| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 51 | 30.3x | 17.8x | Around median | |
Growth | 10 | -4.3% | 7.1% | Bottom tier | |
Quality | 80 | 8.7% | 4.5% | Top tier | |
Safety | 37 | 4.0x | 2.6x | Bottom tier | |
Capital Return | 78 | 6.32% | 2.12% | Top tier | |
Momentum | 45 | -2.9% | 2.9% | Around median | |
Sentiment | 81 | 9 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Vail Resorts operates an integrated, owned network of destination and regional ski resorts, generating revenue from prepaid Epic passes and lift tickets, alongside in-resort spending on equipment rentals, ski schools, dining, and lodging. Its model is built on customers committing to pay before the season, geographic diversification of its resorts, and a unified data, technology, and marketing platform; these elements partially mitigated the impact of weather volatility in Q3 FY2026.
In Q3 FY2026, revenue reached $1.2 billion, net income was $314.4 million, and earnings per share were $8.81, equivalent to an approximate net income margin of 26.2% based on the rounded figures provided. Resort revenue declined 7% year over year, and lift revenue fell 5% despite a 15% decline in visits, as 3% growth in North American pass sales before the season helped protect revenue.
The results reveal pronounced seasonality: Q1 FY2026 recorded revenue of $271.0 million, a net loss of $186.8 million, and negative earnings per share of $5.20, followed by Q2 revenue of approximately $1.1 billion, net income of $210.0 million, and earnings per share of $5.87. On a trailing-twelve-month basis, the latest data show revenue of $2.8 billion, net income of $152.2 million, and earnings per share of approximately $4.27.
Automated analysis for informational purposes only — not investment advice.
The average analyst price target is $154.33, with a consensus rating of “Buy,” and estimates ranging between $119 and $195. The average is approximately 5.5% below the 52-week range high of $163.34, while the wide range extends from a level near the annual low of $118.51 to a level approximately 19% above the annual high, reflecting substantial disagreement over the pace of recovery following weakness in weather and pass sales.
Figures in the text are as of 2026-08-30; the live price is shown at the top of the page.
Vail Resorts generated approximately $1.2 billion in revenue, $314.4 million in net income, and $8.81 in earnings per share in Q3 FY2026. Resort revenue declined 7% and Resort EBITDA declined 9%, while visits fell 15% because of severe weather conditions. The impact was greatest in the Rockies, where the season ended with snowfall 55% below the 30-year average.
Passes bring in a portion of revenue before the season begins, so the 3% increase in North American pass sales before the season helped offset some of the decline in usage. In Q3 FY2026, visits declined 15%, but lift revenue fell only 5%. Nevertheless, visits by the most committed pass holders in North America declined 17% during the winter, demonstrating that the model mitigates the impact of weather but does not eliminate it.
Through the May 2026 deadline, pass units declined 10%, dollars including tax declined 5%, and ski days sold fell approximately 8%. Weakness was concentrated in Colorado, Utah, and Lake Tahoe and among destination guests associated with the Rockies, while declines in the Eastern US and Whistler Blackcomb were limited to low-single-digit percentages. In Australia, Epic Australia Pass units increased approximately 26% and dollars increased approximately 31%, making the demand picture geographically mixed.
Epic Friend tickets give guests of pass holders a 50% discount, and the visits they generated increased 10% despite a 10% decline in total lift-ticket visits. Super Advanced offers a 30% discount when purchased one month in advance and increased the number of tickets sold more than 28 days in advance by 65%. Management said on June 8, 2026 that it had seen no evidence of material cannibalization of other advance-ticket products.
The company expects to achieve $106 million in annual savings by the end of FY2026, compared with the original target of $100 million, and then add $30 million in savings in FY2028. It ended Q3 FY2026 with approximately $1.1 billion in liquidity and net leverage equal to 3.5 times trailing-twelve-month EBITDA. It also confirmed core capital expenditures of between $215 million and $220 million and total capital investments of between $234 million and $239 million.
The consensus rates Vail Resorts stock a “Buy,” with an average target of $154.33 and a range between $119 and $195. The average is approximately 5.5% below the 52-week high of $163.34, while the low target is near the range low of $118.51. The wide gap between the low and high targets reflects uncertainty over the demand recovery following the record-poor Rockies season and the 10% decline in pass units through the May 2026 deadline.
