Is Vail Resorts, Inc. overvalued or undervalued?

As of 5 June 2025, the valuation grade for Vail Resorts, Inc. moved from attractive to very attractive, indicating a strong improvement in its valuation outlook. The company appears undervalued, with a P/E ratio of 20, an EV to EBITDA of 10.26, and a Price to Book Value of 7.28. In comparison, Norwegian Cruise Line Holdings Ltd. has a P/E of 14.40, while Wyndham Hotels & Resorts, Inc. is considered expensive with a P/E of 20.98.
Despite the positive valuation metrics, Vail Resorts has experienced significant underperformance relative to the S&P 500, with a year-to-date return of -19.50% compared to the S&P 500's 12.22%. This stark contrast reinforces the notion that the stock may be undervalued given its strong valuation ratios.