8-K Announcements
6Apr 29, 2026·SEC
Apr 28, 2026·SEC
Feb 25, 2026·SEC
VICI Properties Inc. (VICI) fundamental analysis — strengths, weaknesses & financial health based on data analysis
No significant weaknesses identified
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
VICI Properties Inc. (VICI) stock price & volume — 10-year historical chart
VICI Properties Inc. (VICI) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
VICI Properties Inc. (VICI) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 29, 2026 | $0.82vs $0.71+16.0% | $1.0Bvs $1.0B+0.4% |
| Q1 2026 | Feb 25, 2026 | $0.57vs $0.70-18.1% | $1.0Bvs $1.0B+0.4% |
| Q4 2025 | Oct 30, 2025 | $0.71vs $0.59+20.3% | $1.0Bvs $1.0B+0.3% |
| Q3 2025 | Jul 30, 2025 | $0.82vs $0.60+36.7% | $1.0Bvs $994M+0.7% |
VICI Properties Inc. (VICI) competitors in Net Lease and Ground Lease REITs — business model, growth, and fundamentals comparison
VICI Properties Inc. (VICI) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
VICI Properties Inc. (VICI) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 201.44M | 897.98M | 894.8M | 1.23B | 1.51B | 2.6B | 3.61B | 3.85B | 4.01B | 4.05B |
| Revenue Growth % | 972.32% | 345.79% | -0.35% | 36.97% | 23.17% | 72.28% | 38.89% | 6.57% | 4.08% | 4.28% |
| Property Operating Expenses | 33.77M | 99.18M | 18.9M | 33.42M | 20.76M | 22.6M | 27.09M | 26.89M | 34M | 31.64M |
| Net Operating Income (NOI) | 167.67M▲ 0% | 798.8M▲ 376.4% | 875.9M▲ 9.7% | 1.19B▲ 36.1% | 1.49B▲ 24.9% | 2.58B▲ 73.2% | 3.58B▲ 39.1% | 3.82B▲ 6.6% | 3.97B▲ 3.9% | 4.02B▲ 0% |
| NOI Margin % | 83.24% | 88.96% | 97.89% | 97.27% | 98.62% | 99.13% | 99.25% | 99.3% | 99.15% | 99.22% |
| Operating Expenses | 23.47M | 40.84M | 33.4M | 278.91M | 44.47M | 945.64M | 240.05M | 277.38M | 324.54M | 22.15M |
| G&A Expenses | 11.28M | 24.43M | 24.57M | 30.66M | 33.12M | 48.34M | 59.6M | 69.11M | 65.08M | 66.2M |
| EBITDA | 147.35M | 761.64M | 846.33M | 916.97M | 1.45B | 1.64B | 3.35B | 3.55B | 3.65B | 4B |
| EBITDA Margin % | 73.15% | 84.82% | 94.58% | 74.82% | 95.88% | 62.89% | 92.72% | 92.2% | 91.14% | 98.76% |
| Depreciation & Amortization | 3.15M | 3.69M | 3.83M | 3.73M | 3.09M | 3.18M | 4.3M | 4.13M | 3.64M | 3.61M |
| D&A / Revenue % | 1.57% | 0.41% | 0.43% | 0.3% | 0.2% | 0.12% | 0.12% | 0.11% | 0.09% | 0.09% |
| Operating Income | 144.2M▲ 0% | 757.95M▲ 425.6% | 842.5M▲ 11.2% | 913.24M▲ 8.4% | 1.44B▲ 58.2% | 1.63B▲ 13.0% | 3.34B▲ 104.9% | 3.54B▲ 6.0% | 3.65B▲ 2.9% | 3.99B▲ 0% |
| Operating Margin % | 71.58% | 84.41% | 94.16% | 74.52% | 95.68% | 62.77% | 92.6% | 92.1% | 91.05% | 98.67% |
| Interest Expense | 63.35M | 212.66M | 248.38M | 308.61M | 392.39M | 539.95M | 818.06M | 826.1M | 818.11M | 4M |
