APLE vs RHP: Apple Hospitality REIT and Ryman Hospitality Properties compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Ryman Hospitality Properties is the larger company, worth $8.0B, about 2.0 times Apple Hospitality REIT.
- Ryman Hospitality Properties grew revenue faster over the last year (+13.6% vs +4.7%).
- Ryman Hospitality Properties keeps more of each dollar of revenue as operating profit (19.8% vs 17.9%).
- On earnings, Apple Hospitality REIT is the cheaper stock (22.7x vs 33.3x).
- Ryman Hospitality Properties's price assumes faster free cash flow growth: about 12% a year, against 0% for Apple Hospitality REIT (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | APLE | RHP |
|---|---|---|
| Market cap | $3.9B | $8.0B |
| Share price | $16.31 | $120.28 |
| Revenue (last fiscal year) | $1.4B | $2.6B |
| Free cash flow (last fiscal year) | $283M | $232M |
| Revenue growth, last year | +4.7% | +13.6% |
| Revenue growth per year, last 5 fiscal years | +10.9% | +28.7% |
| Operating margin | 17.9% | 19.8% |
| Net margin | 12.2% | 9.9% |
| Return on equity | 5.6% | 36.3% |
| P/E (trailing) | 22.7x | 33.3x |
| Price / free cash flow | 13.8x | 34.4x |
| EV / EBITDA | 15.1x | 13.6x |
| FCF growth the price implies | 0.17% | 12.1% |
| Dividend yield | 5.9% | 3.8% |
| Debt / equity | 0.55x | 6.62x |
| Fundamental grade | C | C |
| Superinvestors holding it | 2 | 5 |
| Insider purchases, last 12 months | 3 | 4 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Apple Hospitality REIT
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $934M | $199M | 9.3% |
| 2022 | $1.2B | $309M | 16.7% |
| 2023 | $1.3B | $327M | 18.4% |
| 2024 | $1.4B | $325M | 20.5% |
| 2025 | $1.4B | $283M | 18.3% |
Ryman Hospitality Properties
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $939M | $34M | -6.2% |
| 2022 | $1.8B | $330M | 18.1% |
| 2023 | $2.2B | $350M | 21.0% |
| 2024 | $2.3B | $169M | 21.0% |
| 2025 | $2.6B | $232M | 18.9% |
Where the revenue comes from
Apple Hospitality REIT · by products, 2025
Room$1.3B91%
Other$68M5%
Food and Beverage$66M5%
Ryman Hospitality Properties · by segments, 2025
Hospitality$2.1B83%
Entertainment$434M17%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open APLE in InvestinglyQuestions
Which is bigger, Apple Hospitality REIT or Ryman Hospitality Properties?
Ryman Hospitality Properties (RHP), at $8.0B against $3.9B.
Is APLE or RHP cheaper?
By trailing P/E, Apple Hospitality REIT (22.7x) is cheaper than Ryman Hospitality Properties (33.3x). A lower multiple can also mean the market expects less growth.
Which grows faster, APLE or RHP?
Ryman Hospitality Properties: revenue grew +13.6% over the last year, against +4.7%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.