Forensic Analysis · Hospitality & Leisure · as of Aug 11, 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
4.8
Distress distance
Clean
Earnings quality
6
Forensic signals
44.8
P / E (ttm)
3.9%
ROE
$1.2B
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). 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 4.8, 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, 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 total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building sharply — a large slice of profit sits in operating assets, not cash; Richardson/Sloan link high accruals to weaker future returns as they reverse. The build is led by PP&E up +23% against revenue +23% and inventory up +21% against +11% in cost of sales. The cash-flow cross-check is more mixed: reported earnings ran behind operating cash by 9% of net operating assets, diverging from the balance-sheet accrual read.
5.2%
FY2025
Return on invested capital.Return on invested capital is 5.2% in the latest fiscal year and steady — well below its ~8% cost of capital, so reinvested dollars may be destroying value, not building it.
+11.3%/yr
FY2022–FY2025
Share-count dilution.Diluted share count changed +38% over the last 3 years to FY2025 (+11.3%/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 ~11.3% 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 FY2022 has been diluted ~27%.
Key fundamentals
Latest Revenue$452.4M
Revenue Growth YoY+23.4%
Revenue CAGR (3yr)+14.8%
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 Aug 11, 2026. Forensic signals flag probability, not certainty.
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. The cost of it is not in the cash flow — no cash left the business — it is in the count: holders gave up about 12.2% of the company a year, and that rate is not falling. That is the figure to weigh, not the share of free cash flow.
suspended
FY2020→FY2022
Dividend — suspended.The dividend has been SUSPENDED — $4M paid in FY2020, then $0 in FY2022. A suspension is a major signal the board is conserving cash; the prior payment history doesn't offset it.
Pursuit Attractions & Hospitality, Inc. (PRSU) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy