Vail Resorts, Inc. (MTN)

Vail Resorts Cash Flow Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct 31, 2025	Jul 31, 2025	Jul 31, 2024	Jul 31, 2023	Jul 31, 2022	Jul 31, 2021
Net Income	266.51	280	231.11	265.83	347.92	127.85
Depreciation & Amortization	298.01	296.44	279.07	269.18	252.39	252.59
Loss (Gain) From Sale of Assets	-6.93	-6.93	9.63	9.07	-43.99	5.37
Stock-Based Compensation	33.51	33.96	26.8	25.41	24.89	24.4
Other Operating Activities	-19.3	-22.62	67.79	86.11	34.81	-12.36
Change in Accounts Receivable	15.12	-6.71	12.89	4.25	-39.01	-237.19
Change in Inventory	-2.01	1.2	13.19	-23.42	-28.05	22.78
Change in Accounts Payable	11.05	18.4	9.37	-7.51	41.08	118.98
Change in Unearned Revenue	26.92	26.44	2.65	60.27	48.97	199.41
Change in Income Taxes	-13.35	-36.28	-43.44	-32.27	81.31	11.85
Change in Other Net Operating Assets	-21.47	-29.03	-20.03	-19.05	-9.82	11.57
Operating Cash Flow	588.07	554.87	589.02	637.86	710.5	525.25
Operating Cash Flow Growth	8.24%	-5.80%	-7.66%	-10.22%	35.27%	32.99%
Capital Expenditures	-235.85	-235.19	-211.2	-314.91	-192.82	-115.1
Sale of Property, Plant & Equipment	12.37	12.37	0.34	5.67	66.26	9.71
Cash Acquisitions	-	-	-94.36	-38.57	-116.34	-
Investment in Securities	-	-	57.65	-48.78	-	-
Other Investing Activities	18.31	18.32	6.5	123.42	-105.03	2.06
Investing Cash Flow	-205.16	-204.5	-241.07	-273.17	-347.92	-103.33
Long-Term Debt Issued	-	850	600	-	-	602.78
Long-Term Debt Repaid	-	-447.22	-655.86	-73.89	-146.63	-108.16
Net Debt Issued (Repaid)	402.78	402.78	-55.86	-73.89	-146.63	494.62
Repurchase of Common Stock	-256.13	-278.04	-155.63	-505.49	-112.31	-39.09
Common Dividends Paid	-324.84	-328.17	-323.68	-314.35	-225.79	-
Other Financing Activities	-32.82	-39.22	-41.87	-20.28	-8.41	-20.87
Financing Cash Flow	-211	-242.65	-577.04	-914	-493.14	434.66
Foreign Exchange Rate Adjustments	10.24	11.63	-6.95	-3.7	-1.91	-0.1
Net Cash Flow	182.14	119.36	-236.03	-553.01	-132.47	856.49
Free Cash Flow	352.22	319.68	377.83	322.94	517.68	410.15
Free Cash Flow Growth	12.02%	-15.39%	16.99%	-37.62%	26.22%	84.24%
Free Cash Flow Margin	11.84%	10.78%	13.10%	11.18%	20.50%	21.48%
Free Cash Flow Per Share	9.57	8.59	9.95	8.12	12.72	10.05
Cash Interest Paid	156.37	156.37	146.56	140.6	114.07	125.67
Cash Income Tax Paid	161.66	161.66	129.35	94.34	19.69	5.01
Levered Free Cash Flow	346.3	316.69	385.39	284.79	354.85	341.47
Unlevered Free Cash Flow	458.87	423.96	488.26	381.94	447.46	436.09
Change in Working Capital	16.27	-25.99	-25.38	-17.73	94.48	127.41

Updated Dec 10, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q