Ryman Hospitality Properties, Inc. (RHP) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$1.31	$1.36	+3.8%	—	$749M	—
Q1 26	$0.87	$1.1	+26.4%	—	$664.6M	—
Q4 25	$1.21	$1.35	+11.6%	—	$737.8M	—
Q3 25	$0.48	$0.59	+22.9%	—	$592.5M	—
Q2 25	$1.04	$1.16	+11.5%	—	$659.5M	—
Q1 25	$0.63	$1.02	+61.9%	—	$587.3M	—
Q4 24	$1.13	$1.15	+1.8%	—	$647.6M	—
Q3 24	$0.71	$0.98	+38.0%	—	$550M	—
Q2 24	$1.34	$1.66	+23.9%	—	$613.3M	—
Q1 24	$0.67	$0.73	+9.0%	—	$528.3M	—
Q4 23	$1.12	$2.44	+117.9%	—	$633.1M	—
Q3 23	$0.77	$0.64	-16.9%	—	$528.5M	—
Q2 23	$1.23	$1.15	-6.5%	—	$504.8M	—
Q1 23	$0.43	$1.02	+137.2%	—	$491.7M	—
Q4 22	$0.68	$1.03	+51.5%	—	$568.9M	—
Q3 22	$0.73	$0.79	+8.2%	—	$467.8M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$3.94	—	—	$2.6B	—
FY24	—	$4.54	—	—	$2.3B	—
FY23	—	$5.39	—	—	$2.2B	—
FY22	—	$2.34	—	—	$1.8B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$1.1B	$1.2B	$1.3B	$1.6B	$524.5M	$939.4M	$1.8B	$2.2B	$2.3B	$2.6B
YoY change	+5.23%	+3.09%	+7.63%	+25.8%	-67.3%	+79.1%	+92.3%	+19.5%	+8.39%	+10.2%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	1.1B	1.2B	1.3B	1.6B	524.5M	939.4M	1.8B	2.2B	2.3B	2.6B
Cost of revenue	823.9M	849.5M	911.3M	1.1B	579.9M	777.3M	1.3B	1.5B	1.6B	1.8B
Gross profit	325.3M	335.2M	363.8M	484.5M	-55.5M	162.1M	536.8M	666.2M	772.6M	812.1M
Gross margin	28.3%	28.3%	28.5%	30.2%	-10.6%	17.3%	29.7%	30.9%	33%	31.5%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	26.9M	31.4M	30.8M	36.3M	28.8M	38.6M	43M	—	—	—
Operating expenses	53.8M	62.8M	61.7M	72.6M	57.6M	77.9M	86.5M	44.1M	41.8M	42.8M
Operating income	215.4M	223.3M	242.9M	270.7M	-270.5M	-58.3M	328.2M	455M	495.2M	491.2M
Operating margin	18.7%	18.8%	19.1%	16.9%	-51.6%	-6.2%	18.2%	21.1%	21.2%	19.1%
Non-operating income, net	-270K	-42.1M	98M	-4M	-54.7M	-11.9M	-11.8M	-16.9M	-3.7M	-15.6M
Pretax income	162.8M	126.9M	276.4M	146.8M	-433.7M	-189.8M	173.7M	248.1M	294M	254.6M
Income tax	3.4M	-49.2M	11.7M	18.5M	27.1M	5M	38.8M	-93.7M	13.8M	7.3M
Net income	159.4M	176.1M	264.7M	128.3M	-460.8M	-194.8M	134.9M	341.8M	280.2M	247.3M
Net margin	13.9%	14.9%	20.8%	8%	-87.9%	-20.7%	7.47%	15.8%	12%	9.6%
EBITDA	336.5M	340.4M	496M	492.7M	-104M	159.2M	533.3M	674.3M	761.9M	781.1M
EPS	3.12	3.44	5.16	2.82	-7.59	-3.21	2.34	5.39	4.54	3.94
Diluted EPS	3.11	3.43	5.14	2.81	-7.59	-3.21	2.33	5.36	4.38	3.77

