Vail Resorts
- Home ›
- US ›
- Consumer Services
Vail Resorts, Inc., through its subsidiaries, operates mountain resorts and urban ski areas in the United States. The last earnings update was 46 days ago. More info.
Add to Portfolio Compare Print
MTN Share Price and Events
7 Day Returns
1 Year Returns
MTN Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Vail Resorts (MTN) | 2.9% | 2.1% | 10.5% | -18% | 63% | 208% |
| US Hospitality | -1.6% | 1.7% | -2.5% | -5.2% | 40.6% | 20.6% |
| US Market | -1.2% | 0.8% | 0.9% | 3.3% | 35.9% | 41.7% |
1 Year Return vs Industry and Market
- MTN underperformed the Hospitality industry which returned -5.2% over the past year.
- MTN underperformed the Market in United States of America which returned 3.3% over the past year.
MTN Value
Is Vail Resorts undervalued based on future cash flows and its price relative to the stock market?
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Vail Resorts
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Vail Resorts.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 11 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 8.8% |
| Perpetual Growth Rate | 10-Year US Government Bond Rate | 2.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 6% |
| Hospitality Unlevered Beta | Simply Wall St/ S&P Global | 0.92 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.921 (1 + (1- 21%) (14.35%)) |
1.017 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.02 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.017 * 5.96%) |
8.79% |
Discounted Cash Flow Calculation for NYSE:MTN using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Vail Resorts is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (USD, Millions) | Source |
Present Value Discounted (@ 8.79%) |
|
|---|---|---|---|
| 2020 | 525.75 | Analyst x5 | 483.25 |
| 2021 | 548.42 | Analyst x3 | 463.35 |
| 2022 | 569.13 | Est @ 3.78% | 441.98 |
| 2023 | 588.83 | Est @ 3.46% | 420.32 |
| 2024 | 607.93 | Est @ 3.24% | 398.87 |
| 2025 | 626.70 | Est @ 3.09% | 377.96 |
| 2026 | 645.39 | Est @ 2.98% | 357.77 |
| 2027 | 664.14 | Est @ 2.91% | 338.40 |
| 2028 | 683.09 | Est @ 2.85% | 319.93 |
| 2029 | 702.33 | Est @ 2.82% | 302.35 |
| Present value of next 10 years cash flows | $3,904.17 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2029
× (1 + g) ÷ (Discount Rate – g)
= $702.33 × (1 + 2.73%) ÷ (8.79% – 2.73%) |
$11,898.98 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $11,898.98 ÷ (1 + 8.79%)10 |
$5,122.46 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $3,904.17 + $5,122.46 |
$9,026.63 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $9,026.63 / 40.26 |
$224.23 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $224.23 |
| Current discount | Discount to share price of
$235.27
= -1 x ($235.27 - $224.23) / $224.23 |
-4.9% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of Vail Resorts is above its future cash flow value.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Vail Resorts's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Vail Resorts's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-04-30) in USD | $7.60 |
| NYSE:MTN Share Price ** | NYSE (2019-07-22) in USD | $235.27 |
| United States of America Hospitality Industry PE Ratio | Median Figure of 74 Publicly-Listed Hospitality Companies | 22.4x |
| United States of America Market PE Ratio | Median Figure of 3,082 Publicly-Listed Companies | 17.86x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Vail Resorts.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NYSE:MTN Share Price ÷ EPS (both in USD) = 235.27 ÷ 7.60 |
30.95x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Vail Resorts is overvalued based on earnings compared to the US Hospitality industry average.
