Vail Resorts market cap is $7.9 b, and annual revenue was $2.27 b in FY 2019

Vail Resorts Net income (Q2, 2020)217 M

Vail Resorts EBIT (Q2, 2020)310.7 M

Vail Resorts Cash, 31-Jan-2020126.8 M

Vail Resorts EV9.6 B

USD | FY, 2016 | FY, 2017 | FY, 2018 | FY, 2019 |
---|---|---|---|---|

## Revenue | 1.6b | 1.9b | 2.0b | 2.3b |

| 11% | 19% | 5% | |

## General and administrative expense | 236.8m | 251.8m | ||

## Operating expense total | 236.8m | 251.8m | ||

## Depreciation and amortization | (161.5m) | (189.2m) | (204.5m) | |

## EBIT | 283.0m | 379.3m | 408.8m | 476.3m |

| 18% | 20% | 20% | 21% |

## Interest expense | 42.4m | 54.1m | 63.2m | |

## Interest income | 3.1m | |||

## Pre tax profit | 242.6m | 348.4m | 340.1m | 399.0m |

## Income tax expense | 93.2m | 116.7m | (61.1m) | 75.5m |

## Net Income | 149.5m | 231.7m | 401.2m | 301.2m |

USD | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 | Q2, 2018 | Q3, 2018 | Q1, 2019 | Q2, 2019 | Q3, 2019 | Q1, 2020 | Q2, 2020 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|

## Revenue | 174.6m | 599.4m | 647.5m | 178.3m | 725.2m | 794.6m | 220.9m | 734.6m | 844.5m | 220.0m | 849.6m | 958.0m | 267.8m | 924.6m |

## General and administrative expense | 57.9m | 70.7m | 66.2m | 64.4m | 77.4m | 68.2m | ||||||||

## Operating expense total | 57.9m | 128.6m | 194.8m | 64.4m | 77.4m | 68.2m | ||||||||

## Depreciation and amortization | (38.7m) | (40.5m) | (41.5m) | (40.6m) | (49.6m) | (50.0m) | (48.6m) | (51.4m) | (54.1m) | (51.0m) | (55.2m) | (55.3m) | ||

## EBIT | (86.7m) | 200.1m | 263.4m | (90.5m) | 252.3m | 320.1m | (103.7m) | 257.5m | 368.0m | (127.6m) | 301.8m | 422.6m | (135.5m) | 310.7m |

| (50%) | 33% | 41% | (51%) | 35% | 40% | (47%) | 35% | 44% | (58%) | 36% | 44% | (51%) | 34% |

## Interest expense | 10.6m | 10.9m | 10.4m | 12.0m | 15.2m | 16.0m | 15.6m | 18.6m | 21.0m | 19.6m | 22.7m | 26.1m | ||

## Interest income | 277.0k | 361.0k | ||||||||||||

## Pre tax profit | (97.1m) | 244.5m | 297.5m | (125.3m) | 252.3m | 344.2m | (147.1m) | 282.0m | 401.9m | (156.4m) | 284.3m | |||

## Income tax expense | 36.6m | (72.4m) | (95.8m) | (33.5m) | 84.8m | 100.6m | (93.4m) | 3.6m | 71.9m | (36.4m) | 64.0m | 93.3m | (46.6m) | 67.3m |

## Net Income | (59.7m) | 116.9m | 157.5m | (63.6m) | 159.7m | 196.9m | (31.9m) | 248.7m | 272.3m | (110.7m) | 218.0m | 308.5m | (106.5m) | 217.0m |

usd | Y, 2010 | FY, 2011 | Y, 2011 | FY, 2012 | Y, 2012 | FY, 2013 | Y, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 | FY, 2018 | FY, 2019 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|

