Vail Resorts, Inc.(MTN)Earnings, Financials & Key Ratios

MTN•NYSE

$126.32

$4.52B mkt cap·16.8× P/E·Price updated May 6, 2026

SectorConsumer Cyclical IndustryCasinos & Gaming Sub-IndustryIntegrated Destination Casino Resorts

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$856M+11.5%
Net Income$280M+21.2%
EPS (Diluted)7.53+24.1%
Gross Margin42.78%+0.4%
EBITDA Margin28.89%+8.5%
Operating Margin18.89%+11.5%
Net Margin9.45%+17.9%
ROE31.24%+60.5%
ROIC11.17%+15.2%
Debt/Equity4.57+55.8%
Interest Coverage3.26+9.9%

Technical→

MTN Key Insights

Vail Resorts, Inc. (MTN) fundamental analysis — strengths, weaknesses & financial health based on 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

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

MTN Price & Volume

Vail Resorts, Inc. (MTN) stock price & volume — 10-year historical chart

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MTN Growth Metrics

Vail Resorts, Inc. (MTN) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years7.79%

5 Years8.59%

3 Years5.48%

TTM-0.83%

Profit CAGR

10 Years9.33%

5 Years23.16%

3 Years-6.98%

TTM-10.96%

EPS CAGR

10 Years9.39%

5 Years25.49%

3 Years-4.15%

TTM-10.41%

Return on Capital

10 Years10.82%

5 Years10.01%

3 Years11.11%

Last Year12.87%

MTN Recent Earnings

Vail Resorts, Inc. (MTN) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 3/12 qtrs (25%)●Beat Revenue 3/12 qtrs (25%)

Q2 2026Latest

Mar 9, 2026

EPS

$5.87

Est $6.06

-3.1%

Revenue

$1.1B

Est $1.1B

-1.0%

Q4 2025

Dec 10, 2025

EPS

$5.20

Est $5.16

-0.8%

Revenue

$271M

Est $278M

-2.4%

Q4 2025

Sep 29, 2025

EPS

$5.08

Est $4.72

-7.6%

Revenue

$271M

Est $274M

-1.2%

Q3 2025

Jun 5, 2025

EPS

$10.54

Est $10.04

+5.0%

Revenue

$1.3B

Est $1.3B

-0.4%

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q2 2026Latest	Mar 9, 2026	$5.87vs $6.06-3.1%	$1.1Bvs $1.1B-1.0%
Q4 2025	Dec 10, 2025	$5.20vs $5.16-0.8%	$271Mvs $278M-2.4%
Q4 2025	Sep 29, 2025	$5.08vs $4.72-7.6%	$271Mvs $274M-1.2%
Q3 2025	Jun 5, 2025	$10.54vs $10.04+5.0%	$1.3Bvs $1.3B-0.4%

Based on last 12 quarters of dataView full earnings history →

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	Debt / Equity
SNOWSnowflake Inc.Direct Competitor	47.86B	139.74	-35.38	29.16%	-28.43%	-65.94%	1.36
CNKCinemark Holdings, Inc.Direct Competitor	3.24B	27.73	26.66	2.15%	4.42%	25.42%	9.14
EPREPR PropertiesDirect Competitor	4.31B	56.33	17.17	12.07%	38.81%	11.68%	1.35
FUNSix Flags Entertainment CorporationProduct Competitor	1.99B	19.69	-8.56	50.61%	-55.65%	-202.66%	2.26
PRKSUnited Parks & Resorts Inc.Product Competitor	1.95B	35.76	11.69	-3.64%	10.13%
PLNTPlanet Fitness, Inc.Product Competitor	5.31B	63.96	31.98	10.3%	15.97%
MARMarriott International, Inc.Supply Chain	95.15B	359.06	37.84	4.33%	11.89%
HLTHilton Worldwide Holdings Inc.Supply Chain	73.19B	321.51	52.53	7.74%	12.56%

Compare MTN vs Peers

Vail Resorts, Inc. (MTN) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs SNOW

Most directly comparable listed peer for MTN.

Scale Benchmark

vs BKNG

Larger-name benchmark to compare MTN against a more recognizable public peer.

