Vail Resorts, Inc. logo MTN - Vail Resorts, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 24
HOLD 20
SELL 4
STRONG
SELL
0
| PRICE TARGET: $169.50 DETAILS
HIGH: $234.00
LOW: $139.00
MEDIAN: $160.50
CONSENSUS: $169.50
UPSIDE: 33.81%
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996
Revenue
Revenue 2,964.3 2,885.2 2,889.4 2,525.9 1,909.7 1,963.7 2,271.6 2,011.6 1,907.2 1,601.3 1,399.9 1,254.6 1,120.8 1,024.4 1,167.0 894.8 977.0 1,152.2 940.5 838.9 810.0 726.6 713.0 615.3 543.8 539.1 475.7 330.5 330.5 188.8
Cost of Revenue 1,696.2 1,655.9 1,668.2 1,349.3 1,079.7 1,187.7 1,297.3 1,144.2 1,086.0 943.5 878.7 994.2 896.6 836.0 951.5 720.3 762.6 881.5 722.1 642.5 627.6 551.6 590.6 497.5 495.8 429.8 380.1 239 239.0 130.7
Gross Profit 1,268.2 1,229.3 1,221.1 1,176.6 830.0 776.0 974.3 867.3 821.2 657.8 521.2 260.5 224.2 188.4 215.5 174.5 214.4 270.6 218.4 196.4 182.4 175.0 122.4 117.8 48.0 109.3 95.6 91.5 91.5 58.1
Operating Expenses
R&D Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
SG&A Expenses 433.7 410.0 389.5 347.5 297.0 278.7 274.4 251.8 236.8 209.0 179.8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 6.2 4.7 4.7 12.7
Other Expenses 274.5 330.4 327.2 227.4 272.0 273.9 223.6 206.7 205.1 165.8 131.0 143.2 127.2 129.0 121.1 105.2 108.3 94.6 90.2 91.0 94.0 93.2 87.9 68.7 (1) 61.7 47.0 34 34.0 18.1
Operating Expenses 708.2 740.4 716.7 574.9 569.0 552.6 498.0 458.5 441.9 374.8 310.7 143.2 127.2 129.0 121.1 105.2 108.3 94.6 90.2 91.0 94.0 93.2 87.9 68.7 (1) 61.7 53.3 38.7 38.7 30.8
Operating Income
Operating Income 560.0 488.8 504.4 601.7 261.0 223.4 476.3 408.8 379.3 283.0 210.5 117.3 97.0 59.3 94.5 69.3 106.1 176.0 128.2 105.3 88.3 81.8 34.5 49.1 49.0 47.5 42.4 52.8 52.8 27.3
Interest Expense 171.6 164.6 155.4 148.2 151.4 106.7 79.5 63.2 54.1 42.4 51.2 64.0 39.0 33.6 33.6 17.5 27.5 30.7 0 0 0 0 0 0 0 0 25.1 (16) 20.3 0
Interest Income 0 0 0 0 0.6 0 0 0 0 0 0 0 0 0.5 0.7 0.4 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Profitability
EBITDA 870.5 783.4 795.0 857.7 529.2 472.7 696.6 607.8 591.7 446.5 349.7 248.7 230.9 188.3 207.1 181.9 216.0 290.5 217.9 196.5 178.3 168.2 116.7 118.9 114.5 109.3 95.6 85.6 88.0 45.4
EBIT 574.0 504.4 525.9 605.3 276.6 223.2 478.5 403.3 402.5 285.0 200.6 108.1 98.2 60.7 89.2 71.3 108.7 196.7 130.3 110.4 88.3 81.8 34.5 49.1 49.0 47.5 42.4 38 54.0 27.3
Income Before Tax 402.4 339.8 370.4 457.2 125.2 116.4 399.0 340.1 348.4 242.6 149.3 44.1 59.2 27.1 55.5 53.8 81.2 166.0 100.7 75.0 37.6 (8.5) (14.0) 16.7 24.8 19.2 20.8 33.7 33.7 8.9
Income Tax Expense 104.4 92.8 87.6 88.8 0.7 7.4 75.5 (61.1) 116.7 93.2 34.7 15.9 21.6 10.7 21.1 18.0 30.6 63.1 39.3 29.3 14.5 (2.6) (5.5) 6.8 11.2 8.8 8.0 14 14.0 4.2
Net Income 280.0 231.1 265.8 347.9 127.8 98.8 301.2 379.9 210.6 149.8 114.8 28.5 37.7 16.5 34.5 30.4 49.0 102.9 61.4 45.8 23.1 (6.0) (8.5) 7.0 13.6 10.4 12.8 19.7 19.7 4.7
Per Share Data
EPS (Basic) 7.54 6.08 6.70 8.60 3.17 2.45 7.46 9.40 5.36 4.13 3.16 0.79 1.05 0.46 0.96 0.84 1.34 2.67 1.58 1.21 0.65 -0.17 -0.24 0.20 0.39 0.30 0.37 0.66 0.22 0.22
EPS (Diluted) 7.53 6.07 6.69 8.55 3.13 2.42 7.32 9.13 5.22 4.01 3.07 0.77 1.03 0.45 0.94 0.83 1.33 2.64 1.56 1.19 0.64 -0.17 -0.24 0.20 0.33 0.29 0.25 0.64 0.22 0.22
Shares Outstanding 37.2 37.9 39.7 40.5 40.3 40.3 40.3 40.4 39.3 36.3 36.3 35.9 35.9 36.0 36.0 36.2 36.5 38.6 38.9 37.8 35.6 35.1 35.2 35.2 35.0 34.4 34.6 30.1 21.5 21.1
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2009 2008 2004 2003 2002 2001 2000 1999 1998 1997 1996
Current Assets
Cash & Cash Equivalents 440.3 322.8 563.0 1,107.4 1,244.0 391.0 108.8 178.1 117.4 67.9 69.3 162.3 46.3 7.9 13.1 8.7 8.8 18.3 13.4 14.7 12.7
Short-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Net Receivables 382.4 375.8 381.1 383.4 345.4 106.7 270.9 230.8 186.9 147.1 58.1 50.2 37.0 49.7 31.8 26.7 39.4 29.7 26.5 22.1 5.7
Inventory 117.2 119.0 132.5 108.7 80.3 101.9 96.5 85.6 84.8 74.6 48.9 49.7 31.2 31.8 32.3 26.9 24.1 22.8 8.9 10.8 4.6
Other Current Assets 51.9 42.3 88.3 192.0 75.9 65.6 51.7 44.2 44.0 33.3 52.7 96.7 41.3 39.5 32.1 40.6 28.0 21.9 23.0 28.8 22.8
Total Current Assets 1,049.8 911.4 1,208.1 1,791.5 1,745.6 665.1 527.9 538.7 433.1 322.9 229.0 358.9 155.7 117.0 109.4 102.9 100.4 92.7 71.7 76.4 45.8
Non-Current Assets
Property, Plant & Equipment 2,617.1 2,679.3 2,563.8 2,310.1 2,272.6 2,418.4 1,842.5 1,627.2 1,714.2 1,363.8 1,057.7 1,056.8 968.8 932.3 913.8 691.1 655.2 611.1 501.4 411.1 192.7
Goodwill 1,675.2 1,678.0 1,720.3 1,754.9 1,781.0 1,709.0 1,608.2 1,475.7 1,519.7 509.0 167.9 142.3 145.1 0 0 0 0 0 0 0 0
Intangible Assets 298.5 302.5 309.3 314.1 319.1 314.8 306.2 280.6 294.9 140.0 79.4 72.5 85.2 233.5 217.6 195.0 194.9 201.5 26.5 200.3 85.1
Long-Term Investments 87.9 86.5 90.2 96.0 (252.8) (234.2) (168.8) 107.1 111.0 118.6 311.5 (15.1) (12.1) (10.1) (10.4) (9.2) 0 0 0 0 0
Other Non-Current Assets 49.4 (239.1) (220.2) (217.1) 132.7 136.9 141.3 (98.2) (133.6) (102.3) 17.7 295.4 179.2 172.7 206.9 199.1 177.4 183.9 152.9 168.1 99
Total Non-Current Assets 4,728.1 4,787.1 4,739.6 4,526.5 4,505.5 4,579.1 3,898.1 3,526.2 3,677.6 2,159.2 1,655.5 1,567.1 1,378.2 1,338.4 1,338.3 1,085.2 1,027.5 996.5 840.4 779.5 376.8
