VICI Properties Inc. (VICI) P/E Ratio History
Deep ValueTrading at 9.1x · 0th percentile of 5-year range · Significant discount to historical valuation · Data 2017–2026
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P/E Ratio Analysis
As of September 24, 2026, VICI Properties Inc. (VICI) trades at a price-to-earnings ratio of 9.1x, with a stock price of $23.71 and trailing twelve-month earnings per share of $2.54.
The current P/E is 42% below its 5-year average of 15.6x. Over the past five years, VICI's P/E has ranged from a low of 9.4x to a high of 29.6x, placing the current valuation at the 0th percentile of its historical range.
Compared to the Real Estate sector median P/E of 22.2x, VICI trades at a 59% discount to its sector peers. The sector includes 175 companies with P/E ratios ranging from 0.0x to 184.4x.
The PEG ratio of 1.09 (P/E divided by 2% EPS growth) suggests a fair valuation relative to its earnings growth. Peter Lynch popularized the rule that a PEG below 1.0 indicates an attractive entry point.
Relative to the broader market, VICI trades at a notable discount to the S&P 500 median P/E of 25.3x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our VICI DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
VICI Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
VICI P/E vs Peers
Net Lease and Ground Lease REITs peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $11B | 13.4Lowest | 2.65 | +2% | |
| $4B | 17.4 | - | +105%Best | |
| $52B | 47.5 | - | +19% | |
| $8B | 20.0 | 1.79Best | -4% | |
| $15B | 31.5 | - | +1% | |
| $8B | 37.9 | - | -1% | |
| $10B | 49.8 | - | -68% | |
| $8B | 25.9 | - | -28% | |
| $25B | 16.7 | - | +20% |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
VICI Historical P/E Data (2017–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q2 | - | $26.55 | $2.58 | 10.3x | -52% |
| FY2026 Q1 | - | $27.32 | $2.92 | 9.4x | -56% |
| FY2025 Q4 | Dec 31 2025 | $28.12 | $2.61 | 10.8x | -49% |
| FY2025 Q3 | - | $32.61 | $2.62 | 12.4x | -42% |
| FY2025 Q2 | Jun 30 2025 | $32.60 | $2.61 | 12.5x | -41% |
| FY2025 Q1 | Mar 31 2025 | $32.62 | $2.50 | 13.0x | -39% |
| FY2024 Q4 | - | $29.21 | $2.56 | 11.4x | -46% |
| FY2024 Q3 | Sep 30 2024 | $33.31 | $2.70 | 12.3x | -42% |
| FY2024 Q2 | Jun 30 2024 | $28.64 | $2.55 | 11.2x | -47% |
| FY2024 Q1 | Mar 31 2024 | $29.79 | $2.53 | 11.8x | -45% |
| FY2023 Q4 | Dec 31 2023 | $31.88 | $2.48 | 12.9x | -40% |
| FY2023 Q3 | Sep 30 2023 | $29.10 | $2.39 | 12.2x | -43% |
| FY2023 Q2 | Jun 30 2023 | $31.43 | $2.18 | 14.4x | -32% |
| FY2023 Q1 | Mar 31 2023 | $32.62 | $1.43 | 22.9x | +8% |
| FY2022 Q4 | Dec 31 2022 | $32.40 | $1.26 | 25.8x | +21% |
| FY2022 Q3 | Sep 30 2022 | $29.85 | $1.07 | 28.0x | +32% |
| FY2022 Q2 | - | $29.79 | $1.01 | 29.6x | +39% |
| FY2022 Q1 | - | $28.46 | $1.61 | 17.7x | -17% |
| FY2021 Q4 | Dec 31 2021 | $30.11 | $1.76 | 17.1x | -20% |
| FY2021 Q3 | - | $28.41 | $1.85 | 15.4x | -28% |
| FY2021 Q2 | Jun 30 2021 | $31.02 | $2.31 | 13.4x | -37% |
| FY2021 Q1 | Mar 31 2021 | $28.24 | $2.24 | 12.6x | -41% |
| FY2020 Q4 | - | $25.50 | $1.69 | 15.1x | -29% |
| FY2020 Q3 | Sep 30 2020 | $23.37 | $1.37 | 17.1x | -20% |
| FY2020 Q2 | - | $20.19 | $0.94 | 21.5x | +1% |
| FY2020 Q1 | - | $16.64 | $0.84 | 19.8x | -7% |
| FY2019 Q4 | - | $25.55 | $1.26 | 20.3x | -5% |
| FY2019 Q3 | Sep 30 2019 | $22.65 | $1.42 | 16.0x | -25% |
| FY2019 Q2 | Jun 30 2019 | $22.04 | $1.46 | 15.1x | -29% |
| FY2019 Q1 | Mar 31 2019 | $21.88 | $1.47 | 14.9x | -30% |
| FY2018 Q4 | Dec 31 2018 | $18.78 | $1.43 | 13.1x | -38% |
| FY2018 Q3 | Sep 30 2018 | $21.62 | $1.18 | 18.3x | -14% |
| FY2018 Q2 | Jun 30 2018 | $20.64 | $0.83 | 24.9x | +17% |
| FY2018 Q1 | Mar 31 2018 | $18.32 | $0.45 | 40.7x | +91% |
| FY2017 Q4 | Dec 31 2017 | $20.50 | $0.12 | 170.8x | +703% |
Average P/E for displayed period: 21.3x
VICI Chart Terminal
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Intrinsic Valuation
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Historical Returns
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Peer Comparison
Compare growth, multiples, and margins vs sector.
VICI — Frequently Asked Questions
Quick answers to the most common questions about buying VICI stock.
What is VICI's P/E ratio?
VICI Properties Inc. (VICI) trailing twelve-month P/E ratio is 9.1x, based on TTM diluted EPS of $2.54. The 5-year average P/E is 15.6x and the historical range spans 9.4x to 29.6x.
Is VICI stock overvalued or undervalued?
VICI trades at 9.1x P/E, below its 5-year average of 15.6x. At the 0th percentile of its historical range (9.4x–29.6x), the stock is priced at a discount to its own history.
Is VICI stock expensive?
No, VICI is not expensive on a historical basis. The current P/E of 9.1x is below the 5-year average of 15.6x and sits at the 0th percentile of its valuation range.
What is VICI's historical P/E range?
Over the past 5 years, VICI's P/E ratio has ranged from 9.4x to 29.6x, with a median of 12.9x and an average of 15.6x. The current P/E of 9.1x places the stock at the 0th percentile of this range. Full historical data spans 2017–2026.
How does VICI's P/E compare to the S&P 500?
VICI trades at 9.1x P/E versus the S&P 500 median of 25.3x. The 64% discount to the market suggests lower growth expectations or perceived higher risk.
How does VICI's valuation compare to Real Estate peers?
VICI Properties Inc. P/E of 9.1x compares to the Real Estate sector median of 22.2x. The discount suggests lower growth expectations, weaker margins, or higher perceived risk relative to peers. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is VICI's PEG ratio?
VICI PEG ratio is 1.09, based on a P/E of 9.1x and EPS growth of 2.0%. A PEG between 1 and 2 suggests valuation aligns with growth expectations — typically considered fair.
What is VICI's earnings yield?
VICI earnings yield is 11.01%, the inverse of its 9.1x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.