Ryman (RHP) AI Stock Analysis

• Market Cap: $6.22B
• Dividend Yield: 5.01%
• Average Volume (3M): 475.03K
• Price to Earnings (P/E): 26.8
• Beta (1Y): 0.68
• Revenue Growth: 6.98%
• EPS Growth: -32.02%
• Country: US
• Employees: 1,047
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Hotel & Motel
• EPS (TTM): 1.11
• Shares Outstanding: 63,006,030
• 10 Day Avg. Volume: 563,182
• 30 Day Avg. Volume: 475,032
• PEG Ratio: -1.82
• Price to Book (P/B): 7.80
• Price to Sales (P/S): 2.27
• P/FCF Ratio: 25.17
• Enterprise Value/Market Cap: 1.61
• Enterprise Value/Revenue: 3.89
• Enterprise Value/Gross Profit: 15.09
• Enterprise Value/Ebitda: 12.99
• 1Y Price Target: $109.71
• Price Target Upside: 11.10% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 8
• EPS Forecast (FY): 3.92
• Revenue Forecast (FY): $2.76B

• Rating: 69 Neutral
• Price Target: $113.00 ▲(14.43% Upside)
• Action: Reiterated Date: 02/25/26
• Date: Action: Reiterated 02/25/26

The score is driven by improving operations and constructive price momentum (trend above key moving averages with positive MACD). The main constraint is balance-sheet risk from high leverage, with valuation also capped by a higher P/E despite a strong dividend yield; management’s cautious 2026 outlook and expected near-term softness further moderate the rating.

Positive Factors

Revenue and earnings recovery

Ryman has shown a material recovery in revenue and profitability from 2020–2025, producing consistently positive operating cash flow. That durable improvement supports reinvestment, dividend capacity and debt service, and indicates the business model is generating repeatable property-level cash flows.

Group booking momentum and convention exposure

Ryman’s focus on large group and convention business provides multi-year forward visibility and higher ancillary spending per booking. Strong on-the-books group revenue and room-night backlog underpin predictable RevPAR and banquet/AV revenues, supporting sustainable margin and cash generation.

Improved liquidity and credit profile

Larger revolver capacity, extended maturity and a rating upgrade materially reduce near-term refinancing pressure and enhance financial flexibility. Strong liquidity supports the planned $350M–$450M capex program while preserving capacity to fund operations and dividends through cycles.

Negative Factors

High leverage

Ryman’s elevated debt relative to equity and pro forma net leverage near 4.3x leave the company sensitive to interest rates and refinancing conditions. High leverage limits strategic optionality, increases fixed charges, and constrains the firm’s ability to absorb downturns without cutting investment or shareholder distributions.

Declining free cash flow conversion

Although operating cash flow is positive, weakening free cash flow and poorer conversion mean less internally generated cash is available for debt paydown, capex and dividends. Over 2–6 months this raises the risk that external funding or disciplined allocation choices are required to sustain payouts and investments.

Large ongoing capex and renovation disruption

A multiyear refresh program and major meeting-space conversions drive significant capex and recurring EBITDA disruption. Reinvestment improves long-term competitiveness but creates near-term earnings headwinds and execution risk; heavy spend plus disruption can strain liquidity and margin durability.

Ryman Business Overview & Revenue Model

Company Description

Ryman Hospitality Properties, Inc. (NYSE: RHP) is a leading lodging and hospitality real estate investment trust that specializes in upscale convention center resorts and country music entertainment experiences. The Company's core holdings* include a network of five of the top 10 largest non-gaming convention center hotels in the United States based on total indoor meeting space. These convention center resorts operate under the Gaylord Hotels brand and are managed by Marriott International. The Company also owns two adjacent ancillary hotels and a small number of attractions managed by Marriott International for a combined total of 10,110 rooms and more than 2.7 million square feet of total indoor and outdoor meeting space in top convention and leisure destinations across the country. The Company's Entertainment segment includes a growing collection of iconic and emerging country music brands, including the Grand Ole Opry; Ryman Auditorium, WSM 650 AM; Ole Red and Circle, a country lifestyle media network the Company owns in a joint-venture with Gray Television. The Company operates its Entertainment segment as part of a taxable REIT subsidiary. * The Company is the sole owner of Gaylord Opryland Resort & Convention Center; Gaylord Palms Resort & Convention Center; Gaylord Texan Resort & Convention Center; and Gaylord National Resort & Convention Center. It is the majority owner and managing member of the joint venture that owns the Gaylord Rockies Resort & Convention Center.

How the Company Makes Money

Ryman generates revenue through multiple key streams, including direct sales of office supplies and stationery products through its physical retail stores and online platform. The company also offers a variety of services such as printing, copying, and business solutions, which contribute significantly to its income. Additionally, Ryman benefits from partnerships with various suppliers and manufacturers, allowing them to provide competitive pricing and exclusive product offerings. Seasonal promotions and bulk purchasing options further enhance its sales volume, while customer loyalty programs encourage repeat business, solidifying Ryman's revenue base.