| Interest Coverage | 1.67x | 3.51x | 3.24x | 3.91x | 3.61x | 3.11x | 4.12x | 4.31x | 4.45x | - |
| Non-Operating Income | 38.21M | 11.73M | 38.13M | -292.4M | 25.9M | -46.65M | -21.69M | -12.11M | 8.49M | 2.3M |
| Pretax Income | 42.64M▲ 0% | 533.56M▲ 1151.4% | 555.99M▲ 4.2% | 897.04M▲ 61.3% | 1.03B▲ 14.4% | 1.14B▲ 11.0% | 2.55B▲ 123.7% | 2.73B▲ 7.2% | 2.82B▲ 3.3% | 3.16B▲ 0% |
| Pretax Margin % | 21.17% | 59.42% | 62.14% | 73.19% | 67.97% | 43.8% | 70.56% | 70.95% | 70.42% | 78.09% |
| Income Tax | -1.9M | 1.44M | 1.71M | 831K | 2.89M | 2.88M | -6.14M | 9.7M | 2.44M | 8.87M |
| Effective Tax Rate % | -4.46% | 0.27% | 0.31% | 0.09% | 0.28% | 0.25% | -0.24% | 0.36% | 0.09% | 0.28% |
| Net Income | 42.66M▲ 0% | 523.62M▲ 1127.4% | 545.96M▲ 4.3% | 891.67M▲ 63.3% | 1.01B▲ 13.7% | 1.12B▲ 10.2% | 2.51B▲ 124.9% | 2.68B▲ 6.6% | 2.78B▲ 3.6% | 3.1B▲ 0% |
| Net Margin % | 21.18% | 58.31% | 61.02% | 72.76% | 67.16% | 42.97% | 69.59% | 69.59% | 69.28% | 76.69% |
| Net Income Growth % | 1307.99% | 1127.37% | 4.27% | 63.32% | 13.7% | 10.24% | 124.9% | 6.58% | 3.61% | 17.93% |
| Funds From Operations (FFO) | 45.81M▲ 0% | 527.3M▲ 1050.9% | 549.79M▲ 4.3% | 895.4M▲ 62.9% | 1.02B▲ 13.6% | 1.12B▲ 10.2% | 2.52B▲ 124.6% | 2.68B▲ 6.6% | 2.78B▲ 3.6% | 3.11B▲ 0% |
| FFO Margin % | 22.74% | 58.72% | 61.44% | 73.06% | 67.37% | 43.1% | 69.71% | 69.7% | 69.37% | 76.77% |
| FFO Growth % | 656.02% | 1050.94% | 4.27% | 62.86% | 13.57% | 10.21% | 124.64% | 6.56% | 3.59% | 79.38% |
| FFO per Share | 0.14 | 1.44 | 1.25 | 1.75 | 1.76 | 1.27 | 2.48 | 2.56 | 2.62 | 2.91 |
| FFO Payout Ratio % | 0% | 49.82% | 91.66% | 68.37% | 74.61% | 108.77% | 62.9% | 65.34% | 66.69% | 60.36% |
| EPS (Diluted) | 0.13▲ 0% | 1.43▲ 1000.0% | 1.24▼ 13.3% | 1.75▲ 41.1% | 1.76▲ 0.6% | 1.27▼ 27.8% | 2.47▲ 94.5% | 2.56▲ 3.6% | 2.61▲ 2.0% | 2.91▲ 0% |
| EPS Growth % | - | 1000% | -13.29% | 41.13% | 0.57% | -27.84% | 94.49% | 3.64% | 1.95% | 16.8% |
| EPS (Basic) | 0.13 | 1.43 | 1.25 | 1.76 | 1.80 | 1.27 | 2.48 | 2.56 | 2.61 | - |
| Diluted Shares Outstanding | 327.58M | 367.32M | 439.15M | 510.91M | 577.07M | 879.68M | 1.02B | 1.05B | 1.06B | 1.07B |
VICI Properties Inc. (VICI) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | 9.74B | 11.33B | 13.27B | 17.06B | 17.6B | 37.58B | 44.06B | 45.37B | 46.72B | 47.09B |
| Asset Growth % | 10665.09% | 16.36% | 17.05% | 28.63% | 3.13% | 113.53% | 17.26% | 2.97% | 2.99% | 13.49% |
| Real Estate & Other Assets | 1.2B | 10.11B | 11.94B | 13.74B | 13.34B | 18.05B | 23.19B | 23.76B | 0 | 0 |
| PP&E (Net) | 74.3M | 71.51M | 96.83M | 364.19M | 359.3M | 876.73M | 952.62M | 967.27M | 0 | 0 |
| Investment Securities | 1000K | 0 | 0 | 0 | 1000K | 1000K | 1000K | 1000K | 0 | 0 |
| Total Current Assets | 197.41M | 1.15B | 1.23B | 2.96B | 3.4B | 17.19B | 18.76B | 18.98B | 607.96M | 480.21M |
| Cash & Equivalents | 183.65M | 577.88M | 1.1B | 315.99M | 739.61M | 208.93M | 522.57M | 524.62M | 563.48M | 480.21M |
| Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 | 0 |
| Other Current Assets | -8.25B | -8.87B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 4.96B | 4.43B | 5.22B | 7.57B | 5.41B | 15.29B | 18.4B | 18.42B | 18.5B | 18.47B |
| Total Debt | 5.09B | 4.12B | 4.82B | 7.07B | 4.99B | 14.57B | 17.63B | 17.65B | 0 | 0 |
| Net Debt | 4.9B | 3.54B | 3.72B | 6.75B | 4.25B | 14.36B | 17.11B | 17.13B | -563.48M | -480.21M |
| Long-Term Debt | 4.79B | 4.12B | 4.79B | 6.77B | 4.69B | 13.74B | 16.72B | 16.73B | 0 | 0 |
| Short-Term Borrowings | 300M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 26.43M | 301.88M | 297.32M | 829.3M | 904.4M | 917.2M | 0 | 1.83B |
| Total Current Liabilities | 97.72M | 206.08M | 249.21M | 332.8M | 339.84M | 593.57M | 664.84M | 679.91M | 238.72M | 173.51M |
| Accounts Payable | 5.21M | 1.06M | 640K | 734K | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 68.12M | 43.6M | 70.34M | 93.66M | 0 | 0 | 0 | 0 | 238.72M | 173.51M |
| Other Liabilities | 8.04M | 57.05M | 75.71M | 72.46M | 74.64M | 118.83M | 104.2M | 83.33M | 18.26B | 18.3B |
| Total Equity | 4.78B▲ 0% | 6.9B▲ 44.5% | 8.05B▲ 16.6% | 9.49B▲ 17.9% | 12.19B▲ 28.4% | 22.29B▲ 82.9% | 25.66B▲ 15.1% | 26.95B▲ 5.0% | 28.22B▲ 4.7% | 28.62B▲ 0% |
| Equity Growth % | 5576.48% | 44.48% | 16.63% | 17.95% | 28.37% | 82.9% | 15.11% | 5.04% | 4.71% | 21.6% |
| Shareholders Equity | 4.69B | 6.82B | 7.97B | 9.42B | 12.11B | 21.93B | 25.26B | 26.54B | 27.8B | 28.19B |
| Minority Interest | 84.88M | 83.57M | 83.81M | 77.91M | 78.91M | 356.48M | 401.84M | 413.85M | 424.95M | 430.21M |
| Common Stock | 3M | 4.05M | 4.61M | 5.37M | 6.29M | 9.63M | 10.43M | 10.56M | 10.69M | 10.69M |
| Additional Paid-in Capital | 4.65B | 6.65B | 7.82B | 9.36B | 11.76B | 21.65B | 24.13B | 24.52B | 0 | 0 |
| Retained Earnings | 42.66M | 187.1M | 208.07M | 139.45M | 346.03M | 93.15M | 965.76M | 1.87B | 2.77B | 3.16B |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Return on Assets (ROA) | 0.87% | 4.97% | 4.44% | 5.88% | 5.85% | 4.05% | 6.16% | 5.99% | 6.03% | 6.66% |
| Return on Equity (ROE) | 1.76% | 8.97% | 7.3% | 10.17% | 9.35% | 6.48% | 10.48% | 10.18% | 10.06% | 11.05% |
| Debt / Assets | 52.22% | 36.37% | 36.32% | 41.42% | 28.37% | 38.77% | 40.01% | 38.9% | - | 0% |
| Debt / Equity | 1.06x | 0.60x | 0.60x | 0.74x | 0.41x | 0.65x | 0.69x | 0.65x | - | 0.00x |
| Net Debt / EBITDA | 33.27x | 4.65x | 4.39x | 7.36x | 2.94x | 8.78x | 5.11x | 4.83x | -0.15x | -0.15x |
