Vail Resorts FY26 net income drops 47% to $147.54 million
MTN•Vail Resorts reported FY26 net income attributable to shareholders of $147.54 million, down 47% from FY25. Pass product unit sales through Sept. 18 for the 2026/2027 North American season fell 12%, while sales dollars declined 6%.
1. FY26 results
Vail Resorts’ FY26 net income attributable to shareholders fell 47% to $147.54 million. Income before income taxes declined 44% to $226.96 million, while net interest expense rose 20% to $205.62 million. Operating cash flow decreased 14% to $479.63 million, and cash and cash equivalents ended the fiscal year at $231.35 million.
2. Pass sales
Through Sept. 18, pass product unit sales for the 2026/2027 North American season were down 12%, while sales dollars, including sales and admissions taxes, declined 6%.
