Vail Resorts Inc (MTN)
Activity ratios
Short-term
Turnover ratios
| Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory turnover | 3.57 | 3.87 | 3.10 | 2.63 | 3.11 | 3.83 | 3.22 | 2.78 | 3.55 | 3.87 | 3.42 | 3.45 | 4.47 | 4.54 | 4.28 | 3.80 | 3.81 | 4.23 | 3.35 | 2.84 |
| Receivables turnover | 7.68 | 8.43 | 20.57 | 27.18 | 7.58 | 8.21 | 17.61 | 22.19 | 6.59 | 9.22 | 13.02 | 17.92 | 5.53 | 8.57 | 13.57 | 8.76 | 18.41 | 21.26 | 22.73 | 26.57 |
| Payables turnover | 3.01 | 4.03 | 3.20 | 2.57 | 2.78 | 3.47 | 2.19 | 2.40 | 2.55 | 3.45 | 2.59 | 3.07 | 3.65 | 5.15 | 4.31 | 5.14 | 6.51 | 6.93 | 3.01 | 2.56 |
| Working capital turnover | — | 15.17 | — | — | 37.33 | 5.82 | 5.98 | 9.43 | 3.71 | 2.43 | 3.55 | 3.83 | 2.49 | 1.84 | 2.69 | — | 31.87 | 10.90 | — | — |
Vail Resorts Inc's activity ratios provide insights into how efficiently the company manages its assets and liabilities.
1. Inventory Turnover: Vail Resorts Inc's inventory turnover has shown some variability over the periods analyzed, ranging from 2.63 to 4.54. A higher inventory turnover indicates that the company is selling its inventory more quickly, which can be a positive sign. However, a consistent trend would be ideal for better operational predictability.
2. Receivables Turnover: Vail Resorts Inc's receivables turnover has fluctuated significantly over the periods, with values ranging from 5.53 to 27.18. A higher receivables turnover indicates that the company is collecting its receivables more efficiently. The significant fluctuations may warrant a closer examination of the company's credit policies and customer payment behaviors.
3. Payables Turnover: The payables turnover ratio for Vail Resorts Inc has also shown fluctuations over time, with values ranging from 2.19 to 6.93. A higher payables turnover suggests that the company is paying its suppliers more rapidly, which could indicate good relationships with suppliers but may also impact cash flow management.
4. Working Capital Turnover: Vail Resorts Inc's working capital turnover has varied widely over the periods, with values ranging from 1.84 to 37.33. A higher working capital turnover ratio generally indicates more efficient utilization of working capital to generate revenue. The significant fluctuations in this ratio may suggest variations in the company's working capital management strategies.
Overall, while high turnover ratios may indicate efficiency, the significant variations observed in Vail Resorts Inc's activity ratios suggest the need for further analysis to identify the underlying factors driving these fluctuations and to ensure consistent and optimized operational performance.
Average number of days
| Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | 102.24 | 94.30 | 117.76 | 138.87 | 117.31 | 95.34 | 113.33 | 131.19 | 102.76 | 94.20 | 106.84 | 105.77 | 81.66 | 80.37 | 85.33 | 96.10 | 95.72 | 86.25 | 108.85 | 128.58 |
| Days of sales outstanding (DSO) | days | 47.54 | 43.32 | 17.74 | 13.43 | 48.14 | 44.46 | 20.72 | 16.45 | 55.41 | 39.58 | 28.04 | 20.36 | 66.02 | 42.61 | 26.90 | 41.65 | 19.83 | 17.17 | 16.06 | 13.74 |
| Number of days of payables | days | 121.36 | 90.48 | 114.23 | 142.28 | 131.45 | 105.05 | 166.36 | 152.23 | 142.97 | 105.89 | 140.88 | 118.83 | 99.90 | 70.87 | 84.72 | 71.07 | 56.09 | 52.64 | 121.21 | 142.51 |
Vail Resorts Inc's activity ratios provide insights into its operational efficiency and management of resources.
Days of Inventory on Hand (DOH):
- Over the past few quarters, the days of inventory on hand have fluctuated, ranging from 94.20 to 138.87 days.
- A higher DOH indicates that the company is holding onto inventory for a longer period, potentially tying up capital and risking obsolescence.
- The recent DOH of 102.24 days in July 2024 suggests an increase compared to the previous quarter, which may warrant further analysis of inventory management practices.
Days of Sales Outstanding (DSO):
- The days of sales outstanding have shown variability over the periods, with values ranging from 13.43 to 66.02 days.
- A lower DSO indicates faster collection of accounts receivable, improving cash flow and reducing the risk of bad debt.
- The DSO of 47.54 days in July 2024 has increased compared to the previous quarter, indicating a slower collection pace that may necessitate closer monitoring of credit policies and customer payment processes.
Number of Days of Payables:
- Vail Resorts Inc's number of days of payables has exhibited significant fluctuations, varying between 52.64 and 166.36 days.
- A higher number of days of payables suggests the company is taking longer to pay its suppliers, potentially indicating strained supplier relationships or cash flow constraints.
- The current number of days of payables of 121.36 days in July 2024 is elevated, indicating an increase in the time taken to settle payables, which may raise concerns about liquidity management and vendor relationships.
Overall, Vail Resorts Inc should closely monitor and manage its activity ratios to maintain optimal levels of operational efficiency, inventory turnover, receivables collection, and payables management in order to support sustainable growth and profitability.
Long-term
| Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fixed asset turnover | 1.19 | 1.26 | 1.21 | 1.22 | 1.22 | 1.22 | 1.17 | 1.14 | 1.19 | 1.15 | 0.99 | 0.95 | 0.92 | 0.84 | 0.74 | 0.84 | 0.90 | 0.97 | 1.06 | 1.02 |
| Total asset turnover | 0.51 | 0.50 | 0.49 | 0.50 | 0.49 | 0.47 | 0.43 | 0.42 | 0.40 | 0.39 | 0.34 | 0.31 | 0.31 | 0.28 | 0.26 | 0.34 | 0.37 | 0.40 | 0.47 | 0.45 |
The Fixed Asset Turnover ratio measures how efficiently a company uses its fixed assets to generate sales. Vail Resorts Inc's Fixed Asset Turnover has been relatively stable over the past few years, ranging between approximately 0.74 to 1.26. This indicates that the company has been able to effectively utilize its fixed assets to generate revenues, with a notable improvement in recent periods.
On the other hand, the Total Asset Turnover ratio reflects the overall efficiency of Vail Resorts Inc in generating sales from all its assets. The trend shows that the company's Total Asset Turnover has been gradually increasing over time, from around 0.26 to 0.51, implying that Vail Resorts Inc has been able to improve its efficiency in utilizing its total assets to generate revenues.
Overall, both the Fixed Asset Turnover and Total Asset Turnover ratios suggest that Vail Resorts Inc has been effectively managing its assets to drive sales and improve operational efficiency over the analyzed period.