## Cash | 14.7m | 70.1m | 70.1m | 46.1m | 46.1m | 138.6m | 138.6m | 44.4m | 35.5m | 67.9m | 117.4m | 178.1m | 108.9m |

## Accounts Receivable | 58.5m | 65.7m | 79.0m | 186.9m | 230.8m | 270.9m | |||||||

## Prepaid Expenses | 21.3m | 16.0m | 19.7m | 33.7m | 37.3m | 42.1m | |||||||

## Inventories | 54.0m | 65.9m | 68.3m | 3.5b | 84.8m | 85.6m | 96.5m | ||||||

## Current Assets | 245.6m | 232.4m | 343.5m | 275.0m | 288.1m | 322.9m | 433.1m | 538.7m | 527.9m | ||||

## PP&E | 1.0b | 1.0b | 1.2b | 1.1b | 1.4b | 1.4b | 1.7b | 1.6b | 1.8b | ||||

## Goodwill | 268.1m | 269.8m | 348.8m | 1.5b | 1.5b | 1.6b | |||||||

## Total Assets | 1.9b | 1.9b | 2.3b | 2.2b | 2.5b | 2.5b | 4.1b | 4.1b | 4.4b | ||||

## Accounts Payable | 55.5m | 56.5m | 61.4m | 1.6b | 397.5m | 71.6m | 80.8m | 96.4m | |||||

## Short-term debt | 1.0m | 990.0k | 994.0k | 1.0m | 10.2m | 13.4m | 38.4m | 38.5m | 48.5m | ||||

## Current Liabilities | 243.2m | 249.2m | 313.3m | 324.2m | 398.6m | 506.5m | 604.6m | 593.6m | 719.1m | ||||

## Long-term debt | 490.7m | 489.8m | 795.9m | 625.6m | 806.7m | 686.9m | 1.2b | 1.2b | 1.5b | ||||

## Total Debt | 491.7m | 490.8m | 796.9m | 626.6m | 816.8m | 700.3m | 1.3b | 1.3b | 1.6b | ||||

## Total Liabilities | 2.3b | 2.3b | 2.7b | ||||||||||

## Common Stock | 403.0k | 405.0k | 409.0k | 454.0k | 460.0k | 461.0k | |||||||

## Preferred Stock | |||||||||||||

## Additional Paid-in Capital | 575.7m | 586.7m | 598.7m | 612.3m | 623.5m | 636.0m | 1.2b | 1.1b | 1.1b | ||||

## Retained Earnings | 416.5m | 408.7m | 418.0m | 401.5m | 440.7m | 486.7m | 551.0m | 726.7m | 759.8m | ||||

## Total Equity | 843.7m | 816.3m | 837.9m | 834.8m | 880.6m | 888.5m | 1.8b | 1.8b | 1.7b | ||||

## Debt to Equity Ratio | 0.8 x | 0.9 x | 0.8 x | 0.7 x | 0.7 x | 0.9 x | |||||||

## Debt to Assets Ratio | 0.3 x | 0.3 x | 0.3 x | 0.3 x | 0.3 x | 0.4 x | |||||||

## Financial Leverage | 2.3 x | 2.4 x | 2.7 x | 2.6 x | 2.8 x | 2.8 x | 2.3 x | 2.2 x | 2.6 x |

USD | FY, 2011 | FY, 2012 | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 | FY, 2018 | FY, 2019 |
---|---|---|---|---|---|---|---|---|---|

## Net Income | 34.5m | 16.5m | 37.7m | 28.2m | (70.2m) | (65.3m) | 231.7m | 401.2m | 323.5m |

## Depreciation and Amortization | 118.0m | 127.6m | 132.7m | 140.6m | 149.1m | 161.5m | 189.2m | 204.5m | 218.1m |

## Accounts Receivable | (1.6m) | (2.6m) | (11.7m) | (17.0m) | (15.3m) | (33.0m) | (36.3m) | (44.3m) | (35.4m) |

## Inventories | (2.8m) | (10.9m) | (105.0k) | (282.0m) | (186.0m) | 8.1m | (963.0k) | (7.3m) | |

## Accounts Payable | (23.2m) | (2.5m) | 19.8m | (14.2m) | 1.9m | 23.3m | |||

## Cash From Operating Activities | 267.3m | 185.4m | 222.4m | (94.2m) | (8.9m) | 32.4m | 456.9m | 551.6m | 634.2m |

## Purchases of PP&E | (95.6m) | (132.6m) | (94.9m) | (144.4m) | (140.6m) | (192.0m) | |||

## Capital Expenditures | (118.3m) | (123.9m) | (109.2m) | ||||||

## Cash From Investing Activities | (158.2m) | (156.0m) | (108.2m) | (117.9m) | (427.1m) | (124.0m) | (682.8m) | (134.6m) | (596.0m) |

## Short-term Borrowings | (185.0m) | ||||||||

## Long-term Borrowings | (226.9m) | (57.1m) | (97.0m) | ||||||

## Dividends Paid | 5.4m | (24.2m) | (28.4m) | (45.0m) | (75.5m) | (103.8m) | (146.2m) | (204.2m) | (260.6m) |

## Cash From Financing Activities | (53.7m) | (53.5m) | (21.8m) | (222.2m) | 115.3m | (271.2m) | 271.9m | (350.7m) | (99.6m) |

## Net Change in Cash | 55.4m | (24.1m) | 92.6m | 49.5m | 60.8m | (66.7m) | |||

## Interest Paid | 35.8m | 30.2m | 34.2m | 33.2m | 46.5m | 53.8m | 70.9m | ||

## Income Taxes Paid | 1.4m | 216.0k | 4.0m | 49.4m | 16.9m | 27.2m | |||

## Free Cash Flow | (212.5m) | (132.8m) | (76.8m) |

USD | Y, 2020 |
---|---|

## EV/EBIT | 30.9 x |

## EV/CFO | 17.9 x |

## Financial Leverage | 3.1 x |