A Business at a Glance
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Vail Resorts, Inc., together with its subsidiaries, is referred to throughout this document as “we,” “us,” “our” or the “Company.” Vail Resorts, Inc., a Delaware corporation, was organized as a holding company in 1997 and operates through various subsidiaries. Our operations are grouped into three reportable segments: Mountain, Lodging and Real Estate, which represented approximately 89%, 11% and 0%, respectively, of our net revenue for our fiscal year ended July 31, 2025 (“Fiscal 2025”). Our Mountain segment operates 42 world-class destination mountain resorts and regional ski areas (collectively, our “Resorts”). Additionally, the Mountain segment includes ancillary services, primarily including ski school, dining and retail/rental operations.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 2.9B | 3.0B | 2.9B | 2.9B | 2.5B | 1.9B |
| Net Income | 231M | 280M | 231M | 266M | 348M | 128M |
| EPS | $4.91 | $7.53 | $6.09 | $6.69 | $8.55 | $3.13 |
| Free Cash Flow | 286M | 320M | 378M | 323M | 518M | 410M |
| ROIC | 13.4% | 11.4% | 8.5% | 9.0% | 13.1% | 8.0% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 9.71 | 7.52 | 5.17 | 3.80 | 2.38 | 1.79 |
| Dividends/Share | $6.83 | $8.88 | $8.56 | $7.94 | $5.58 | $0.00 |
| Operating Income | 513M | 560M | 489M | 504M | 602M | 261M |
| Operating Margin | 17.6% | 18.9% | 16.9% | 17.5% | 23.8% | 13.7% |
| ROE | 76.4% | 48.8% | 26.8% | 20.3% | 21.7% | 8.8% |
| Shares Outstanding | 47M | 37M | 38M | 40M | 41M | 41M |
VAIL RESORTS INC passes 6 of 9 quality checks, suggesting mixed fundamentals.
VAIL RESORTS INC trades at 18.8x trailing earnings, compared to its 15-year median P/E of 27.8x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 13.2x vs a median of 19.5x. The company's 5-year average ROIC is 10.0%. Total shareholder yield (dividends + buybacks) is 9.7%. At current prices, the estimated annualized return to fair value is +2.6%.
VAIL RESORTS INC (MTN) has a current P/E ratio of 18.8, compared to its historical median P/E of 27.8. The stock is currently considered Fair based on its historical valuation range.
VAIL RESORTS INC (MTN) has a 5-year average return on invested capital (ROIC) of 10.0%. This indicates solid capital allocation.
VAIL RESORTS INC (MTN) has a market capitalization of $6.1B. It is classified as a mid-cap stock.
Yes, VAIL RESORTS INC (MTN) pays a dividend with a trailing twelve-month yield of 5.25%. The company also returns capital through share buybacks, with a buyback yield of 4.49%.
Based on historical P/E analysis, VAIL RESORTS INC (MTN) appears fair. The current P/E of 18.8 is 32% below its historical median of 27.8. The estimated fair value CAGR (P/E method) is 5.5%.
VAIL RESORTS INC (MTN) operates in the Services-Miscellaneous Amusement & Recreation industry, within the Consumer Cyclical sector.
VAIL RESORTS INC (MTN) reported annual revenue of $3.0 billion in its most recent fiscal year, based on SEC EDGAR filings.
VAIL RESORTS INC (MTN) has a net profit margin of 9.4%. This is a modest margin.
VAIL RESORTS INC (MTN) generated $320 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
VAIL RESORTS INC (MTN) has a debt-to-equity ratio of 7.52. This indicates higher leverage, which may increase financial risk.
VAIL RESORTS INC (MTN) reported earnings per share (EPS) of $7.53 in its most recent fiscal year.
VAIL RESORTS INC (MTN) has a return on equity (ROE) of 48.8%. This indicates the company generates strong returns for shareholders.
The Ledger Terminal provides 15 years of financial data for VAIL RESORTS INC (MTN), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
VAIL RESORTS INC (MTN) has a book value per share of $11.42, based on its most recent annual SEC filing.