Peer Set

Compare Top 5

vs SNOW, CNK, EPR, FUN

MTN Income Statement

Vail Resorts, Inc. (MTN) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Jul'17	Jul'18	Jul'19	Jul'20	Jul'21	Jul'22	Jul'23	Jul'24	Jul'25	TTM
Sales/Revenue	1.91B	2.01B	2.27B	1.96B	1.91B	2.53B	2.89B	2.89B	2.96B	2.92B
Revenue Growth %	19.11%	5.47%	12.93%	-13.55%	-2.75%	32.27%	14.39%	-0.14%	2.74%	-0.83%
Cost of Goods Sold	1.09B	1.14B	1.3B	1.19B	1.08B	1.35B	1.67B	1.66B	1.7B	1.2B
COGS % of Revenue	56.94%	56.88%	57.11%	60.48%	56.54%	53.42%	57.74%	57.39%	57.22%	-
Gross Profit	821.18M▲ 0%	867.34M▲ 5.6%	974.25M▲ 12.3%	776.02M▼ 20.3%	830.04M▲ 7.0%	1.18B▲ 41.8%	1.22B▲ 3.8%	1.23B▲ 0.7%	1.27B▲ 3.2%	1.73B▲ 0%
Gross Margin %	43.06%	43.12%	42.89%	39.52%	43.46%	46.58%	42.26%	42.61%	42.78%	59.08%
Gross Profit Growth %	24.84%	5.62%	12.33%	-20.35%	6.96%	41.75%	3.78%	0.67%	3.16%	-
Operating Expenses	441.92M	458.52M	497.98M	552.63M	569.03M	574.9M	716.71M	740.4M	708.19M	955.81M
OpEx % of Revenue	23.17%	22.79%	21.92%	28.14%	29.8%	22.76%	24.8%	25.66%	23.89%	-
Selling, General & Admin	236.8M	251.81M	274.42M	278.69M	296.99M	347.49M	389.46M	410.03M	433.71M	444.36M
SG&A % of Revenue	12.42%	12.52%	12.08%	14.19%	15.55%	13.76%	13.48%	14.21%	14.63%	-
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	205.12M	206.71M	223.57M	273.94M	272.04M	227.4M	327.24M	330.38M	274.48M	4M
Operating Income	379.26M▲ 0%	408.82M▲ 7.8%	476.27M▲ 16.5%	223.39M▼ 53.1%	261.02M▲ 16.8%	601.73M▲ 130.5%	504.42M▼ 16.2%	488.85M▼ 3.1%	559.96M▲ 14.5%	770.35M▲ 0%
Operating Margin %	19.89%	20.32%	20.97%	11.38%	13.67%	23.82%	17.46%	16.94%	18.89%	26.37%
Operating Income Growth %	34.02%	7.79%	16.5%	-53.1%	16.84%	130.53%	-16.17%	-3.09%	14.55%	-
EBITDA	568.41M	613.28M	694.39M	472.96M	513.6M	854.12M	773.6M	767.92M	856.4M	1.07B
EBITDA Margin %	29.8%	30.49%	30.57%	24.09%	26.89%	33.81%	26.77%	26.62%	28.89%	36.61%
EBITDA Growth %	27.89%	7.89%	13.23%	-31.89%	8.59%	66.3%	-9.43%	-0.73%	11.52%	31.14%
D&A (Non-Cash Add-back)	189.16M	204.46M	218.12M	249.57M	252.59M	252.39M	269.18M	279.07M	296.44M	299.16M
EBIT	402.54M	403.32M	478.46M	223.15M	276.58M	605.34M	525.86M	504.35M	574.02M	781.7M
Net Interest Income	-54.09M	-63.23M	-79.5M	-106.72M	-151.4M	-148.18M	-155.45M	-164.6M	-171.63M	-187.87M
Interest Income	0	0	0	0	586K	0	0	0	0	0
Interest Expense	54.09M	63.23M	79.5M	106.72M	151.4M	148.18M	155.45M	164.6M	171.63M	187.87M
Other Income/Expense	-30.81M	-68.72M	-77.3M	-106.96M	-135.83M	-144.57M	-134M	-149.09M	-157.56M	-431.53M
Pretax Income	348.45M▲ 0%	340.09M▼ 2.4%	398.96M▲ 17.3%	116.43M▼ 70.8%	125.18M▲ 7.5%	457.16M▲ 265.2%	370.42M▼ 19.0%	339.75M▼ 8.3%	402.4M▲ 18.4%	338.82M▲ 0%
Pretax Margin %	18.27%	16.91%	17.56%	5.93%	6.56%	18.1%	12.82%	11.78%	13.57%	11.6%
Income Tax	116.73M	-61.14M	75.47M	7.38M	726K	88.82M	87.64M	92.78M	104.42M	103.85M
Effective Tax Rate %	33.5%	-17.98%	18.92%	6.34%	0.58%	19.43%	23.66%	27.31%	25.95%	30.65%
Net Income	210.55M▲ 0%	379.9M▲ 80.4%	301.16M▼ 20.7%	98.83M▼ 67.2%	127.85M▲ 29.4%	347.92M▲ 172.1%	265.82M▼ 23.6%	231.1M▼ 13.1%	280M▲ 21.2%	230.55M▲ 0%
Net Margin %	11.04%	18.89%	13.26%	5.03%	6.69%	13.77%	9.2%	8.01%	9.45%	7.89%
Net Income Growth %	40.6%	80.43%	-20.73%	-67.18%	29.36%	172.13%	-23.6%	-13.06%	21.16%	-10.96%
Net Income (Continuing)	231.72M	401.23M	323.49M	109.06M	124.46M	368.34M	282.78M	246.98M	297.98M	234.97M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	227.8M	222.23M	226.21M	214.93M	234.47M	235.04M	331.71M	314.95M	329.4M	342.97M
EPS (Diluted)	5.22▲ 0%	9.13▲ 74.9%	7.32▼ 19.8%	2.42▼ 66.9%	3.13▲ 29.3%	8.55▲ 173.2%	6.69▼ 21.8%	6.07▼ 9.3%	7.53▲ 24.1%	6.42▲ 0%
EPS Growth %	30.17%	74.9%	-19.82%	-66.94%	29.34%	173.16%	-21.75%	-9.27%	24.05%	-10.41%
EPS (Basic)	5.36	9.40	7.46	2.45	3.17	8.60	6.70	6.08	7.54	-
Diluted Shares Outstanding	40.37M	41.62M	41.16M	40.84M	40.83M	40.69M	39.76M	37.96M	37.2M	35.91M
Basic Shares Outstanding	39.25M	40.4M	40.35M	40.27M	40.3M	40.47M	39.65M	37.87M	37.16M	35.91M
Dividend Payout Ratio	69.45%	53.74%	86.52%	215.24%	-	64.9%	118.25%	140.06%	117.2%	-

