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United Parks & Resorts
(NYSE:PRKS)
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Rating:55Neutral
Price Target:
$47.00
▲(4.84% Upside)
Action:Reiterated
Date:08/04/26
The score is held back primarily by elevated balance-sheet risk (high debt with negative equity) and pressured near-term operating trends discussed on the earnings call (declining revenue/attendance and lower profitability). Offsetting these are solid cash generation, a generally supportive intermediate price trend, and a reasonable (not bargain) P/E.
Positive Factors
Cash generation
Consistent positive operating cash flow (~$421M TTM) and meaningful free cash flow (~$291M TTM) provide durable internal funding for maintenance CapEx, growth ROI projects, and opportunistic capital return. This reduces reliance on external financing over the next several quarters.
Negative Factors
High leverage & negative equity
A highly levered capital structure with ~ $2.39B debt and persistent negative shareholders’ equity materially reduces financial flexibility. It heightens refinancing, covenant and credit risk, and limits the company’s capacity to absorb prolonged demand weakness or fund large discretionary investments without external support.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Consistent positive operating cash flow (~$421M TTM) and meaningful free cash flow (~$291M TTM) provide durable internal funding for maintenance CapEx, growth ROI projects, and opportunistic capital return. This reduces reliance on external financing over the next several quarters.
Read all positive factors
United Parks & Resorts (PRKS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.10B
Dividend YieldN/A
Average Volume (3M)1.14M
Price to Earnings (P/E)16.7
Beta (1Y)1.10
Revenue Growth-3.55%
EPS Growth-29.18%
CountryUS
Employees3,300
SectorConsumer Cyclical
Sector Strength84
IndustryLeisure
Share Statistics
EPS (TTM)2.68
Shares Outstanding47,135,530
10 Day Avg. Volume1,051,680
30 Day Avg. Volume1,137,210
Financial Highlights & Ratios
PEG Ratio-0.61
Price to Book (P/B)-4.55
Price to Sales (P/S)1.19
P/FCF Ratio7.53
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
$47.56Price Target Upside6.08% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering13
EPS Forecast (FY)3.49
Revenue Forecast (FY)$1.68B
United Parks & Resorts Business Overview & Revenue Model
Company Description
United Parks & Resorts Inc., along with its various subsidiaries, functions as a leading theme park and entertainment enterprise within the United States. The company's extensive array of attractions includes prominent SeaWorld theme parks located...
How the Company Makes Money
PRKS generates revenue primarily from operating its theme and entertainment parks. Key revenue streams include: (1) Admissions and access products: Revenue from single-day tickets, multi-park tickets, annual passes/memberships, and other admission...
United Parks & Resorts Earnings Call Summary
Earnings Call Date:Aug 04, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Neutral
The call mixed positive operational progress (record in‑park per cap growth, strong liquidity, active share repurchases, sponsorship and IP partnerships, and on‑track cost savings) against notable near‑term financial headwinds (declines in attendance, revenue, adjusted EBITDA and net income, weather impacts, marketing execution issues and recurring addbacks). Management highlighted concrete strategic responses (new pass team, marketing changes, ROIC investments, real estate interest) and expressed confidence in the long‑term outlook, but near‑term results remain pressured by calendar shifts, lower international visitation and weather.Positive Updates
Record In‑Park Per Capita Spending
In‑park per capita spending increased 5.1% in Q2 2026 versus prior year and was a record for the quarter; total revenue per capita rose 1.5%.
Negative Updates
Revenue Decline in Q2 and H1
Total revenue for Q2 2026 was $483.3 million, down $6.9 million or 1.4% YoY. First half 2026 total revenue was $761.6 million, down $15.5 million or 2.0% versus H1 2025.
Read all updates
Q2-2026 Updates
Positive
Negative
Record In‑Park Per Capita Spending
In‑park per capita spending increased 5.1% in Q2 2026 versus prior year and was a record for the quarter; total revenue per capita rose 1.5%.
