Vail Resorts
Operating a cross-border ski-resort network linked by the Epic Pass.
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Profile
Operates a cross-border network of destination and close-to-home ski resorts linked by the Epic Pass. Advance season-pass commitments connect the portfolio and are intended to support resort reinvestment; the business remains dependent on visitation and conditions.
Operates destination and close-to-home ski resorts across North America, Australia, and Europe. The Epic Pass links the portfolio through advance season-pass commitments, while resort operations serve guests across its mountain network. Its network includes both destination resorts and close-to-home ski areas. The pass model connects these areas across the network.
Growth has combined its original Colorado resorts with acquisitions including Peak Resorts in the Northeast, Mid-Atlantic, and Midwest, plus Perisher, Whistler Blackcomb, and Crans-Montana. The model depends on visitation and conditions, while pre-season pass commitments are intended to support reinvestment.
Company facts
Categories
Key statistics
Year to date +6.0% · Average volume (30d) 571.6K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 13, 2026 | Goldman Sachs | Initiate | Sell | $132 | |
| Jun 9, 2026 | Truist Financial | Target | $234 | $195 | |
| Jun 9, 2026 | Stifel Nicolaus | Target | $172 | $167 | |
| Jun 9, 2026 | Mizuho Securities | Target | $191 | $174 | |
| Jun 9, 2026 | Barclays | Reiterate | Underweight | $140 | $119 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jun 8, 2026Q3 FY26 | $8.94 | $8.81 | −1.5% | $1.20B | $1.21B | +0.1% | −4.34% |
| Mar 9, 2026Q2 FY26 | $6.06 | $5.87 | −3.1% | $1.10B | $1.08B | −1.0% | +0.93% |
| Dec 10, 2025Q1 FY26 | −$5.16 | −$5.20 | −0.8% | $277.6M | $271.0M | −2.4% | +9.32% |
| Sep 29, 2025Q4 FY25 | −$4.72 | −$5.08 | −7.6% | $274.4M | $271.2M | −1.2% | +1.02% |
Financial highlights
| 12 quarters | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $1.14B | $1.30B | $271.3M | $271.0M | $1.08B | $1.21B | |
| Gross profit | $571.9M | $751.5M | −$18.8M | −$31.9M | $1.03B | $598.2M | |
| Operating income | $384.4M | $581.2M | −$203.6M | −$209.8M | $602.6M | $494.1M | |
| Net income | $245.5M | $392.8M | −$185.5M | −$186.8M | $210.0M | $340.2M | |
| Diluted EPS | $6.56 | $10.54 | −$5.08 | −$5.20 | $5.85 | $8.76 | |
| Gross margin | 50.3% | 58.0% | -6.9% | -11.8% | 94.6% | 49.6% | |
| Operating margin | 33.8% | 44.9% | -75.1% | -77.4% | 55.6% | 41.0% |
Fiscal years (4-quarter sums)FY21 $1.91B · FY22 $2.53B · FY23 $2.89B · FY24 $2.89B · FY25 $2.96B
Revenue by product · Q3 FY26
Revenue by geography · FY25
Balance sheet, Apr 30, 2026Cash & short-term investments $371.4M · Total debt $3.26B · Total assets $5.69B · Shareholders' equity $551.7M
Dividends
Raised for 4 straight years — most recently to $2.22 from $2.06 in Mar 2024. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 25, 2026 | Jun 25 | Jul 9 | $2.22 | |
| Mar 26, 2026 | Mar 26 | Apr 9 | $2.22 | |
| Dec 30, 2025 | Dec 30 | Jan 12 | $2.22 | |
| Oct 9, 2025 | Oct 9 | Oct 27 | $2.22 | |
| Jun 24, 2025 | Jun 24 | Jul 9 | $2.22 | |
| Mar 27, 2025 | Mar 27 | Apr 10 | $2.22 | |
| Dec 26, 2024 | Dec 26 | Jan 9 | $2.22 | |
| Oct 8, 2024 | Oct 8 | Oct 24 | $2.22 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 35.63M · Float 33.02M · 92.7% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Bamco Inc /NY/ | 6.54M | 18.34% | 13F | Aug 14, 2026 |
| Capital World Investors | 4.36M | 12.22% | 13F | Aug 12, 2026 |
| Capital International Investors | 3.82M | 10.72% | 13F | Aug 12, 2026 |
| BlackRock, Inc. | 3.41M | 9.58% | 13F | Aug 7, 2026 |
| Oasis Management Co Ltd. | 2.33M | 6.54% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Mar 16, 2026 | Robert A. Katz | director, officer: CEO & Chairperson of the Board | +37,500 | $131.81 |
| Mar 16, 2026 | Angela A. Korch | officer: EVP & Chief Financial Officer | +190 | $131.85 |
| Oct 7, 2025 | Angela A. Korch | officer: EVP & Chief Financial Officer | +210 | $155.00 |
Peers
Not reported.