- Vail Resorts is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does
Vail Resorts's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 30.95x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts |
9.1%per year |
| United States of America Hospitality Industry PEG Ratio | Median Figure of 56 Publicly-Listed Hospitality Companies | 1.88x |
| United States of America Market PEG Ratio | Median Figure of 2,119 Publicly-Listed Companies | 1.57x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 30.95x ÷ 9.1% |
3.39x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Vail Resorts is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Vail Resorts's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-04-30) in USD | $41.39 |
| NYSE:MTN Share Price * | NYSE (2019-07-22) in USD | $235.27 |
| United States of America Hospitality Industry PB Ratio | Median Figure of 112 Publicly-Listed Hospitality Companies | 2.16x |
| United States of America Market PB Ratio | Median Figure of 5,248 Publicly-Listed Companies | 1.79x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NYSE:MTN Share Price ÷ Book Value per Share (both in USD) = 235.27 ÷ 41.39 |
5.68x |
* Primary Listing of Vail Resorts.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Vail Resorts is overvalued based on assets compared to the US Hospitality industry average.
Value checks
We assess Vail Resorts's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Hospitality industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Hospitality industry average (and greater than 0)? (1 check) Vail Resorts has a total score of 0/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
MTN Future Performance
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Vail Resorts's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
- Vail Resorts's earnings growth is positive but not above the United States of America market average.
- Vail Resorts's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NYSE:MTN Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts | 9.1% |
| NYSE:MTN Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts | 5.3% |
| United States of America Hospitality Industry Earnings Growth Rate | Market Cap Weighted Average | 17.1% |
| United States of America Hospitality Industry Revenue Growth Rate | Market Cap Weighted Average | 7.5% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 14% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.4% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 11 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2022-07-31 | 2,654 | 385 | 1 | |
| 2021-07-31 | 2,519 | 709 | 353 | 6 |
| 2020-07-31 | 2,422 | 679 | 327 | 11 |
| 2019-07-31 | 2,268 | 643 | 290 | 11 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-04-30 | 2,239 | 637 | 307 |
| 2019-01-31 | 2,126 | 624 | 271 |
| 2018-10-31 | 2,011 | 573 | 300 |
| 2018-07-31 | 2,012 | 552 | 380 |
| 2018-04-30 | 2,009 | 560 | 406 |
| 2018-01-31 | 1,959 | 577 | 331 |
| 2017-10-31 | 1,950 | 572 | 245 |
| 2017-07-31 | 1,907 | 473 | 211 |
| 2017-04-30 | 1,878 | 466 | 202 |
| 2017-01-31 | 1,731 | 447 | 179 |
| 2016-10-31 | 1,605 | 409 | 147 |
| 2016-07-31 | 1,601 | 437 | 150 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 11 Analyst Estimates (S&P Global) | See Below |
All data from Vail Resorts Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2022-07-31 | 9.46 | 9.46 | 9.46 | 1.00 |
| 2021-07-31 | 8.63 | 8.80 | 8.15 | 5.00 |
| 2020-07-31 | 8.07 | 8.77 | 7.33 | 10.00 |
| 2019-07-31 | 7.10 | 7.62 | 6.65 | 10.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2019-04-30 | 7.60 |
| 2019-01-31 | 6.71 |
| 2018-10-31 | 7.42 |
| 2018-07-31 | 9.40 |
| 2018-04-30 | 10.08 |
| 2018-01-31 | 8.24 |
| 2017-10-31 | 6.10 |
| 2017-07-31 | 5.36 |
| 2017-04-30 | 5.29 |
| 2017-01-31 | 4.80 |
| 2016-10-31 | 4.04 |
| 2016-07-31 | 4.13 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Vail Resorts's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Vail Resorts has a total score of 2/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
MTN Past Performance
How has Vail Resorts performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Vail Resorts has delivered over 20% year on year earnings growth in the past 5 years.
- Vail Resorts's 1-year earnings growth is negative, it can't be compared to the 5-year average.
- Vail Resorts's 1-year earnings growth is negative, it can't be compared to the US Hospitality industry average.
