Vail Resorts, Inc. (MTN) Key Metrics
MTN valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $5.38B
- Enterprise value
- $7.88B
- P/E (TTM)
- 36.9 10-yr median 34.5
- Forward P/E
- 21.9
- PEG ratio
- 3.33
- Price / sales
- 1.9 10-yr median 3.9
- Price / book
- 9.0 10-yr median 7.5
- EV / EBITDA
- 10.6 10-yr median 15.6
- Dividend yield
- 5.88% $8.88 a year
- Beta
- 0.77
MTN key metrics, FY2017–FY2026
Fiscal year ended July 31, 2026 · U.S. dollarsMTN valuation Price multiples at each fiscal year-end price.
MTN returns How much profit the business earns on the capital it uses.
MTN per-share figures Results divided by the shares outstanding at year-end.
MTN financial health Debt, liquidity and how easily interest is covered.
MTN efficiency & capital use Working capital cycle and where the cash goes.
MTN valuation history
MTN returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
MTN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
MTN cash returned to shareholders
MTN price vs earnings per share
MTN key metrics
FY2017–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $5.35B | $5.59B | $6.91B | $9.36B | $9.65B | $12.46B | $7.84B | $10.15B | $11.52B | $8.51B |
| Enterprise value | $8.50B | $8.59B | $9.63B | $11.83B | $11.48B | $14.29B | $10.16B | $11.63B | $12.64B | $9.69B |
| P/E ratio | 36.2 | 20.0 | 29.9 | 35.2 | 27.7 | 97.5 | 79.3 | 33.7 | 30.3 | 40.4 |
| Price / sales | 1.9 | 1.9 | 2.4 | 3.2 | 3.8 | 6.5 | 4.0 | 4.5 | 5.7 | 4.5 |
| Price / book | 22.2 | 13.2 | 9.5 | 9.3 | 6.0 | 7.8 | 6.0 | 6.8 | 7.2 | 5.4 |
| Price / free cash flow | 21.6 | 17.5 | 18.4 | 28.8 | 18.6 | 30.4 | 35.2 | 22.9 | 28.0 | 27.2 |
| Price / operating cash flow | 11.1 | 10.1 | 11.8 | 14.6 | 13.6 | 23.7 | 19.9 | 16.0 | 20.9 | 18.6 |
| EV / sales | 3.0 | 2.9 | 3.3 | 4.1 | 4.5 | 7.5 | 5.2 | 5.1 | 6.3 | 5.1 |
| EV / EBITDA | 11.5 | 9.9 | 12.3 | 14.9 | 13.4 | 27.0 | 21.5 | 16.7 | 20.8 | 16.4 |
| EV / free cash flow | 34.3 | 26.9 | 25.6 | 36.4 | 22.2 | 34.8 | 45.6 | 26.3 | 30.8 | 31.0 |
| Earnings yield | 2.8% | 5.0% | 3.3% | 2.8% | 3.6% | 1.0% | 1.3% | 3.0% | 3.3% | 2.5% |
| Free cash flow yield | 4.6% | 5.7% | 5.4% | 3.5% | 5.4% | 3.3% | 2.8% | 4.4% | 3.6% | 3.7% |
| Dividend yield | 5.9% | 5.9% | 4.7% | 3.4% | 2.3% | 0.6% | 2.7% | 2.6% | 1.8% | 1.7% |
| Shareholder yield (dividends + buybacks) | 6.8% | 10.7% | 6.9% | 8.7% | 3.1% | 0.9% | 3.3% | 3.4% | 2.0% | 1.7% |
| Share price at fiscal year-end | $149.38 | $150.26 | $182.01 | $235.49 | $237.13 | $305.20 | $192.03 | $246.52 | $276.87 | $210.76 |
| Per share | ||||||||||
| Revenue per share | $79.30 | $79.68 | $76.01 | $72.67 | $62.08 | $46.77 | $48.09 | $55.19 | $48.33 | $47.25 |
| Earnings per share | $4.12 | $7.53 | $6.09 | $6.69 | $8.55 | $3.13 | $2.42 | $7.32 | $9.13 | $5.22 |
