VAIL RESORTS INC (MTN) Stock Fundamental Analysis
NYSE:MTN - New York Stock Exchange, Inc. - US91879Q1094 - Common Stock - Currency: USD
Taking everything into account, MTN scores 5 out of 10 in our fundamental rating. MTN was compared to 134 industry peers in the Hotels, Restaurants & Leisure industry. MTN has a medium profitability rating, but doesn't score so well on its financial health evaluation. 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.
MTN had a positive operating cash flow in the past year.
Each year in the past 5 years MTN has been profitable.
In the past 5 years MTN always reported a positive cash flow from operatings.
1.2 Ratios
MTN has a Return On Assets of 4.69%. This is in the better half of the industry: MTN outperforms 68.66% of its industry peers.
With an excellent Return On Equity value of 48.87%, MTN belongs to the best of the industry, outperforming 94.03% of the companies in the same industry.
MTN's Return On Invested Capital of 10.29% is fine compared to the rest of the industry. MTN outperforms 74.63% 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 13.88%.
The last Return On Invested Capital (10.29%) for MTN is above the 3 year average (8.00%), which is a sign of increasing profitability.
| 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
With a decent Profit Margin value of 8.80%, MTN is doing good in the industry, outperforming 69.40% of the companies in the same industry.
In the last couple of years the Profit Margin of MTN has declined.
MTN has a better Operating Margin (17.71%) than 74.63% of its industry peers.
In the last couple of years the Operating Margin of MTN has declined.
MTN's Gross Margin of 42.81% is in line compared to the rest of the industry. MTN outperforms 40.30% of its industry peers.
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 | 17.71% | ||
| 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
The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so MTN is still creating some value.
Compared to 1 year ago, MTN has less shares outstanding
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
Based on the Altman-Z score of 1.54, we must say that MTN is in the distress zone and has some risk of bankruptcy.
MTN has a Altman-Z score (1.54) which is comparable to the rest of the industry.
The Debt to FCF ratio of MTN is 6.80, which is on the high side as it means it would take MTN, 6.80 years of fcf income to pay off all of its debts.
MTN has a Debt to FCF ratio of 6.80. This is in the better half of the industry: MTN outperforms 70.15% of its industry peers.
MTN has a Debt/Equity ratio of 3.99. This is a high value indicating a heavy dependency on external financing.
With a Debt to Equity ratio value of 3.99, MTN perfoms like the industry average, outperforming 44.78% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 3.99 | ||
| Debt/FCF | 6.8 | ||
| Altman-Z | 1.54 |
ROIC/WACC1.23
WACC8.37%
2.3 Liquidity
MTN has a Current Ratio of 0.47. This is a bad value and indicates that MTN is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Current ratio, with a value of 0.47, MTN is doing worse than 74.63% of the companies in the same industry.
MTN has a Quick Ratio of 0.47. This is a bad value and indicates that MTN is not financially healthy enough and could expect problems in meeting its short term obligations.
With a Quick ratio value of 0.40, MTN is not doing good in the industry: 74.63% 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.
MTN shows a small growth in Revenue. In the last year, the Revenue has grown by 3.57%.
MTN shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 4.90% yearly.
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 13.33% yearly.
The Revenue is expected to grow by 3.68% on average over the next years.
EPS Next Y27.05%
EPS Next 2Y15.04%
EPS Next 3Y13.33%
EPS Next 5YN/A
Revenue Next Year3.54%
Revenue Next 2Y3.86%
Revenue Next 3Y3.68%
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 23.82, the valuation of MTN can be described as rather expensive.
MTN's Price/Earnings ratio is a bit cheaper when compared to the industry. MTN is cheaper than 61.94% of the companies in the same industry.
MTN is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 26.19, which is the current average of the S&P500 Index.
MTN is valuated rather expensively with a Price/Forward Earnings ratio of 20.36.
MTN's Price/Forward Earnings ratio is in line with the industry average.
MTN's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 22.13.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 23.82 | ||
| Fwd PE | 20.36 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, MTN is valued a bit cheaper than the industry average as 64.93% of the companies are valued more expensively.
Based on the Price/Free Cash Flow ratio, MTN is valued cheaper than 82.09% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 15.27 | ||
| EV/EBITDA | 10.26 |
4.3 Compensation for Growth
MTN's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap 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 13.33% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.88
PEG (5Y)N/A
EPS Next 2Y15.04%
EPS Next 3Y13.33%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 6.12%, MTN is a good candidate for dividend investing.
MTN's Dividend Yield is rather good when compared to the industry average which is at 3.87. MTN pays more dividend than 94.03% of the companies in the same industry.
MTN's Dividend Yield is rather good when compared to the S&P500 average which is at 2.40.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.12% |
5.2 History
The dividend of MTN has a limited annual growth rate of 5.81%.
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)5.81%
Div Incr Years2
Div Non Decr Years3
5.3 Sustainability
128.40% of the earnings are spent on dividend by MTN. 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 2Y15.04%
EPS Next 3Y13.33%
162.47
-2.17 (-1.32%)
Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Services
GICS IndustryHotels, Restaurants & Leisure
Earnings (Last)
Earnings (Next)
Inst Owners106.66%
Inst Owner Change-0.67%
Ins Owners1.14%
Ins Owner Change0.25%
Market Cap6.07B
Analysts68.89
Price Target186.52 (14.8%)
Short Float %5.13%
Short Ratio2.75
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.12% |
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)-5.03%
PT rev (3m)-10.48%
EPS NQ rev (1m)-1.03%
EPS NQ rev (3m)-3.15%
EPS NY rev (1m)-0.64%
EPS NY rev (3m)-0.58%
Revenue NQ rev (1m)-0.38%
Revenue NQ rev (3m)-1.34%
Revenue NY rev (1m)-0.1%
Revenue NY rev (3m)-0.95%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 23.82 | ||
| Fwd PE | 20.36 | ||
| P/S | 2.06 | ||
| P/FCF | 15.27 | ||
| P/OCF | 9.72 | ||
| P/B | 11.43 | ||
| P/tB | N/A | ||
| EV/EBITDA | 10.26 |
EPS(TTM)6.82
EY4.2%
EPS(NY)7.98
Fwd EY4.91%
FCF(TTM)10.64
FCFY6.55%
OCF(TTM)16.72
OCFY10.29%
SpS78.9
BVpS14.21
TBVpS-37.2
PEG (NY)0.88
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 | 1.54 |
F-Score8
WACC8.37%
ROIC/WACC1.23
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 Y27.05%
EPS Next 2Y15.04%
EPS Next 3Y13.33%
EPS Next 5YN/A
Revenue 1Y (TTM)3.57%
Revenue growth 3Y14.75%
Revenue growth 5Y4.9%
Sales Q2Q%5.48%
Revenue Next Year3.54%
Revenue Next 2Y3.86%
Revenue Next 3Y3.68%
Revenue Next 5YN/A
EBIT growth 1Y7.01%
EBIT growth 3Y21.66%
EBIT growth 5Y1.08%
EBIT Next Year69.61%
EBIT Next 3Y22.8%
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%