Earnings and Revenue History
All data from Vail Resorts Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-04-30 | 2,239.21 | 307.03 | 266.98 | |
| 2019-01-31 | 2,125.71 | 271.15 | 264.95 | |
| 2018-10-31 | 2,010.71 | 300.49 | 258.32 | |
| 2018-07-31 | 2,011.55 | 379.90 | 251.81 | |
| 2018-04-30 | 2,009.04 | 406.41 | 245.78 | |
| 2018-01-31 | 1,959.18 | 331.27 | 243.43 | |
| 2017-10-31 | 1,949.80 | 244.76 | 243.91 | |
| 2017-07-31 | 1,907.22 | 210.55 | 236.80 | |
| 2017-04-30 | 1,877.98 | 202.43 | 232.54 | |
| 2017-01-31 | 1,730.82 | 178.95 | 224.95 | |
| 2016-10-31 | 1,604.98 | 146.75 | 213.17 | |
| 2016-07-31 | 1,601.29 | 149.75 | 208.99 | |
| 2016-04-30 | 1,583.48 | 144.89 | 200.79 | |
| 2016-01-31 | 1,515.36 | 120.66 | 190.33 | |
| 2015-10-31 | 1,446.23 | 119.44 | 183.29 | |
| 2015-07-31 | 1,399.92 | 114.75 | 179.75 | |
| 2015-04-30 | 1,373.33 | 109.54 | 169.37 | |
| 2015-01-31 | 1,337.03 | 94.08 | 165.21 | |
| 2014-10-31 | 1,259.52 | 37.58 | 158.70 | |
| 2014-07-31 | 1,254.65 | 28.48 | 155.70 | |
| 2014-04-30 | 1,231.46 | 43.97 | 156.91 | |
| 2014-01-31 | 1,158.11 | 23.66 | 154.43 | |
| 2013-10-31 | 1,127.84 | 24.95 | 150.59 | |
| 2013-07-31 | 1,120.80 | 37.74 | 134.75 | |
| 2013-04-30 | 1,122.04 | 43.81 | 144.26 | |
| 2013-01-31 | 1,073.49 | 25.74 | 140.58 | |
| 2012-10-31 | 1,024.37 | 11.58 | 137.86 | |
| 2012-07-31 | 1,024.39 | 16.45 | 136.76 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- Vail Resorts has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Vail Resorts used its assets more efficiently than the US Hospitality industry average last year based on Return on Assets.
- Vail Resorts's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Vail Resorts's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Hospitality industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Vail Resorts has a total score of 2/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
MTN Health
How is Vail Resorts's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Vail Resorts's finances.
The net worth of a company is the difference between its assets and liabilities.
- Vail Resorts's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
- Vail Resorts's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is not covered by short term assets, assets are 0.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Vail Resorts Company Filings, last reported 2 months ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-04-30 | 1,893.35 | 1,359.37 | 59.64 |
| 2019-01-31 | 1,683.10 | 1,393.76 | 158.56 |
| 2018-10-31 | 1,549.80 | 1,199.50 | 141.03 |
| 2018-07-31 | 1,811.66 | 938.22 | 178.15 |
| 2018-04-30 | 2,004.12 | 1,116.45 | 181.60 |
| 2018-01-31 | 1,880.78 | 1,220.78 | 235.46 |
| 2017-10-31 | 1,609.41 | 1,300.75 | 140.40 |
| 2017-07-31 | 1,798.96 | 943.64 | 117.39 |
| 2017-04-30 | 1,788.27 | 1,206.60 | 195.82 |
| 2017-01-31 | 1,680.57 | 1,255.10 | 140.91 |
| 2016-10-31 | 1,526.80 | 1,410.15 | 106.75 |
| 2016-07-31 | 888.47 | 700.26 | 67.90 |
| 2016-04-30 | 979.54 | 629.18 | 68.57 |
| 2016-01-31 | 854.52 | 695.54 | 45.37 |
| 2015-10-31 | 756.65 | 830.38 | 39.61 |
| 2015-07-31 | 880.59 | 814.50 | 35.46 |
| 2015-04-30 | 977.47 | 636.75 | 125.21 |
| 2015-01-31 | 863.46 | 635.94 | 36.58 |
| 2014-10-31 | 758.69 | 820.26 | 29.84 |
| 2014-07-31 | 834.80 | 626.62 | 44.41 |
| 2014-04-30 | 921.12 | 800.10 | 307.43 |
| 2014-01-31 | 814.06 | 799.28 | 205.28 |
| 2013-10-31 | 758.55 | 798.07 | 114.23 |
| 2013-07-31 | 837.87 | 796.92 | 138.60 |
| 2013-04-30 | 902.73 | 489.76 | 237.74 |
| 2013-01-31 | 810.10 | 490.30 | 136.58 |
| 2012-10-31 | 752.43 | 490.37 | 43.99 |
| 2012-07-31 | 816.33 | 490.77 | 46.05 |
- Vail Resorts's level of debt (71.8%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has been reduced over the past 5 years (86.7% vs 71.8% today).
