Vail Resorts IncMTN
What Vail Resorts Inc does.
Vail Resorts, Inc., together with its subsidiaries, is referred to throughout this document as “we,” “us,” “our” or the “Company.”
Vail Resorts, Inc., a Delaware corporation, was organized as a holding company in 1997 and operates through various subsidiaries. Our operations are grouped into three reportable segments: Mountain, Lodging and Real Estate, which represented approximately 89%, 11% and 0%, respectively, of our net revenue for our fiscal year ended July 31, 2025 (“Fiscal 2025”).
Our Mountain segment operates 42 world-class destination mountain resorts and regional ski areas (collectively, our “Resorts”). Additionally, the Mountain segment includes ancillary services, primarily including ski school, dining and retail/rental operations.
Revenue and profit, by fiscal year.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $2.0B | $1.9B | $2.5B | $2.9B | $2.9B | $3.0B |
| Net income | $98.8M | $127.8M | $347.9M | $265.8M | $231.1M | $280.0M |
| Free cash flow | $222.6M | $410.2M | $517.7M | $322.9M | $377.8M | $319.7M |
More on MTN.
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Figures from Vail Resorts Inc's filings with the U.S. SEC, standardised automatically; prices are end-of-day closes. Not financial advice.