Pricing Log in Create free account
Saturday 7 November 2026 Export RHP’s income statement to Excel — free account

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
+10.7%
EPS
+8.80%
Free cash flow
−46.8%
Total debt
+17.2%

Quarter to September 2026, against a year earlier

131.97 0.30 +0.23%
Market cap
$9.1B
P/E
30.3×
Fwd P/E
33.6×
Dividend yield
3.64%
F-score
4/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Ryman Hospitality Properties, Inc. (RHP) valuation and DCF model

What the price implies · reverse DCF

At $131.97 the price implies FFO a share growing 2.0% a year for ten years.

FFO a share grew 5.2% a year over the last ten years. The price asks for less than its ten-year rate. The industry’s median company is priced for 3.3%.

In December 2017 the price assumed 0.5% a year; Ryman Hospitality Properties, Inc. went on to grow FFO a share 2.9% a year to FY2025.

FFO a share is worked out from Ryman Hospitality Properties, Inc.’s 10-Ks and 10-Qs: net income, plus the depreciation of its property and impairments, less gains on property sales. It reported AFFO of $1.79 a share for Q3 2026.

Price implies
2.0%
Last 10 years, reported
5.2%
Industry median implies
3.3%

The headline discounts the last twelve months’ FFO a share at 9.0% for ten years and grows it 2.5% a year after that, the same for every company, so the figure compares across the market (how a reverse DCF works).

The other way round · DCF
The price needs
2.0% a year for ten years
$131.97
today’s price
Its base case
5.2% a year for five years, then 3.1%
$157.52
19.4% above today’s price

Both are growth in FFO a share, discounted at 9.0%, with 2.5% a year after year ten.

Base case on its own ten-year record Ryman Hospitality Properties, Inc.’s own growth, carried forward

Its assumptions

Powerpack lets you start from a scenario and type over any of them.

The base case’s inputs, which Powerpack lets you change
1 · FFO a share
the four quarters to September 2026, from the 10-Q and 10-K filings

Yearly growth in FFO a share. It usually slows as the company matures.

Today’s price implies FFO a share growing 2.0% a year for ten years.

2 · Rates

Cost of equity is the yearly return shareholders require, typically 8–11%. Terminal growth is growth forever after year 10, usually near long-run inflation, 2–3%.

3 · Per share

The model is a share’s own: no debt to take off and no shares to divide among.

Advanced inputs

Against Ryman Hospitality Properties, Inc.’s own cost of capital: risk-free 4.3% + beta 1.22 × equity premium 4.5% = 9.8% cost of equity; weighted, 9.8%.

Use 9.8%
Base case value per share $157.52 ten years discounted, and what follows
Current price $131.97 market price per share
Above today’s price 19.4% upside at the base case’s assumptions

How we got there$70.20 10 years of FFO+$87.33 terminal value=$157.52 per share

Valuation against its own history

Today’s multiple against its 5- and 10-year averages and the industry median (Reit Hotel & Motel).

Multiple Current 5Y avg 10Y avg vs 10Y avg Industry median vs industry 10Y range
P/E 30.28× 26.46× 24.05× 26% above 28.97× 5% above
P/FCF 41.42× 27.06× 66.08× 37% below 7.89× 425% above
P/B 6.18× 16.40× 13.14× 53% below 1.22× 407% above
EV/EBITDA 14.92× 13.04× 17.22× 13% below 11.96× 25% above
EV/Sales 4.64× 4.02× 5.34× 13% below 2.84× 63% above
P/FFO 15.18× 13.17× 22.73× 33% below — —
P/E P/FCF P/B EV/EBITDA EV/Sales P/FFO
14.92×20.93×26.95×32.96×10Y avg 24.05×201620172018201920222023202420252026

RHP trades at 30.28× P/E, against a 10-year average of 24.05× (range 12.95×–34.25×). That is dearer than 75% of the last 8 year-end readings; re-rating to the average implies $104.81 per share.

Every growth rate on this page is the business’s — its cash flow, FFO or dividend — never its share price’s. A discounted-cash-flow model is only as good as its assumptions. Figures from the 10-K and 10-Q filings. Not investment advice.