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

Vail Resorts' Gross Margin history runs 17 years deep, the most recent figure standing at 52.51% for Q4 2025.

• On a quarterly basis, Gross Margin rose 254.0% year-over-year to 52.51% in Q4 2025; TTM through Oct 2025 was 27.47%, a 85.0% decrease from a year earlier, with the FY2024 full-year figure 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.
• Over the last five years, Gross Margin for MTN reached as high as 51.74% in Q2 2021 and fell as low as 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.
• The widest annual swing landed in 2021, when Gross Margin jumped 8575 bps; it then plunged 1962 bps in 2023.
• Tracing MTN's Gross Margin over 5 years: stood at 63.27% in 2021, then soared by 45 bps to 35.11% in 2022, then slumped by 56 bps to 54.73% in 2023, then decreased by 1 bps to 55.05% in 2024, then grew by 5 bps to 52.51% in 2025.
• According to Business Quant data, Gross Margin over the past three periods registered 52.51%, 49.83%, and 40.21% for Q4 2025, Q2 2025, and Q1 2025 respectively.