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Companies / Consumer Discretionary / Vail Resorts, Inc.
MTN

Vail Resorts, Inc.

Ticker MTNBROOMFIELD, COFiscal year ends JulyBook value per share $6.72Diluted shares 35.8M

Vail Resorts, Inc. (NYSE: MTN) operates mountain resorts and ski areas, offering lift tickets and season passes, ski and snowboard lessons, equipment rentals, retail, dining, lodging and winter and summer recreational activities to local and destination guests. Its Mountain segment operates 42 destination resorts and… From the company’s description.

In fiscal 2026, Vail Resorts, Inc. reported revenue of $2.84B, down 4.3% from fiscal 2025, and net income of $170.74M. Its operating margin was 14.8%, and operations generated $479.63M in cash.

Fiscal year 2026 · ends 07-31Changes are against fiscal 2025
Sales & profitability
$2.84BFY2026
−4.3% year over year
14.82%FY2026
−4.1 percentage points
$170.74MFY2026
−42.7% year over year
61.34%FY2026
−4.6 percentage points
Cash & financing
$479.63MFY2026
−13.6% year over year
$248.00MFY2026
−22.4% year over year
13.25FY2026
Was 7.52× a year earlier
35.8MFY2026
−3.8% year over year

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure.

What Vail Resorts, Inc. does

In the company’s own words

Vail Resorts, Inc. (NYSE: MTN) operates mountain resorts and ski areas, offering lift tickets and season passes, ski and snowboard lessons, equipment rentals, retail, dining, lodging and winter and summer recreational activities to local and destination guests. Its Mountain segment operates 42 destination resorts and regional ski areas, while also providing ancillary services; the Lodging segment owns or manages hotels, condominiums, national park concession properties, ground transportation and golf courses; and the Real Estate segment owns, develops and sells property in resort communities. In fiscal 2026, Mountain, Lodging and Real Estate accounted for approximately 88%, 12% and 0% of net revenue, respectively. The company’s resort portfolio includes Vail, Breckenridge, Park City, Whistler Blackcomb, Stowe, Perisher, Andermatt-Sedrun and Crans-Montana. Its lodging properties include seven RockResorts-branded properties. Pass products include Epic Pass and Epic Day Pass, and the My Epic app supports pass purchases and guest services. The company was organized as a holding company in 1997 and acquired European resorts Andermatt-Sedrun and Crans-Montana in 2022 and 2024. Its website is www.snow.com.

Company details
Sector
Consumer Discretionary
Industry (SIC)
Services
Headquarters
BROOMFIELD, CO
Fiscal year end
July
CIK
812011
SIC
7990

Financial performance, year by year

Fiscal 2012–2026 · USD
$-296.43M$592.87M$1.48B$2.37B$3.26B201220132014201520162017201820192020202120222023202420252026

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Vail Resorts, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

370
funds hold it
1 of 35
superinvestors hold it
$3.76B
held by funds, at market
79.4%
of shares held by funds
3
bond issues held by funds

Superinvestors in Vail Resorts, Inc. · what they did last quarter

Bill NygrenINCREASED +2.5%
Harris Associates (Oakmark)
0.1%of 13F portfolio

Share of each manager’s reported 13F portfolio. Change is in shares held, since the previous quarter.

Largest fund holders · Vail Resorts, Inc.’s weight in each

Baron Partners Fund
BPTRX · BARON SELECT FUNDS
2.42%of fund net assets
—of fund net assets
—of fund net assets
0.10%of fund net assets
Baron Focused Growth Fund
BFGFX · BARON SELECT FUNDS
3.13%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Vail Resorts, Inc.’s bonds, as funds hold them

Funds report holding 3 issues of Vail Resorts, Inc.’s debt, $564.28M at market value — what funds hold, not the company’s total debt. Weighted-average coupon 6.12%, maturing 2030 to 2032.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

Compare this company with peers, find it in your funds and follow its financial history with your connected AI:

  • “How do Vail Resorts, Inc. and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of Vail Resorts, Inc.'s earnings go — cash, debt, buybacks, reinvestment?”
  • “What changed in Vail Resorts, Inc.'s last four quarterly filings that the numbers alone won't show?”
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