MTN Balance Sheet

Vail Resorts, Inc. (MTN) balance sheet — assets, liabilities & shareholders' equity

Line item	Jul'17	Jul'18	Jul'19	Jul'20	Jul'21	Jul'22	Jul'23	Jul'24	Jul'25	TTM
Total Current Assets	433.07M	538.74M	527.94M	665.09M	1.75B	1.79B	1.21B	911.36M	1.05B	822.72M
Cash & Short-Term Investments	117.39M	178.15M	108.85M	390.98M	1.24B	1.11B	562.98M	322.83M	440.29M	384.74M
Cash Only	117.39M	178.15M	108.85M	390.98M	1.24B	1.11B	562.98M	322.83M	440.29M	384.74M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	186.91M	230.83M	270.9M	106.66M	345.41M	383.43M	381.07M	375.75M	382.37M	160.05M
Days Sales Outstanding	35.77	41.88	43.53	19.83	66.02	55.41	48.14	47.54	47.08	32.92
Inventory	84.81M	85.59M	96.54M	101.86M	80.32M	108.72M	132.55M	118.99M	117.18M	141.38M
Days Inventory Outstanding	28.5	27.3	27.16	31.3	27.15	29.41	29	26.23	25.22	40.26
Other Current Assets	43.95M	44.17M	51.66M	65.59M	75.9M	191.96M	88.3M	42.27M	51.86M	136.56M
Total Non-Current Assets	3.68B	3.53B	3.9B	4.58B	4.51B	4.53B	4.74B	4.79B	4.73B	4.78B
Property, Plant & Equipment	1.71B	1.63B	1.84B	2.42B	2.27B	2.31B	2.56B	2.68B	2.62B	2.65B
Fixed Asset Turnover	1.11x	1.24x	1.23x	0.81x	0.84x	1.09x	1.13x	1.08x	1.13x	1.48x
Goodwill	1.52B	1.48B	1.61B	1.71B	1.78B	1.75B	1.72B	1.68B	1.68B	1.7B
Intangible Assets	294.93M	280.57M	306.17M	314.78M	319.11M	314.06M	309.35M	302.54M	298.5M	300.08M
Long-Term Investments	111M	107.08M	-168.76M	-234.19M	-252.82M	95.98M	90.21M	86.55M	87.85M	260.97M
Other Non-Current Assets	-133.63M	-98.23M	141.26M	136.93M	132.72M	-217.06M	-220.24M	-239.06M	49.39M	2.9B
Total Assets	4.11B▲ 0%	4.06B▼ 1.1%	4.43B▲ 8.9%	5.24B▲ 18.5%	6.25B▲ 19.2%	6.32B▲ 1.1%	5.95B▼ 5.9%	5.7B▼ 4.2%	5.78B▲ 1.4%	5.6B▲ 0%
Asset Turnover	0.46x	0.49x	0.51x	0.37x	0.31x	0.40x	0.49x	0.51x	0.51x	0.51x
Asset Growth %	65.62%	-1.11%	8.88%	18.48%	19.2%	1.07%	-5.86%	-4.19%	1.39%	4.01%
Total Current Liabilities	604.56M	593.62M	719.13M	603.47M	978.4M	1.11B	1.13B	1.11B	1.67B	1.32B
Accounts Payable	71.56M	80.79M	96.38M	59.69M	98.26M	151.26M	148.52M	141.25M	139.98M	0
Days Payables Outstanding	24.05	25.77	27.12	18.34	33.22	40.92	32.5	31.13	30.12	31.42
Short-Term Debt	38.4M	38.45M	48.52M	63.68M	114.12M	63.75M	69.16M	59.31M	599.51M	73M
