Ryman Hospitality Properties, Inc. RHP

Real estate SIC 6798 - Real Estate Investment Trusts NAICS Real Estate and Rental and Leasing › Real Estate › Lessors of Real Estate derived NYSE

Ryman is the successor to Gaylord Entertainment Company ("Gaylord"), a Delaware corporation originally incorporated in 1956. As part of the plan to restructure our business operations to facilitate our qualification as a REIT for federal income tax purposes, Gaylord merged with and into its wholly-owned subsidiary, Ryman, on October 1, 2012, with Ryman as the surviving corporation, and Ryman succeeded to and began conducting, either directly or indirectly, all of the business conducted by Gaylord immediately prior to the merger. Ryman is a Delaware corporation that began operating as a self-advised and self-administered REIT for federal income tax purposes on January 1, 2013. We specialize in group-oriented, destination hotel assets in urban and resort markets. As a REIT, we generally will not be subject to federal corporate income taxes on that portion of our capital gain or ordinary income from our REIT operations that is distributed to our stockholders. This treatment substantially eliminates the federal "double taxation" on earnings from our REIT operations, or taxation once at the corporate level and again at the stockholder level, that generally results from investment in a regular C corporation. Our non-REIT operations, which consist of the activities of our TRSs that lease or sublease our hotels from our Operating Partnership (as defined below) and its subsidiaries, as well as businesses within our Entertainment segment, continue to be subject, as applicable, to federal and state corporate income taxes.

Last close 130.38 2026-10-23
Market cap $8.23B 2026-06-30 share count
52-week range 83.82 - 137.46

Valuation FY2025 figures against the last close

P/S3.2x
P/E34.6x
P/FCF35.4x
EV/EBITDA11.0x
Dividend yield3.5%
Diluted EPS3.77

Where the revenue comes from as reported in the latest 10-K

Revenue by segment

  • Hospitality
  • Entertainment
Revenue by segment, 2 categories over 3 years. The same figures are in the table below. FY2025 Hospitality, FY2025: 2.1B (83.2%) 83% Hospitality Entertainment, FY2025: 434M (16.8%) 17% Entertainment FY2024 Hospitality, FY2024: 2B (85.4%) 85% Entertainment, FY2024: 342.2M (14.6%) 15% FY2023 Hospitality, FY2023: 1.8B (85.0%) 85% Entertainment, FY2023: 324.7M (15.0%) 15%
Segment FY2025FY2024FY2023
Hospitality $2.14B $2.00B $1.83B
Entertainment $434.0M $342.2M $324.7M

