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Earnings transcript
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MTN
Vail Resorts, Inc.
$131.26
-5.95
(-4.34%)
| Exchange: | NYSE |
| Market Cap: | 4.677B |
| Shares Outstanding: | 10.682M |
Delayed data
About The Company
| Sector: | Consumer Cyclical | |||||
| Industry: | Gambling, Resorts & Casinos | |||||
| CEO: | Robert A. Katz | |||||
| Full Time Employees: | 7600 | |||||
| Address: |
| |||||
| Website: | https://www.vailresorts.com |
Vail Resorts, Inc., operating through its various subsidiary entities, oversees a portfolio of mountain resorts and urban ski areas located across the United States. The company’s business activities are structured into three distinct segments: Mountain, Lodging, and Real Estate. The Mountain division is responsible for managing 37 prominent mountain destinations and regional ski facilities. This segment also handles a range of complementary services, including ski instruction, dining establishments, retail and equipment rental operations, and real estate brokerage. The Lodging segment encompasses the ownership and/or management of numerous luxury hotels, condominiums, and other accommodation options, particularly those under the RockResorts brand. Additionally, it oversees condominiums situated near Vail’s mountain resorts, operates various destination resorts and golf courses, and furnishes ground transportation services within its resort areas. The Real Estate segment concentrates on the acquisition, development, and sale of property assets. Formed in 1997, Vail Resorts, Inc. maintains its corporate headquarters in Broomfield, Colorado.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 2,889,364 | 2,885,191 | 2,964,347 |
| Gross Profit | 1,221,127 | 1,229,254 | 1,268,153 |
| EBITDA | 795,040 | 783,427 | 870,462 |
| Operating Income | 504,420 | 488,849 | 559,960 |
| Net Income | 265,825 | 231,105 | 280,004 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 5,947,754 | 5,698,437 | 5,777,885 |
| Total Liabilities | 4,612,094 | 4,659,954 | 5,023,981 |
| Total Stockholders Equity | 1,003,947 | 723,537 | 424,499 |
| Total Debt | 3,025,065 | 3,044,826 | 814,594 |
| Cash and Cash Equivalents | 562,975 | 322,827 | 440,290 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 639,563 | 586,774 | 554,870 |
| Capital Expenditure | -314,912 | -211,197 | -235,191 |
| Free Cash Flow | 324,651 | 375,577 | 319,679 |
| Net Income | 285,103 | 246,279 | 280,004 |
| Net Change in Cash | -553,014 | -236,030 | 119,356 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2028 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 3,078,433.416 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 3,114,745.192 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 3,096,589.304 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 897,059.031 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 907,640.324 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 902,349.678 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 190,787.697 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 304,841.027 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 265,683.360 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 441,019.903 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 446,221.970 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 443,620.936 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 7.370 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 8.190 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 5.130 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 7 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 6 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Robust Financial Performance: Vail Resorts reported an 8% increase in resort-reported EBITDA for Q2 2025, as highlighted in the earnings call transcript, reflecting strong operational efficiency and revenue growth in core business segments. This performance underscores the company's ability to generate consistent returns.
- Strong Balance Sheet: Data from the balance sheet indicates a focus on maintaining financial stability, with significant cash and cash equivalents alongside manageable total liabilities. This positions MTN favorably for strategic investments and shareholder returns through dividends and share repurchases.
- Positive Revenue Trends: Income statement data shows consistent revenue growth, supported by strong gross profit margins. This aligns with industry trends in the leisure and hospitality sector, as indicated by sector performance metrics, reinforcing MTN's competitive standing.
- Commitment to Shareholder Value: The earnings call transcript emphasizes ongoing capital returns via dividends and share repurchases, supported by a healthy dividend yield (TTM) from key metrics, enhancing investor confidence.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates MTN intrinsic value between $145.59 – $204.00 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
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Common questions about MTN valuation
Is Vail Resorts, Inc. (MTN) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Vail Resorts, Inc. (MTN) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is MTN a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether MTN trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is MTN’s P/E ratio?
You can see MTN’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for MTN?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is MTN a good long-term investment?
Whether MTN fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
MTN
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Daily snapshot
-4.34
Trading Metrics:
| Open: | 131.32 | Previous Close: | 137.21 | |
| Day Low: | 125.71 | Day High: | 134.93 | |
| Year Low: | 118.51 | Year High: | 172 | |
| Price Avg 50: | 127.87 | Price Avg 200: | 140.16 | |
| Volume: | 2.372M | Average Volume: | 842850 |
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Login — it's freeMTN full analysis
Welcome to MARKETSNAP’s SWOT analysis for Vail Resorts, the powerhouse behind some of the most iconic ski and mountain destinations in the world. If you’re a long-term investor looking to carve out some solid returns in the leisure and hospitality space, you’re in the right place. Today, we’re diving deep into Vail Resorts—known by its ticker MTN—breaking down its strengths, weaknesses, opportunities, and threats to help you decide if this stock deserves a spot in your portfolio. Let’s hit the…