| Book Value per Share | 14.58 | 18.79 | 18.33 | 18.58 | 21.12 | 25.34 | 25.26 | 25.73 | 26.56 | 26.78 |
VICI Properties Inc. (VICI) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 131.68M | 504.08M | 682.16M | 883.64M | 896.35M | 1.94B | 2.18B | 2.38B | 2.51B | 2.51B |
| Operating CF Growth % | 4739.54% | 282.8% | 35.33% | 29.54% | 1.44% | 116.81% | 12.23% | 9.19% | 5.4% | 19.55% |
| Operating CF / Revenue % | 65.37% | 56.14% | 76.24% | 72.1% | 59.38% | 74.73% | 60.38% | 61.87% | 62.65% | 62% |
| Net Income | 44.54M | 532.12M | 554.28M | 896.21M | 1.02B | 1.14B | 2.55B | 2.72B | 2.82B | 3.1B |
| Depreciation & Amortization | 3.15M | 3.69M | 3.83M | 3.73M | 3.09M | 3.18M | 4.3M | 4.13M | 3.64M | 3.61M |
| Stock-Based Compensation | 0 | 2.34M | 5.22M | 7.39M | 9.37M | 12.99M | 15.54M | 17.51M | 16.2M | 17.42M |
| Other Non-Cash Items | -8.8M | -4.05M | 91.42M | -71.67M | -52.45M | 744.51M | -369M | -355.3M | -337.64M | -641.65M |
| Working Capital Changes | 92.8M | -29.66M | 27.41M | 47.98M | -86.82M | 46.45M | -14.02M | -11.52M | 11M | 27.61M |
| Cash from Investing | -1.14B | -1.14B | -1.36B | -4.55B | 41.45M | -9.3B | -2.9B | -922.78M | -904.77M | -742.09M |
| Acquisitions (Net) | 0 | 0 | 0 | 0 | 0 | -4.57B | -1.27B | 0 | 0 | 0 |
| Purchase of Investments | 0 | -1.71B | -440.35M | -19.97M | 0 | -4.32B | -241.14M | -441.38M | -931.73M | -1.28B |
| Sale of Investments | 0 | 421.43M | 901.76M | 59.47M | 19.97M | 89.19M | 217.34M | 29.58M | 32.99M | 55.22M |
| Other Investing | -1.14B | 152.41M | -1.82B | -4.59B | 23.98M | -492.41M | -1.6B | -503.45M | -4.69M | 484.32M |
| Cash from Financing | 1.15B | 1.04B | 1.18B | 2.88B | -514.18M | 6.83B | 1.03B | -1.46B | -1.57B | -1.66B |
| Dividends Paid | 0 | -262.68M | -503.96M | -612.21M | -758.79M | -1.22B | -1.58B | -1.75B | -1.85B | -1.88B |
| Common Dividends | 0 | -262.68M | -503.96M | -612.21M | -758.79M | -1.22B | -1.58B | -1.75B | -1.85B | -1.88B |
| Debt Issuance (Net) | 1000K | -1000K | 1000K | 1000K | -1000K | 1000K | 1000K | -1000K | -1000K | -1000K |
| Share Repurchases | 0 | 0 | 0 | -207K | -1.73M | -6.16M | -4.97M | -5.34M | 0 | -2.34M |
| Other Financing | 40.94M | -10.92M | -64.14M | -65.98M | -39.43M | -163.89M | -28.66M | -36.54M | -39.44M | -32.9M |
| Net Change in Cash | 196.49M▲ 0% | 401.04M▲ 104.1% | 503.45M▲ 25.5% | -785.9M▼ 256.1% | 423.62M▲ 153.9% | -530.68M▼ 225.3% | 313.64M▲ 159.1% | 2.04M▼ 99.3% | 38.86M▲ 1804.2% | 145.89M▲ 0% |
| Exchange Rate Effect | 55.69M | 0 | 0 | 0 | 0 | 0 | -63K | 445K | 160K | -176K |
| Cash at Beginning | 920K | 197.41M | 598.45M | 1.1B | 315.99M | 739.61M | 208.93M | 522.57M | 524.62M | 563.48M |
