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Pursuit Attractions and Hospitality
(NYSE:PRSU)
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Rating:65Neutral
Price Target:
$59.00
▲(42.75% Upside)
Action:Reiterated
Date:06/06/26
The score is driven by improving profitability and a healthier balance sheet, reinforced by constructive price trends and a generally positive earnings call with reaffirmed guidance and strong liquidity. Offsetting factors are weak free cash flow/cash conversion, a relatively high P/E valuation, and execution risks tied to seasonality, acquisition concentration, and the FlyOver sale timing.
Positive Factors
Improving profitability and margins
Pursuit’s recent financials show materially stronger margins versus prior years (TTM gross margin ~50%, net margin ~11.5%), reflecting better pricing, mix and operating leverage in attractions and lodging. These sustained margin gains improve free cash flow potential and make earnings more resilient across cycles if demand remains stable.
Negative Factors
Weak cash conversion and negative FCF
Although operating cash flow is positive, the company converts only about half of reported earnings to cash and reported negative free cash flow in recent periods (TTM and 2025). Persistently weak cash conversion constrains capacity to fund growth, pay down debt, or sustain buybacks without relying on external financing or asset sales.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving profitability and margins
Pursuit’s recent financials show materially stronger margins versus prior years (TTM gross margin ~50%, net margin ~11.5%), reflecting better pricing, mix and operating leverage in attractions and lodging. These sustained margin gains improve free cash flow potential and make earnings more resilient across cycles if demand remains stable.
Read all positive factors
Pursuit Attractions and Hospitality (PRSU) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.53B
Dividend YieldN/A
Average Volume (3M)168.32K
Price to Earnings (P/E)51.1
Beta (1Y)1.15
Revenue Growth-49.16%
EPS Growth-91.38%
CountryUS
Employees1,500
SectorConsumer Cyclical
Sector Strength84
IndustrySpecialty Business Services
Share Statistics
EPS (TTM)1.10
Shares Outstanding27,318,490
10 Day Avg. Volume148,702
30 Day Avg. Volume168,318
Financial Highlights & Ratios
PEG Ratio-0.41
Price to Book (P/B)1.63
Price to Sales (P/S)2.10
P/FCF Ratio-1.27K
Enterprise Value/Market Cap1.00
Enterprise Value/Revenue3.27
Enterprise Value/Gross Profit9.74
Enterprise Value/Ebitda13.03
Forecast
1Y Price Target
$49.50Price Target Upside19.77% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)1.59
Revenue Forecast (FY)$467.42M
Pursuit Attractions and Hospitality Business Overview & Revenue Model
Company Description
Pursuit Attractions and Hospitality, Inc., a company dedicated to leisure and guest services, owns and oversees a collection of destination properties throughout the United States, Canada, and Iceland. Its operations include a variety of tourist a...
How the Company Makes Money
PRSU primarily makes money by selling travel experiences and hospitality services directly to consumers and through travel trade partners. Key revenue streams typically include: (1) Admissions and ticket sales for attractions and experiences—reven...
Pursuit Attractions and Hospitality Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call emphasized strong top-line momentum, record Q1 revenue (+37%), meaningful attraction and lodging growth (attraction revenue +22%, lodging revenue +78%), improving profitability trends and robust balance sheet metrics (pro forma liquidity ~$250M; net leverage <1x). Management reaffirmed full-year adjusted EBITDA guidance and detailed a sizable multi-year organic and acquisition-led growth pipeline (Vision 2030) while continuing opportunistic buybacks. Key negatives are continued seasonality-driven losses in Q1 (adjusted EBITDA still negative $14.9M), reliance on Tabacon for a material portion of near-term growth, and some execution/timing risks tied to the FlyOver sale and CapEx scheduling. Overall, the positives—strong growth, improving margins, low leverage and clear long-term plan—outweigh the near-term lowlights.Positive Updates
Attractions and Lodging Outperformance
Attraction ticket revenue reached $23.0 million, up 22% YoY; same-store constant-currency effective ticket price (ex-Tabacon) +5% YoY. Lodging room revenue totaled $13.0 million, up 78% YoY; same-store constant-currency RevPAR (ex-Tabacon) +6% YoY.
Negative Updates
Negative Adjusted EBITDA and Ongoing Seasonal Losses
Q1 adjusted EBITDA remained negative at $14.9 million despite a $2.6 million YoY improvement; adjusted net loss of $26.2 million and seasonal net loss attributable to Pursuit of $24.9 million indicate continued seasonality-driven losses in the off‑peak quarter.
Read all updates
Q1-2026 Updates
Positive
Negative
Attractions and Lodging Outperformance
Attraction ticket revenue reached $23.0 million, up 22% YoY; same-store constant-currency effective ticket price (ex-Tabacon) +5% YoY. Lodging room revenue totaled $13.0 million, up 78% YoY; same-store constant-currency RevPAR (ex-Tabacon) +6% YoY.
