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United Parks & Resorts
(NYSE:PRKS)
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Rating:62Neutral
Price Target:
$49.00
▲(35.85% Upside)
Action:Reiterated
Date:06/24/26
The score is held back primarily by financial risk from high leverage and negative equity, alongside the recent revenue/earnings step-down despite solid margins and strong free cash flow. Technicals are a meaningful positive with the stock trading above key moving averages and strong momentum indicators. Valuation appears reasonable at ~17x earnings, and the earnings call provided supportive 2026 guidance and improving forward booking/pass indicators, but near-term performance headwinds and liquidity sensitivity temper the upside.
Positive Factors
Strong free cash flow
Consistent TTM operating cash flow (~$421M) and free cash flow (~$291M) create durable internal funding for core CapEx, marketing and attraction investment, and debt service. Reliable FCF supports strategic flexibility, share repurchases, and cushions seasonality over multiple quarters.
Negative Factors
High leverage and negative equity
A roughly $2.39B debt load and negative shareholders' equity materially constrain financial flexibility. Elevated leverage increases refinancing and interest expense risk, limits room for strategic investments or acquisitions, and raises the company’s vulnerability to revenue shocks or higher interest rates.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong free cash flow
Consistent TTM operating cash flow (~$421M) and free cash flow (~$291M) create durable internal funding for core CapEx, marketing and attraction investment, and debt service. Reliable FCF supports strategic flexibility, share repurchases, and cushions seasonality over multiple quarters.
Read all positive factors
United Parks & Resorts (PRKS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.15B
Dividend YieldN/A
Average Volume (3M)1.14M
Price to Earnings (P/E)17.0
Beta (1Y)1.09
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 Cap2.10
Enterprise Value/Revenue2.73
Enterprise Value/Gross Profit4.18
Enterprise Value/Ebitda8.81
Forecast
1Y Price Target
$43.13Price Target Upside19.56% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering11
EPS Forecast (FY)3.54
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:May 11, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Neutral
The call presented a mix of constructive forward indicators (record in‑park spend, strong paid pass growth, deferred revenue improvement, active sponsorship and real‑estate processes, continued buybacks, technology and marketing investments) alongside meaningful short‑term headwinds (Q1 revenue decline, wider net loss, lower EBITDA, attendance disruption from weather and international weakness, and certain non‑cash/one‑time expense pressures). Management emphasized confidence in the remainder of 2026 due to an event/attraction lineup, marketing changes, and cost‑savings plans, but near‑term financial results remain challenged and dependent on weather and international tourism recovery.Positive Updates
Record In‑Park Per Capita Spending
In‑park per capita spending increased 5.3% year‑over‑year to a record $40.62, contributing to a 2.1% increase in total revenue per capita.
Negative Updates
Revenue Decline in Q1
Total revenue for Q1 was $278.3 million, a decrease of $8.7 million versus 2025.
Read all updates
Q1-2026 Updates
Positive
Negative
Record In‑Park Per Capita Spending
In‑park per capita spending increased 5.3% year‑over‑year to a record $40.62, contributing to a 2.1% increase in total revenue per capita.
Read all positive updates
Company Guidance
Management reiterated guidance that they expect 2026 to deliver growth in revenue and adjusted EBITDA, supported by new rides/shows, a revamped marketing plan and improving forward indicators: paid pass sales were up ~10% in Q1 and ~12% through 4/30/2026, deferred revenue was $203.8M (up ~4.1% YoY), and Discovery Cove and group bookings are outpacing 2025 with Discovery Cove bookings up a double‑digit percentage. Key financial and capital targets include a $50M gross cost‑savings target for 2026, core CapEx guidance of $105M–$200M plus about $50M of growth/ROI CapEx, and continued share repurchases (2.6M shares for ~$92.7M in Q1 and a subsequent 1.8M for ~$64.8M, with ~$198M remaining under the $500M authorization); they also expect to realize >$15M of sponsorship revenue in 2026 (with sponsorships targeted to be a ≥$30M line of business over time). Management noted current Q1 operating metrics—total revenue $278.3M (down $8.7M YoY), adjusted EBITDA $58.0M (down $9.5M), net loss $34.1M, attendance down ~171k (but would be >1% higher adjusted for ~140k weather and ~80k international impacts), and record in‑park per cap of $40.62 (up 5.3%)—said they are comfortable with current leverage and will allocate capital opportunistically to maximize shareholder value.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
Neutral
36.07
Price Trends
40.99
Positive
37.48
Positive
39.21
Positive
Market Momentum
1.56
Positive
54.07
Neutral
24.91
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PRKS, the sentiment is Neutral. The current price of 36.07 is below the 20-day moving average (MA) of 46.44, below the 50-day MA of 40.99, and below the 200-day MA of 39.21, indicating a neutral trend. The MACD of 1.56 indicates Positive momentum. The RSI at 54.07 is Neutral, neither overbought nor oversold. The STOCH value of 24.91 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 | $2.67B | 34.91 | 14.09% | 0.79% | 9.47% | 18.45% | |
70 Outperform | $9.24B | 23.68 | 12.64% | ― | 12.73% | 73.50% | |
62 Neutral | $2.15B | 17.03 | -35.46% | ― | -3.55% | -29.18% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
52 Neutral | $1.10B | -10.99 | 46.90% | 2.51% | 4.94% | -960.10% | |
44 Neutral | $301.47M | -4.97 | 14.36% | ― | -5.80% | 32.11% |
* Consumer Cyclical Sector Average
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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.