Vail Resorts, Inc. (MTN) 10-Year Financial Performance & Capital Metrics

MTN • • Industrial / General

Consumer CyclicalCasinos & GamingIntegrated Casino ResortsGlobal Integrated Resort Operators

AboutVail Resorts, Inc., through its subsidiaries, operates mountain resorts and urban ski areas in the United States. It operates through three segments: Mountain, Lodging, and Real Estate. The Mountain segment operates 37 destination mountain resorts and regional ski areas. This segment is also involved in the ancillary activities, including ski school, dining, and retail/rental operations, as well as real estate brokerage activities. The Lodging segment owns and/or manages various luxury hotels and condominiums, and other lodging properties under the RockResorts brand; various condominiums located in proximity to the company's mountain resorts; destination resorts; and golf courses, as well as offers resort ground transportation services. This segment operates owned and managed hotel and condominium units. The Real Estate segment owns, develops, and sells real estate properties. The company was incorporated in 1997 and is based in Broomfield, Colorado.Show more

Revenue $2.96B +2.7%
EBITDA $264M -65.7%
Net Income $280M +21.5%
EPS (Diluted) 7.53 +24.1%
Gross Margin 93.86% +120.3%
EBITDA Margin 8.89% -66.6%
Operating Margin 18.89% +10.9%
Net Margin 9.45% +18.3%
ROE 31.24% +61.0%
ROIC 11.17% +14.5%
Debt/Equity 4.57 +55.8%
Interest Coverage 3.26 +7.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 22.5%
✓Strong 5Y profit CAGR of 23.2%
✓Strong Piotroski F-Score: 7/9
✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

✗High debt to equity ratio of 4.6x
✗Dividend payout exceeds 100% of earnings

Price & Volume

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Growth Metrics

Revenue CAGR

10Y7.79%

5Y8.58%

3Y5.47%

TTM3.05%

Profit (Net Income) CAGR

10Y9.33%

5Y23.16%

3Y-6.98%

TTM14.16%

EPS CAGR

10Y9.39%

5Y25.49%

3Y-4.15%

TTM13.29%

ROCE

10Y Avg10.82%

5Y Avg10.03%

3Y Avg11.13%

Latest12.87%

Peer Comparison

Global Integrated Resort Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
HGVHilton Grand Vacations Inc.	4.12B	48.19	104.76	25.21%	1.76%	5.71%	4.44%	3.70
LVSLas Vegas Sands Corp.	40.98B	60.61	30.92	8.93%	12.69%	83.34%	3.96%	4.35
WYNNWynn Resorts, Limited	12.2B	117.37	26.98	9.13%	7.09%		8.22%
MLCOMelco Resorts & Entertainment Limited	2.63B	6.73	22.43	22.86%	2.06%		12.38%
MTNVail Resorts, Inc.	4.98B	139.17	18.48	2.73%	8.94%	56.85%	6.42%	4.57
MGMMGM Resorts International	9.68B	35.41	14.75	6.66%	0.4%	2.02%	12.51%	8.56
VACMarriott Vacations Worldwide Corporation	2.16B	62.48	11.14	5.08%	3.77%	7.02%	6.84%	2.14
MSCStudio City International Holdings Limited	635.54M	3.30	-1.65	43.45%	-9.61%	-11.09%	16.23%	3.37

