Vail Resorts (MTN) AI Stock Analysis

• Market Cap: $5.02B
• Dividend Yield: 6.27%
• Average Volume (3M): 923.59K
• Price to Earnings (P/E): 20.6
• Beta (1Y): 0.64
• Revenue Growth: 3.06%
• EPS Growth: 12.82%
• Country: US
• Employees: 7,600
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Gambling, Resorts & Casinos
• EPS (TTM): -5.20
• Shares Outstanding: 35,775,574
• 10 Day Avg. Volume: 937,988
• 30 Day Avg. Volume: 923,585
• PEG Ratio: 0.83
• Price to Book (P/B): 13.15
• Price to Sales (P/S): 1.88
• P/FCF Ratio: 17.46
• Enterprise Value/Market Cap: 1.11
• Enterprise Value/Revenue: 1.86
• Enterprise Value/Gross Profit: 3.06
• Enterprise Value/Ebitda: 8.99
• 1Y Price Target: $162.56
• Price Target Upside: 15.91% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 10
• EPS Forecast (FY): 7.05
• Revenue Forecast (FY): $3.01B

• Rating: 72 Outperform
• Price Target: $172.00 ▲(22.64% Upside)

Vail Resorts shows strong financial performance with robust revenue growth and profitability. The technical indicators suggest a bullish trend, supported by reasonable valuation metrics. The earnings call highlighted strategic initiatives for sustainable growth, despite some challenges. Overall, the stock is well-positioned for future growth, but attention to financial stability and market conditions is essential.

Positive Factors

Revenue Growth

Strong revenue growth indicates robust demand and effective business strategies, enhancing the company's market position and long-term prospects.

Strategic Leadership

New leadership with extensive experience is expected to drive growth and enhance guest experience, supporting strategic initiatives and market expansion.

Cash Flow Generation

Positive cash flow growth improves financial flexibility, enabling the company to invest in growth opportunities and manage debt effectively.

Negative Factors

High Leverage

High leverage poses financial risks, potentially impacting the company's ability to invest in growth and manage economic downturns.

Flat EBITDA

Flat EBITDA suggests challenges in maintaining profitability amidst rising costs, which could pressure margins and affect long-term financial health.

Decline in Pass Units

Decline in pass units may indicate challenges in customer retention and competition, potentially impacting future revenue stability.

Vail Resorts Business Overview & Revenue Model

Company Description

Vail Resorts, Inc., through its subsidiaries, operates mountain resorts and urban ski areas in the United States. It operates through three segments: Mountain, Lodging, and Real Estate. The Mountain segment operates 37 destination mountain resorts and regional ski areas. This segment is also involved in the ancillary activities, including ski school, dining, and retail/rental operations, as well as real estate brokerage activities. The Lodging segment owns and/or manages various luxury hotels and condominiums, and other lodging properties under the RockResorts brand; various condominiums located in proximity to the company's mountain resorts; destination resorts; and golf courses, as well as offers resort ground transportation services. This segment operates owned and managed hotel and condominium units. The Real Estate segment owns, develops, and sells real estate properties. The company was incorporated in 1997 and is based in Broomfield, Colorado.

How the Company Makes Money

Vail Resorts generates revenue through several key streams. The primary source of income is from lift ticket sales, which provide access to the ski slopes and are a significant driver of earnings during the winter season. The company also earns revenue from ski school lessons, equipment rentals, and retail sales within its resorts. Additionally, Vail Resorts operates lodging facilities, generating income from accommodations, dining, and event services. The company has embraced a season pass strategy, offering multi-resort passes that encourage repeat visits and provide a stable revenue base. Furthermore, Vail Resorts benefits from strategic partnerships with travel and tourism companies, as well as sponsorships that enhance its brand visibility and market reach.

Vail Resorts Financial Statement Overview

Summary

Vail Resorts demonstrates strong revenue growth and profitability, supported by efficient operations. However, high leverage poses potential risks, and there is a need for improved cash flow management. Overall, the company is performing well, but attention to financial stability and cash flow efficiency is crucial for sustained success.

Income Statement

Vail Resorts shows strong revenue growth with a TTM growth rate of 36.2%, indicating robust demand. The gross profit margin of 51.7% and net profit margin of 9.4% reflect solid profitability, although slightly lower than the previous annual report. EBIT and EBITDA margins are stable, suggesting efficient operations. However, the decline in gross profit margin from the previous year indicates potential cost pressures.

