Feed / MTN

Vail Resorts, Inc.

MTN

Consumer Cyclical · 138.73 +1.1% today

Isolated · not yet confirmedMarket checked 1 Oct, 15:55 GMT-4

Market read

No connected market move is active around Vail Resorts, Inc..

The latest filing evidence is available. 0 of 0 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 2 directly disclosed connections are confirming.

What changed
  • Revenue decreased 7.0% versus the comparable filing period.
Company+1.1% todayVolume comparison unavailable
Market groupNo active group readNo durable group available
Disclosed network0 of 2 confirmingNo filing-linked name is confirming now
What would change this read
  • Vail repaid the remaining 0.0% convertible notes and used additional credit-agreement borrowings to fund the financing transition.
  • Paid lift revenue and skier visitation fell as record-low snowfall and warm temperatures reduced demand across western U.S. resorts.

Invalidation: The isolated read changes if MTN's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Consumer Cyclical · Resorts & Casinos

The latest filing evidence is available. 0 of 0 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 2 directly disclosed connections are confirming.

Evidence that supports

No thresholded supportive filing evidence is available yet.

Evidence that challenges
  • Revenue decreased 7.0% versus the comparable filing period.
  • Operating margin fell 3.6 percentage points.
  • Net income decreased 19.3% versus the comparable filing period.
What would clarify the read
  • Vail repaid the remaining 0.0% convertible notes and used additional credit-agreement borrowings to fund the financing transition.
  • Paid lift revenue and skier visitation fell as record-low snowfall and warm temperatures reduced demand across western U.S. resorts.

Company research

Understand the business, not just the ticker

As of Oct 2, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations342
Usable filing statements240
Verified relationships5
Evidence supporting the case
  • Operating margin changed +1.9 percentage points in the latest annual period.
  • Net margin changed +1.4 percentage points in the latest annual period.
  • Credit and interest rates has repeated favorable evidence across 5 filings.
Evidence challenging the case
  • Demand and volume has repeated adverse evidence across 6 filings.
Questions before a position

No credible peer-relative valuation comparison is available yet.

Longer-term price context

Price as of Oct 1, 2026

138.73
6m+8.2%12m-7.3%24m—
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-07-31$1.9B-2.7%$3.13-0.0%
2022-07-31$2.5B+32.3%$8.55-0.3%
2023-07-31$2.9B+14.4%$6.69-2.3%
2024-07-31$2.9B-0.1%$6.09-4.5%
2025-07-31$3.0B+2.7%$7.53-2.0%

What management says matters

Persistent and emerging business drivers

Capital investment and capacitymixed · 6 filings
“Significant Uses of Cash Capital Expenditures We have historically invested significant amounts of cash in capital expenditures for our resort operations, and we expect to continue to do so, subject to operating performance particularly as it relates to discr…”
10-K · Sep 28, 2026 ↗
Demand and volumemixed · 6 filings
“Transportation revenue decreased $2.4 million, or 16.3%, due to decreased demand driven by decreased skier visitation from challenging weather conditions across the western U.S.”
10-K · Sep 28, 2026 ↗
Credit and interest ratespositive · 5 filings
“Net cash used in financing activities increased by $178.4 million during Fiscal 2026 compared to Fiscal 2025, primarily driven by the repayment upon maturity of the remaining $525.0 million aggregate principal amount of the 0.0% Convertible Notes, partially o…”
10-K · Sep 28, 2026 ↗
Macroeconomic conditionspositive · 2 filings
“Other expense increased $6.2 million, or 6.3%, as a result of increased taxes and assessments ($2.1 million) driven by a reduction in property tax refunds received, as well as inflation in supplies, professional services, repairs and maintenance, credit card…”
10-K · Sep 28, 2026 ↗

Valuation discipline

Peer-relative valuation withheld

Jodie found no industry-matched filing peers suitable for a valuation comparison. It will not substitute broader financial-sector names.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

138.73+1.1% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 1 Oct, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for MTN. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Earlier comparable assessment · baseline

The latest filing shows material pressure

10-Q filed 2026-06-08 against the comparable filing from 2025-06-05.

A newer Struct brief is shown above. This older assessment remains here for comparison, not as the current read.

cautious
OperationscautiousEvidence score -4
liquidityneutralEvidence score 0
valuationmixed

What improved

No thresholded improvement was identified.

What weakened

  • Revenue decreased 7.0% versus the comparable filing period.
  • Operating margin fell 3.6 percentage points.
  • Net income decreased 19.3% versus the comparable filing period.

Filing receipts

“Other expenses decreased $12.6 million, or 3.2%, primarily due to decreased variable expenses associated with decreased revenues, including dining cost of sales ($4.3 million), supplies ($2.9 million), repairs and maintenance ($1.5 million) and fuel ($1.4 million), as well as a decrease in pass partnership expense ($3.4 million).”

“Other expense decreased $6.8 million, or 4.7%, primarily driven by decreased variable costs associated with the decreased revenue, primarily supplies ($1.5 million), dining cost of sales ($1.4 million), variable rent ($0.7 million) and professional services ($0.6 million).”

“Lodging Reported EBITDA decreased $9.9 million, or 52.8%, primarily due to decreased demand, including the impact of decreased skier visitation driven by challenging weather conditions and delayed openings, which drove a decrease in revenue from both our managed condominium and owned hotel rooms, as well as a decrease in dining and transportation revenue, partially offset by increased demand for lodging and park visitation at GTLC ($2.1 million) driven by favorable weather conditions.”

Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.

Business ecosystem

The relationships behind MTN

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

ALPSFiling-linked nameinvesteeSep 29, 2025 ▾

“Andermatt-Sedrun On August 3, 2022, through a wholly-owned subsidiary, the Company acquired a 55 % controlling interest in Andermatt-Sedrun from Andermatt Swiss Alps AG (“ASA”).”

Depended on by

KTBKontoor Brands, Inc.customerMar 4, 2026 ▾

“The outdoor and sporting goods customers of the Helly Hansen ® brand include independent specialty retailers, national ski resorts such as Vail Resorts and outdoor specialty retailers such as REI.”

Filing peers

No filing peers are available for this name yet.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

MTN is currently a Leader in the organic co-movement group Unknown Theme. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 2 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.

This group is retained as the last observed read for MTN; it is not active in the latest market snapshot.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.