Vail Resorts
Market Cap
US$9.9b
Last Updated
2020/02/20 00:43 UTC
Data Sources
Company Financials +
Executive Summary
Vail Resorts, Inc., through its subsidiaries, operates mountain resorts and urban ski areas in the United States.
Rewards
Risk Analysis
Dividend of 2.84% is not well covered by earnings or forecast to be in the next 3 years
Snowflake Analysis
Acceptable track record with imperfect balance sheet.
Similar Companies
Share Price & News
How has Vail Resorts's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: MTN has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-1.0%
MTN
-1.2%
US Hospitality
0.06%
US Market
1 Year Return
18.3%
MTN
6.0%
US Hospitality
19.4%
US Market
Return vs Industry: MTN exceeded the US Hospitality industry which returned 6% over the past year.
Return vs Market: MTN underperformed the US Market which returned 19.4% over the past year.
Shareholder returns
| MTN | Industry | Market | |
|---|---|---|---|
| 7 Day | -1.0% | -1.2% | 0.06% |
| 30 Day | -1.8% | -5.0% | 1.1% |
| 90 Day | 3.8% | 7.0% | 8.9% |
| 1 Year | 22.0%18.3% | 8.7%6.0% | 21.9%19.4% |
| 3 Year | 47.1%36.3% | 35.7%26.8% | 48.9%39.3% |
| 5 Year | 217.8%181.4% | 47.7%32.2% | 71.9%53.1% |
Price Volatility Vs. Market
How volatile is Vail Resorts's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 day ago | Simply Wall St
Are Insiders Selling Vail Resorts, Inc. (NYSE:MTN) Stock?1 week ago | Simply Wall St
Is Vail Resorts, Inc. (NYSE:MTN) A High Quality Stock To Own?3 weeks ago | Simply Wall St
How Has Vail Resorts, Inc.'s (NYSE:MTN) Earnings Fared Against The Long Term TrendValuation
Is Vail Resorts undervalued compared to its fair value and its price relative to the market?
32.71x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: MTN ($248.2) is trading above our estimate of fair value ($206.36)
Significantly Below Fair Value: MTN is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: MTN is poor value based on its PE Ratio (33.1x) compared to the Hospitality industry average (24x).
PE vs Market: MTN is poor value based on its PE Ratio (33.1x) compared to the US market (18.3x).
Price to Earnings Growth Ratio
PEG Ratio: MTN is poor value based on its PEG Ratio (4.6x)
Price to Book Ratio
PB vs Industry: MTN is overvalued based on its PB Ratio (7.7x) compared to the US Hospitality industry average (2.2x).
Next Steps
Future Growth
How is Vail Resorts forecast to perform in the next 1 to 3 years based on estimates from 11 analysts?
7.2%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: MTN's forecast earnings growth (7.2% per year) is above the savings rate (1.7%).
Earnings vs Market: MTN's earnings (7.2% per year) are forecast to grow slower than the US market (14.2% per year).
High Growth Earnings: MTN's earnings are forecast to grow, but not significantly.
Revenue vs Market: MTN's revenue (3.4% per year) is forecast to grow slower than the US market (7.6% per year).
High Growth Revenue: MTN's revenue (3.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: MTN's Return on Equity is forecast to be low in 3 years time (18.3%).
Next Steps
Past Performance
How has Vail Resorts performed over the past 5 years?
27.8%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MTN has high quality earnings.
Growing Profit Margin: MTN's current net profit margins (13%) are lower than last year (14.9%).
Past Earnings Growth Analysis
Earnings Trend: MTN's earnings have grown significantly by 27.8% per year over the past 5 years.
Accelerating Growth: MTN's earnings growth over the past year (0.7%) is below its 5-year average (27.8% per year).
Earnings vs Industry: MTN earnings growth over the past year (0.7%) exceeded the Hospitality industry -9.8%.
Return on Equity
High ROE: Whilst MTN's Return on Equity (21.31%) is high, this metric is skewed due to their high level of debt.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Vail Resorts's financial position?
Financial Position Analysis
Short Term Liabilities: MTN's short term assets ($428.3M) do not cover its short term liabilities ($971.5M).
Long Term Liabilities: MTN's short term assets ($428.3M) do not cover its long term liabilities ($2.7B).
Debt to Equity History and Analysis
Debt Level: MTN's debt to equity ratio (113.4%) is considered high.
Reducing Debt: MTN's debt to equity ratio has increased from 107.7% to 113.4% over the past 5 years.
Debt Coverage: MTN's debt is well covered by operating cash flow (38.6%).
Interest Coverage: MTN's interest payments on its debt are well covered by EBIT (6x coverage).
Balance Sheet
Inventory Level: MTN has a high level of physical assets or inventory.
Debt Coverage by Assets: MTN's debt is not covered by short term assets (assets are 0.2x debt).
Next Steps
Dividend
What is Vail Resorts's current dividend yield, its reliability and sustainability?
2.87%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: MTN's dividend (2.84%) is higher than the bottom 25% of dividend payers in the US market (1.43%).
High Dividend: MTN's dividend (2.84%) is low compared to the top 25% of dividend payers in the US market (3.7%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, MTN has been paying a dividend for less than 10 years.