| Cash at End | 197.41M | 598.45M | 1.1B | 315.99M | 739.61M | 208.93M | 522.57M | 524.62M | 563.48M | 480.21M |
| Free Cash Flow | 129.72M▲ 0% | 503.18M▲ 287.9% | 679.43M▲ 35.0% | 880.87M▲ 29.6% | 893.85M▲ 1.5% | 1.94B▲ 117.2% | 2.18B▲ 12.1% | 2.37B▲ 9.0% | 2.51B▲ 5.7% | 2.55B▲ 0% |
| FCF Growth % | 6904.05% | 287.91% | 35.03% | 29.65% | 1.47% | 117.21% | 12.13% | 9.05% | 5.67% | 5.18% |
| FCF / Revenue % | 64.4% | 56.04% | 75.93% | 71.87% | 59.21% | 74.65% | 60.27% | 61.67% | 62.62% | 62.99% |
VICI Properties Inc. (VICI) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| FFO per Share | 0.14 | 1.44 | 1.25 | 1.75 | 1.76 | 1.27 | 2.48 | 2.56 | 2.62 | 2.91 |
| FFO Payout Ratio | 0% | 49.82% | 91.66% | 68.37% | 74.61% | 108.77% | 62.9% | 65.34% | 66.69% | 60.36% |
| NOI Margin | 83.24% | 88.96% | 97.89% | 97.27% | 98.62% | 99.13% | 99.25% | 99.3% | 99.15% | 99.22% |
| Net Debt / EBITDA | 33.27x | 4.65x | 4.39x | 7.36x | 2.94x | 8.78x | 5.11x | 4.83x | -0.15x | -0.15x |
| Debt / Assets | 52.22% | 36.37% | 36.32% | 41.42% | 28.37% | 38.77% | 40.01% | 38.9% | - | 0% |
| Interest Coverage | 1.67x | 3.51x | 3.24x | 3.91x | 3.61x | 3.11x | 4.12x | 4.31x | 4.45x | - |
| Book Value / Share | 14.58 | 18.79 | 18.33 | 18.58 | 21.12 | 25.34 | 25.26 | 25.73 | 26.56 | 26.78 |
| Revenue Growth | 972.32% | 345.79% | -0.35% | 36.97% | 23.17% | 72.28% | 38.89% | 6.57% | 4.08% | 4.28% |
VICI Properties Inc. (VICI) SEC filings — annual & quarterly reports (10-K, 10-Q)
Apr 29, 2026·SEC
Apr 28, 2026·SEC
Feb 25, 2026·SEC
VICI Properties Inc. (VICI) stock FAQ — growth, dividends, profitability & financials explained
VICI Properties Inc. (VICI) reported $4.05B in revenue for fiscal year 2025. This represents a 22294% increase from $18.1M in 2015.
VICI Properties Inc. (VICI) grew revenue by 4.1% over the past year. Growth has been modest.
Yes, VICI Properties Inc. (VICI) is profitable, generating $3.10B in net income for fiscal year 2025 (69.3% net margin).
Yes, VICI Properties Inc. (VICI) pays a dividend with a yield of 6.17%. This makes it attractive for income-focused investors.
VICI Properties Inc. (VICI) has a return on equity (ROE) of 10.1%. This is reasonable for most industries.
VICI Properties Inc. (VICI) generated Funds From Operations (FFO) of $3.11B in the trailing twelve months. FFO is the primary profitability metric for REITs.
VICI Properties Inc. (VICI) offers a 6.17% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.
VICI Properties Inc. (VICI) financial analysis — history, returns, DCA and operating performance tools
Analyst verdict, bull/bear case, risk factors and peer comparison
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates