Vail Resorts, Inc. (MTN) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 |
|---|
| Cash from Operations | 70.82M | 259.91M | 315.94M | -171.56M | 117.75M | 326.26M | 282.42M | -94.24M | 109.85M | 242.66M | 328.5M | -87.32M | 121.39M | 272.5M | 332.99M | -62.48M | 161.66M | 262.31M | 349.02M | -25.89M |
| Operating CF Margin % | 5.88% | 23.98% | 116.57% | -63.24% | 9.09% | 28.69% | 108.51% | -35.51% | 8.56% | 22.51% | 127.05% | -32.37% | 9.8% | 24.73% | 119.16% | -23.39% | 13.74% | 28.94% | 198.79% | -12.68% |
| Operating CF Growth % | -39.86% | -20.34% | 11.87% | -82.05% | 7.19% | 34.45% | -14.03% | -7.92% | -9.5% | -10.95% | -1.35% | -39.75% | -24.91% | 3.89% | -4.59% | -141.38% | 75.58% | -24.42% | 211.65% | 64.06% |
| Net Income | 340.22M | 225.84M | -196.46M | -192.91M | 414.33M | 258.1M | -181.54M | -181.86M | 362M | 219.3M | -183.05M | -134.62M | 343.17M | 220.12M | -143.56M | -109.66M | 386.58M | 233.93M | -142.52M | -144.94M |
| Depreciation & Amortization | 77.22M | 74.35M | 73.12M | 77.08M | 74.62M | 73.11M | 71.63M | 71.88M | 68.49M | 69.4M | 66.73M | 68.8M | 69.1M | 65.99M | 64.61M | 63.18M | 65.66M | 62.07M | 61.49M | 63.22M |
| Stock-Based Compensation | 7.44M | 6.96M | 6.24M | 12.78M | 6.97M | 7.53M | 6.69M | 6.55M | 6.1M | 7.34M | 6.8M | 6.35M | 5.87M | 6.8M | 6.34M | 5.95M | 6.03M | 6.48M | 6.42M | 5.88M |
| Deferred Taxes | 105.57M | 60.62M | -60.62M | -180.08M | 131.04M | 58.25M | -58.25M | -139.51M | 129.28M | 87.49M | -65.16M | -119.68M | 123.8M | 79.03M | -58.01M | -136.84M | 118.23M | 65.82M | -56.6M | -85.2M |
| Other Non-Cash Items | -89.64M | 18.39M | -3.64M | 6.28M | -19.46M | 384.32M | -11.15M | 10.4M | 47.07M | 14.06M | 8.22M | 11.29M | 40.33M | -5.97M | 8.62M | -32.41M | -5.97M | 21M | -2.83M | 11.96M |
| Working Capital Changes | -370M | -126.26M | 497.29M | 105.29M | -489.75M | -455.04M | 455.04M | 138.3M | -503.08M | -154.92M | 494.96M | 80.55M | -460.88M | -93.47M | 454.98M | 147.29M | -408.88M | -126.99M | 483.06M | 123.19M |
| Change in Receivables | -195.28M | -59.43M | 284.94M | -46.44M | -211.24M | -12.14M | 263.12M | -24.02M | -198.28M | -37.13M | 272.31M | -28.42M | -194.13M | -37.49M | 264.29M | -116.24M | -101.03M | -58.5M | 236.75M | -137.46M |
| Change in Inventory | 12.57M | 14.42M | -37.33M | -2.62M | 18.67M | 19.26M | -34.12M | -10.42M | 26.32M | 24.08M | -26.79M | -28.27M | 17.81M | 18.96M | -31.92M | -16.16M | 11.74M | -522K | -23.11M | -7.9M |
| Change in Payables | -87.38M | 122.36M | -20.2M | -36.23M | -49.42M | 116.91M | -12.86M | 7.91M | -89.11M | 91.35M | -773K | -5.33M | -98.43M | 93.74M | 2.51M | -4.97M | -43.46M | 77.34M | 12.16M | 32.7M |
| Cash from Investing | -32.94M | -74.33M | -71.67M | -49.02M | -27.46M | -57.01M | -71.01M | -150.18M | -24.81M | -71.64M | 5.57M | -51.91M | -15.23M | -71.49M | -134.53M | -92.35M | -30.03M | -185.68M | -39.86M | -28.31M |
| Capital Expenditures | -35.06M | -74.91M | -71.67M | -55.94M | -33.22M | -75.01M | -71.02M | -56.09M | -24.82M | -76.91M | -53.38M | -53.65M | -54.7M | -82.45M | -124.1M | -30.98M | -32.99M | -78.72M | -50.13M | -29.5M |