Balance Sheet

The company's debt-to-equity ratio is high at 8.11, indicating significant leverage, which could pose financial risks. Return on equity is strong at 48.8%, showcasing effective use of equity to generate profits. However, the equity ratio is low, suggesting a heavy reliance on debt financing, which may impact financial stability.

Cash Flow

Free cash flow growth is positive at 10.28% TTM, showing improved cash generation. The operating cash flow to net income ratio is 0.33, indicating moderate cash conversion efficiency. The free cash flow to net income ratio of 0.58 suggests a reasonable level of cash flow relative to earnings, but there is room for improvement in cash flow management.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.96B	2.89B	2.89B	2.53B	1.91B
Gross Profit	2.78B	1.23B	1.22B	1.18B	830.04M
EBITDA	870.46M	783.43M	831.66M	831.93M	533.05M
Net Income	280.00M	230.41M	268.15M	347.92M	127.85M
Balance Sheet
Total Assets	5.78B	5.70B	5.95B	6.32B	6.25B
Cash, Cash Equivalents and Short-Term Investments	440.29M	322.83M	562.98M	1.11B	1.24B
Total Debt	3.44B	3.04B	3.03B	2.94B	3.08B
Total Liabilities	5.02B	4.66B	4.61B	4.47B	4.42B
Stockholders Equity	424.50M	723.54M	1.00B	1.61B	1.59B
Cash Flow
Free Cash Flow	319.68M	375.58M	324.65M	517.68M	410.15M
Operating Cash Flow	554.87M	586.77M	639.56M	710.50M	525.25M
Investing Cash Flow	-204.50M	-241.07M	-273.17M	-347.92M	-103.33M
Financing Cash Flow	-242.65M	-574.79M	-915.71M	-493.14M	434.66M

Vail Resorts Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 140.25
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MTN, the sentiment is Negative. The current price of 140.25 is below the 20-day moving average (MA) of 147.22, below the 50-day MA of 146.67, and below the 200-day MA of 148.86, indicating a bearish trend. The MACD of 0.07 indicates Positive momentum. The RSI at 41.03 is Neutral, neither overbought nor oversold. The STOCH value of 4.82 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MTN.

Vail Resorts Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CHDN	73 Outperform	$7.98B	20.87	37.56%	0.38%	7.97%	-0.14%
MTN	72 Outperform	$5.02B	20.57	88.61%	6.27%	3.06%	12.82%
BYD	71 Outperform	$6.77B	3.79	87.17%	0.84%	5.91%	336.91%
MGM	63 Neutral	$10.31B	236.53	2.25%	―	0.05%	-94.07%
WYNN	62 Neutral	$12.93B	27.43	―	0.80%	-0.26%	-44.45%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
MLCO	56 Neutral	$3.13B	30.48	―	―	11.32%	―

Vail Resorts Corporate Events

Vail Resorts Holds Annual Meeting, Elects Directors

On December 9, 2025, Vail Resorts held its Annual Meeting where stockholders elected nine director nominees, ratified PricewaterhouseCoopers LLP as the independent auditor for the fiscal year ending July 31, 2026, and approved executive compensation on an advisory basis. These decisions reflect the company’s commitment to maintaining strong governance and financial oversight, potentially impacting its operational stability and stakeholder confidence.

Vail Resorts Appoints New Chief Revenue Officer

On November 21, 2025, Vail Resorts announced the appointment of Celeste Burgoyne as Executive Vice President and Chief Revenue Officer, effective January 26, 2026. Burgoyne, who previously held a leadership role at lululemon, is expected to drive growth and enhance the guest experience at Vail Resorts. Her extensive experience in customer engagement and brand expansion is anticipated to play a crucial role in the company’s strategic initiatives to boost revenue and strengthen its market position.

Vail Resorts Announces Departure of Long-Serving Directors

On September 29, 2025, Vail Resorts announced that long-serving Board members John Sorte and John Redmond will not seek re-election at the 2025 Annual Meeting of Stockholders. Their departure marks the end of significant tenures during which they contributed to Vail Resorts’ growth into the world’s largest mountain resort company. The Board will continue with nine directors, eight of whom are independent, as part of its strategy to maintain a diverse mix of skills and expertise.