Vail Resorts Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Jul 31, 2026 · FY), Vail Resorts Inc. reported revenue of $2.8B (-4.3% year on year) and net income of $170.7M (-42.7% year on year).
| Line item | Jul 31, 2026 · FY | Jul 31, 2025 · FY | Jul 31, 2024 · FY | Jul 31, 2023 · FY |
|---|---|---|---|---|
| Mountain and Lodging services and other | $2.4B | $2.5B | $2.4B | $2.4B |
| Mountain and Lodging retail and dining | $464.8M | $499.0M | $492.3M | $509.1M |
| Resort net revenue | $2.8B | $3.0B | $2.9B | $2.9B |
| Real Estate | $6.2M | $435.0K | $4.7M | $8.1M |
| Total net revenue | $2.8B | $3.0B | $2.9B | $2.9B |
| Mountain and Lodging operating expense | $1.5B | $1.5B | $1.5B | $1.5B |
| Mountain and Lodging retail and dining cost of products sold | $168.0M | $182.0M | $188.1M | $203.3M |
| General and administrative | $434.0M | $433.7M | $410.0M | $389.5M |
| Resort operating expense | $2.1B | $2.1B | $2.1B | $2.0B |
| Real Estate operating expense | $12.0M | $6.2M | $9.5M | $10.6M |
| Total segment operating expense | $2.1B | $2.1B | $2.1B | $2.1B |
| Depreciation and amortization | ($305.6M) | ($296.4M) | ($276.5M) | ($268.5M) |
| Gain on sale of real property, net | $13.2M | $24.4M | $6.3M | $842.0K |
| Change in estimated fair value of contingent consideration (Note 9) | ($19.2M) | ($9.4M) | ($48.0M) | ($49.8M) |
| (Loss) gain on disposal of fixed assets and other, net | ($6.8M) | $6.9M | ($9.6M) | ($9.1M) |
| Income from operations | $420.5M | $560.0M | $491.4M | $505.1M |
| Interest expense, net | ($205.6M) | ($171.6M) | ($161.8M) | ($153.0M) |
| Mountain equity investment income, net | $829.0K | $3.9M | $1.1M | $605.0K |
| Investment income and other, net | $11.1M | $10.1M | $18.6M | $23.7M |
| Foreign currency gain (loss) on intercompany loans (Note 6) | $80.0K | $20.0K | ($4.1M) | ($2.9M) |
| Income before provision for income taxes | $227.0M | $402.4M | $345.1M | $373.5M |
| Provision for income taxes (Note 10) | ($56.2M) | ($104.4M) | ($98.8M) | ($88.4M) |
| Net income | $170.7M | $298.0M | $246.3M | $285.1M |
| Net income attributable to noncontrolling interests | ($23.2M) | ($18.0M) | ($15.9M) | ($17.0M) |
| Net income attributable to Vail Resorts, Inc. | $147.5M | $280.0M | $230.4M | $268.1M |
| Basic net income per share attributable to Vail Resorts, Inc. | $4.13 | $7.54 | $6.08 | $6.76 |
| Diluted net income per share attributable to Vail Resorts, Inc. | $4.12 | $7.53 | $6.07 | $6.74 |
| Cash dividends declared per share | $8.88 | $8.88 | $8.56 | $7.94 |
| Line item | Apr 30, 2026 · Q3 | Jan 31, 2026 · Q2 | Oct 31, 2025 · Q1 | Apr 30, 2025 · Q3 |
|---|---|---|---|---|
| Mountain and Lodging services and other | $1.0B | $918.6M | $198.1M | $1.1B |
| Mountain and Lodging retail and dining | $161.2M | $165.3M | $72.9M | $180.4M |
| Resort net revenue | $1.2B | $1.1B | $270.9M | $1.3B |
| Real Estate Revenue | $82.0K | $42.0K | $80.0K | $115.0K |
| Total net revenue | $1.2B | $1.1B | $271.0M | $1.3B |
| Mountain and Lodging operating expense | $459.9M | $481.3M | $273.1M | $483.2M |
| Mountain and Lodging retail and dining cost of products sold | $56.7M | $58.5M | $28.2M | $59.2M |
| General and administrative | $102.6M | $121.6M | $110.4M | $106.0M |
| Resort operating expense | $619.1M | $661.4M | $411.7M | $648.4M |
