Vail Resorts Inc

Consumer Discretionary
Services-Misc. Amusement & Recreation
www.vailresorts.com

Earnings Score
Moat Score
Safety Score

Market Cap $7.22B
PE 31
Debt $2.84B
Cash $337.06M
EV $9.73B
FCF $375.58M

Earnings

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Sales & Net Margins

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Earnings	$230.41M
EBIT	$491.43M
ROE	22%
ROA	9%
FCF	$375.58M
Equity	$1.04B
Growth Stability	33%
PE	31.34
PEG	2
PB	6.95
P/FCF	19.23
P/S	2.5
Price/Cash	0.05
Debt/Equity	2.74
Debt/FCF	7.57
Net Margins	8%
Op. Margins	17%
Earnings CAGR	3%
Sales Growth YoY	-2%
Sales Growth QoQ	-79%
Sales CAGR	7%
FCF CAGR	4%
Equity CAGR	3%
Earnings Stability	0.03
Earnings Growth YoY	36%
Earnings Growth QoQ	-148%
Earnings CAGR 5Y	16%

Sales CAGR 5Y	10%
FCF CAGR 5Y	7%
Equity CAGR 5Y	-7%
Earnings CAGR 3Y	13%
Sales CAGR 3Y	13%
FCF CAGR 3Y	-17%
Equity CAGR 3Y	-20%
Market Cap	$7.22B
Revenue	$2.89B
Dividend Yield	4%
Payout Ratio	140%
Assets	$5.70B
Total Debt	$2.84B
Cash	$337.06M
Shares Outstanding	37.87M
EV	9.73B
Earnings Score	6%
Moat Score	90%
Safety Score	44%
Final Score	47%
Working Capital	-201.95M
Current Ratio	0.82
Shares Growth 3y	-3%
Equity Growth QoQ	-21%
Equity Growth YoY	-22%

Assets & ROA

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Stockholders Equity & ROE

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Vail Resorts Inc Bhd is a resorts and casinos company that operates mountain resorts and ski areas. The company has three business segments that include Mountain, Lodging, and Real Estate. The Mountain segment operates numerous ski resort properties that offer a variety of winter and summer activities, such as skiing, snowboarding, snowshoeing, hiking, and mountain biking. The Lodging segment owns and operates hotels and condominiums. The Real Estate segment owns, develops, and leases real estate, typically near its other properties. The company generates the vast majority of its revenue within the United States.

SEC Filings

Direct access to Vail Resorts Inc (MTN) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-K Jul 31
- 10-Q Apr 30
- 10-Q Jan 31
2023
- 10-Q Oct 31
- 10-K Jul 31
- 10-Q Apr 30
- 10-Q Jan 31
2022
- 10-Q Oct 31
- 10-K Jul 31
- 10-Q Apr 30
- 10-Q Jan 31

Sector Comparison

How does Vail Resorts Inc compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Vail Resorts Inc compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 3%

Stability 3%

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Vail Resorts Inc Discounted Cash Flow

Fully customizable DCF calculator online for Vail Resorts Inc.

Years

Calculation mode

= $4.8B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$376M	$389M	$403M	$418M	$433M	$449M	$465M	$482M	$500M	$518M	$536M	$5.4B
DCF		$354M	$333M	$314M	$296M	$279M	$263M	$247M	$233M	$220M	$207M	$2.1B
Value	$4.8B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	07/2015	07/2016	07/2017	07/2018	07/2019	07/2020	07/2021	07/2022	07/2023	07/2024	TTM
Net Margins	8%	9%	11%	19%	13%	5%	7%	14%	9%	8%	8%
ROA	-	11%	10%	10%	11%	4%	4%	10%	8%	9%	9%
ROE	-	17%	12%	21%	17%	6%	7%	19%	20%	22%	22%

Net Margins (7.99%)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	07/2015	07/2016	07/2017	07/2018	07/2019	07/2020	07/2021	07/2022	07/2023	07/2024	TTM
Debt over FCF	-	2.25	4.21	3.2	3.68	11.27	7.47	5.55	8.92	7.57	7.57
Debt over Equity	0.94	0.81	0.73	0.73	0.94	1.64	1.67	1.55	2.17	2.74	2.74
Growth Stability	-	-	-	100%	100%	33%	48%	100%	100%	93%	33%

Bad Debt/FCF ratio (7.57)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Bad Debt/Equity ratio (2.74)

The company is overleveraged and has a bad balance between equity and debt.

Bad Graham’s Stability (33%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	07/2015	07/2016	07/2017	07/2018	07/2019	07/2020	07/2021	07/2022	07/2023	07/2024	CAGR 5Y
Revenue YoY growth	-	14%	19%	5%	13%	-14%	-3%	32%	14%	-0%	10%
Earnings YoY growth	-	30%	41%	80%	-21%	-67%	26%	180%	-23%	-14%	16%
Equity YoY growth	-	1%	102%	1%	-5%	-11%	19%	1%	-28%	-22%	-7%
FCF YoY growth	-	77%	-2%	32%	8%	-50%	84%	26%	-37%	16%	7%