Ryman Hospitality Properties (RHP)
NYSE:RHP
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Ryman
(NYSE:RHP)
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Rating:72Outperform
Price Target:
$139.00
▲(34.25% Upside)
Action:Reiterated
Date:05/09/26
The score is driven by strong technical uptrend and a constructive earnings update (raised guidance, robust group bookings, solid liquidity). These positives are partially offset by balance sheet/leverage concerns (and debt-data inconsistency) and overbought technical readings, with valuation appearing fair rather than distinctly cheap.
Positive Factors
Cash Generation & Margins
Consistent operating cash flow and healthy margins provide durable internal funding for dividends, capex and acquisitions. Sustained OCF (~$662M TTM) and positive FCF (~$302M) underpin the REIT’s ability to service debt and fund growth even through cyclical lodging downturns.
Negative Factors
High Leverage & Reporting Inconsistency
Elevated historical leverage materially increases sensitivity to weaker demand and interest-rate moves, constraining flexibility. The inconsistency in TTM debt reporting creates uncertainty around true leverage and covenant headroom, complicating long-term capital planning and investor assessment.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash Generation & Margins
Consistent operating cash flow and healthy margins provide durable internal funding for dividends, capex and acquisitions. Sustained OCF (~$662M TTM) and positive FCF (~$302M) underpin the REIT’s ability to service debt and fund growth even through cyclical lodging downturns.
Read all positive factors
Ryman (RHP) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$7.90B
Dividend Yield5.01%
Average Volume (3M)586.66K
Price to Earnings (P/E)30.8
Beta (1Y)0.71
Revenue Growth10.68%
EPS Growth-17.54%
CountryUS
Employees1,047
SectorReal Estate
Sector Strength53
IndustryREIT - Hotel & Motel
Share Statistics
EPS (TTM)4.02
Shares Outstanding63,109,272
10 Day Avg. Volume507,899
30 Day Avg. Volume586,661
Financial Highlights & Ratios
PEG Ratio-1.82
Price to Book (P/B)7.80
Price to Sales (P/S)2.27
P/FCF Ratio25.17
Enterprise Value/Market Cap1.44
Enterprise Value/Revenue4.30
Enterprise Value/Gross Profit20.85
Enterprise Value/Ebitda14.16
Forecast
1Y Price Target
$121.70Price Target Upside17.54% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering11
EPS Forecast (FY)4.08
Revenue Forecast (FY)$2.80B
Ryman Business Overview & Revenue Model
Company Description
Ryman Hospitality Properties, Inc. (NYSE: RHP) operates as a prominent real estate investment trust (REIT) in the lodging and hospitality sectors, focusing on high-end convention center properties and a diverse portfolio of country music entertain...
How the Company Makes Money
Ryman makes money primarily through real estate and hospitality-related income tied to its owned properties. A key component is revenue generated by its large convention resort assets (including Gaylord Hotels-branded properties), which earn incom...
Ryman Earnings Call Summary
Earnings Call Date:Apr 30, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 06, 2026
Earnings Call Sentiment Positive
The call conveyed a predominantly positive operational and financial trajectory: strong same-store hospitality results, record performance at multiple properties, robust group bookings (gross group room nights +~27% YoY), notable outperformance at the recently acquired JW Marriott Desert Ridge (ADR ~+8%, group demand +9%, banquet/AV +25%), solid liquidity ($424M cash, ~$1.35B available) and proactive balance sheet management (issued $700M 2034 notes). Entertainment showed bright spots (Ole Red, Category 10) but the segment declined year over year due to tough comps and seasonality. Management acknowledged inventory-management-driven comparability headwinds for 2027–2028, weather disruption in January, and macro/geopolitical risks that could temper demand. Overall, positives such as strong bookings, margin expansion, and disciplined capital allocation materially outweigh the headwinds discussed.Positive Updates
Strong Same-Store Hospitality Performance
Same-store hospitality grew revenue and market share while expanding margin despite slightly fewer room nights. Same-store ADR increased just over 5% year over year, driven by pricing discipline and higher-value mix.
Negative Updates
Entertainment Segment Year-Over-Year Decline
Overall Entertainment results declined year over year in Q1 due to a challenging comparison, seasonality from a new business line, and the impact of winter storm Fern—pressuring segment profitability despite bright spots at Ole Red and Category 10.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Same-Store Hospitality Performance
Same-store hospitality grew revenue and market share while expanding margin despite slightly fewer room nights. Same-store ADR increased just over 5% year over year, driven by pricing discipline and higher-value mix.
