VAIL RESORTS INC (MTN) Stock Fundamental Analysis
NYSE:MTN - New York Stock Exchange, Inc. - US91879Q1094 - Common Stock - Currency: USD
Overall MTN gets a fundamental rating of 5 out of 10. We evaluated MTN against 136 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. MTN also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
MTN had positive earnings in the past year.
MTN had a positive operating cash flow in the past year.
In the past 5 years MTN has always been profitable.
MTN had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
With a decent Return On Assets value of 4.69%, MTN is doing good in the industry, outperforming 68.38% of the companies in the same industry.
MTN's Return On Equity of 48.87% is amongst the best of the industry. MTN outperforms 93.38% of its industry peers.
MTN has a Return On Invested Capital of 10.29%. This is in the better half of the industry: MTN outperforms 74.26% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for MTN is significantly below the industry average of 14.23%.
The 3 year average ROIC (8.00%) for MTN is below the current ROIC(10.29%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.69% | ||
| ROE | 48.87% | ||
| ROIC | 10.29% |
ROA(3y)4.69%
ROA(5y)3.6%
ROE(3y)26.71%
ROE(5y)19.13%
ROIC(3y)8%
ROIC(5y)6.38%
1.3 Margins
The Profit Margin of MTN (8.80%) is better than 71.32% of its industry peers.
MTN's Profit Margin has declined in the last couple of years.
MTN has a Operating Margin of 17.71%. This is in the better half of the industry: MTN outperforms 73.53% of its industry peers.
MTN's Operating Margin has declined in the last couple of years.
Looking at the Gross Margin, with a value of 42.81%, MTN is in line with its industry, outperforming 40.44% of the companies in the same industry.
MTN's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 17.71% | ||
| PM (TTM) | 8.8% | ||
| GM | 42.81% |
OM growth 3Y6.03%
OM growth 5Y-3.64%
PM growth 3Y6.04%
PM growth 5Y-9.64%
GM growth 3Y-0.65%
GM growth 5Y0.79%
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.
The number of shares outstanding for MTN has been reduced compared to 1 year ago.
MTN has less shares outstanding than it did 5 years ago.
MTN has a worse debt/assets ratio than last year.
2.2 Solvency
MTN has an Altman-Z score of 1.43. This is a bad value and indicates that MTN is not financially healthy and even has some risk of bankruptcy.
MTN has a Altman-Z score (1.43) which is in line with its industry peers.
MTN has a debt to FCF ratio of 6.80. This is a slightly negative value and a sign of low solvency as MTN would need 6.80 years to pay back of all of its debts.
MTN has a better Debt to FCF ratio (6.80) than 68.38% of its industry peers.
A Debt/Equity ratio of 3.99 is on the high side and indicates that MTN has dependencies on debt financing.
MTN has a Debt to Equity ratio (3.99) which is in line with its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 3.99 | ||
| Debt/FCF | 6.8 | ||
| Altman-Z | 1.43 |
ROIC/WACC1.25
WACC8.21%
2.3 Liquidity
A Current Ratio of 0.47 indicates that MTN may have some problems paying its short term obligations.
Looking at the Current ratio, with a value of 0.47, MTN is doing worse than 75.00% of the companies in the same industry.
A Quick Ratio of 0.40 indicates that MTN may have some problems paying its short term obligations.
With a Quick ratio value of 0.40, MTN is not doing good in the industry: 75.00% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.47 | ||
| Quick Ratio | 0.4 |
3. Growth
3.1 Past
MTN shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 13.86%, which is quite good.
Measured over the past years, MTN shows a decrease in Earnings Per Share. The EPS has been decreasing by -3.88% on average per year.
The Revenue has been growing slightly by 3.57% in the past year.
The Revenue has been growing slightly by 4.90% on average over the past years.
