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
$1.1B
Gross Profit
N/A
Operating Profit
$384.4M
Net Profit
$245.5M
Gross Margin
N/A
Operating Margin
33.8%
Net Margin
21.6%
YoY Growth
5.5%
EPS
$6.56
Financial Flow
VAIL RESORTS INC Q2 2025 Financial Summary
VAIL RESORTS INC reported revenue of $1.1B (up 5.5% YoY) for Q2 2025, with a net profit of $245.5M (up 12.0% YoY) (21.6% margin). Cost of goods sold was N/A.
Key Financial Metrics
| Total Revenue | $1.1B |
|---|---|
| Net Profit | $245.5M |
| Gross Margin | N/A |
| Operating Margin | 33.8% |
| Report Period | Q2 2025 |
Revenue Breakdown
VAIL RESORTS INC Q2 2025 revenue of $1.1B breaks down across 11 segments, led by Lift Tickets at $644.9M (56.7% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Lift Tickets | $644.9M | 56.7% |
| Retail Rental | $135.2M | 11.9% |
| Ski School | $133.0M | 11.7% |
| Dining | $90.9M | 8.0% |
| Lodgingrevenueexcludingpayrollcostreimbursements | $70.2M | 6.2% |
| Other Mountain Revenue | $59.1M | 5.2% |
| Managedcondominiumrooms | $27.1M | 2.4% |
| Owned Hotel Revenue | $13.4M | 1.2% |
| Other Lodging Revenue | $10.4M | 0.9% |
| Transportation | $5.5M | 0.5% |
| Payrollcostreimbursements | $3.8M | 0.3% |
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 Lift Tickets and Retail Rental) has evolved quarter over quarter.
| Segment | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 |
|---|---|---|---|---|
| Lift Tickets | — | — | $770.3M | $644.9M |
| Retail Rental | — | $24.1M | $113.7M | $135.2M |
| Ski School | — | — | $160.2M | $133.0M |
| Dining | $84.6M | $18.4M | $111.0M | $90.9M |
| Lodgingrevenueexcludingpayrollcostreimbursements | $67.2M | $87.1M | $78.7M | $70.2M |
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 |