VAIL RESORTS INC (MTN)
US91879Q1094 - Common Stock
We assign a fundamental rating of 5 out of 10 to MTN. MTN was compared to 135 industry peers in the Hotels, Restaurants & Leisure industry. While MTN is still in line with the averages on profitability rating, there are concerns on its financial health. MTN has a correct valuation and a medium growth rate. Finally MTN also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
MTN had positive earnings in the past year.
In the past year MTN had a positive cash flow from operations.
Each year in the past 5 years MTN has been profitable.
MTN had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
MTN has a Return On Assets (4.11%) which is comparable to the rest of the industry.
Looking at the Return On Equity, with a value of 28.94%, MTN belongs to the top of the industry, outperforming 82.09% of the companies in the same industry.
The Return On Invested Capital of MTN (8.28%) is better than 64.18% of its industry peers.
MTN had an Average Return On Invested Capital over the past 3 years of 7.02%. This is below the industry average of 9.90%.
The last Return On Invested Capital (8.28%) for MTN is above the 3 year average (7.02%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.11% | ||
| ROE | 28.94% | ||
| ROIC | 8.28% |
ROA(3y)4.02%
ROA(5y)4.15%
ROE(3y)18.77%
ROE(5y)16.78%
ROIC(3y)7.02%
ROIC(5y)7.08%
1.3 Margins
With a decent Profit Margin value of 8.44%, MTN is doing good in the industry, outperforming 67.16% of the companies in the same industry.
MTN's Profit Margin has declined in the last couple of years.
Looking at the Operating Margin, with a value of 17.14%, MTN is in the better half of the industry, outperforming 70.90% of the companies in the same industry.
In the last couple of years the Operating Margin of MTN has declined.
Looking at the Gross Margin, with a value of 42.57%, MTN is doing worse than 62.69% of the companies in the same industry.
In the last couple of years the Gross Margin of MTN has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 17.14% | ||
| PM (TTM) | 8.44% | ||
| GM | 42.57% |
OM growth 3Y11.87%
OM growth 5Y-2.73%
PM growth 3Y22.63%
PM growth 5Y-13.25%
GM growth 3Y1.86%
GM growth 5Y0.41%
2. Health
2.1 Basic Checks
MTN has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
MTN has less shares outstanding than it did 1 year ago.
MTN has less shares outstanding than it did 5 years ago.
The debt/assets ratio for MTN is higher compared to a year ago.
2.2 Solvency
An Altman-Z score of 1.86 indicates that MTN is not a great score, but indicates only limited risk for bankruptcy at the moment.
MTN has a Altman-Z score of 1.86. This is comparable to the rest of the industry: MTN outperforms 55.22% of its industry peers.
MTN has a debt to FCF ratio of 7.61. This is a slightly negative value and a sign of low solvency as MTN would need 7.61 years to pay back of all of its debts.
MTN has a Debt to FCF ratio of 7.61. This is in the better half of the industry: MTN outperforms 65.67% of its industry peers.
MTN has a Debt/Equity ratio of 3.28. This is a high value indicating a heavy dependency on external financing.
MTN has a Debt to Equity ratio (3.28) which is in line with its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 3.28 | ||
| Debt/FCF | 7.61 | ||
| Altman-Z | 1.86 |
ROIC/WACC1.01
WACC8.22%
2.3 Liquidity
A Current Ratio of 0.96 indicates that MTN may have some problems paying its short term obligations.
The Current ratio of MTN (0.96) is comparable to the rest of the industry.
A Quick Ratio of 0.85 indicates that MTN may have some problems paying its short term obligations.
With a Quick ratio value of 0.85, MTN perfoms like the industry average, outperforming 50.75% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.96 | ||
| Quick Ratio | 0.85 |
3. Growth
3.1 Past
MTN shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -27.13%.
The Earnings Per Share has been growing slightly by 1.23% on average over the past years.
The Revenue has been growing slightly by 0.70% in the past year.
The Revenue has been growing slightly by 7.51% on average over the past years.
EPS 1Y (TTM)-27.13%
EPS 3Y31.17%
EPS 5Y1.23%
EPS growth Q2Q11.63%
Revenue 1Y (TTM)0.7%
Revenue growth 3Y13.74%
Revenue growth 5Y7.51%
Revenue growth Q2Q-2.16%
3.2 Future
The Earnings Per Share is expected to grow by 18.52% on average over the next years. This is quite good.
The Revenue is expected to grow by 3.87% on average over the next years.
EPS Next Y20.68%
EPS Next 2Y22.89%
EPS Next 3Y18.52%
EPS Next 5YN/A
Revenue Next Year0.61%
Revenue Next 2Y3.8%
Revenue Next 3Y3.87%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 34.12, the valuation of MTN can be described as expensive.
MTN's Price/Earnings ratio is in line with the industry average.
MTN is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 28.60, which is the current average of the S&P500 Index.
With a Price/Forward Earnings ratio of 20.53, MTN is valued on the expensive side.
MTN's Price/Forward Earnings ratio is in line with the industry average.
Compared to an average S&P500 Price/Forward Earnings ratio of 20.15, MTN is valued at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 34.12 | ||
| Fwd PE | 20.53 |
4.2 Price Multiples
MTN's Enterprise Value to EBITDA is on the same level as the industry average.
Based on the Price/Free Cash Flow ratio, MTN is valued a bit cheaper than 68.66% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 21.16 | ||
| EV/EBITDA | 12.78 |
4.3 Compensation for Growth
The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
MTN has a very decent profitability rating, which may justify a higher PE ratio.
MTN's earnings are expected to grow with 18.52% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.65
PEG (5Y)27.79
EPS Next 2Y22.89%
EPS Next 3Y18.52%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 4.52%, MTN is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 2.75, MTN pays a better dividend. On top of this MTN pays more dividend than 95.52% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.32, MTN pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.52% |
5.2 History
On average, the dividend of MTN grows each year by 9.59%, which is quite nice.
MTN has paid a dividend for at least 10 years, which is a reliable track record.
MTN has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)9.59%
Div Incr Years2
Div Non Decr Years3
5.3 Sustainability
MTN pays out 132.01% of its income as dividend. This is not a sustainable payout ratio.
The dividend of MTN is growing, but earnings are growing more, so the dividend growth is sustainable.
DP132.01%
EPS Next 2Y22.89%
EPS Next 3Y18.52%
VAIL RESORTS INC
NYSE:MTN (5/17/2024, 7:14:59 PM)
After market: 204.36 0 (0%)204.36
+0.36 (+0.18%)
Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Services
GICS IndustryHotels, Restaurants & Leisure
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap7.76B
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.52% |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
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Revenue beat(2)
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PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 34.12 | ||
| Fwd PE | 20.53 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)1.65
PEG (5Y)27.79
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.11% | ||
| ROE | 28.94% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 17.14% | ||
| PM (TTM) | 8.44% | ||
| GM | 42.57% | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.49
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 3.28 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 0.96 | ||
| Quick Ratio | 0.85 | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
Growth
EPS 1Y (TTM)-27.13%
EPS 3Y31.17%
EPS 5Y
EPS growth Q2Q
EPS Next Y20.68%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)0.7%
Revenue growth 3Y13.74%
Revenue growth 5Y
Revenue growth Q2Q
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y