GLPI

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Gaming and Leisure Properties, Inc.

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Key Metrics

Previous Close: $42.90
52-Week Range: $41.17 – $49.95
Market Cap: $13.09B
P/E (TTM): 12.78
EPS (TTM): 3.42
Dividend Yield: 7.65%

Advanced Metrics

Price/Book: 2.55
PEG Ratio: —
Return on Equity: 19.35%
Return on Assets: 6.42%
Gross Margin: 102.15%
Operating Margin: 77.48%
Profit Margin: 58.53%
Current Ratio: 24.29
Debt/Equity: 1.56
Total Debt: $8.38B
Free Cash Flow: $506.75M
Revenue Growth: 9.00%
Earnings Growth: 47.90%
Enterprise Value: $20.94B

GLPI Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$1.31B	$1.44B	$1.53B	$1.59B
Cost of Revenue	$52.35M	$45.93M	$47.67M	$55.41M
Gross Profit	$1.26B	$1.39B	$1.48B	$1.54B
Selling, General & Admin	$51.32M	$56.45M	$59.57M	$57.19M
Operating Expenses	$296.90M	$325.78M	$356.98M	$331.72M
Operating Income	$962.43M	$1.07B	$1.13B	$1.21B
EBITDA	$1.28B	$1.36B	$1.45B	$1.51B
Pretax Income	$720.34M	$757.37M	$809.78M	$852.59M
Income Tax	$17.05M	$2.00M	$2.13M	$2.23M
Net Income	$684.65M	$734.28M	$784.62M	$825.11M
Diluted EPS	2.70	2.77	2.87	2.95
Diluted Shares	253.85M	264.99M	273.53M	280.04M

GLPI Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$239.08M	$683.98M	$462.63M	$224.31M
Receivables	$1.90B	$2.06B	$2.49B	$2.81B
Current Assets	$2.14B	$2.75B	$3.52B	$3.03B
Total Assets	$10.93B	$11.81B	$13.08B	$12.91B
Current Liabilities	$420.37M	$382.47M	$347.22M	$328.89M
Long-Term Debt	$6.13B	$6.63B	$7.74B	$7.20B
Total Debt	$6.36B	$6.88B	$8.04B	$7.51B
Total Liabilities	$6.81B	$7.30B	$8.43B	$7.90B
Retained Earnings	-$1.80B	-$1.90B	-$1.94B	-$1.99B
Shareholders' Equity	$3.78B	$4.16B	$4.27B	$4.63B
Working Capital	$1.72B	$2.36B	$3.17B	$2.70B
Net Debt	$5.89B	$5.94B	$7.27B	$6.98B

GLPI Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$920.13M	$1.01B	$1.07B	$1.13B
Capital Expenditure	-$24.02M	-$47.44M	-$39.69M	-$304.44M
Free Cash Flow	$896.10M	$961.93M	$1.03B	$824.97M
Depreciation & Amortisation	$254.55M	$276.42M	$273.42M	$282.94M
Stock-Based Compensation	$20.43M	$22.87M	$24.26M	$21.18M
Investing Cash Flow	-$354.49M	-$650.83M	-$1.61B	-$308.76M
Financing Cash Flow	-$1.05B	$86.35M	$311.82M	-$1.06B
Dividends Paid	-$770.86M	-$833.98M	-$830.72M	-$871.87M
Net Change in Cash	-$485.51M	$444.90M	-$221.35M	-$238.32M

GLPI Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$394.88M	$397.61M	$407.03M	$419.99M	$430.52M
Cost of Revenue	$13.94M	$13.79M	$14.13M	$13.80M	$14.15M
Gross Profit	$380.93M	$383.82M	$392.90M	$406.19M	$416.37M
Selling, General & Admin	$15.91M	$16.55M	$6.02M	$17.94M	$13.24M
Operating Expenses	$138.87M	$46.66M	$23.21M	$72.84M	$82.81M
Operating Income	$242.06M	$337.16M	$369.69M	$333.35M	$333.56M
EBITDA	$320.15M	$414.84M	$436.95M	$405.13M	$407.10M
Pretax Income	$156.71M	$249.04M	$275.92M	$239.96M	$235.54M
Income Tax	$545.00K	$560.00K	$560.00K	$560.00K	$601.00K
Net Income	$151.44M	$241.19M	$267.30M	$231.83M	$228.42M
Diluted EPS	0.54	0.85	0.94	0.82	0.80
Diluted Shares	277.68M	283.75M	284.36M	283.48M	285.86M

GLPI Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$604.16M	$751.72M	$224.31M	$274.51M	$319.00M
Receivables	$2.44B	$2.49B	$2.81B	$2.86B	$2.86B
Current Assets	$3.04B	$3.24B	$3.03B	$3.14B	$3.18B
Total Assets	$12.49B	$12.79B	$12.91B	$13.77B	$14.16B
Current Liabilities	$317.13M	$278.25M	$328.89M	$297.44M	$337.32M
Long-Term Debt	$6.89B	$7.20B	$7.20B	$8.08B	$8.08B
Total Debt	$7.20B	$7.51B	$7.51B	$8.38B	$8.38B
Total Liabilities	$7.56B	$7.83B	$7.90B	$8.73B	$8.77B
Retained Earnings	-$2.06B	-$2.04B	-$1.99B	-$1.98B	-$1.99B
Shareholders' Equity	$4.55B	$4.58B	$4.63B	$4.63B	$4.98B
Working Capital	$2.72B	$2.96B	$2.70B	$2.84B	$2.84B
Net Debt	$6.29B	$6.45B	$6.98B	$7.80B	$7.76B

GLPI Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$293.38M	$240.31M	$343.24M	$270.23M	$349.60M
Capital Expenditure	-$21.19M	-$23.35M	-$246.99M	-$111.48M	-$193.83M
Free Cash Flow	$272.18M	$216.95M	$96.25M	$158.75M	$155.77M
Depreciation & Amortisation	$73.50M	$71.74M	$68.41M	$69.31M	$70.85M
Stock-Based Compensation	$6.16M	$1.55M	$4.62M	$8.10M	$4.64M
Investing Cash Flow	-$33.65M	-$166.87M	-$642.24M	-$853.54M	-$409.24M
Financing Cash Flow	$175.56M	$74.11M	-$228.41M	$633.51M	$104.13M
Dividends Paid	-$220.93M	-$220.94M	-$220.94M	-$221.07M	-$238.63M
Net Change in Cash	$435.29M	$147.55M	-$527.40M	$50.20M	$44.49M

Market Snapshot

About

Gaming and Leisure Properties, Inc. is a real estate investment trust (REIT) focused on acquiring, financing, and owning gaming and leisure properties. The company owns a portfolio of gaming facilities that are leased primarily to Penn Entertainment and other regional gaming operators under long-term triple-net lease agreements. GLPI's properties include casinos, slot facilities, and related amenities located across multiple states in the United States. The company's business model provides stable, predictable cash flows through long-term leases with built-in rent escalators. Gaming and Leisure Properties was spun off from Penn National Gaming in 2013 and has since expanded its portfolio through strategic acquisitions. As a REIT, the company is required to distribute at least 90% of its taxable income to shareholders as dividends. GLPI's tenant diversification strategy includes expanding relationships beyond its original Penn Entertainment lease agreements.