Growing Dividend: MTN's dividend payments have increased, but the company has only paid a dividend for 9 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (93.8%), MTN's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: MTN's dividends in 3 years are not forecast to be well covered by earnings (95.1% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
4.2yrs
Average management tenure
CEO
Rob Katz (52yo)
14yrs
Tenure
US$3,624,696
Compensation
Mr. Robert A. Katz, also known as Rob, has been the Chief Executive Officer at Vail Resorts Inc., since February 28, 2006. Mr. Katz has been the Chairman of the Board of Rockresorts International LLC and V ...
CEO Compensation Analysis
Compensation vs Market: Rob's total compensation ($USD3.62M) is below average for companies of similar size in the US market ($USD10.78M).
Compensation vs Earnings: Rob's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 14yrs | US$3.62m | 0.71% $69.8m | |
| Executive VP & CFO | 6.8yrs | US$2.32m | 0.038% $3.8m | |
| Executive VP | 4.6yrs | US$1.71m | 0.0032% $316.7k | |
| Executive VP & Chief Marketing Officer | 8.6yrs | US$2.32m | 0.043% $4.3m | |
| President of Mountain Division | 4.5yrs | US$2.32m | 0.037% $3.6m | |
| Chief Accounting Officer | 3.8yrs | no data | 0.00060% $59.4k | |
| Senior VP & Chief Information Officer | 1.3yrs | no data | no data | |
| Chief Human Resources Officer & Executive VP | 2.8yrs | no data | no data | |
| Senior Vice President of Mountain Division - Whistler Blackcomb | 0.4yrs | no data | no data | |
| Senior Vice President of Mountain Division - Colorado & Utah | 0.4yrs | no data | no data |
4.2yrs
Average Tenure
50yo
Average Age
Experienced Management: MTN's management team is considered experienced (4.2 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 14yrs | US$3.62m | 0.71% $69.8m | |
| Independent Director | 4.4yrs | US$297.14k | 0.012% $1.1m | |
| Independent Director | 11.9yrs | US$305.63k | 0.045% $4.4m | |
| Independent Director | 9.9yrs | US$290.07k | 0.047% $4.6m | |
| Independent Director | 27.1yrs | US$335.07k | 0.12% $11.5m | |
| Lead Independent Director | 0.7yrs | US$321.98k | 0.041% $4.0m | |
| Independent Director | 6.7yrs | US$294.07k | 0.020% $2.0m | |
| Independent Director | 3.3yrs | US$317.35k | 0.0076% $757.1k | |
| Director | 0.2yrs | no data | no data |
6.7yrs
Average Tenure
57yo
Average Age
Experienced Board: MTN's board of directors are considered experienced (6.7 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Vail Resorts, Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Vail Resorts, Inc.
- Ticker: MTN
- Exchange: NYSE
- Founded: 1997
- Industry: Leisure Facilities
- Sector: Consumer Services
- Market Cap: US$9.897b
- Shares outstanding: 40.31m
- Website: https://www.vailresorts.com
Number of Employees
Location
- Vail Resorts, Inc.
- 390 Interlocken Crescent
- Broomfield
- Colorado
- 80021
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| MTN | NYSE (New York Stock Exchange) | Yes | Common Stock | US | USD | Feb 1997 |
| VAI | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Feb 1997 |
| 0LK3 | LSE (London Stock Exchange) | Yes | Common Stock | GB | USD | Feb 1997 |
| MTN * | BMV (Bolsa Mexicana de Valores) | Yes | Common Stock | MX | MXN | Feb 1997 |
Biography
Vail Resorts, Inc., through its subsidiaries, operates mountain resorts and urban ski areas in the United States. Its Mountain segment operates Vail Mountain, Breckenridge Ski, Keystone, Beaver Creek, and Crested Butte Mountain resorts in Colorado; Heavenly Mountain, Northstar, and Kirkwood Mountain resorts in the Lake Tahoe area of California and Nevada; Mount Sunapee Resort in New Hampshire; Park City resort in Utah; Stowe and Okemo Mountain Resort in Vermont; and Stevens Pass Mountain Resort in Washington. This segment also operates Whistler Blackcomb in Canada; and Perisher Ski Resort, and Falls Creek and Hotham Alpine Resort in Australia, as well as 3 urban ski areas, such as Afton Alps in Minnesota, Mount Brighton in Michigan, and Wilmot Mountain in Wisconsin. Its resorts offer various winter and summer recreational activities, including skiing, snowboarding, snowshoeing, snowtubing, sightseeing, mountain biking, guided hiking, zip lines, challenge ropes courses, alpine slides and mountain coasters, children's activities, and other recreational activities; and ski and snowboard lessons, equipment rental and retail merchandise services, dining venues, private club operations, and other winter and summer recreational activities. This segment also leases its owned and leased commercial space to third party operators; and provides real estate brokerage services. The company’s Lodging segment owns and/or manages various luxury hotels and condominiums under the RockResorts brand, and other lodging properties; various condominiums located in proximity to the company’s mountain resorts; destination resorts; and golf courses, as well as offers resort ground transportation services. This segment operates approximately 5,500 owned and managed hotel and condominium units. Its Real Estate segment owns, develops, and sells real estate properties in and around the company’s resort communities. The company was founded in 1997 and is based in Broomfield, Colorado.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/02/20 00:43 |
| End of Day Share Price | 2020/02/19 00:00 |
| Earnings | 2019/10/31 |
| Annual Earnings | 2019/07/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.