Latest Ratios: P/E Ratio 33.8x · EV/EBITDA 15.4x · ROE 22.7%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $8.0B | $6.2B | $6.6B | $6.4B | $4.5B | $5.1B | $3.7B | $4.5B | $3.4B | $3.5B | $3.2B |
| Enterprise Value | $11.8B | $10.0B | $9.7B | $9.3B | $7.2B | $8.0B | $6.5B | $6.8B | $5.8B | $5.1B | $4.7B |
| P/E Ratio → | 33.76 | 25.10 | 23.82 | 20.53 | 35.10 | — | — | 35.09 | 12.97 | 20.12 | 20.26 |
| P/S Ratio | 3.12 | 2.42 | 2.84 | 2.96 | 2.51 | 5.39 | 7.10 | 2.81 | 2.69 | 2.99 | 2.81 |
| P/B Ratio | 6.93 | 5.15 | 7.10 | 6.96 | 11.11 | — | 11.61 | 5.20 | 4.54 | 1.79 | 1.72 |
| P/FCF | 34.56 | 26.85 | 39.38 | 18.24 | 13.71 | 56.72 | 379.17 | 8.81 | 10.67 | 11.99 | 11.01 |
| P/OCF | 13.60 | 10.57 | 11.52 | 11.47 | 10.78 | 45.50 | — | 12.70 | 10.67 | 11.99 | 11.01 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.89 | 4.14 | 4.31 | 3.98 | 8.49 | 12.47 | 4.24 | 4.53 | 4.29 | 4.07 |
| EV / EBITDA | 15.43 | 13.09 | 13.32 | 13.99 | 13.41 | 49.31 | — | 14.14 | 4.53 | 4.42 | 4.07 |
| EV / EBIT | 24.22 | 20.24 | 19.74 | 20.25 | 22.30 | — | — | 24.46 | 16.43 | 26.32 | 20.63 |
| EV / FCF | — | 43.18 | 57.39 | 26.56 | 21.74 | 89.32 | 665.76 | 13.31 | 17.93 | 17.17 | 15.93 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 9.9% | 9.9% | 36.1% | 32.9% | 32.1% | 21.4% | -5.1% | 32.5% | 30.9% | 31.0% | 30.7% |
| Operating Margin | 18.9% | 18.9% | 21.0% | 21.0% | 18.1% | -6.2% | -57.9% | 16.7% | 16.8% | 15.6% | 18.6% |
| Net Profit Margin | 9.4% | 9.4% | 11.6% | 14.4% | 7.1% | -18.8% | -79.6% | 9.1% | 20.8% | 14.9% | 13.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 22.7% | 22.7% | 29.3% | 47.0% | 66.9% | -118.6% | -70.3% | 18.0% | 19.3% | 9.1% | 14.1% |
| ROA | 4.3% | 4.3% | 5.2% | 6.7% | 3.4% | -5.0% | -10.9% | 3.7% | 8.3% | 7.1% | 6.7% |
| ROIC | 8.2% | 8.2% | 9.4% | 9.9% | 8.2% | -1.5% | -7.2% | 6.4% | 4.9% | 4.0% | 6.3% |
| ROCE | 9.0% | 9.0% | 10.5% | 10.9% | 9.7% | -1.8% | -8.5% | 7.3% | 7.3% | 8.2% | 9.8% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 3.54 | 3.54 | 3.76 | 3.82 | 7.33 | — | 8.95 | 3.08 | 3.23 | 0.80 | 0.80 |
| Debt / EBITDA | 5.60 | 5.60 | 4.84 | 5.27 | 5.58 | 18.87 | — | 5.54 | 1.92 | 1.39 | 1.31 |
| Net Debt / Equity | — | 3.13 | 3.25 | 3.17 | 6.51 | — | 8.77 | 2.66 | 3.09 | 0.77 | 0.77 |
| Net Debt / EBITDA | 4.95 | 4.95 | 4.18 | 4.38 | 4.95 | 18.00 | — | 4.79 | 1.83 | 1.34 | 1.26 |
| Debt / FCF | — | 16.33 | 18.01 | 8.32 | 8.03 | 32.60 | 286.59 | 4.50 | 7.26 | 5.18 | 4.92 |
| Interest Coverage | 2.06 | 2.06 | 2.17 | 2.17 | 2.17 | -0.51 | -2.75 | 2.12 | 4.69 | 2.92 | 3.55 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 73.13 | 73.13 | 1.50 | 1.77 | 1.71 | 0.73 | 1.18 | 2.25 | 1.06 | 1.17 | 0.91 |
| Quick Ratio | 73.13 | 73.13 | 1.47 | 1.74 | 1.68 | 0.72 | 1.15 | 2.22 | 1.03 | 1.13 | 0.87 |
| Cash Ratio | 66.07 | 66.07 | 0.89 | 1.11 | 0.84 | 0.28 | 0.28 | 1.15 | 0.32 | 0.26 | 0.29 |
| Asset Turnover | — | 0.42 | 0.45 | 0.42 | 0.45 | 0.26 | 0.15 | 0.39 | 0.33 | 0.47 | 0.48 |
| Inventory Turnover | — | — | 92.67 | 103.46 | 101.84 | 88.26 | 77.01 | 104.93 | 89.64 | 101.50 | 98.75 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.4% | 4.6% | 4.0% | 2.8% | 0.1% | 0.0% | 2.7% | 4.1% | 5.0% | 4.6% | 4.7% |
| Payout Ratio | 117.3% | 117.3% | 98.0% | 56.6% | 4.5% | — | — | 125.8% | 65.1% | 91.8% | 94.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.0% | 4.0% | 4.2% | 4.9% | 2.8% | — | — | 2.9% | 7.7% | 5.0% | 4.9% |
| FCF Yield | 2.9% | 3.7% | 2.5% | 5.5% | 7.3% | 1.8% | 0.3% | 11.4% | 9.4% | 8.3% | 9.1% |
| Buyback Yield | 0.0% | 0.0% | 0.2% | 0.0% | 0.0% | 0.1% | 0.0% | 0.0% | 0.1% | 0.1% | 0.8% |
| Total Shareholder Yield | 3.4% | 4.6% | 4.2% | 2.8% | 0.1% | 0.1% | 2.8% | 4.1% | 5.1% | 4.7% | 5.4% |
| Shares Outstanding | — | $66M | $64M | $58M | $55M | $55M | $55M | $52M | $52M | $51M | $51M |
High Debt-to-Equity Leverage
According to recent market data, RHP trades at a P/FFO multiple of approximately 18.37x as of 2025Q4, which suggests that investors are pricing in a premium for the company's unique convention-centric moat despite the significant volatility observed in its quarterly earnings and cash flow generation.
