United Parks & Resorts (PRKS)
NYSE:PRKS
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United Parks & Resorts
(NYSE:PRKS)
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Rating:55Neutral
Price Target:
$32.00
▼(-14.28% Downside)
Action:ReiteratedDate:02/27/26
The score is held back most by balance-sheet risk and weakening recent fundamentals (revenue/attendance declines), alongside a technically weak trend. Offsetting factors include durable operating cash generation, a reasonably low P/E, and cautiously positive 2026 initiatives and demand indicators discussed on the earnings call.
Positive Factors
Consistent operating cash generation
Sustained, sizable operating cash flow and positive free cash flow across 2021–2025 provide durable funding for core operations, capex, buybacks and liquidity needs. This cash generation underpins the company’s ability to invest in attractions and execute deleveraging or shareholder returns over the next several quarters.
Negative Factors
Elevated leverage and impaired equity
Historically high debt and negative equity materially constrain financial flexibility, increase refinancing and interest‑rate risk, and reduce the company’s ability to absorb demand shocks. This structural balance‑sheet weakness limits room for sustained growth investments unless cash generation is redirected to deleveraging.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent operating cash generation
Sustained, sizable operating cash flow and positive free cash flow across 2021–2025 provide durable funding for core operations, capex, buybacks and liquidity needs. This cash generation underpins the company’s ability to invest in attractions and execute deleveraging or shareholder returns over the next several quarters.
Read all positive factors
United Parks & Resorts (PRKS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.82B
Dividend YieldN/A
Average Volume (3M)896.20K
Price to Earnings (P/E)11.8
Beta (1Y)1.08
Revenue Growth-3.27%
EPS Growth-17.93%
CountryUS
Employees3,300
SectorConsumer Cyclical
Sector Strength84
IndustryLeisure
Share Statistics
EPS (TTM)0.28
Shares Outstanding48,626,293
10 Day Avg. Volume855,656
30 Day Avg. Volume896,195
Financial Highlights & Ratios
PEG Ratio-0.62
Price to Book (P/B)-4.55
Price to Sales (P/S)1.19
P/FCF Ratio7.53
Enterprise Value/Market Cap2.34
Enterprise Value/Revenue2.56
Enterprise Value/Gross Profit2.77
Enterprise Value/Ebitda7.94
Forecast
1Y Price Target
$42.89Price Target Upside14.89% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering10
EPS Forecast (FY)3.84
Revenue Forecast (FY)$1.69B
United Parks & Resorts Business Overview & Revenue Model
Company Description
United Parks & Resorts Inc., together with its subsidiaries, operates as a theme park and entertainment company in the United States. It operates SeaWorld theme parks in Orlando, Florida; San Antonio, Texas; and San Diego, California, as well as B...
How the Company Makes Money
PRKS primarily generates revenue by monetizing attendance and guest spending across its parks and related assets. Key revenue streams include: (1) Admissions and ticketing: sales of single-day tickets and other admission products, as well as produ...
United Parks & Resorts Earnings Call Summary
Earnings Call Date:Feb 26, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 30, 2026
Earnings Call Sentiment Neutral
The call presented a mixed picture: management acknowledged that fiscal 2025 fell short of expectations due to international visitation headwinds, weather and cost management issues, and showed declines in revenue, attendance and admissions per cap. Offsetting these items, the company emphasized a strong balance sheet and liquidity, significant share buybacks, record in‑park per capita spending, a focused $50M cost‑savings program, an attractive real estate portfolio with monetization options, robust planned 2026 product investments and early positive demand signals (Discovery Cove and group bookings). Given the balance between material near‑term challenges and clear strategic/financial strengths and initiatives, the overall tone is cautiously constructive but not decisively bullish.Positive Updates
Balance Sheet Strength & Share Buybacks
Net total leverage of 3.4x (Dec 31, 2025) with approximately $789M total available liquidity, including ~$100M cash on hand; repurchased 6.7M shares (~12% of shares outstanding) through Feb 24, 2026, underscoring strong cash flow generation and capital return priorities.
Negative Updates
Revenue Declines
Q4 2025 total revenue of $373.5M, down $10.8M or 2.8% vs. Q4 2024. Fiscal 2025 total revenue $1.66B, down $62.7M or 3.6% year‑over‑year.
Read all updates
Q4-2025 Updates
Positive
Negative
Balance Sheet Strength & Share Buybacks
Net total leverage of 3.4x (Dec 31, 2025) with approximately $789M total available liquidity, including ~$100M cash on hand; repurchased 6.7M shares (~12% of shares outstanding) through Feb 24, 2026, underscoring strong cash flow generation and capital return priorities.
