Pursuit Attractions and Hospitality (PRSU) AI Stock Analysis

• Market Cap: $1.05B
• Dividend Yield: N/A
• Average Volume (3M): 168.32K
• Price to Earnings (P/E): 2.9
• Beta (1Y): 1.23
• Revenue Growth: -68.48%
• EPS Growth: 2198.47%
• Country: US
• Employees: 1,500
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Specialty Business Services
• EPS (TTM): 2.60
• Shares Outstanding: 28,283,264
• 10 Day Avg. Volume: 148,702
• 30 Day Avg. Volume: 168,318
• PEG Ratio: <0.01
• Price to Book (P/B): 1.73
• Price to Sales (P/S): 2.48
• P/FCF Ratio: -138.86
• Enterprise Value/Market Cap: 1.15
• Enterprise Value/Revenue: -3.47
• Enterprise Value/Gross Profit: 7.11
• Enterprise Value/Ebitda: -58.55
• 1Y Price Target: $44.00
• Price Target Upside: 18.79% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 64 Neutral
• Price Target: $38.00 ▲(2.59% Upside)

The score is primarily held back by inconsistent underlying profitability and weak cash conversion (negative free cash flow despite very large reported net income). Offsetting this, the earnings call signaled strong operating momentum with raised guidance, valuation appears attractive on P/E, and technicals are mildly supportive. The recent divestiture is an additional positive, but less influential than financial quality and guidance.

Positive Factors

Strengthened capital structure (lower leverage)

Material reduction in leverage in 2024 and TTM meaningfully strengthens the company’s capital structure. Lower leverage reduces refinancing and interest risk, expands strategic optionality for M&A or reinvestment, and provides a buffer to absorb operating shocks over the medium term.

Sustained operating momentum and upgraded guidance

Record third-quarter revenue and a raise to full-year adjusted EBITDA guidance suggest durable demand recovery and improving cost management. Consistent top-line expansion and margin improvement support longer-term cash generation potential and validate the firm’s pipeline-driven 'Refresh, Build, Buy' strategy.

Strategic portfolio pruning via Flyover divestiture

The $78.4M sale of the Flyover business is a structural portfolio move that reduces operating complexity and transfers associated risk. Proceeds can be redeployed into higher-return refresh/build projects or strengthen liquidity, while deal protections (termination fee, reps insurance) limit execution risk.

Negative Factors

Weak cash conversion / negative free cash flow

Despite positive operating cash flow in some years, persistent negative free cash flow in 2024 and TTM shows earnings are not translating into discretionary cash. This undermines the company’s ability to self-fund capex, pay down debt or finance acquisitions without external funding over the medium term.

Earnings quality volatility and reporting noise

A small operating loss in TTM alongside very large net income implies material non-operating or one-time items are driving reported profits. That volatility complicates forecasting and weakens confidence in sustainable margins and cash flows, increasing execution and capital-allocation risk.

Operational exposure: weather and long project timelines

The business is structurally exposed to weather-driven demand swings and is executing multiyear renovations (e.g., Jasper SkyTram, lodge work). Such exposures can cause recurring revenue volatility, escalate costs, and delay returns on capital, challenging steady long-term cash generation.

Pursuit Attractions and Hospitality Business Overview & Revenue Model

Company Description

Pursuit Attractions and Hospitality, Inc., an attraction and hospitality company, owns and operates hospitality destinations in the United States, Canada, and Iceland. It operates various attractions and lodges with restaurants, retail, and transportation facilities. The company was formerly known as Viad Corp and changed its name to Pursuit Attractions and Hospitality, Inc. in January 2025. Pursuit Attractions and Hospitality, Inc. was founded in 1926 and is headquartered in Scottsdale, Arizona.

How the Company Makes Money

Pursuit Attractions and Hospitality generates revenue through multiple streams, primarily by offering ticket sales for its attractions and adventure experiences, which include guided tours and special events. Additionally, the company earns income from its hospitality services, including bookings for hotels, lodges, and vacation rentals. Dining options within its attractions also contribute significantly to its revenue. The company benefits from partnerships with local tourism boards, travel agencies, and other hospitality providers, which enhance its visibility and attract a broader customer base. Seasonal promotions, marketing campaigns, and loyalty programs further bolster its earnings by encouraging repeat visits and attracting new customers.

Pursuit Attractions and Hospitality Financial Statement Overview

Summary

Financial stability has improved (materially lower leverage in 2024 and TTM), but earnings quality and cash conversion are key concerns. TTM shows very large net income alongside a small operating loss, and free cash flow is negative in 2024 and meaningfully negative in TTM, indicating weak translation of reported profits into cash.

Income Statement

Results are volatile. Revenue improved strongly versus the prior year in TTM (Trailing-Twelve-Months), but the revenue figure is negative in TTM, which makes margins and growth direction hard to interpret cleanly and points to reporting noise or non-recurring items. Profitability is mixed: 2022–2024 show generally positive operating profitability and a recovery from large losses in 2020–2021, yet TTM shows a small operating loss (negative EBIT/EBITDA) despite very large reported net income, suggesting that earnings are being driven by items outside core operations.