Profit & Loss

	Jul 2016	Jul 2017	Jul 2018	Jul 2019	Jul 2020	Jul 2021	Jul 2022	Jul 2023	Jul 2024	Jul 2025
Sales/Revenue+	1.6B	1.91B	2.01B	2.27B	1.96B	1.91B	2.53B	2.89B	2.89B	2.96B
Revenue Growth %	0.14%	0.19%	0.05%	0.13%	-0.14%	-0.03%	0.32%	0.14%	-0%	0.03%
Cost of Goods Sold+	1.15B	1.09B	1.14B	1.3B	1.19B	1.08B	1.35B	1.67B	1.66B	181.99M
COGS % of Revenue	0.72%	0.57%	0.57%	0.57%	0.6%	0.57%	0.53%	0.58%	0.57%	0.06%
Gross Profit+	448.79M	821.18M	867.34M	974.25M	776.02M	830.04M	1.18B	1.22B	1.23B	2.78B
Gross Margin %	0.28%	0.43%	0.43%	0.43%	0.4%	0.43%	0.47%	0.42%	0.43%	0.94%
Gross Profit Growth %	0.31%	0.83%	0.06%	0.12%	-0.2%	0.07%	0.42%	0.04%	0.01%	1.26%
Operating Expenses+	161.49M	425.96M	456.27M	492.53M	528.27M	569.03M	574.9M	716.71M	737.83M	756.19M
OpEx % of Revenue	0.1%	0.22%	0.23%	0.22%	0.27%	0.3%	0.23%	0.25%	0.26%	0.26%
Selling, General & Admin	208.99M	236.8M	291.61M	319.01M	320.3M	335.59M	347.49M	389.46M	410.03M	433.71M
SG&A % of Revenue	0.13%	0.12%	0.14%	0.14%	0.16%	0.18%	0.14%	0.13%	0.14%	0.15%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	161.49M	189.16M	204.46M	218.12M	207.97M	233.44M	227.4M	327.24M	327.8M	322.48M
Operating Income+	282.98M	379.26M	408.82M	476.27M	223.39M	261.02M	601.73M	505.1M	491.43M	559.96M
Operating Margin %	0.18%	0.2%	0.2%	0.21%	0.11%	0.14%	0.24%	0.17%	0.17%	0.19%
Operating Income Growth %	0.34%	0.34%	0.08%	0.16%	-0.53%	0.17%	1.31%	-0.16%	-0.03%	0.14%
EBITDA+	444.47M	568.41M	613.28M	694.39M	472.96M	513.6M	854.12M	773.6M	767.92M	263.52M
EBITDA Margin %	0.28%	0.3%	0.3%	0.31%	0.24%	0.27%	0.34%	0.27%	0.27%	0.09%
EBITDA Growth %	0.24%	0.28%	0.08%	0.13%	-0.32%	0.09%	0.66%	-0.09%	-0.01%	-0.66%
D&A (Non-Cash Add-back)	161.49M	189.16M	204.46M	218.12M	249.57M	252.59M	252.39M	268.5M	276.49M	-296.44M
EBIT	287.3M	400.42M	411.07M	490.32M	223.15M	280.47M	605.34M	563.16M	506.93M	574.02M
Net Interest Income+	-42.37M	-54.09M	-63.23M	-79.5M	-106.72M	-151.4M	-148.18M	-153.02M	-161.84M	-161.5M
Interest Income	0	0	0	0	0	0	0	0	0	10.13M
Interest Expense	42.37M	54.09M	63.23M	79.5M	106.72M	151.4M	148.18M	153.02M	161.84M	171.63M
Other Income/Expense	-40.36M	-30.81M	-68.72M	-77.3M	-106.96M	-135.83M	-144.57M	-134M	-146.33M	-157.56M
Pretax Income+	242.62M	348.45M	340.09M	398.96M	116.43M	125.18M	457.16M	370.42M	345.1M	402.4M
Pretax Margin %	0.15%	0.18%	0.17%	0.18%	0.06%	0.07%	0.18%	0.13%	0.12%	0.14%
Income Tax+	93.17M	116.73M	-61.14M	75.47M	7.38M	726K	88.82M	88.41M	98.82M	104.42M
Effective Tax Rate %	0.62%	0.6%	1.12%	0.75%	0.85%	1.02%	0.76%	0.72%	0.67%	0.7%
Net Income+	149.75M	210.55M	379.9M	301.16M	98.83M	127.85M	347.92M	268.15M	230.41M	280M
Net Margin %	0.09%	0.11%	0.19%	0.13%	0.05%	0.07%	0.14%	0.09%	0.08%	0.09%
Net Income Growth %	0.3%	0.41%	0.8%	-0.21%	-0.67%	0.29%	1.72%	-0.23%	-0.14%	0.22%
Net Income (Continuing)	149.45M	231.72M	401.23M	323.49M	109.06M	124.46M	368.34M	282.78M	246.28M	297.98M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	13.93M	227.8M	222.23M	226.21M	214.93M	234.47M	235.04M	331.71M	314.95M	329.4M
EPS (Diluted)+	4.01	5.22	9.13	7.32	2.42	3.13	8.55	6.69	6.07	7.53
EPS Growth %	0.31%	0.3%	0.75%	-0.2%	-0.67%	0.29%	1.73%	-0.22%	-0.09%	0.24%
EPS (Basic)	4.13	5.36	9.40	7.46	2.45	3.17	8.60	6.70	6.08	7.54
Diluted Shares Outstanding	37.31M	40.37M	41.62M	41.16M	40.84M	40.83M	40.69M	39.76M	37.96M	37.2M
Basic Shares Outstanding	36.28M	39.25M	40.4M	40.35M	40.27M	40.3M	40.47M	39.65M	37.87M	37.16M
Dividend Payout Ratio	0.69%	0.69%	0.54%	0.87%	2.15%	-	0.65%	1.17%	1.4%	1.17%

Balance Sheet

	Jul 2016	Jul 2017	Jul 2018	Jul 2019	Jul 2020	Jul 2021	Jul 2022	Jul 2023	Jul 2024	Jul 2025
Total Current Assets+	322.87M	433.07M	538.74M	527.94M	665.09M	1.75B	1.79B	1.21B	911.36M	1.05B
Cash & Short-Term Investments	67.9M	117.39M	178.15M	108.85M	390.98M	1.24B	1.11B	562.98M	322.83M	440.29M
Cash Only	67.9M	117.39M	178.15M	108.85M	390.98M	1.24B	1.11B	562.98M	322.83M	440.29M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	147.11M	186.91M	230.83M	270.9M	106.66M	345.41M	383.43M	381.07M	375.75M	382.37M
Days Sales Outstanding	33.53	35.77	41.88	43.53	19.83	66.02	55.41	48.14	47.54	47.09
Inventory	74.59M	84.81M	85.59M	96.54M	101.86M	80.32M	108.72M	132.55M	118.99M	117.18M
Days Inventory Outstanding	23.62	28.5	27.3	27.16	31.3	27.15	29.41	29	26.23	235.02
Other Current Assets	33.27M	43.95M	44.17M	51.66M	65.59M	75.9M	191.96M	88.3M	42.27M	109.95M
Total Non-Current Assets+	2.16B	3.68B	3.53B	3.9B	4.58B	4.51B	4.53B	4.74B	4.79B	4.73B
Property, Plant & Equipment	1.36B	1.71B	1.63B	1.84B	2.42B	2.27B	2.31B	2.56B	2.68B	2.62B
Fixed Asset Turnover	1.17x	1.11x	1.24x	1.23x	0.81x	0.84x	1.09x	1.13x	1.08x	1.13x
Goodwill	509.04M	1.52B	1.48B	1.61B	1.71B	1.78B	1.75B	1.72B	1.68B	1.68B
Intangible Assets	140.01M	294.93M	280.57M	306.17M	314.78M	319.11M	314.06M	309.35M	302.54M	298.5M
Long-Term Investments	118.59M	111M	107.08M	-168.76M	-234.19M	-252.82M	95.98M	90.21M	86.55M	87.85M
Other Non-Current Assets	-102.29M	-133.63M	-98.23M	141.26M	136.93M	132.72M	-217.06M	-220.24M	-239.06M	49.39M
Total Assets+	2.48B	4.11B	4.06B	4.43B	5.24B	6.25B	6.32B	5.95B	5.7B	5.78B
Asset Turnover	0.65x	0.46x	0.49x	0.51x	0.37x	0.31x	0.40x	0.49x	0.51x	0.51x
Asset Growth %	-0%	0.66%	-0.01%	0.09%	0.18%	0.19%	0.01%	-0.06%	-0.04%	0.01%
Total Current Liabilities+	506.48M	604.56M	593.62M	719.13M	603.47M	978.4M	1.11B	1.13B	1.11B	1.67B
Accounts Payable	72.66M	71.56M	80.79M	96.38M	59.69M	98.26M	151.26M	148.52M	141.25M	139.98M
Days Payables Outstanding	23.01	24.05	25.77	27.12	18.34	33.22	40.92	32.5	31.13	280.74
Short-Term Debt	13.35M	38.4M	38.45M	48.52M	63.68M	114.12M	63.75M	69.16M	59.31M	599.51M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0