Total Assets 5,777.9 5,698.4 5,947.8 6,318.0 6,251.1 5,244.2 4,426.1 4,065.0 4,110.7 2,482.0 1,884.5 1,926.0 1,534.0 1,455.4 1,447.7 1,188.1 1,127.8 1,089.2 912.1 855.9 422.6
Current Liabilities
Account Payables 140.0 141.2 148.5 151.3 98.3 59.7 96.4 80.8 71.6 72.7 245.5 294.2 62.9 152.0 141.7 129.2 111.1 89.4 55.0 70.2 48.1
Short-Term Debt 599.5 59.3 69.2 63.7 114.1 63.7 48.5 38.5 38.4 13.4 0.4 15.4 3.2 27.9 4.8 1.7 2.0 2.1 1.7 1.7 0.1
Deferred Revenue 602.1 575.8 572.6 511.3 456.5 256.4 335.7 282.1 240.1 182.5 0 0 (198.9) (152.0) 0 (122.4) 0 0 0 0 0
Other Current Liabilities 64.9 (8.9) 120.6 136.3 124.4 77.1 87.7 67.6 78.6 70.1 (38.7) (45.2) 136.0 0 6.5 0 (3.0) 1.7 0 6 50.8
Total Current Liabilities 1,667.6 1,106.5 1,130.7 1,110.9 978.4 603.5 719.1 593.6 604.6 506.5 251.3 367.0 202.0 180.0 152.9 130.9 110.2 93.1 59.0 77.9 99
Non-Current Liabilities
Long-Term Debt 2,211.3 2,731.5 2,750.7 2,670.3 2,749.1 2,387.1 1,215.7 1,234.3 905.2 686.9 491.6 541.4 622.6 556.2 598.0 386.6 392.2 396.1 282.3 263.3 144.7
Deferred Tax Liabilities 252.0 327.8 276.1 268.5 320.7 234.2 168.8 133.9 171.4 130.0 112.2 75.3 79.7 78.8 73.4 91.6 92.6 84.7 79.3 85.7 39.5
Other Non-Current Liabilities 294.5 260.8 286.3 246.4 183.2 165.1 173.9 177.2 183.3 148.4 233.2 183.6 101.3 115.0 90.6 61.2 31.7 31.1 28.9 23.3 15.5
Total Non-Current Liabilities 3,356.4 3,546.6 3,481.4 3,359.7 3,443.6 3,109.1 1,980.1 1,659.7 1,707.2 1,087.1 837.0 800.3 803.7 750.1 762.0 539.4 516.5 512.0 390.5 372.3 199.7
Total Liabilities 5,024.0 4,660.0 4,612.1 4,470.5 4,422.0 3,712.6 2,699.2 2,253.3 2,311.8 1,593.6 1,088.4 1,167.3 1,005.7 930.0 915.0 670.3 626.7 605.1 449.5 450.2 298.7
Stockholders' Equity
Common Stock 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.3 0.3 0.3 0 0
Retained Earnings 718.7 780.4 873.7 895.9 773.8 645.9 759.8 726.7 551.0 486.7 357.0 308.0 74.8 80.8 92.6 85.0 88.8 73.5 60.7 19.7 0
Accumulated Other Comprehensive Income (57.9) (67.3) (10.4) 10.9 27.8 (56.8) (31.7) (2.2) 44.4 (1.6) 0 0 (0.7) (0.2) (1.3) (0.5) 0 0 0 0 0
Total Stockholders' Equity 424.5 723.5 1,003.9 1,612.4 1,594.6 1,316.7 1,500.6 1,589.4 1,571.2 874.5 765.3 728.8 491.2 496.2 507.3 496.7 493.8 476.8 462.6 405.7 123.9
Total Liabilities & Equity 5,777.9 5,698.4 5,947.8 6,318.0 6,251.1 5,244.2 4,426.1 4,065.0 4,110.7 2,482.0 1,884.5 1,926.0 1,534.0 1,455.4 1,447.7 1,188.1 1,127.8 1,089.2 912.1 855.9 422.6
Debt Metrics
Total Debt 3,444.2 3,044.8 3,025.1 2,942.8 3,075.5 2,706.6 1,595.3 1,294.6 1,297.1 727.6 492.0 556.7 625.8 584.2 602.8 388.4 394.2 398.2 284.0 265 144.8
