Vail Resorts (MTN) Gross Margin (2009 - 2025)
Vail Resorts' (MTN) quarterly Gross Margin came in at 52.51% in Q4 2025, up 254.0% YoY from 14.83% in Q4 2024, and down 205.39% on a QoQ basis from 49.83% in Q2 2025.
Vail Resorts (MTN) Gross Margin (2009 - 2025) Analysis & Trends
Vail Resorts (MTN) has 17 years of Gross Margin data on file, last reported at 52.51% in Q4 2025.
- Quarterly Gross Margin rose 254.0% year-over-year to 52.51% in Q4 2025, while the trailing twelve-month figure through Oct 2025 was 27.47% (down 85.0% YoY) and the FY2024 annual result came in at 28.39%, down 39.0% from the prior year.
- Gross Margin eased to 52.51% in Q4 2025, from 49.83% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 51.74% in Q2 2021 to a low of 63.27% in Q4 2021.
- A 5-year average of 2.28% and a median of 35.96% in 2023 frame the typical range for Gross Margin.
- Annual changes were most pronounced in 2021 — Gross Margin surged 8575 bps — and 2023, when it slumped 1962 bps.
- Tracing MTN's Gross Margin over 5 years: stood at 63.27% in 2021, then jumped by 45 bps to 35.11% in 2022, then sank by 56 bps to 54.73% in 2023, then slipped by 1 bps to 55.05% in 2024, then increased by 5 bps to 52.51% in 2025.
- The last three Gross Margin figures came in at 52.51% (Q4 2025), 49.83% (Q2 2025), and 40.21% (Q1 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Las Vegas Sands | 30.10 Bn | 26.73 Bn | 1.81 Bn | 57.23% |
| 2 | MGM Resorts International | 10.94 Bn | 8.39 Bn | 3.10 Bn | 69.69% |
| 3 | Wynn Resorts | 10.22 Bn | 8.64 Bn | 1.14 Bn | 61.15% |
| 4 | Boyd Gaming | 6.06 Bn | 5.74 Bn | 766.76 Mn | 74.13% |
| 5 | Caesars Entertainment | 6.05 Bn | 4.99 Bn | 2.04 Bn | 68.09% |
| 6 | Vail Resorts | 5.35 Bn | 4.98 Bn | - | - |
| 7 | Marriott Vacations Worldwide | 3.84 Bn | 3.53 Bn | 1.29 Bn | 97.80% |
| 8 | Hilton Grand Vacations | 3.56 Bn | 3.29 Bn | 499.00 Mn | 36.75% |
| 9 | Red Rock Resorts | 3.54 Bn | 2.94 Bn | 420.02 Mn | 82.32% |
| 10 | PENN Entertainment | 2.46 Bn | 1.57 Bn | 1.02 Bn | 55.14% |
Historic Data
Download Data| Date | Value |
|---|---|
| Oct 31, 2025 | -52.51% |
| Apr 30, 2025 | 49.83% |
| Jan 31, 2025 | 40.21% |
| Oct 31, 2024 | -55.05% |
| Jul 31, 2024 | -43.54% |
| Apr 30, 2024 | 50.82% |
| Jan 31, 2024 | 39.34% |
| Oct 31, 2023 | -54.73% |
| Jul 31, 2023 | -32.65% |
| Apr 30, 2023 | 50.20% |
| Jan 31, 2023 | 35.96% |
| Oct 31, 2022 | -35.11% |
| Jul 31, 2022 | -24.03% |
| Apr 30, 2022 | 51.73% |
| Jan 31, 2022 | 43.65% |
| Oct 31, 2021 | -63.27% |
| Jul 31, 2021 | -49.24% |
| Apr 30, 2021 | 51.74% |
| Jan 31, 2021 | 39.96% |
| Oct 31, 2020 | -75.85% |