MTN Financials Vail Resorts Inc

15 years of revenue, profit, cash flow and balance-sheet history through FY2026, from SEC filings — with a computed, factual read of the trend. Updated Oct 4, 2026, 10:16 UTC Overview →

Growth & profitability

Revenue has grown 8.2% per year over the past 5 years.
Net income has grown slower than revenue (2.9% vs 8.2% per year).
Operating margin has expanded, at 14.8% in the latest year.
Free cash flow has declined 9.6% per year over the past 5 years.

Financial health

Total debt ($3.2B) exceeds cash ($231M); net debt is $3.0B.
Total debt has grown slower than revenue (1.5% vs 8.2% per year).
Operating income covered interest expense 2.0× in the latest year, up from 1.7× 5 years ago.
Total debt is 4.4× EBITDA.

Shareholder returns

Dividends have been paid for 5 consecutive years, consuming 215.0% of earnings and 127.9% of free cash flow.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2026	$2.8B	$148M	0.0%	14.8%	61.3%	2.7%	$248M	$3.2B	$231M
2025	$3.0B	$280M	0.0%	18.9%	66.0%	4.8%	$320M	$3.2B	$440M
2024	$2.9B	$231M	0.0%	16.9%	32.6%	4.1%	$378M	$2.8B	$323M
2023	$2.9B	$266M	0.0%	17.5%	26.5%	4.5%	$323M	$2.8B	$563M
2022	$2.5B	$348M	0.0%	23.8%	21.6%	5.5%	$518M	$2.8B	$1.1B
2021	$1.9B	$128M	0.0%	13.7%	8.0%	2.0%	$410M	$2.9B	$1.2B
2020	$2.0B	$99M	0.0%	11.4%	7.5%	1.9%	$223M	$2.4B	$391M
2019	$2.3B	$301M	0.0%	21.0%	20.1%	6.8%	$442M	$1.6B	$109M
2018	$2.0B	$380M	0.0%	20.3%	23.9%	9.3%	$408M	$1.3B	$178M
2017	$1.9B	$211M	0.0%	19.9%	13.4%	5.1%	$327M	$1.3B	$117M
2016	$1.6B	$150M	0.0%	17.7%	17.1%	6.0%	$328M	$702M	$68M
2015	—	$115M	—	—	13.2%	4.6%	$180M	$817M	$35M
2014	—	$28M	—	—	3.5%	1.3%	$128M	$627M	$44M
2013	—	$38M	—	—	4.6%	1.6%	$127M	$797M	$139M
2012	—	$16M	—	—	2.1%	0.9%	$53M	$491M	$46M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Jul '26	$278M	-$190M	0.0%	-75.1%	-79.1%	-3.4%	-$153M	$3.2B	$231M
Apr '26	$1.2B	$314M	0.0%	41.0%	57.0%	5.5%	-$28M	$3.0B	$371M
Jan '26	$1.1B	$210M	0.0%	31.8%	69.6%	3.8%	$185M	$2.9B	$385M
Oct '25	$271M	-$187M	0.0%	-77.4%	-119.4%	-3.2%	$244M	$3.2B	$581M
Jul '25	$271M	-$181M	0.0%	-73.4%	-42.6%	-3.1%	-$226M	$3.2B	$440M
Apr '25	$1.3B	$390M	0.0%	44.6%	44.4%	6.8%	$82M	$2.7B	$467M
Jan '25	$1.1B	$244M	0.0%	33.7%	47.4%	4.4%	$251M	$2.7B	$488M
Oct '24	$260M	-$173M	0.0%	-77.6%	-40.3%	-3.1%	$212M	$2.8B	$404M
Jul '24	$265M	-$175M	0.0%	-75.8%	-24.6%	-3.1%	-$148M	$2.8B	$323M
Apr '24	$1.3B	$362M	0.0%	42.6%	36.1%	6.2%	$85M	$2.8B	$705M
Jan '24	$1.1B	$219M	0.0%	32.5%	26.4%	3.8%	$166M	$2.8B	$812M
Oct '23	$259M	-$176M	0.0%	-80.1%	-27.7%	-3.0%	$275M	$2.8B	$729M
Jul '23	$270M	-$129M	0.0%	-59.3%	-12.8%	-2.2%	-$141M	$2.8B	$563M
Apr '23	$1.2B	$325M	0.0%	40.4%	25.5%	5.2%	$67M	$2.8B	$896M
Jan '23	$1.1B	$209M	0.0%	29.8%	14.3%	3.2%	$190M	$2.9B	$1.3B
Oct '22	$279M	-$137M	0.0%	-58.5%	-10.8%	-2.2%	$209M	$2.8B	$1.2B
Jul '22	$267M	-$109M	0.0%	-36.7%	-6.7%	-1.7%	-$93M	$2.8B	$1.1B
Apr '22	$1.2B	$373M	0.0%	45.9%	20.4%	5.8%	$129M	$2.8B	$1.4B
Jan '22	$907M	$223M	0.0%	35.9%	14.3%	3.5%	$184M	$2.8B	$1.4B
Oct '21	$176M	-$139M	0.0%	-94.4%	-9.7%	-2.2%	$299M	$2.9B	$1.5B

Valuation over time

How the market has priced MTN against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 23.9× (Mar '23) to 37.4× (Nov '26).
The price-to-sales ratio has fallen from 3.3× (Mar '23) to 1.9× (Nov '26).
The dividend yield has risen from 2.7% (Mar '23) to 5.7% (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is MTN growing its revenue and profit?

Over the past 5 years, Vail Resorts Inc's revenue has grown 8.2% per year, and net income grown 2.9% per year. These are computed facts, not advice.

How much debt does MTN have?

As of FY2026, Vail Resorts Inc reported $3.2B of total debt against $231M of cash; operating income covered interest expense 2.0×.

What is MTN's profit margin?

In FY2026, gross margin was —, operating margin 14.8%, and net margin 5.2%.

What is MTN's P/E ratio?

Vail Resorts Inc's P/E (TTM) is 37.39 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the MTN stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 37.4× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.