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Vail Resorts vs United Parks & Resorts: revenue, profit, margins and growth compared

Vail Resorts brought in $3B of revenue in fiscal 2025, United Parks & Resorts $1.7B in fiscal 2025. Revenue changed by +2.7% at Vail Resorts and -3.6% at United Parks & Resorts on the year before, so Vail Resorts grew faster. Vail Resorts kept 9.4% of its revenue as net profit, United Parks & Resorts 10.1%. Free cash flow was $319.7M at Vail Resorts and $162.6M at United Parks & Resorts.

Side by side, latest fiscal year

MTNPRKS
Fiscal year endedFY2025 (July 31, 2025)FY2025 (December 31, 2025)
Revenue$3B$1.7B
Revenue growth+2.7%-3.6%
Net income$280M$168.4M
Net margin9.4%10.1%
Free cash flow$319.7M$162.6M
Free cash flow margin10.8%9.8%
Earnings per share (diluted)$7.53$3.06
Cash$440.3M$99.8M
Debt$3.2B$2.2B
Price to earnings18.110.9
Market value$4.9B$1.5B
Dividend yield6.52%n/a
Rank by revenue in sector#286 of 778 · Consumer discretionary#384 of 778 · Consumer discretionary

Over the years

Revenue
MTN FY2018: $2BMTN FY2019: $2.3BMTN FY2020: $2BMTN FY2021: $1.9BMTN FY2022: $2.5BMTN FY2023: $2.9BMTN FY2024: $2.9BMTN FY2025: $3BPRKS FY2018: $1.4BPRKS FY2019: $1.4BPRKS FY2020: $431.8MPRKS FY2021: $1.5BPRKS FY2022: $1.7BPRKS FY2023: $1.7BPRKS FY2024: $1.7BPRKS FY2025: $1.7BFY18FY19FY20FY21FY22FY23FY24FY25
MTN $3BPRKS $1.7B
Net income
MTN FY2018: $379.9MMTN FY2019: $301.2MMTN FY2020: $98.8MMTN FY2021: $127.9MMTN FY2022: $347.9MMTN FY2023: $265.8MMTN FY2024: $231.1MMTN FY2025: $280MPRKS FY2018: $44.8MPRKS FY2019: $89.5MPRKS FY2020: -$312.3MPRKS FY2021: $256.5MPRKS FY2022: $291.2MPRKS FY2023: $234.2MPRKS FY2024: $227.5MPRKS FY2025: $168.4MFY18FY19FY20FY21FY22FY23FY24FY25
MTN $280MPRKS $168.4M
Net margin
MTN FY2018: 18.9%MTN FY2019: 13.3%MTN FY2020: 5.0%MTN FY2021: 6.7%MTN FY2022: 13.8%MTN FY2023: 9.2%MTN FY2024: 8.0%MTN FY2025: 9.4%PRKS FY2018: 3.3%PRKS FY2019: 6.4%PRKS FY2020: -72.3%PRKS FY2021: 17.1%PRKS FY2022: 16.8%PRKS FY2023: 13.6%PRKS FY2024: 13.2%PRKS FY2025: 10.1%FY18FY19FY20FY21FY22FY23FY24FY25
MTN 9.4%PRKS 10.1%
Revenue growth
MTN FY2019: +12.9%MTN FY2020: -13.6%MTN FY2021: -2.7%MTN FY2022: +32.3%MTN FY2023: +14.4%MTN FY2024: -0.1%MTN FY2025: +2.7%PRKS FY2019: +1.9%PRKS FY2020: -69.1%PRKS FY2021: +248.3%PRKS FY2022: +15.1%PRKS FY2023: -0.3%PRKS FY2024: -0.1%PRKS FY2025: -3.6%FY19FY20FY21FY22FY23FY24FY25
MTN +2.7%PRKS -3.6%
Free cash flow
MTN FY2018: $407.9MMTN FY2019: $442.2MMTN FY2020: $222.6MMTN FY2021: $410.2MMTN FY2022: $517.7MMTN FY2023: $322.9MMTN FY2024: $377.8MMTN FY2025: $319.7MPRKS FY2018: $114.2MPRKS FY2019: $153.2MPRKS FY2020: -$229.9MPRKS FY2021: $374.2MPRKS FY2022: $363.9MPRKS FY2023: $200.1MPRKS FY2024: $231.7MPRKS FY2025: $162.6MFY18FY19FY20FY21FY22FY23FY24FY25
MTN $319.7MPRKS $162.6M

Fiscal years as each company reports them; the two may end in different months.

Questions about Vail Resorts and United Parks & Resorts

Which is bigger by revenue, Vail Resorts or United Parks & Resorts?

Vail Resorts is bigger by revenue: $3B in fiscal 2025, against $1.7B for United Parks & Resorts in fiscal 2025.

Which keeps more of its revenue as profit, Vail Resorts or United Parks & Resorts?

Vail Resorts had a net margin of 9.4% in fiscal 2025; United Parks & Resorts had 10.1% in fiscal 2025.

Which grew revenue faster, Vail Resorts or United Parks & Resorts?

In their latest fiscal years revenue changed by +2.7% at Vail Resorts and -3.6% at United Parks & Resorts.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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