- Debt is well covered by operating cash flow (46.8%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 6.9x coverage).
Financial health checks
We assess Vail Resorts's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Vail Resorts has a total score of 3/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
MTN Dividends
What is Vail Resorts's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
$2,000 of
Vail Resorts
shares you are expected to receive
$60
in your first year as a dividend.
Dividend Amount
- Vail Resorts's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
- Vail Resorts's dividend is below the markets top 25% of dividend payers in United States of America (3.78%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 11 Analyst Estimates (S&P Global) | See Below |
| United States of America Hospitality Industry Average Dividend Yield | Market Cap Weighted Average of 47 Stocks | 2.7% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 2017 Stocks | 2.4% |
| United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.8% |
| United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.4% |
| United States of America Top 25% Dividend Yield | 75th Percentile | 3.8% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2022-07-31 | 11.15 | 1.00 |
| 2021-07-31 | 8.25 | 4.00 |
| 2020-07-31 | 7.42 | 7.00 |
| 2019-07-31 | 6.46 | 7.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-06-06 | 7.040 | 3.079 |
| 2019-03-08 | 7.040 | 3.231 |
| 2018-12-07 | 5.880 | 2.872 |
| 2018-09-28 | 5.880 | 2.298 |
| 2018-06-07 | 5.880 | 2.060 |
| 2018-03-08 | 5.880 | 2.540 |
| 2017-12-07 | 4.212 | 1.941 |
| 2017-09-28 | 4.212 | 1.868 |
| 2017-06-08 | 4.212 | 1.964 |
| 2017-03-10 | 4.212 | 2.144 |
| 2016-12-09 | 3.240 | 1.899 |
| 2016-09-26 | 3.240 | 2.056 |
| 2016-06-09 | 3.240 | 2.182 |
| 2016-03-10 | 3.240 | 2.491 |
| 2015-12-07 | 2.490 | 1.993 |
| 2015-09-28 | 2.490 | 2.207 |
| 2015-06-08 | 2.490 | 2.305 |
| 2015-03-12 | 2.490 | 2.427 |
| 2014-12-08 | 1.660 | 1.876 |
| 2014-09-24 | 1.660 | 1.939 |
| 2014-06-05 | 1.660 | 2.126 |
| 2014-03-12 | 1.660 | 2.421 |
| 2013-12-09 | 0.830 | 1.156 |
| 2013-09-27 | 0.830 | 1.163 |
| 2013-06-06 | 0.830 | 1.249 |
| 2013-03-06 | 0.830 | 1.338 |
| 2012-12-04 | 0.750 | 1.388 |
| 2012-09-25 | 0.750 | 1.332 |
| 2012-06-06 | 0.750 | 1.489 |
| 2012-03-06 | 0.750 | 1.745 |
| 2011-12-07 | 0.600 | 1.411 |
| 2011-09-22 | 0.600 | 1.428 |
| 2011-06-09 | 0.600 | 1.444 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Whilst dividend payments have been stable, Vail Resorts has been paying a dividend for less than 10 years.
- Dividend payments have increased, but Vail Resorts only paid a dividend in the past 8 years.
