Pursuit Attractions and Hospitality (PRSU)
NYSE:PRSU
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Pursuit Attractions and Hospitality
(NYSE:PRSU)
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Rating:67Neutral
Price Target:
$46.00
▲(11.30% Upside)
Action:Reiterated
Date:05/09/26
The score is driven by improving profitability/leverage and a positive, guidance-reaffirming earnings call with strong demand indicators and low pro forma leverage. Offsetting this are weak cash flow conversion with negative recent free cash flow, plus less helpful valuation signals due to a negative P/E and no dividend yield data; technicals add moderate support with price trending above key moving averages.
Positive Factors
Improving profitability and margins
Sustained margin improvement to ~50% gross and ~11.5% net indicates stronger unit economics and pricing power across attractions and lodging. This improvement supports durable EBITDA growth potential, funds investment in experiences, and reduces sensitivity to modest volume shocks over the medium term.
Negative Factors
Weak cash flow conversion / negative FCF
Negative free cash flow and OCF converting to only ~52% of net income show earnings are not reliably turning into spendable cash. This limits internal funding for capex and acquisitions, increases reliance on disposals or external financing, and raises sensitivity to timing of large projects or asset sales.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving profitability and margins
Sustained margin improvement to ~50% gross and ~11.5% net indicates stronger unit economics and pricing power across attractions and lodging. This improvement supports durable EBITDA growth potential, funds investment in experiences, and reduces sensitivity to modest volume shocks over the medium term.
Read all positive factors
Pursuit Attractions and Hospitality (PRSU) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.17B
Dividend YieldN/A
Average Volume (3M)168.32K
Price to Earnings (P/E)―
Beta (1Y)1.17
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-0.45
Price to Book (P/B)1.63
Price to Sales (P/S)2.10
P/FCF Ratio-1.27K
Enterprise Value/Market Cap1.17
Enterprise Value/Revenue2.93
Enterprise Value/Gross Profit8.74
Enterprise Value/Ebitda11.48
Forecast
1Y Price Target
$51.33Price Target Upside24.20% 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., 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 transp...
How the Company Makes Money
PRSU makes money by selling destination-based experiences and hospitality services to travelers and travel intermediaries. Key revenue streams typically include: (1) Admissions and ticketing revenue from its attractions and experiences (e.g., sing...
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 | 119.10M | 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
39.55
Positive
37.45
Positive
36.37
Positive
Market Momentum
0.76
Positive
60.97
Neutral
41.17
Neutral
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 41.66, above the 50-day MA of 39.55, and above the 200-day MA of 36.37, indicating a bullish trend. The MACD of 0.76 indicates Positive momentum. The RSI at 60.97 is Neutral, neither overbought nor oversold. The STOCH value of 41.17 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
71 Outperform | $1.80B | -17.95 | -11.10% | ― | -7.43% | -198.60% | |
68 Neutral | $1.13B | 224.52 | 6.38% | ― | 12.87% | -63.11% | |
67 Neutral | $1.17B | -10.23 | 9.56% | ― | -49.16% | -91.38% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | $1.19B | 165.11 | 2.62% | ― | -0.02% | -154.82% | |
57 Neutral | $368.02M | -19.32 | -7.72% | 4.25% | 1.13% | 25.94% | |
48 Neutral | $902.46M | -1.79 | -1095.64% | ― | ― | ― |
* Consumer Cyclical Sector Average
PRSU
Pursuit Attractions and Hospitality
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50.81%
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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.