MTN

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Vail Resorts, Inc.

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Key Metrics

Previous Close: $153.05
52-Week Range: $118.51 – $165.50
Market Cap: $5.35B
P/E (TTM): 32.38
EPS (TTM): 4.64
Dividend Yield: 5.80%

Advanced Metrics

Price/Book: 9.70
PEG Ratio: 3.33
Return on Equity: 16.85%
Return on Assets: 4.86%
Gross Margin: 43.33%
Operating Margin: 42.10%
Profit Margin: 5.54%
Current Ratio: 0.91
Debt/Equity: 3.56
Total Debt: $3.26B
Free Cash Flow: $134.86M
Revenue Growth: -7.00%
Earnings Growth: -15.80%
Enterprise Value: $8.60B

MTN Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$2.53B	$2.89B	$2.89B	$2.96B
Cost of Revenue	$1.35B	$1.67B	$1.66B	$1.70B
Gross Profit	$1.18B	$1.22B	$1.23B	$1.27B
Selling, General & Admin	$347.49M	$389.46M	$410.03M	$433.71M
Operating Expenses	$599.88M	$658.64M	$689.10M	$730.15M
Operating Income	$576.74M	$562.48M	$540.15M	$538.00M
EBITDA	$857.74M	$795.04M	$783.43M	$870.46M
Pretax Income	$457.16M	$370.42M	$339.75M	$402.40M
Income Tax	$88.82M	$87.64M	$92.78M	$104.42M
Net Income	$347.92M	$265.82M	$231.10M	$280.00M
Diluted EPS	8.55	6.69	6.07	7.53
Diluted Shares	40.69M	39.76M	37.96M	37.20M

MTN Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$1.11B	$562.98M	$322.83M	$440.29M
Receivables	$383.43M	$381.07M	$375.75M	$382.37M
Inventory	$108.72M	$132.55M	$118.99M	$117.18M
Current Assets	$1.79B	$1.21B	$901.96M	$1.05B
Total Assets	$6.32B	$5.95B	$5.69B	$5.78B
Current Liabilities	$1.11B	$1.13B	$1.11B	$1.67B
Long-Term Debt	$2.67B	$2.75B	$2.73B	$2.59B
Total Debt	$2.94B	$3.03B	$3.06B	$3.44B
Total Liabilities	$4.47B	$4.61B	$4.66B	$5.02B
Retained Earnings	$895.89M	$873.71M	$766.83M	$718.66M
Shareholders' Equity	$1.61B	$1.00B	$709.93M	$424.50M
Working Capital	$680.68M	$77.42M	-$204.58M	-$617.84M
Net Debt	$1.63B	$2.26B	$2.47B	$2.75B

MTN Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$710.50M	$637.86M	$589.02M	$554.87M
Capital Expenditure	-$192.82M	-$314.91M	-$211.20M	-$235.19M
Free Cash Flow	$517.68M	$322.94M	$377.82M	$319.68M
Depreciation & Amortisation	$252.39M	$269.18M	$279.07M	$296.44M
Stock-Based Compensation	$24.89M	$25.41M	$26.80M	$33.96M
Investing Cash Flow	-$347.92M	-$273.17M	-$241.07M	-$204.50M
Financing Cash Flow	-$493.14M	-$914.00M	-$577.04M	-$242.65M
Dividends Paid	-$225.79M	-$314.35M	-$323.68M	-$328.17M
Share Repurchases	-$75.01M	-$500.00M	-$150.00M	-$270.00M
Net Change in Cash	-$130.55M	-$549.31M	-$229.08M	$107.73M

MTN Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$1.30B	$271.29M	$271.03M	$1.08B	$1.21B
Cost of Revenue	$544.03M	$290.11M	$302.93M	$541.48M	$518.05M
Gross Profit	$751.53M	-$18.82M	-$31.90M	$542.45M	$687.12M
Selling, General & Admin	$106.01M	$106.31M	$110.42M	$121.62M	$102.56M
Operating Expenses	$182.08M	$183.38M	$183.54M	$195.97M	$179.78M
Operating Income	$569.45M	-$202.21M	-$215.44M	$346.48M	$507.35M
EBITDA	$659.36M	-$124.74M	-$132.67M	$421.96M	$574.39M
Pretax Income	$541.39M	-$247.61M	-$257.07M	$298.13M	$445.85M
Income Tax	$130.07M	-$54.70M	-$60.62M	$72.29M	$105.63M
Net Income	$389.74M	-$185.46M	-$186.75M	$210.01M	$314.44M
Diluted EPS	10.54	-5.08	-5.20	5.87	8.81
Diluted Shares	37.28M	36.52M	35.91M	35.78M	35.69M

MTN Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$467.03M	$440.29M	$581.47M	$384.74M	$371.37M
Receivables	$335.90M	$382.37M	$175.78M	$160.05M	$356.92M
Inventory	$114.57M	$117.18M	$154.38M	$141.38M	$129.07M
Current Assets	$1.00B	$1.05B	$1.05B	$822.72M	$952.22M
Total Assets	$5.76B	$5.78B	$5.76B	$5.60B	$5.69B
Current Liabilities	$1.63B	$1.67B	$1.94B	$1.32B	$1.04B
Long-Term Debt	$2.11B	$2.59B	$2.58B	$2.86B	$2.95B
Total Debt	$2.95B	$3.44B	$3.42B	$3.18B	$3.26B
Total Liabilities	$4.53B	$5.02B	$5.30B	$4.96B	$4.77B
Retained Earnings	$997.44M	$718.66M	$452.10M	$583.00M	$818.33M
Shareholders' Equity	$895.38M	$424.50M	$156.46M	$301.82M	$551.73M
Working Capital	-$628.77M	-$617.84M	-$889.36M	-$500.65M	-$92.48M
Net Debt	$2.23B	$2.75B	$2.59B	$2.55B	$2.65B

MTN Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$115.43M	-$171.56M	$315.94M	$259.91M	$6.82M
Capital Expenditure	-$33.22M	-$55.94M	-$71.67M	-$74.91M	-$35.06M
Free Cash Flow	$82.21M	-$227.50M	$244.27M	$185.00M	-$28.24M
Depreciation & Amortisation	$76.07M	$77.08M	$73.12M	$74.35M	$77.22M
Stock-Based Compensation	$6.97M	$12.78M	$6.24M	$6.96M	$7.44M
Investing Cash Flow	-$27.46M	-$49.02M	-$71.67M	-$74.33M	-$32.94M
Financing Cash Flow	-$132.49M	$194.90M	-$100.98M	-$392.18M	$5.90M
Dividends Paid	-$82.48M	-$79.71M	-$79.81M	-$79.10M	-$79.11M
Share Repurchases	-$30.00M	-$200.00M	$0.00	-$45.00M	$0.00
Net Change in Cash	-$44.52M	-$25.67M	$143.29M	-$206.60M	-$20.22M

Market Snapshot

About

Vail Resorts, Inc. is a leading mountain resort operator that owns and operates over 40 premier ski resorts and regional ski areas across North America, including iconic destinations such as Vail, Beaver Creek, Breckenridge, and Park City in the United States, and Whistler Blackcomb in Canada. The company offers season passes, lodging, dining, retail, and other mountain resort services.