Intrinsic value of Vail Resorts - MTN

Previous Close

$228.51

  Intrinsic Value

$222.90

stock screener

  Rating & Target

hold

-2%

Previous close

$228.51

 
Intrinsic value

$222.90

 
Up/down potential

-2%

 
Rating

hold

We calculate the intrinsic value of MTN stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 9.1

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2017(a)
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  19.11
  16.10
  14.99
  13.99
  13.09
  12.28
  11.55
  10.90
  10.31
  9.78
  9.30
  8.87
  8.48
  8.13
  7.82
  7.54
  7.29
  7.06
  6.85
  6.67
  6.50
  6.35
  6.21
  6.09
  5.98
  5.89
  5.80
  5.72
  5.65
  5.58
  5.52
Revenue, $m
  1,907
  2,214
  2,546
  2,902
  3,282
  3,685
  4,111
  4,559
  5,029
  5,521
  6,034
  6,569
  7,127
  7,707
  8,309
  8,936
  9,587
  10,263
  10,966
  11,698
  12,458
  13,249
  14,072
  14,930
  15,823
  16,754
  17,725
  18,739
  19,797
  20,901
  22,056
Variable operating expenses, $m
 
  1,494
  1,696
  1,912
  2,142
  2,386
  2,644
  2,916
  3,201
  3,499
  3,811
  3,983
  4,321
  4,672
  5,038
  5,418
  5,812
  6,223
  6,649
  7,092
  7,553
  8,033
  8,532
  9,052
  9,593
  10,158
  10,747
  11,361
  12,003
  12,672
  13,372
Fixed operating expenses, $m
 
  230
  235
  241
  247
  253
  260
  266
  273
  280
  287
  294
  301
  309
  317
  324
  333
  341
  349
  358
  367
  376
  386
  395
  405
  415
  426
  436
  447
  458
  470
Total operating expenses, $m
  1,528
  1,724
  1,931
  2,153
  2,389
  2,639
  2,904
  3,182
  3,474
  3,779
  4,098
  4,277
  4,622
  4,981
  5,355
  5,742
  6,145
  6,564
  6,998
  7,450
  7,920
  8,409
  8,918
  9,447
  9,998
  10,573
  11,173
  11,797
  12,450
  13,130
  13,842
Operating income, $m
  379
  490
  615
  749
  893
  1,045
  1,207
  1,377
  1,555
  1,742
  1,937
  2,293
  2,505
  2,725
  2,955
  3,194
  3,442
  3,700
  3,968
  4,247
  4,538
  4,840
  5,155
  5,483
  5,824
  6,181
  6,553
  6,941
  7,347
  7,771
  8,214
EBITDA, $m
  568
  781
  927
  1,083
  1,251
  1,428
  1,616
  1,814
  2,022
  2,240
  2,467
  2,704
  2,951
  3,208
  3,476
  3,754
  4,042
  4,343
  4,655
  4,980
  5,318
  5,670
  6,036
  6,418
  6,816
  7,231
  7,663
  8,115
  8,587
  9,080
  9,596
Interest expense (income), $m
  46
  58
  77
  97
  119
  143
  168
  194
  222
  251
  281
  313
  346
  380
  416
  453
  492
  532
  573
  617
  662
  709
  758
  808
  861
  916
  974
  1,034
  1,096
  1,161
  1,230
Earnings before tax, $m
  348
  432
  538
  652
  773
  903
  1,039
  1,183
  1,333
  1,491
  1,656
  1,980
  2,159
  2,345
  2,539
  2,741
  2,950
  3,168
  3,395
  3,630
  3,876
  4,131
  4,397
  4,674
  4,963
  5,265
  5,579
  5,908
  6,251
  6,609
  6,984
Tax expense, $m
  116
  117
  145
  176
  209
  244
  281
  319
  360
  403
  447
  535
  583
  633
  686
  740
  797
  855
  917
  980
  1,046
  1,115
  1,187
  1,262
  1,340
  1,421
  1,506
  1,595
  1,688
  1,784
  1,886
Net income, $m
  211
  315
  393
  476
  565
  659
  758
  863
  973
  1,089
  1,209
  1,445
  1,576
  1,712
  1,854
  2,001
  2,154
  2,313
  2,478
  2,650
  2,829
  3,016
  3,210
  3,412
  3,623
  3,843
  4,073
  4,312
  4,563
  4,825
  5,098

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  117
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  4,111
  4,642
  5,337
  6,084
  6,881
  7,726
  8,618
  9,558
  10,543
  11,574
  12,650
  13,772
  14,941
  16,156
  17,420
  18,733
  20,098
  21,516
  22,991
  24,523
  26,117
  27,775
  29,501
  31,299
  33,172
  35,124
  37,160
  39,285
  41,502
  43,819
  46,239
Adjusted assets (=assets-cash), $m
  3,994
  4,642
  5,337
  6,084
  6,881
  7,726
  8,618
  9,558
  10,543
  11,574
  12,650
  13,772
  14,941
  16,156
  17,420
  18,733
  20,098
  21,516
  22,991
  24,523
  26,117
  27,775
  29,501
  31,299
  33,172
  35,124
  37,160
  39,285
  41,502
  43,819
  46,239
Revenue / Adjusted assets
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
  0.477
Average production assets, $m
  1,757
  2,039
  2,345
  2,673
  3,023
  3,394
  3,786
  4,199
  4,632
  5,085
  5,558
  6,050
  6,564
  7,098
  7,653
  8,230
  8,829
  9,453
  10,100
  10,773
  11,474
  12,202
  12,960
  13,750
  14,573
  15,431
  16,325
  17,258
  18,233
  19,250
  20,313
Working capital, $m
  -172
  -292
  -336
  -383
  -433
  -486
  -543
  -602
  -664
  -729
  -797
  -867
  -941
  -1,017
  -1,097
  -1,180
  -1,265
  -1,355
  -1,448
  -1,544
  -1,644
  -1,749
  -1,858
  -1,971
  -2,089
  -2,212
  -2,340
  -2,474
  -2,613
  -2,759
  -2,911
Total debt, $m
  1,272
  1,638
  2,073
  2,541
  3,039
  3,568
  4,127
  4,715
  5,332
  5,977
  6,651
  7,354
  8,085
  8,846
  9,637
  10,459
  11,313
  12,201
  13,124
  14,083
  15,081
  16,119
  17,200
  18,325
  19,498
  20,720
  21,994
  23,324
  24,713
  26,162
  27,677
Total liabilities, $m
  2,540
  2,906
  3,341
  3,809
  4,307
  4,836
  5,395
  5,983
  6,600
  7,245
  7,919
  8,622
  9,353
  10,114
  10,905
  11,727
  12,581
  13,469
  14,392
  15,351
  16,349
  17,387
  18,468
  19,593
  20,766
  21,988
  23,262
  24,592
  25,981
  27,430
  28,945
Total equity, $m
  1,571
  1,736
  1,996
  2,275
  2,573
  2,889
  3,223
  3,575
  3,943
  4,329
  4,731
  5,151
  5,588
  6,042
  6,515
  7,006
  7,517
  8,047
  8,598
  9,172
  9,768
  10,388
  11,033
  11,706
  12,406
  13,136
  13,898
  14,692
  15,522
  16,388
  17,293
Total liabilities and equity, $m
  4,111
  4,642
  5,337
  6,084
  6,880
  7,725
  8,618
  9,558
  10,543
  11,574
  12,650
  13,773
  14,941
  16,156
  17,420
  18,733
  20,098
  21,516
  22,990
  24,523
  26,117
  27,775
  29,501
  31,299
  33,172
  35,124
  37,160
  39,284
  41,503
  43,818
  46,238
Debt-to-equity ratio
  0.810
  0.940
  1.040
  1.120
  1.180
  1.230
  1.280
  1.320
  1.350
  1.380
  1.410
  1.430
  1.450
  1.460
  1.480
  1.490
  1.510
  1.520
  1.530
  1.540
  1.540
  1.550
  1.560
  1.570
  1.570
  1.580
  1.580
  1.590
  1.590
  1.600
  1.600
Adjusted equity ratio
  0.364
  0.374
  0.374
  0.374
  0.374
  0.374
  0.374
  0.374
  0.374
  0.374
  0.374
  0.374
  0.374
  0.374
  0.374
  0.374
  0.374
  0.374
  0.374
  0.374
  0.374
  0.374
  0.374
  0.374
  0.374
  0.374
  0.374
  0.374
  0.374
  0.374
  0.374