Other Current Liabilities	70.06M	78.64M	67.64M	87.7M	77.12M	124.43M	136.27M	120.62M	-8.93M	881.81M
Current Ratio	0.64x	0.72x	0.91x	0.73x	1.10x	1.78x	1.61x	1.07x	0.82x	0.63x
Quick Ratio	0.49x	0.58x	0.76x	0.60x	0.93x	1.70x	1.51x	0.95x	0.72x	0.56x
Cash Conversion Cycle	34.14	40.23	43.41	43.57	32.78	59.95	43.9	44.64	42.63	1.36
Total Non-Current Liabilities+	1.09B	1.71B	1.66B	1.98B	3.11B	3.44B	3.36B	3.48B	3.55B	3.36B
Long-Term Debt	686.91M	905.24M	1.23B	1.22B	2.39B	2.75B	2.67B	2.75B	2.73B	2.21B
Capital Lease Obligations	0	328.79M	0	312.01M	217.54M	190.56M	174.57M	168.33M	235.11M	598.54M
Deferred Tax Liabilities	129.99M	171.44M	133.92M	168.76M	234.19M	320.67M	268.46M	276.14M	327.78M	252.04M
Other Non-Current Liabilities	148.42M	183.32M	177.19M	173.85M	165.14M	183.24M	246.36M	286.26M	260.78M	294.46M
Total Liabilities	1.59B	2.31B	2.25B	2.7B	3.71B	4.42B	4.47B	4.61B	4.66B	5.02B
Total Debt+	727.59M	1.3B	1.29B	1.6B	2.71B	3.08B	2.94B	3.03B	3.04B	3.44B
Net Debt	659.69M	1.18B	1.12B	1.49B	2.32B	1.83B	1.84B	2.46B	2.72B	3B
Debt / Equity	0.82x	0.72x	0.71x	0.92x	1.77x	1.68x	1.59x	2.26x	2.93x	4.57x
Debt / EBITDA	1.64x	2.28x	2.11x	2.30x	5.72x	5.99x	3.45x	3.91x	3.97x	13.07x
Net Debt / EBITDA	1.48x	2.08x	1.82x	2.14x	4.90x	3.57x	2.15x	3.18x	3.54x	11.40x
Interest Coverage	6.68x	7.01x	6.47x	5.99x	2.09x	1.72x	4.06x	3.30x	3.04x	3.26x
Total Equity+	888.47M	1.8B	1.81B	1.73B	1.53B	1.83B	1.85B	1.34B	1.04B	753.9M
Equity Growth %	0.01%	1.02%	0.01%	-0.05%	-0.11%	0.19%	0.01%	-0.28%	-0.22%	-0.27%
Book Value per Share	23.81	44.57	43.53	41.96	37.51	44.80	45.41	33.59	27.36	20.26
Total Shareholders' Equity	874.54M	1.57B	1.59B	1.5B	1.32B	1.59B	1.61B	1B	723.54M	424.5M
Common Stock	416K	455K	461K	462K	464K	466K	467K	468K	469K	469K
Retained Earnings	486.67M	550.99M	726.72M	759.8M	645.9M	773.75M	895.89M	873.71M	780.43M	718.66M
Treasury Stock	-246.98M	-247.19M	-272.99M	-357.99M	-404.41M	-404.41M	-479.42M	-984.31M	-1.14B	-1.41B
Accumulated OCI	-1.55M	44.4M	-2.23M	-31.73M	-56.84M	27.8M	10.92M	-10.36M	-67.29M	-57.89M
Minority Interest	13.93M	227.8M	222.23M	226.21M	214.93M	234.47M	235.04M	331.71M	314.95M	329.4M

