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Ryman Hospitality Properties Inc (RHP) Fair Value & Analysis

Real Estate · US · Market cap $7.9B · ISIN US78377T1079

What is Ryman Hospitality Properties Inc really worth?

RH Ryman Hospitality Properties Inc logo Ryman Hospitality Properties Inc RHP · US
Price$122.25
Fair Value$47.68
Upside−61.0%
Quality33/100

Below-average quality, and trading another 156% above our fair value of $47.68.

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Strengths

Healthy Growth (revenue 5y +37.5 %/yr)

Risks

!Thin margins · 9.5% net margin
!High debt · generates free cash flow
!Mixed vs. peers (6/15)
!Moderate moat 58/100
!The models disagree: range $24.37 to $81.97

For context

·3.84% dividend yield
Evidence: High Range $24.37 – $81.97

Fair value as of: Sep 1, 2026

From 14 valuation models · updated 4 days ago

Share price −4.6% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case ($81.97). The favourable scenario is already priced in.
  • Weak quality (33/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The model range is unusually wide ($24.37 to $81.97). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Price vs Fair Value (5 years)

$135.99 $62.56 Fair Value $47.68 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 1, 2026.

How to read this chart

60‑month range $62.56 – $135.99 · fair‑value band $24.37 – $81.97 · the $122.25 price screens above the $47.68 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 1, 2026.

Full chart & analysis →

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Analysis

Ryman Hospitality Properties Inc (RHP) currently trades at $122.25, while our model-based Fair Value estimate is $47.68, implying the stock looks roughly 156.4% overvalued today. The Quality Score stands at 33/100 (below-average quality), in the Real Estate sector. Bull case: the Multiples group reads highest at a median of $65.57 per share, and 2 of the 14 models we run sit above the $122.25 price. Bear case: the Asset-Based group reads lowest at $7.96, and 12 of the 14 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Ryman Hospitality Properties Inc generated revenue of $2.6B at a net margin of 9.5%. Revenue grew 13.2% year over year. It earns a return on equity of 23.4%. Net debt stands at $3.8B. Fundamentals as of Sep 1, 2026

Our scenario range runs from $24.37 (bear case) to $81.97 (bull case); at $122.25, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 3% below its 52-week high and 50% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at −28% fair-value upside, at −61%, RHP screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF best evidence $16.54 $62.22 77
Growth DCF $14.74 $56.46 75
5Y EBITDA Exit $51.78 $144.97 $260.23 71
All 14 models by family
DCF Models
FCF DCF best evidence $16.54 $62.22 77
5Y Revenue Exit $4.56 $51.17 $113.69 64
5Y EBITDA Exit $51.78 $144.97 $260.23 71
10Y Revenue Exit $37.10 $98.36 64
10Y EBITDA Exit $28.23 $102.88 $214.05 62
Multiples
P/S Multiple $49.18 $65.57 $81.97 58
P/B Multiple $17.83 $23.77 $29.72 55
EV/EBIT $72.59 $115.14 $157.70 64
EV/EBITDA $99.76 $151.37 $202.98 66
EV/Revenue $15.33 $45.51 $75.68 49
Asset-Based
NCAV (Graham) $5.94 $7.96 $11.89 54
Growth DCF
Growth DCF $14.74 $56.46 75
Rev-Margin DCF $4.56 $49.90 $105.88 65
Economic Profit
Residual Income $26.13 $36.76 $288.61 64

Widest divergence: Multiples ($65.57) versus Asset-Based ($7.96). Highest evidence: FCF DCF (77).

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Key figures & financial health

P/E ratio 32.2
P/S ratio 3.04 P/E × margin
EPS (TTM) $3.80 price ÷ EPS = P/E 32.2
Dividend yield 3.8% payout 124%
Net margin 9.4% FY2025
Return on equity 23.4% TTM
More key figures
Profitability
Return on assets (EBIT) 6.5% avg 5y
Operating margin 20.7% TTM
Growth
Revenue (TTM) $2.6B TTM
Revenue growth (YoY) +13.2% 3y avg +12.6%
EPS growth (YoY) +3.5%
Balance sheet & cash flow
Free cash flow $232M FY2025
Net debt $3.8B FY2025 · ≈ 16.3 yrs of FCF

Figures from reported company fundamentals · as of Sep 1, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 33/100

Of which business quality 34 · Market factors (momentum, volatility) 67

Profitability 43
Margins and returns on capital today
Quality Growth 33
Are margins and returns improving?
Cashflow 58
Earnings quality: real cash, not paper profit
Fin. Strength 11
Balance sheet, leverage, solvency risk
Investment 19
Disciplined investing over empire-building
Low Volatility 62
Calm price path (market factor)
Momentum 65
Price trend over the last 3–12 months (market factor)
52W Momentum 77
Distance to the 52-week high (market factor)
Net Issuance 32
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Ryman Hospitality Properties, Inc. is a leading lodging and hospitality real estate investment trust. It specializes in upscale convention center resorts and entertainment experiences.

