PRSUPursuit Attractions & Hospitality, Inc.
Services-Miscellaneous Amusement & Recreation
- Revenue
- $452M
- 23% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $1.5B
- Employees
- 2,100
- $215K revenue each
- Net debt / EBITDA
- —
- $200M net debt
- AI in 10-K
- 0.4
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 0 of 7
- TSR below peersNo1 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo380% of net incomeCash flow under 80% of net income
- Dilutive SBCNo2% of revenueOver 10% of revenue
- Payouts exceed cash flowNo12% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo12% of assetsOver 40% of assets
- Shareholder dissentNo98% lowest supportAny vote under 80% support
Buyer economics 3 of 4
- Low revenue per employeeYes$215K · 13th pctBottom quartile of its SIC industry
- Quiet on AIYes0.4 per 10K words · 17th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo1.4× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedYes$1.5B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo$134K netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $507M | $299M | $350M | $366M | $452M | 23% |
| Operating income | −$47M | $69M | $108M | — | — | |
| Net income | −$93M | $23M | $16M | $369M | $23M | 94% |
| Operating cash flow | −$38M | $73M | $105M | $57M | $86M | 51% |
| Capex | $58M | $57M | $62M | $56M | $75M | 33% |
| Stock-based comp | $8M | $8M | $9M | $11M | $7M | 33% |
| Buybacks | $0 | $0 | $0 | $0 | $10M | |
| Dividends | $0 | $0 | — | — | — |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Dec 31, 2024 | Crestview Partners IV GP, L.P. | SCHEDULE 13D/A | 24.0% | Passive |
| Aug 6, 2020 | Crestview Partners IV GP, L.P. | SC 13D | 23.8% | Passive |
Insider trading
- Open-market buys, 12 mo
- $134K · 3
- Open-market sells, 12 mo
- $0 · 0
- Net
- $134K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | — | 93 | 74 |
| FY2024 | — | — | 118 | 98 |
| FY2023 | — | — | 100 | 94 |
| FY2022 | — | — | 67 | 77 |
| FY2021 | — | — | 118 | 97 |