Income/ dividend checks
We assess Vail Resorts's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Vail Resorts afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Vail Resorts has a total score of 2/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
MTN Management
CEO
| COMPENSATION | $3,378,398 |
| AGE | 52 |
| TENURE AS CEO | 13.4 years |
CEO Bio
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 Vail Resorts Lodging Company since March 2009 and has also been its Interim President since June 19, 2009. Mr. Katz served as the Chief Executive Officer at Vail Resorts Lodging Company and its Interim President since June 19, 2009. He has been the Chairman at Vail Resorts Inc. since March 2009. He has been an Executive Director of Vail Resorts Inc. since June 1999 and its Director since June 1996. He served as a Lead Director at Vail Resorts Inc. from June 2003 to February 2006. He oversees operations of RockResorts and Vail Resorts Lodging Company. Mr. Katz served as an Interim Head of Lodging Division of Vail Resorts Inc. He was associated with Apollo Management L.P. and served as its Senior Partner. He also serves as the Principal of Apollo Advisors L.P. He has been associated with Apollo Advisors since 1990. He was an Investment Banking Professional of Citigroup CIB and served as an Associate of New Street Capital Corporation. He serves as a Director of SpectraSite Inc., United Agri Products Inc., and Clark Retail Group Inc. He served as the Chairman of Ipcs Inc. from July 1, 2005 to November 2, 2006. He served as a Director of Horizon PCS Inc. from September 2000 to August 2003 and again from September 2004 to July 2005. He served as a Director of Ipcs Inc., until November 2, 2006 and Clark Brands, LLC. He served as a Director of Salant Corporation, Aris Industries Inc., Vinciv Corporation and Perry Ellis Menswear, LLC. He served as Director of Quality Distribution Inc. since June 1998. Mr. Katz received a Bachelor of Science in Economics from the University of Pennsylvania.
CEO Compensation
- Rob's compensation has been consistent with company performance over the past year, both up more than 20%.
- Rob's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure
Average tenure and age of the Vail Resorts management team in years:
- The average tenure for the Vail Resorts management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team
Rob Katz
Chairman & CEO
$3M
52
13.4 yrs
Michael Barkin
Executive VP & CFO
$2M
41
6.3 yrs
David Shapiro
Executive VP
$1M
49
4 yrs
Kirsten Lynch
Executive VP & Chief Marketing Officer
$2M
51
8 yrs
Pat Campbell
President of Mountain Division
$2M
56
3.9 yrs
Ryan Siurek
Chief Accounting Officer
47
3.3 yrs
Timothy April
Senior VP & Chief Information Officer
0.8 yrs
Lynanne Kunkel
Chief Human Resources Officer & Executive VP
2.2 yrs
Chris Jarnot
Executive Vice President of Mountain Division
52
13.4 yrs
James O'Donnell
Executive Vice President of Hospitality
49
7.5 yrs
Board of Directors Tenure
Average tenure and age of the Vail Resorts board of directors in years:
- The tenure for the Vail Resorts board of directors is about average.
Board of Directors
John Sorte
Independent Director
$328K
72
26.5 yrs
Rob Katz
Chairman & CEO
$3M
52
10.3 yrs
D. Sewell
Independent Director
$296K
61
6.5 yrs
Sue Decker
Independent Director
$271K
56
3.8 yrs
Roland Hernandez
Lead Independent Director
$341K
61
10.3 yrs
John Redmond
Independent Director
$286K
60
11.3 yrs
Hilary Schneider
Independent Director
$271K
58
9.3 yrs
Peter Vaughn
Independent Director
$271K
55
6.1 yrs
Michele Romanow
Independent Director
$281K
34
2.8 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 12. Jun 19 | Sell | Patricia Campbell | Individual | 11. Jun 19 | 11. Jun 19 | -13,556 | $232.97 | $-3,139,924 | ||
| 20. Mar 19 | Sell | Peter Vaughn | Individual | 18. Mar 19 | 18. Mar 19 | -1,000 | $216.47 | $-216,470 | ||
| 18. Mar 19 | Sell | David Shapiro | Individual | 14. Mar 19 | 14. Mar 19 | -5,312 | $214.83 | $-1,134,171 | ||
| 13. Dec 18 | Sell | John Sorte | Individual | 12. Dec 18 | 12. Dec 18 | -2,134 | $240.35 | $-512,203 | ||
| 10. Oct 18 | Sell | Peter Vaughn | Individual | 04. Oct 18 | 04. Oct 18 | -400 | $254.59 | $-101,835 | ||
Management checks
We assess Vail Resorts's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Vail Resorts has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
MTN News
Simply Wall St News
Should You Worry About Vail Resorts, Inc.'s (NYSE:MTN) CEO Pay?