EPS 1Y (TTM)13.86%
EPS 3Y25.78%
EPS 5Y-3.88%
EPS Q2Q%13.89%
Revenue 1Y (TTM)3.57%
Revenue growth 3Y14.75%
Revenue growth 5Y4.9%
Sales Q2Q%5.48%
3.2 Future
MTN is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 13.63% yearly.
The Revenue is expected to grow by 3.78% on average over the next years.
EPS Next Y27.87%
EPS Next 2Y15.58%
EPS Next 3Y13.63%
EPS Next 5YN/A
Revenue Next Year3.64%
Revenue Next 2Y3.92%
Revenue Next 3Y3.78%
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
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 20.15, the valuation of MTN can be described as rather expensive.
Compared to the rest of the industry, the Price/Earnings ratio of MTN indicates a somewhat cheap valuation: MTN is cheaper than 67.65% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of MTN to the average of the S&P500 Index (24.29), we can say MTN is valued inline with the index average.
MTN is valuated rather expensively with a Price/Forward Earnings ratio of 17.06.
Based on the Price/Forward Earnings ratio, MTN is valued a bit cheaper than the industry average as 68.38% of the companies are valued more expensively.
The average S&P500 Price/Forward Earnings ratio is at 20.42. MTN is around the same levels.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 20.15 | ||
| Fwd PE | 17.06 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of MTN indicates a somewhat cheap valuation: MTN is cheaper than 66.18% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, MTN is valued cheaply inside the industry as 83.09% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 12.92 | ||
| EV/EBITDA | 9.1 |
4.3 Compensation for Growth
The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The decent profitability rating of MTN may justify a higher PE ratio.
A more expensive valuation may be justified as MTN's earnings are expected to grow with 13.63% in the coming years.
PEG (NY)0.72
PEG (5Y)N/A
EPS Next 2Y15.58%
EPS Next 3Y13.63%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 6.35%, MTN is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 3.60, MTN pays a better dividend. On top of this MTN pays more dividend than 94.12% of the companies listed in the same industry.
MTN's Dividend Yield is rather good when compared to the S&P500 average which is at 2.43.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.35% |
5.2 History
The dividend of MTN has a limited annual growth rate of 5.81%.
MTN has been paying a dividend for at least 10 years, so it has a reliable track record.
MTN has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)5.81%
Div Incr Years2
Div Non Decr Years3
5.3 Sustainability
MTN pays out 128.40% 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.
DP128.4%
EPS Next 2Y15.58%
EPS Next 3Y13.63%
137.44
-2.75 (-1.96%)
Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Services
GICS IndustryHotels, Restaurants & Leisure
Earnings (Last)
Earnings (Next)
Inst Owners106.66%
Inst Owner Change-0.47%
Ins Owners1.14%
Ins Owner Change0.18%
Market Cap5.13B
Analysts68.89
Price Target194.08 (41.21%)
