VICI's revenue grew steadily from $957.0M in 2024Q2 to roughly $1.1B in 2026Q2, and NOI margins held between 97.6% and 99.4%, pointing to a durable triple-net lease base.
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue climbed from $957.0M to about $1.1B over ten quarters with NOI margins near ceiling at 97.6% to 99.4%, yet FFO per share ranging from $0.31 to $0.82 suggests earnings quality warrants further investigation.
VICI’s net margin exceeds 69%, reflecting efficient management and strong profitability. The triple‑net lease structure transfers operational risk to tenants, delivering high EBITDA margins and predictable cash flows that are further protected by inflation‑linked escalators.
The company offers a forward dividend yield of about 6.59%, positioning it as a potential Dividend Aristocrat. VICI has a track record of dividend increases, minimal share dilution, and growing AFFO per share, enhancing dividend security.
Beyond gaming real estate, VICI is expanding into college sports infrastructure and entertainment venues, broadening its growth opportunities. This diversification reduces reliance on gaming and makes the business model more resilient to sector disruption.
Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Oct 28, 2026 | $0.31-56.9% vs $0.72 | $1.1B+0.5% vs $1.1B |
Q3 2026 Jul 29, 2026 | $0.48-32.7% vs $0.71 | $1.1B+1.9% vs $1.0B |
Q2 2026 Apr 29, 2026 | $0.82+16.0% vs $0.71 | $1.0B+0.4% vs $1.0B |
Q1 2026 Feb 25, 2026 | $0.57-18.1% vs $0.70 | $1.0B+0.4% vs $1.0B |
VICI Properties' Q3 2026 earnings call spotlights a $2 billion buyback plan, higher AFFO guidance and Caesars lease uncertainty amid refinancing and tenant credit risks.
VICI Properties Inc. (VICI) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, VICI broke through the 50-day moving average, which suggests a short-term bullish trend.
VICI Properties authorized a $2 billion share buyback, representing 7.7% of shares, capitalizing on a 29% discount to intrinsic value. VICI's AFFO per share has grown consistently, with 2026 guidance at $2.475, and the payout ratio has declined to 74%, enhancing retained cash for buybacks. Despite a non-cash credit-loss allowance increase tied to Caesars, AFFO and dividends remain unaffected, and leverage stays within management's 5.0x–5.5x target.
VICI Properties Inc. ( VICI ) Q3 2026 Earnings Call October 29, 2026 10:00 AM EDT Company Participants Samantha Gallagher - Executive VP, General Counsel & Secretary John W. Payne - President & COO Edward Pitoniak - CEO & Director David Kieske - Executive VP, CFO & Treasurer Gabriel Wasserman - MD of Business Development and VICI Experiential Credit Solutions (V.E.C.S.
Benchmark VICI against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for VICI Properties Inc. (VICI)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $24.79 | $27.3B | 11.63 | 4.08% | 56.46% | 8.1% | 7.04% | |
| $38.89 | $11.01B | 12.10 | 4.13% | 55.24% | 18% | 8.01% | |
| $59.51 | $4.55B | 15.49 | 12.07% | 38.83% | 12.78% | 6.39% | |
| $59.04 | $55.05B | 39.76 | 9.07% | 23.15% | 3.4% | 5.47% | |
| $41.12 | $7.82B | 19.78 | 6.55% | 40.89% | 8.93% | 5.73% | |
| $65.05 | $14.82B | 23.13 | 8.89% | 38.11% | 7.67% | 5.49% |
VICI Properties Inc. (VICI) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
VICI Properties Inc. (VICI) SEC filings — annual & quarterly reports (10-K, 10-Q)
Oct 28, 2026·SEC
Aug 14, 2026·SEC
Aug 6, 2026·SEC
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VICI Properties Inc. (VICI) stock FAQ — growth, dividends, profitability & financials explained
VICI Properties Inc. (VICI) reported $4.16B in revenue over the trailing twelve months. Revenue was $4.01B in fiscal year 2025. That is 22061% more than the $18.1M of fiscal year 2015.
VICI Properties Inc. (VICI) grew revenue by 4.7% over the trailing twelve months, compared with the twelve months before.
Yes. VICI Properties Inc. (VICI) earned $2.35B in net income over the trailing twelve months (a 56.5% net margin).
Yes. VICI Properties Inc. (VICI) pays a dividend that yields 7.04% at the current price, a high yield.
VICI Properties Inc. (VICI) had a return on equity (ROE) of 8.1% over the trailing twelve months. That is below the market's typical 10-15%.
VICI Properties Inc. (VICI) generated Funds From Operations (FFO) of $2.35B in the trailing twelve months. FFO is the primary profitability metric for REITs.
VICI Properties Inc. (VICI) offers a 7.04% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.
