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United Parks & Resorts (PRKS)
NYSE:PRKS
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United Parks & Resorts
(NYSE:PRKS)
Rating:66Neutral
Price Target:
$53.00
▲(5.49% Upside)
Positive Factors
Attendance Growth
Attendance growth is tracking ahead of expectations with a +1-3% year-to-date increase.
Stock Buyback
A new $500M buyback has been announced, subject to approval.
Negative Factors
Competition
Competition from Epic Universe remains a risk.
Pricing Power
Promotional activity weighed on admissions pricing, driving 2Q revenue decline despite attendance growth in-line with recent downward revision.
United Parks & Resorts (PRKS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.67B
Dividend YieldN/A
Average Volume (3M)790.38K
Price to Earnings (P/E)13.0
Beta (1Y)0.92
Revenue Growth-1.43%
EPS Growth-2.50%
CountryUS
Employees3,300
SectorConsumer Cyclical
Sector Strength71
IndustryLeisure
Share Statistics
EPS (TTM)1.45
Shares Outstanding55,013,897
10 Day Avg. Volume1,002,851
30 Day Avg. Volume790,378
Financial Highlights & Ratios
PEG Ratio3.36
Price to Book (P/B)-7.25
Price to Sales (P/S)1.94
P/FCF Ratio14.44
Enterprise Value/Market Cap1.79
Enterprise Value/Revenue2.78
Enterprise Value/Gross Profit3.53
Enterprise Value/Ebitda7.70
Forecast
1Y Price Target
$55.25Price Target Upside9.97% Upside
Rating ConsensusHold
Number of Analyst Covering9
United Parks & Resorts Business Overview & Revenue Model
Company DescriptionUnited 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 MoneyUnited Parks & Resorts generates revenue through multiple streams including ticket sales for park admissions, seasonal passes, and group sales. Additional revenue comes from food and beverage sales, merchandise retail, and accommodations at their resorts. The company also partners with local businesses and tourism boards to drive traffic to their parks, while leveraging sponsorships and advertising agreements within their facilities. Special events and seasonal attractions, such as holiday celebrations and concerts, further contribute to their earnings, enhancing the overall guest experience and attracting a broader audience.
United Parks & Resorts Earnings Call Summary
Earnings Call Date:Aug 07, 2025
(Q2-2025)
| % Change Since: 8.84%|
Next Earnings Date:Nov 06, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted some positive trends in attendance and forward bookings, strong liquidity, and strategic initiatives like share repurchase and international expansion. However, these were balanced by challenges such as decreased revenue, increased operating expenses, and declining deferred revenues, leading to a mixed overall picture.Q2-2025 Updates
Positive Updates
Increase in Attendance and Visitation
Attendance increased by approximately 48,000 guests or 0.8% compared to the prior year quarter, with growth in International and Group visitation.
Positive Forward-Booking Trends
Forward-booking trends for Group business and Discovery Cove are up mid- to high single digits for the remainder of the year and 2026 bookings are also showing strong trends.
Strong Financial Position
Net total leverage ratio is 3.0x with approximately $883 million of total available liquidity, including $194 million of cash.
Share Repurchase Program
Announcement of a new $500 million share repurchase program, indicating confidence in the undervaluation of the company's shares.
Sponsorship and International Opportunities
Projections of up to $20 million in annual sponsorship revenue and expectations to sign 2 MOUs for international partnerships by the end of the year.
Negative Updates
Decrease in Total Revenue
Total revenue decreased by $7.4 million or 1.5% compared to the second quarter of 2024, primarily due to decreases in per capita spending.
Challenges with Costs and Expenses
Operating expenses increased by $14.6 million or 7.7% due to a $9.6 million increase in noncash self-insurance adjustments and issues with managing labor and operating expenses in poor weather.
Decrease in Deferred Revenue
Deferred revenue decreased by approximately $22.7 million compared to June 2024, partly due to a different mix of products and a downtrend in pass sales.