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	528.5M	633.1M	528.3M	613.3M	550M	647.6M	587.3M	659.5M	592.5M	737.8M	664.6M	749M
Cost of revenue	368.3M	451.8M	373.6M	376.2M	374.4M	454.3M	396.6M	442.3M	418M	508.1M	439.4M	485.7M
Gross profit	160.2M	181.3M	154.7M	237.1M	175.5M	193.3M	190.7M	217.2M	174.5M	229.7M	225.2M	263.3M
Gross margin	30.3%	28.6%	29.3%	38.7%	31.9%	29.8%	32.5%	32.9%	29.4%	31.1%	33.9%	35.2%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	—	—	—	—	—	—	—	—	—	—	—	—
Operating expenses	10.1M	13.5M	—	9.4M	9.7M	10.7M	10.8M	10.8M	10.1M	11.2M	11.3M	11.2M
Operating income	102.1M	124.8M	97.5M	169.1M	106.8M	121.8M	116.2M	139.5M	91.2M	144.3M	138.2M	175M
Operating margin	19.3%	19.7%	18.5%	27.6%	19.4%	18.8%	19.8%	21.2%	15.4%	19.6%	20.8%	23.4%
Non-operating income, net	-6.7M	-2.2M	-1.3M	-2.7M	1.9M	-1.6M	-211K	-2.8M	-834K	-11.7M	-2.9M	-693K
Pretax income	42.9M	68.8M	43.3M	116.9M	61.3M	72.5M	67.2M	83.7M	30.3M	73.4M	76.3M	114.1M
Income tax	2.2M	-101M	530K	12.2M	922K	184K	4.2M	—	—	—	—	12.1M
Net income	40.8M	169.9M	42.8M	104.7M	60.4M	72.3M	63M	75.9M	34M	74.5M	69.4M	102.1M
Net margin	7.72%	26.8%	8.09%	17.1%	11%	11.2%	10.7%	11.5%	5.73%	10.1%	10.4%	13.6%
EBITDA	159.5M	187.8M	162.6M	234.9M	175.8M	188.5M	185.3M	211.9M	171.4M	212.6M	218.7M	255.5M
EPS	0.69	2.38	0.72	1.68	0.99	1.15	1.05	1.17	0.55	1.17	1.12	1.47
Diluted EPS	0.64	2.37	0.67	1.65	0.94	1.13	1	1.12	0.53	1.11	1.03	1.42

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	3.2B	3.5B	3.4B	4.5B	3.7B	5.1B	4.5B	6.4B	6.2B	5.9B	8.4B
Enterprise value	5.1B	5.3B	6.4B	6.8B	6.5B	8B	7.2B	9.3B	9.3B	9.5B	11.9B
Shares outstanding	51M	51.1M	51.3M	51.6M	55M	55M	55.1M	57.8M	59.9M	61.8M	61.8M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	20.2	20	12.9	34.9	—	—	33.4	18.6	22.3	23.7	29.6
P/S	2.8	2.98	2.68	2.79	7.1	5.39	2.5	2.95	2.67	2.27	3.08
P/B	8.73	9.34	4.52	5.16	11.6	-226.1	11.1	6.92	6.68	4.83	10.2
EV/EBITDA	15.2	15.6	12.9	13.8	-62.9	50.1	13.4	13.7	12.2	12.2	14.2
EV/Sales	4.46	4.49	5	4.22	12.5	8.49	3.97	4.3	3.97	3.69	4.34
Earnings yield	4.96%	4.99%	7.74%	2.87%	—	—	2.99%	5.38%	4.49%	4.23%	3.38%
FCF yield	5.46%	3.21%	3.91%	4.52%	-8.78%	0.23%	7.33%	5.51%	2.7%	3.97%	6.74%
PEG	—	—	—	—	—	—	—	—	—	—	1.15