Net Debt 3,004.0 2,722.0 2,462.1 1,835.4 1,831.6 2,315.6 1,486.4 1,116.4 1,179.7 659.7 422.7 394.4 579.5 576.3 589.7 379.7 385.4 379.9 270.6 250.3 132.1
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996
Operating Activities
Net Income 298.0 246.3 285.1 368.3 124.5 109.1 323.5 401.2 231.7 149.5 23.1 (6.0) (8.5) 7.6 13.6 15.3 12.8 19.7 4.7 4.7
Depreciation & Amortization 296.4 276.5 268.5 252.4 252.6 249.6 218.1 204.5 189.2 161.5 90.0 87.5 85.0 68.4 65.5 61.4 53.3 34 18.1 18.1
Stock-Based Compensation 34.0 26.8 25.4 24.9 24.4 21.0 19.9 19.0 18.3 17.0 0 0.2 1.3 1.4 0.4 0 0.4 0 0 0
Change in Working Capital (26.0) (24.7) (17.7) 94.5 127.4 (23.3) 50.8 (29.6) (16.7) 78.9 55.2 51.6 17.3 24.3 17.9 1.3 5.7 (10.6) (53.2) 4.7
Other Non-Cash Items (26.6) 49.8 54.2 (20.2) 12.5 21.2 (0.5) 2.2 (2.0) 12.2 (3.0) 53.0 55.2 32.7 4.6 25.7 22.5 0.1 94.3 33.8
Operating Cash Flow 554.9 586.8 639.6 710.5 525.2 394.9 634.2 551.6 456.9 426.8 220.3 185.4 154.6 131.7 107.7 111.6 102.6 103.4 66.4 66.4
Investing Activities
Capital Expenditure (235.2) (211.2) (314.9) (192.8) (115.1) (172.3) (192.0) (140.6) (144.4) (109.2) (80.0) (63.0) (106.3) (76.2) (57.8) (77.7) (65.2) (107.9) (13.9) (54.5)
Acquisitions 0 (94.4) 75.9 (230.8) 0 (327.6) (419.0) (1.4) (553.2) (20.2) 0 0 0 (164.8) (19.5) 0 (101.3) 0 0 0
Purchases of Investments 0 0 (86.8) 0 0 0 0 0 0 0 0 0 0 0 0 0 (38.0) 0 0 (0.2)
Sales/Maturities of Investments 0 57.6 38.0 0 0 0 0 0.5 8.0 7.4 0 0 0 0 0 0 0 2.5 0 0
Other Investing Activities 30.7 6.8 14.6 75.7 11.8 7.2 15.0 7.4 14.8 5.5 35.1 (20.4) (24.4) (63.9) (30.1) (38.3) 0 (146.4) (40.8) 0
Investing Cash Flow (204.5) (241.1) (273.2) (347.9) (103.3) (492.7) (596.0) (134.6) (682.8) (124.0) (44.9) (83.4) (130.7) (304.9) (107.4) (116.0) (204.4) (251.8) (54.7) (54.7)
Financing Activities
Net Debt Issuance 402.8 (55.9) (73.9) (146.6) 494.6 686.4 289.5 (2.9) 419.3 (119.6) (103.6) (32.0) (24.8) 186.5 (5.9) (5.1) 114.2 0 95.0 (46.5)
Stock Repurchased (270) (150) (500) (75.0) 0 (46.4) (85) (25.8) (0.2) (53.8) 0 0 0 0 0 0 0 8 0 0
Dividends Paid (328.2) (323.7) (314.4) (225.8) 0 (212.7) (260.6) (204.2) (146.2) (103.8) 0 0 (0.9) 0 0 0 0 0 0 0
Other Financing Activities (39.2) (45.2) (27.5) (8.4) (20.9) (51.0) (43.4) (117.8) (0.9) 6.0 (3.6) (32.1) (3.9) (9.0) 0.2 (0.6) (8.1) 151 (42.2) 0
Financing Cash Flow (242.6) (574.8) (915.7) (493.1) 434.7 376.2 (99.6) (350.7) 271.9 (271.2) (85.2) (63.5) (29.1) 177.6 (0.5) (5.1) 106.8 151 (46.5) (46.5)
Cash Position