First, this article will compare CEO compensation with compensation at similar sized companies. … See our latest analysis for Vail Resorts How Does Rob Katz's Compensation Compare With Similar Sized Companies? … A first glance this seems like a real positive for shareholders, since Rob Katz is paid less than the average total compensation paid by similar sized companies.
Simply Wall St - – Full articleIntroducing Vail Resorts (NYSE:MTN), The Stock That Zoomed 183% In The Last Five Years
During five years of share price growth, Vail Resorts achieved compound earnings per share (EPS) growth of 44% per year. … As well as measuring the share price return, investors should also consider the total shareholder return (TSR). … As it happens, Vail Resorts's TSR for the last 5 years was 219%, which exceeds the share price return mentioned earlier.
Simply Wall St - – Full articleShould You Buy Vail Resorts, Inc. (NYSE:MTN) For Its Dividend?
(NYSE:MTN) from a dividend investor's perspective. Owning a strong business and reinvesting the dividends is widely seen as an attractive way of growing your wealth. Yet sometimes, investors buy a popular dividend stock because of its yield, and then lose money if the company's dividend doesn't live up to expectations. Investors might not know much about Vail Resorts's dividend prospects, even though it has been paying dividends for the last eight years and offers a 3.0% yield. A low yield is generally a turn-off, but if the prospects for earnings growth were strong, investors might be pleasantly surprised by the long-term results. The company also bought back stock during the year, equivalent to approximately 1.3% of the company's market capitalisation at the time. Before you buy any stock for its dividend however, you should always remember Warren Buffett's two rules: 1) Don't lose money, and 2) Remember rule #1. … Strong earnings per share (EPS) growth might encourage our interest in the company despite fluctuating dividends, which is why it's great to see Vail Resorts has grown its earnings per share at 49% per annum over the past five years. Vail Resorts earnings have been growing very quickly recently, but given that it is paying out more than half of its earnings, we wonder if it will have enough capital to fund further growth in the future. Conclusion Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing. … Ultimately, Vail Resorts comes up short on our dividend analysis.
Simply Wall St - – Full articleIs Vail Resorts, Inc.'s (NYSE:MTN) 17% ROE Better Than Average?
The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Vail Resorts: 17% = US$271m ÷ US$1.7b (Based on the trailing twelve months to January 2019.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … How Does Debt Impact Return On Equity? … Combining Vail Resorts's Debt And Its 17% Return On Equity While Vail Resorts does have some debt, with debt to equity of just 0.83, we wouldn't say debt is excessive.
Simply Wall St - – Full articleEstimating The Intrinsic Value Of Vail Resorts, Inc. (NYSE:MTN)
We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. … A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, and so the sum of these future cash flows is then discounted to today's value: 10-year free cash flow (FCF) forecast 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF ($, Millions) $446.93 $496.33 $533.00 $561.28 $586.72 $610.14 $632.18 $653.35 $674.01 $694.45 Growth Rate Estimate Source Analyst x4 Analyst x4 Analyst x2 Est @ 5.3% Est @ 4.53% Est @ 3.99% Est @ 3.61% Est @ 3.35% Est @ 3.16% Est @ 3.03% Present Value ($, Millions) Discounted @ 8.82% $410.72 $419.16 $413.67 $400.32 $384.56 $367.52 $349.95 $332.36 $315.10 $298.35 Present Value of 10-year Cash Flow (PVCF)= $3.69b "Est" = FCF growth rate estimated by Simply Wall St We now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. … NYSE:MTN Intrinsic value, May 27th 2019 The assumptions Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows.