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  211
  315
  393
  476
  565
  659
  758
  863
  973
  1,089
  1,209
  1,445
  1,576
  1,712
  1,854
  2,001
  2,154
  2,313
  2,478
  2,650
  2,829
  3,016
  3,210
  3,412
  3,623
  3,843
  4,073
  4,312
  4,563
  4,825
  5,098
Depreciation, amort., depletion, $m
  189
  291
  312
  334
  358
  383
  410
  438
  467
  498
  530
  412
  447
  483
  521
  560
  601
  643
  687
  733
  781
  830
  882
  935
  991
  1,050
  1,111
  1,174
  1,240
  1,310
  1,382
Funds from operations, $m
  440
  606
  704
  810
  922
  1,042
  1,168
  1,301
  1,440
  1,586
  1,739
  1,857
  2,023
  2,195
  2,374
  2,561
  2,754
  2,956
  3,165
  3,383
  3,610
  3,846
  4,092
  4,348
  4,614
  4,893
  5,183
  5,487
  5,803
  6,134
  6,480
Change in working capital, $m
  -17
  -41
  -44
  -47
  -50
  -53
  -56
  -59
  -62
  -65
  -68
  -71
  -74
  -77
  -80
  -83
  -86
  -89
  -93
  -96
  -100
  -104
  -109
  -113
  -118
  -123
  -128
  -134
  -140
  -146
  -152
Cash from operations, $m
  457
  647
  748
  857
  972
  1,095
  1,224
  1,360
  1,503
  1,651
  1,807
  1,928
  2,096
  2,271
  2,454
  2,643
  2,840
  3,045
  3,258
  3,480
  3,710
  3,950
  4,200
  4,461
  4,732
  5,016
  5,311
  5,620
  5,943
  6,280
  6,633
Maintenance CAPEX, $m
  0
  -119
  -139
  -160
  -182
  -206
  -231
  -258
  -286
  -315
  -346
  -378
  -412
  -447
  -483
  -521
  -560
  -601
  -643
  -687
  -733
  -781
  -830
  -882
  -935
  -991
  -1,050
  -1,111
  -1,174
  -1,240
  -1,310
New CAPEX, $m
  -144
  -283
  -306
  -328
  -350
  -371
  -392
  -413
  -433
  -453
  -473
  -493
  -513
  -534
  -555
  -577
  -600
  -623
  -648
  -673
  -700
  -729
  -758
  -790
  -823
  -858
  -894
  -933
  -974
  -1,018
  -1,063
Cash from investing activities, $m
  -683
  -402
  -445
  -488
  -532
  -577
  -623
  -671
  -719
  -768
  -819
  -871
  -925
  -981
  -1,038
  -1,098
  -1,160
  -1,224
  -1,291
  -1,360
  -1,433
  -1,510
  -1,588
  -1,672
  -1,758
  -1,849
  -1,944
  -2,044
  -2,148
  -2,258
  -2,373
Free cash flow, $m
  -226
  245
  304
  369
  441
  518
  601
  690
  784
  883
  988
  1,057
  1,171
  1,291
  1,416
  1,546
  1,681
  1,821
  1,967
  2,119
  2,277
  2,441
  2,612
  2,789
  2,974
  3,167
  3,367
  3,576
  3,795
  4,022
  4,260
Issuance/(repayment) of debt, $m
  419
  404
  436
  467
  499
  529
  559
  588
  617
  645
  674
  702
  731
  761
  791
  822
  854
  888
  923
  959
  998
  1,038
  1,081
  1,125
  1,172
  1,222
  1,275
  1,330
  1,388
  1,450
  1,515
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  418
  404
  436
  467
  499
  529
  559
  588
  617
  645
  674
  702
  731
  761
  791
  822
  854
  888
  923
  959
  998
  1,038
  1,081
  1,125
  1,172
  1,222
  1,275
  1,330
  1,388
  1,450
  1,515
Total cash flow (excl. dividends), $m
  195
  648
  739
  837
  939
  1,047
  1,160
  1,278
  1,401
  1,529
  1,662
  1,759
  1,903
  2,052
  2,207
  2,368
  2,535
  2,709
  2,890
  3,079
  3,275
  3,479
  3,692
  3,915
  4,147
  4,389
  4,642
  4,906
  5,183
  5,472
  5,775
Retained Cash Flow (-), $m
  -696
  -244
  -260
  -279
  -298
  -316
  -334
  -351
  -369
  -386
  -403
  -420
  -437
  -455
  -473
  -491
  -510
  -530
  -551
  -573
  -596
  -620
  -646
  -672
  -700
  -730
  -761
  -795
  -829
  -866
  -905
Prev. year cash balance distribution, $m
 
