Ryman Hospitality Properties, Inc. (RHP) Balance Sheet
RHP balance sheet, 2025
December 31, 2025 · U.S. dollars$6.18B assets = $4.97B liabilities + $1.21B equity
Both columns are drawn to the same scale: what RHP owns equals what it owes plus shareholders’ equity. Hover a block for its value.
RHP financial health
Descriptive bands, not a rating. Fiscal 2025.
RHP balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $2.41B2016 | $6.18B2025 | +11.1%/yr | |
| Total liabilities | $2.04B2016 | $4.97B2025 | +10.4%/yr | |
| Shareholders’ equity | $368.0M2016 | $750.2M2025 | +8.2%/yr | |
| Cash & short-term investments | $59.1M2016 | $500.2M2025 | +26.8%/yr | |
| Total debt | $1.59B2016 | $4.29B2025 | +11.7%/yr | |
| Net cash (debt) | −$1.53B2016 | −$3.79B2025 | −$2.3B | |
| Working capital | −$18.2M2016 | $546.1M2025 | +$564.3M | |
| Book value per share | $7.172016 | $11.372025 | +5.3%/yr | |
| Debt / equity | 4.332016 | 5.722025 | +1.40 | |
| Shares outstanding | 51.3M2016 | 66.0M2025 | +2.8%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
RHP assets
RHP liabilities and equity
RHP debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
RHP balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $500.2M | $477.7M | $591.8M | $334.2M | $140.7M | $56.7M | $362.4M | $103.4M | $57.6M | $59.1M |
| Cash & equivalents | $500.2M | $477.7M | $591.8M | $334.2M | $140.7M | $56.7M | $362.4M | $103.4M | $57.6M | $59.1M |
| Short-term investments | — | — | — | $11.3M | — | — | $3.8M | — | $21.2M | $22.1M |
| Receivables | $191.1M | $186.8M | $206.1M | $184.5M | $146.0M | $119.1M | $201.3M | $190.1M | $57.5M | $47.8M |
| Inventory | $16.9M | $16.1M | $14.0M | $12.0M | $8.4M | $7.2M | $10.3M | $9.8M | $8.1M | $8.1M |
| Other current assets | $0 | $125.4M | $131.1M | $98.1M | $13.9M | $58.0M | $135.6M | $35.8M | $135.3M | $69.4M |
| Total current assets | $553.7M | $806.0M | $943.0M | $628.8M | $309.0M | $241.0M | $709.6M | $339.2M | $258.5M | $184.4M |
| Property, plant & equipment (net) | $4.97B | $4.15B | $3.97B | $3.17B | $3.03B | $3.12B | $3.13B | $3.15B | $2.07B | $2.00B |
| Goodwill & intangible assets | $286.7M | $116.4M | $124.3M | $106.0M | $126.8M | $333.9M | $414.2M | $493.5M | −$50.1M | $2.8M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $88.7M | $70.4M |
| Other non-current assets | $370.4M | $148.7M | $147.5M | $134.2M | $112.9M | $0 | $0 | $0 | $161.5M | $150.1M |
| Total assets | $6.18B | $5.22B | $5.19B | $4.04B | $3.58B | $3.56B | $4.09B | $3.85B | $2.52B | $2.41B |
| Liabilities | ||||||||||
| Accounts payable | $43.4M | $58.4M | $57.0M | $385.2M | $304.7M | $23.1M | $40.2M | $274.9M | $179.6M | $163.2M |
| Short-term debt | $7.6M | $9.1M | $474,000 | $811.0M | $190.0M | $106.0M | $5.3M | $518.5M | $161.9M | $89.8M |
| Deferred revenue | $220.6M | $173.0M | $159.8M | $136.5M | $116.8M | $70.4M | $76.7M | $69.3M | $51.2M | $41.1M |
| Total current liabilities | $7.6M | $538.0M | $532.7M | $399.3M | $305.1M | $204.0M | $315.6M | $319.9M | $221.8M | $202.6M |
