Vail Resorts Inc (MTN) Gross Margin (2009 - 2025)

Vail Resorts (MTN) has reported Gross Margin for 17 consecutive years, with 52.51% the latest figure, recorded in Q4 2025.

• Gross Margin for Q4 2025 came in at 52.51%, up 254.0% year-over-year; the trailing twelve-month figure through Oct 2025 was 27.47% (down 85.0% YoY), and the FY2024 annual result was 28.39%, down 39.0% from the prior year.
• Gross Margin was 52.51% for Q4 2025 at Vail Resorts, down from 49.83% in the prior quarter.
• Over five years, Gross Margin peaked at 51.74% in Q2 2021 and troughed at 63.27% in Q4 2021.
• Average Gross Margin over 5 years is 2.28%, with a median of 35.96% recorded in 2023.
• Year-over-year, Gross Margin jumped 8575 bps in 2021 and plunged 1962 bps in 2023.
• Over 5 years, Gross Margin stood at 63.27% in 2021, then jumped by 45 bps to 35.11% in 2022, then plunged by 56 bps to 54.73% in 2023, then fell by 1 bps to 55.05% in 2024, then advanced by 5 bps to 52.51% in 2025.
• Per Business Quant data, the three most recent Gross Margin figures were 52.51% in Q4 2025, 49.83% in Q2 2025, and 40.21% in Q1 2025.