# Vail Resorts, Inc. (MTN)

> Source: Nexqual · https://nexqual.com/MTN · data as of 2026-10-15 20:00 UTC · cite as "Nexqual, Vail Resorts, Inc. (MTN), nexqual.com/MTN" · informational, not investment advice.

**Price:** USD 152.96 (+2.35% on the day) · last close of Oct 15, 2026; US market closed, not a live price. Prev close 149.45 · day 150.5–154.87 · 52w 118.51–163.34 · market cap $5.45B · NYQ

## Key facts
- Last four reported quarters (through Jul 31, 2026): revenue $2.84B, net income $148M (5.2% margin), free cash flow $248M (SEC filings).
- Valuation: P/E 36.9x (avg 28.7x at the last 3 fiscal year-ends), EV/EBITDA 11.5x, net debt $2.92B.
- 4 of 80 tracked superinvestors hold MTN (13F, Q2 2026): 0 new, 2 added, 1 reduced, 1 unchanged.
- Analysts: Hold (mean 2.87 on a 1–5 scale) (15 analysts), mean target USD 148.36 (range 117–192).
- Total return with dividends: 1Y +9.0% vs S&P 500 +18.1%; 5Y -43.0% vs S&P 500 +85.1%.
- Next earnings: 2026-12-09, EPS estimate USD -5.57, revenue estimate $276M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $2.53B | $2.89B | $2.89B | $2.96B | $2.84B | $2.84B |
| Operating income | $602M | $504M | $489M | $560M | $421M | $421M |
| Net income | $348M | $266M | $231M | $280M | $148M | $148M |
| EPS (diluted) | $8.55 | $6.69 | $6.09 | $7.53 | $4.12 | — |
| Free cash flow | $518M | $323M | $378M | $320M | $248M | $248M |
| Operating margin | 23.8% | 17.5% | 16.9% | 18.9% | 14.8% | 14.8% |
| Net margin | 13.8% | 9.2% | 8.0% | 9.4% | 5.2% | 5.2% |
| Revenue growth | +32.3% | +14.4% | -0.1% | +2.7% | -4.3% | — |
| Cash + short-term investments | $1.11B | $563M | $323M | $440M | $268M | — |
| Total debt | $2.73B | $2.82B | $2.79B | $3.19B | $3.19B | — |
Fiscal years end Jul. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jul 31, 2026)
P/E 36.9x · P/S 1.9x · EV/EBITDA 11.5x · EV/Sales 3.0x · P/FCF 22.0x · P/B 22.7x · FCF yield 4.55% · Earnings yield 2.71% · Dividend yield (paid, TTM) 5.82% · Buyback yield (TTM) 0.83% · Net debt $2.92B · EV $8.37B
P/E at fiscal year-ends: Jul 2026 36.2x, Jul 2025 20.0x, Jul 2024 29.9x.

## Superinvestors (SEC 13F-HR, Q2 2026)
4 of 80 tracked investors hold MTN. Change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| First Pacific Advisors |  | 2.23% | $178M | Added +10.9% |
| John Rogers | Ariel Investments | 0.15% | $14.9M | Reduced -2.8% |
| Bill Nygren | Oakmark Funds | 0.14% | $104M | Added +2.5% |
| First Eagle Investment | First Eagle Investment Management | 0.01% | $3.2M | Unchanged |

## Analysts
Consensus Hold (mean 2.87 on a 1–5 scale), 15 analysts; mean target USD 148.36 (low 117, high 192).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-13 | Ladenburg Thalmann | Initiated | Buy | $192 |
| 2026-10-12 | Stifel | Target raised | Buy | $157 → $172 |
| 2026-09-30 | Morgan Stanley | Target lowered | Equal-Weight | $147 → $142 |
| 2026-09-29 | JP Morgan | Target raised | Neutral | $126 → $150 |
| 2026-09-29 | Truist Securities | Target lowered | Buy | $195 → $191 |
| 2026-09-29 | Mizuho | Target lowered | Outperform | $160 → $156 |
| 2026-09-29 | Deutsche Bank | Target lowered | Hold | $138 → $132 |
| 2026-09-29 | Wells Fargo | Target raised | Equal-Weight | $125 → $130 |
| 2026-09-29 | Barclays | Target lowered | Underweight | $119 → $117 |
| 2026-09-29 | Stifel | Target lowered | Buy | $161 → $157 |
| 2026-09-24 | Mizuho | Target lowered | Outperform | $174 → $160 |
| 2026-09-24 | Stifel | Target lowered | Buy | $167 → $161 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-16) | 5Y (from 2021-10-11) |
|---|---|---|
| Total return | +9.0% | -43.0% |
| S&P 500 (SPY) | +18.1% | +85.1% |
| Per year | +9.1% | -10.6% |
| Volatility (annualized) | 37.6% | 29.4% |
| Max drawdown | -23.9% (Dec 2025→Apr 2026) | -61.2% (Nov 2021→Apr 2026) |

## Peers (Resorts & Casinos)
RRR (Red Rock Resorts, Inc.) USD 50.48 -0.69% · BYD (Boyd Gaming Corporation) USD 70.97 +0.72% · CZR (Caesars Entertainment, Inc.) USD 29.25 -0.75% · MGM (MGM Resorts International) USD 29.48 +0.27% · VAC (Marriott Vacations Worldwide Co) USD 112.3 +3.46% · WYNN (Wynn Resorts, Limited) USD 76.97 +1.68%

## More
Full page: https://nexqual.com/MTN · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt