Vail Resorts (MTN) Net Margin (2009 - 2026)
Vail Resorts (MTN) posted Net Margin of 28.23% for Q2 2026, up 35.49% on a QoQ basis from 20.84% in Q1 2026, and down 352.0% year-over-year from 11.2% in Q2 2025.
Vail Resorts (MTN) Net Margin (2009 - 2026) Analysis & Trends
Vail Resorts' Net Margin history runs 18 years deep, the most recent figure standing at 28.23% for Q2 2026.
- Quarterly Net Margin fell 352.0% year-over-year to 28.23% in Q2 2026, while the trailing twelve-month figure through Apr 2026 was 6.4% (down 391.0% YoY) and the FY2025 annual result came in at 10.05%, up 149.0% from the prior year.
- Net Margin was 28.23% for Q2 2026 at Vail Resorts, up from 20.84% in the prior quarter.
- Across five years, Net Margin topped out at 32.85% in Q2 2022 and bottomed at 72.49% in Q4 2025.
- A 5-year average of 12.96% and a median of 20.41% in 2023 frame the typical range for Net Margin.
- Annual changes were most pronounced in 2022 — Net Margin soared 2993 bps — and 2023, when it tumbled 1942 bps.
- Vail Resorts' Net Margin stood at 51.37% in 2022, then tumbled by 38 bps to 70.79% in 2023, then climbed by 1 bps to 69.91% in 2024, then slipped by 4 bps to 72.49% in 2025, then jumped by 139 bps to 28.23% in 2026.
- Business Quant data shows MTN's Net Margin at 28.23% in Q2 2026, 20.84% in Q1 2026, and 72.49% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Las Vegas Sands | 30.75 Bn | 27.42 Bn | 3.49 Bn | 17.88% |
| 2 | MGM Resorts International | 11.68 Bn | 9.38 Bn | 4.32 Bn | 3.92% |
| 3 | Wynn Resorts | 9.99 Bn | 9.89 Bn | 1.75 Bn | 8.11% |
| 4 | Boyd Gaming | 6.73 Bn | 6.36 Bn | 984.15 Mn | 10.46% |
| 5 | Melco Resorts & Entertainment | 6.48 Bn | 5.85 Bn | - | 129.40% |
| 6 | Caesars Entertainment | 6.11 Bn | 5.15 Bn | 2.78 Bn | -2.89% |
| 7 | Vail Resorts | 5.23 Bn | 5.21 Bn | - | 28.23% |
| 8 | Hilton Grand Vacations | 4.01 Bn | 3.75 Bn | 1.23 Bn | 5.29% |
| 9 | Red Rock Resorts | 3.72 Bn | 3.12 Bn | 433.13 Mn | 16.31% |
| 10 | Studio City International Holdings | 3.53 Bn | 3.45 Bn | 155.38 Mn | 5.38% |
Historic Data
Download Data| Date | Value |
|---|---|
| Apr 30, 2026 | 28.23% |
| Jan 31, 2026 | 20.84% |
| Oct 31, 2025 | -72.49% |
| Jul 31, 2025 | -69.41% |
| Apr 30, 2025 | 31.75% |
| Jan 31, 2025 | 22.59% |
| Oct 31, 2024 | -69.91% |
| Jul 31, 2024 | -68.26% |
| Apr 30, 2024 | 29.72% |
| Jan 31, 2024 | 21.32% |
| Oct 31, 2023 | -70.79% |
| Jul 31, 2023 | -50.76% |
| Apr 30, 2023 | 27.71% |
| Jan 31, 2023 | 19.98% |
| Oct 31, 2022 | -51.37% |
| Jul 31, 2022 | -41.05% |
| Apr 30, 2022 | 32.85% |
| Jan 31, 2022 | 25.80% |
| Oct 31, 2021 | -81.17% |
| Jul 31, 2021 | -70.98% |