VAIL RESORTS INCMTNEarnings & Financial Report
Vail Resorts, Inc. is an American mountain resort company headquartered in Broomfield, Colorado. The company is divided among divisions that own and operate 42 mountain resorts in four countries, along with hotels, lodging, condominiums, and golf courses that comprise property real estate holdings.
Revenue
$265.4M
Gross Profit
N/A
Operating Profit
$-198.7M
Net Profit
$-175.4M
Gross Margin
N/A
Operating Margin
-74.9%
Net Margin
-66.1%
YoY Growth
-1.6%
EPS
$-4.63
Financial Flow
VAIL RESORTS INC Q4 2024 Financial Summary
VAIL RESORTS INC reported revenue of $265.4M (down 1.6% YoY) for Q4 2024, with a net profit of $-175.4M (down 36.4% YoY) (-66.1% margin). Cost of goods sold was N/A.
Key Financial Metrics
| Total Revenue | $265.4M |
|---|---|
| Net Profit | $-175.4M |
| Gross Margin | N/A |
| Operating Margin | -74.9% |
| Report Period | Q4 2024 |
Revenue Breakdown
VAIL RESORTS INC Q4 2024 revenue of $265.4M breaks down across 9 segments, led by Lodgingrevenueexcludingpayrollcostreimbursements at $85.9M (32.4% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Lodgingrevenueexcludingpayrollcostreimbursements | $85.9M | 32.4% |
| Other Mountain Revenue | $75.9M | 28.6% |
| Owned Hotel Revenue | $30.2M | 11.4% |
| Retail Rental | $24.3M | 9.2% |
| Other Lodging Revenue | $18.0M | 6.8% |
| Managedcondominiumrooms | $10.5M | 4.0% |
| Ski School | $9.5M | 3.6% |
| Other | $7.6M | 2.9% |
| Payrollcostreimbursements | $3.5M | 1.3% |
VAIL RESORTS INC Revenue by Segment — Quarterly Trend
VAIL RESORTS INC revenue by segment across the last 4 reported quarters, showing how each business line (such as Lodgingrevenueexcludingpayrollcostreimbursements and Other Mountain Revenue) has evolved quarter over quarter.
| Segment | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 |
|---|---|---|---|---|
| Lodgingrevenueexcludingpayrollcostreimbursements | $67.2M | $87.1M | $78.7M | $70.2M |
| Other Mountain Revenue | $55.1M | $81.1M | $57.4M | $59.1M |
| Owned Hotel Revenue | $12.7M | $31.6M | $15.1M | $13.4M |
| Retail Rental | — | $24.1M | $113.7M | $135.2M |
| Other Lodging Revenue | $10.2M | $16.6M | $9.3M | $10.4M |
VAIL RESORTS INC Annual Revenue by Year
VAIL RESORTS INC annual revenue history includes year-by-year totals (for example, 2025 revenue was $3.0B).
| Year | Annual Revenue |
|---|---|
| 2025 | $3.0B |
| 2024 | $2.9B |
| 2023 | $2.9B |
| 2022 | $2.5B |
VAIL RESORTS INC Quarterly Revenue & Net Profit History
VAIL RESORTS INC results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 2026 | $271.0M | +4.1% | $-186.8M | -68.9% |
| Q4 2025 | $271.3M | +2.2% | $-185.5M | -68.4% |
| Q3 2025 | $1.3B | +1.0% | $392.8M | 30.3% |
| Q2 2025 | $1.1B | +5.5% | $245.5M | 21.6% |
| Q1 2025 | $260.3M | +0.7% | $-172.8M | -66.4% |
| Q4 2024 | $265.4M | -1.6% | $-175.4M | -66.1% |
| Q3 2024 | $1.3B | +3.6% | $362.0M | 28.2% |
| Q2 2024 | $1.1B | -2.2% | $219.3M | 20.3% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.08B | $1.28B | $265.4M | $260.3M | $1.14B | $1.30B | $271.3M | $271.0M |
| YoY Growth | -2.2% | 3.6% | -1.6% | 0.7% | 5.5% | 1.0% | 2.2% | 4.1% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $5.85B | $5.81B | $5.70B | $5.64B | $5.53B | $5.76B | $5.78B | $5.76B |
| Liabilities | $4.70B | $4.49B | $4.66B | $4.90B | $4.72B | $4.53B | $5.02B | $5.30B |
| Equity | $829.9M | $1.00B | $723.5M | $444.1M | $530.7M | $895.4M | $424.5M | $156.5M |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $242.7M | $109.9M | $-94.2M | $282.4M | $326.3M | $117.7M | $-171.6M | $315.9M |