Short Float %5.33%
Short Ratio2.83
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.35% |
Yearly Dividend8.55
Dividend Growth(5Y)5.81%
DP128.4%
Div Incr Years2
Div Non Decr Years3
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)5.74%
Min EPS beat(2)2.92%
Max EPS beat(2)8.57%
EPS beat(4)2
Avg EPS beat(4)-0.71%
Min EPS beat(4)-9.05%
Max EPS beat(4)8.57%
EPS beat(8)2
Avg EPS beat(8)-2.23%
EPS beat(12)5
Avg EPS beat(12)-1.92%
EPS beat(16)8
Avg EPS beat(16)-1.15%
Revenue beat(2)1
Avg Revenue beat(2)0.17%
Min Revenue beat(2)-1.13%
Max Revenue beat(2)1.46%
Revenue beat(4)1
Avg Revenue beat(4)-0.73%
Min Revenue beat(4)-2.56%
Max Revenue beat(4)1.46%
Revenue beat(8)1
Avg Revenue beat(8)-3.04%
Revenue beat(12)5
Avg Revenue beat(12)-1.01%
Revenue beat(16)6
Avg Revenue beat(16)-0.62%
PT rev (1m)-1.18%
PT rev (3m)-6.85%
EPS NQ rev (1m)-1.03%
EPS NQ rev (3m)-3.15%
EPS NY rev (1m)0%
EPS NY rev (3m)0.06%
Revenue NQ rev (1m)-0.38%
Revenue NQ rev (3m)-1.34%
Revenue NY rev (1m)-0.1%
Revenue NY rev (3m)-0.85%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 20.15 | ||
| Fwd PE | 17.06 | ||
| P/S | 1.74 | ||
| P/FCF | 12.92 | ||
| P/OCF | 8.22 | ||
| P/B | 9.67 | ||
| P/tB | N/A | ||
| EV/EBITDA | 9.1 |
EPS(TTM)6.82
EY4.96%
EPS(NY)8.05
Fwd EY5.86%
FCF(TTM)10.64
FCFY7.74%
OCF(TTM)16.72
OCFY12.16%
SpS78.9
BVpS14.21
TBVpS-37.2
PEG (NY)0.72
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.69% | ||
| ROE | 48.87% | ||
| ROCE | 13.94% | ||
| ROIC | 10.29% | ||
| ROICexc | 11.84% | ||
| ROICexgc | 28.84% | ||
| OM | 17.71% | ||
| PM (TTM) | 8.8% | ||
| GM | 42.81% | ||
| FCFM | 13.49% |
ROA(3y)4.69%
ROA(5y)3.6%
ROE(3y)26.71%
ROE(5y)19.13%
ROIC(3y)8%
ROIC(5y)6.38%
ROICexc(3y)9.28%
ROICexc(5y)7.46%
ROICexgc(3y)17.98%
ROICexgc(5y)14.59%
ROCE(3y)10.84%
ROCE(5y)8.64%
ROICexcg growth 3Y15.03%
ROICexcg growth 5Y-4.88%
ROICexc growth 3Y19.4%
ROICexc growth 5Y-2.28%
OM growth 3Y6.03%
OM growth 5Y-3.64%
PM growth 3Y6.04%
PM growth 5Y-9.64%
GM growth 3Y-0.65%
GM growth 5Y0.79%
F-Score8
Asset Turnover0.53
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 3.99 | ||
| Debt/FCF | 6.8 | ||
| Debt/EBITDA | 2.62 | ||
| Cap/Depr | 79.6% | ||
| Cap/Sales | 7.7% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 77.36% | ||
| Profit Quality | 153.23% | ||
| Current Ratio | 0.47 | ||
| Quick Ratio | 0.4 | ||
| Altman-Z | 1.43 |
F-Score8
WACC8.21%
ROIC/WACC1.25
Cap/Depr(3y)90.02%
Cap/Depr(5y)76.93%
Cap/Sales(3y)8.62%
Cap/Sales(5y)8.13%
Profit Quality(3y)144.31%
Profit Quality(5y)195.81%
High Growth Momentum
Growth
EPS 1Y (TTM)13.86%
EPS 3Y25.78%
EPS 5Y-3.88%
EPS Q2Q%13.89%
EPS Next Y27.87%
EPS Next 2Y15.58%
EPS Next 3Y13.63%
EPS Next 5YN/A
Revenue 1Y (TTM)3.57%
Revenue growth 3Y14.75%
Revenue growth 5Y4.9%
Sales Q2Q%5.48%
Revenue Next Year3.64%
Revenue Next 2Y3.92%
Revenue Next 3Y3.78%
Revenue Next 5YN/A
EBIT growth 1Y7.01%
EBIT growth 3Y21.66%
EBIT growth 5Y1.08%
EBIT Next Year70.17%
EBIT Next 3Y22.82%
EBIT Next 5YN/A
FCF growth 1Y-8.48%
FCF growth 3Y-2.9%
FCF growth 5Y-3.21%
OCF growth 1Y-11.41%
OCF growth 3Y3.76%
OCF growth 5Y-1.54%