Vail Resorts (MTN) Operating Margin (2009 - 2026)
Vail Resorts' (MTN) quarterly Operating Margin came in at 41.0% in Q2 2026, down 360.0% YoY from 15.77% in Q2 2025, and up 28.8% on a QoQ basis from 31.83% in Q1 2026.
Vail Resorts (MTN) Operating Margin (2009 - 2026) Analysis & Trends
Vail Resorts' Operating Margin history runs 18 years deep, the most recent figure standing at 41.0% for Q2 2026.
- On a quarterly basis, Operating Margin fell 360.0% year-over-year to 41.0% in Q2 2026; TTM through Apr 2026 was 15.2%, a 365.0% decrease from a year earlier, with the FY2025 full-year figure at 18.89%, up 195.0% from the prior year.
- Operating Margin was 41.0% for Q2 2026 at Vail Resorts, up from 31.83% in the prior quarter.
- Over the last five years, Operating Margin for MTN reached as high as 45.92% in Q2 2022 and fell as low as 80.08% in Q4 2023.
- A 5-year average of 8.94% and a median of 30.8% in 2023 frame the typical range for Operating Margin.
- The widest annual swing landed in 2022, when Operating Margin soared 4674 bps; it then slumped 2287 bps in 2023.
- Tracing MTN's Operating Margin over 5 years: stood at 58.46% in 2022, then plunged by 37 bps to 80.08% in 2023, then increased by 3 bps to 77.58% in 2024, then rose by 0 bps to 77.42% in 2025, then jumped by 153 bps to 41.0% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 41.0%, 31.83%, and 77.42% for Q2 2026, Q1 2026, and Q4 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Wynn Resorts | 10.89 Bn | 10.06 Bn | 1.77 Bn | 15.22% |
| 2 | Melco Resorts & Entertainment | 6.64 Bn | 6.49 Bn | - | 195.99% |
| 3 | Boyd Gaming | 6.48 Bn | 6.47 Bn | 742.51 Mn | 16.44% |
| 4 | Caesars Entertainment | 5.96 Bn | 5.18 Bn | 2.71 Bn | 17.42% |
| 5 | Vail Resorts | 5.17 Bn | 5.17 Bn | - | 41.00% |
| 6 | Hilton Grand Vacations | 4.32 Bn | 4.21 Bn | 1.10 Bn | -2.96% |
| 7 | Red Rock Resorts | 3.54 Bn | 3.51 Bn | 491.72 Mn | 28.32% |
| 8 | Marriott Vacations Worldwide | 3.38 Bn | 3.12 Bn | 1.23 Bn | 4.77% |
| 9 | PENN Entertainment | 2.84 Bn | 2.13 Bn | 971.20 Mn | 5.46% |
| 10 | Monarch Casino & Resort | 2.34 Bn | 2.22 Bn | 34.95 Mn | -48.82% |
Historic Data
Download Data| Date | Value |
|---|---|
| Apr 30, 2026 | 41.00% |
| Jan 31, 2026 | 31.83% |
| Oct 31, 2025 | -77.42% |
| Jul 31, 2025 | -73.37% |
| Apr 30, 2025 | 44.60% |
| Jan 31, 2025 | 33.69% |
| Oct 31, 2024 | -77.58% |
| Jul 31, 2024 | -75.84% |
| Apr 30, 2024 | 42.60% |
| Jan 31, 2024 | 32.52% |
| Oct 31, 2023 | -80.08% |
| Jul 31, 2023 | -59.60% |
| Apr 30, 2023 | 40.42% |
| Jan 31, 2023 | 29.77% |
| Oct 31, 2022 | -58.46% |
| Jul 31, 2022 | -36.73% |
| Apr 30, 2022 | 45.92% |
| Jan 31, 2022 | 35.87% |
| Oct 31, 2021 | -94.36% |
| Jul 31, 2021 | -83.47% |