United Parks & Resorts Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data United Parks & Resorts Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	1,344	1,263	1,372	1,398	432	1,504	1,731	1,727	1,725	1,663
Selling, general and administrative	239	229	230	262	94.9	185	200	221	217	228
Operating income	59.6	-201	152	213	-242	432	508	460	463	365
Interest expense	62.7	78	80.9	84.2	101	117	118	147	168	134
Other non-operating income	-0.13	0.12	0.1	-0.02	-0.28	-0.14	0.04	0.02	-0.06	-4.76
Pre-tax income	-3.2	-287	62.7	129	-343	256	390	313	292	227
Income tax	9.33	-85	17.9	39.5	-30.5	-0.16	98.9	78.9	64	58.2
Net income	-12.5	-202	44.8	89.5	-312	257	291	234	227	168
EBITDA	259	-38.1	313	374	-91.1	581	660	614	627	540
EPS, basic	-0.15	-2.36	0.52	1.11	-3.99	3.28	4.18	3.66	3.82	3.09
EPS, diluted	-0.15	-2.36	0.52	1.10	-3.99	3.22	4.14	3.63	3.79	3.06
Shares, basic (weighted)	84.9	85.8	86.2	80.3	78.2	78.3	69.6	64	59.5	54.6
Shares, diluted (weighted)	84.9	85.8	86.9	81	78.2	79.6	70.3	64.5	60	55
Dividend per share	0.73

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	69	33.2	34.1	39.9	434	444	79.2	247	116	99.8
Receivables	36.7	38.4	58	49.7	30.4	76.9	71.1	73.8	79.4	77.3
Inventory	28.7	30.9	35.8	33.2	30.7	29.5	55.2	49.2	45.8	51.6
Other current assets	7.48	6.8	9.02	8.74	8.49	11.1	20.4	16.7	23.4	46.9
Total current assets	154	119	147	169	507	567	234	390	270	283
Property, plant and equipment	1,667	1,675	1,692	1,733	1,661	1,645	1,707	1,842	1,887	1,917
Lease right-of-use assets				141	137	132	130	127	130	125
Goodwill	336	66.3	66.3	66.3	66.3	66.3	66.3	66.3	66.3	66.3
Intangible assets	22.2	17.6	15.3
Other non-current assets	21.3	18	14.7	14.2	15.3	18.3	19.3	33.5	56.2	64.2
Total assets	2,379	2,086	2,116	2,301	2,566	2,610	2,326	2,625	2,574	2,616
Accounts payable	87.7	101	120
Accrued liabilities	23.4	20.1	23.1	81.8	51	45.8	46.9	58.1	54.5	41.8
Deferred revenue	78.9	79.6	101	104	131	155	170	156	153	143
Short-term debt	51.7	38.7	45.5	65.5	15.5	12	12	12	15.4	15.4
Total current liabilities	264	253	311	403	317	372	409	411	413	385
Long-term debt	1,531	1,504	1,495	1,483	2,177	2,105	2,099	2,093	2,229	2,218
Lease liabilities				124	120	117	115	113	115	111
Other non-current liabilities	52.8	41.2	34.3	37.2	42	37.6	43.2	51.5	65.1	80.2
Total liabilities	1,918	1,798	1,850	2,090	2,672	2,644	2,763	2,833	3,035	3,052
Total debt	1,583	1,542	1,540	1,548	2,193	2,117	2,111	2,105	2,244	2,233
Paid-in capital	621	641	664	674	680	711	710	723	730	746
Retained earnings	7.52	-195	-149	-59.5	-372	-115	176	410	638	806
Treasury stock	-155	-155	-253	-403	-415	-631	-1,325	-1,343	-1,830	-1,989
Other comprehensive income	-13.7	-5.08	2.28	-1.56
Shareholders' equity	461	287	265	211	-106	-33.9	-438	-208	-462	-436
Total equity	461	287	265	211	-106	-33.9	-438	-208	-462	-436
Total liabilities and equity	2,379	2,086	2,116	2,301	2,566	2,610	2,326	2,625	2,574	2,616

