RYMAN HOSPITALITY PROPERTIES (RHP) Stock Fundamental Analysis
NYSE:RHP - New York Stock Exchange, Inc. - US78377T1079 - REIT - Currency: USD
We assign a fundamental rating of 4 out of 10 to RHP. RHP was compared to 129 industry peers in the Diversified REITs industry. RHP has a medium profitability rating, but doesn't score so well on its financial health evaluation. RHP is valued correctly, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
In the past year RHP was profitable.
RHP had a positive operating cash flow in the past year.
In multiple years RHP reported negative net income over the last 5 years.
RHP had a positive operating cash flow in 4 of the past 5 years.
1.2 Ratios
With an excellent Return On Assets value of 4.30%, RHP belongs to the best of the industry, outperforming 89.15% of the companies in the same industry.
The Return On Equity of RHP (32.79%) is better than 98.45% of its industry peers.
The Return On Invested Capital of RHP (6.98%) is better than 99.22% of its industry peers.
The Average Return On Invested Capital over the past 3 years for RHP is significantly above the industry average of 3.07%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.3% | ||
| ROE | 32.79% | ||
| ROIC | 6.98% |
ROA(3y)4.8%
ROA(5y)-0.46%
ROE(3y)79.84%
ROE(5y)N/A
ROIC(3y)10.05%
ROIC(5y)N/A
1.3 Margins
RHP has a Profit Margin (10.74%) which is comparable to the rest of the industry.
RHP's Profit Margin has improved in the last couple of years.
RHP has a Operating Margin of 19.72%. This is comparable to the rest of the industry: RHP outperforms 45.74% of its industry peers.
RHP's Operating Margin has improved in the last couple of years.
RHP has a worse Gross Margin (31.78%) than 89.92% of its industry peers.
RHP's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 19.72% | ||
| PM (TTM) | 10.74% | ||
| GM | 31.78% |
OM growth 3YN/A
OM growth 5Y4.7%
PM growth 3YN/A
PM growth 5Y5.03%
GM growth 3Y15.63%
GM growth 5Y0.35%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so RHP is still creating some value.
Compared to 1 year ago, RHP has more shares outstanding
The number of shares outstanding for RHP has been increased compared to 5 years ago.
RHP has a better debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of 1.11, we must say that RHP is in the distress zone and has some risk of bankruptcy.
RHP has a Altman-Z score of 1.11. This is in the better half of the industry: RHP outperforms 79.84% of its industry peers.
RHP has a debt to FCF ratio of 19.85. This is a negative value and a sign of low solvency as RHP would need 19.85 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 19.85, RHP is in the better half of the industry, outperforming 76.74% of the companies in the same industry.
RHP has a Debt/Equity ratio of 4.97. This is a high value indicating a heavy dependency on external financing.
RHP has a worse Debt to Equity ratio (4.97) than 85.27% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 4.97 | ||
| Debt/FCF | 19.85 | ||
| Altman-Z | 1.11 |
ROIC/WACC0.93
WACC7.51%
2.3 Liquidity
A Current Ratio of 0.84 indicates that RHP may have some problems paying its short term obligations.
Looking at the Current ratio, with a value of 0.84, RHP is in line with its industry, outperforming 45.74% of the companies in the same industry.
A Quick Ratio of 0.84 indicates that RHP may have some problems paying its short term obligations.
Looking at the Quick ratio, with a value of 0.84, RHP is in line with its industry, outperforming 47.29% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.84 | ||
| Quick Ratio | 0.84 |
3. Growth
3.1 Past
RHP shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -21.39%.
RHP shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 9.41% yearly.
The Revenue has been growing slightly by 6.13% in the past year.
RHP shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 7.83% yearly.
EPS 1Y (TTM)-21.39%
EPS 3YN/A
EPS 5Y9.41%
EPS Q2Q%-32.12%
Revenue 1Y (TTM)6.13%
Revenue growth 3Y35.54%
Revenue growth 5Y7.83%
Sales Q2Q%7.54%
3.2 Future
RHP is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 2.11% yearly.
The Revenue is expected to grow by 5.57% on average over the next years.
EPS Next Y-11.19%
EPS Next 2Y2.11%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year5.99%
Revenue Next 2Y7.19%
Revenue Next 3Y5.57%
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 22.58, RHP is valued on the expensive side.
Compared to the rest of the industry, the Price/Earnings ratio of RHP indicates a somewhat cheap valuation: RHP is cheaper than 79.84% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of RHP to the average of the S&P500 Index (26.84), we can say RHP is valued inline with the index average.
Based on the Price/Forward Earnings ratio of 20.67, the valuation of RHP can be described as rather expensive.
RHP's Price/Forward Earnings ratio is rather cheap when compared to the industry. RHP is cheaper than 91.47% of the companies in the same industry.
RHP's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 35.29.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22.58 | ||
| Fwd PE | 20.67 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of RHP indicates a somewhat cheap valuation: RHP is cheaper than 62.79% of the companies listed in the same industry.
72.87% of the companies in the same industry are more expensive than RHP, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 29.76 | ||
| EV/EBITDA | 12.99 |
4.3 Compensation for Growth
RHP has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)2.4
EPS Next 2Y2.11%
EPS Next 3YN/A
5. Dividend
5.1 Amount
RHP has a Yearly Dividend Yield of 4.77%, which is a nice return.
Compared to an average industry Dividend Yield of 6.54, RHP has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.36, RHP pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.77% |
5.2 History
The dividend of RHP has a limited annual growth rate of 5.45%.
