Vail Resorts (MTN) Gross Margin (2009 - 2025)
Vail Resorts (MTN) posted Gross Margin of 52.51% for Q4 2025, down 205.39% on a QoQ basis from 49.83% in Q2 2025, and up 254.0% year-over-year from 14.83% in Q4 2024.
Vail Resorts (MTN) Gross Margin (2009 - 2025) Analysis & Trends
Vail Resorts' Gross Margin history runs 17 years deep, the most recent figure standing at 52.51% for 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 was 52.51% for Q4 2025 at Vail Resorts, down from 49.83% in the prior quarter.
- Across five years, Gross Margin topped out at 51.74% in Q2 2021 and bottomed at 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 sank 1962 bps.
- Vail Resorts' Gross Margin stood at 63.27% in 2021, then soared by 45 bps to 35.11% in 2022, then tumbled by 56 bps to 54.73% in 2023, then declined by 1 bps to 55.05% in 2024, then gained by 5 bps to 52.51% in 2025.
- Business Quant data shows MTN's Gross Margin at 52.51% in Q4 2025, 49.83% in Q2 2025, and 40.21% in Q1 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Las Vegas Sands | 30.75 Bn | 27.42 Bn | 3.49 Bn | 97.43% |
| 2 | MGM Resorts International | 11.68 Bn | 9.38 Bn | 4.32 Bn | 97.02% |
| 3 | Wynn Resorts | 9.99 Bn | 9.89 Bn | 1.75 Bn | 94.08% |
| 4 | Boyd Gaming | 6.73 Bn | 6.36 Bn | 984.15 Mn | 98.68% |
| 5 | Melco Resorts & Entertainment | 6.48 Bn | 5.85 Bn | - | - |
| 6 | Caesars Entertainment | 6.11 Bn | 5.15 Bn | 2.78 Bn | 96.69% |
| 7 | Vail Resorts | 5.23 Bn | 5.21 Bn | - | - |
| 8 | Hilton Grand Vacations | 4.01 Bn | 3.75 Bn | 1.23 Bn | 95.41% |
| 9 | Red Rock Resorts | 3.72 Bn | 3.12 Bn | 433.13 Mn | 85.38% |
| 10 | Studio City International Holdings | 3.53 Bn | 3.45 Bn | 155.38 Mn | 87.92% |
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% |