Cash Flow

	Jul 2016	Jul 2017	Jul 2018	Jul 2019	Jul 2020	Jul 2021	Jul 2022	Jul 2023	Jul 2024	Jul 2025
Cash from Operations+	426.76M	456.91M	551.63M	634.23M	394.95M	525.25M	710.5M	639.56M	586.77M	554.87M
Operating CF Margin %	0.27%	0.24%	0.27%	0.28%	0.2%	0.28%	0.28%	0.22%	0.2%	0.19%
Operating CF Growth %	0.41%	0.07%	0.21%	0.15%	-0.38%	0.33%	0.35%	-0.1%	-0.08%	-0.05%
Net Income	149.45M	231.72M	401.23M	323.49M	109.06M	124.46M	368.34M	285.1M	246.28M	280M
Depreciation & Amortization	161.49M	189.16M	204.46M	218.12M	249.57M	252.59M	252.39M	268.5M	276.49M	296.44M
Stock-Based Compensation	17.02M	18.32M	19.04M	19.86M	21.02M	24.39M	24.89M	25.41M	26.8M	33.96M
Deferred Taxes	7.63M	36.44M	-45.77M	22.42M	17.43M	-16.14M	-9.39M	24.07M	12.1M	0
Other Non-Cash Items	12.23M	-2.03M	2.24M	-482K	21.21M	12.54M	-20.2M	54.22M	49.84M	-29.55M
Working Capital Changes	78.94M	-16.68M	-29.57M	50.83M	-23.35M	127.41M	94.48M	-17.73M	-24.73M	-25.98M
Change in Receivables	-32.99M	-36.29M	-44.26M	-35.41M	167.35M	-237.19M	-39.01M	4.25M	12.89M	-6.71M
Change in Inventory	-843K	8.09M	-963K	-7.27M	-1.92M	22.78M	-28.05M	-23.42M	13.19M	1.2M
Change in Payables	42.37M	-14.18M	1.88M	23.3M	-82.39M	118.98M	41.08M	-7.51M	9.37M	18.4M
Cash from Investing+	-124.02M	-682.84M	-134.58M	-596.03M	-492.74M	-103.33M	-347.92M	-273.17M	-241.07M	-204.5M
Capital Expenditures	-109.24M	-144.43M	-140.61M	-192.03M	-172.33M	-115.1M	-192.82M	-314.91M	-211.2M	-235.19M
CapEx % of Revenue	0.07%	0.08%	0.07%	0.08%	0.09%	0.06%	0.08%	0.11%	0.07%	0.08%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	5.47M	14.82M	7.39M	15.04M	7.15M	11.77M	75.65M	14.58M	6.84M	30.69M
Cash from Financing+	-271.22M	271.89M	-350.71M	-99.56M	376.23M	434.66M	-493.14M	-915.71M	-574.79M	-242.65M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-103.83M	-146.24M	-204.16M	-260.57M	-212.73M	0	-225.79M	-314.35M	-323.68M	-328.17M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	6.05M	-941K	-117.83M	-43.45M	-50.97M	-20.87M	-8.41M	-27.47M	-45.24M	-39.22M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	317.52M	312.48M	411.01M	442.2M	222.62M	410.15M	517.68M	324.65M	375.58M	319.68M
FCF Margin %	0.2%	0.16%	0.2%	0.19%	0.11%	0.21%	0.2%	0.11%	0.13%	0.11%
FCF Growth %	0.77%	-0.02%	0.32%	0.08%	-0.5%	0.84%	0.26%	-0.37%	0.16%	-0.15%
FCF per Share	8.51	7.74	9.88	10.74	5.45	10.05	12.72	8.17	9.89	8.59
FCF Conversion (FCF/Net Income)	2.85x	2.17x	1.45x	2.11x	4.00x	4.11x	2.04x	2.39x	2.55x	1.98x
Interest Paid	33.24M	46.45M	53.84M	70.89M	88.4M	125.67M	114.07M	140.6M	146.56M	156.37M
Taxes Paid	21.99M	49.37M	16.95M	27.21M	4.13M	5.01M	19.69M	94.34M	129.35M	161.66M