| Real Estate operating expense | $1.5M | $1.7M | $1.6M | $1.7M |
| Total Segment Operating Expense | $620.6M | $663.1M | $413.4M | $650.0M |
| Depreciation and amortization | ($77.2M) | ($74.3M) | ($73.1M) | ($74.6M) |
| Gain on sale of real property | $400.0K | ($2.0M) | $13.0M | $7.9M |
| Change in estimated fair value of contingent consideration (Note 7) | ($13.5M) | $3.7M | ($4.6M) | ($1.9M) |
| (Loss) gain on disposal of fixed assets and other, net | ($118.0K) | ($3.2M) | ($2.8M) | $4.3M |
| Income from operations | $494.1M | $345.0M | ($209.8M) | $581.2M |
| Mountain equity investment income, net | $458.0K | ($1.2M) | $1.1M | $666.0K |
| Investment income and other, net | $2.6M | $3.5M | $3.0M | $3.2M |
| Foreign currency (loss) gain on intercompany loans | ($34.0K) | $197.0K | ($79.0K) | $1.7M |
| Interest expense, net | ($51.3M) | ($49.5M) | ($51.3M) | ($41.3M) |
| Income before provision for income taxes | $445.9M | $298.1M | ($257.1M) | $545.4M |
| Provision for income taxes | ($105.6M) | ($72.3M) | $60.6M | ($131.0M) |
| Net income | $340.2M | $225.8M | ($196.5M) | $414.3M |
| Net income attributable to noncontrolling interests | ($25.8M) | ($15.8M) | $9.7M | ($21.6M) |
| Net income attributable to Vail Resorts, Inc. | $314.4M | $210.0M | ($186.8M) | $392.8M |
| Basic net income per share attributable to Vail Resorts, Inc. | $8.82 | $5.87 | -$5.20 | $10.55 |
| Diluted net income per share attributable to Vail Resorts, Inc. | $8.81 | $5.87 | -$5.20 | $10.54 |
| Cash dividends declared per share | $2.22 | $2.22 | $2.22 | $2.22 |
| Line item | Jul 31, 2026 · FY | Jul 31, 2025 · FY | Jul 31, 2024 · FY | Jul 31, 2023 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $231.3M | $440.3M | $322.8M | $563.0M |
| Restricted cash | $15.7M | $16.1M | $14.2M | $10.1M |
| Short-term certificates of deposit | $37.1M | — | — | — |
| Accounts Receivable, after Allowance for Credit Loss, Current | $355.3M | $382.4M | $375.8M | $381.1M |
| Inventories, net of reserves | $134.6M | $117.2M | $119.0M | $132.5M |
| Other current assets | $102.4M | $93.8M | $79.6M | $121.4M |
| Total current assets | $876.5M | $1.0B | $911.4M | $1.2B |
| Property, plant and equipment, net (Note 8) | $2.3B | $2.4B | $2.4B | $2.4B |
| Real estate held for sale or investment | $67.0M | $87.9M | $86.5M | $90.2M |
| Goodwill, net (Note 8) | $1.7B | $1.7B | $1.7B | $1.7B |
| Intangible assets, net (Note 8) | $293.6M | $298.5M | $302.5M | $309.3M |
| Operating right-of-use assets (Note 4) | $221.9M | $242.5M | $256.6M | $192.3M |
| Other assets | $54.0M | $49.4M | $40.8M | $55.9M |
| Total assets | $5.5B | $5.8B | $5.7B | $5.9B |
| Accounts payable and accrued liabilities (Note 8) | $1.0B | $1.1B | $1.0B | $978.0M |
| Income taxes payable | $4.7M | $11.5M | $55.4M | $83.5M |
| Long-term debt due within one year (Note 6) | $83.9M | $599.5M | $57.2M | $69.2M |
| Total current liabilities | $1.1B | $1.7B | $1.1B | $1.1B |
| Long-term debt, net (Note 6) | $3.1B | $2.6B | $2.7B | $2.8B |
| Operating lease liabilities (Note 4) | $190.2M | $215.1M | $233.5M | $168.3M |
| Other long-term liabilities | $317.2M | $294.5M | $311.8M | $286.3M |
| Deferred income taxes, net (Note 10) | $262.2M | $252.0M | $279.8M | $276.1M |
| Total liabilities | $5.0B | $5.0B | $4.7B | $4.6B |
