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Vail Resorts MTN Lift — Mountain Revenue Net

Other product segments

Ski School
$141.76M-11.5%
Retail/Rental
$104.21M-8.3%
Dining
$99.14M-10.7%
Other
$55.29M-3.7%

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TOLMountain — Cost of revenues
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TOLMountain — Other income – net
$1.18M+12.6%

Other financials

Income statement

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Revenue$1.2B-7.0%
Operating income$494.1M-14.5%
Net income$314.4M-19.3%
EPS (diluted)$8.81-15.8%

Balance sheet

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Cash & equivalents$387.3M-19.4%
Total debt$3.3B+10.9%
Total equity$551.7M-37.1%
Total assets$5.7B-1.1%

Cash flow

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Operating cash flow$6.8M-94.1%
CapEx$35.1M+5.5%
Free cash flow$185.0M-26.4%

Valuation

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Market cap$5.3B-3.4%
Enterprise value$8.19B-13.8%
P/E7.3×
P/S1.9×0.0×

Profitability

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Operating margin21.5%
Net margin12.8%
FCF margin10.2%

Returns & leverage

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Return on equity17.5%
Debt / equity5.9×+2.6×
Current ratio0.9×+0.3×

Where this comes from

Reported directly by Vail Resorts in its filing.

Tagged under the XBRL concept mtn:MountainRevenueNet.

The source filing: Vail Resorts’s 10-Q, filed June 8, 2026.

Filed
Jun 8, 2026, 4:07 PM EDT
Fiscal quarter
Q3 FY2026
Calendar quarter
Q2 2026
Accession
0000812011-26-000026
Line itemThree Months Ended April 30, 2026Three Months Ended April 30, 2025Nine Months Ended April 30, 2026Nine Months Ended April 30, 2025
Mountain net revenue:
Lift$729,378$770,259$1,404,948$1,455,600
Ski School141,758160,243270,269300,091
Dining99,142110,972203,554222,507
Retail/Rental104,211113,678261,014278,363
Other55,28957,397187,536192,378
Total Mountain net revenue$1,129,778$1,212,549$2,327,321$2,448,939
Lodging net revenue:

Item 6. [Exhibits](#iaa9b09eeb9264d47a42ebc1774906a57_127) [43](#iaa9b09eeb9264d47a42ebc1774906a57_127)

FAQ

What is Vail Resorts's lift — mountain revenue net?
Vail Resorts (MTN) reported lift — mountain revenue net of $729.38M in Q1 2026.
How has Vail Resorts's lift — mountain revenue net changed year-over-year?
Vail Resorts's lift — mountain revenue net decreased by 5.3% year-over-year, from $770.26M to $729.38M.
What is the long-term trend for Vail Resorts's lift — mountain revenue net?
Over 4 years (2021 to 2025), Vail Resorts's lift — mountain revenue net has grown at a 8.7% compound annual growth rate (CAGR), from $1.08B to $1.5B.
What does lift — mountain revenue net mean?
This metric represents the net revenue generated specifically from lift ticket sales across all mountain resort properties. It serves as a primary indicator of skier visitation volume and pricing power within the core mountain operations segment. Tracking this figure allows investors to assess the direct financial performance of the company's primary winter sports access product.

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