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Vail Resorts MTN Real Estate Operating Expense — Other Expenses

Other segment segments

Mountain Operating Expense
$137.6M-4.7%
Lodging Operating Expense
$20.92M+5.2%

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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$5.23B-5.6%
Enterprise value$8.11B-15.0%
P/E7.2×
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 us-gaap:OtherExpenses.

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
Total Lodging operating expense68,51070,600223,777225,072
Total Resort operating expense619,135648,3781,692,2931,728,582
Real Estate
Other (1)1,4751,6624,7684,911
Total Real Estate operating expense1,4751,6624,7684,911
Total segment operating expense$620,610$650,040$1,697,061$1,733,493
Gain on sale of real property$400$7,898$11,458$24,404
Mountain equity investment income, net$458$666$389$3,562

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

FAQ

What is Vail Resorts's real estate operating expense — other expenses?
Vail Resorts (MTN) reported real estate operating expense — other expenses of $1.48M in Q1 2026.
How has Vail Resorts's real estate operating expense — other expenses changed year-over-year?
Vail Resorts's real estate operating expense — other expenses decreased by 11.3% year-over-year, from $1.66M to $1.48M.
What is the long-term trend for Vail Resorts's real estate operating expense — other expenses?
Over 2 years (2023 to 2025), Vail Resorts's real estate operating expense — other expenses has grown at a 6.4% compound annual growth rate (CAGR), from $5.49M to $6.21M.
What does real estate operating expense — other expenses mean?
This metric represents the non-direct operating costs associated with the real estate business segment, excluding direct cost of sales. It captures overhead, administrative, and general maintenance expenses required to support real estate development and leasing activities. Monitoring these costs helps assess the operational efficiency and fixed cost burden of the company's real estate division.

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