Gaming and Leisure Properties, Inc. (GLPI) Financial Ratios
14 years of historical data (2012–2025) · Real Estate · REIT - Specialty
EV/EBITDA
↓
14.26
-3% vs avg
5yr avg: 14.75
30Y Low12.5·High89.0
P/FCF
↑
16.49
+16% vs avg
5yr avg: 14.17
30Y Low10.7·High87.2
P/B Ratio
↓
2.69
-10% vs avg
5yr avg: 2.97
30Y Low2.3·High40.7
ROE
↓
17.1%
-2% vs avg
5yr avg: 17.4%
30Y Low10%·High27%
Debt/EBITDA
↓
5.25
↓-4% vs avg
5yr avg: 5.45
30Y Low4.6·High29.6
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
GLPI Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Gaming and Leisure Properties, Inc. trades at 16.3x earnings, 10% below its 5-year average of 18.1x, sitting at the 8th percentile of its historical range. Compared to the Real Estate sector median P/E of 24.3x, the stock trades at a discount of 33%. On a free-cash-flow basis, the stock trades at 16.5x P/FCF, 16% above the 5-year average of 14.2x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $13.6B | $12.5B | $13.2B | $13.1B | $13.2B | $11.5B | $9.3B | $9.3B | $6.9B | $7.9B | $5.5B |
| Enterprise Value | $21.2B | $20.1B | $20.8B | $19.3B | $19.3B | $17.6B | $14.7B | $15.2B | $13.2B | $12.3B | $10.3B |
| P/E Ratio → | 16.34 | 15.20 | 16.78 | 17.82 | 19.29 | 21.53 | 18.43 | 23.78 | 20.45 | 20.67 | 19.14 |
| P/S Ratio | 8.53 | 7.84 | 8.60 | 9.08 | 10.08 | 9.45 | 8.08 | 8.05 | 6.57 | 8.10 | 6.68 |
| P/B Ratio | 2.69 | 2.50 | 2.84 | 2.90 | 3.21 | 3.39 | 3.48 | 4.48 | 3.06 | 3.20 | 2.27 |
| P/FCF | 16.49 | 15.16 | 12.75 | 13.59 | 14.76 | 14.60 | 21.95 | 12.43 | 10.67 | 13.22 | 10.84 |
| P/OCF | 12.05 | 11.08 | 12.28 | 12.96 | 14.37 | 14.30 | 21.77 | 12.38 | 10.60 | 13.15 | 10.76 |
P/E links to full P/E history page with 30-year chart
GLPI EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Gaming and Leisure Properties, Inc.'s enterprise value stands at 14.3x EBITDA, roughly in line with its 5-year average of 14.8x. The Real Estate sector median is 16.7x, placing the stock at a 15% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 12.59 | 13.55 | 13.38 | 14.75 | 14.44 | 12.78 | 13.20 | 12.47 | 12.65 | 12.47 |
| EV / EBITDA | 14.26 | 13.53 | 14.78 | 14.33 | 15.06 | 16.05 | 14.01 | 15.60 | 13.22 | 12.65 | 12.47 |
| EV / EBIT | 17.62 | 16.37 | 17.64 | 17.83 | 18.79 | 20.77 | 18.62 | 21.85 | 22.24 | 20.22 | 21.40 |
| EV / FCF | — | 24.34 | 20.09 | 20.03 | 21.59 | 22.30 | 34.72 | 20.38 | 20.26 | 20.63 | 20.22 |
GLPI Profitability
Margins and return-on-capital ratios measuring operating efficiency
Gaming and Leisure Properties, Inc. earns an operating margin of 75.3%, significantly above the Real Estate sector average of 25.0%. Operating margins have expanded from 74.2% to 75.3% over the past 3 years, signaling improving operational efficiency. ROE of 17.1% indicates solid capital efficiency. ROIC of 7.3% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 62.1% | 62.1% | 96.9% | 96.8% | 96.0% | 92.6% | 92.6% | 89.8% | 81.6% | 80.5% | 81.7% |
