Pursuit Attractions & Hospitality, Inc. (PRSU) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
Forensic Analysis · Hospitality & Leisure · as of Sep 25, 2026
Pursuit Attractions & Hospitality, Inc. (PRSU)
A forensic read on Pursuit Attractions & Hospitality, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Safe
Financial health
5.0
Distress distance
Clean
Earnings quality
6
Forensic signals
34.7
P / E (ttm)
3.9%
ROE
$1.3B
Market cap
0.00%
Dividend yield
23.4%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence, going concern, valuation). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Pursuit Attractions & Hospitality, Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 5.0, placing it in the Safe zone. 6 forensic signals were flagged in its latest SEC filings, led by cash conversion.
What the filings flag
0.61×
FY2023–FY2025
Cash conversion.Over FY2023–FY2025, cumulative operating cash flow was 0.61× cumulative net income. Reported profit is not turning into cash. The shortfall is profit tied up in working capital rather than collected — the accrual and receivables lines below show where.
+20.4%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +20.4% relative to their own average in FY2025 — scaled by NOA itself, not by total assets, which is what the Forensic Screens card's own accrual row divides by. Accruals are building sharply — a large slice of profit sits in operating assets, not cash. An accrual is a claim that still has to be collected or written down, so the gap resolves in a later period whichever way it goes. The build is led by PP&E up +23% against revenue +23% and inventory up +21% against +11% in cost of sales. A cash-flow measure on the same base disagrees: reported earnings ran behind operating cash by 9% of net operating assets, against an accruals ratio of 20.4%. The two are computed differently: the accruals ratio is the change in net operating assets over average net operating assets, while the cash-flow figure is net income less operating cash flow over that same average. Read them as two results, not one.
5.2%
FY2025
Return on invested capital.Return on invested capital is 5.2% in the latest fiscal year, against 8.0% in FY2023, having run between -3.4% and 8.0% across FY2023–FY2025 with no direction held. After-tax operating profit was $70M in FY2023 and $45M in FY2025, with operating income at 31.0% of revenue in FY2023. The capital base behind it barely moved across FY2023–FY2025 ($884M to $857M, -3%), so there has been little new capital for that return to be earned on. FY2024's operating profit carried a $48M asset write-down and a $3M restructuring charge that alone took about 5.6 points off that year's return; FY2024 sits between the two ends of FY2023–FY2025, so the charge shapes the path between them without moving the change across it.
Key fundamentals
Latest Revenue$452.4M
Revenue Growth YoY+23.4%
Revenue CAGR (2yr)+13.6%
Net Margin5.0%
Free Cash Flow$11.1M
Return on Equity3.9%
Debt / Equity0.27x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Pursuit Attractions & Hospitality, Inc.'s actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Sep 25, 2026. Forensic signals flag probability, not certainty.
+16.7%/yr
FY2023–FY2025
Share-count dilution.Diluted share count changed +36% over the last 2 years to FY2025 (+16.7%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~16.7% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2023 has been diluted ~27%.
1.6% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 1.6% of revenue and 67% of free cash flow in FY2025 — about $0.26 per diluted share. No cash left the business to pay it, which is why operating cash flow adds it back. Net of repurchases the diluted count still rose about 17.6% a year and that rate is not falling, so total profit has to grow by that much annually before any of it reaches a share. Stock compensation is one source of that issuance; acquisition consideration, equity raises, convertibles and other employee plans also net into the count, and these figures do not separate them.
92% of FCF
FY2025
Shareholder returns.Returned $10M to shareholders (buybacks + dividends) in FY2025 — 92% of free cash flow. Right at the limit of what free cash flow covers — little room before it's funded by debt or the balance sheet. That ratio has been CLIMBING toward the limit — 0% of free cash flow two years back — not just sitting there. Counting the $7M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 159%.