Company Guidance
During the United Parks & Resorts second quarter 2025 earnings call, several key metrics and forward-looking statements were discussed. Attendance increased by 0.8% compared to the previous year, despite adverse weather conditions. Total revenue for the quarter was $490.2 million, a 1.5% decrease, primarily due to a drop in admissions per capita by 3.9% and a slight decline in in-park per capita spending by 0.4%. The net income was reported at $80.1 million, down from $91.1 million in the same period last year, while adjusted EBITDA was $206.3 million, a decrease of $11.9 million. The company has a strong balance sheet with a net total leverage ratio of 3.0x and $883 million in total available liquidity. Looking forward, United Parks & Resorts anticipates mid- to high-single-digit growth in group and Discovery Cove bookings for the remainder of the year and into 2026. Additionally, they announced a new $500 million share repurchase program and a cost reduction plan expected to save up to $15 million in the latter half of the year. The company continues to focus on strategic initiatives, including sponsorship opportunities, international expansion, and digital transformation efforts, such as enhancing their mobile app, which has seen a 35% increase in transaction value for food and beverage purchases.United Parks & Resorts Financial Statement Overview
Summary
United Parks & Resorts shows strong operational performance with efficient cost management, but faces challenges with a highly leveraged balance sheet and negative equity, indicating financial distress. Cash flow generation remains solid, but the decrease in free cash flow highlights potential pressures.Income Statement
United Parks & Resorts shows moderately stable revenue with a slight decline in the TTM period. Gross profit margin is robust at 78.9%, indicating efficient cost management. However, net profit margin dropped to 13.0% in TTM, reflecting potential cost pressures or inefficiencies impacting profitability. The EBIT and EBITDA margins demonstrate consistent operational efficiency.65
Positive
Balance Sheet
The balance sheet reveals high leverage with a negative stockholders' equity, indicating financial distress. The debt-to-equity ratio cannot be calculated due to negative equity, and the equity ratio is negative, underscoring significant liabilities compared to assets. These factors highlight financial risk and potential instability.45
Neutral
Cash Flow
Cash flow from operations remains strong, maintaining a healthy ratio to net income, suggesting good cash conversion. However, free cash flow has declined in the TTM period, reducing financial flexibility. The company's capability to manage its capital investments efficiently is evident despite the drop.70
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.71B | 1.73B | 1.73B | 1.73B | 1.50B | 431.78M |
| Gross Profit | 1.35B | 1.59B | 868.93M | 1.60B | 1.39B | 395.07M |
| EBITDA | 620.19M | 622.73M | 613.98M | 660.19M | 521.65M | -88.89M |
| Net Income | 222.56M | 227.50M | 234.20M | 291.19M | 256.51M | -312.32M |
Balance Sheet | ||||||
| Total Assets | 2.57B | 2.57B | 2.63B | 2.33B | 2.61B | 2.57B |
| Cash, Cash Equivalents and Short-Term Investments | 75.67M | 115.89M | 246.92M | 79.20M | 443.71M | 433.91M |
| Total Debt | 2.36B | 2.36B | 2.22B | 2.23B | 2.24B | 2.32B |
| Total Liabilities | 3.05B | 3.04B | 2.83B | 2.76B | 2.64B | 2.67B |
| Stockholders Equity | -478.29M | -461.54M | -208.22M | -437.66M | -33.92M | -105.80M |
Cash Flow | ||||||
| Free Cash Flow | 183.45M | 231.71M | 200.08M | 363.88M | 374.16M | -229.90M |
| Operating Cash Flow | 409.07M | 480.14M | 504.92M | 564.59M | 503.01M | -120.73M |
| Investing Cash Flow | -218.05M | -248.50M | -305.61M | -200.71M | -128.85M | -109.17M |
| Financing Cash Flow | -344.41M | -362.66M | -34.71M | -726.05M | -364.90M | 624.20M |
United Parks & Resorts Technical Analysis
Positive
50.24
Price Trends
46.74
Positive
46.16
Positive
50.12
Positive
Market Momentum
0.34
Positive
57.23
Neutral
77.01
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 50.24 is above the 20-day moving average (MA) of 48.94, above the 50-day MA of 46.74, and above the 200-day MA of 50.12, indicating a bullish trend. The MACD of 0.34 indicates Positive momentum. The RSI at 57.23 is Neutral, neither overbought nor oversold. The STOCH value of 77.01 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 46 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
Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $2.17B | 31.12 | 13.16% | 0.76% | 8.51% | 31.24% | |
76 Outperform | $4.39B | 20.02 | 27.51% | 1.20% | 3.83% | 28.57% | |
66 Neutral | $2.67B | 13.03 | -52.57% | ― | -1.43% | -2.50% | |
61 Neutral | $17.22B | 11.58 | -7.48% | 3.16% | 1.46% | -15.87% | |
57 Neutral | $1.37B | ― | -108.04% | 2.25% | 6.65% | -111.16% | |
47 Neutral | $1.61B | ― | -46.53% | ― | -2.35% | -7104.57% | |
45 Neutral | $359.49M | ― | 22.27% | ― | -3.02% | -517.53% |
* Consumer Cyclical Sector Average
Performance Comparison
PRKS
United Parks & Resorts
50.24
3.16
6.71%
MODG
Topgolf Callaway Brands
8.73
-3.00
-25.58%
GOLF
Acushnet Holdings
76.28
11.46
17.68%
OSW
OneSpaWorld Holdings
22.04
7.06
47.13%
LUCK
Lucky Strike Entertainment
9.85
-1.02
-9.38%
XPOF
Xponential Fitness
7.85
-5.99
-43.28%
United Parks & Resorts Corporate Events
Executive/Board ChangesBusiness Operations and Strategy
United Parks & Resorts HR Chief Resigns
Negative
Jul 22, 2025
On July 16, 2025, Michael Rady, Chief Human Resources Officer of United Parks & Resorts Inc., announced his resignation, effective August 1, 2025. This change in leadership may impact the company’s human resources strategies and operations moving forward.
The most recent analyst rating on (PRKS) stock is a Buy with a $70.00 price target. To see the full list of analyst forecasts on United Parks & Resorts stock, see the PRKS Stock Forecast page.
Executive/Board ChangesShareholder Meetings
United Parks & Resorts Approves Key Proposals at Annual Meeting
Neutral
Jun 17, 2025
On June 13, 2025, United Parks & Resorts Inc. held its Annual Meeting of Stockholders, where a quorum was present. During the meeting, several proposals were voted on, including the election of directors, ratification of KPMG LLP as the independent registered public accounting firm, approval of executive compensation, and the 2025 Omnibus Incentive Plan. All proposals were approved, including the election of directors to serve until the 2026 Annual Meeting and the approval of the director compensation limit in the incentive plan.
The most recent analyst rating on (PRKS) stock is a Buy with a $70.00 price target. To see the full list of analyst forecasts on United Parks & Resorts stock, see the PRKS Stock Forecast page.
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.