The current valuation appears to hinge on the market's belief in the long-term durability of the Gaylord brand's group-booking model. However, the lack of consistent FFO growth and the sensitivity to interest rates warrant caution, as the implied cap rate may not fully account for the high maintenance capital requirements inherent in such massive physical assets.
As reported in financial statements, NOI margins have exhibited significant volatility, dropping from 38.7% in 2024Q2 to 11.0% by 2025Q4, which indicates that rising labor and utility costs are effectively neutralizing the pricing power typically associated with the company's large-scale convention center assets.
The inability to maintain stable property-level margins suggests that the high fixed-cost structure of the resort portfolio is highly sensitive to inflationary pressures. Investors should monitor whether management can implement sufficient operational efficiencies to offset these headwinds, as current profitability trends appear strained.
Based on quarterly filings, the FFO payout ratio has fluctuated significantly, reaching 67.5% in 2025Q3, which suggests that the dividend's sustainability is closely tied to the company's ability to manage seasonal booking cycles and unpredictable capital expenditure demands across its expansive resort portfolio.
While the payout ratio remains within a manageable range on an FFO basis, the stark difference between FFO and AFFO indicates that the dividend is less secure when accounting for the heavy maintenance CAPEX required to keep the properties competitive. This discrepancy warrants further investigation into the company's long-term cash flow conversion efficiency.
As indicated by the reported debt-to-equity ratio of 3.54 in 2025Q4, RHP maintains a highly leveraged balance sheet that limits its capacity for further expansion without potentially compromising its credit profile or increasing sensitivity to rising interest rates in the current macroeconomic environment.
The reliance on debt to fund the massive physical footprint of the Gaylord properties creates a structural risk, particularly if interest coverage ratios continue to hover near the 2.15x level. This leverage profile suggests that the company has limited room for error in its capital allocation strategy.
Market participants frequently misapply the standard P/E ratio to RHP, which obscures the company's true economic performance by failing to account for the massive non-cash depreciation charges inherent in its large-scale real estate assets, as noted in recent institutional research.
Using P/E for a REIT like RHP is fundamentally misleading because it ignores the significant gap between GAAP net income and actual cash-generating capacity. Analysts should prioritize FFO or AFFO multiples to better understand the company's valuation relative to its ability to fund dividends and capital reinvestment.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying RHP stock.
Ryman Hospitality Properties, Inc.'s current P/E ratio is 33.8x. The historical average is 31.5x. This places it at the 68th percentile of its historical range.
Ryman Hospitality Properties, Inc.'s current EV/EBITDA is 15.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 20.1x.
Ryman Hospitality Properties, Inc.'s return on equity (ROE) is 22.7%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 6.0%.
Based on historical data, Ryman Hospitality Properties, Inc. is trading at a P/E of 33.8x. This is at the 68th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Ryman Hospitality Properties, Inc.'s current dividend yield is 3.40% with a payout ratio of 117.3%.
Ryman Hospitality Properties, Inc. has 9.9% gross margin and 18.9% operating margin. Operating margin between 10-20% is typical for established companies.
Ryman Hospitality Properties, Inc.'s Debt/EBITDA ratio is 5.6x, indicating high leverage. A ratio above 4x may signal elevated financial risk.