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

Vail Resorts Inc. MTN

17 fiscal years on record · USD · FY2025 reported · SEC filings only
3 YEARS OF DIVIDEND GROWTH
$3.0B
▲ 2.7% YoY
$280.0M
▲ 21.2% YoY
$319.7M
▼ 15.4% YoY
In brief

What this company does

It offers a range of winter and summer recreational activities, including skiing, snowboarding, snowshoeing, snowtubing, sightseeing, mountain biking, guided hiking, zip lines, challenge ropes courses, alpine slides, mountain coasters and other recreational activities. At fiscal year end 2025, it employed approximately 6,800 year-round employees, and over the course of its Resorts' operating seasons during fiscal 2025 it employed approximately 39,800 seasonal employees. For fiscal 2025, its pass products generated approximately 65% of its total lift revenue and approximately 75% of total visitation, excluding complimentary access. Its operations are grouped into three reportable segments, Mountain, Lodging and Real Estate, which represented approximately 89%, 11% and 0%, respectively, of its net revenue for its fiscal year ended July 31, 2025. Vail Resorts, Inc., a Delaware corporation, was organized as a holding company in 1997 and operates through various subsidiaries.

Written from the business description in VAIL RESORTS INC's annual report to the U.S. Securities and Exchange Commission, filed 29 September 2025. Every sentence was checked against that document before publication.

Growth
USD 3.0B
Revenue, FY2025 · full 17-year series below
Revenue $B Net income $B
FY2025 · Revenue 3.0 · Net income 0.3
1B2B200920112013201520172019202120232025
Compound annual growth
+5.5%
+8.6%
+7.8%
+8.3%
−7.0%
+23.2%
+9.3%
+16.0%
−4.1%
+25.5%
+9.4%
+15.8%
+16.8%
+11.0%
+15.6%
+25.8%
+18.2%
+23.0%
+27.9%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +8.6% a year over five years — but profit grew faster: net income at +23.2%, earnings per share at +25.5%.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
10 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 18.9% · Net 10.1%
10%20%200920112013201520172019202120232025
ROE
FY2025 · ROE 49.4%
20%40%200920112013201520172019202120232025

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

Cash & shareholders
USD 598.2M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 319.7
200M400M200920112013201520172019202120232025
Net buybacks $M Dividends $M
FY2025 · Dividends 328.2 · Net buybacks 270.0
400M800MDividendsNet buybacks200920112013201520172019202120232025

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.

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.

The 17-year record
17 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative
Metric 20252024202320222021202020192018201720162015201420132012201120102009
Revenue $B3.02.92.92.51.92.02.32.01.91.61.41.31.11.01.20.91.0
Operating income $B0.60.50.50.60.30.20.50.40.40.30.20.10.10.10.10.10.1
EBITDA $B0.90.80.80.80.50.50.70.60.60.40.40.30.20.20.20.20.2
Income tax $B0.10.10.10.10.00.00.1−0.10.10.10.00.00.00.00.00.00.0
Net income $B0.30.20.30.30.10.10.30.40.20.10.10.00.00.00.00.00.0
Free cash flow $B0.30.40.30.50.40.20.40.40.30.30.20.10.10.10.2−0.00.0
EPS, diluted $7.536.096.698.553.132.427.329.135.224.013.070.771.030.450.940.831.33
Dividend / sh $8.888.567.945.580.005.286.465.053.732.872.081.250.790.680.150.00·
Payout %117140118650215875469696615875147160·
ROE %49.427.020.321.78.87.019.524.017.217.213.63.54.62.04.33.9·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Compare

This company against its peers

Provenance
Company facts, as filed
How we verify · 0 failures in 66 reconciliationsAUDITED

Reconciled in 17 of 19 fiscal years. 10 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityServices-Miscellaneous Amusement & Recreation
Listed onNYSE
Incorporated inDelaware
Fiscal year endsJuly 31
Data on record since2009

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