Deferred Revenue (Current)	240.1M	282.1M	335.67M	256.4M	456.46M	511.31M	572.6M	575.77M	602.12M	2B
Other Current Liabilities	78.64M	67.64M	87.7M	77.12M	124.43M	136.27M	120.62M	-8.93M	64.87M	1.25B
Current Ratio	0.72x	0.91x	0.73x	1.10x	1.78x	1.61x	1.07x	0.82x	0.63x	0.63x
Quick Ratio	0.58x	0.76x	0.60x	0.93x	1.70x	1.51x	0.95x	0.72x	0.56x	0.56x
Cash Conversion Cycle	40.23	43.41	43.57	32.78	59.95	43.9	44.64	42.63	42.18	41.76
Total Non-Current Liabilities	1.71B	1.66B	1.98B	3.11B	3.44B	3.36B	3.48B	3.55B	3.36B	3.63B
Long-Term Debt	905.24M	1.23B	1.22B	2.39B	2.75B	2.67B	2.75B	2.73B	2.21B	211.9M
Capital Lease Obligations	328.79M	0	312.01M	217.54M	190.56M	174.57M	168.33M	235.11M	598.54M	1.03B
Deferred Tax Liabilities	171.44M	133.92M	168.76M	234.19M	320.67M	268.46M	276.14M	327.78M	252.04M	1.06B
Other Non-Current Liabilities	183.32M	177.19M	173.85M	165.14M	183.24M	246.36M	286.26M	260.78M	294.46M	4.04B
Total Liabilities	2.31B	2.25B	2.7B	3.71B	4.42B	4.47B	4.61B	4.66B	5.02B	4.96B
Total Debt	1.3B	1.29B	1.6B	2.71B	3.08B	2.94B	3.03B	3.04B	3.44B	284.9M
Net Debt	1.18B	1.12B	1.49B	2.32B	1.83B	1.84B	2.46B	2.72B	3B	-99.83M
Debt / Equity	0.72x	0.71x	0.92x	1.77x	1.68x	1.59x	2.26x	2.93x	4.57x	4.57x
Debt / EBITDA	2.28x	2.11x	2.30x	5.72x	5.99x	3.45x	3.91x	3.97x	4.02x	0.27x
Net Debt / EBITDA	2.08x	1.82x	2.14x	4.90x	3.57x	2.15x	3.18x	3.54x	3.51x	3.51x
Interest Coverage	7.01x	6.47x	5.99x	2.09x	1.72x	4.06x	3.24x	2.97x	3.26x	4.16x
Total Equity	1.8B▲ 0%	1.81B▲ 0.7%	1.73B▼ 4.7%	1.53B▼ 11.3%	1.83B▲ 19.4%	1.85B▲ 1.0%	1.34B▼ 27.7%	1.04B▼ 22.2%	753.9M▼ 27.4%	644.79M▲ 0%
Equity Growth %	102.48%	0.71%	-4.68%	-11.3%	19.42%	1.01%	-27.7%	-22.25%	-27.4%	-92.1%
Book Value per Share	44.57	43.53	41.96	37.51	44.80	45.41	33.59	27.36	20.26	17.96
Total Shareholders' Equity	1.57B	1.59B	1.5B	1.32B	1.59B	1.61B	1B	723.54M	424.5M	301.82M
Common Stock	455K	461K	462K	464K	466K	467K	468K	469K	469K	470K
Retained Earnings	550.99M	726.72M	759.8M	645.9M	773.75M	895.89M	873.71M	780.43M	718.66M	583M
Treasury Stock	-247.19M	-272.99M	-357.99M	-404.41M	-404.41M	-479.42M	-984.31M	-1.14B	-1.41B	0
Accumulated OCI	44.4M	-2.23M	-31.73M	-56.84M	27.8M	10.92M	-10.36M	-67.29M	-57.89M	-8.46M
Minority Interest	227.8M	222.23M	226.21M	214.93M	234.47M	235.04M	331.71M	314.95M	329.4M	342.97M