Read all positive updates
Company Guidance
Management reiterated a 2026 operating and capital framework that includes a $50 million gross cost‑savings target for 2026, expected sponsorship revenue of over $15 million in 2026 (with sponsorship targeted to be at least a $30 million line in coming years), and CapEx guidance of roughly $180–$190 million of core CapEx plus $75–$85 million of growth/ROI CapEx (Q2 CapEx was ~$68.6M, split ≈$65.3M core / $3.2M expansion). They reported total available liquidity of ≈$658M (including ≈$19M cash as of 6/30/26), deferred revenue of $211.9M (up ~2% YoY), a paid pass base down ~1% through June but a plan to grow passes meaningfully in 2027, and continued opportunistic capital allocation including buybacks (Q2 repurchases ~3.3M shares for ≈$125M; H1 repurchases ~5.9M shares, ~12.1% of shares outstanding, for ≈$217.7M). Near‑term operating results and trends noted: Q2 total revenue $483.3M (‑1.4% YoY), attendance down ~179k (‑2.9%) but flat ex the Easter timing shift and international declines, total revenue per capita +1.5% (admission per capita ‑1.8%, in‑park per capita +5.1%), adjusted EBITDA $195.5M (‑$10.8M YoY), H1 total revenue $761.6M (‑2%), H1 adjusted EBITDA $253.4M (‑$20.3M), H1 net income $29.2M (‑$34.8M), and a preliminary view that July revenue was down ≈2%.United Parks & Resorts Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
24
Negative
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.65B | 1.66B | 1.73B | 1.73B | 1.73B | 1.50B |
| Gross Profit | 1.08B | 606.54M | 1.59B | 1.59B | 1.60B | 1.39B |
| EBITDA | 513.35M | 535.15M | 622.73M | 613.98M | 660.19M | 521.65M |
| Net Income | 150.42M | 168.35M | 227.50M | 234.20M | 291.19M | 256.51M |
Balance Sheet | ||||||
| Total Assets | 2.61B | 2.62B | 2.57B | 2.63B | 2.33B | 2.61B |
| Cash, Cash Equivalents and Short-Term Investments | 28.94M | 99.76M | 115.89M | 246.92M | 79.20M | 443.71M |
| Total Debt | 2.39B | 2.35B | 2.36B | 2.22B | 2.23B | 2.24B |
| Total Liabilities | 3.16B | 3.05B | 3.04B | 2.83B | 2.76B | 2.64B |
| Stockholders Equity | -557.23M | -435.81M | -461.54M | -208.22M | -437.66M | -33.92M |
Cash Flow | ||||||
| Free Cash Flow | 291.47M | 263.12M | 231.71M | 200.08M | 363.88M | 374.16M |
| Operating Cash Flow | 421.17M | 380.08M | 480.14M | 504.92M | 564.59M | 503.01M |
| Investing Cash Flow | -230.22M | -217.49M | -248.50M | -305.61M | -200.71M | -128.85M |
| Financing Cash Flow | -237.67M | -178.73M | -362.66M | -34.71M | -726.05M | -364.90M |
United Parks & Resorts Technical Analysis
Positive
44.83
Price Trends
44.72
Positive
39.53
Positive
38.60
Positive
Market Momentum
0.19
Positive
53.21
Neutral
43.87
Neutral
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 44.83 is below the 20-day moving average (MA) of 45.82, above the 50-day MA of 44.72, and above the 200-day MA of 38.60, indicating a bullish trend. The MACD of 0.19 indicates Positive momentum. The RSI at 53.21 is Neutral, neither overbought nor oversold. The STOCH value of 43.87 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | $10.08B | 23.99 | 13.14% | ― | 12.69% | 75.05% | |
73 Outperform | $2.61B | 32.20 | 14.68% | 0.72% | 9.82% | 15.96% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
55 Neutral | $2.10B | 16.65 | -35.46% | ― | -3.55% | -29.18% | |
52 Neutral | $1.05B | -10.28 | 46.90% | 3.42% | 4.94% | -960.10% | |
44 Neutral | $289.91M | -4.72 | 14.36% | ― | -5.80% | 32.11% |
* Consumer Cyclical Sector Average
PRKS
United Parks & Resorts
46.17
0.01
0.02%
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26.60
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XPOF
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LTH
Life Time Group Holdings
44.73
17.74
65.73%
United Parks & Resorts Corporate Events
Executive/Board ChangesShareholder Meetings
United Parks Shareholders Approve Directors and Governance Measures
Positive
Jun 23, 2026
United Parks Resorts Inc. held its 2026 Annual Meeting of Stockholders on June 16, 2026, where shareholders elected ten directors, including James Chambers, Aayushi Dalal, William Gray, Timothy Hartnett, Nathaniel Lipman, Yoshikazu Maruyama, Thom...
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.