| Long-term debt | $3.97B | $3.37B | $2.57B | $2.86B | $2.93B | $2.65B | $2.55B | $2.44B | $1.59B | $1.50B |
| Lease obligations | $159.4M | $135.2M | $129.3M | $126.4M | $113.8M | $108.7M | $107.6M | $100.7M | $95.7M | $90.0M |
| Other long-term liabilities | $1.00B | $375.6M | $1.17B | $371.0M | $366.2M | $379.0M | $351.9M | $335.1M | $332.9M | $332.6M |
| Total liabilities | $4.97B | $4.28B | $4.27B | $3.63B | $3.60B | $3.24B | $3.22B | $3.10B | $2.15B | $2.04B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $630,000 | $599,000 | $597,000 | $552,000 | $551,000 | $550,000 | $549,000 | $513,000 | $512,000 | $510,000 |
| Retained earnings (deficit) | −$933.2M | −$888.1M | −$894.3M | −$978.6M | −$1.09B | −$911.1M | −$495.5M | −$388.5M | −$479.2M | −$491.8M |
| Treasury stock | — | — | — | — | −$18.5M | −$18.5M | −$17.3M | −$15.2M | −$13.3M | −$11.5M |
| Accumulated other comprehensive income | −$12.8M | −$15.2M | −$19.4M | −$10.9M | −$29.1M | −$58.0M | −$28.2M | −$28.0M | −$26.7M | −$22.3M |
| Minority interest | $461.6M | $385.6M | $348.8M | $625,000 | −$159,000 | $14.5M | — | — | $0 | $0 |
| Total shareholders' equity | $750.2M | $549.0M | $569.2M | $407.8M | −$22.4M | $205.3M | $644.7M | $757.0M | $378.2M | $368.0M |
| Key figures | ||||||||||
| Total debt | $4.29B | $3.51B | $3.51B | $3.67B | $3.12B | $2.87B | $2.67B | $2.96B | $1.75B | $1.59B |
| Net cash (debt) | −$3.79B | −$3.04B | −$2.91B | −$3.34B | −$2.98B | −$2.81B | −$2.30B | −$2.86B | −$1.70B | −$1.53B |
| Working capital | $546.1M | $268.0M | $410.4M | $229.5M | $3.9M | $37.0M | $394.0M | $19.3M | $36.7M | −$18.2M |
| Tangible book value | $463.5M | $432.6M | $444.9M | $301.8M | −$149.2M | −$128.6M | $230.5M | $263.5M | $428.3M | $365.2M |
| Book value per share | $11.37 | $8.63 | $9.80 | $7.36 | −$0.41 | $3.74 | $12.40 | $14.70 | $7.36 | $7.17 |
| Shares outstanding | 66.0M | 63.6M | 58.1M | 55.4M | 55.0M | 55.0M | 52.0M | 51.5M | 51.4M | 51.3M |
| Current ratio | 73.13 | 1.50 | 1.77 | 1.57 | 1.01 | 1.18 | 2.25 | 1.06 | 1.17 | 0.91 |
| Quick ratio | 91.30 | 1.24 | 1.50 | 1.30 | 0.94 | 0.86 | 1.79 | 0.92 | 0.52 | 0.53 |
| Debt / equity | 5.72 | 6.40 | 6.16 | 9.01 | — | 13.99 | 4.14 | 3.91 | 4.64 | 4.33 |
| Equity / assets | 12.1% | 10.5% | 11.0% | 10.1% | −0.6% | 5.8% | 15.8% | 19.6% | 15.0% | 15.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $397.8M | $451.3M | $500.2M | $483.3M | $420.6M | $413.9M | $477.7M | $534.9M | $498.4M | $465.3M | $700.4M | $543.1M |
| Cash & equivalents | $397.8M | $451.3M | $500.2M | $483.3M | $420.6M | $413.9M | $477.7M | $534.9M | $498.4M | $465.3M | $700.4M | $543.1M |
| Short-term investments | — | — | — | — | — | — | — | — | $255,000 | $106,000 | — | $1.5M |
| Receivables | $175.8M | $191.9M | $191.1M | $163.6M | $189.9M | $189.8M | $186.8M | $163.9M | $189.2M | $186.3M | $206.1M | $178.9M |
| Inventory | $0 | $0 | $16.9M | $0 | $0 | $0 | $16.1M | $734.9M | −$255,000 | −$106,000 | $14.0M | −$1.5M |
