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Ryman
(NYSE:RHP)
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Rating:64Neutral
Price Target:
$134.00
â–²(0.68% Upside)
Action:Reiterated
Date:08/17/26
The score is primarily held back by high leverage and weaker free-cash-flow conversion despite strong current profitability. Offsetting this, the latest earnings call was notably positive with raised guidance and strong forward bookings/ADR trends. Technicals are neutral-to-soft near term, while valuation is supported by the dividend but tempered by a higher P/E; recent financing and the large acquisition improve strategic positioning and liquidity but add dilution and execution risk.
Positive Factors
Forward Group Demand and Pricing
Strong forward bookings and record pricing provide durable visibility into occupancy and revenue. Higher ADR and group spending can support sustained RevPAR growth and property-level cash generation over the next several quarters.
Negative Factors
High Financial Leverage
Heavy leverage limits financial flexibility and increases sensitivity to interest costs, refinancing conditions and lodging downturns. Because group travel is cyclical, weaker demand could pressure covenant capacity, distributions and investment funding.
Read all positive and negative factors
Positive Factors
Negative Factors
Forward Group Demand and Pricing
Strong forward bookings and record pricing provide durable visibility into occupancy and revenue. Higher ADR and group spending can support sustained RevPAR growth and property-level cash generation over the next several quarters.
Read all positive factors
Ryman (RHP) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$8.10B
Dividend Yield3.69%
Average Volume (3M)601.57K
Price to Earnings (P/E)29.8
Beta (1Y)0.59
Revenue Growth12.25%
EPS Growth-0.92%
CountryUS
Employees1,819
SectorReal Estate
Sector Strength53
IndustryREIT - Hotel & Motel
Share Statistics
EPS (TTM)4.32
Shares Outstanding63,119,290
10 Day Avg. Volume472,882
30 Day Avg. Volume601,573
Financial Highlights & Ratios
PEG Ratio-1.82
Price to Book (P/B)7.80
Price to Sales (P/S)2.27
P/FCF Ratio25.17
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$134.33Price Target Upside0.93% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering10
EPS Forecast (FY)4.18
Revenue Forecast (FY)$2.82B
Ryman Business Overview & Revenue Model
Company Description
Ryman Hospitality Properties, Inc. (NYSE: RHP) operates as a prominent real estate investment trust (REIT) in the lodging and hospitality sectors, focusing on high-end convention center properties and a diverse portfolio of country music entertain...
How the Company Makes Money
Ryman makes money primarily through real estate and hospitality-related income tied to its owned properties. A key component is revenue generated by its large convention resort assets (including Gaylord Hotels-branded properties), which earn incom...
Ryman Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 09, 2026
Earnings Call Sentiment Positive
The call highlighted multiple operational and financial positives: RevPAR and adjusted EBITDAre beats, strong group ADR and catering growth, record property-level performance, robust forward bookings and ADR on the books, notable JW portfolio and entertainment momentum, solid liquidity and disciplined cost management. The main negatives were manageable: macroeconomic uncertainty (rates/inflation), limited visibility into certain revenue streams (ICE, Marriott ITR impacts), an ongoing strategic review of OEG that introduces some uncertainty, and an accelerated capex cadence that increases near-term spend. Overall, the positive operational beats, strong booking and pricing trends, and record entertainment results significantly outweigh the limited and manageable headwinds.Positive Updates
RevPAR and Revenue Beats
Same-store RevPAR and total RevPAR growth beat expectations by ~2.5 percentage points each in Q2, driving a top-line-led adjusted EBITDAre outperformance of approximately $7 million versus plan.
Negative Updates
Macroeconomic and Rate Uncertainty
Management continues to monitor uncertainty around interest rates and inflation; guidance assumes a relatively stable operating environment, but macro risks remain a potential headwind to future demand.
Read all updates
Q2-2026 Updates
Positive
Negative
RevPAR and Revenue Beats
Same-store RevPAR and total RevPAR growth beat expectations by ~2.5 percentage points each in Q2, driving a top-line-led adjusted EBITDAre outperformance of approximately $7 million versus plan.
