ES
MARKETS / NYSE / MTN
NYSE · SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION · LARGE CAP

Vail Resorts, Inc. MTN

17 fiscal years on record · USD · FY2025 reported
SEC FILINGS ONLY3 YEARS OF DIVIDEND GROWTH
Revenue · FY2025
$3.0B
▲ 2.7% vs FY2024
Dividend streak
3 yrs
Raised every year since 2023
EPS · FY25
$7.53
Dividend / sh · FY25
$8.88
Payout · FY25
117%
ROE · FY25
49.4%
Net margin · FY25
9.4%
Dividend coverage
0.8×
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Result
USD 3.0B
Revenue, FY2025 · full 17-year series below
Revenue Net income
0.81.62.43.23.00.32009201220152018202120242025
0.81.62.43.23.00.32016201920222025

9 cents of every revenue dollar became profit this year.

Per share
USD 7.53
Diluted EPS, FY2025
EPS Dividend
48128.887.532009201220152018202120242025
48128.887.532016201920222025

Earnings covered only a fraction of the dividend — the rest came from cash or borrowing.

Profitability
49.4%
Return on equity, FY2025
ROE
20406049.4%2009201220152018202120242025
20406049.4%2016201920222025
Operating margin18.9%
Net margin9.4%
Return on assets4.9%

Each USD of equity produced 49 cents of profit this year.

Returned to shareholders
USD 598.2M
returned in FY2025 · dividends + net buybacks
Dividends paidUSD 328.2M
Net buybacksUSD 270.0M
Share of profit213.6%
Consecutive raises3 years

USD 328.2M in dividends and USD 270.0M in buybacks — 214% of the year's profit, so the payout drew on cash built up earlier.

Growth
+8.6% a year
revenue, compounded over five years
CAGR
3 yrs
5 yrs
10 yrs
15 yrs
Revenue
+5.5%
+8.6%
+7.8%
+8.3%
Net income
−7.0%
+23.2%
+9.3%
+16.0%
EPS, diluted
−4.1%
+25.5%
+9.4%
+15.8%
Dividend / share
+16.8%
+11.0%
+15.6%
Returned to shareholders
+25.8%
+18.2%
+23.0%
+27.9%

Compound annual rates per period — left blank where the series crosses a loss.

Share base
—
Shares outstanding, FY2025
Change, 5 years—
Change, 10 years—

A share split breaks the comparison across the period, so we leave it out.

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Balance sheet
USD 5.8B
total assets, end of FY2025
Total assetsUSD 5.8B
EquityUSD 424.5M
CashUSD 440.3M
Gross debtUSD 3.2B
Net debtUSD 2.8B
DepositsUSD 42.3M

Net debt stands at 649% of equity.

History
17 fiscal years
Every figure from documents filed with the SEC · USD
Metric
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
Revenue $B
3.0
2.9
2.9
2.5
1.9
2.0
2.3
2.0
1.9
1.6
1.4
1.3
1.1
1.0
1.2
0.9
1.0
Operating income $B
0.6
0.5
0.5
0.6
0.3
0.2
0.5
0.4
0.4
0.3
0.2
0.1
0.1
0.1
0.1
0.1
0.1
EBITDA $B
0.9
0.8
0.8
0.8
0.5
0.5
0.7
0.6
0.6
0.4
0.4
0.3
0.2
0.2
0.2
0.2
0.2
Income tax $B
0.1
0.1
0.1
0.1
0.0
0.0
0.1
−0.1
0.1
0.1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Net income $B
0.3
0.2
0.3
0.3
0.1
0.1
0.3
0.4
0.2
0.1
0.1
0.0
0.0
0.0
0.0
0.0
0.0
EPS, diluted $
7.53
6.09
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
Dividend / sh $
8.88
8.56
7.94
5.58
0.00
5.28
6.46
5.05
3.73
2.87
2.08
1.25
0.79
0.68
0.15
0.00
·
Payout %
117
140
118
65
0
215
87
54
69
69
66
158
75
147
16
0
·
ROE %
49.4
27.0
20.3
21.7
8.8
7.0
19.5
24.0
17.2
17.2
13.6
3.5
4.6
2.0
4.3
3.9
·
Shares out B
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·

Slide the table for earlier years · "·" marks figures not disclosed in the filing for that year.

How we verifyAUDITED
49 of 49
checks passed before publication
EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidity

Every figure was compared against the original statement: 0 failures and 0 presentation gaps.

What we don’t show

We’d rather say what’s missing than fill the gap with an estimate.

P/E rationeeds a market quote — not yet licensed
Market capitalizationneeds a market quote — not yet licensed
Dividend yieldneeds a market quote — not yet licensed
Price-to-bookneeds a market quote — not yet licensed