RHP has paid a dividend for at least 10 years, which is a reliable track record.
The dividend of RHP decreased in the last 3 years.
Dividend Growth(5Y)5.45%
Div Incr Years2
Div Non Decr Years2
5.3 Sustainability
RHP pays out 103.78% of its income as dividend. This is not a sustainable payout ratio.
RHP's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP103.78%
EPS Next 2Y2.11%
EPS Next 3YN/A
94.6
-0.74 (-0.78%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners107.86%
Inst Owner Change-0.38%
Ins Owners2.5%
Ins Owner Change5.45%
Market Cap5.96B
Analysts85
Price Target119.85 (26.69%)
Short Float %5.6%
Short Ratio4.9
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.77% |
Yearly Dividend4.5
Dividend Growth(5Y)5.45%
DP103.78%
Div Incr Years2
Div Non Decr Years2
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)14.59%
Min EPS beat(2)-5.98%
Max EPS beat(2)35.17%
EPS beat(4)2
Avg EPS beat(4)10.59%
Min EPS beat(4)-7.28%
Max EPS beat(4)35.17%
EPS beat(8)4
Avg EPS beat(8)20.78%
EPS beat(12)7
Avg EPS beat(12)29.17%
EPS beat(16)10
Avg EPS beat(16)-0.82%
Revenue beat(2)2
Avg Revenue beat(2)5.7%
Min Revenue beat(2)5.55%
Max Revenue beat(2)5.86%
Revenue beat(4)2
Avg Revenue beat(4)2.2%
Min Revenue beat(4)-2.34%
Max Revenue beat(4)5.86%
Revenue beat(8)4
Avg Revenue beat(8)1.12%
Revenue beat(12)7
Avg Revenue beat(12)2.63%
Revenue beat(16)10
Avg Revenue beat(16)3.71%
PT rev (1m)1.58%
PT rev (3m)1.15%
EPS NQ rev (1m)-24.1%
EPS NQ rev (3m)-49.44%
EPS NY rev (1m)0%
EPS NY rev (3m)-10.23%
Revenue NQ rev (1m)1.66%
Revenue NQ rev (3m)2.46%
Revenue NY rev (1m)1.13%
Revenue NY rev (3m)3.08%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22.58 | ||
| Fwd PE | 20.67 | ||
| P/S | 2.44 | ||
| P/FCF | 29.76 | ||
| P/OCF | 9.84 | ||
| P/B | 7.44 | ||
| P/tB | 11.79 | ||
| EV/EBITDA | 12.99 |
EPS(TTM)4.19
EY4.43%
EPS(NY)4.58
Fwd EY4.84%
FCF(TTM)3.18
FCFY3.36%
OCF(TTM)9.61
OCFY10.16%
SpS38.81
BVpS12.71
TBVpS8.03
PEG (NY)N/A
PEG (5Y)2.4
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.3% | ||
| ROE | 32.79% | ||
| ROCE | 8.83% | ||
| ROIC | 6.98% | ||
| ROICexc | 7.56% | ||
| ROICexgc | 8.03% | ||
| OM | 19.72% | ||
| PM (TTM) | 10.74% | ||
| GM | 31.78% | ||
| FCFM | 8.19% |
ROA(3y)4.8%
ROA(5y)-0.46%
ROE(3y)79.84%
ROE(5y)N/A
ROIC(3y)10.05%
ROIC(5y)N/A
ROICexc(3y)11.74%
ROICexc(5y)N/A
ROICexgc(3y)12.57%
ROICexgc(5y)N/A
ROCE(3y)12.72%
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5Y10.32%
ROICexc growth 3YN/A
ROICexc growth 5Y10.99%
OM growth 3YN/A
OM growth 5Y4.7%
PM growth 3YN/A
PM growth 5Y5.03%
GM growth 3Y15.63%
GM growth 5Y0.35%
F-Score4
Asset Turnover0.4
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 4.97 | ||
| Debt/FCF | 19.85 | ||
| Debt/EBITDA | 5.43 | ||
| Cap/Depr | 161.73% | ||
| Cap/Sales | 16.58% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 82.66% | ||
| Profit Quality | 76.28% | ||
| Current Ratio | 0.84 | ||
| Quick Ratio | 0.84 | ||
| Altman-Z | 1.11 |
F-Score4
WACC7.51%
ROIC/WACC0.93
Cap/Depr(3y)119.66%
Cap/Depr(5y)94.21%
Cap/Sales(3y)12.39%
Cap/Sales(5y)15.39%
Profit Quality(3y)119.29%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-21.39%
EPS 3YN/A
EPS 5Y9.41%
EPS Q2Q%-32.12%
EPS Next Y-11.19%
EPS Next 2Y2.11%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)6.13%
Revenue growth 3Y35.54%
Revenue growth 5Y7.83%
Sales Q2Q%7.54%
Revenue Next Year5.99%
Revenue Next 2Y7.19%
Revenue Next 3Y5.57%
Revenue Next 5YN/A
EBIT growth 1Y-1.64%
EBIT growth 3YN/A
EBIT growth 5Y12.89%
EBIT Next Year53.11%
EBIT Next 3Y21.9%
EBIT Next 5Y14.01%
FCF growth 1Y-45.11%
FCF growth 3Y70.69%
FCF growth 5Y-3.57%
OCF growth 1Y19.23%
OCF growth 3Y73.02%
OCF growth 5Y10.2%