NYSE : RHP
Ryman Hospitality Properties, Inc. — Financial statements
Real Estate · REIT - Hotel & Motel · United States
Last price 133.18 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 9.14B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Rental Revenue | 865.30M | 799.31M | 744.59M | 701.14M | 595.54M | 328.87M |
| Other Revenue | 1.87B | 1.77B | 1.59B | 1.44B | 1.20B | 601.54M |
| Total Revenue | 2.73B | 2.57B | 2.34B | 2.14B | 1.80B | 930.41M |
| Property Expenses | 1.77B | 1.69B | 1.50B | 1.38B | 1.17B | 702.47M |
| Selling, General & Administrative | 122.27M | 121.27M | 113.22M | 107.79M | 98.08M | 74.80M |
| Depreciation & Amortization | 300.20M | 278.10M | 235.63M | 211.23M | 208.62M | 220.36M |
| Other Operating Expenses | 1.11M | -470.00K | ||||
| Total Operating Expenses | 2.20B | 2.09B | 1.85B | 1.70B | 1.48B | 997.89M |
| Operating Income | 535.11M | 478.28M | 490.84M | 436.38M | 315.54M | -67.48M |
| Interest Expense | -256.45M | -241.27M | -225.40M | -211.37M | -148.41M | -125.35M |
| Interest & Investment Income | 18.17M | 20.30M | 27.98M | 21.42M | 5.75M | 5.68M |
| Other Non-Operating Income | 1.22M | 1.54M | 2.81M | 3.92M | 2.86M | -65.00K |
| EBT Excluding Unusual Items | 298.06M | 258.85M | 296.24M | 250.35M | 175.74M | -187.21M |
| Gain (Loss) on Sale of Assets | -1.30M | -1.30M | 270.00K | -469.00K | 317.00K | |
| Other Unusual Items | -2.58M | -2.92M | -2.48M | -2.25M | -1.55M | -2.95M |
| Pretax Income | 294.18M | 254.63M | 294.03M | 248.10M | 173.72M | -189.84M |
| Income Tax Expense | 14.28M | 7.32M | 13.84M | -93.70M | 38.77M | 4.96M |
| Earnings From Continuing Operations | 279.90M | 247.31M | 280.19M | 341.80M | 134.95M | -194.80M |
| Minority Interest in Earnings | -7.97M | -3.88M | -8.55M | -30.58M | -5.96M | 17.84M |
| Net Income | 271.94M | 243.43M | 271.64M | 311.22M | 128.99M | -176.97M |
| Net Income to Common | 271.94M | 243.43M | 271.64M | 311.22M | 128.99M | -176.97M |
| Basic Shares Outstanding | 63.05M | 61.83M | 59.86M | 57.75M | 55.14M | 55.05M |
| Diluted Shares Outstanding | 67.57M | 65.96M | 63.63M | 58.06M | 55.38M | 55.05M |
| EPS (Basic) | 4.31 | 3.94 | 4.54 | 5.39 | 2.34 | -3.21 |
| EPS (Diluted) | 4.11 | 3.77 | 4.38 | 5.36 | 2.33 | -3.21 |
| Dividend Per Share | 4.75 | 4.65 | 4.45 | 3.85 | 0.35 | |
| Operating Margin | 19.57% | 18.63% | 20.98% | 20.38% | 17.58% | -7.25% |
| Profit Margin | 9.95% | 9.48% | 11.61% | 14.54% | 7.19% | -19.02% |
| EBITDA | 835.32M | 756.38M | 726.47M | 647.60M | 524.15M | 152.87M |
| EBITDA Margin | 30.55% | 29.47% | 31.05% | 30.25% | 29.20% | 16.43% |
| D&A For Ebitda | 300.20M | 278.10M | 235.63M | 211.23M | 208.62M | 220.36M |
| EBIT | 535.11M | 478.28M | 490.84M | 436.38M | 315.54M | -67.48M |
| EBIT Margin | 19.57% | 18.63% | 20.98% | 20.38% | 17.58% | -7.25% |
