Filing Flows › Vail Resorts (MTN) › Q3 FY26 › vs Q3 FY25
Vail Resorts (MTN) Q3 FY26 vs Q3 FY25 (year over year)
Vail Resorts's revenue fell $90.4M (-7%) from $1.3B in Q3 FY25 to $1.2B in Q3 FY26. Operating margin 41.0% against 44.6% (-3.6 pts).
Vail Resorts, Q3 FY26: revenue $1.2B (-7% year over year), operating margin 41.0%, net earnings $314M, operating cash flow $6.8M. The chart draws each line against Q3 FY25, the increases inside each band.
Margins
| Q3 FY26 | Q3 FY25 | Change | |
|---|---|---|---|
| Operating margin | 41.0% | 44.6% | -3.6 pts |
| Net margin | 26.1% | 30.1% | -4.0 pts |
Every line
| Line | Q3 FY26 | Q3 FY25 | Change | % |
|---|---|---|---|---|
| Revenue | $1.2B | $1.3B | −$90.4M | -7% |
| Operating profit | $494M | $578M | −$83.6M | -14% |
| Costs & expenses | $711M | $718M | −$6.7M | -0.9% |
| Pre-tax earnings | $446M | $541M | −$95.5M | -18% |
| Other expense, net | $48.3M | $36.4M | $11.9M | +33% |
| Net earnings | $314M | $390M | −$75.3M | -19% |
| Minority interests | $25.8M | $21.6M | $4.2M | +20% |
| Income tax | $106M | $130M | −$24.4M | -19% |
| Operating cash sources | $399M | $473M | −$73.7M | -16% |
| Depreciation & amortization | $77.2M | $76.1M | $1.2M | +2% |
| Share-based compensation | $7.4M | $7.0M | $476K | +7% |
| Working capital & other | $392M | $357M | $34.9M | +10% |
| Operating cash flow | $6.8M | $115M | −$109M | -94% |
| Capital expenditures | $35.1M | $33.2M | $1.8M | +6% |
| Negative free cash flow (OCF − capex) | $28.2M | −$82.2M | $110M | — |
Questions
How much did Vail Resorts's revenue grow year over year in Q3 FY26?
Vail Resorts's revenue fell $90.4M (-7%) from $1.3B in Q3 FY25 to $1.2B in Q3 FY26. Operating margin 41.0% against 44.6% (-3.6 pts).