  79
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  483
  479
  557
  641
  731
  826
  927
  1,032
  1,143
  1,259
  1,339
  1,466
  1,597
  1,734
  1,877
  2,025
  2,179
  2,339
  2,505
  2,679
  2,859
  3,047
  3,242
  3,446
  3,659
  3,880
  4,112
  4,353
  4,606
  4,870
Discount rate, %
 
  5.90
  6.20
  6.50
  6.83
  7.17
  7.53
  7.91
  8.30
  8.72
  9.15
  9.61
  10.09
  10.60
  11.13
  11.68
  12.27
  12.88
  13.52
  14.20
  14.91
  15.65
  16.44
  17.26
  18.12
  19.03
  19.98
  20.98
  22.03
  23.13
  24.29
PV of cash for distribution, $m
 
  456
  425
  461
  492
  517
  534
  544
  545
  539
  525
  488
  462
  431
  396
  358
  318
  278
  239
  201
  166
  135
  107
  83
  63
  47
  34
  24
  17
  11
  7
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Vail Resorts, Inc. is a holding company. The Company operates through three segments: Mountain, Lodging and Real Estate. Its Mountain segment operates over 10 mountain resort properties and approximately three urban ski areas, as well as ancillary services, primarily including, ski school, dining, and retail/rental operations. It operates mountain resorts and urban ski areas, such as Whistler Blackcomb in British Columbia, Canada. In the Lodging segment, it owns and/or manages a collection of luxury hotels and condominiums under its RockResorts brand, as well as other lodging properties and various condominiums; National Park Service (NPS) concessionaire properties, including the Grand Teton Lodge Company (GTLC), which operates destination resorts in Grand Teton National Park; Colorado Mountain Express (CME), and mountain resort golf courses. Its Real Estate segment owns, develops and sells real estate in and around its resort communities.

FINANCIAL RATIOS  of  Vail Resorts (MTN)

Valuation Ratios
P/E Ratio 43.3
Price to Sales 4.8
Price to Book 5.8
Price to Tangible Book
Price to Cash Flow 20
Price to Free Cash Flow 29.2
Growth Rates
Sales Growth Rate 19.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 32.1%
Cap. Spend. - 3 Yr. Gr. Rate 4.1%
Financial Strength
Quick Ratio 3
Current Ratio 0.1
LT Debt to Equity 78.5%
Total Debt to Equity 81%
Interest Coverage 9
Management Effectiveness
Return On Assets 7.3%
Ret/ On Assets - 3 Yr. Avg. 6.9%
Return On Total Capital 9.6%
Ret/ On T. Cap. - 3 Yr. Avg. 8.7%
Return On Equity 17.3%
Return On Equity - 3 Yr. Avg. 16%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 43.3%
Gross Margin - 3 Yr. Avg. 31.9%
EBITDA Margin 30.6%
EBITDA Margin - 3 Yr. Avg. 27.5%
Operating Margin 19.9%
Oper. Margin - 3 Yr. Avg. 17.3%
Pre-Tax Margin 18.2%
Pre-Tax Margin - 3 Yr. Avg. 14.7%
Net Profit Margin 11.1%
Net Profit Margin - 3 Yr. Avg. 9.5%
Effective Tax Rate 33.3%
Eff/ Tax Rate - 3 Yr. Avg. 31.6%
Payout Ratio 69.2%

MTN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the MTN stock intrinsic value calculation we used $1907 million for the last fiscal year's total revenue generated by Vail Resorts. The default revenue input number comes from 2017 income statement of Vail Resorts. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our MTN stock valuation model: a) initial revenue growth rate of 16.1% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 5.9%, whose default value for MTN is calculated based on our internal credit rating of Vail Resorts, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Vail Resorts.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of MTN stock the variable cost ratio is equal to 68.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $224 million in the base year in the intrinsic value calculation for MTN stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 4.7% for Vail Resorts.

Corporate tax rate of 27% is the nominal tax rate for Vail Resorts. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the MTN stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for MTN are equal to 92.1%.

Life of production assets of 14.7 years is the average useful life of capital assets used in Vail Resorts operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for MTN is equal to -13.2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1571 million for Vail Resorts - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 39.998 million for Vail Resorts is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Vail Resorts at the current share price and the inputted number of shares is $9.1 billion.