| Funds From Operations (FFO) | 561.22M | 510.56M | 500.02M | 517.39M | 335.16M | 30.91M |
| FFO Per Share | 8.50 | 7.93 | 8.05 | 8.85 | ||
| Adjusted Funds From Operations (AFFO) | 539.59M | 527.82M | 473.13M | 363.50M | 52.03M | |
| AFFO Per Share | 9.14 | 8.46 | 8.54 | 8.09 | ||
| FFO Payout Ratio | 53.38% | 55.93% | 53.22% | 34.02% | 1.75% | 1.62% |
| Effective Tax Rate | 4.85% | 2.88% | 4.71% | 22.32% | ||
| Revenue as Reported | 2.74B | 2.58B | 2.34B | 2.16B | 1.81B | 939.37M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Property, Plant & Equipment | 5.08B | 5.01B | 4.15B | 3.97B | 3.19B | 3.04B |
| Cash & Equivalents | 366.12M | 471.42M | 477.69M | 591.83M | 334.19M | 140.69M |
| Accounts Receivable | 122.12M | 105.90M | 94.18M | 110.03M | 116.84M | 74.75M |
| Other Receivables | 31.68M | 34.78M | 34.32M | 22.18M | 21.46M | |
| Other Intangible Assets | 277.59M | 286.70M | 116.38M | 124.29M | 105.95M | 126.80M |
| Loans Receivable Current | 53.63M | 53.50M | 57.80M | 61.76M | 67.63M | 71.23M |
| Restricted Cash | 31.70M | 28.76M | 98.53M | 108.61M | 110.14M | 22.31M |
| Other Current Assets | 207.43M | 50.76M | 43.01M | 36.47M | 31.42M | 32.73M |
| Trading Asset Securities | 3.84M | 713.00K | 11.35M | |||
| Deferred Long-Term Tax Assets | 51.15M | 67.67M | 70.51M | 81.62M | ||
| Deferred Long-Term Charges | 5.36M | 6.16M | 8.42M | 5.76M | ||
| Other Long-Term Assets | 66.93M | 72.06M | 57.47M | 44.55M | 48.86M | |
| Total Assets | 6.19B | 6.18B | 5.22B | 5.19B | 4.04B | 3.58B |
| Current Portion of Long-Term Debt | 7.24M | 386.00K | 474.00K | |||
| Current Portion of Leases | 13.86M | 11.13M | ||||
| Long-Term Debt | 3.97B | 3.97B | 3.38B | 3.38B | 2.86B | 2.95B |
| Long-Term Leases | 149.82M | 148.28M | 135.17M | 129.26M | 126.44M | 114.65M |
| Accounts Payable | 296.33M | 43.41M | 58.37M | 57.03M | 38.63M | 31.73M |
| Accrued Expenses | 253.70M | 235.18M | 247.93M | 210.05M | 156.17M | |
| Current Unearned Revenue | 209.20M | 220.60M | 173.03M | 159.76M | 136.48M | 116.82M |
| Other Current Liabilities | 78.23M | 78.82M | 71.44M | 67.93M | 14.12M | 386.00K |
| Long-Term Deferred Tax Liabilities | 12.91M | 4.67M | ||||
| Other Long-Term Liabilities | 240.29M | 225.99M | 218.43M | 213.11M | 210.01M | 213.13M |
| Total Liabilities | 4.96B | 4.97B | 4.28B | 4.27B | 3.63B | 3.60B |
| Common Stock | 631.00K | 630.00K | 599.00K | 597.00K | 552.00K | 551.00K |
| Additional Paid-In Capital | 1.71B | 1.72B | 1.48B | 1.50B | 1.10B | 1.11B |
| Distributions in Excess of Earnings | -921.81M | -933.25M | -888.13M | -894.26M | -978.62M | -1.09B |
| Treasury Stock | -27.57M | -26.79M | -23.53M | -20.51M | -18.47M | -18.47M |
| Comprehensive Income & Other | -9.86M | -12.77M | -15.17M | -19.39M | -10.92M | -29.08M |
