Vail Resorts vs Sabre
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KIRA’s take AI analyst
I put Vail Resorts and Sabre side by side, using each one’s latest annual report. Here is what stands out:
- Vail Resorts is the larger business, with $2.8B of revenue in fiscal 2026 against $2.8B for Sabre.
- Sabre grew revenue faster (1.0%, against −4.3%).
- Vail Resorts kept more of each dollar of sales as operating profit (14.8% operating margin, against 10.7%).
- Vail Resorts turned more of its sales into free cash flow (8.7% FCF margin, against −6.9%).
- Sabre earned a higher return on the capital invested in it (8.9%, against 8.1%).
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
Vail Resorts
MTN
4/9
Operating marginFCF marginNet debt / EBITDAShare count change
Sabre
SABR
4/9
Revenue growth5-year growthNet marginReturn on capital
Side by side
Best in the row
| Latest fiscal year | MTN FY26 | SABR FY25 |
|---|---|---|
| Size | ||
| Market cap | $5.3B | $655M |
| Revenue | $2.8B | $2.8B |
| Free cash flow | $248M | −$192M |
| Net income | $148M | $525M |
| Growth | ||
| Revenue growth | −4.3% | 1.0% |
| 5-year growth | 8.3% | 15.7% |
| Share count change | −3.8% | 2.1% |
| Profitability | ||
| Gross margin | — | 56.4% |
| Operating margin | 14.8% | 10.7% |
| Net margin | 5.2% | 18.9% |
| FCF margin | 8.7% | −6.9% |
| Return on capital | 8.1% | 8.9% |
| Return on equity | 44.4% | — |
| Balance sheet | ||
| Net debt | $3.4B | $3.6B |
| Net debt / EBITDA | 4.6x | 8.9x |
| Dividends and buybacks | $362M | $0.0M |
| Valuation & quality | ||
| P/E | — | 1.0x |
| Piotroski F-score | 5 | 5 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.