Balance Sheet

Leverage has improved materially. Debt relative to equity was extremely high in 2021–2023, but it drops to a much more conservative level in 2024 and remains low in TTM (Trailing-Twelve-Months), indicating a strengthened capital structure. Equity has also grown versus the stressed years. The main watch-out is that returns on equity are unusually high in 2022–TTM, which can reflect one-time gains rather than sustainable operating performance.

Cash Flow

Cash generation is weaker than earnings quality suggests. Operating cash flow is positive in 2022–2024 and remains slightly positive in TTM (Trailing-Twelve-Months), but free cash flow is negative in 2024 and meaningfully negative in TTM, implying heavy investment or working-capital drag. Cash flow relative to net income is also poor in 2024 and TTM (Trailing-Twelve-Months), reinforcing that recent net income is not translating into cash.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	-345.91M	366.49M	350.29M	299.33M	507.34M	415.44M
Gross Profit	169.02M	40.56M	53.44M	24.10M	-46.93M	-116.17M
EBITDA	-20.52M	11.71M	71.17M	40.71M	-13.01M	-286.41M
Net Income	364.08M	368.54M	16.02M	23.22M	-92.66M	-374.09M
Balance Sheet
Total Assets	996.83M	845.01M	1.14B	1.09B	1.04B	853.22M
Cash, Cash Equivalents and Short-Term Investments	34.39M	49.70M	27.43M	59.72M	61.60M	39.55M
Total Debt	200.12M	112.73M	490.06M	584.70M	565.24M	379.54M
Total Liabilities	308.05M	228.32M	999.97M	988.55M	940.35M	673.90M
Stockholders Equity	607.16M	525.83M	43.43M	14.53M	6.28M	95.95M
Cash Flow
Free Cash Flow	-43.06M	-6.56M	42.23M	6.26M	-95.79M	-133.81M
Operating Cash Flow	4.48M	49.67M	104.68M	73.43M	-37.85M	-80.25M
Investing Cash Flow	254.12M	350.77M	-74.86M	-63.27M	-51.80M	-6.77M
Financing Cash Flow	-291.14M	-401.08M	-36.16M	-6.13M	107.89M	66.29M

Pursuit Attractions and Hospitality Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 37.04
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: 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 37.04 is above the 20-day moving average (MA) of 35.28, above the 50-day MA of 34.86, and above the 200-day MA of 33.21, indicating a bullish trend. The MACD of 0.74 indicates Negative momentum. The RSI at 61.08 is Neutral, neither overbought nor oversold. The STOCH value of 82.45 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 Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TH	67 Neutral	$736.37M	-74.85	-2.36%	―	-26.65%	-110.98%
LZ	67 Neutral	$1.26B	57.15	16.96%	―	7.17%	-5.86%
RHLD	66 Neutral	$1.62B	―	―	―	―	―
PRSU	64 Neutral	$1.05B	2.95	-24.71%	―	-68.48%	2198.47%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
BV	59 Neutral	$1.32B	-1,684.34	3.13%	―	-3.40%	-51.58%
CVEO	54 Neutral	$333.83M	-13.72	-12.34%	4.25%	-10.51%	-247.97%

Pursuit Attractions and Hospitality Corporate Events

Pursuit Attractions Announces Sale of Flyover Theater Business

On January 21, 2026, Pursuit Attractions and Hospitality, Inc. announced that it entered into an equity purchase agreement to sell all outstanding equity interests in the subsidiaries comprising its Flyover flying theater attractions business to Flyover Attractions B.V. for $78.4 million in cash, subject to customary post-closing adjustments for debt, cash, working capital and certain expenses. The transaction, which remains subject to regulatory approvals and other standard closing conditions and includes a $10 million termination fee payable to Pursuit under specified circumstances, marks a strategic divestiture that will reshape the company’s attractions portfolio and could reallocate capital within its broader hospitality and attractions operations, while shifting operational control and associated risks of the Flyover business to the buyer, which has also secured representations and warranties insurance to backstop potential claims.

The most recent analyst rating on (PRSU) stock is a Hold with a $39.00 price target. To see the full list of analyst forecasts on Pursuit Attractions and Hospitality stock, see the PRSU Stock Forecast page.

Pursuit Attractions Updates Bylaws for Modern Governance

On December 4, 2025, Pursuit Attractions and Hospitality‘s Board approved and adopted amended and restated bylaws, which became effective immediately. These amendments include provisions for flexible scheduling of annual meetings, the possibility of remote-only stockholder meetings, limitations on stockholder nominations, updated procedural requirements for director nominations and stockholder proposals, and the establishment of exclusive legal forums for certain disputes. These changes aim to modernize the company’s governance framework and ensure compliance with current regulatory standards.

The most recent analyst rating on (PRSU) stock is a Buy with a $44.00 price target. To see the full list of analyst forecasts on Pursuit Attractions and Hospitality stock, see the PRSU Stock Forecast page.