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): 41.9
• Beta (1Y): 1.18
• 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): -0.91
• Shares Outstanding: 28,019,423
• 10 Day Avg. Volume: 148,702
• 30 Day Avg. Volume: 168,318
• PEG Ratio: -0.45
• Price to Book (P/B): 1.63
• Price to Sales (P/S): 2.10
• P/FCF Ratio: -1.27K
• Enterprise Value/Market Cap: 1.17
• Enterprise Value/Revenue: 2.71
• Enterprise Value/Gross Profit: 4.57
• Enterprise Value/Ebitda: 11.17
• 1Y Price Target: $47.67
• Price Target Upside: 26.78% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): 1.39
• Revenue Forecast (FY): $481.97M

• Rating: 61 Neutral
• Price Target: $37.00 ▼(-1.60% Downside)
• Action: Downgraded Date: 03/02/26
• Date: Action: Downgraded 03/02/26

PRSU scores moderately: improving profitability and balance-sheet leverage and a strong, guidance-backed earnings call outlook support the score, but inconsistent free cash flow/cash conversion and a high P/E valuation limit upside, while technical signals remain mixed and not decisively bullish.

Positive Factors

Profitability turnaround & margin expansion

Pursuit moved from multi-year losses to sustained profitability with materially higher EBITDA and margins in 2025. Durable margin expansion indicates stronger operating leverage across attractions and hospitality, supporting reinvestment capacity and margin resilience over the next several years.

Material de-leveraging and stronger liquidity

Sharp reduction in leverage and a rebuilt equity base materially improves financial flexibility. A lower debt burden reduces refinancing risk and preserves capacity to fund the company’s Refresh/Build/Buy pipeline, dividends or opportunistic M&A over the medium term.

Diversified experiential model and growth pipeline

A multi-channel revenue base—ticketing, lodging, tours, dining—plus a $250M pipeline supports durable top-line optionality. The strategic pipeline and acquisition integration experience (e.g., Tabacon) enhance long-term growth potential and reduce reliance on any single location or season.

Negative Factors

Thin and inconsistent free cash flow

Weak and variable free cash flow constrains internal funding for capex, renovations and acquisitions without drawing on external capital. Over 2–6 months this raises execution risk for large projects and may limit the pace of the stated Refresh/Build/Buy program or share-return actions.

Earnings and revenue volatility

Pronounced year-to-year swings and indications of non-recurring items undermine earnings predictability. For strategic planning and investor confidence, persistent volatility reduces the reliability of margins and guidance, complicating capital allocation and long-term forecasting.

Operational exposure to weather and long project timelines

Many assets are outdoor or seasonal and subject to weather-driven demand swings; major renovations are multiyear. These structural operational risks can produce revenue intermittency and cost overruns over several quarters, challenging margin stability and project ROI realization.

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

Profitability and leverage have improved meaningfully (healthy 2025 margins and lower debt-to-equity), but results remain volatile (atypical 2024 profitability, uneven growth) and free cash flow is thin/inconsistent versus earnings.

Income Statement

Results show a meaningful turnaround from large losses in 2020–2021 to solid profitability in recent years. Annual revenue rose from $299M (2022) to $452M (2025), while profitability improved to a healthy net margin of ~15.8% in 2025 and EBITDA margin of ~24.3%. Offsetting this, revenue growth is volatile (notably a very large negative growth rate shown for 2025), and 2024 profitability appears unusually elevated (net margin ~100%), suggesting earnings volatility and/or one-time items that reduce comparability across years.

Balance Sheet

Leverage has improved materially versus the highly stressed capital structure seen in 2021–2023 (extremely high debt-to-equity), with 2024–2025 showing more moderate leverage (debt-to-equity ~0.21–0.33) and equity building to ~$582M in 2025. Total debt also declined sharply from the 2022–2023 level to $190M in 2025. The key weakness is the historical balance-sheet instability (very high leverage in earlier years), which raises the bar for consistency and suggests the capital structure has been through major changes.

Cash Flow

Cash generation is positive in the last four years, with operating cash flow of ~$86M in 2025, but free cash flow is thin and inconsistent (only ~$11M in 2025 and negative in 2024). Cash conversion also looks mixed: in 2025, free cash flow is only ~13% of net income, indicating profits are not translating strongly into residual cash after investment needs. The positive is that operating cash flow generally supports earnings in 2024–2025 (coverage above ~0.65x, improving to ~1.09x in 2025), but overall free-cash-flow reliability remains a weak point.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	452.42M	366.49M	350.29M	299.33M	507.34M
Gross Profit	145.60M	40.56M	53.44M	24.10M	-46.93M
EBITDA	109.91M	11.71M	71.17M	40.71M	-13.01M
Net Income	22.67M	368.54M	16.02M	23.22M	-92.66M
Balance Sheet
Total Assets	965.42M	845.01M	1.14B	1.09B	1.04B
Cash, Cash Equivalents and Short-Term Investments	31.12M	49.70M	27.43M	59.72M	61.60M
Total Debt	195.22M	112.73M	490.06M	584.70M	565.24M
Total Liabilities	305.04M	228.32M	999.97M	988.55M	940.35M
Stockholders Equity	581.83M	525.83M	43.43M	14.53M	6.28M
Cash Flow
Free Cash Flow	-750.00K	-6.56M	42.23M	6.26M	-95.79M
Operating Cash Flow	74.27M	49.67M	104.68M	73.43M	-37.85M
Investing Cash Flow	-166.05M	350.77M	-74.86M	-63.27M	-51.80M
Financing Cash Flow	65.82M	-401.08M	-36.16M	-6.13M	107.89M

Pursuit Attractions and Hospitality Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 37.60
• 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 37.6 is above the 20-day moving average (MA) of 36.65, above the 50-day MA of 35.47, and above the 200-day MA of 33.89, indicating a bullish trend. The MACD of 0.37 indicates Negative momentum. The RSI at 57.84 is Neutral, neither overbought nor oversold. The STOCH value of 83.32 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
LZ	66 Neutral	$1.09B	115.09	8.17%	―	7.17%	-5.86%
RHLD	66 Neutral	$1.31B	4.08	―	―	―	―
TH	65 Neutral	$906.00M	-21.47	-2.36%	―	-26.65%	-110.98%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
PRSU	61 Neutral	$1.05B	41.90	-24.71%	―	-68.48%	2198.47%
BV	59 Neutral	$1.11B	-19.84	3.13%	―	-3.40%	-51.58%
CVEO	56 Neutral	$320.19M	-14.41	-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.