| Total Common Equity | 748.32M | 750.15M | 548.98M | 569.15M | 95.28M | -22.23M |
| Minority Interest | 486.88M | 461.62M | 385.60M | 348.75M | 312.48M | -159.00K |
| Shareholders' Equity | 1.24B | 1.21B | 934.58M | 917.90M | 407.76M | -22.39M |
| Total Liabilities & Equity | 6.19B | 6.18B | 5.22B | 5.19B | 4.04B | 3.58B |
| Total Debt | 4.13B | 4.14B | 3.51B | 3.51B | 2.99B | 3.06B |
| Net Cash (Debt) | -3.76B | -3.66B | -3.04B | -2.92B | -2.64B | -2.92B |
| Net Cash Per Share | -55.69 | -55.55 | -47.72 | -50.22 | -47.74 | -53.03 |
| Filing Date Shares Outstanding | 62.38M | 62.28M | 59.21M | 59.04M | 54.52M | 54.42M |
| Total Common Shares Outstanding | 62.38M | 62.28M | 59.21M | 59.04M | 54.52M | 54.42M |
| Book Value Per Share | 12.00 | 12.05 | 9.27 | 9.64 | 1.75 | -0.41 |
| Tangible Book Value | 470.73M | 463.45M | 432.60M | 444.87M | -10.68M | -149.04M |
| Tangible Book Value Per Share | 7.55 | 7.44 | 7.31 | 7.53 | -0.20 | -2.74 |
| Land | 738.79M | 731.50M | 613.87M | 605.50M | 443.47M | 378.60M |
| Buildings | 5.37B | 5.26B | 4.59B | 4.40B | 3.79B | 3.60B |
| Construction In Progress | 238.01M | 185.28M | 110.90M | 122.92M | 50.31M | 14.34M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 271.94M | 243.43M | 271.64M | 311.22M | 128.99M | -176.97M |
| Depreciation & Amortization | 300.20M | 278.10M | 235.63M | 211.23M | 208.62M | 220.36M |
| Other Amortization | 12.67M | 11.93M | 10.65M | 10.66M | 9.83M | 8.79M |
| Stock-Based Compensation | 14.57M | 14.06M | 13.89M | 15.42M | 14.98M | 12.10M |
| Income (Loss) on Equity Investments | 9.99M | 10.03M | -275.00K | 17.31M | 10.97M | 8.96M |
| Change in Accounts Receivable | 6.99M | 2.16M | 15.85M | 21.55M | -40.69M | -54.64M |
| Change in Accounts Payable | 53.40M | 12.29M | 13.86M | 41.52M | 66.43M | 107.01M |
| Change in Other Net Operating Assets | 4.55M | 12.32M | -3.48M | -6.61M | 6.60M | -539.00K |
| Other Operating Activities | 17.54M | 6.32M | 18.75M | -65.24M | 14.20M | -13.83M |
| Operating Cash Flow | 691.85M | 590.63M | 576.51M | 557.06M | 419.93M | 111.25M |
| Acquisition of Real Estate Assets | -417.19M | -358.24M | -407.90M | -206.78M | -89.52M | -99.43M |
| Net Sale / Acq. of Real Estate Assets | -417.19M | -358.24M | -407.90M | -206.78M | -89.52M | -99.43M |
| Cash Acquisition | -861.96M | -791.47M | -93.99M | -188.00M | ||
| Investment in Marketable & Equity Securities | -10.50M | -10.00M | -8.50M | |||
| Other Investing Activities | 3.98M | -13.78M | -2.50M | -4.07M | 4.20M | 6.19M |
| Investing Cash Flow | -413.21M | -1.23B | -410.40M | -1.01B | -189.31M | -289.74M |
| Long-Term Debt Issued | 758.13M | 1.37B | 905.00M | 288.00M | 684.00M | |
| Long-Term Debt Repaid | -161.88M | -1.36B | -384.51M | -497.27M | -405.00M | |
