Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.60B | $1.91B | $2.01B | $2.27B | $1.96B | $1.91B | $2.53B | $2.89B | $2.89B | $2.96B |
| Revenue growth | — | 19.1% | 5.5% | 12.9% | -13.6% | -2.7% | 32.3% | 14.4% | -0.1% | 2.7% |
| Operating income | $283M | $379M | $409M | $476M | $223M | $261M | $602M | $504M | $489M | $560M |
| Operating margin | 17.7% | 19.9% | 20.3% | 21.0% | 11.4% | 13.7% | 23.8% | 17.5% | 16.9% | 18.9% |
| Net income | $150M | $211M | $380M | $301M | $98.8M | $128M | $348M | $266M | $231M | $280M |
| Net margin | 9.4% | 11.0% | 18.9% | 13.3% | 5.0% | 6.7% | 13.8% | 9.2% | 8.0% | 9.4% |
| EPS (diluted) | $4.01 | $5.22 | $9.13 | $7.32 | $2.42 | $3.13 | $8.55 | $6.69 | $6.09 | $7.53 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $437M | $471M | $548M | $634M | $395M | $525M | $710M | $638M | $589M | $555M |
| Capital expenditures | $109M | $144M | $141M | $192M | $172M | $115M | $193M | $315M | $211M | $235M |
| Free cash flow | $328M | $327M | $408M | $442M | $223M | $410M | $518M | $323M | $378M | $320M |
| Share buybacks | $53.8M | $210K | $25.8M | $85.0M | $46.4M | $0.00 | $75.0M | $500M | $150M | $270M |
| Dividends paid | $104M | $146M | $204M | $261M | $213M | $0.00 | $226M | $314M | $324M | $328M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $67.9M | $117M | $178M | $109M | $391M | $1.24B | $1.11B | $563M | $323M | $440M |
| Total assets | $2.48B | $4.11B | $4.06B | $4.43B | $5.24B | $6.25B | $6.32B | $5.95B | $5.69B | $5.78B |
| Total liabilities | $1.59B | $2.31B | $2.25B | $2.70B | $3.71B | $4.42B | $4.47B | $4.61B | $4.66B | $5.02B |
| Long-term debt | $687M | $1.23B | $1.23B | $1.53B | $2.39B | $2.74B | $2.67B | $2.75B | $2.73B | $2.59B |
| Shareholders' equity | $875M | $1.57B | $1.59B | $1.50B | $1.32B | $1.59B | $1.61B | $1.00B | $710M | $424M |
| Retained earnings | $487M | $551M | $727M | $760M | $646M | $774M | $896M | $874M | $767M | $719M |
| Shares (wtd avg diluted) | 37.3M | 40.4M | 41.6M | 41.2M | 40.8M | 40.8M | 40.7M | 39.8M | 38.0M | 37.2M |
Every figure is extracted from VAIL RESORTS INC’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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