| Other current assets | $0 | $0 | $0 | $261.0M | $30.1M | $47.5M | $125.4M | $0 | $52.2M | $81.7M | $22.5M | $114.4M |
| Total current assets | $451.5M | $503.8M | $553.7M | $907.9M | $640.6M | $651.1M | $806.0M | $734.9M | $739.5M | $733.1M | $943.0M | $834.8M |
| Property, plant & equipment (net) | $5.08B | $5.02B | $4.97B | $4.93B | $4.93B | $4.17B | $4.15B | $4.09B | $4.05B | $3.99B | $18.1M | $3.93B |
| Goodwill & intangible assets | $277.6M | $282.1M | $286.7M | $290.8M | $294.9M | $183.3M | $116.4M | $118.3M | $120.2M | $122.3M | $124.3M | $126.4M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $384.5M | $388.9M | $370.4M | $65.0M | $248.8M | $235.1M | $148.7M | $259.1M | $234.8M | $245.7M | $4.10B | $173.6M |
| Total assets | $6.19B | $6.19B | $6.18B | $6.20B | $6.11B | $5.24B | $5.22B | $5.20B | $5.14B | $5.09B | $5.19B | $5.06B |
| Liabilities | ||||||||||||
| Accounts payable | $505.5M | $544.5M | $43.4M | $540.8M | $435.5M | $463.2M | $58.4M | $472.7M | $406.2M | $394.3M | $57.0M | $438.3M |
| Short-term debt | $163,000 | $295,000 | $7.6M | $367,000 | $404,000 | $105,000 | $9.1M | $48,000 | $60,000 | $72,000 | $474,000 | $800.1M |
| Deferred revenue | — | — | — | — | — | — | $173.0M | — | −$60,000 | $188.5M | $159.8M | $188.0M |
| Total current liabilities | $583.8M | $295,000 | $7.6M | $615.8M | $510.3M | $534.2M | $538.0M | $540.7M | $474.0M | $461.7M | $532.7M | $499.6M |
| Long-term debt | $3.97B | $3.97B | $3.98B | $3.98B | $3.98B | $3.38B | $3.38B | $3.37B | $3.37B | $3.38B | $3.38B | $3.37B |
| Lease obligations | $163.7M | $163.0M | $159.4M | $158.6M | $145.3M | $135.0M | $135.2M | $130.4M | $130.5M | $130.3M | $129.3M | $129.0M |
| Other long-term liabilities | $404.0M | $1.02B | $992.5M | $394.7M | $381.4M | $367.9M | $366.6M | $362.5M | $363.8M | $362.6M | $361.1M | $379.0M |
| Total liabilities | $4.96B | $4.99B | $4.97B | $4.99B | $4.87B | $4.28B | $4.28B | $4.28B | $4.21B | $4.20B | $4.27B | $4.25B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $631,000 | $631,000 | $630,000 | $630,000 | $630,000 | $600,000 | $599,000 | $599,000 | $599,000 | $599,000 | $597,000 | $597,000 |
| Retained earnings (deficit) | −$921.8M | −$938.3M | −$933.2M | −$931.5M | −$894.2M | −$893.9M | −$888.1M | −$888.1M | −$881.6M | −$917.5M | −$894.3M | −$972.0M |
| Accumulated other comprehensive income | −$9.9M | −$11.5M | −$12.8M | −$13.1M | −$15.2M | −$15.3M | −$15.2M | −$16.2M | −$17.9M | −$18.0M | −$19.4M | −$19.7M |
| Minority interest | $486.9M | $471.4M | $461.6M | $451.6M | $443.3M | — | — | — | — | — | — | — |
| Total shareholders' equity | $748.3M | $732.8M | $750.2M | $758.5M | $800.4M | $531.5M | $549.0M | $551.9M | $562.6M | $529.9M | $569.2M | $474.1M |
| Key figures | ||||||||||||
| Total debt | $4.13B | $4.13B | $4.29B | $4.13B | $4.12B | $3.51B | $3.51B | $3.50B | $3.50B | $3.51B | $3.51B | $4.17B |