| Net Debt Issued (Repaid) | -7.24M | 596.25M | 11.89M | 520.49M | -209.27M | 279.00M |
| Issuance of Common Stock | 275.53M | 395.44M | ||||
| Repurchase of Common Stock | -5.49M | -5.54M | -12.30M | -4.39M | -4.48M | -3.48M |
| Common Dividends Paid | -299.59M | -285.58M | -266.11M | -176.00M | -5.86M | -502.00K |
| Other Financing Activities | -19.21M | -13.37M | -23.79M | -23.67M | 270.31M | -13.28M |
| Net Cash Flow | -52.88M | -76.05M | -124.21M | 256.11M | 281.33M | 83.25M |
| Levered Free Cash Flow | 567.98M | 568.43M | 454.32M | 508.32M | 306.33M | 168.19M |
| Unlevered Free Cash Flow | 715.59M | 707.30M | 584.54M | 629.77M | 389.26M | 237.74M |
| Cash Interest Paid | 225.49M | 225.49M | 203.09M | 181.00M | 135.28M | 110.75M |
| Cash Income Tax Paid | 1.84M | 1.84M | 3.02M | 6.49M | 27.00M | 500.00K |
| Change in Working Capital | 64.94M | 26.78M | 26.22M | 56.46M | 32.34M | 51.83M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 9.26B | 5.89B | 6.18B | 6.50B | 4.46B | 5.00B |
| Enterprise Value | 13.02B | 9.99B | 9.52B | 9.80B | 7.50B | 8.02B |
| Last Close Price | 134.90 | 91.62 | 96.19 | 97.29 | 69.31 | 77.60 |
| Price/FFO Ratio | 14.98 | 11.55 | 11.95 | 10.99 | ||
| Price/AFFO Ratio | 13.93 | 10.83 | 11.26 | 12.03 | ||
| PE Ratio | 32.85 | 24.21 | 22.74 | 20.89 | 34.56 | |
| PS Ratio | 3.39 | 2.30 | 2.64 | 3.04 | 2.48 | 5.38 |
| PB Ratio | 11.25 | 4.86 | 6.61 | 7.08 | 10.93 | -223.48 |
| P/OCF Ratio | 13.38 | 9.98 | 10.72 | 11.67 | 10.62 | 44.98 |
| EV/Sales Ratio | 4.76 | 3.89 | 4.07 | 4.58 | 4.18 | 8.62 |
| EV/EBITDA Ratio | 15.59 | 13.21 | 13.11 | 15.13 | 14.31 | 52.43 |
| EV/EBIT Ratio | 24.34 | 20.90 | 19.40 | 22.45 | 23.78 | |
| Debt / Equity Ratio | 3.35 | 3.41 | 3.76 | 3.82 | 7.33 | -136.65 |
| Debt / EBITDA Ratio | 4.81 | 5.31 | 4.71 | 5.27 | 5.54 | 18.43 |
| Net Debt / Equity Ratio | 3.05 | 3.02 | 3.25 | 3.18 | 6.48 | -130.37 |
| Net Debt / EBITDA Ratio | 4.50 | 4.84 | 4.18 | 4.50 | 5.04 | 19.10 |
| Asset Turnover | 0.44 | 0.45 | 0.45 | 0.46 | 0.47 | 0.26 |
| Inventory Turnover | 102.00 | 99.21 | 106.28 | 114.76 | 90.49 | |
| Quick Ratio | 0.82 | 0.99 | 1.13 | 1.38 | 1.21 | 0.78 |
| Current Ratio | 1.31 | 1.21 | 1.50 | 1.77 | 1.74 | 1.19 |
| Return on Equity (ROE) | 22.58% | 23.04% | 30.25% | 51.57% | 70.04% | -130.57% |
| Return on Assets (ROA) | 5.44% | 5.24% | 5.90% | 5.91% | 5.17% | -1.18% |
| Return on Invested Capital (ROIC) | 9.51% | 9.48% | 10.54% | 11.16% | 7.22% | |
| Earnings Yield | 3.04% | 4.13% | 4.40% | 4.79% | 2.89% | -3.54% |
| Dividend Yield | 3.56% | 4.91% | 4.26% | 3.50% | 0.43% | |
| Payout Ratio | 116.87% | 117.32% | 97.97% | 56.55% | 4.54% | |
| Buyback Yield / Dilution | -5.25% | -3.65% | -9.59% | -4.85% | -0.60% | -0.15% |
| Total Shareholder Return | -1.69% | 1.26% | -5.33% | -1.35% | -0.17% | -0.15% |