MTN Vail Resorts margins

Relative Growth: Rel. Growth: 16

Relative Strength: Rel. Strength: 61

Relative Valuation: Rel. Valuation: 50

Relative Profitability: Rel. Profitability: 56

Gross margin

26%

Operating margin

15.5%

EBITDA margin

25.2%

Net margin

5.2%

Based on the latest figures, Vail Resorts reports a gross margin of 26%, an operating margin of 15.5%, an EBITDA margin of 25.2%, and a net margin of 5.2%. Net margin had the largest decline, falling by 4.2 percentage points, while the other available margins also weakened.

MTN margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Vail Resorts recorded average margins of 27.93% gross, 18.34% operating, 27.18% EBITDA, and 8.12% net. The current gross, operating, EBITDA, and net margins are all below their three-year averages.

MTN margin expansion

Year-over-year margin changes in percentage points

Vail Resorts's gross margin contracted by 2.1 percentage points, operating margin by 3.7 percentage points, EBITDA margin by 3.6 percentage points, and net margin by 4.2 percentage points, led by net margin with a decline of 4.2 percentage points.

Gross margin expansion

-2.1pp

Operating margin expansion

-3.7pp

EBITDA margin expansion

-3.6pp

Net margin expansion

-4.2pp

MTN Gross margin

Vail Resorts recorded an average gross margin of 27.93% across the last 3 years. Compared with its three-year average, Vail Resorts's current gross margin is 26% and is 1.9 percentage points below its three-year average. Over the last 3 years, Vail Resorts's gross margin peaked at 29.3% in Apr 2024 and reached a low of 26% in Jul 2026.

MTN Operating margin

Across the last 3 years, Vail Resorts's operating margin averaged 18.34%. As of the latest period, Vail Resorts's current operating margin is 15.5%, which is 2.8 percentage points below its three-year average. Operating margin was highest at 19.9% in Apr 2024 and lowest at 15.5% in Jul 2026.

MTN EBITDA margin

Over the last 3 years, Vail Resorts's EBITDA margin averaged 27.18%. As of the latest period, Vail Resorts's current EBITDA margin is 25.2%, which is 2 percentage points below its three-year average. During this period, EBITDA margin reached a high of 28.8% in Jul 2025 and a low of 25.2% in Jul 2026.

MTN Net margin

Over the last 3 years, Vail Resorts's net margin averaged 8.12%. The current net margin of 5.2% is 2.9 percentage points below its three-year average. During this period, net margin reached a high of 9.7% in Apr 2025 and a low of 5.2% in Jul 2026.

MTN margin group comparison

Margins compared with peer-group, industry and sector averages

Vail Resorts's gross margin of 26% is lower than the Consumer Cyclical sector, the industry and its peers average. In comparison with the Consumer Cyclical sector average of 36.2%, Vail Resorts's gross margin is 28% lower.

MTN margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Vail Resorts's gross margin?

For the period ending Jul 31, 2026, MTN recorded a gross margin of 26%.

What is Vail Resorts's operating margin?

The current operating margin for MTN is 15.5% as of Jul 31, 2026.

What is Vail Resorts's EBITDA margin?

The current EBITDA margin for MTN is 25.2% as of Jul 31, 2026.

What is Vail Resorts's net margin?

The current net margin for MTN is 5.2% as of Jul 31, 2026.

What are the average margins of MTN?

Across the last 3 years, MTN averaged 27.9% gross, 18.3% operating, 27.2% EBITDA, and 8.1% net.

What are the highest historical margins of MTN?

Across the 5-year period, MTN posted its highest margins at 32.8% gross in Jul 2022, 24.6% operating in Jul 2022, 33.1% EBITDA in Jul 2022, and 13.8% net in Jul 2022.

What are the lowest historical margins of MTN?

Over the last 5 years, Vail Resorts's lowest margins were 26% gross in Jul 2026, 14.1% operating in Oct 2021, 25.2% EBITDA in Jul 2026, and 5.2% net in Jul 2026.