| Preferred stock, $0.01 par value, 25,000 shares authorized, no shares issued and outstanding | 0 | 0 | 0 | 0 |
| Common stock, $0.01 par value, 100,000 shares authorized and 47,018 and 46,945 shares issued, respectively | 470.0K | 469.0K | 469.0K | 468.0K |
| Additional paid-in capital | $1.2B | $1.2B | $1.1B | $1.1B |
| Accumulated other comprehensive loss | ($50.7M) | ($57.9M) | ($67.3M) | ($10.4M) |
| Retained earnings | $549.1M | $718.7M | $780.4M | $873.7M |
| Treasury stock, at cost; 11,383 and 11,060 shares, respectively (Note 13) | -1.5B | -1.4B | -1.1B | -984.3M |
| Total Vail Resorts, Inc. stockholders’ equity | $240.5M | $424.5M | $723.5M | $1.0B |
| Noncontrolling interests | $316.9M | $329.4M | $314.9M | $331.7M |
| Total stockholders’ equity | $557.4M | $753.9M | $1.0B | $1.3B |
| Total liabilities and stockholders’ equity | $5.5B | $5.8B | $5.7B | $5.9B |
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | $0.01 | $0.01 |
| Preferred stock, shares authorized | 25.0M | 25.0M | 25.0M | 25.0M |
| Preferred stock, shares outstanding | 0 | 0 | 0 | 0 |
| Preferred stock, shares issued | 0 | 0 | 0 | 0 |
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | $0.01 | $0.01 |
| Common stock, shares authorized | 100.0M | 100.0M | 100.0M | 100.0M |
| Common stock, shares issued | 47.0M | 46.9M | 46.9M | 46.8M |
| Treasury Stock, Common, Shares | 11.4M | 11.1M | 9.4M | 8.6M |
| Line item | Apr 30, 2026 | Jan 31, 2026 | Oct 31, 2025 | Apr 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $371.4M | $384.7M | $581.5M | $467.0M |
| Restricted cash | $15.9M | $21.1M | $19.1M | $13.8M |
| Accounts receivables, net (Note 6) | $356.9M | $160.0M | $97.5M | $335.9M |
| Inventories, net | $129.1M | $141.4M | $154.4M | $114.6M |
| Other current assets | $78.9M | $115.5M | $195.1M | $72.6M |
| Total current assets | $952.2M | $822.7M | $1.0B | $1.0B |
| Property, plant and equipment, net (Note 6) | $2.4B | $2.4B | $2.4B | $2.4B |
| Real estate held for sale or investment | $76.4M | $76.3M | $85.2M | $87.9M |
| Goodwill, net | $1.7B | $1.7B | $1.7B | $1.7B |
| Intangible assets, net | $299.5M | $300.1M | $296.0M | $300.0M |
| Operating right-of-use assets | $231.5M | $237.1M | $236.5M | $249.2M |
| Other assets | $52.0M | $51.9M | $53.4M | $51.8M |
| Total assets | $5.7B | $5.6B | $5.8B | $5.8B |
| Accounts payable and accrued liabilities (Note 6) | $895.0M | $1.2B | $1.3B | $940.9M |
| Income taxes payable | $76.2M | $13.9M | $923.0K | $101.4M |
| Long-term debt due within one year (Note 5) | $73.5M | $73.0M | $589.7M | $590.4M |
| Total current liabilities | $1.0B | $1.3B | $1.9B | $1.6B |
| Long-term debt, net (Note 5) | $2.9B | $2.9B | $2.6B | $2.1B |
| Operating lease liabilities | $198.4M | $211.9M | $211.2M | $220.3M |
| Other long-term liabilities | $312.5M | $297.9M | $300.0M | $288.5M |
| Deferred income taxes, net | $264.6M | $264.3M | $264.3M | $279.3M |
| Total liabilities | $4.8B | $5.0B | $5.3B | $4.5B |
| Preferred Stock, Par or Stated Value Per Share | $0.01 | $0.01 | $0.01 | $0.01 |
| Preferred stock, shares authorized | 25.0M | 25.0M | 25.0M | 25.0M |
| Preferred stock, shares issued | 0 | 0 | 0 | 0 |
| Preferred stock, shares outstanding | 0 | 0 | 0 | 0 |
| Preferred stock, $0.01 par value, 25,000 shares authorized, no shares issued and outstanding | 0 | 0 | 0 | 0 |