| Operating cash flow per share | $13.40 | $14.91 | $15.46 | $16.09 | $17.46 | $12.86 | $9.67 | $15.41 | $13.25 | $11.32 |
| Free cash flow per share | $6.93 | $8.59 | $9.89 | $8.17 | $12.72 | $10.05 | $5.45 | $10.74 | $9.88 | $7.74 |
| Cash per share | $7.50 | $11.83 | $8.51 | $14.16 | $27.22 | $30.47 | $9.57 | $2.64 | $4.28 | $2.91 |
| Book value per share | $6.72 | $11.41 | $19.06 | $25.25 | $39.63 | $39.06 | $32.24 | $36.46 | $38.19 | $38.92 |
| Tangible book value per share | −$48.25 | −$41.64 | −$33.12 | −$25.80 | −$11.22 | −$12.38 | −$17.31 | −$10.05 | −$4.01 | −$6.03 |
| Dividends per share | $8.86 | $8.82 | $8.53 | $7.91 | $5.55 | $1.91 | $5.21 | $6.33 | $4.91 | $3.62 |
| Capex per share | $6.47 | $6.32 | $5.56 | $7.92 | $4.74 | $2.82 | $4.22 | $4.67 | $3.38 | $3.58 |
| Debt per share | $95.62 | $92.58 | $80.22 | $76.08 | $72.33 | $75.33 | $66.28 | $38.76 | $31.11 | $32.13 |
| Shares outstanding | 35.8M | 37.2M | 38.0M | 39.8M | 40.7M | 40.8M | 40.8M | 41.2M | 41.6M | 40.4M |
| Change in shares outstanding | −3.8% | −2.0% | −4.5% | −2.3% | −0.3% | −0.0% | −0.8% | −1.1% | +3.1% | +8.2% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 44.4% | 48.8% | 26.8% | 20.3% | 21.7% | 8.8% | 7.0% | 19.5% | 24.0% | 17.2% |
| Return on invested capital (ROIC) | 9.3% | 12.1% | 10.3% | 11.1% | 14.1% | 7.4% | 6.3% | 13.6% | 15.0% | 11.8% |
| Return on assets (ROA) | 2.6% | 4.9% | 4.0% | 4.3% | 5.5% | 2.2% | 2.0% | 7.1% | 9.3% | 6.4% |
| Return on tangible assets | 4.1% | 7.4% | 6.2% | 6.8% | 8.2% | 3.1% | 3.1% | 12.0% | 16.5% | 9.2% |
| Free cash flow margin | 8.7% | 10.8% | 13.0% | 11.2% | 20.5% | 21.5% | 11.3% | 19.5% | 20.4% | 16.4% |
| Income quality (OCF / net income) | 3.25 | 1.98 | 2.54 | 2.41 | 2.04 | 4.11 | 4.00 | 2.11 | 1.45 | 2.17 |
| Financial health | ||||||||||
| Total debt | $3.42B | $3.44B | $3.04B | $3.03B | $2.94B | $3.08B | $2.71B | $1.60B | $1.29B | $1.30B |
| Cash & short-term investments | $268.5M | $440.3M | $322.8M | $563.0M | $1.11B | $1.24B | $391.0M | $108.8M | $178.1M | $117.4M |
| Net debt | $3.15B | $3.00B | $2.72B | $2.46B | $1.84B | $1.83B | $2.32B | $1.49B | $1.12B | $1.18B |
| Debt / equity | 14.23 | 8.11 | 4.21 | 3.01 | 1.83 | 1.93 | 2.06 | 1.06 | 0.81 | 0.83 |
| Debt / assets | 0.62 | 0.60 | 0.53 | 0.51 | 0.47 | 0.49 | 0.52 | 0.36 | 0.32 | 0.32 |
| Net debt / EBITDA | 4.27 | 3.45 | 3.49 | 3.10 | 2.14 | 3.46 | 4.90 | 2.13 | 1.84 | 1.99 |
| Current ratio | 0.80 | 0.63 | 0.82 | 1.07 | 1.61 | 1.78 | 1.10 | 0.73 | 0.91 | 0.72 |
| Quick ratio | 0.68 | 0.56 | 0.72 | 0.95 | 1.51 | 1.70 | 0.93 | 0.60 | 0.76 | 0.58 |
| Interest coverage | 2.0 | 3.3 | 3.0 | 3.2 | 4.1 | 1.7 | 2.1 | 6.0 | 6.5 | 7.0 |
| Working capital | −$220.5M | −$617.8M | −$195.2M | $77.4M | $680.7M | $767.2M | $61.6M | −$191.2M | −$54.9M | −$171.5M |
