Vail Resorts Inc. | Mid-cap | Consumer Cyclical
$148.77
-0.90%
| Vail Resorts Stock Comparison:
Vail Resorts vs Las Vegas SandsVail Resorts vs Wynn ResortsVail Resorts vs MGM ResortsVail Resorts vs Boyd GamingVail Resorts vs Red Rock ResortsVail Resorts vs S&P 500 | Market
TL;DR Income Statement Balance Sheet Cash Flow Key Ratios Peer Comparison

TL;DR: Financial Overview - Revenue, Profits & Key Metrics

Latest Quarterly: Jul 2025

Income Metrics

Revenue 271.3M
Gross Profit -18.8M -6.94%
Operating Income -202.2M -74.53%
Net Income -192.9M -71.11%
EPS (Diluted) $-5.08

Balance Sheet Metrics

Total Assets 5.8B
Total Liabilities 5.0B
Shareholders Equity 753.9M
Debt to Equity 6.66

Cash Flow Metrics

Operating Cash Flow -239.2M
Free Cash Flow -227.5M

Revenue & Profitability Trend

Vail Resorts Income Statement From 2021 to 2025

Metric 2025 2024 2023 2022 2021
Revenue i 3.0B 2.9B 2.9B 2.5B 1.9B
Cost of Goods Sold i 1.7B 1.7B 1.7B 1.3B 1.1B
Gross Profit i 1.3B 1.2B 1.2B 1.2B 830.0M
Gross Margin % i 42.8% 42.6% 42.3% 46.6% 43.5%
Operating Expenses
Research & Development i - - - - -
Selling, General & Administrative i 433.7M 410.0M 389.5M 347.5M 297.0M
Other Operating Expenses i - - - - -
Total Operating Expenses i 433.7M 410.0M 389.5M 347.5M 297.0M
Operating Income i 538.0M 542.7M 563.2M 576.7M 280.5M
Operating Margin % i 18.1% 18.8% 19.5% 22.8% 14.7%
Non-Operating Items
Interest Income i - - - - -
Interest Expense i 171.6M 161.8M 153.0M 148.2M 151.4M
Other Non-Operating Income 36.0M -35.8M -36.6M 28.6M -3.9M
Pre-tax Income i 402.4M 345.1M 373.5M 457.2M 125.2M
Income Tax i 104.4M 98.8M 88.4M 88.8M 726.0K
Effective Tax Rate % i 25.9% 28.6% 23.7% 19.4% 0.6%
Net Income i 298.0M 246.3M 285.1M 368.3M 124.5M
Net Margin % i 10.1% 8.5% 9.9% 14.6% 6.5%
Key Metrics
EBITDA i 838.4M 820.3M 832.3M 831.7M 539.8M
EPS (Basic) i $7.54 $6.08 $6.76 $8.60 $3.17
EPS (Diluted) i $7.53 $6.07 $6.74 $8.55 $3.13
Basic Shares Outstanding i 37155000 37868000 39654000 40465000 40301000
Diluted Shares Outstanding i 37155000 37868000 39654000 40465000 40301000