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | $0.01 | $0.01 |
| Common stock, shares authorized | 100.0M | 100.0M | 100.0M | 100.0M |
| Common stock, shares issued | 47.0M | 47.0M | 47.0M | 46.9M |
| Common stock, $0.01 par value, 100,000 shares authorized, 47,016, 46,945 and 46,925 shares issued, respectively | 470.0K | 470.0K | 470.0K | 469.0K |
| Additional paid-in capital | $1.2B | $1.2B | $1.2B | $1.2B |
| Accumulated other comprehensive loss | ($1.3M) | ($8.5M) | ($61.7M) | ($57.1M) |
| Retained earnings | $818.3M | $583.0M | $452.1M | $997.4M |
| Treasury stock, at cost, 11,383, 11,060 and 9,774 shares, respectively (Note 10) | -1.5B | -1.5B | -1.4B | — |
| Treasury Stock, Common, Shares | 11.4M | 11.4M | 11.1M | 9.8M |
| Total Vail Resorts, Inc. stockholders’ equity | $551.7M | $301.8M | $156.5M | $895.4M |
| Noncontrolling interests | $364.4M | $343.0M | $311.6M | $340.6M |
| Total stockholders’ equity | $916.1M | $644.8M | $468.0M | $1.2B |
| Total liabilities and stockholders’ equity | $5.7B | $5.6B | $5.8B | $5.8B |
| Line item | Jul 31, 2026 · FY | Jul 31, 2025 · FY | Jul 31, 2024 · FY | Jul 31, 2023 · FY |
|---|---|---|---|---|
| Net income | $170.7M | $298.0M | $246.3M | $285.1M |
| Depreciation and amortization | $305.6M | $296.4M | $276.5M | $268.5M |
| Stock-based compensation expense | $28.2M | $34.0M | $26.8M | $25.4M |
| Deferred income taxes, net | ($1.8M) | ($21.0M) | $12.1M | $24.1M |
| Loss (gain) on disposal of fixed assets and other, net | $6.8M | ($6.9M) | $9.6M | $9.1M |
| Change in estimated fair value of contingent consideration | $19.2M | $9.4M | $48.0M | $49.8M |
| Other non-cash income, net | ($12.1M) | ($29.0M) | ($7.8M) | ($4.7M) |
| Accounts receivables, net | $30.6M | ($6.7M) | $12.9M | $4.2M |
| Inventories, net | ($16.9M) | $1.2M | $13.2M | ($23.4M) |
| Accounts payable and accrued liabilities | $15.8M | $18.4M | $9.4M | ($7.5M) |
| Deferred revenue | ($39.6M) | $26.4M | $2.6M | $60.3M |
| Income taxes payable | ($12.0M) | ($36.3M) | ($42.8M) | ($32.3M) |
| Other assets and liabilities, net | ($15.0M) | ($29.0M) | ($20.0M) | ($19.1M) |
| Net cash provided by operating activities | $479.6M | $554.9M | $586.8M | $639.6M |
| Capital expenditures | ($231.6M) | ($235.2M) | ($211.2M) | ($314.9M) |
| Acquisition of businesses, net of cash acquired | $0 | $0 | ($94.4M) | ($38.6M) |
| Purchases of short-term certificates of deposit | $75.4M | $0 | $0 | ($86.8M) |
| Maturity of short-term certificates of deposit | $38.3M | $0 | $57.6M | $38.0M |
| Cash received from disposal of fixed assets | $2.5M | $12.4M | $337.0K | $5.7M |
| Other investing activities, net | $292.0K | $18.3M | $6.5M | $8.9M |
| Net cash used in investing activities | ($266.0M) | ($204.5M) | ($241.1M) | ($273.2M) |
| Proceeds from borrowings under 5.625% Notes | $0 | $500.0M | — | — |
| Proceeds from borrowings under 6.50% Notes | $0 | $0 | $600.0M | — |
| Proceeds from borrowings under Vail Holdings Credit Agreement | $669.1M | $350.0M | — | — |
| Repayments of borrowings under 6.25% Notes | $0 | $0 | ($600.0M) | — |
| Repurchases of 0.0% Convertible Notes | ($525.0M) | ($48.0M) | — | — |
| Repayments of borrowings under Vail Holdings Credit Agreement | ($156.5M) | ($399.2M) | ($55.9M) | ($62.5M) |
| Dividends paid | ($317.1M) | ($328.2M) | ($323.7M) | ($314.4M) |