| Invested capital | $3.39B | $3.43B | $3.45B | $3.47B | $3.45B | $3.43B | $3.63B | $2.99B | $2.71B | $2.75B |
| Tangible asset value | −$1.41B | −$1.22B | −$942.0M | −$694.0M | −$221.5M | −$271.1M | −$492.1M | −$187.5M | $55.4M | −$15.7M |
| Net current asset value | −$4.09B | −$3.97B | −$3.75B | −$3.40B | −$2.68B | −$2.68B | −$3.05B | −$2.17B | −$1.71B | −$1.88B |
| Graham number | $24.97 | $43.96 | $51.10 | $61.63 | $87.32 | $52.46 | $41.90 | $77.48 | $88.57 | $67.59 |
| Graham net-net per share | −$122.00 | −$113.92 | −$105.27 | −$92.98 | −$74.25 | −$70.51 | −$78.13 | −$56.83 | −$44.67 | −$49.84 |
| Capital allocation | ||||||||||
| Dividends paid | $317.1M | $328.2M | $323.7M | $314.4M | $225.8M | $78.2M | $212.7M | $260.6M | $204.2M | $146.2M |
| Share buybacks (net) | $45.0M | $270.0M | $150.0M | $500.0M | $75.0M | $39.1M | $46.4M | $85.0M | $25.8M | $210,000 |
| Dividend payout ratio | 215.0% | 117.2% | 140.1% | 118.3% | 64.9% | 61.1% | 215.2% | 86.5% | 53.7% | 69.5% |
| Dividends + buybacks / free cash flow | 146.0% | 187.1% | 126.1% | 250.8% | 58.1% | 28.6% | 116.4% | 78.1% | 55.9% | 46.9% |
| Capex / revenue | 8.2% | 7.9% | 7.3% | 10.9% | 7.6% | 6.0% | 8.8% | 8.5% | 7.0% | 7.6% |
| Capex / operating cash flow | 48.3% | 42.4% | 36.0% | 49.2% | 27.1% | 21.9% | 43.6% | 30.3% | 25.5% | 31.6% |
| Capex / depreciation | 0.76 | 0.79 | 0.76 | 1.17 | 0.76 | 0.46 | 0.69 | 0.88 | 0.69 | 0.76 |
| Stock-based compensation / revenue | 1.0% | 1.1% | 0.9% | 0.9% | 1.0% | 1.3% | 1.1% | 0.9% | 0.9% | 1.0% |
| SG&A / revenue | 15.3% | 14.6% | 15.9% | 15.1% | 15.6% | 17.6% | 16.3% | 14.0% | 14.5% | 12.4% |
| Efficiency | ||||||||||
| Days sales outstanding | 47.4 | 46.7 | 47.9 | 48.3 | 52.7 | 43.2 | 35.1 | 40.3 | 37.9 | 32.0 |
| Days of inventory on hand | 27.8 | 25.4 | 27.7 | 26.4 | 25.6 | 30.8 | 30.5 | 25.6 | 27.2 | 26.8 |
| Days payables outstanding | 32.4 | 30.3 | 31.9 | 32.8 | 33.7 | 26.7 | 24.0 | 24.9 | 24.3 | 24.2 |
| Cash conversion cycle (days) | 42.9 | 41.8 | 43.7 | 41.9 | 44.5 | 47.3 | 41.6 | 41.0 | 40.8 | 34.5 |
| Receivables turnover | 7.69 | 7.82 | 7.62 | 7.56 | 6.93 | 8.45 | 10.40 | 9.06 | 9.63 | 11.42 |
| Payables turnover | 11.28 | 12.06 | 11.43 | 11.13 | 10.81 | 13.67 | 15.22 | 14.64 | 15.02 | 15.06 |
| Inventory turnover | 13.13 | 14.36 | 13.17 | 13.83 | 14.28 | 11.85 | 11.97 | 14.25 | 13.43 | 13.63 |
| Asset turnover | 0.50 | 0.52 | 0.50 | 0.47 | 0.40 | 0.33 | 0.41 | 0.54 | 0.49 | 0.58 |
| Average receivables | $368.8M | $379.1M | $378.4M | $382.2M | $364.4M | $226.0M | $188.8M | $250.9M | $208.9M | $167.0M |
| Average payables | $146.5M | $140.6M | $144.9M | $149.9M | $124.8M | $79.0M | $78.0M | $88.6M | $76.2M | $72.1M |
