Filing Flows › Ryman Hospitality Properties (RHP) › Q4 2025
Ryman Hospitality Properties (RHP) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 24, 2026
Ryman Hospitality Properties (RHP) reported revenue of $738M for the fourth quarter 2025 (Q4 2025), +14% from a year earlier and +25% from the quarter before. Operating margin was 19.4%, net earnings $73.8M (10.0% of revenue).
Ryman Hospitality Properties, Q4 2025: revenue $738M (+14% year over year), operating margin 19.4%, net earnings $73.8M, operating cash flow $165M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $738M | +25% | +14% |
| Operating profit | $143M | +61% | +19% |
| Net earnings | $73.8M | +112% | +7% |
| Operating cash flow | $165M | -20% | -1% |
| Free cash flow | $58.5M | -57% | -23% |
What changed
Revenue was $737.8M in Q4 2025, up 14% year over year and up 25% from the previous quarter. Hotel Food and Beverage Banquets was the largest line at 22% of revenue.
Operating profit was $142.9M, a 19.4% margin (up 0.8 points year over year). Of the extra revenue versus a year earlier, 25% reached operating profit, above the 19% margin then. Total costs grew 13% against revenue growth of 14%. The fastest-growing cost line was Other operating costs (+16%). Net earnings were $73.8M, up 7% year over year. The effective tax rate was -1.4%.
Operating cash flow was $164.7M (down 1% year over year), 221% of net earnings. Non-cash charges added back $74.2M of depreciation and amortization and $3.3M of share-based compensation. Working capital and other items added $12.7M. Capital expenditures of $106.1M left free cash flow of $58.5M.
Questions
What was Ryman Hospitality Properties' revenue in the fourth quarter 2025?
Ryman Hospitality Properties (RHP) reported revenue of $738M for the fourth quarter 2025 (Q4 2025), +14% from a year earlier and +25% from the quarter before.
Was Ryman Hospitality Properties profitable in the fourth quarter 2025?
Operating profit was $143M (19.4% of revenue) and net earnings $73.8M.