Vail Resorts, Inc. (MTN) FY2026 Annual Statement of Cash Flows
2025-08-01 to 2026-07-31
Statement of Cash Flows
2025-08-01 to 2026-07-31
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Chart details
Vail Resorts, Inc. cash flow reconciliation, Aug 1, 2025 through Jul 31, 2026
Cash flows for Aug 1, 2025 through Jul 31, 2026. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Jul 31, 2025. Ending cash: Jul 31, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.
- Beginning cash on Jul 31, 2025
- 456,419,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
- Operating activities
- 479,626,000 US dollars. Net cash provided.
- Net income
- 170,744,000 US dollars
- Depreciation and amortization
- 305,610,000 US dollars
- Stock-based compensation expense
- 28,164,000 US dollars
- Deferred income taxes, net
- negative 1,784,000 US dollars
- Loss (gain) on disposal of fixed assets and other, net
- 6,823,000 US dollars
- Change in estimated fair value of contingent consideration
- 19,239,000 US dollars
- Other non-cash income, net
- negative 12,148,000 US dollars
- Accounts receivables, net
- 30,642,000 US dollars
- Inventories, net
- negative 16,918,000 US dollars
- Accounts payable and accrued liabilities
- 15,802,000 US dollars
- Deferred revenue
- negative 39,564,000 US dollars
- Income taxes payable
- negative 12,003,000 US dollars
- Other assets and liabilities, net
- negative 14,981,000 US dollars
- Investing activities
- negative 265,962,000 US dollars. Net cash used.
- Capital expenditures
- negative 231,625,000 US dollars
- Acquisition of businesses, net of cash acquired
- 0 US dollars
- Purchases of short-term certificates of deposit
- negative 75,445,000 US dollars
- Maturity of short-term certificates of deposit
- 38,334,000 US dollars
- Cash received from disposal of fixed assets
- 2,482,000 US dollars
- Other investing activities, net
- 292,000 US dollars
- Financing activities
- negative 421,040,000 US dollars. Net cash used.
- Proceeds from borrowings under 5.625% Notes
- 0 US dollars
- Proceeds from borrowings under 6.50% Notes
- 0 US dollars
- Proceeds from borrowings under Vail Holdings Credit Agreement
- 669,063,000 US dollars
- Repayments of borrowings under 6.25% Notes
- 0 US dollars
- Repayments of borrowings under Vail Holdings Credit Agreement
- negative 156,484,000 US dollars
- Repurchases of 0.0% Convertible Notes
- negative 525,000,000 US dollars
- Dividends paid
- negative 317,131,000 US dollars
- Repurchases of common stock
- negative 45,000,000 US dollars
- Employee taxes paid for share award exercises
- negative 4,202,000 US dollars
- Other financing activities, net
- negative 42,286,000 US dollars
- Operating adjustment reconciliation
- 406,280,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
- financing gross reconciliation
- 1,090,103,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
- investing gross reconciliation
- 307,070,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
- Exchange-rate effect
- negative 2,019,000 US dollars
- Ending cash on Jul 31, 2026
- 247,024,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
- Cash sources and uses
- 936,045,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
- Net cash change
- negative 209,395,000 US dollars. Ending cash minus beginning cash.
- Cash flow / Net income
- 2.81×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
- Operating cash flow
- 479,626,000 US dollars. Operating cash flow used in the free cash flow calculation.
- cash spent on productive assets
- 231,625,000 US dollars. These cash purchases are already included in investing activities above.
- Free cash flow
- 248,001,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.
Chart connections
- Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
- Financing contributions meet at a reconciliation junction before connecting to the net cash total.
- Investing contributions meet at a reconciliation junction before connecting to the net cash total.
- Operating reconciliation adjustments are not all independent cash receipts.
- Net income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $308.88M after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
- Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
- The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
- Operating cash flow minus cash spent on productive assets equals free cash flow: 479,626,000 US dollars minus 231,625,000 US dollars equals 248,001,000 US dollars.
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