Simply Wall St - – Full articleHow Much Are Vail Resorts, Inc. (NYSE:MTN) Insiders Taking Off The Table?
We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … While insider selling is not a positive sign, we can't be sure if it does mean insiders think the shares are fully valued, so it's only a weak sign
Simply Wall St - – Full articleWill Vail Resorts, Inc.'s (NYSE:MTN) Earnings Grow In The Next 12 Months?
After Vail Resorts, Inc.'s (NYSE:MTN) earnings announcement in January 2019,. … analyst forecasts seem fairly subdued, … the higher past 5-year average growth rate of 39%
Simply Wall St - – Full articleHow Financially Strong Is Vail Resorts, Inc. (NYSE:MTN)?
Small-cap and large-cap companies receive a lot of attention from investors, but mid-cap stocks like Vail Resorts, Inc. … Despite this, the two other categories have lagged behind the risk-adjusted returns of commonly ignored mid-cap stocks. … Today we will look at MTN’s financial liquidity and debt levels, which are strong indicators for whether the company can weather economic downturns or fund strategic acquisitions for future growth.
Simply Wall St - – Full articleIs Vail Resorts, Inc.'s (NYSE:MTN) CEO Pay Justified?
This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Rob Katz's Compensation Compare With Similar Sized Companies. … has a market cap of US$8.7b, and is paying total annual CEO compensation of US$3.4m.
Simply Wall St - – Full articleIntroducing Vail Resorts (NYSE:MTN), The Stock That Zoomed 204% In The Last Five Years
Over half a decade, Vail Resorts managed to grow its earnings per share at 59% a year. … It's always worth keeping an eye on CEO pay, but a more important question is whether the company will grow earnings throughout the years … It might be well worthwhile taking a look at our free report on Vail Resorts's earnings, revenue and cash flow.
Simply Wall St - – Full articleMTN Company Info
Description
Vail Resorts, Inc., through its subsidiaries, operates mountain resorts and urban ski areas in the United States. The company operates through three segments: Mountain, Lodging, and Real Estate. The Mountain segment operates 11 mountain resorts, including Vail Mountain, Breckenridge Ski, Keystone, and Beaver Creek resorts in Colorado; Park City resort in Utah; Heavenly Mountain, Northstar, and Kirkwood Mountain resorts in the Lake Tahoe area of California and Nevada; Whistler Blackcomb in Canada; Stowe Mountain resort in Vermont; and Perisher in Australia, as well as 3 urban ski areas, such as Wilmot Mountain in Wisconsin, Afton Alps in Minnesota, and Mount Brighton in Michigan. 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 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 5,400 owned and managed hotel and condominium units. The Real Estate segment owns, develops, and sells real estate properties in and around the company’s resort communities. Vail Resorts, Inc. was founded in 1997 and is based in Broomfield, Colorado.
Details
| Name: | Vail Resorts, Inc. |
| MTN | |
| Exchange: | NYSE |
| Founded: | 1997 |
| $9,471,076,174 | |
| 40,256,200 | |
| Website: | http://www.vailresorts.com |
| Address: |
Vail Resorts, Inc. 390 Interlocken Crescent, Broomfield, Colorado, 80021, United States |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| NYSE | MTN | Common Stock | New York Stock Exchange | US | USD | 04. Feb 1997 | |
| DB | VAI | Common Stock | Deutsche Boerse AG | DE | EUR | 04. Feb 1997 | |
| LSE | 0LK3 | Common Stock | London Stock Exchange | GB | USD | 04. Feb 1997 | |
| BMV | MTN * | Common Stock | Bolsa Mexicana de Valores | MX | MXN | 04. Feb 1997 |
Number of employees
Current staff
Industry
| Leisure Facilities | |
| Consumer Services |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/07/22 23:51 |
| End of day share price update: | 2019/07/22 00:00 |
| Last estimates confirmation: | 2019/07/22 |
| Last earnings filing: | 2019/06/06 |
| Last earnings reported: | 2019/04/30 |
| Last annual earnings reported: | 2018/07/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
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.