| CapEx % of Revenue | 2.91% | 6.91% | 26.44% | 20.62% | 2.56% | 6.6% | 27.29% | 21.13% | 1.93% | 7.13% | 20.64% | 19.89% | 4.42% | 7.48% | 44.41% | 11.6% | 2.8% | 8.68% | 28.55% | 14.45% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -94.36M | 0 | 0 | 0 | -190.44M | 0 | 0 | 75.94M | -114.41M | 1.76M | -118.1M | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 2.12M | 583K | 0 | 6.93M | 5.76M | 18M | 11K | 57.91M | 12K | 58K | 6.51M | 1.75M | 1.49M | 10.96M | 385K | 53.04M | 1.19M | 11.15M | 10.27M | 1.19M |
| Cash from Financing | 7.88M | -392.18M | -100.98M | 194.9M | -134.8M | -170.44M | -132.3M | -141.35M | -182.26M | -97.57M | -153.61M | -212.53M | -501.8M | -96.75M | -104.63M | -140.48M | -131.96M | -135.96M | -84.73M | -39.65M |
| Debt Issued (Net) | 100M | -262.3M | -12.3M | 487.69M | -12.3M | -60.3M | -12.3M | -8.98M | -15.63M | -15.63M | -15.63M | -27.01M | -15.63M | -15.63M | -15.63M | -25.11M | -15.63M | -67.13M | -38.77M | -10.6M |
| Equity Issued (Net) | 0 | -45M | 0 | -200M | -30M | -20M | -20M | -25.03M | -75M | -94K | -50M | -100.13M | -400M | 0 | 0 | -37.37M | -37.5M | -26.79M | 0 | -29.82M |
| Dividends Paid | -79.11M | -79.1M | -79.81M | -79.71M | -82.48M | -82.83M | -83.14M | -83.22M | -83.79M | -78.21M | -78.47M | -78.7M | -81.61M | -77.03M | -77.02M | -76.94M | -77.51M | -35.74M | -35.59M | 0 |
| Share Repurchases | 0 | -45M | 0 | -200M | -30M | -20M | -20M | -25M | -75M | -94K | -50M | -100M | -400M | 0 | 0 | -37.5M | -37.63M | -26.79M | 0 | -29.82M |
| Other Financing | -13.01M | -5.77M | -8.86M | -13.08M | -10.02M | -7.31M | -16.85M | -24.12M | -7.84M | -3.64M | -9.51M | -6.69M | -4.57M | -4.09M | -11.98M | -1.06M | -1.32M | -6.3M | -10.37M | 772K |
| Net Change in Cash | 46.68M | -194.75M | 144.17M | -24.39M | -23.74M | 86.11M | 81.38M | -379.82M | -108.61M | 85.1M | 167.3M | -345.54M | -400.72M | 118.29M | 74.96M | -295.86M | -699K | -60.2M | 224.29M | -97.81M |
| Free Cash Flow | 35.76M | 185M | 244.27M | -227.5M | 84.53M | 251.25M | 211.41M | -150.33M | 85.03M | 165.75M | 275.12M | -140.97M | 66.69M | 190.05M | 208.89M | -93.46M | 128.67M | 183.58M | 298.89M | -55.39M |
| FCF Margin % | 2.97% | 17.07% | 90.13% | -83.86% | 6.52% | 22.09% | 81.22% | -56.64% | 6.63% | 15.38% | 106.4% | -52.26% | 5.38% | 17.25% | 74.75% | -34.99% | 10.93% | 20.25% | 170.23% | -27.12% |
| FCF Growth % | -57.69% | -26.37% | 15.54% | -51.34% | -0.59% | 51.58% | -23.16% | -6.63% | 27.51% | -12.78% | 31.7% | -50.84% | -48.17% | 3.52% | -30.11% | -68.73% | 74.32% | -40.76% | 265.28% | 43.82% |
| FCF per Share | 1.00 | 5.15 | 6.80 | -6.23 | 2.27 | 6.72 | 5.64 | -4.00 | 2.24 | 4.36 | 7.22 | -3.67 | 1.68 | 4.70 | 5.18 | -2.32 | 3.16 | 4.50 | 7.39 | -1.37 |
| FCF Conversion (FCF/Net Income) | 0.21x | 1.24x | -1.69x | 0.93x | 0.30x | 1.33x | -1.63x | 0.54x | 0.30x | 1.11x | -1.87x | 0.68x | 0.37x | 1.31x | -2.43x | 0.57x | 0.43x | 1.17x | -2.50x | 0.18x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |