Vail Resorts MTN

Entertainment, Communication Services

$146.57

−1.12%

Market cap: $5.2B
PE: 35.4×; 10y median 32.2×
Forward PE: n/m; not a meaningful number
Price to sales: 1.8×
EV/EBIT: 20.1×
Revenue, 12 months: $2.8B; −4% on a year ago
Net margin: 5.2%
Free cash flow yield: 4.7%

Vail Resorts trades at 35.4× trailing earnings, near its ten-year median. Revenue was $2.8B over the last twelve months, down 4% on a year earlier with a 5% net margin.

Charts

Financials

Income statement for MTN, by quarter
Income statement	Q1 FY24	Q2 FY24	Q3 FY24	Q4 FY24	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26	Q3 FY26	Q4 FY26
	$258.6M−8%	$1.1B−2%	$1.3B+4%	$265.4M−2%	$260.3M+1%	$1.1B+6%	$1.3B+1%	$271.3M+2%	$271M+4%	$1.1B−5%	$1.2B−7%	$278.1M+3%
	−$207.1M+27%	$350.6M+7%	$546.6M+9%	−$201.3M+26%	−$201.9M−3%	$383.2M+9%	$577.8M+6%	−$199.1M−1%	−$209.8M+4%	$345M−10%	$494.1M−15%	−$208.8M+5%
Interest expense	$40.7M+15%	$40.6M+6%	$39.9M+2%	$40.7M+1%	$42.8M+5%	$42.7M+5%	$41.9M+5%	$44.3M+9%	$51.3M+20%	$49.5M+16%	$51.3M+23%	$53.5M+21%
Pre-tax income	−$248.2M+23%	$317.3M+6%	$510.7M+9%	−$240M+25%	−$240.3M−3%	$342.9M+8%	$541.4M+6%	−$241.5M+1%	−$257.1M+7%	$298.1M−13%	$445.9M−18%	−$260M+8%
	−$65.2M+12%	$87.5M+11%	$129.3M+4%	−$52.8M−7%	−$58.4M−10%	$86M−2%	$130.1M+1%	−$53.2M+1%	−$60.6M+4%	$72.3M−16%	$105.6M−19%	−$61.1M+15%
Net income	−$175.5M+28%	$219.3M+5%	$362M+11%	−$174.7M+36%	−$173.3M−1%	$244.4M+11%	$389.7M+8%	−$180.9M+4%	−$186.8M+8%	$210M−14%	$314.4M−19%	−$190.2M+5%
	−$4.60+35%	$5.76+12%	$9.54+17%	−$4.65+39%	−$4.62+0%	$6.53+13%	$10.46+10%	−$4.95+7%	−$5.20+13%	$5.87−10%	$8.81−16%	−$5.34+8%
	38.1M−5%	38M−6%	37.9M−5%	37.6M−3%	37.5M−2%	37.4M−2%	37.3M−2%	36.5M−3%	35.9M−4%	35.8M−4%	35.7M−4%	35.6M−2%

EPS, diluted: Q4 FY10: quarter's net income to common over its shares, to the cent, the shares from counts implied by EPS, near the year's EPS less the nine months'. 5 periods, Q4 FY22 to Q4 FY26: quarter's net income to common over its shares, to the cent.

Diluted shares: 3 periods, Q1 FY10 to Q3 FY10: not printed by the filing, worked out from its own lines. 15 periods, Q4 FY11 to Q4 FY26: a loss quarter: its basic count, share-days: the 12-month average less the 9-month, weighted by days. Q4 FY23: share-days: the 12-month average less the 9-month, weighted by days.

From each company's 10-Q and 10-K filings, the newest version of each figure. Quarters are as filed (a fourth quarter is the year less its first nine months), fiscal years as the 10-K prints them, restated where a later 10-K restated them, and balance sheet lines as of the period's end. A quarter whose 10-Q isn't filed yet is from the company's results release. Growth is on the same period a year earlier. A dash is a period with no figure for the line: the filing doesn't print it, or it hasn't been read yet.

Peers

Companies in Entertainment nearest Vail Resorts' size, closest first.

Company	Market cap	PE	Its 10y median PE	Fwd PE	P/S	Revenue growth	Net margin
MTNVail Resorts	$5.2B	35.4×	32.2×	n/m	1.8×	−4%	5.2%
NXSTNexstar Media	$5.2B	32.2×	10.8×	n/m	0.9×	+11%	3.2%
CHDNChurchill Downs	$5.8B	14.4×	22.6×	n/m	2.0×	+6%	13.8%
CNKCinemark	$4.6B	21.9×	17.1×	n/m	1.4×	+5%	6.4%
RSIRush Street Interactive	$3.7B	61.2×	95.1×	n/m	2.7×	+34%	2.3%
MSGEMadison Square Garden Entertainment	$3.7B	56.4×	33.0×	n/m	3.5×	+13%	6.2%
ADEAAdeia	$2.3B	19.6×	21.0×	n/m	5.0×	+24%	26.1%
WMGWarner Music	$16.1B	17.2×	22.8×	n/m	2.2×	+13%	9.2%
PRSUPursuit Attractions & Hospitality	$1.5B	41.3×	36.3×	n/m	3.1×	+26%	7.9%
PRKSUnited Parks & Resorts	$1.4B	11.9×	14.2×	n/m	0.8×	−4%	8.1%
FWONKLiberty Media	$22.4B	n/m	20.6×	42.0×	5.2×	+12%	9.4%
Peer median	$4.1B	21.9×	21.8×	42.0×	2.5×	+12%	8.0%