Net Change in Cash 119.4 (236.0) (553.0) (132.5) 856.5 283.7 (66.7) 60.8 49.5 32.4 90.3 38.5 (5.2) 4.4 (0.1) (9.5) 4.9 1.2 (34.8) (34.8)
Cash at Beginning 337.1 573.1 1,126.1 1,258.6 402.1 118.4 185.0 117.4 67.9 35.5 46.3 7.9 13.1 8.7 8.8 18.3 13.4 12.1 47.5 47.5
Cash at End 456.4 337.1 573.1 1,126.1 1,258.6 402.1 118.4 178.1 117.4 67.9 136.6 46.3 7.9 13.1 8.7 8.8 18.3 13.3 12.7 12.7
Free Cash Flow 319.7 375.6 324.7 517.7 410.2 222.6 442.2 411.0 312.5 317.5 140.4 122.4 48.2 55.4 49.9 34.0 37.4 (4.5) 52.5 11.9
Key Metrics 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996
Income Statement
Revenue 2,964.3 2,885.2 2,889.4 2,525.9 1,909.7 1,963.7 2,271.6 2,011.6 1,907.2 1,601.3 1,399.9 1,254.6 1,120.8 1,024.4 1,167.0 894.8 977.0 1,152.2 940.5 838.9 810.0 726.6 713.0 615.3 543.8 539.1 475.7 330.5 330.5 188.8
Gross Profit 1,268.2 1,229.3 1,221.1 1,176.6 830.0 776.0 974.3 867.3 821.2 657.8 521.2 260.5 224.2 188.4 215.5 174.5 214.4 270.6 218.4 196.4 182.4 175.0 122.4 117.8 48.0 109.3 95.6 91.5 91.5 58.1
Operating Income 560.0 488.8 504.4 601.7 261.0 223.4 476.3 408.8 379.3 283.0 210.5 117.3 97.0 59.3 94.5 69.3 106.1 176.0 128.2 105.3 88.3 81.8 34.5 49.1 49.0 47.5 42.4 52.8 52.8 27.3
Net Income 280.0 231.1 265.8 347.9 127.8 98.8 301.2 379.9 210.6 149.8 114.8 28.5 37.7 16.5 34.5 30.4 49.0 102.9 61.4 45.8 23.1 (6.0) (8.5) 7.0 13.6 10.4 12.8 19.7 19.7 4.7
EPS (Diluted) 7.53 6.07 6.69 8.55 3.13 2.42 7.32 9.13 5.22 4.01 3.07 0.77 1.03 0.45 0.94 0.83 1.33 2.64 1.56 1.19 0.64 -0.17 -0.24 0.20 0.33 0.29 0.25 0.64 0.22 0.22
Balance Sheet
Cash & Equivalents 440.3 322.8 563.0 1,107.4 1,244.0 391.0 108.8 178.1 117.4 67.9 69.3 162.3 46.3 7.9 13.1 8.7 8.8 18.3 13.4 14.7 12.7
Total Assets 5,777.9 5,698.4 5,947.8 6,318.0 6,251.1 5,244.2 4,426.1 4,065.0 4,110.7 2,482.0 1,884.5 1,926.0 1,534.0 1,455.4 1,447.7 1,188.1 1,127.8 1,089.2 912.1 855.9 422.6
Total Debt 3,444.2 3,044.8 3,025.1 2,942.8 3,075.5 2,706.6 1,595.3 1,294.6 1,297.1 727.6 492.0 556.7 625.8 584.2 602.8 388.4 394.2 398.2 284.0 265 144.8
Stockholders' Equity 424.5 723.5 1,003.9 1,612.4 1,594.6 1,316.7 1,500.6 1,589.4 1,571.2 874.5 765.3 728.8 491.2 496.2 507.3 496.7 493.8 476.8 462.6 405.7 123.9
Cash Flow
Operating Cash Flow 554.9 586.8 639.6 710.5 525.2 394.9 634.2 551.6 456.9 426.8 220.3 185.4 154.6 131.7 107.7 111.6 102.6 103.4 66.4 66.4
Capital Expenditure (235.2) (211.2) (314.9) (192.8) (115.1) (172.3) (192.0) (140.6) (144.4) (109.2) (80.0) (63.0) (106.3) (76.2) (57.8) (77.7) (65.2) (107.9) (13.9) (54.5)
Free Cash Flow 319.7 375.6 324.7 517.7 410.2 222.6 442.2 411.0 312.5 317.5 140.4 122.4 48.2 55.4 49.9 34.0 37.4 (4.5) 52.5 11.9