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RHP

Ryman Hospitality Properties, Inc.

RHP

Ryman Hospitality Properties, Inc. • NYSE
$95.43 ▼ -0.08% (-0.08)
Market Cap $6.01 B
52w High $121.77
52w Low $76.27
Dividend Yield 4.60%
P/E 25.25
Volume 158.56K
Outstanding Shares 63.00M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $592.458M ▼ $85.849M ▲ $34.886M ▼ 5.888% ▼ $0.54 ▼ $168.401M ▼
Q2-2025 $659.515M ▲ $77.82M ▲ $71.753M ▲ 10.88% ▲ $1.17 ▲ $206.388M ▲
Q1-2025 $587.28M ▼ $74.574M ▲ $62.961M ▼ 10.721% ▲ $1.05 ▼ $185.173M ▼
Q4-2024 $647.633M ▲ $72.816M ▲ $68.766M ▲ 10.618% ▼ $1.15 ▲ $187.124M ▲
Q3-2024 $549.958M $69.645M $59.011M 10.73% $0.99 $174.917M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $483.33M ▲ $6.197B ▲ $4.987B ▲ $758.493M ▼
Q2-2025 $420.579M ▲ $6.111B ▲ $4.867B ▲ $800.43M ▲
Q1-2025 $413.858M ▼ $5.239B ▲ $4.277B ▼ $531.533M ▼
Q4-2024 $477.694M ▼ $5.218B ▲ $4.283B ▲ $548.98M ▼
Q3-2024 $534.931M $5.204B $4.277B $551.876M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $34.886M ▼ $0 ▼ $0 ▲ $0 ▼ $0 ▲ $0 ▼
Q2-2025 $71.753M ▲ $122.5M ▲ $-931.678M ▼ $798.558M ▲ $-10.62M ▲ $122.5M ▲
Q1-2025 $63.014M ▼ $98.219M ▼ $-131.127M ▼ $-81.995M ▼ $-114.903M ▼ $-14.508M ▼
Q4-2024 $72.291M ▲ $166.626M ▼ $-96.978M ▲ $-64.351M ▲ $5.297M ▼ $76.044M ▼
Q3-2024 $60.398M $218.086M $-128.525M $-68.909M $20.652M $85.699M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Entertainment Admissions And Ticketing
Entertainment Admissions And Ticketing
 $40.00M ▲$30.00M ▼$70.00M ▲$30.00M ▼
Entertainment Food And Beverage
Entertainment Food And Beverage
 $40.00M ▲$40.00M ▲$50.00M ▲$30.00M ▼
Entertainment Retail And Other
Entertainment Retail And Other
 $20.00M ▲$30.00M ▲$30.00M ▲$20.00M ▼
Hotel Food And Beverage Banquets
Hotel Food And Beverage Banquets
 $140.00M ▲$190.00M ▲$170.00M ▼$150.00M ▼
Hotel Food And Beverage Outlets
Hotel Food And Beverage Outlets
 $80.00M ▲$70.00M ▼$80.00M ▲$80.00M ▲
Hotel Group Rooms
Hotel Group Rooms
 $110.00M ▲$140.00M ▲$150.00M ▲$130.00M ▼
Hotel Transient Rooms
Hotel Transient Rooms
 $80.00M ▲$40.00M ▼$60.00M ▲$70.00M ▲
Hotel Other
Hotel Other
 $140.00M ▲$60.00M ▼$60.00M ▲$70.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Ryman’s income statement shows a strong recovery story. Sales have grown steadily for several years as group travel, conventions, and entertainment have bounced back from pandemic lows. Profitability has improved even faster than revenue, with operating earnings and cash-style profits both moving solidly into the black after earlier losses. Net income has been positive for three years in a row, although it eased slightly most recently after a very strong prior year. Overall, the business now looks firmly profitable again, with results that reflect both the underlying strength of its assets and the cyclical nature of travel and events.

Balance Sheet

Balance Sheet The balance sheet reflects a capital‑intensive, highly leveraged real estate model. Total assets have grown meaningfully as the company has expanded and upgraded its properties, but this has been funded largely with debt. Borrowings are high relative to equity, which only recently turned clearly positive again after dipping into negative territory earlier in the decade. Cash on hand has improved a lot compared with the early pandemic period but remains modest against the size of the debt load. This structure is typical for large hotel REITs, but it does mean sensitivity to interest rates, credit markets, and sustained demand.

Cash Flow

Cash Flow Cash flow from operations has strengthened year by year, showing that the properties and entertainment assets are generating solid underlying cash. Free cash flow has been consistently positive since the pandemic trough, which is a good sign for the durability of the model. However, the most recent year shows a step up in investment spending on the properties, which absorbs more cash and is consistent with the large capital improvement program. In practical terms, the business appears capable of funding heavy upgrade and expansion projects, but periods of intense investment leave less of a cushion and increase the importance of stable demand and cost control.

Competitive Edge

Competitive Edge Ryman occupies a distinctive niche rather than competing head‑to‑head with typical hotels. It controls several of the largest non‑casino convention resorts in the country, with huge meeting spaces that are expensive and difficult for rivals to replicate. This scale, combined with a focus on group and convention business, creates high switching costs for event planners and provides good visibility into future bookings. The company’s entertainment arm adds another layer: owning iconic country‑music venues and brands that draw fans to its destinations and create cross‑selling opportunities. Partnerships with a major global hotel operator and media‑oriented investors further strengthen distribution and brand reach. The flip side is concentration risk in group travel, big‑box resorts, and the country‑music ecosystem, all of which are sensitive to economic cycles and trends in business travel and leisure preferences.

Innovation and R&D

Innovation and R&D Ryman is not a heavy research and development spender in a traditional sense; its innovation is more about experience design and data‑driven marketing. The company uses advanced customer relationship tools to better understand guests and fans, personalize offers, and tie together its hotels, venues, and entertainment brands. It is also innovating through concept development—expanding themed restaurant‑entertainment brands, adding new venue concepts, and experimenting with content and media partnerships around the country‑music lifestyle. On the property side, the large, multi‑year capital improvement plan aims to keep its resorts and meeting spaces competitive and differentiated. The key question is whether these experiential and physical investments will consistently translate into higher utilization, stronger pricing power, and enduring brand loyalty.

Summary

Overall, Ryman shows the profile of a specialized hospitality REIT that has moved from crisis recovery to expansion mode. Financial performance has improved dramatically since the pandemic, with growing revenue, restored profitability, and healthier cash generation. At the same time, the company carries substantial leverage and is in the middle of a heavy investment cycle, which raises financial sensitivity to downturns, higher rates, or project missteps. Strategically, its combination of large convention resorts, iconic country‑music and entertainment assets, and powerful partnerships gives it a distinctive and hard‑to‑copy position. Future results will likely hinge on the durability of group travel and event demand, the economic environment, and how effectively management converts its sizable capital spending and entertainment initiatives into long‑term, stable cash flows.

NEWS

November 24, 2025 · 5:47 PM UTC

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November 3, 2025 · 4:15 PM UTC

Ryman Hospitality Properties, Inc. Reports Third Quarter 2025 Results

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September 17, 2025 · 4:30 PM UTC

Ryman Hospitality Properties, Inc. Declares Third Quarter Dividend

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