United Parks & Resorts (PRKS) AI Stock Analysis

• Market Cap: $1.89B
• Dividend Yield: N/A
• Average Volume (3M): 1.15M
• Price to Earnings (P/E): 10.3
• Beta (1Y): 0.96
• Revenue Growth: -3.27%
• EPS Growth: -17.93%
• Country: US
• Employees: 3,300
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Leisure
• EPS (TTM): 0.28
• Shares Outstanding: 54,550,610
• 10 Day Avg. Volume: 1,127,816
• 30 Day Avg. Volume: 1,151,381
• PEG Ratio: -0.62
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 1.19
• P/FCF Ratio: 7.53
• Enterprise Value/Market Cap: 2.14
• Enterprise Value/Revenue: 2.42
• Enterprise Value/Gross Profit: 2.62
• Enterprise Value/Ebitda: 7.53
• 1Y Price Target: $42.50
• Price Target Upside: 18.06% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 5
• EPS Forecast (FY): 3.91
• Revenue Forecast (FY): $1.70B

• Rating: 55 Neutral
• Price Target: $37.00 ▲(2.78% Upside)
• Action: Reiterated Date: 02/27/26
• Date: Action: Reiterated 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 cash generation

Sustained positive operating and free cash flow across 2021–2025 provides durable funding for reinvestment, debt reduction, buybacks and capitalization of new attractions. Reliable cash conversion underpins strategic flexibility, though working-cap swings mean conversion variability should be monitored.

Large real estate asset base

A substantial land portfolio creates structural optionality: sale-leasebacks, phased development or selective monetization can unlock value, bolster liquidity and provide non-operating sources of capital to reduce leverage or finance growth without stressing operations.

Pricing power via in-park spend

Rising in-park per-capita spend indicates guests are willing to pay more for food, retail and experiences, supporting revenue and margin resilience even when attendance is flat. Sustained per-cap increases bolster EBITDA and cash flow, helping fund ongoing investments.

Negative Factors

High leverage & negative equity

Persistent elevated debt and negative equity materially weaken the capital base and reduce financial flexibility. High leverage increases refinancing and interest-rate sensitivity, constraining the company's ability to absorb shocks or fund large investments without asset sales or heavy deleveraging.

Weakening top-line trends

Flat-to-declining revenue and lower attendance across recent years indicate slowing demand momentum. Persistent top-line softness limits operating leverage, constrains margin expansion and makes long-term cash flow improvements harder absent sustained recovery in visitation or pricing.

Cost management and SG&A pressure

Rising SG&A and admitted cost control lapses suggest structural inefficiencies that compress margins. Even with a $50M savings target, persistent labor, tax and insurance pressures could keep operating costs elevated and limit durable margin recovery until structural fixes are proven.

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 Busch Gardens theme parks in Tampa, Florida, and Williamsburg, Virginia. The company also operates water park attractions in Orlando, Florida; San Antonio, Texas; San Diego, California; Chula Vista, California; Tampa, Florida; and Williamsburg, Virginia. In addition, it operates a reservations-only theme park in Orlando, Florida and a park in Langhorne, Pennsylvania. The company operates a portfolio of twelve theme parks under the SeaWorld, Busch Gardens, Aquatica, Discovery Cove, Water Country USA, Adventure Island, and Sesame Place brands. The company was formerly known as SeaWorld Entertainment, Inc. and changed its name to United Parks & Resorts Inc. in February 2024. SeaWorld Entertainment, Inc. was founded in 1959 and is headquartered in Orlando, Florida.

How the Company Makes Money

United Parks & Resorts generates revenue through multiple streams, predominantly from ticket sales, which include daily admission and season passes to its parks and attractions. The company also profits from on-site retail operations, including merchandise sales, food and beverage services, and rental services for equipment such as lockers and strollers. Additionally, PRKS earns significant income from hotel accommodations within its resort properties, as well as from partnerships with local businesses and travel agencies that promote package deals. Seasonal events and special attractions further enhance revenue generation, while strategic marketing efforts and loyalty programs help to retain and attract visitors, contributing to a steady flow of earnings.

United Parks & Resorts Financial Statement Overview

Summary

Operating profitability and post-2020 cash generation are solid (strong EBITDA margin and consistently positive OCF/FCF), but results have softened versus 2022–2024 with flat-to-down revenue and lower net income. Balance-sheet risk is the key drag given historically high debt and negative equity, and the 2025 balance-sheet figures appear inconsistent versus prior years.