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	28.3%	28.3%	28.5%	30.2%	-10.6%	17.3%	29.7%	30.9%	33%	31.5%	35.2%
Operating margin	18.7%	18.8%	19.1%	16.9%	-51.6%	-6.2%	18.2%	21.1%	21.2%	19.1%	23.3%
Net margin	13.9%	14.9%	20.8%	8%	-87.9%	-20.7%	7.47%	15.8%	12%	9.6%	9.95%
ROE	43.3%	46.6%	35%	14.8%	-143.7%	869.9%	33.1%	37.2%	30%	20.4%	22.6%
ROA	6.62%	6.98%	6.87%	3.14%	-13%	-5.44%	3.34%	6.59%	5.37%	4%	5.44%
ROIC	9.26%	10.3%	6.26%	7.46%	-8.63%	-2.02%	8.33%	11.9%	11.9%	9.78%	9.78%
Return on tangible assets	6.62%	6.99%	7.34%	3.31%	-13.6%	-5.64%	3.43%	6.75%	5.49%	4.2%	4.73%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.91	1.03	1.35	2.25	1.18	0.73	1.71	1.77	1.5	1.24	1.31
Quick ratio	0.87	1	1.32	2.22	1.15	0.72	1.68	1.74	1.47	1.22	1.34
Debt / equity	5.35	4.89	4.04	3.08	8.95	-136.2	7.33	3.82	3.76	3.41	3.35
Debt / assets	0.82	0.73	0.79	0.65	0.81	0.85	0.74	0.68	0.67	0.67	0.67
Net debt / EBITDA	5.68	5.26	5.96	4.68	-27.1	18.3	4.98	4.32	3.98	4.69	4.39
Interest coverage	3.55	2.92	4.69	2.12	-2.75	-0.51	2.17	2.17	2.3	2.06	2.15
Effective tax rate	2.09%	0%	4.25%	12.6%	0%	0%	22.3%	0%	4.71%	2.88%	2.88%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	22.5	23.2	24.9	31.1	9.54	17.1	32.8	37.4	39.1	41.7	43.4
EPS (basic)	3.12	3.44	5.16	2.82	-7.59	-3.21	2.34	5.39	4.54	3.94	3.94
EPS (diluted)	3.11	3.43	5.14	2.81	-7.59	-3.21	2.33	5.36	4.38	3.77	4.13
Book value per share	7.21	7.39	14.8	16.8	5.84	-0.41	7.39	15.9	15.6	19.6	12
FCF per share	3.44	2.21	2.61	3.92	-5.95	0.21	5.99	6.07	2.82	3.76	4.03
Cash per share	1.16	1.13	2.02	7.02	1.03	2.56	6.06	10.2	7.98	7.62	5.93
Capex per share	2.31	3.57	3.67	2.96	3.01	1.81	1.62	3.58	6.81	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	10.3%	15.4%	14.8%	9.51%	31.5%	10.6%	4.96%	9.58%	17.4%	—	—
Capex / operating cash flow	40.7%	76.4%	46.9%	41.5%	-117.4%	-2.1K%	26.1%	41.5%	72.5%	—	—
Payout ratio	94.9%	91.8%	65.1%	142.9%	-22.2%	-0.26%	4.34%	51.5%	95%	115.5%	115.9%
Dividend yield	4.7%	4.58%	5.04%	4.1%	2.75%	0.01%	0.13%	2.77%	4.26%	4.88%	3.93%

Yield

3.93%

trailing twelve months

Frequency

Quarterly

Last dividend

$1.20

ex-dividend Jun 30, 2026

Payout ratio

116%

of earnings

Dividend growth

3 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jun 30, 2026	$1.20
Mar 31, 2026	$1.20
Dec 31, 2025	$1.20
Sep 30, 2025	$1.15

