Vail Resorts (MTN) Gross Margin (2009 - 2025)
Vail Resorts (MTN) reported Gross Margin of 52.51% for Q4 2025, up 254.0% on a YoY basis from 14.83% in Q4 2024, and down 205.39% quarter-over-quarter from 49.83% in Q2 2025.
Vail Resorts (MTN) Gross Margin (2009 - 2025) Analysis & Trends
Vail Resorts has reported Gross Margin for 17 years, with the latest figure at 52.51% in Q4 2025.
- For the quarter ending Q4 2025, Gross Margin rose 254.0% year-over-year to 52.51%; the trailing twelve-month figure through Oct 2025 stood at 27.47% (down 85.0% YoY), and the FY2024 full-year result was 28.39%, down 39.0% from the prior year.
- Gross Margin for Q4 2025 stood at 52.51%, down from 49.83% in the prior quarter.
- The five-year high for Gross Margin was 51.74% in Q2 2021, with the low at 63.27% in Q4 2021.
- Historically, Gross Margin has averaged 2.28% across 5 years, with a median of 35.96% in 2023.
- Annual changes were most pronounced in 2021 — Gross Margin surged 8575 bps — and 2023, when it slumped 1962 bps.
- Vail Resorts' Gross Margin 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 | Wynn Resorts | 10.77 Bn | 9.94 Bn | 1.77 Bn | 95.16% |
| 2 | Boyd Gaming | 6.75 Bn | 6.74 Bn | 742.51 Mn | 74.45% |
| 3 | Melco Resorts & Entertainment | 6.64 Bn | 6.49 Bn | - | - |
| 4 | Caesars Entertainment | 5.96 Bn | 5.18 Bn | 2.71 Bn | 94.56% |
| 5 | Vail Resorts | 4.85 Bn | 4.81 Bn | - | - |
| 6 | Hilton Grand Vacations | 4.07 Bn | 3.97 Bn | 1.10 Bn | 85.91% |
| 7 | Red Rock Resorts | 3.34 Bn | 3.31 Bn | 491.72 Mn | 96.92% |
| 8 | Marriott Vacations Worldwide | 3.09 Bn | 2.82 Bn | 1.23 Bn | 97.77% |
| 9 | PENN Entertainment | 2.57 Bn | 1.85 Bn | 971.20 Mn | 54.59% |
| 10 | Monarch Casino & Resort | 2.19 Bn | 2.07 Bn | 34.95 Mn | 25.59% |
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% |