MTN Cash Flow Statement

Vail Resorts, Inc. (MTN) cash flow — operating, investing & free cash flow history

Line item	Jul'17	Jul'18	Jul'19	Jul'20	Jul'21	Jul'22	Jul'23	Jul'24	Jul'25	TTM
Cash from Operations	456.91M	551.63M	634.23M	394.95M	525.25M	710.5M	639.56M	586.77M	554.87M	554.87M
Operating CF Margin %	23.96%	27.42%	27.92%	20.11%	27.5%	28.13%	22.14%	20.34%	18.72%	-
Operating CF Growth %	7.07%	20.73%	14.97%	-37.73%	32.99%	35.27%	-9.98%	-8.25%	-5.44%	-83.33%
Net Income	231.72M	401.23M	323.49M	109.06M	124.46M	368.34M	285.1M	246.28M	297.98M	230.55M
Depreciation & Amortization	189.16M	204.46M	218.12M	249.57M	252.59M	252.39M	268.5M	276.49M	296.44M	299.16M
Stock-Based Compensation	18.32M	19.04M	19.86M	21.02M	24.39M	24.89M	25.41M	26.8M	33.96M	32.95M
Deferred Taxes	36.44M	-45.77M	22.42M	17.43M	-16.14M	-9.39M	24.07M	12.1M	-20.95M	-49.03M
Other Non-Cash Items	-2.03M	2.24M	-482K	21.21M	12.54M	-20.2M	54.22M	49.84M	-26.57M	372.61M
Working Capital Changes	-16.68M	-29.57M	50.83M	-23.35M	127.41M	94.48M	-17.73M	-24.73M	-25.98M	-384.46M
Change in Receivables	-36.29M	-44.26M	-35.41M	167.35M	-237.19M	-39.01M	4.25M	12.89M	-6.71M	-32.17M
Change in Inventory	8.09M	-963K	-7.27M	-1.92M	22.78M	-28.05M	-23.42M	13.19M	1.2M	-6.86M
Change in Payables	-14.18M	1.88M	23.3M	-82.39M	118.98M	41.08M	-7.51M	9.37M	18.4M	16.5M
Cash from Investing	-682.84M	-134.58M	-596.03M	-492.74M	-103.33M	-347.92M	-273.17M	-241.07M	-204.5M	-222.48M
Capital Expenditures	-144.43M	-140.61M	-192.03M	-172.33M	-115.1M	-192.82M	-314.91M	-211.2M	-235.19M	-235.75M
CapEx % of Revenue	7.57%	6.99%	8.45%	8.78%	6.03%	7.63%	10.9%	7.32%	7.93%	-
Acquisitions	-553.22M	-1.36M	-419.04M	-327.56M	0	-230.75M	75.94M	-94.36M	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	14.82M	7.39M	15.04M	7.15M	11.77M	75.65M	14.58M	6.84M	30.69M	13.27M
Cash from Financing	271.89M	-350.71M	-99.56M	376.23M	434.66M	-493.14M	-915.71M	-574.79M	-242.65M	-433.06M
Debt Issued (Net)	419.28M	-2.93M	289.46M	686.35M	494.62M	-146.63M	-73.89M	-55.86M	402.78M	463.08M
Equity Issued (Net)	-210K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-2M
Dividends Paid	-146.24M	-204.16M	-260.57M	-212.73M	0	-225.79M	-314.35M	-323.68M	-328.17M	-321.11M
Share Repurchases	-210K	-25.8M	-85M	-46.42M	0	-75.01M	-500M	-150M	-270M	-275M
Other Financing	-941K	-117.83M	-43.45M	-50.97M	-20.87M	-8.41M	-27.47M	-45.24M	-39.22M	-345.03M
Net Change in Cash	49.49M▲ 0%	60.76M▲ 22.8%	-66.65M▼ 209.7%	283.7M▲ 525.6%	856.49M▲ 201.9%	-132.47M▼ 115.5%	-553.01M▼ 317.5%	-236.03M▲ 57.3%	119.36M▲ 150.6%	-98.72M▲ 0%
Free Cash Flow	312.48M▲ 0%	411.01M▲ 31.5%	442.2M▲ 7.6%	222.62M▼ 49.7%	410.15M▲ 84.2%	517.68M▲ 26.2%	324.65M▼ 37.3%	375.58M▲ 15.7%	319.68M▼ 14.9%	286.29M▲ 0%
FCF Margin %	16.38%	20.43%	19.47%	11.34%	21.48%	20.49%	11.24%	13.02%	10.78%	9.8%
FCF Growth %	-1.59%	31.53%	7.59%	-49.66%	84.24%	26.22%	-37.29%	15.69%	-14.88%	-27.95%
FCF per Share	7.74	9.88	10.74	5.45	10.05	12.72	8.17	9.89	8.59	8.59
FCF Conversion (FCF/Net Income)	2.17x	1.45x	2.11x	4.00x	4.11x	2.04x	2.41x	2.54x	1.98x	1.24x
Interest Paid	46.45M	53.84M	70.89M	88.4M	125.67M	114.07M	140.6M	146.56M	156.37M	0
Taxes Paid	49.37M	16.95M	27.21M	4.13M	5.01M	19.69M	94.34M	129.35M	161.66M	0

