Vail Resorts Inc (MTN)
Vail Resorts, Inc., together with its subsidiaries, operates mountain resorts and regional ski areas in the United States and internationally. It operates in three segments: Mountain, Lodging, and Real Estate. The Mountain segment operates destination mountain resorts and regional ski areas. This segment is also involved in ancillary activities, including ski school, dining, and retail/rental operations, as well as real estate brokerage activities. Its lodging segment owns and manages various luxury hotels and condominiums under the RockResorts brand; operates other lodging properties and various condominiums; and offers resort ground transportation services. The Real Estate segment owns, develops, and sells real estate properties. Vail Resorts, Inc. was founded in 1962 and is based in Broomfield, Colorado.
- Symbol
- MTN
- Exchange
- NYSE
- Sector
- Consumer Cyclical
- Industry
- Resorts & Casinos
- Market cap
- $4.95B
- 52 week range
- 118.51 - 163.34
Valuation
- Share price
- $140.05 (close of 2026-09-23)
- P/E (TTM)
- 29.95x
- Price to book
- 5.41x
- Price to free cash flow
- 28.24x
- Enterprise value
- $7.84B
- Book value per share
- $25.71
Price performance
| Period | Change |
|---|
| 1 day | -0.27% |
| 5 days | +1.43% |
| 1 month | -8.35% |
| 3 months | -1.64% |
| 6 months | +7.63% |
| Year to date | +5.46% |
| 1 year | -4.73% |
| 3 years | -42.66% |
| 5 years | -57.26% |
| 10 years | -12.77% |
| All time | +522.44% |
Profitability and growth
- Return on equity
- 37.14%
- Return on invested capital
- 12.12%
- Return on assets
- 4.85%
- Return on capital employed
- 13.62%
- Gross margin
- 18.89%
- Net margin
- 9.45%
- EBITDA margin
- 28.89%
- Revenue growth
- 2.74%
- Net income growth
- 21.16%
- Free cash flow growth
- -15.39%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 3.54%
- Current ratio
- 0.91x
- Net debt to EBITDA
- 3.91x
Latest reported year
- Period end
- 2025-07-31
- Fiscal year
- 2025
- Revenue
- $2.96B
- Cost of revenue
- $2.40B
- Gross profit
- $559.96M
- EBITDA
- $856.40M
- Net income
- $280.00M
- Earnings per share
- $7.54
- Interest expense
- $171.63M
- Shares outstanding
- 37.16M
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|
| 2025-07-31 | $2.96B | $559.96M | $280.00M | $7.54 |
| 2024-07-31 | $2.89B | $488.85M | $231.10M | $6.10 |
| 2023-07-31 | $2.89B | $504.42M | $265.82M | $6.70 |
| 2022-07-31 | $2.53B | $601.73M | $347.92M | $8.60 |
| 2021-07-31 | $1.91B | $261.02M | $127.85M | $3.17 |
| 2020-07-31 | $1.96B | $223.39M | $98.83M | $2.45 |
| 2019-07-31 | $2.27B | $476.27M | $301.16M | $7.46 |
| 2018-07-31 | $2.01B | $408.82M | $379.90M | $9.40 |
| 2017-07-31 | $1.91B | $379.26M | $210.55M | $5.36 |
| 2016-07-31 | $1.60B | $282.98M | $149.75M | $4.13 |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|
| 2025-07-31 | 18.89% | 9.45% | 37.14% | 12.12% |
| 2024-07-31 | 16.94% | 8.01% | 22.55% | 10.53% |
| 2023-07-31 | 17.46% | 9.20% | 20.12% | 11.02% |
| 2022-07-31 | 23.82% | 13.77% | 18.96% | 13.97% |
| 2021-07-31 | 13.67% | 6.69% | 6.99% | 6.54% |
| 2020-07-31 | 11.38% | 5.03% | 6.45% | 5.15% |
| 2019-07-31 | 20.97% | 13.26% | 17.44% | 12.55% |
| 2018-07-31 | 20.32% | 18.89% | 20.97% | 14.07% |
| 2017-07-31 | 19.89% | 11.04% | 11.70% | 8.89% |
| 2016-07-31 | 17.67% | 9.35% | 16.86% | 12.48% |
Cash and debt by year
| Period end | Cash | Debt |
|---|
| 2025-07-31 | $440.29M | $2.59B |
| 2024-07-31 | $322.83M | $2.73B |
| 2023-07-31 | $562.98M | $2.75B |
| 2022-07-31 | $1.11B | $2.67B |
| 2021-07-31 | $1.24B | $2.74B |
| 2020-07-31 | $390.98M | $2.39B |
| 2019-07-31 | $108.85M | $1.53B |
| 2018-07-31 | $178.15M | $1.23B |
| 2017-07-31 | $117.39M | $1.23B |
| 2016-07-31 | $67.90M | $686.91M |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|
| 2025-07-31 | $319.68M | $33.96M |
| 2024-07-31 | $377.82M | $26.80M |
| 2023-07-31 | $322.94M | $25.41M |
| 2022-07-31 | $517.68M | $24.89M |
| 2021-07-31 | $410.15M | $24.39M |
| 2020-07-31 | $222.62M | $21.02M |
| 2019-07-31 | $442.20M | $19.86M |
| 2018-07-31 | $407.88M | $19.04M |
| 2017-07-31 | $326.55M | $18.32M |
| 2016-07-31 | $327.74M | $17.02M |
Dividend history
- Most recent payment
- 2026-06-25
- Paid in the last twelve months
- $8.88
| Payment date | Dividend per share |
|---|
| 2026-06-25 | $2.22 |
| 2026-03-26 | $2.22 |
| 2025-12-30 | $2.22 |
| 2025-10-09 | $2.22 |
| 2025-06-24 | $2.22 |
| 2025-03-27 | $2.22 |
| 2024-12-26 | $2.22 |
| 2024-10-08 | $2.22 |
Investor relations
Next earnings report
- Next confirmed report
- 2026-09-28
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-06-08 | Apr/2026 | $8.97 |
| 2026-03-09 | - | - |
| 2025-12-10 | - | - |
| 2025-09-29 | - | - |
| 2025-06-05 | - | - |
| 2025-03-10 | - | - |
| 2024-12-09 | - | - |
| 2024-09-26 | - | - |
Filings and sources
- Company website
- vailresorts.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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Price-to-earnings ratio · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart
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