| Average inventory | $125.9M | $118.1M | $125.8M | $120.6M | $94.5M | $91.1M | $99.2M | $91.1M | $85.2M | $79.7M |
| Intangibles / total assets | 35.6% | 34.2% | 34.8% | 34.1% | 32.7% | 33.6% | 38.6% | 43.3% | 43.2% | 44.1% |
Computed from MTN's annual financial statements (latest annual report filed September 28, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
MTN valuation and financial ratios
At the end of fiscal 2026 (July 31, 2026), Vail Resorts traded at 36.2 times earnings, against a 10-year median of 34.5. Based on the latest twelve months, the trailing P/E is 36.9 and the forward P/E is 21.9. Vail Resorts earned a return on equity of 44.4% and a return on invested capital of 9.3% in fiscal 2026. It ended the year with $3.4 billion of debt and $268.5 million in cash and short-term investments, net debt of $3.2 billion. It returned $362.1 million to shareholders: $317.1 million in dividends and $45.0 million in share buybacks, 146% of free cash flow. The share count fell 11.3% from 40.4M to 35.8M over 9 years.
See the MTN income statement, the MTN chart for price history, or the MTN stock overview for the latest quote and news.
MTN key metrics FAQ
What is Vail Resorts's P/E ratio?
Vail Resorts's trailing P/E ratio is 36.9 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 21.9. At the end of fiscal 2026 it was 36.2, compared with a 10-year median of 34.5.
What is Vail Resorts's EV/EBITDA?
Vail Resorts's enterprise value was 11.5 times EBITDA at the end of fiscal 2026 (enterprise value $8.5 billion, EBITDA $738.2 million); the current EV/EBITDA is 10.6.
What is Vail Resorts's return on equity?
Vail Resorts's return on equity (ROE) was 44.4% in fiscal 2026: net income of $147.5 million on average shareholders' equity of $332.5 million.
What is Vail Resorts's ROIC?
Vail Resorts's return on invested capital was 9.3% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Vail Resorts have?
Vail Resorts had total debt of $3.4 billion at the end of fiscal 2026, a debt-to-equity ratio of 14.23 and $3.2 billion of net debt (4.27 times EBITDA).
What is Vail Resorts's dividend yield?
Vail Resorts's forward dividend yield is 5.88%. Vail Resorts paid $317.1 million in dividends in fiscal 2026 ($8.86 per share), a payout ratio of 215.0%.
Does Vail Resorts buy back its shares?
Yes. Vail Resorts spent $45.0 million on net share repurchases in fiscal 2026 Shares outstanding changed −3.8% over the year, to 35.8M..
What is Vail Resorts's free cash flow yield?
Vail Resorts generated $248.0 million of free cash flow in fiscal 2026, a free cash flow yield of 4.6% on its market value at year-end ($5.3 billion).
What is Vail Resorts's current ratio?
Vail Resorts's current ratio was 0.80 at the end of fiscal 2026: current assets were 0.80 times current liabilities.