| Net cash (debt) | −$3.73B | −$3.68B | −$3.79B | −$3.65B | −$3.70B | −$3.10B | −$3.04B | −$2.97B | −$3.01B | −$3.04B | −$2.81B | −$3.63B |
| Working capital | −$132.3M | $503.5M | $546.1M | $292.0M | $130.3M | $116.9M | $268.0M | $194.1M | $265.5M | $271.4M | $410.4M | $335.2M |
| Tangible book value | $470.7M | $450.7M | $463.5M | $467.7M | $505.5M | $348.2M | $432.6M | $433.6M | $442.4M | $407.7M | $444.9M | $347.6M |
| Book value per share | $10.98 | $11.11 | $11.37 | $11.59 | $12.39 | $8.34 | $8.62 | $8.64 | $8.90 | $8.36 | $9.48 | $7.45 |
| Shares outstanding | 68.1M | 66.0M | 66.0M | 65.5M | 64.6M | 63.7M | 63.7M | 63.9M | 63.2M | 63.4M | 60.1M | 63.6M |
| Current ratio | 0.77 | 1,707.94 | 73.13 | 1.47 | 1.26 | 1.22 | 1.50 | 1.36 | 1.56 | 1.59 | 1.77 | 1.67 |
| Quick ratio | 0.98 | 2,180.26 | 91.30 | 1.05 | 1.20 | 1.13 | 1.24 | 1.29 | 1.45 | 1.41 | 1.70 | 1.44 |
| Debt / equity | 5.52 | 5.64 | 5.72 | 5.45 | 5.15 | 6.60 | 6.40 | 6.35 | 6.23 | 6.62 | 6.16 | 8.81 |
| Equity / assets | 12.1% | 11.8% | 12.1% | 12.2% | 13.1% | 10.1% | 10.5% | 10.6% | 10.9% | 10.4% | 11.0% | 9.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 24, 2026); data from EODHD.
RHP financial position
At the end of fiscal 2025 (December 31, 2025), Ryman Hospitality Properties had total assets of $6.2 billion (up 18.5% from a year earlier), total liabilities of $5.0 billion and shareholders' equity of $750.2 million. It held $500.2 million in cash and short-term investments against $4.3 billion of debt, net debt of $3.8 billion. Its current ratio was 73.13. In the latest quarter (ended June 30, 2026) total assets were $6.2 billion and equity $748.3 million.
Related: RHP income statement, RHP cash flow statement, RHP key metrics. See the RHP stock overview for the latest quote and news.
RHP balance sheet FAQ
What are Ryman Hospitality Properties's total assets?
Ryman Hospitality Properties reported total assets of $6.2 billion at the end of fiscal 2025 (December 31, 2025), compared with $5.2 billion a year earlier.
How much debt does Ryman Hospitality Properties have?
Ryman Hospitality Properties had $4.3 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 5.72.
How much cash does Ryman Hospitality Properties have?
Ryman Hospitality Properties held $500.2 million in cash and short-term investments at the end of fiscal 2025; with $4.3 billion of debt that is net debt of $3.8 billion.
What is Ryman Hospitality Properties's book value?
Ryman Hospitality Properties's shareholders' equity (book value) was $750.2 million at the end of fiscal 2025, or $11.37 per share.
What is Ryman Hospitality Properties's current ratio?
Ryman Hospitality Properties had current assets of $553.7 million and current liabilities of $7.6 million, a current ratio of 73.13 (it can cover its short-term obligations).
How much goodwill does Ryman Hospitality Properties have?
Ryman Hospitality Properties carried $286.7 million of goodwill and intangible assets, 4.6% of total assets, at the end of fiscal 2025.