Income Statement Trend

Vail Resorts Balance Sheet From 2021 to 2025

Metric 2025 2024 2023 2022 2021
Assets
Current Assets
Cash & Equivalents i 440.3M 322.8M 563.0M 1.1B 1.2B
Short-term Investments i - - - - -
Accounts Receivable i 382.4M 375.8M 381.1M 383.4M 345.4M
Inventory i 117.2M 119.0M 132.5M 108.7M 80.3M
Other Current Assets 35.7M 28.0M 78.2M 173.3M 61.3M
Total Current Assets i 1.0B 911.4M 1.2B 1.8B 1.7B
Non-Current Assets
Property, Plant & Equipment i 242.5M 256.6M 192.3M 192.1M 204.7M
Goodwill i 3.6B 3.7B 3.8B 3.8B 3.9B
Intangible Assets i 298.5M 302.5M 309.3M 314.1M 319.1M
Long-term Investments - - - - -
Other Non-Current Assets 49.4M 40.8M 111.8M 102.8M 74.2M
Total Non-Current Assets i 4.7B 4.8B 4.7B 4.5B 4.5B
Total Assets i 5.8B 5.7B 5.9B 6.3B 6.3B
Liabilities
Current Liabilities
Accounts Payable i 140.0M 141.2M 148.5M 151.3M 98.3M
Short-term Debt i 634.4M 89.8M 106.1M 98.0M 148.8M
Current Portion of Long-term Debt - - - - -
Other Current Liabilities - -1.0K - - -
Total Current Liabilities i 1.7B 1.1B 1.1B 1.1B 978.4M
Non-Current Liabilities
Long-term Debt i 2.8B 3.0B 2.9B 2.8B 2.9B
Deferred Tax Liabilities i 252.0M 279.8M 276.1M 268.5M 252.8M
Other Non-Current Liabilities 294.5M 311.8M 286.3M 246.4M 264.0M
Total Non-Current Liabilities i 3.4B 3.5B 3.5B 3.4B 3.4B
Total Liabilities i 5.0B 4.7B 4.6B 4.5B 4.4B
Equity
Common Stock i 469.0K 469.0K 468.0K 467.0K 466.0K
Retained Earnings i 718.7M 780.4M 873.7M 895.9M 773.8M
Treasury Stock i 1.4B 1.1B 984.3M 479.4M 404.4M
Other Equity - - - - -
Total Shareholders Equity i 753.9M 1.0B 1.3B 1.8B 1.8B
Key Metrics
Total Debt i 3.4B 3.0B 3.0B 2.9B 3.1B
Working Capital i -617.8M -201.9M 77.4M 680.7M 767.2M

Balance Sheet Composition

Vail Resorts Cash Flow Statement From 2021 to 2025

Metric 2025 2024 2023 2022 2021
Operating Activities
Net Income i 298.0M 246.3M 285.1M 368.3M 124.5M
Depreciation & Amortization i 296.4M 276.5M 268.5M 252.4M 252.6M
Stock-Based Compensation i 34.0M 26.8M 25.4M 24.9M 24.4M
Working Capital Changes i 10.3M 18.1M 14.5M 13.2M 115.6M
Operating Cash Flow i 598.1M 619.9M 662.8M 673.2M 508.0M
Investing Activities
Capital Expenditures i 12.4M 337.0K 5.7M 66.3M 9.7M
Acquisitions i 0 -94.4M 75.9M -230.8M 0
Investment Purchases i 0 0 -86.8M 0 0
Investment Sales i 0 57.6M 38.0M 0 0
Investing Cash Flow i 30.7M -29.9M 41.7M -155.1M 11.8M
Financing Activities
Share Repurchases i -270.0M -150.0M -500.0M -75.0M 0
Dividends Paid i -328.2M -323.7M -314.4M -225.8M 0
Debt Issuance i 850.0M 600.0M 0 0 602.8M
Debt Repayment i -447.2M -655.9M -73.9M -146.6M -108.2M
Financing Cash Flow i -242.6M -574.8M -915.7M -493.1M 416.8M
Free Cash Flow i 319.7M 375.6M 324.7M 517.7M 410.2M
Net Change in Cash i 386.1M 15.3M -211.2M 24.9M 936.6M

Cash Flow Trend

Vail Resorts Key Financial Ratios

Valuation Ratios

P/E Ratio (TTM) 20.54
Forward P/E 18.43
Price to Book 13.07
Price to Sales 1.87
PEG Ratio 2.34

Profitability Ratios

Profit Margin 9.45%
Operating Margin -72.03%
Return on Equity 33.50%
Return on Assets 5.94%

Financial Health

Current Ratio 0.63
Debt to Equity 456.85
Beta 0.86

Per Share Data

EPS (TTM) $7.53
Book Value per Share $11.83
Revenue per Share $79.78

Peer Financial Comparison

Company Market Cap P/E Ratio P/B Ratio ROE Profit Margin Debt/Equity
mtn 5.7B 20.54 13.07 33.50% 9.45% 456.85
Las Vegas Sands 36.6B 26.40 18.04 54.15% 12.16% 693.25
Wynn Resorts 12.8B 36.36 -10.57 -51.73% 5.51% -10.07
MGM Resorts 9.0B 18.10 3.03 21.79% 3.14% 844.04
Boyd Gaming 6.7B 12.94 4.83 36.23% 14.02% 305.14
Red Rock Resorts 6.1B 19.65 16.61 129.06% 8.89% 1,149.62

Financial data is updated regularly. All figures are in the company's reporting currency.