Read all positive updates
Company Guidance
Pursuit reaffirmed 2026 guidance with adjusted EBITDA of $123 million to $133 million (about a 9% increase at the midpoint versus 2025) and said, excluding FlyOver, revenue and adjusted EBITDA are expected to increase double digits at the midpoint with margin improvement; the pending FlyOver sale (expected to close in May) leaves pro forma March 31 liquidity of roughly $250 million and pro forma net leverage below 1x (well under the 2.0–3.5x target range). Management expects 2026 growth capital expenditures of $70–$80 million (reduced from prior guidance due to timing shifts), an anticipated effective tax rate of ~22–26% post‑sale, and continued opportunistic buybacks (to date $40.4 million repurchased at an average price of $35.40, Board-approved additional $50 million authorization, and roughly $60 million available). Looking longer term, Pursuit outlined a Vision 2030 plan targeting more than $265 million of adjusted EBITDA (over double 2025) and margins above 30%, supported by ~ $300 million of organic growth investments from 2026–2030 (≈$200 million front‑loaded in the next two years) expected to add >$40 million of adjusted EBITDA by 2030 at an estimated multiple below 7x with a meaningful EBITDA inflection beginning in 2028.Pursuit Attractions and Hospitality Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
68
Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 466.48M | 452.42M | 366.49M | 350.29M | 299.33M | 507.34M |
| Gross Profit | 156.46M | 417.79M | 40.56M | 53.44M | 24.10M | -46.93M |
| EBITDA | 116.96M | 109.91M | 11.71M | 71.17M | 40.71M | -13.01M |
| Net Income | 30.61M | 22.67M | 368.54M | 16.02M | 23.22M | -92.66M |
Balance Sheet | ||||||
| Total Assets | 1.00B | 965.42M | 845.01M | 1.14B | 1.09B | 1.04B |
| Cash, Cash Equivalents and Short-Term Investments | 34.50M | 31.12M | 49.70M | 27.43M | 59.72M | 61.60M |
| Total Debt | 228.90M | 195.22M | 112.73M | 490.06M | 584.70M | 565.24M |
| Total Liabilities | 393.25M | 305.04M | 228.32M | 999.97M | 988.55M | 940.35M |
| Stockholders Equity | 533.92M | 581.83M | 525.83M | 43.43M | 14.53M | 6.28M |
Cash Flow | ||||||
| Free Cash Flow | -12.81M | -750.00K | -6.56M | 42.23M | 6.26M | -95.79M |
| Operating Cash Flow | 69.18M | 74.27M | 49.67M | 104.68M | 73.43M | -37.85M |
| Investing Cash Flow | -177.70M | -166.05M | 350.77M | -74.86M | -63.27M | -51.80M |
| Financing Cash Flow | 112.14M | 65.82M | -401.08M | -36.16M | -6.13M | 107.89M |
Pursuit Attractions and Hospitality Technical Analysis
Positive
41.33
Price Trends
45.09
Positive
41.23
Positive
38.12
Positive
Market Momentum
2.78
Negative
86.51
Negative
91.89
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PRSU, the sentiment is Positive. The current price of 41.33 is below the 20-day moving average (MA) of 49.07, below the 50-day MA of 45.09, and above the 200-day MA of 38.12, indicating a bullish trend. The MACD of 2.78 indicates Negative momentum. The RSI at 86.51 is Negative, neither overbought nor oversold. The STOCH value of 91.89 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PRSU.
Pursuit Attractions and Hospitality Risk Analysis
Pursuit Attractions and Hospitality disclosed 31 risk factors in its most recent earnings report. Pursuit Attractions and Hospitality 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
Pursuit Attractions and Hospitality Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $1.53B | 51.14 | 5.44% | ― | -49.16% | -91.38% | |
64 Neutral | $1.05B | 95.38 | 6.38% | ― | 12.87% | -63.11% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | $1.32B | -259.25 | 2.62% | ― | -0.02% | -154.82% | |
59 Neutral | $2.03B | -46.62 | -11.10% | ― | -7.43% | -198.60% | |
54 Neutral | $383.02M | -29.32 | -7.72% | 4.25% | 1.13% | 25.94% | |
53 Neutral | $1.19B | 20.67 | 676.48% | ― | ― | ― |
* Consumer Cyclical Sector Average
PRSU
Pursuit Attractions and Hospitality
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Pursuit Attractions and Hospitality Corporate Events
Executive/Board ChangesShareholder Meetings
Pursuit Attractions Shareholders Back Board, Auditor and Pay
Positive
Jun 5, 2026
On June 4, 2026, Pursuit Attractions and Hospitality, Inc. held its 2026 annual meeting of shareholders, with 94.5% of its 27,449,264 outstanding common shares represented in person or by proxy. Shareholders reelected Class I directors Joshua E. S...
Business Operations and StrategyM&A Transactions
Pursuit Attractions Extends Deadline for Flyover Business Sale
Neutral
May 20, 2026
On January 21, 2026, Pursuit Attractions and Hospitality, Inc. agreed to sell all outstanding equity interests in the subsidiaries that comprise its Flyover flying theater attractions business to Flyover Attractions B.V., with Brogent Technologies...
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.