| Operating Margin | 75.3% | 75.3% | 73.8% | 74.2% | 78.5% | 69.2% | 70.2% | 62.2% | 56.2% | 62.3% | 58.0% |
| Net Profit Margin | 51.7% | 51.7% | 51.2% | 51.0% | 52.2% | 43.9% | 43.9% | 33.9% | 32.2% | 39.2% | 34.9% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 17.1% | 17.1% | 17.1% | 17.0% | 18.2% | 17.6% | 21.3% | 18.0% | 14.4% | 15.6% | 26.5% |
| ROA | 6.3% | 6.3% | 6.2% | 6.5% | 6.3% | 5.4% | 5.8% | 4.6% | 4.3% | 5.2% | 5.9% |
| ROIC | 7.3% | 7.3% | 7.4% | 7.7% | 7.8% | 7.2% | 7.5% | 6.5% | 5.8% | 6.4% | 7.6% |
| ROCE | 9.3% | 9.3% | 9.3% | 9.7% | 9.9% | 8.9% | 9.7% | 8.9% | 7.9% | 8.6% | 10.2% |
GLPI Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Gaming and Leisure Properties, Inc. carries a Debt/EBITDA ratio of 5.2x, which is highly leveraged (33% below the sector average of 7.8x). Net debt stands at $7.6B ($7.8B total debt minus $224M cash). Interest coverage of 3.3x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.56 | 1.56 | 1.73 | 1.53 | 1.55 | 2.00 | 2.21 | 2.88 | 2.76 | 1.81 | 1.98 |
| Debt / EBITDA | 5.25 | 5.25 | 5.73 | 5.11 | 4.95 | 6.21 | 5.61 | 6.11 | 6.28 | 4.57 | 5.83 |
| Net Debt / Equity | — | 1.51 | 1.63 | 1.37 | 1.49 | 1.79 | 2.03 | 2.86 | 2.75 | 1.80 | 1.97 |
| Net Debt / EBITDA | 5.10 | 5.10 | 5.40 | 4.61 | 4.77 | 5.54 | 5.15 | 6.08 | 6.25 | 4.54 | 5.79 |
| Debt / FCF | — | 9.17 | 7.34 | 6.44 | 6.84 | 7.70 | 12.77 | 7.95 | 9.58 | 7.41 | 9.38 |
| Interest Coverage | 3.28 | 3.28 | 3.21 | 3.34 | 3.33 | 2.99 | 2.81 | 2.31 | 2.39 | 2.80 | 2.60 |
GLPI Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Gaming and Leisure Properties, Inc.'s current ratio of 9.56x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 7.18x to 9.56x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 9.56 | 9.56 | 10.86 | 7.18 | 5.10 | 4.25 | 1.33 | 0.81 | 0.86 | 8.40 | 11.09 |
| Quick Ratio | 9.56 | 9.56 | 10.86 | 7.18 | 5.10 | 4.25 | 1.33 | 0.81 | 0.86 | 8.40 | 11.09 |
| Cash Ratio | 9.56 | 9.56 | 2.95 | 1.79 | 0.57 | 1.54 | 1.18 | 0.07 | 0.06 | 0.09 | 0.15 |
| Asset Turnover | — | 0.12 | 0.11 | 0.12 | 0.12 | 0.11 | 0.13 | 0.14 | 0.12 | 0.13 | 0.11 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
GLPI Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Gaming and Leisure Properties, Inc. returns 6.5% to shareholders annually primarily through dividends. The payout ratio exceeds 100% at 105.7%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 6.1% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 6.5% | 7.0% | 6.3% | 6.4% | 5.8% | 5.5% | 2.5% | 6.3% | 7.9% | 6.7% | 7.7% |