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	16.93%	15.67%	21.04%	17.02%	6.07%	7.61%	18.93%	16.85%	19.41%	31.24%
Return on Invested Capital (ROIC)	13.1%	12.57%	10.38%	11.63%	4.75%	5.21%	12.29%	10.13%	9.75%	11.17%
Gross Margin	28.03%	43.06%	43.12%	42.89%	39.52%	43.46%	46.58%	42.26%	42.61%	93.86%
Net Margin	9.35%	11.04%	18.89%	13.26%	5.03%	6.69%	13.77%	9.28%	7.99%	9.45%
Debt / Equity	0.82x	0.72x	0.71x	0.92x	1.77x	1.68x	1.59x	2.26x	2.93x	4.57x
Interest Coverage	6.68x	7.01x	6.47x	5.99x	2.09x	1.72x	4.06x	3.30x	3.04x	3.26x
FCF Conversion	2.85x	2.17x	1.45x	2.11x	4.00x	4.11x	2.04x	2.39x	2.55x	1.98x
Revenue Growth	14.38%	19.11%	5.47%	12.93%	-13.55%	-2.75%	32.27%	14.39%	-0.14%	2.73%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Lodging revenue (excluding payroll cost reimbursements)	-	-	-	300.33M	237.87M	211.51M	300.35M	323.14M	319.83M	319.75M
Lodging revenue (excluding payroll cost reimbursements) Growth	-	-	-	-	-20.80%	-11.08%	42.00%	7.59%	-1.02%	-0.03%
Owned Hotel Revenue	-	-	-	64.83M	44.99M	47.51M	80.58M	80.12M	83.98M	88.18M
Owned Hotel Revenue Growth	-	-	-	-	-30.60%	5.59%	69.61%	-0.57%	4.82%	5.01%
Managed condominium rooms	-	-	-	86.24M	76.48M	72.22M	97.7M	96.78M	86.2M	81.53M
Managed condominium rooms Growth	-	-	-	-	-11.31%	-5.57%	35.29%	-0.94%	-10.94%	-5.42%
Dining	121.01M	150.59M	161.4M	53.73M	38.25M	19.07M	48.57M	62.45M	63.26M	66.37M
Dining Growth	-	24.44%	7.18%	-66.71%	-28.81%	-50.15%	154.71%	28.57%	1.30%	4.93%
Other Lodging Revenue	-	-	-	54.62M	44.93M	43.01M	46.5M	55.82M	56.37M	52.8M
Other Lodging Revenue Growth	-	-	-	-	-17.73%	-4.29%	8.12%	20.03%	0.99%	-6.32%
Golf	-	-	-	19.65M	17.41M	20.44M	10.97M	12.74M	13.72M	16.01M
Golf Growth	-	-	-	-	-11.38%	17.37%	-46.30%	16.05%	7.73%	16.66%
Transportation	-	-	-	21.27M	15.8M	9.27M	16.02M	15.24M	16.31M	14.85M
Transportation Growth	-	-	-	-	-25.75%	-41.31%	72.81%	-4.86%	7.00%	-8.93%
Payroll cost reimbursements	-	-	-	14.33M	10.55M	6.55M	11.74M	17.25M	16.29M	14.29M
Payroll cost reimbursements Growth	-	-	-	-	-26.39%	-37.88%	79.19%	46.92%	-5.59%	-12.26%
Lift Tickets	658.05M	818.34M	880.29M	-	-	-	-	-	-	-
Lift Tickets Growth	-	24.36%	7.57%	-	-	-	-	-	-	-
Retail Rental	241.13M	293.43M	296.47M	-	-	-	-	-	-	-
Retail Rental Growth	-	21.69%	1.04%	-	-	-	-	-	-	-
Other Mountain Revenue	141.17M	171.68M	194.85M	-	-	-	-	-	-	-
Other Mountain Revenue Growth	-	21.62%	13.50%	-	-	-	-	-	-	-
Ski School	143.25M	177.75M	189.91M	-	-	-	-	-	-	-
Ski School Growth	-	24.08%	6.84%	-	-	-	-	-	-	-

Revenue by Geography

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
CANADA	-	-	-	-	-	-	-	-	-	335.3M
CANADA Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Vail Resorts, Inc. (MTN) has a price-to-earnings (P/E) ratio of 18.5x. This is roughly in line with market averages.

Growth & Financials

Vail Resorts, Inc. (MTN) reported $2.97B in revenue for fiscal year 2025. This represents a 190% increase from $1.02B in 2012.

Vail Resorts, Inc. (MTN) grew revenue by 2.7% over the past year. Growth has been modest.

Yes, Vail Resorts, Inc. (MTN) is profitable, generating $266.1M in net income for fiscal year 2025 (9.4% net margin).

Dividend & Returns

Yes, Vail Resorts, Inc. (MTN) pays a dividend with a yield of 6.34%. This makes it attractive for income-focused investors.

Vail Resorts, Inc. (MTN) has a return on equity (ROE) of 31.2%. This is excellent, indicating efficient use of shareholder capital.

Vail Resorts, Inc. (MTN) generated $352.5M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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