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$528.5M	$633.1M	$528.3M	$613.3M	$550M	$647.6M	$587.3M	$659.5M	$592.5M	$737.8M	$664.6M	$749M
YoY change	+13%	+11.3%	+7.45%	+21.5%	+4.06%	+2.3%	+11.2%	+7.54%	+7.73%	+13.9%	+13.2%	+13.6%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	59.1M	57.6M	103.4M	362.4M	56.7M	140.7M	334.2M	591.8M	477.7M	471.4M
Receivables	47.8M	57.5M	67.9M	70.8M	20.1M	74.7M	116.8M	110M	94.2M	105.9M
Inventory	8.1M	8.1M	9.8M	10.3M	7.2M	8.4M	12M	14M	16.1M	16.9M
Total current assets	184.4M	229.1M	433.3M	709.6M	241M	363.2M	682.4M	943M	806M	742M
Property, plant & equipment	-400.1M	-374.8M	-229.9M	-301.9M	-345M	-560.3M	-595.4M	-422.6M	-447.4M	-247.2M
Goodwill & intangibles	—	4.3M	246.8M	207.1M	167M	126.8M	106M	124.3M	116.4M	286.7M
Total assets	2.4B	2.5B	3.9B	4.1B	3.6B	3.6B	4B	5.2B	5.2B	6.2B
Accounts payable	32.3M	32.7M	77.6M	40.2M	23.1M	31.7M	38.6M	57M	58.4M	43.4M
Short-term debt	377.1M	161.9M	518.5M	—	106M	190M	—	—	—	—
Total current liabilities	202.6M	221.8M	319.9M	315.6M	204M	495.1M	399.3M	532.7M	538M	596.5M
Long-term debt	1.6B	1.7B	2.5B	2.7B	2.8B	2.9B	3B	3.5B	3.5B	4.1B
Total liabilities	2B	2.1B	3.1B	3.2B	3.2B	3.6B	3.6B	4.3B	4.3B	5B
Shareholders' equity	368M	378.2M	757M	866.2M	320.8M	-22.4M	407.8M	917.9M	934.6M	1.2B
Total debt	2B	1.8B	3.1B	2.7B	2.9B	3.1B	3B	3.5B	3.5B	4.1B
Net debt	1.9B	1.8B	3B	2.3B	2.8B	2.9B	2.7B	2.9B	3B	3.7B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	543.1M	591.8M	465.3M	498.4M	534.9M	477.7M	413.9M	420.6M	483.3M	471.4M	424M	366.1M
Receivables	118.3M	110M	125.6M	127.3M	107.3M	94.2M	133M	132M	111.1M	105.9M	139.3M	122.1M
Inventory	—	14M	—	—	—	16.1M	—	—	—	16.9M	—	—
Total current assets	834.8M	943M	733.1M	739.5M	734.9M	806M	651.1M	640.6M	907.9M	742M	830.8M	784.8M
Property, plant & equipment	-444.5M	-422.6M	-418.7M	-400.7M	-413.2M	-447.4M	-453.9M	-269.4M	-281M	-247.2M	-299.9M	-291.1M
Goodwill & intangibles	126.4M	124.3M	122.3M	120.2M	118.3M	116.4M	183.3M	294.9M	290.8M	286.7M	282.1M	277.6M
Total assets	5.1B	5.2B	5.1B	5.1B	5.2B	5.2B	5.2B	6.1B	6.2B	6.2B	6.2B	6.2B
Accounts payable	438.3M	57M	394.3M	406.2M	472.7M	58.4M	463.2M	435.5M	540.8M	43.4M	544.5M	505.5M
Short-term debt	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	499.6M	532.7M	461.7M	474M	540.7M	538M	534.2M	510.3M	615.8M	596.5M	622.4M	583.8M
Long-term debt	3.5B	3.5B	3.5B	3.5B	3.5B	3.5B	3.5B	4.1B	4.1B	4.1B	4.1B	4.1B
Total liabilities	4.3B	4.3B	4.2B	4.2B	4.3B	4.3B	4.3B	4.9B	5B	5B	5B	5B
