Vail Resorts (MTN) Operating Margin (2009 - 2026)
Vail Resorts (MTN) recorded Operating Margin of 41.00% in fiscal Q3 2026 (quarter ended Apr 30, 2026), down 3.60 percentage points from 44.60% a year earlier but up 9.17 percentage points from the prior quarter.
Vail Resorts (MTN) Operating Margin (2009 - 2026) Analysis & Trends
On a TTM basis, Vail Resorts' Operating Margin came in at 15.20% as of Apr 30, 2026, down 3.65 percentage points year-over-year; for FY2025 (ended Jul 31, 2025), it came in at 18.89%, up 1.95 percentage points from FY2024.
- Annual Operating Margin has a five-year change of +7.51 percentage points (FY2020 to FY2025).
- Across earlier fiscal years, Operating Margin came in at 16.94% in FY2024 (-0.51 pp), 17.46% in FY2023 (-6.36 pp), 23.82% in FY2022 (+10.15 pp) and 13.67% in FY2021 (+2.29 pp).
- Quarterly Operating Margin has ranged from -94.36% in fiscal Q1 2022 to 45.92% in fiscal Q3 2022 over the past five years.
- On a year-over-year basis, Operating Margin rose in five of the last eight quarters, with an average year-over-year change of -1.67 percentage points.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 136.77 percentage points in fiscal Q4 2021, against a drop of 22.87 percentage points in fiscal Q4 2023 at the low end.
- Per Business Quant, the preceding three fiscal quarters came in at 31.83% (Q2 2026), -77.42% (Q1 2026) and -73.37% (Q4 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Las Vegas Sands | 24.82 Bn | 11.24 Bn | 1.48 Bn | 19.59% |
| 2 | DraftKings | 17.42 Bn | 13.08 Bn | 551.45 Mn | -4.72% |
| 3 | Flutter Entertainment | 12.92 Bn | 6.67 Bn | 1.71 Bn | -3.33% |
| 4 | Madison Square Garden Sports | 9.97 Bn | 9.56 Bn | 119.21 Mn | 11.53% |
| 5 | Life Time Group Holdings | 8.95 Bn | 8.18 Bn | 412.26 Mn | 17.29% |
| 6 | Wynn Resorts | 8.09 Bn | 1.64 Bn | 758.95 Mn | 16.03% |
| 7 | MGM Resorts International | 7.93 Bn | -255.39 Mn | 1.98 Bn | 11.32% |
| 8 | Caesars Entertainment | 6.03 Bn | 2.66 Bn | 1.50 Bn | 17.14% |
| 9 | Super Group (SGHC) | 5.86 Bn | 3.85 Bn | - | - |
| 10 | Vail Resorts | 5.03 Bn | 3.74 Bn | - | -75.09% |
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | -75.09% |
| 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% |
Vail Resorts Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=MTN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "MTN", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=MTN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();