Vail Resorts

MTN

Market cap $5.29B

Investors interested in stocks from the Leisure and Recreation Services sector have probably already heard of Norwegian Cruise Line (NCLH) and Vail Resorts (MTN). But which of these two stocks is more attractive to value investors?

Vail Resorts (MTN 2.96%) recently reported its fiscal fourth-quarter results (for the period ended July 31) and provided an initial outlook for fiscal 2026, giving investors several important updates. The company, known for its Epic Pass and a resort portfolio that includes Vail Mountain, Breckenridge, Park City, and Whistler Blackcomb, also maintained its quarterly dividend at $2.22 per share.

Vail Resorts remains a Hold as weak visitation, soft per-guest spend, and macro headwinds pressure earnings and justify a discounted valuation. MTN's cost efficiency plan, Epic Friend Tickets, dynamic pricing, and digital marketing initiatives offer long-term promise but need time to show results. Recent data shows Epic Pass sales down 3% and guest mix shifting away from higher-spending visitors, signaling continued near-term challenges for MTN.

Vail Resorts is overcoming labor shortages and weather challenges, delivering strong cash flow yields and a 6% dividend. MTN consistently demonstrates pricing power, with the market absorbing necessary price increases to maintain robust cash flow. Owning premier mountain resorts globally, MTN faces little competition as skiers have limited alternatives.

Jim Cramer breaks down why he's keeping an eye on shares of Vail Resorts.

Vail Resorts reported a decline in skier visits in its 2025 fiscal year. The company said pass sales for the coming season were also down year-over-year.

Vail Resorts, Inc. (NYSE:MTN ) Q4 2025 Earnings Call September 29, 2025 5:00 PM EDT Company Participants Angela Korch - Executive VP & CFO Robert Katz - CEO & Executive Chairman Conference Call Participants Shaun Kelley - BofA Securities, Research Division David Katz - Jefferies LLC, Research Division Jeffrey Stantial - Stifel, Nicolaus & Company, Incorporated, Research Division Stephen Grambling - Morgan Stanley, Research Division Laurent Vasilescu - BNP Paribas Exane, Research Division Charles Scholes - Truist Securities, Inc., Research Division Arpine Kocharyan - UBS Investment Bank, Research Division Benjamin Chaiken - Mizuho Securities USA LLC, Research Division Brandt Montour - Barclays Bank PLC, Research Division Chris Woronka - Deutsche Bank AG, Research Division Presentation Operator Good afternoon, and welcome to the Vail Resorts Fiscal 2025 Year-End Earnings Conference Call. Today's conference is being recorded.

Vail Resorts faces ongoing challenges with weak demand, rising costs, and underwhelming financial results but offers a high 6% dividend yield. MTN's fiscal 2026 is expected to be a transition year, with modest revenue and EBITDA growth, as management refocuses on lift ticket sales and digital marketing. Despite slow growth, MTN maintains a strong balance sheet, ongoing buybacks, and a free cash flow yield above 7%, supporting continued capital returns.

While the top- and bottom-line numbers for Vail Resorts (MTN) give a sense of how the business performed in the quarter ended July 2025, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Vail Resorts (MTN) came out with a quarterly loss of $5.08 per share versus the Zacks Consensus Estimate of a loss of $4.75. This compares to a loss of $4.67 per share a year ago.