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-12.5	-202	44.8	89.5	-312	257	291	234	227	168
Depreciation and amortization	200	163	161	161	151	149	153	154	163	174
Stock-based compensation	37.5	23.2	22.2	11.1	7.47	39.7	18.2	17	13.7	17.2
Deferred income tax	8.94	-86.5	16.9	38	-31.4	-4.12	95.5	72.6	50.7	49.1
Change in receivables	2.11	-3.01	-24.3	10.9	24.8	-58.9	10.3	-4.53	-10.9	5.04
Change in inventory	2.5	-3.29	-4.62	0.72	2.27	0.64	-27.1	5.37	2.6	-8.63
Change in payables	3.6	7.35	13.3
Cash from operations	280	192	294	348	-121	503	565	505	480	380
Capital expenditures	-161	-173	-180	-195	-109	-129	-201	-305	-248	-217
Cash from investing	-161	-171	-180	-195	-109	-129	-201	-306	-249	-217
Debt issued		998	544		714	1,922			378
Debt repaid	-12.6	-1,027	-566	-15.5	-15.5	-2,033	-12	-12	-242	-15.4
Stock issued	0.08	0.01	4.28	3.8	2.92	5.91	3.03	2.94	1.79	1.13
Share buybacks			-98	-150	-12.4	-216	-694	-17.9	-483	-160
Dividends paid	-65.3	-1.5	-0.33
Cash from financing	-70.1	-57	-113	-147	624	-365	-726	-34.7	-363	-179
Net change in cash	49.8	-35.4	1.01	5.92	394	9.26	-362	165	-131	-16.1
Free cash flow	120	19.9	114	153	-230	374	364	200	232	163
Income taxes paid	0.8	0.5	0.8	1.4	0.5	5.9	1.6	5.02	11.2	17.5

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $33.25 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	19.2%	Operating income / revenue.
EBITDA margin	30.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	11.1%	Pre-tax income / revenue.
Net margin	8.1%	Net income / revenue.
FCF margin	10.0%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	24.9%	Cash from operations / revenue.
Effective tax rate	26.7%	Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)	5.1%	Net income / average total assets.
Return on invested capital (ROIC)	14.1%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	14.2%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	1.2%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	14.9%	Capital expenditures / revenue.
D&A / revenue	11.0%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-3.6%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-1.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	30.9%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-21.1%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-10.4%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	-13.9%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-6.5%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y	-26.0%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-16.7%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	-19.3%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-9.6%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-20.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-12.4%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow growth, 1y	-29.8%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-23.5%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y	1.7%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	4.0%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	0.4%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-8.4%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-7.9%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-6.8%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.48x	Current assets / current liabilities.
Quick ratio	0.23x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.04x	(Cash + short-term investments) / current liabilities.
Debt / assets	86.2%	Total debt / total assets.
Liabilities / assets	123.4%	Total liabilities / total assets.
Net debt	$2.26B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	4.54x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	2.43x	Operating income / interest expense.
Working capital	-$266.1M	Current assets - current liabilities.
Goodwill and intangibles / assets	2.5%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$683.3M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.62x	Revenue / average total assets.
Fixed asset turnover	0.84x	Revenue / average property, plant and equipment.
Receivables turnover	16.4x	Revenue / average receivables.
Days sales outstanding	22 days	365 x average receivables / revenue.
FCF conversion	123.3%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	59.8%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$2.83	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$34.92	Revenue / diluted weighted shares.
FCF per share	$3.49	Free cash flow / diluted weighted shares.
Operating cash flow per share	$8.69	Cash from operations / diluted weighted shares.
Book value per share	-$13.08	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$14.49	Tangible book value / shares outstanding.
Cash per share	$0.40	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	225.5%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$1.51B	Share price x shares outstanding.
Enterprise value	$3.77B	Market cap + total debt - cash - short-term investments.
P/E	11.3x	Market cap / net income. Only when net income is positive.
P/S	0.92x	Market cap / revenue.
P/FCF	9.15x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	3.68x	Market cap / cash from operations, when positive.
EV/Sales	2.29x	Enterprise value / revenue.
EV/EBIT	11.9x	Enterprise value / operating income, when both are positive.
EV/EBITDA	7.57x	Enterprise value / EBITDA, when both are positive.
EV/FCF	22.9x	Enterprise value / free cash flow, when both are positive.
FCF yield	10.9%	Free cash flow / market cap.
Earnings yield	8.9%	Net income / market cap (the inverse of P/E).
Shareholder yield	24.6%	(Dividends paid + share buybacks) / market cap.

What was United Parks & Resorts Inc.'s revenue in fiscal 2025?

United Parks & Resorts Inc. reported revenue of $1.66B for fiscal 2025, 3.6% lower than the year before.

Was United Parks & Resorts Inc. profitable in fiscal 2025?

Yes. Net income was $168.4M, a net margin of 10.1%.

How much free cash flow did United Parks & Resorts Inc. generate in fiscal 2025?

Cash from operations of $380.1M minus capital expenditures of $217.5M left free cash flow of $162.6M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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