Shareholders' equity	810.4M	917.9M	887.3M	928.9M	927.8M	934.6M	962M	1.2B	1.2B	1.2B	1.2B	1.2B
Total debt	3.5B	3.5B	3.5B	3.5B	3.5B	3.5B	3.5B	4.1B	4.1B	4.1B	4.1B	4.1B
Net debt	3B	2.9B	3B	3B	3B	3B	3.1B	3.7B	3.7B	3.7B	3.7B	3.8B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	159.4M	176.1M	264.7M	128.3M	-460.8M	-194.8M	134.9M	341.8M	280.2M	247.3M
Depreciation & amortization	109.8M	112M	120.9M	213.8M	215.1M	220.4M	208.6M	211.2M	235.6M	278.1M
Stock-based compensation	6.1M	6.6M	7.7M	7.8M	8.7M	12.1M	15M	15.4M	13.9M	14.1M
Change in working capital	9.2M	-9.5M	-10M	-7.9M	46.3M	-55.2M	-34.1M	14.9M	12.4M	14.5M
Operating cash flow	289.7M	238.8M	400.9M	367.3M	-140.9M	-4.7M	342.5M	498.2M	562.9M	590.6M
Capital expenditure	-118M	-182.6M	-188.2M	-152.5M	-165.5M	-99.4M	-89.5M	-206.8M	-407.9M	—
Investing cash flow	-179.5M	-213.1M	-420.8M	-149.8M	-172.6M	-289.7M	-189.3M	-1B	-410.4M	-875.7M
Dividends paid	-151.2M	-161.7M	-172.4M	-183.3M	-102.3M	-502K	-5.9M	-176M	-266.1M	-285.6M
Share repurchases	-24.8M	0	0	—	—	—	—	—	—	—
Financing cash flow	-111.5M	-82.9M	171.8M	79.7M	-6.5M	261.7M	50.7M	711.9M	-290.3M	567.3M
Net change in cash	-1.4M	-57.1M	152M	297.1M	-320M	-32.7M	203.9M	197.3M	-137.8M	282.2M
Free cash flow	175.6M	113.3M	133.7M	202.1M	-327M	11.8M	330.4M	350.3M	168.6M	232.4M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	40.8M	169.9M	42.8M	104.7M	60.4M	72.3M	63M	75.9M	34M	74.5M	69.4M	102.1M
Depreciation & amortization	58.1M	56.5M	57.2M	58.6M	59.1M	60.8M	63.7M	67M	73.2M	74.2M	75.7M	77.1M
Stock-based compensation	3.9M	3.9M	3.9M	3.4M	3.5M	3.2M	3.6M	3.5M	3.7M	3.3M	3.8M	3.8M
Change in working capital	-42.9M	25.2M	-19.5M	1K	-2.6M	34.5M	-21.4M	15.7M	-6M	26.2M	-7.6M	-1.1M
Operating cash flow	64.1M	157.5M	86.6M	180.5M	123M	172.9M	114.6M	122.5M	205.2M	164.7M	169.2M	152.7M
Capital expenditure	-44M	-84.6M	-79.4M	-105.5M	-132.4M	-90.6M	-112.7M	—	—	—	—	—
Investing cash flow	-42.7M	-84.6M	-79.3M	-105.6M	-128.5M	-97M	-131.1M	-209K	4.9M	-43K	-411K	-440K
Dividends paid	-60.1M	-60.1M	-67.1M	-66.3M	-66.3M	-66.4M	-70.3M	-69.5M	-72.9M	-72.9M	-77.5M	-76.2M
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-69.6M	-58.1M	-81.8M	-75.3M	-68.9M	-64.4M	-82M	523M	-74.4M	-74.9M	-104.1M	-78.2M
Net change in cash	-48.3M	14.9M	-74.5M	-468K	-74.4M	11.6M	-98.5M	645.3M	135.7M	89.8M	64.8M	74.1M
Free cash flow	110.5M	102.5M	-72M	78.8M	85.7M	76M	-14.5M	53M	135.4M	58.5M	55.6M	25.2M

Date	Ratio
May 31, 1996	1:1
May 31, 1995	1:1
Sep 14, 1993	2:1

Ryman Hospitality Properties, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history