Income Statement

Profitability is solid in the most recent annual period (2025), with a healthy net margin (~10%) and strong EBITDA margin (~32%), but earnings power has softened versus 2022–2024 (net income down from ~$291M in 2022 to ~$168M in 2025). Revenue has been essentially flat-to-down over the last several years, with a sharp reported decline in 2025 (negative growth rate), which raises questions about top-line momentum. The 2020 loss period highlights cyclical/event risk, though results recovered strongly in 2021–2024.

Balance Sheet

Leverage and equity quality are the key weaknesses. Total debt was very high in 2021–2024 (roughly ~$2.2–$2.36B) while stockholders’ equity is negative across 2020–2024, indicating an impaired capital base and limited balance-sheet cushion. Total assets are relatively stable (~$2.3–$2.6B), but negative equity and consistently elevated debt levels increase financial risk and reduce flexibility. The 2025 balance sheet shows total debt and equity reported as zero, which appears inconsistent with prior years and limits confidence in the latest balance-sheet read-through.

Cash Flow

Cash generation is a clear strength post-2020. Operating cash flow has been consistently positive and sizable from 2021–2025 (about ~$380M–$565M), supporting ongoing operations and reinvestment. Free cash flow is also positive each year from 2021–2025 (about ~$200M–$374M), with a strong improvement reported in 2025 (free cash flow up meaningfully versus 2024). A watch-out is conversion: free cash flow is less than net income in recent years (e.g., ~69% in 2025 and ~48% in 2024), suggesting working-capital swings, capex intensity, or other cash uses can meaningfully impact cash available to shareholders/deleveraging.

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	0.00	2.36B	2.22B	2.23B	2.24B
Total Liabilities	0.00	3.04B	2.83B	2.76B	2.64B
Stockholders Equity	0.00	-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

• Technical Analysis Sentiment: Negative
• Last Price: 36.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PRKS, the sentiment is Negative. The current price of 36 is above the 20-day moving average (MA) of 35.81, below the 50-day MA of 36.27, and below the 200-day MA of 44.12, indicating a bearish trend. The MACD of -0.71 indicates Positive momentum. The RSI at 40.61 is Neutral, neither overbought nor oversold. The STOCH value of 26.65 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PRKS.

United Parks & Resorts Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
OSW	72 Outperform	$2.22B	31.66	13.53%	0.79%	7.27%	45.12%
LTH	65 Neutral	$6.14B	15.98	13.03%	―	15.77%	86.16%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
PRKS	55 Neutral	$1.89B	10.34	―	―	-3.27%	-17.93%
LUCK	51 Neutral	$1.16B	-12.42	―	2.51%	3.88%	34.36%
XPOF	49 Neutral	$401.27M	-5.00	―	―	-3.55%	-111.90%

United Parks & Resorts Corporate Events

United Parks & Resorts Faces Weaker Results, Plans 2026 Investments

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 operating days and weather volatility. Despite the softer performance, the company posted record in-park per capita spending, repurchased about 12% of its shares between 2025 and February 24, 2026, highlighted a strong slate of awards for its parks, and outlined a 2026 slate of new rides, upgraded habitats and enhanced events designed to drive attendance, boost guest spending and improve cost efficiency, signaling a bid to reinforce its competitive position while continuing to return capital to shareholders.

The most recent analyst rating on (PRKS) stock is a Hold with a $48.00 price target. To see the full list of analyst forecasts on United Parks & Resorts stock, see the PRKS Stock Forecast page.

United Parks & Resorts realigns non-Florida park leadership

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 management responsibilities across the company’s park portfolio outside Florida, with potential implications for how those operations are overseen and managed going forward.

The most recent analyst rating on (PRKS) stock is a Hold with a $35.08 price target. To see the full list of analyst forecasts on United Parks & Resorts stock, see the PRKS Stock Forecast page.

United Parks & Resorts Awards CEO Multi-Year RSU Grant

On December 15, 2025, United Parks & Resorts Inc.’s Compensation Committee approved a grant of restricted stock units with a total grant date fair value of $4 million to Chief Executive Officer Marc Swanson, under the company’s 2025 Omnibus Incentive Plan. The RSUs vest in tranches between December 31, 2025, and December 31, 2029, and are conditioned on Swanson’s continued service as CEO, underscoring the board’s focus on long-term executive retention and alignment of leadership incentives with shareholder value over a multi-year horizon.

The most recent analyst rating on (PRKS) stock is a Hold with a $35.08 price target. To see the full list of analyst forecasts on United Parks & Resorts stock, see the PRKS Stock Forecast page.