Ryman Hospitality Properties (RHP) financial statements
Ryman Hospitality Properties reported revenue of $2.6B in fiscal 2025, up 9.4% a year over 9 years.
Net income was $243M and the operating margin 18.9%, against 18.7% in 2016.
Free cash flow was $232M, and the company returned $286M in dividends.
The diluted share count rose 29% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Ryman Hospitality Properties's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.1B | $1.2B | $1.3B | $1.6B | $524M | $939M | $1.8B | $2.2B | $2.3B | $2.6B |
| Cost of revenue | $722M | $734M | $771M | $957M | $473M | $621M | $1.0B | $1.2B | $1.3B | $1.4B |
| Gross profit | $427M | $451M | $504M | $647M | $52M | $318M | $768M | $933M | $1.0B | $1.1B |
| Selling, general and admin | $27M | $31M | $31M | $36M | $29M | $39M | $43M | $43M | $42M | $43M |
| Operating income | $215M | $186M | $214M | $268M | -$304M | -$59M | $327M | $454M | $491M | $487M |
| Interest expense | $64M | $66M | $75M | $132M | $116M | $125M | $148M | $211M | $225M | $241M |
| Pre-tax income | $163M | $127M | $276M | $147M | -$434M | -$190M | $174M | $248M | $294M | $255M |
| Income tax | $3M | -$49M | $12M | $18M | $27M | $5M | $39M | -$94M | $14M | $7M |
| Net income | $159M | $176M | $265M | $146M | -$417M | -$177M | $129M | $311M | $272M | $243M |
| EPS (diluted) | $3.11 | $3.43 | $5.14 | $2.81 | -$7.59 | -$3.21 | $2.33 | $5.36 | $4.38 | $3.77 |
| Diluted shares | 51M | 51M | 52M | 52M | 55M | 55M | 55M | 58M | 64M | 66M |
| Gross margin | 37.1% | 38.1% | 39.5% | 40.3% | 9.8% | 33.9% | 42.5% | 43.2% | 43.4% | 44.1% |
| Operating margin | 18.7% | 15.7% | 16.8% | 16.7% | -57.9% | -6.2% | 18.1% | 21.0% | 21.0% | 18.9% |
| Net margin | 13.9% | 14.9% | 20.8% | 9.1% | -79.6% | -18.8% | 7.1% | 14.4% | 11.6% | 9.4% |
Balance sheet
Fiscal years, from Ryman Hospitality Properties's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $59M | $58M | $103M | $362M | $57M | $141M | $334M | $592M | $478M | $471M |
| Inventory | $8M | $8M | $10M | $10M | $7M | $8M | $12M | $14M | $16M | $17M |
| Property, plant and equipment | $2.0B | $2.1B | $3.1B | $3.1B | $3.1B | $3.0B | $3.2B | $4.0B | $4.1B | $5.0B |
| Total assets | $2.4B | $2.5B | $3.9B | $4.1B | $3.6B | $3.6B | $4.0B | $5.2B | $5.2B | $6.2B |
| Long-term debt | $1.5B | — | — | — | — | — | — | — | — | — |
| Total liabilities | $2.0B | $2.1B | $3.4B | $3.2B | $3.2B | $3.6B | $3.6B | $4.3B | $4.3B | $5.0B |
| Shareholders' equity | $368M | $378M | $470M | $645M | $205M | -$22M | $95M | $569M | $549M | $750M |
| Net debt | $1.4B | -$58M | -$103M | -$362M | -$57M | -$141M | -$334M | -$592M | -$478M | -$471M |
Cash flow
Fiscal years, from Ryman Hospitality Properties's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $294M | $296M | $322M | $355M | -$162M | $111M | $420M | $557M | $577M | $591M |
| Capital spending | $118M | $183M | $188M | $153M | $165M | $77M | $90M | $207M | $408M | $358M |
| Free cash flow | $176M | $113M | $134M | $202M | -$327M | $34M | $330M | $350M | $169M | $232M |
| Stock-based compensation | $6M | $7M | $8M | $8M | $9M | $12M | $15M | $15M | $14M | $14M |
| Dividends paid | $151M | $162M | $172M | $183M | $102M | $502,000 | $6M | $176M | $266M | $286M |
| Share buybacks (net) | -$25M | — | — | — | — | — | — | — | — | — |
| Net borrowing | — | — | — | $702M | — | $600M | — | $400M | $1.0B | $625M |
| Free cash flow margin | 15.3% | 9.6% | 10.5% | 12.6% | -62.3% | 3.6% | 18.3% | 16.2% | 7.2% | 9.0% |
| Dividends per share | $2.95 | $3.15 | $3.35 | $3.53 | $1.86 | $0.01 | $0.11 | $3.03 | $4.18 | $4.33 |
Questions
What was Ryman Hospitality Properties's revenue in 2025?
$2.6B in fiscal 2025, from its 10-K filing.
How much free cash flow does Ryman Hospitality Properties generate?
$232M in fiscal 2025 (operating cash flow minus capital spending).
From Ryman Hospitality Properties's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.