Ryman Financial Statement Overview

Summary

Strong revenue and earnings recovery with healthy operating profitability and consistently positive operating cash flow. Offsetting this, the balance sheet is heavily levered (very high debt vs. equity) and recent margin volatility plus declining free cash flow in 2024–2025 temper overall quality.

Income Statement

Revenue has expanded materially from 2020–2025, with 2025 showing solid growth versus 2024. Profitability has also improved dramatically from the 2020–2021 loss period to strong positive earnings in 2022–2025, supported by healthy operating and EBITDA profitability in recent years. The key weakness is margin volatility—2025 gross profit margin dropped sharply versus prior years even though operating profitability remained strong, suggesting either higher costs or one-time items that bear monitoring. Net profit margin also eased in 2025 versus 2023–2024.

Balance Sheet

Leverage is the main constraint: total debt is large and debt compared with equity remains very high in every recent year (still elevated in 2025). Equity has improved substantially since the very weak/negative levels in 2021–2022, but the capital structure is still debt-heavy, leaving the company more sensitive to refinancing conditions and downturns. Returns on equity have been high recently, but that is partly amplified by the relatively small equity base.

Cash Flow

Operating cash flow has been consistently positive and strong from 2021–2025, and free cash flow has remained positive each year, which supports debt service and reinvestment capacity. However, free cash flow declined in both 2024 and 2025 (negative growth), and free cash flow covers only a modest portion of net income in 2025, indicating earnings are not translating into free cash at the same rate as in 2022–2023. One reported data point shows operating cash flow coverage as 0.0 in 2025, which appears inconsistent with the positive operating cash flow and should be treated cautiously.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.58B	2.34B	2.16B	1.81B	939.37M
Gross Profit	255.86M	844.30M	709.01M	579.75M	200.70M
EBITDA	774.00M	725.64M	670.70M	530.75M	155.86M
Net Income	243.43M	271.64M	311.22M	128.99M	-176.97M
Balance Sheet
Total Assets	6.18B	5.22B	5.19B	4.04B	3.58B
Cash, Cash Equivalents and Short-Term Investments	500.18M	477.69M	591.83M	334.19M	140.69M
Total Debt	4.29B	3.51B	3.51B	2.99B	3.05B
Total Liabilities	4.97B	4.28B	4.27B	3.63B	3.60B
Stockholders Equity	750.15M	548.98M	569.15M	95.28M	-22.23M
Cash Flow
Free Cash Flow	232.39M	168.60M	350.28M	330.41M	89.25M
Operating Cash Flow	590.63M	576.51M	557.06M	419.93M	111.25M
Investing Cash Flow	-1.23B	-410.40M	-1.01B	-189.31M	-289.74M
Financing Cash Flow	567.29M	-290.32M	711.87M	50.71M	261.73M

Ryman Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 98.75
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RHP, the sentiment is Neutral. The current price of 98.75 is below the 20-day moving average (MA) of 99.94, above the 50-day MA of 97.28, and above the 200-day MA of 95.21, indicating a neutral trend. The MACD of 1.61 indicates Positive momentum. The RSI at 47.95 is Neutral, neither overbought nor oversold. The STOCH value of 33.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for RHP.

Ryman Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HST	72 Outperform	$13.47B	17.77	11.62%	4.90%	6.45%	3.79%
RHP	69 Neutral	$6.22B	26.76	37.48%	5.01%	6.98%	-32.02%
APLE	67 Neutral	$2.89B	16.62	5.47%	8.30%	0.57%	-13.58%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
DRH	64 Neutral	$2.06B	38.47	3.98%	5.13%	0.95%	-8.40%
PK	63 Neutral	$2.28B	-7.93	-8.38%	13.10%	-3.57%	-104.55%
SHO	62 Neutral	$1.76B	1,008.70	0.88%	3.98%	3.04%	-98.77%

Ryman Corporate Events

Ryman Hospitality Expands Revolving Credit Capacity and Maturity

On January 28, 2026, Ryman Hospitality Properties refinanced and amended its revolving credit facility, increasing total capacity from $700 million to $850 million, extending the maturity from May 2027 to January 2030 with an additional one-year extension option, and keeping pricing largely unchanged on a leverage-based grid over SOFR. The company also modified financial covenants tied to the revolver, including limits on consolidated net leverage, fixed charge coverage, secured and secured recourse indebtedness, and unencumbered leverage and interest coverage ratios, moves that collectively enhance liquidity, lengthen its debt maturity profile, and support its ability to fund ongoing growth while maintaining balance-sheet discipline.

The most recent analyst rating on (RHP) stock is a Hold with a $88.00 price target. To see the full list of analyst forecasts on Ryman stock, see the RHP Stock Forecast page.

Ryman Announces Increased Dividend for January 2026

On December 4, 2025, Ryman Hospitality Properties, Inc. announced a cash dividend of $1.20 per common share and a corresponding distribution for OP Unit holders, both payable on January 15, 2026. This marks an increase from the $1.15 dividends and distributions paid throughout 2025, reflecting the company’s ongoing commitment to providing returns to its stakeholders.

The most recent analyst rating on (RHP) stock is a Buy with a $121.00 price target. To see the full list of analyst forecasts on Ryman stock, see the RHP Stock Forecast page.