Vail Resorts, Inc. (MTN)

Vail Resorts Income Statement

Financials in millions USD. Fiscal year is August - July.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jul 31, 2025	Jul 31, 2024	Jul 31, 2023	Jul 31, 2022	Jul 31, 2021
Revenue	2,964	2,885	2,889	2,526	1,910
Revenue Growth (YoY)	2.74%	-0.14%	14.39%	32.27%	-2.75%
Cost of Revenue	1,648	1,606	1,621	1,299	1,041
Gross Profit	1,316	1,279	1,268	1,227	868.65
Selling, General & Admin	474.91	459.83	436.67	395.19	335.59
Operating Expenses	771.35	738.9	705.84	647.58	588.18
Operating Income	544.8	540.15	562.48	579.54	280.47
Interest Expense	-171.63	-164.6	-155.45	-148.18	-151.4
Interest & Investment Income	10.13	18.59	23.74	3.72	0.59
Earnings From Equity Investments	3.92	1.05	0.61	2.58	6.7
Currency Exchange Gain (Loss)	0.02	-4.14	-2.91	-2.68	8.28
EBT Excluding Unusual Items	387.24	391.06	428.48	434.97	144.63
Merger & Restructuring Charges	-	-	-	-2.8	-
Gain (Loss) on Sale of Assets	31.34	-3.35	-8.23	45.27	-5.05
Other Unusual Items	-16.18	-47.96	-49.84	-20.28	-14.4
Pretax Income	402.4	339.76	370.42	457.16	125.18
Income Tax Expense	104.42	92.78	87.64	88.82	0.73
Earnings From Continuing Operations	297.98	246.98	282.78	368.34	124.46
Minority Interest in Earnings	-17.97	-15.87	-16.96	-20.41	3.39
Net Income	280	231.11	265.83	347.92	127.85
Net Income to Common	280	231.11	265.83	347.92	127.85
Net Income Growth	21.16%	-13.06%	-23.60%	172.13%	29.36%
Shares Outstanding (Basic)	37	38	40	40	40
Shares Outstanding (Diluted)	37	38	40	41	41
Shares Change (YoY)	-1.98%	-4.54%	-2.28%	-0.34%	-0.02%
EPS (Basic)	7.54	6.10	6.70	8.60	3.17
EPS (Diluted)	7.53	6.09	6.69	8.55	3.13
EPS Growth	23.64%	-8.97%	-21.75%	173.16%	29.34%
Free Cash Flow	319.68	377.83	322.94	517.68	410.15
Free Cash Flow Per Share	8.59	9.95	8.12	12.72	10.05
Dividend Per Share	8.880	8.560	7.940	5.580	-
Dividend Growth	3.74%	7.81%	42.29%	-	-
Gross Margin	44.40%	44.33%	43.90%	48.58%	45.49%
Operating Margin	18.38%	18.72%	19.47%	22.94%	14.69%
Profit Margin	9.45%	8.01%	9.20%	13.77%	6.69%
Free Cash Flow Margin	10.78%	13.10%	11.18%	20.50%	21.48%
EBITDA	841.24	819.23	831.66	831.93	533.05
EBITDA Margin	28.38%	28.39%	28.78%	32.94%	27.91%
D&A For EBITDA	296.44	279.07	269.18	252.39	252.59
EBIT	544.8	540.15	562.48	579.54	280.47
EBIT Margin	18.38%	18.72%	19.47%	22.94%	14.69%
Effective Tax Rate	25.95%	27.31%	23.66%	19.43%	0.58%
Revenue as Reported	2,964	2,885	2,889	2,526	1,910
Advertising Expenses	48	49.8	47.2	47.7	38.6

Updated Sep 29, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q