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Ryman Hospitality Properties (RHP) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 3, 2026 · Ryman Hospitality Properties (RHP) Q3 2026 earnings results →
Q3 2026 Revenue up 11% year over year to $656M · 6¢ of every $1 of revenue kept as net profit · operating margin 14.4%
Ryman Hospitality Properties made $656M in Q3 2026 (+11% Y/Y): Food and Beverage $270M, Rooms $219M, Entertainment Segment $93.0M. Operating margin 14.4%, net earnings $40.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $655.8M in Q3 2026, up 11% year over year and down 12% from the previous quarter. Hotel Food and Beverage Banquets was the largest line at 28% of revenue. Hotel Food and Beverage Banquets added $28.0M year over year (up 18%), 44% of the total change. Entertainment Admissions and Ticketing declined 11%.
Operating profit was $94.3M, a 14.4% margin (down 0.6 points year over year). Of the extra revenue versus Q3 2025, 9% reached operating profit, below the 15% margin then. Total costs grew 11% against revenue growth of 11%. The fastest-growing cost line was General & admin (+23%). Net earnings were $40.2M, up 15% year over year. The effective tax rate was -19.4%.
Operating cash flow was $193.7M (down 6% year over year), 488% of net earnings. Non-cash charges added back $83.2M of depreciation and amortization and $4.1M of share-based compensation. Working capital and other items added $66.7M. Capital expenditures of $121.7M left free cash flow of $72.0M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 3, 2026 | $656M | +11% | 14.4% | $40.2M | $194M |
| Q2 2026 | 10-Q | Aug 7, 2026 | $749M | +14% | 23.3% | $92.8M | $153M |
| Q1 2026 | 10-Q | May 1, 2026 | $665M | +13% | 20.7% | $70.5M | $169M |
| Q4 2025 | 10-K | Feb 24, 2026 | $738M | +14% | 19.4% | $73.8M | $165M |
| Q3 2025 | 10-Q | Nov 4, 2025 | $592M | +8% | 15.0% | $34.9M | $205M |
| Q2 2025 | 10-Q | Aug 5, 2025 | $660M | +8% | 21.1% | $71.8M | $122M |
| Q1 2025 | 10-Q | May 2, 2025 | $587M | +11% | 19.8% | $63.0M | $98.2M |
Charts
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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📈Investments: gains and what it boughtinteractive
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About Ryman Hospitality Properties
Ryman is the successor to Gaylord Entertainment Company (“Gaylord”), a Delaware corporation originally incorporated in 1956. As part of the plan to restructure our business operations to facilitate our qualification as a REIT for federal income tax purposes, Gaylord merged with and into its wholly-owned subsidiary, Ryman, on October 1, 2012, with Ryman as the surviving corporation, and Ryman succeeded to and began conducting, either directly or indirectly, all of the business conducted by Gaylord immediately prior to the merger. Ryman is a Delaware corporation that began operating as a self-advised and self-administered REIT for federal income tax purposes on January 1, 2013. We specialize in group-oriented, destination hotel assets in urban and resort markets.
In its own words, from its 10-K, filed Feb 24, 2026.
Ryman Hospitality Properties against its Real Estate Investment Trusts peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +11% against the peers' median +11%. Operating margin: 14.4% against the peers' median 15.9%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| RHP Ryman Hospitality Properties | Q3 2026 | $656M | +11% | 14.4% |
| WELL Welltower | Q3 2026 | $3.7B | +38% | 9.1% |
| AMT American Tower | Q3 2026 | $2.8B | +2% | 45.6% |
| EQIX Equinix | Q3 2026 | $2.6B | +11% | 23.3% |
| PLD Prologis | Q1 2026 | $2.3B | +7% | 52.7% |
| IRM Iron Mountain | Q3 2026 | $2.0B | +14% | 20.6% |
| DLR Digital Realty Trust | Q3 2026 | $1.9B | +21% | 15.9% |
| WY Weyerhaeuser | Q3 2026 | $1.9B | +8% | 5.4% |
| VTR Ventas | Q3 2026 | $1.8B | +23% | 2.9% |
Source: Ryman Hospitality Properties 10-Q on SEC EDGAR · CIK 1040829 · Real Estate Investment Trusts
Guidance and outlook
13F: who owns RHP and who is buying
More on RHP
- How Ryman Hospitality Properties makes money: revenue by segment
- Ryman Hospitality Properties next earnings date and what analysts expect
- Ryman Hospitality Properties stock forecast, price target and fair value
- Who owns Ryman Hospitality Properties stock: holders, funds and Congress trades
- Ryman Hospitality Properties guidance and outlook
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Ryman Hospitality Properties operating margin by quarter
- Ryman Hospitality Properties net income by quarter
- Ryman Hospitality Properties free cash flow by quarter
- Ryman Hospitality Properties capital expenditures by quarter
- Ryman Hospitality Properties Food and Beverage revenue by quarter
- Ryman Hospitality Properties Rooms revenue by quarter
- Ryman Hospitality Properties Entertainment Segment revenue by quarter