PRKSNYSEServices-Miscellaneous Amusement & RecreationUS GAAP · USD

United Parks & Resorts Inc.

United Parks & Resorts Inc. owns and operates a portfolio of theme parks and entertainment venues in the United States and the United Arab Emirates. Its parks include SeaWorld, Busch Gardens, Aquatica, Discovery Cove and Sesame Place, combining rides, shows, water attractions and zoological exhibits across 13 differentiated properties.

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Revenue1,663m USD
−3.6 %y/y
Operating profit (EBIT)365m USD
−21.1 %y/y
EBIT margin22.0%
−4.9 ppy/y
Net income168m USD
−26.0 %y/y
Free cash flow163m USD
−29.8 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

-50005001,0001,5002,000m USD2020: 432 m USD2020: EBIT -242 m USD20202021: 1,504 m USD2021: EBIT 432 m USD20212022: 1,731 m USD2022: EBIT 508 m USD20222023: 1,727 m USD2023: EBIT 460 m USD20232024: 1,725 m USD2024: EBIT 463 m USD20242025: 1,663 m USD2025: EBIT 365 m USD20251,663365
RevenueOperating profit (EBIT)
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Business

Share of revenue
Admissions52 %

Entrance tickets, passes and other admission revenue for the park portfolio.

In-park food and beverage18 %

Food and beverage purchases made by guests inside the parks.

Merchandise and retail10 %

Branded merchandise, retail sales and related guest purchases.

Parking and guest services8 %

Parking, service fees and other ancillary guest spending.

International and other revenue12 %

Other revenue streams, including international agreements and miscellaneous items.

Products

Reported · share of revenue
53.1%46.9%FY2025100 %
  • Admission53.1 %
  • Food Merchandise and Other46.9 %

Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.

Customers

The company serves families, local day-trippers, regional visitors and destination travelers who buy admission and spend inside the parks. Its parks also attract school groups and guests interested in animal exhibits, educational presentations and branded family entertainment. Because the portfolio includes both regional and destination parks, the customer mix spans nearby residents, domestic travelers and some international visitors.

Families and leisure visitors

Buy admission and in-park food/merchandise for family outings and entertainment.

Local and regional day visitors

Visit nearby parks for shorter trips and recurring leisure spending.

Domestic destination travelers

Travel to flagship parks and spend more on admissions and ancillary items.

International visitors

Visit destination parks, especially in major tourism markets, and support higher per-capita spending.

Schools and organized groups

Purchase group admissions and educational experiences tied to animal and conservation themes.

Strategy

The company focuses on improving the guest experience through new attractions, park maintenance and facility upgrades that support attendance and length of stay. It also emphasizes cost discipline, labor alignment and technology initiatives to improve operating efficiency while preserving the park experience. Brand licensing, animal care capabilities and differentiated park formats help it compete against larger destination and regional entertainment operators.

Refresh parks with new attractions and capital projectsMedium term

New and maintained attractions help sustain attendance and guest spending.

Improve operating efficiency and labor alignmentShort term

A seasonal park model requires staffing and cost structure to match demand.

Protect and extend differentiated brandsLong term

Recognized brands and zoological content support pricing power and repeat visitation.

Geography

United Parks & Resorts operates 13 parks grouped across key U.S. markets and the United Arab Emirates. The company says a significant portion of revenue is historically generated in Florida, California and Virginia, making those markets especially important to attendance and travel patterns. Its parks are located near major metropolitan areas and tourism hubs, which supports both local visitation and destination traffic.

Risks

Attendance and guest spending are sensitive to weather, consumer confidence, travel patterns and discretionary spending, so demand can move sharply with the broader economy. The business also faces animal-related regulatory scrutiny, reputational risk, cybersecurity exposure and high fixed operating costs that can pressure results when volumes weaken. Geographic concentration in a few U.S. states and competitive intensity in major tourism markets add further operating risk.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Regional concentration1Attendance and guest spending volatility2Animal welfare regulation and activist scrutiny3Seasonality and fixed-cost leverage4Cybersecurity and technology interruptions5
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Regional concentrationImpact: HighLikelihood: High

    A significant portion of revenue comes from Florida, California and Virginia, increasing exposure to local shocks.

    Exposure: U.S. coastal and tourism markets

  2. Attendance and guest spending volatilityImpact: HighLikelihood: Medium

    Park revenue depends on discretionary leisure demand and weather-sensitive visitation.

    Exposure: Admissions and in-park spending

  3. Animal welfare regulation and activist scrutinyImpact: HighLikelihood: Medium

    The parks feature live animals and zoological exhibits that attract regulatory and public attention.

    Exposure: SeaWorld-branded and zoological parks

  4. Seasonality and fixed-cost leverageImpact: HighLikelihood: Medium

    Theme park operations carry high fixed costs, so lower attendance can quickly reduce margins.

    Exposure: All parks

  5. Cybersecurity and technology interruptionsImpact: MediumLikelihood: Medium

    Ticketing, guest data and park operations rely on IT systems and online channels.

    ExposureWebsitesTicketingInternal systems
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Accounting

Judgemental items
Revenue recognition for admissions and in-park spending

Ticket sales and guest purchases drive revenue timing and quarterly comparability.

Impact: Affects reported revenue by period and mix between admissions and ancillary spending

Long-lived asset impairment

Theme parks are capital intensive and asset recoverability depends on future attendance and cash flows.

Impact: Can create material non-cash charges if park economics weaken

Self-insurance reserves

The company estimates claims and related liabilities for employee and operational risks.

Impact: Affects operating expenses and balance sheet liabilities

Seasonality

Attendance and spending vary by holiday periods, weather and school calendars.

Impact: Makes quarterly revenue and margin trends less comparable

Income taxes and valuation assumptions

Management must estimate tax positions and asset lives in a judgment-heavy business.

Impact: Can affect effective tax rate and carrying values of assets

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Last updated: 24/09/2026

United Parks & Resorts Inc. (PRKS) Revenue, Earnings & Financials 2025 – Clarifo