Read all positive updates
Company Guidance
Management gave no formal numeric guidance but outlined 2026 expectations and early indicators: Discovery Cove advanced bookings are up high single‑digits, company‑wide group bookings are pacing >50%, the sponsorship pipeline is $15M+ for 2026 with a $30M+ longer‑term revenue opportunity, and management is targeting $50M of gross cost reductions; they emphasized record in‑park per‑cap spending in Q4 even as Q4 total revenue was $373.5M (‑2.8% y/y), Q4 attendance fell ~126,000 guests (‑2.6%), Q4 adjusted EBITDA was $115.2M (FY adjusted EBITDA $605.1M), FY total revenue was $1.66B (‑3.6%), FY attendance was 21.2M (‑1.8%), Q4 admissions per cap ‑2.2% vs. in‑park per cap +2.1%, deferred revenue was $143.3M (‑4.7% y/y, improved to ‑1.4% by end‑January), pass base was down ~4% through Dec, 2025 CapEx was ~$217.5M (core ~$182.4M, expansion ~$35.1M) with 2026 planned at ~ $175M core / $50M growth, net total leverage was 3.4x with ~$789M total available liquidity and ~$100M cash on hand, and the company repurchased 6.7M shares (~12% of shares outstanding) through Feb 24, 2026; management said these factors, plus new rides, events, marketing and operational discipline, position them to grow attendance, per‑cap spend and profitability in 2026 but did not provide formal forward guidance.United Parks & Resorts Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
38
Negative
Cash Flow
72
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.66B | 1.73B | 1.73B | 1.73B | 1.50B |
| Gross Profit | 1.53B | 1.59B | 1.59B | 1.60B | 1.39B |
| EBITDA | 535.15M | 622.73M | 613.98M | 660.19M | 521.65M |
| Net Income | 168.35M | 227.50M | 234.20M | 291.19M | 256.51M |
Balance Sheet | |||||
| Total Assets | 2.62B | 2.57B | 2.63B | 2.33B | 2.61B |
| Cash, Cash Equivalents and Short-Term Investments | 99.76M | 115.89M | 246.92M | 79.20M | 443.71M |
| Total Debt | 2.35B | 2.36B | 2.22B | 2.23B | 2.24B |
| Total Liabilities | 3.05B | 3.04B | 2.83B | 2.76B | 2.64B |
| Stockholders Equity | -435.81M | -461.54M | -208.22M | -437.66M | -33.92M |
Cash Flow | |||||
| Free Cash Flow | 263.12M | 231.71M | 200.08M | 363.88M | 374.16M |
| Operating Cash Flow | 380.08M | 480.14M | 504.92M | 564.59M | 503.01M |
| Investing Cash Flow | -217.49M | -248.50M | -305.61M | -200.71M | -128.85M |
| Financing Cash Flow | -178.73M | -362.66M | -34.71M | -726.05M | -364.90M |
United Parks & Resorts Technical Analysis
Positive
37.33
Price Trends
34.13
Positive
34.96
Positive
42.26
Negative
Market Momentum
0.61
Negative
66.69
Neutral
91.62
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PRKS, the sentiment is Positive. The current price of 37.33 is above the 20-day moving average (MA) of 32.73, above the 50-day MA of 34.13, and below the 200-day MA of 42.26, indicating a neutral trend. The MACD of 0.61 indicates Negative momentum. The RSI at 66.69 is Neutral, neither overbought nor oversold. The STOCH value of 91.62 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PRKS.
United Parks & Resorts Risk Analysis
United Parks & Resorts disclosed 47 risk factors in its most recent earnings report. United Parks & Resorts 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
United Parks & Resorts Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $2.47B | 29.88 | 13.18% | 0.79% | 7.27% | 45.12% | |
65 Neutral | $6.20B | 15.51 | 12.76% | ― | 15.77% | 86.16% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
55 Neutral | $1.82B | 11.77 | -41.63% | ― | -3.27% | -17.93% | |
51 Neutral | $1.17B | -24.17 | 60.90% | 2.51% | 3.88% | 34.36% | |
47 Neutral | $372.21M | -2.45 | ― | ― | -3.55% | -111.90% |
* Consumer Cyclical Sector Average
PRKS
United Parks & Resorts
37.33
-5.35
-12.54%
OSW
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24.37
7.31
42.87%
LUCK
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8.50
-0.26
-2.98%
XPOF
Xponential Fitness
7.60
0.13
1.74%
LTH
Life Time Group Holdings
27.95
-3.90
-12.24%
United Parks & Resorts Corporate Events
Business Operations and StrategyStock BuybackFinancial Disclosures
United Parks & Resorts Faces Weaker Results, Plans 2026 Investments
Negative
Feb 26, 2026
On February 26, 2026, United Parks Resorts reported weaker results for the fourth quarter and fiscal 2025, with attendance, revenue, net income and adjusted EBITDA all declining year over year, pressured by lower international tourism, fewer oper...
Business Operations and StrategyExecutive/Board Changes
United Parks & Resorts realigns non-Florida park leadership
Neutral
Jan 6, 2026
On January 1, 2026, United Parks Resorts Inc. reassigned Byron Surrett from his position as Chief Park Operations Officer for Non-Florida Parks to another role within the company. The internal leadership change suggests a realignment of managemen...
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.