Read all positive updates
Company Guidance
The company raised the midpoints of its guidance (a $10 million increase to same‑store hospitality adjusted EBITDAre at the midpoint, and a $1 million increase to JW Desert Ridge) and described an outlook that assumes a relatively stable operating environment: same‑store RevPAR guidance of low‑to‑mid single‑digit growth in Q3 and mid‑single‑digit in Q4, total revenue growth of low‑to‑mid single digits in each remaining quarter (with stronger growth in Q3), total RevPAR expected to outpace RevPAR in Q3 while RevPAR outpaces total RevPAR in Q4, Q3 delivering the strongest adjusted EBITDAre margin expansion, and entertainment adjusted EBITDAre skewed to Q4; forward business metrics underpinning the outlook include more than 768,000 same‑store gross group room nights booked (+6.7% YoY) with ADR on those bookings ~ $310 (+8.6% YoY, +2.3% vs prior record), same‑store group rooms revenue on the books up 8.8% as of end‑July (120 bps sequential improvement) with ADR on the books pacing mid‑single digits and group rooms revenue for 2027 up 3.2% (2028 down 50 bps), liquidity of nearly $1.3 billion (unrestricted cash $366M, restricted $32M, revolvers undrawn), net leverage ~4.2x, 2026 capex guidance $400–$500M (≈+$50M at midpoint), operating expense midpoint ~3% and a demonstrated flow‑through of ~46% in Q2 (target ~40%) with average wage rate up ~3.8% YoY.Ryman Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
44
Neutral
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.74B | 2.58B | 2.34B | 2.16B | 1.81B | 939.37M |
| Gross Profit | 438.60M | 255.86M | 844.30M | 709.01M | 579.75M | 200.70M |
| EBITDA | 850.83M | 774.00M | 725.64M | 670.70M | 530.75M | 155.86M |
| Net Income | 271.94M | 243.43M | 271.64M | 311.22M | 128.99M | -176.97M |
Balance Sheet | ||||||
| Total Assets | 6.19B | 6.18B | 5.22B | 5.19B | 4.04B | 3.58B |
| Cash, Cash Equivalents and Short-Term Investments | 397.82M | 500.18M | 477.69M | 591.83M | 334.19M | 140.69M |
| Total Debt | 4.13B | 4.29B | 3.51B | 3.51B | 2.99B | 3.05B |
| Total Liabilities | 4.96B | 4.97B | 4.28B | 4.27B | 3.63B | 3.60B |
| Stockholders Equity | 748.32M | 750.15M | 548.98M | 569.15M | 95.28M | -22.23M |
Cash Flow | ||||||
| Free Cash Flow | 274.66M | 232.39M | 168.60M | 350.28M | 330.41M | 89.25M |
| Operating Cash Flow | 691.85M | 590.63M | 576.51M | 557.06M | 419.93M | 111.25M |
| Investing Cash Flow | -413.21M | -1.23B | -410.40M | -1.01B | -189.31M | -289.74M |
| Financing Cash Flow | -331.53M | 567.29M | -290.32M | 711.87M | 50.71M | 261.73M |
Ryman Technical Analysis
Positive
133.09
Price Trends
126.49
Positive
115.48
Positive
104.16
Positive
Market Momentum
-0.42
Positive
54.44
Neutral
82.81
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RHP, the sentiment is Positive. The current price of 133.09 is above the 20-day moving average (MA) of 128.14, above the 50-day MA of 126.49, and above the 200-day MA of 104.16, indicating a bullish trend. The MACD of -0.42 indicates Positive momentum. The RSI at 54.44 is Neutral, neither overbought nor oversold. The STOCH value of 82.81 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for RHP.
Ryman Risk Analysis
Ryman disclosed 50 risk factors in its most recent earnings report. Ryman reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Ryman Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $3.86B | 22.30 | 5.56% | 5.72% | 1.17% | -1.97% | |
70 Outperform | $2.61B | 17.48 | 10.27% | 3.27% | 1.03% | 159.56% | |
70 Outperform | $15.86B | 15.71 | 15.54% | 3.73% | 4.93% | 58.04% | |
67 Neutral | $2.08B | 45.74 | 2.76% | 3.07% | 7.28% | 945.58% | |
66 Neutral | $3.19B | -19.30 | -5.14% | 6.78% | -1.36% | -405.10% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | $8.10B | 29.78 | 40.28% | 3.57% | 12.25% | -0.92% |
* Real Estate Sector Average
RHP
Ryman
128.64
38.30
42.40%
DRH
Diamondrock
12.77
5.05
65.33%
SHO
Sunstone Hotel
11.28
2.51
28.66%
HST
Host Hotels & Resorts
23.09
8.17
54.75%
APLE
Apple Hospitality REIT
16.50
5.06
44.27%
PK
Park Hotels & Resorts
15.82
5.58
54.45%
Ryman Corporate Events
Private Placements and FinancingRegulatory Filings and Compliance
Ryman Hospitality completes major common stock offering
Positive
Aug 12, 2026
On August 10, 2026, Ryman Hospitality Properties, Inc. entered into an underwriting agreement with BofA Securities, Inc. and J.P. Morgan Securities LLC for a registered public offering of 5,100,000 shares of its common stock at $117.00 per share, ...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Ryman Expands with $1.38 Billion Orlando Resort Acquisition
Positive
Aug 10, 2026
On August 10, 2026, Ryman Hospitality Properties agreed to acquire the fee simple interest in the 409-acre Grande Lakes Orlando Resort from Trinity Investments for approximately $1.38 billion, with closing targeted for the third quarter of 2026. T...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.