 995 | 1,061 | 1,269 | 1,471 | 1,929 | 1,819 | — | +9.5% | |||||
| Revenue/emp, $m | 1.42 | 1.32 | 1.15 | 1.33 | 0.53 | 0.89 | 1.42 | 1.47 | 1.21 | 1.42 | — | (0.1%) | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026
Business profile
Where the money comes from and where it goes Fiscal 2025
| Hospitality | 2,143 | 83.16% |
|---|---|---|
| Entertainment | 434 | 16.84% |
| Gross margin | 31.51% | |
| Operating margin | 18.90% | |
| Pre-tax margin | 9.88% |
Ryman Hospitality Properties, Inc. vs peers in Reit Hotel & Motel (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| HST Host Hotels & Resorts, Inc. | $17.3B | 16.9× | 18.4× | +3.40% (above 0%: growing) | +9.37% (above 0%: growing) | +8.23% (above 0%: growing) | 31.40% | 17.87% | Compare |
| RHP Ryman Hospitality Properties, Inc. | $9.1B | 30.9× | 33.6× | +13.56% (above 0%: growing) | +25.64% (above 0%: growing) | −52.50% (below 0%: shrinking) | 35.16% | 23.30% | |
| APLE Apple Hospitality REIT, Inc. | $4.4B | 25.0× | 25.7× | +4.73% (above 0%: growing) | +3.70% (above 0%: growing) | +26.31% (above 0%: growing) | 62.61% | 21.90% | Compare |
| PK Park Hotels & Resorts Inc. | $3.3B | — (loss-making) | 38.7× | +1.19% (above 0%: growing) | n/m | −32.86% (below 0%: shrinking) | 66.32% | 13.97% | Compare |
| DRH DiamondRock Hospitality Company | $2.9B | 19.5× | 18.2× | +4.11% (above 0%: growing) | +131.58% (above 0%: growing) | +55.54% (above 0%: growing) | 40.99% | 23.04% | Compare |
| PEB Pebblebrook Hotel Trust | $2.4B | — (loss-making) | — (loss-making) | −0.10% (below 0%: shrinking) | n/m | +45.80% (above 0%: growing) | 30.05% | 14.06% | Compare |
| SHO Sunstone Hotel Investors, Inc. | $2.4B | 58.1× | 46.6× | +6.67% (above 0%: growing) | +366.67% (above 0%: growing) | −48.66% (below 0%: shrinking) | 64.91% | 12.34% | Compare |
| RLJ RLJ Lodging Trust | $1.9B | — (loss-making) | 631× | +5.48% (above 0%: growing) | +6.67% (above 0%: growing) | +61.94% (above 0%: growing) | 63.62% | 14.50% | Compare |
| XHR Xenia Hotels & Resorts, Inc. | $1.9B | — (loss-making) | — (loss-making) | +2.75% (above 0%: growing) | n/m | −69.76% (below 0%: shrinking) | 60.89% | 0.01% | Compare |
| Median of peers | $2.7B | 22.3× | 32.2× | +3.76% | +9.37% | +17.27% | 61.75% | 14.28% |
Ryman Hospitality Properties is a real estate investment trust, or REIT, specializing in hotels designed for large group meetings and conventions. Founded in 1925 and headquartered in Nashville, it is led by President and Chief Executive Officer Mark Fioravanti.
Its core hotel portfolio consists of five Gaylord Hotels resorts and two JW Marriott resorts, with 11,869 rooms in total. These properties combine hotel rooms with meeting and exhibition space, restaurants, spas and other attractions. They serve meeting organizers and attendees as well as leisure travelers. Marriott manages their day-to-day operations, along with two nearby overflow hotels.