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what it is
Ryman owns big convention hotels and Nashville entertainment assets, then collects cash from rooms, events, and tickets.
how it gets paid
Last year Ryman Hospitality made $2.6B in revenue. group rooms was the main engine at $1.14B, or 44% of sales.
why it's growing
Revenue grew 10.2% last year. The 16.84% EPS beat matters because it shows Ryman can still out-earn expectations even while comparable hotel demand looks less clean than the headline suggests.
what just happened
Ryman's latest quarter beat on EPS, with $1.11 versus the $0.95 estimate.
At a glance
B+ balance sheet — decent shape, but not bulletproof
10/100 earnings predictability — expect surprises
27.4x trailing p/e — priced about right
4.9% dividend yield — cash in your pocket every quarter
10.0% return on capital — nothing to write home about
xvary composite: 55/100 — below average
What they do
Ryman owns big convention hotels and Nashville entertainment assets, then collects cash from rooms, events, and tickets.
Ryman is built around five upscale convention resorts with 11,414 rooms, plus entertainment assets people already know by name. If your event needs thousands of rooms under one roof, your options are limited. That scale helps keep Hospitality at 87% of 2024 revenue, while the entertainment side adds a second cash stream.
How they make money
$2.6B
annual revenue · their business grew +10.2% last year
group rooms
$1.14B
+8.0%
food and beverage
$0.89B
+6.0%
other hotel revenue
$0.23B
2.0%
live entertainment
$0.27B
+10.2%
attractions and media
$0.07B
+4.0%
The products that matter
owns resorts and event space
Gaylord Resort Portfolio
$2.6B revenue · 100% of sales
it's the entire $2.6B business, and all of it depends on occupancy, group bookings, and event spending holding up.
100% of revenue
Key numbers
4.9%
cash yield
You are paid a 4.9% yield while you wait, and that matters more when FY2026 EPS is estimated at $4.10 and growth is not doing the heavy lifting.
$124
18-month target
That is about 25% above $98.81, so the upside case does not need a miracle. It needs the hotel story to stay intact.
18.9%
operating margin
Operating margin → how much of each sales dollar survives basic business costs → so what: Ryman keeps about 19 cents before interest and taxes.
10.0%
return on capital
Return on capital → profit earned on the money running the business → so what: this is decent, but not high enough to excuse big execution mistakes.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 3 — safer than 50% of stocks
- price stability 65 / 100
- net profit margin 11.2% — keeps 11 cents of every dollar in revenue
- return on equity 35% — $0.35 profit for every $1 investors have put in
B+ — functional but not a standout on the balance sheet.
Total return vs. market
You invested $10,000 in RHP 3 years ago → it's now worth $12,800.
The index would have given you $13,920.
source: institutional data · total return
What just happened
beat estimates
Ryman's latest quarter beat on EPS, with $1.11 versus the $0.95 estimate.
Revenue was $737.8M in Q4 2025, and management said results exceeded internal expectations. The awkward part is that earlier growth was helped by the JW Marriott Desert Ridge acquisition while legacy-property RevPAR trends were softer.
$737.8M
revenue
$1.11
eps
n/a
n/a
the number that mattered
The 16.84% EPS beat matters because it shows Ryman can still out-earn expectations even while comparable hotel demand looks less clean than the headline suggests.
-
ryman hospitality's third-quarter results weakened.however, the moderation in overall profitability and cash flow was less than management and the street expected.
-
revenues of $592 million rose 8% from the prior-year level.
-
nearly all of the increase reflects the acquisition of jw marriott desert ridge in early june.
-
meanwhile, most of ryman's six other properties had comparable revpar (revenue per available room) declines.exceptions included gaylord texan and gaylord national, but their contributions only partly offset an accelerated drop in ebitda at key resorts, including gaylord opryland, its largest.
-
still, the overall operating margin's roughly 250-basis-point fall, to about 28.0%, was an improvement from the second quarter's comparative decline.
source: company earnings report, 2026
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What could go wrong
the top risk is group travel and convention demand. all $2.6B of revenue comes from one hospitality engine.
high
demand slows
RHP runs five resorts with 11,414 rooms. If corporate meetings, conventions, or leisure travel soften, there is no second business line to offset it.
exposes the full $2.6B revenue base
high
earnings remain less predictable than the revenue story
earnings predictability is 10/100. Full-year EPS fell to $3.60 from $4.39 even as revenue grew 10.2% last year.
puts pressure on a 27.4x trailing multiple
med
five-property concentration
The portfolio is specialized, which is part of the appeal. It also means property-level disruption matters more when your footprint is this concentrated.
asset concentration amplifies any operational miss
med
filing-related legal noise
A DEFM14A filing on dec 12, 2025 flagged litigation risk. The filing tells you the issue exists. It does not tell you the economic outcome yet.
worth monitoring, but the demand cycle still matters more
there is no low-cyclicality segment hiding here. a slowdown hits the same $2.6B revenue pool that supports the dividend and the valuation.
source: institutional data · regulatory filings · risk analysis
Pay attention to
margin
whether earnings catch up to revenue
revenue grew 10.2% last year, but full-year EPS fell 18%. You want that gap closing, not widening.
earnings
next quarterly report
watch whether revenue stays above the $592M quarterly run-rate and whether margin improves from 9.4%.
flow
institutional buying streak
institutions have been net buyers for three straight quarters. If that reverses, sentiment may be cooling before the fundamentals say it out loud.
risk
travel and meeting demand
with 100% of revenue tied to hospitality demand, you should treat booking trends and convention spending like first-order variables.
Analyst rankings
short-term outlook
average
momentum score 3 — in human-speak, analysts see a stock moving with the pack, not breaking away from it.
risk profile
average
stability score 3 — this sits near the middle of the market on risk, not in the bunker and not on the rollercoaster.
chart momentum
below average
technical score 4 — the recent setup is weaker than average, which fits a stock that has lagged the index.
earnings predictability
10 / 100
10 / 100 means the earnings line is hard to model. Revenue may look steady while profits still surprise you in the wrong direction.
source: institutional data
Institutional activity
institutions have been net buying for 3 consecutive quarters — 184 buyers vs. 169 sellers in 3q2025. total institutional holdings: 65.6M shares. net buying for 3 quarters.
source: institutional data
Price targets
3-5 year target range
$83
$164
$99
current price
$124
target midpoint · +25% from current · 3-5yr high: $140 (+40% · 13% ann'l return)
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