Read all positive updates
Company Guidance
The company said it is raising the midpoints of its full-year guidance after a stronger-than-expected Q1 and reiterated measured confidence for the remainder of 2026, assuming mid-single-digit growth in group rooms revenue and flattish year‑over‑year leisure performance; they expect same‑store RevPAR growth to accelerate through the year with Q3 the strongest quarter for revenue and margin and Q2 and Q4 the largest contributors for Entertainment. Key metrics cited include Q1 gross group room nights booked up nearly 27% year‑over‑year (strongest Q1 production since 2018) with corporate bookings ≈ two‑thirds of production, same‑store group rooms revenue on the books rising from +6.5% (Dec 31) to +7.6% (Mar 31), on‑the‑books growth of >3% for 2027 and −1% for 2028 with ADR pacing mid‑single digits, and a target of 50 points of occupancy on the books for 2027. Financial/liquidity items in the outlook: unrestricted cash $424M (plus $27M restricted), undrawn revolvers and total availability ≈ $1.35B, pro forma net leverage ~4.3x (net debt to Adjusted EBITDAre, assuming full‑year Desert Ridge contribution), completion of a $700M senior note issuance due 2034 (redeeming 2027 notes), and unchanged full‑year CapEx guidance of $350M–$450M.Ryman Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
42
Neutral
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.65B | 2.58B | 2.34B | 2.16B | 1.81B | 939.37M |
| Gross Profit | 546.70M | 255.86M | 844.30M | 709.01M | 579.75M | 200.70M |
| EBITDA | 804.95M | 774.00M | 725.64M | 670.70M | 530.75M | 155.86M |
| Net Income | 250.94M | 243.43M | 271.64M | 311.22M | 128.99M | -176.97M |
Balance Sheet | ||||||
| Total Assets | 6.19B | 6.18B | 5.22B | 5.19B | 4.04B | 3.58B |
| Cash, Cash Equivalents and Short-Term Investments | 451.29M | 500.18M | 477.69M | 591.83M | 334.19M | 140.69M |
| Total Debt | 4.13B | 4.29B | 3.51B | 3.51B | 2.99B | 3.05B |
| Total Liabilities | 4.99B | 4.97B | 4.28B | 4.27B | 3.63B | 3.60B |
| Stockholders Equity | 732.84M | 750.15M | 548.98M | 569.15M | 95.28M | -22.23M |
Cash Flow | ||||||
| Free Cash Flow | 302.48M | 232.39M | 168.60M | 350.28M | 330.41M | 89.25M |
| Operating Cash Flow | 661.65M | 590.63M | 576.51M | 557.06M | 419.93M | 111.25M |
| Investing Cash Flow | -1.22B | -1.23B | -410.40M | -1.01B | -189.31M | -289.74M |
| Financing Cash Flow | 545.23M | 567.29M | -290.32M | 711.87M | 50.71M | 261.73M |
Ryman Technical Analysis
Positive
103.54
Price Trends
110.13
Positive
102.59
Positive
96.91
Positive
Market Momentum
4.13
Negative
74.92
Negative
80.98
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RHP, the sentiment is Positive. The current price of 103.54 is below the 20-day moving average (MA) of 118.04, below the 50-day MA of 110.13, and above the 200-day MA of 96.91, indicating a bullish trend. The MACD of 4.13 indicates Negative momentum. The RSI at 74.92 is Negative, neither overbought nor oversold. The STOCH value of 80.98 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for RHP.
Ryman Risk Analysis
Ryman disclosed 50 risk factors in its most recent earnings report. Ryman 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
Ryman Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $17.13B | 17.13 | 15.16% | 4.90% | 6.16% | 51.96% | |
74 Outperform | $2.53B | 24.19 | 6.89% | 5.13% | -0.40% | 136.86% | |
72 Outperform | $7.90B | 30.84 | 33.00% | 5.01% | 10.68% | -17.54% | |
72 Outperform | $3.92B | 22.79 | 5.43% | 8.30% | -0.51% | -8.63% | |
68 Neutral | $2.22B | 59.24 | 1.94% | 3.98% | 6.83% | 23.48% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
62 Neutral | $2.96B | ― | -6.59% | 13.10% | -2.20% | -280.33% |
* Real Estate Sector Average
RHP
Ryman
125.15
31.15
33.14%
DRH
Diamondrock
12.31
5.01
68.68%
SHO
Sunstone Hotel
11.91
3.55
42.43%
HST
Host Hotels & Resorts
25.01
10.17
68.51%
APLE
Apple Hospitality REIT
16.59
5.85
54.53%
PK
Park Hotels & Resorts
14.72
5.46
58.89%
Ryman Corporate Events
Executive/Board ChangesShareholder Meetings
Ryman Shareholders Back Directors, Executive Pay and Auditor
Positive
May 8, 2026
On May 7, 2026, Ryman Hospitality Properties, Inc. held its annual meeting of stockholders, with 59.1 million of 63.1 million eligible shares represented, and shareholders elected ten director nominees to the company’s board with strong majo...
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.