RELATED COMPANIES Price Int.Val. Rating
SKIS Peak Resorts 5.00 21.32  str.buy
MAR Marriott Inter 115.02 597.63  str.buy
H Hyatt Hotels 61.85 17.87  str.sell
HLT Hilton Worldwi 71.04 131.88  str.buy
MPX Marine Product 15.19 9.41  sell
ARMK Aramark 43.29 25.02  sell

COMPANY NEWS

▶ Condé Nast Traveler ranks best hotels, resorts in Colorado   [Oct-18-17 05:35PM  American City Business Journals]
▶ Vail Resorts and GMC Announce Exclusive Partnership   [Oct-10-17 07:50PM  PR Newswire]
▶ 3 Stocks With Mind-Boggling Double-Digit Dividend Growth   [Oct-04-17 05:07PM  Motley Fool]
▶ 3 Unknown but Amazing Dividend Stocks   [02:02PM  Motley Fool]
▶ Vail Resorts Can't Handle the Summer Heat   [07:49AM  Motley Fool]
▶ Carnival Earns Relative Strength Rating Upgrade   [03:00AM  Investor's Business Daily]
▶ Vail Resorts reports 4Q loss   [Sep-28-17 09:41PM  Associated Press]
▶ Carnival Shows Rising Relative Price Performance; Still Shy Of Key Benchmark   [Sep-27-17 03:00AM  Investor's Business Daily]
▶ 3 Stocks the Smartest Investors are Buying Right Now   [Sep-26-17 09:00PM  Motley Fool]
▶ 3 Things to Watch in the Stock Market This Week   [Sep-24-17 12:00PM  Motley Fool]
▶ The Best Acquisition of the 21st Century   [07:33AM  Motley Fool]
▶ The 3 Stocks on the MFM Team's Radar   [Sep-20-17 03:55PM  Motley Fool]
▶ A look at Colorado ski resorts' upgrades and big events this season   [Sep-15-17 11:20AM  American City Business Journals]
▶ Stocks With Rising Relative Price Strength: Herc   [Sep-14-17 03:00AM  Investor's Business Daily]
▶ [$$] In Search of Bigger Fish   [Sep-02-17 12:06AM  Barrons.com]
▶ KSL-Henry Crown joint venture to add big Utah ski resort to its holdings   [Aug-21-17 06:43PM  American City Business Journals]
▶ [$$] Henry Ellenbogen's Bet on the Future Pays Off Today   [Aug-19-17 12:33AM  Barrons.com]
▶ 3 Growth Stocks for the Long Term   [Aug-17-17 06:15PM  Motley Fool]
▶ ETFs with exposure to Vail Resorts, Inc. : July 28, 2017   [Jul-28-17 04:35PM  Capital Cube]
▶ ETFs with exposure to Vail Resorts, Inc. : July 18, 2017   [Jul-18-17 01:57PM  Capital Cube]
▶ Feds don't object to buyout of Colorado-based ski-resort operator   [10:06AM  American City Business Journals]
▶ ETFs with exposure to Vail Resorts, Inc. : July 7, 2017   [Jul-07-17 03:11PM  Capital Cube]
▶ ETFs with exposure to Vail Resorts, Inc. : June 26, 2017   [Jun-26-17 04:26PM  Capital Cube]
▶ Skier visits to Colorado slopes fell this season, but not as much as some had feared   [Jun-15-17 10:40PM  American City Business Journals]
▶ Company News for June 09, 2017   [Jun-09-17 10:23AM  Zacks]
▶ Vail Resorts Skids On Earnings Miss, Buys First East Coast Ski Resort   [Jun-08-17 04:07PM  Investor's Business Daily]
▶ Vail Resorts misses Street 3Q forecasts   [07:06AM  Associated Press]
▶ These Colorado companies still support Paris climate agreement despite Trump's pullout   [Jun-06-17 11:22AM  American City Business Journals]
▶ 3 Things to Watch in the Stock Market This Week   [Jun-04-17 09:21AM  Motley Fool]
▶ Ron Baron Comments on Vail Resorts   [Apr-25-17 01:21PM  GuruFocus.com]
▶ Baron Asset Fund Comments on Vail Resorts   [Apr-13-17 06:36PM  GuruFocus.com]
▶ ETFs with exposure to Vail Resorts, Inc. : April 7, 2017   [Apr-07-17 05:05PM  Capital Cube]
▶ Former P&G executive joins C-suite of upscale resorts firm   [Mar-31-17 11:20AM  at bizjournals.com]
▶ Former P&G executive joins C-suite of upscale resorts firm   [11:20AM  American City Business Journals]
▶ ETFs with exposure to Vail Resorts, Inc. : March 27, 2017   [Mar-27-17 04:00PM  Capital Cube]
▶ 3 Stocks That Tripled   [Mar-22-17 12:07PM  Motley Fool]
Financial statements of MTN
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.