As the company reported it, from the “Financial Reporting By Business Segments - Internal Financial Reports (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $2.58B$2.34B$2.16B$1.81B$939.4M$524.5M$1.60B$1.28B$1.18B$1.15B
Cost of revenue $1.44B$1.32B$1.23B$1.04B$620.9M$472.8M$957.2M$771.2M$733.6M$722.4M
Gross profit $1.14B$1.01B$932.7M$768.3M$318.5M$51.6M$647.4M$503.9M$451.1M$426.8M
SG&A $42.8M$41.8M$42.8M$43.0M$38.6M$28.8M$36.3M$30.8M$31.4M$26.9M
Total operating expenses $2.09B$1.85B$1.70B$1.48B$998.0M$828.3M$1.34B$1.06B$998.8M$933.8M
Operating income $487.0M$490.8M$453.7M$327.1M-$58.7M-$303.8M$267.5M$214.3M$185.9M$215.4M
Interest expense $241.3M$225.4M$211.4M$148.4M$125.3M$115.8M$131.6M$75.0M$66.1M$63.9M
Pre-tax income $254.6M$294.0M$248.1M$173.7M-$189.8M-$433.7M$146.8M$276.4M$126.9M$162.8M
Income tax $7.3M$13.8M$93.7M$38.8M$5.0M$27.1M$18.5M$11.7M$49.2M$3.4M
Net income $243.4M$271.6M$311.2M$134.9M-$194.8M-$460.8M$128.3M$264.7M$176.1M$159.4M
EPS, basic 3.944.545.392.34-3.21-7.592.825.163.443.12
EPS, diluted 3.774.385.362.33-3.21-7.592.815.143.433.11
Shares, diluted (wtd. avg.) 66.0M63.6M58.1M55.4M55.0M55.0M52.0M51.5M51.4M51.3M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $471.4M$477.7M$591.8M$444.3M$163.0M$79.8M$420.4M$149.1M$78.7M$81.2M
Inventory $16.9M$16.1M$14.0M$12.0M$8.4M$7.2M$10.3M$9.8M$8.1M$8.1M
Property, plant and equipment $4.97B$4.12B$3.96B$3.17B$3.03B$3.12B$3.13B$3.15B$2.07B$2.00B
Other intangibles $63.6M$116.4M$124.3M$106.0M$126.8M$167.0M$207.1M$246.8M$4.3M—
Total assets $6.18B$5.22B$5.19B$4.04B$3.58B$3.56B$4.09B$3.85B$2.52B$2.41B
Long-term debt ————————$1.62B$1.52B
Total liabilities $4.97B$4.28B$4.27B$3.63B$3.60B$3.24B$3.22B———
Retained earnings ——-$894.3M-$978.6M-$1.09B-$911.1M-$495.5M-$388.5M-$479.2M-$491.8M
Total equity $750.2M$549.0M$572.8M$95.9M-$22.4M$219.8M$644.7M$469.6M$378.2M$368.0M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $590.6M$576.5M$557.1M$419.9M$111.3M-$161.5M$354.7M$321.9M$295.8M$293.6M
Depreciation and amortisation $262.2M$226.8M$203.3M$184.7M$178.8M$173.3M$172.2M$119.5M$110.4M$108.1M
Stock-based compensation $14.1M$13.9M$15.4M$15.0M$12.1M$8.7M$7.8M$7.7M$6.6M$6.1M
Capital expenditure $358.2M$407.9M$206.8M$89.5M$77.4M$165.5M$152.5M$188.2M$182.6M$118.0M
Investing cash flow -$1.23B-$410.4M-$1.01B-$189.3M-$289.7M-$172.6M-$163.0M-$423.3M-$215.4M-$179.5M
Financing cash flow $567.3M-$290.3M$711.9M$50.7M$261.7M-$6.5M$79.7M$171.8M-$82.9M-$111.5M
Dividends paid $285.6M$266.1M$176.0M$5.9M$502.0K$102.3M$183.3M$172.4M$161.7M$151.2M
Buybacks —————————$24.8M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-019035.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -1B 0 1B 2B 3B Revenue, FY2016: 1.1B Gross profit, FY2016: 426.8M Net income, FY2016: 159.4M Revenue, FY2017: 1.2B Gross profit, FY2017: 451.1M Net income, FY2017: 176.1M Revenue, FY2018: 1.3B Gross profit, FY2018: 503.9M Net income, FY2018: 264.7M Revenue, FY2019: 1.6B Gross profit, FY2019: 647.4M Net income, FY2019: 128.3M Revenue, FY2020: 524.5M Gross profit, FY2020: 51.6M Net income, FY2020: -460.8M Revenue, FY2021: 939.4M Gross profit, FY2021: 318.5M Net income, FY2021: -194.8M Revenue, FY2022: 1.8B Gross profit, FY2022: 768.3M Net income, FY2022: 134.9M Revenue, FY2023: 2.2B Gross profit, FY2023: 932.7M Net income, FY2023: 311.2M Revenue, FY2024: 2.3B Gross profit, FY2024: 1B Net income, FY2024: 271.6M Revenue, FY2025: 2.6B Gross profit, FY2025: 1.1B Net income, FY2025: 243.4M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $1.15B $1.18B $1.28B $1.60B $524.5M $939.4M $1.81B $2.16B $2.34B $2.58B
Gross profit $426.8M $451.1M $503.9M $647.4M $51.6M $318.5M $768.3M $932.7M $1.01B $1.14B
Net income $159.4M $176.1M $264.7M $128.3M -$460.8M -$194.8M $134.9M $311.2M $271.6M $243.4M

Recent filings and events

  • Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Material agreement signed Item 1.01
  • Material agreement signed Item 1.01
  • Regulation FD disclosure Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Material agreement signed Item 1.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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