| Repurchases of common stock | ($45.0M) | ($270.0M) | ($150.0M) | ($500.0M) |
| Employee taxes paid for share award exercises | ($4.2M) | ($8.0M) | ($5.6M) | ($5.5M) |
| Other financing activities, net | ($42.3M) | ($39.2M) | ($39.6M) | ($22.0M) |
| Net cash used in financing activities | ($421.0M) | ($242.6M) | ($574.8M) | ($915.7M) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | ($2.0M) | $11.6M | ($6.9M) | ($3.7M) |
| Net (decrease) increase in cash, cash equivalents and restricted cash | ($209.4M) | $119.4M | ($236.0M) | ($553.0M) |
| Beginning of period | $456.4M | $337.1M | $573.1M | $1.1B |
| End of period | $247.0M | $456.4M | $337.1M | $573.1M |
| Cash paid for interest | $186.3M | $156.4M | $146.6M | $140.6M |
| Taxes paid, net | $69.9M | $161.7M | $129.3M | $94.3M |
| Accrued capital expenditures | $27.9M | $25.8M | $24.9M | $23.2M |
| Line item | Apr 30, 2026 · YTD | Jan 31, 2026 · YTD | Oct 31, 2025 · Q1 | Apr 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $369.6M | $29.4M | ($196.5M) | $490.9M |
| Depreciation and amortization | $224.7M | $147.5M | $73.1M | $219.4M |
| Stock-based compensation expense | $20.6M | $13.2M | $6.2M | $21.2M |
| Provision for income taxes | $117.3M | $11.7M | ($60.6M) | $159.1M |
| Change in estimated fair value of contingent consideration | $14.4M | — | — | $4.1M |
| Other noncash income | ($7.1M) | — | ($3.6M) | ($36.9M) |
| Accounts receivables, net | $30.2M | $225.5M | $284.9M | $39.7M |
| Inventories, net | ($10.3M) | ($22.9M) | ($37.3M) | $3.8M |
| Accounts payable and accrued liabilities | $14.8M | $102.2M | ($20.2M) | $54.6M |
| Deferred revenue | ($142.3M) | $109.9M | $325.1M | ($107.0M) |
| Income taxes payable | ($44.5M) | ($19.7M) | ($19.0M) | ($110.9M) |
| Other assets and liabilities, net | ($4.8M) | ($23.9M) | ($36.2M) | ($11.6M) |
| Net cash provided by operating activities | $582.7M | $575.9M | $315.9M | $726.4M |
| Capital expenditures | ($181.6M) | ($146.6M) | ($71.7M) | ($179.3M) |
| Other investing activities, net | $2.7M | $583.0K | $0 | $23.8M |
| Net cash used in investing activities | ($178.9M) | ($146.0M) | ($71.7M) | ($155.5M) |
| Proceeds from borrowings under Vail Holdings Credit Agreement | $389.1M | $275.0M | — | — |
| Repayment of 0.0% Convertible Notes | ($525.0M) | ($525.0M) | — | $48.0M |
| Repayments of borrowings under Vail Holdings Credit Agreement | ($40.5M) | ($24.6M) | ($12.3M) | ($36.9M) |
| Employee taxes paid for share award exercises | ($4.1M) | ($4.1M) | ($3.9M) | ($6.0M) |
| Dividends paid | ($238.0M) | ($158.9M) | ($79.8M) | ($248.5M) |
| Repurchases of common stock | ($45.0M) | ($45.0M) | $0 | ($70.0M) |
| Other financing activities, net | ($23.7M) | ($10.6M) | ($5.0M) | ($28.2M) |
| Net cash used in financing activities | ($487.3M) | ($493.2M) | ($101.0M) | ($437.5M) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | $14.4M | $12.7M | $877.0K | $10.3M |
| Net (decrease) increase in cash, cash equivalents and restricted cash | ($69.1M) | ($50.6M) | $144.2M | $143.7M |
| Beginning of period | $456.4M | $456.4M | $456.4M | $337.1M |
| End of period | $387.3M | $405.8M | $600.6M | $480.8M |
| Accrued capital expenditures | $12.5M | $11.9M | $29.4M | $19.7M |
Vail Resorts Inc. score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.