| Payout Ratio | 105.7% | 105.7% | 105.9% | 113.6% | 112.6% | 118.7% | 45.6% | 150.7% | 162.1% | 139.1% | 148.1% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.1% | 6.6% | 6.0% | 5.6% | 5.2% | 4.6% | 5.4% | 4.2% | 4.9% | 4.8% | 5.2% |
| FCF Yield | 6.1% | 6.6% | 7.8% | 7.4% | 6.8% | 6.9% | 4.6% | 8.0% | 9.4% | 7.6% | 9.2% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 6.5% | 7.0% | 6.3% | 6.4% | 5.8% | 5.5% | 2.5% | 6.3% | 7.9% | 6.7% | 7.7% |
| Shares Outstanding | — | $280M | $274M | $265M | $254M | $236M | $220M | $216M | $215M | $213M | $181M |
Peer Comparison
Compare GLPI with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 GLPIYou | $14B | 16.3 | 14.3 | 16.5 | 62.1% | 75.3% | 17.1% | 7.3% | 5.2 |
 VICI | $31B | 11.0 | 8.2 | 12.2 | 99.2% | 91.1% | 10.1% | 7.6% | — |
 MPW | $3B | -17.1 | 105.4 | 14.6 | — | — | -4.2% | — | 4.6 |
 NNN | $9B | 21.6 | 15.9 | 12.8 | 38.0% | 61.5% | 8.9% | 4.8% | 5.8 |
 WPC | $16B | 35.0 | 19.3 | 14.8 | 28.6% | 44.4% | 5.6% | 3.5% | 6.8 |
 O | $60B | 54.7 | 22.5 | 15.5 | 89.8% | 28.3% | 2.7% | 1.8% | 8.0 |
 EPRT | $7B | 24.5 | 17.9 | 17.8 | 84.0% | 64.5% | 6.5% | 4.4% | 4.9 |
 ADC | $9B | 43.2 | 20.3 | 18.2 | 87.7% | 47.4% | 3.5% | 2.8% | 5.4 |
 PENN | $2B | -2.9 | 13.8 | — | 27.4% | 3.9% | -36.0% | 1.8% | 11.7 |
 CZR | $6B | -11.5 | 8.9 | 10.9 | 37.7% | 18.1% | -12.5% | 5.4% | 7.5 |
 BYD | $6B | 3.8 | 7.9 | 16.5 | 42.1% | 21.4% | 88.0% | 12.3% | 2.8 |
| Real Estate Median | — | 24.3 | 16.7 | 15.7 | 50.7% | 25.0% | 3.5% | 2.6% | 7.8 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonGLPI — Frequently Asked Questions
Quick answers to the most common questions about buying GLPI stock.
What is Gaming and Leisure Properties, Inc.'s P/E ratio?
Gaming and Leisure Properties, Inc.'s current P/E ratio is 16.3x. The historical average is 19.8x. This places it at the 8th percentile of its historical range.
What is Gaming and Leisure Properties, Inc.'s EV/EBITDA?
Gaming and Leisure Properties, Inc.'s current EV/EBITDA is 14.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 20.1x.
What is Gaming and Leisure Properties, Inc.'s ROE?
Gaming and Leisure Properties, Inc.'s return on equity (ROE) is 17.1%. The historical average is 16.9%.
Is GLPI stock overvalued?
Based on historical data, Gaming and Leisure Properties, Inc. is trading at a P/E of 16.3x. This is at the 8th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Gaming and Leisure Properties, Inc.'s dividend yield?
Gaming and Leisure Properties, Inc.'s current dividend yield is 6.48% with a payout ratio of 105.7%.
What are Gaming and Leisure Properties, Inc.'s profit margins?
Gaming and Leisure Properties, Inc. has 62.1% gross margin and 75.3% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Gaming and Leisure Properties, Inc. have?
Gaming and Leisure Properties, Inc.'s Debt/EBITDA ratio is 5.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.