# Ryman Hospitality Properties, Inc. (RHP)

> Source: Nexqual · https://nexqual.com/RHP · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Ryman Hospitality Properties, Inc. (RHP), nexqual.com/RHP" · informational, not investment advice.

**Price:** USD 131.26 (+0.74% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 130.29 · day 129.51–132.05 · 52w 83.82–137.46 · market cap $9.05B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $2.74B, net income $272M (9.9% margin), free cash flow $275M (SEC filings).
- Valuation: P/E 33.3x (avg 23.5x at the last 3 fiscal year-ends).
- 1 of 80 tracked superinvestors hold RHP (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Analysts: Buy (mean 1.79 on a 1–5 scale) (14 analysts), mean target USD 140.14 (range 130–152).
- Total return with dividends: 1Y +57.1% vs S&P 500 +14.9%; 5Y +85.3% vs S&P 500 +80.3%.
- Next earnings: 2026-11-02, EPS estimate USD 0.32, revenue estimate $641M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $939M | $1.81B | $2.16B | $2.34B | $2.58B | $2.74B |
| Gross profit | $318M | $768M | $933M | $1.01B | $1.14B | — |
| Operating income | -$58.7M | $327M | $454M | $491M | $487M | $544M |
| Net income | -$195M | $135M | $311M | $272M | $243M | $272M |
| EPS (diluted) | -$3.21 | $2.33 | $5.36 | $4.38 | $3.77 | — |
| Free cash flow | $33.8M | $330M | $350M | $169M | $232M | $275M |
| Gross margin | 33.9% | 42.5% | 43.2% | 43.4% | 44.1% | — |
| Operating margin | -6.2% | 18.1% | 21.0% | 21.0% | 18.9% | 19.8% |
| Net margin | -20.7% | 7.5% | 14.4% | 11.6% | 9.4% | 9.9% |
| Revenue growth | +79.1% | +92.3% | +19.5% | +8.4% | +10.2% | — |
| Cash + short-term investments | $141M | $334M | $592M | $478M | $471M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 33.3x · P/S 3.3x · P/FCF 33.0x · P/B 12.1x · FCF yield 3.03% · Earnings yield 3.00% · Dividend yield (paid, TTM) 3.31%
P/E at fiscal year-ends: Dec 2025 25.6x, Dec 2024 24.4x, Dec 2023 20.5x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold RHP. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| First Eagle Investment | First Eagle Investment Management | <0.01% | $1.3M | Added +13.5% |

## Analysts
Consensus Buy (mean 1.79 on a 1–5 scale), 14 analysts; mean target USD 140.14 (low 130, high 152).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-21 | JP Morgan | Target raised | Overweight | $129 → $138 |
| 2026-10-13 | Barclays | Target lowered | Overweight | $147 → $143 |
| 2026-09-28 | Raymond James | Target raised | Outperform | $125 → $130 |
| 2026-09-10 | Truist Securities | Target raised | Buy | $132 → $141 |
| 2026-09-09 | Citigroup | Target raised | Buy | $125 → $135 |
| 2026-08-27 | Barclays | Target raised | Overweight | $130 → $147 |
| 2026-08-11 | Cantor Fitzgerald | Target raised | Overweight | $124 → $135 |
| 2026-07-28 | Evercore ISI Group | Target raised | Outperform | $130 → $140 |
| 2026-07-23 | Wells Fargo | Target raised | Overweight | $126 → $136 |
| 2026-07-21 | JP Morgan | Target raised | Overweight | $113 → $129 |
| 2026-07-21 | Barclays | Target raised | Overweight | $120 → $130 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +57.1% | +85.3% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +57.4% | +13.1% |
| Volatility (annualized) | 23.4% | 28.6% |
| Max drawdown | -14.3% (Feb 2026→Mar 2026) | -26.8% (Dec 2024→Mar 2025) |

## Peers (REIT - Hotel & Motel)
HST (Host Hotels & Resorts, Inc.) USD 24.87 -0.88% · APLE (Apple Hospitality REIT, Inc.) USD 18.16 +0.06% · PK (Park Hotels & Resorts Inc.) USD 16.66 -1.94% · DRH (Diamondrock Hospitality Company) USD 13.89 -0.39% · SHO (Sunstone Hotel Investors, Inc. ) USD 12.6 -0.08% · PEB (Pebblebrook Hotel Trust) USD 20.67 -2.04%

## More
Full page: https://nexqual.com/RHP · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Hospitality | $605.0M | 80.8% | +17.2% | $153.6M | 25.4% |
| Entertainment | $144.0M | 19.2% | +0.5% | $32.4M | 22.5% |
| Total revenue | $749.0M | 100% | — | $174.5M | 23.3% |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Food & Beverage | $296.4M | 39.6% | +18.4% |
| Occupancy | $232.4M | 31.0% | +15.7% |
| Hotel Food & Beverage Banquets | $213.2M | 28.5% | +22.2% |
| Hotel Group Rooms | $168.2M | 22.5% | +15.5% |
| Entertainment | $144.0M | 19.2% | +0.5% |
| Hotel Food & Beverage Outlets | $83.2M | 11.1% | +9.7% |
| Hotel Other | $76.2M | 10.2% | +17.3% |
| Hotel Transient Rooms | $64.1M | 8.6% | +16.0% |
| Entertainment Admissions & Ticketing | $61.2M | 8.2% | -6.5% |
| Entertainment Food & Beverage | $49.2M | 6.6% | +7.7% |
| Entertainment Retail & Other | $33.6M | 4.5% | +4.5% |
| Total revenue | $749.0M | 100% | — |
The lines above cover 189.8% of total revenue.

## Company outlook (8-K filed 2026-08-07)

- "The Company is updating its 2026 business performance outlook based on current information as of August 6, 2026."
- "Fioravanti concluded, "We are pleased to raise the midpoints of our 2026 guidance ranges to reflect the stronger second quarter results in our Hospitality portfolio, including JW Marriott Desert Ridge."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.32 | $0.60 | -46.7% | $640.6M | 1 |
| Next quarter (ends 2026-12-31) | $1.35 | $1.25 | +8.0% | $860.9M | 1 |
| Current fiscal year (ends 2026-12-31) | $4.22 | $4.29 | -1.5% | $2.91B | 1 |
| Next fiscal year (ends 2027-12-31) | $4.77 | $4.96 | -3.7% | $3.27B | 1 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-02): ±6.8%; last 8 reports averaged ±3.4%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 30.2% | ±6.8% |
| 2026-12-18 | 56 | 28.5% | ±8.9% |
| 2027-01-15 | 84 | 26.3% | ±10.2% |
| 2027-04-16 | 175 | 25.6% | ±14.2% |