Vail Resorts annual operating margin
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2025
Vail Resorts Operating Margin Growth & History (MTN)
Vail Resorts's operating margin was 18.89% for fiscal 2025.
View full Vail Resorts company overviewVail Resorts annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-07-31 | 18.89% | +1.95 pp |
| 2024 | 2024-07-31 | 16.94% | −0.51 pp |
| 2023 | 2023-07-31 | 17.46% | −6.36 pp |
| 2022 | 2022-07-31 | 23.82% | +10.15 pp |
| 2021 | 2021-07-31 | 13.67% | +2.29 pp |
| 2020 | 2020-07-31 | 11.38% | −9.59 pp |
| 2019 | 2019-07-31 | 20.97% | +0.64 pp |
| 2018 | 2018-07-31 | 20.32% | +0.44 pp |
| 2017 | 2017-07-31 | 19.89% | +2.21 pp |
| 2016 | 2016-07-31 | 17.67% | +2.63 pp |
| 2015 | 2015-07-31 | 15.04% | +5.69 pp |
| 2014 | 2014-07-31 | 9.35% | +0.70 pp |
| 2013 | 2013-07-31 | 8.65% | +2.86 pp |
| 2012 | 2012-07-31 | 5.79% | −2.30 pp |
| 2011 | 2011-07-31 | 8.09% | +0.35 pp |
| 2010 | 2010-07-31 | 7.75% | −2.82 pp |
| 2009 | 2009-07-31 | 10.57% | — |
Vail Resorts quarterly operating margin
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| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q3 2026 | 2026-04-30 | 41.00% | −3.60 pp |
| Q2 2026 | 2026-01-31 | 31.83% | −1.86 pp |
| Q1 2026 | 2025-10-31 | −77.42% | +0.17 pp |
| Q4 2025 | 2025-07-31 | −73.37% | +2.47 pp |
| Q3 2025 | 2025-04-30 | 44.60% | +2.00 pp |
| Q2 2025 | 2025-01-31 | 33.69% | +1.17 pp |
| Q1 2025 | 2024-10-31 | −77.58% | +2.50 pp |
| Q4 2024 | 2024-07-31 | −75.84% | −16.25 pp |
| Q3 2024 | 2024-04-30 | 42.60% | +2.18 pp |
| Q2 2024 | 2024-01-31 | 32.52% | +2.75 pp |
| Q1 2024 | 2023-10-31 | −80.08% | −21.62 pp |
| Q4 2023 | 2023-07-31 | −59.60% | −22.87 pp |
| Q3 2023 | 2023-04-30 | 40.42% | −5.51 pp |
| Q2 2023 | 2023-01-31 | 29.77% | −6.09 pp |
| Q1 2023 | 2022-10-31 | −58.46% | +35.90 pp |
| Q4 2022 | 2022-07-31 | −36.73% | +46.74 pp |
| Q3 2022 | 2022-04-30 | 45.92% | +2.32 pp |
| Q2 2022 | 2022-01-31 | 35.87% | +5.53 pp |
| Q1 2022 | 2021-10-31 | −94.36% | +30.05 pp |
| Q4 2021 | 2021-07-31 | −83.47% | +136.77 pp |
| Q3 2021 | 2021-04-30 | 43.61% | +12.17 pp |
| Q2 2021 | 2021-01-31 | 30.34% | −3.27 pp |
| Q1 2021 | 2020-10-31 | −124.41% | −73.80 pp |
| Q4 2020 | 2020-07-31 | −220.24% | −170.82 pp |
| Q3 2020 | 2020-04-30 | 31.44% | −12.67 pp |
| Q2 2020 | 2020-01-31 | 33.61% | −1.92 pp |
| Q1 2020 | 2019-10-31 | −50.61% | +7.38 pp |
| Q4 2019 | 2019-07-31 | −49.42% | +3.97 pp |
| Q3 2019 | 2019-04-30 | 44.11% | +0.54 pp |
| Q2 2019 | 2019-01-31 | 35.53% | +0.47 pp |
| Q1 2019 | 2018-10-31 | −58.00% | −11.03 pp |
| Q4 2018 | 2018-07-31 | −53.39% | −4.34 pp |
| Q3 2018 | 2018-04-30 | 43.57% | +3.29 pp |
| Q2 2018 | 2018-01-31 | 35.06% | +0.27 pp |
| Q1 2018 | 2017-10-31 | −46.96% | +3.82 pp |
| Q4 2017 | 2017-07-31 | −49.05% | +3.08 pp |
| Q3 2017 | 2017-04-30 | 40.28% | −0.40 pp |
| Q2 2017 | 2017-01-31 | 34.79% | +1.41 pp |
| Q1 2017 | 2016-10-31 | −50.78% | −1.12 pp |
| Q4 2016 | 2016-07-31 | −52.13% | +2.46 pp |
| Q3 2016 | 2016-04-30 | 40.68% | +1.37 pp |
| Q2 2016 | 2016-01-31 | 33.38% | +3.19 pp |
| Q1 2016 | 2015-10-31 | −49.66% | +19.60 pp |
| Q4 2015 | 2015-07-31 | −54.59% | +15.15 pp |
| Q3 2015 | 2015-04-30 | 39.31% | +1.90 pp |
| Q2 2015 | 2015-01-31 | 30.19% | +5.74 pp |
| Q1 2015 | 2014-10-31 | −69.26% | +13.49 pp |
| Q4 2014 | 2014-07-31 | −69.74% | +5.10 pp |
| Q3 2014 | 2014-04-30 | 37.41% | +2.21 pp |
| Q2 2014 | 2014-01-31 | 24.45% | −0.63 pp |
| Q1 2014 | 2013-10-31 | −82.75% | −5.14 pp |
| Q4 2013 | 2013-07-31 | −74.84% | −3.58 pp |
| Q3 2013 | 2013-04-30 | 35.20% | +1.86 pp |
| Q2 2013 | 2013-01-31 | 25.08% | +2.52 pp |
| Q1 2013 | 2012-10-31 | −77.61% | −5.11 pp |
| Q4 2012 | 2012-07-31 | −71.27% | +0.35 pp |
| Q3 2012 | 2012-04-30 | 33.34% | +0.29 pp |
| Q2 2012 | 2012-01-31 | 22.56% | −2.01 pp |
| Q1 2012 | 2011-10-31 | −72.50% | −45.86 pp |
| Q4 2011 | 2011-07-31 | −71.62% | −36.19 pp |
| Q3 2011 | 2011-04-30 | 33.05% | −0.74 pp |
| Q2 2011 | 2011-01-31 | 24.57% | +0.10 pp |
| Q1 2011 | 2010-10-31 | −26.64% | +53.48 pp |
| Q4 2010 | 2010-07-31 | −35.43% | — |
| Q3 2010 | 2010-04-30 | 33.78% | — |
| Q2 2010 | 2010-01-31 | 24.47% | — |
| Q1 2010 | 2009-10-31 | −80.13% | — |
Vail Resorts operating margin trends
Over the last five reported fiscal years, Vail Resorts's operating margin increased from 11.38% to 18.89%, a change of +7.51 percentage points. The latest reported quarter, Q3 2026, shows 41.00%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Vail Resorts filings at SEC.gov ↗