Full company description

Ryman Hospitality Properties, Inc. is a leading lodging and hospitality real estate investment trust. It specializes in upscale convention center resorts and entertainment experiences. The Company's holdings include Gaylord Opryland Resort & Convention Center; Gaylord Palms Resort & Convention Center; Gaylord Texan Resort & Convention Center; Gaylord National Resort & Convention Center; and Gaylord Rockies Resort & Convention Center, five of the top seven largest non-gaming convention center hotels in the United States based on total indoor meeting space. The Company also owns JW Marriott Phoenix Desert Ridge Resort & Spa and JW Marriott San Antonio Hill Country Resort & Spa as well as two ancillary hotels adjacent to our Gaylord Hotels properties. The Company's hotel portfolio is managed by Marriott International and includes a combined total of 12,364 rooms as well as more than 3 million square feet of total indoor and outdoor meeting space in top convention and leisure destinations across the country. RHP also owns an approximate 70% controlling ownership interest in Opry Entertainment Group (OEG), which is composed of entities owning a growing collection of iconic and emerging country music brands, including the Grand Ole Opry, Ryman Auditorium, WSM 650 AM, Ole Red, Category 10, Nashville-area attractions; Block 21, a mixed-use entertainment, lodging, office and retail complex, including the W Austin Hotel and the ACL Live at the Moody Theater, located in downtown Austin, Texas. OEG manages select outdoor live music venues, including Ascend Federal Credit Union Amphitheater in Nashville and CCNB Amphitheatre in Simpsonville, South Carolina. OEG also has a majority interest in Southern Entertainment, a leading festival and events business. Ryman Hospitality Properties, Inc. was incorporated in 1991 in Delaware and is based in Nashville, Tennessee.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Ryman Hospitality Properties Inc reported revenue of $2.6B in FY2025 versus $939M in FY2021, a compound +28.7%/yr. Reported net income was $243M in FY2025.

Growth Quality 95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
$2.6B
Latest YoY
+10.2%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+12.6%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+37.5%
Avg. revenue growth/yr (29Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+4.4%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years, adjusted) plus dividend yield: value created per share and year.
+6.9% (3.1 + 3.8)
Revenue +28.7%/yr
FY21 $939M
FY22 $1.8B
FY23 $2.2B
FY24 $2.3B
FY25 $2.6B
Net income
FY21 −$177M
FY22 $129M
FY23 $311M
FY24 $272M
FY25 $243M

RHP screens 156% overvalued. Compare with Host Hotels & Resorts, Inc →

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Cite: Fair Value Calculator (2026). "Ryman Hospitality Properties Inc Fair Value". https://www.fairvalue-calculator.com/stock/RHP

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

REIT - Hotel & Motel · 35 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 33 · Bottom 25%
Fair Value upside −61% · Bottom 25%
Return on equity (TTM) 23% · Top 25%
Return on assets 5% · Top 25%
Net margin (TTM) 9% · Above median
Operating margin (TTM) 21% · Above median
Revenue growth 13% · Top 25%
Dividend yield (TTM) 3.8% · Below median
Debt / equity 5.30× · Higher than 75% of peers

Valuation Multiples vs REIT - Hotel & Motel median · lower = cheaper

P/E (TTM) 32.2× · Pricier than 75% of peers
P/B 10.53× · Pricier than 75% of peers
P/S (TTM) 2.99× · Pricier than median
P/FCF 34.0× · Pricier than 75% of peers
EV/EBITDA 14.4× · Pricier than 75% of peers
PEG 1.08× · Cheaper than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 6
FUTURE66 · sector 7
PAST94 · sector 5
HEALTH0 · sector 73
DIVIDEND77 · sector 89

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more REIT - Hotel & Motel stocks, each showing price versus our Fair Value estimate (as of Sep 1, 2026).

Stock Price Fair Value vs Fair Value
Host Hotels & Resorts, Inc HST $22.81 $15.81 −31%
COVH COVH €22.50 €21.42 −5%
Apple Hospitality REIT, Inc APLE $16.36 $12.63 −23%
Park Hotels & Resorts inc. PK $14.85 $19.87 +34%
DiamondRock Hospitality Company DRH $12.36 $8.43 −32%
Sunstone Hotel Investors, Inc SHO $11.01 $2.31 −79%
Pebblebrook Hotel Trust PEB $18.48 $25.37 +37%
Xenia Hotels & Resorts, Inc XHR $19.05 $11.54 −39%
RLJ Lodging Trust (RLJ) RLJ $11.46 $8.20 −28%
Service Properties Trust SVC $7.61 $2.44 −68%

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Frequently asked questions

Is Ryman Hospitality Properties Inc (RHP) overvalued or undervalued?
As of Sep 1, 2026, our model estimates a fair value of $47.68 versus a price of $122.25, about −61% upside (overvalued).
What is the fair value of RHP?
Our model-based fair value for Ryman Hospitality Properties Inc is $47.68 (as of Sep 1, 2026), built from audited fundamentals. The current price: $122.25.
What is the quality score of RHP?
Ryman Hospitality Properties Inc has a Quality Score of 33/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Ryman Hospitality Properties Inc (RHP)?
Ryman Hospitality Properties Inc reported trailing-twelve-month revenue of about $2.6B (latest available figure, as of Sep 1, 2026).
What is the net profit margin of RHP?
The net profit margin of Ryman Hospitality Properties Inc is about 9.5%, meaning it keeps roughly 9.5% of revenue as net income. Based on the latest reported figures.
Does Ryman Hospitality Properties Inc pay a dividend?
Ryman Hospitality Properties Inc currently shows a dividend yield of about 3.84% relative to its recent price (as of Sep 1, 2026).
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