MTN Key Ratios

Vail Resorts, Inc. (MTN) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025	TTM
Return on Equity (ROE)	15.67%	21.04%	17.02%	6.07%	7.61%	18.93%	16.7%	19.47%	31.24%	29.72%
Return on Invested Capital (ROIC)	12.57%	10.38%	11.63%	4.75%	5.21%	12.29%	10.11%	9.7%	11.17%	11.17%
Gross Margin	43.06%	43.12%	42.89%	39.52%	43.46%	46.58%	42.26%	42.61%	42.78%	59.08%
Net Margin	11.04%	18.89%	13.26%	5.03%	6.69%	13.77%	9.2%	8.01%	9.45%	7.89%
Debt / Equity	0.72x	0.71x	0.92x	1.77x	1.68x	1.59x	2.26x	2.93x	4.57x	4.57x
Interest Coverage	7.01x	6.47x	5.99x	2.09x	1.72x	4.06x	3.24x	2.97x	3.26x	4.16x
FCF Conversion	2.17x	1.45x	2.11x	4.00x	4.11x	2.04x	2.41x	2.54x	1.98x	1.24x
Revenue Growth	19.11%	5.47%	12.93%	-13.55%	-2.75%	32.27%	14.39%	-0.14%	2.74%	-0.83%

MTN SEC Filings & Documents

Vail Resorts, Inc. (MTN) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Mar 17, 2026·SEC

Material company update

Mar 9, 2026·SEC

Material company update

Feb 12, 2026·SEC

10-K Annual Reports

FY 2025

Sep 29, 2025·SEC

FY 2024

Sep 26, 2024·SEC

FY 2023

Sep 28, 2023·SEC

10-Q Quarterly Reports

FY 2026

Mar 9, 2026·SEC

FY 2025

Dec 10, 2025·SEC

FY 2025

Jun 5, 2025·SEC

MTN Frequently Asked Questions

Vail Resorts, Inc. (MTN) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Vail Resorts, Inc. (MTN) reported $2.92B in revenue for fiscal year 2025. This represents a 1448% increase from $188.8M in 1996.

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 $230.5M 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 6.98%. 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 $286.3M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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