VICI

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VICI Properties Inc.

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Key Metrics

Previous Close: $26.37
52-Week Range: $25.81 – $33.92
Market Cap: $29.26B
P/E (TTM): 10.30
EPS (TTM): 2.58
Dividend Yield: 6.83%

Advanced Metrics

Price/Book: 1.01
PEG Ratio: —
Return on Equity: 9.85%
Return on Assets: 4.82%
Gross Margin: 99.27%
Operating Margin: 70.18%
Profit Margin: 67.50%
Current Ratio: 11.24
Debt/Equity: 0.60
Total Debt: $17.84B
Free Cash Flow: $267.03M
Revenue Growth: 5.70%
Earnings Growth: -41.40%
Enterprise Value: $47.01B

VICI Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$2.60B	$3.61B	$3.85B	$4.01B
Cost of Revenue	$22.60M	$27.09M	$26.89M	$26.73M
Gross Profit	$2.58B	$3.58B	$3.82B	$3.98B
Selling, General & Admin	$48.34M	$59.60M	$69.11M	$65.08M
Operating Expenses	$945.64M	$240.05M	$277.38M	$324.08M
Operating Income	$1.63B	$3.34B	$3.54B	$3.66B
EBITDA	$1.68B	$3.37B	$3.56B	$3.67B
Pretax Income	$1.14B	$2.55B	$2.73B	$2.82B
Income Tax	$2.88M	-$6.14M	$9.70M	$2.44M
Net Income	$1.12B	$2.51B	$2.68B	$2.78B
Diluted EPS	1.27	2.47	2.56	2.61
Diluted Shares	879.68M	1.02B	1.05B	1.06B

VICI Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$208.93M	$522.57M	$524.62M	$563.48M
Receivables	$16.76B	$18.24B	$18.45B	$18.73B
Current Assets	$17.19B	$18.76B	$18.98B	$19.34B
Total Assets	$37.58B	$44.06B	$45.37B	$46.72B
Current Liabilities	$593.57M	$664.84M	$679.91M	$724.97M
Long-Term Debt	$13.74B	$16.72B	$16.73B	$16.77B
Total Debt	$14.57B	$17.63B	$17.65B	$17.69B
Total Liabilities	$15.29B	$18.40B	$18.42B	$18.50B
Retained Earnings	$93.15M	$965.76M	$1.87B	$2.77B
Shareholders' Equity	$21.93B	$25.26B	$26.54B	$27.80B
Working Capital	$16.60B	$18.10B	$18.30B	$18.62B
Net Debt	$13.53B	$16.20B	$16.21B	$16.21B

VICI Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$1.94B	$2.18B	$2.38B	$2.51B
Capital Expenditure	-$1.88M	-$4.04M	-$7.53M	-$1.33M
Free Cash Flow	$1.94B	$2.18B	$2.37B	$2.51B
Depreciation & Amortisation	$3.18M	$4.30M	$4.13M	$3.64M
Stock-Based Compensation	$12.99M	$15.54M	$17.51M	$16.20M
Investing Cash Flow	-$9.30B	-$2.90B	-$922.78M	-$904.77M
Financing Cash Flow	$6.83B	$1.03B	-$1.46B	-$1.57B
Dividends Paid	-$1.22B	-$1.58B	-$1.75B	-$1.85B
Share Repurchases	-$6.16M	-$4.97M	-$5.34M	-$7.23M
Net Change in Cash	-$530.68M	$313.70M	$1.60M	$38.70M

VICI Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$1.00B	$1.01B	$1.01B	$1.02B	$1.06B
Cost of Revenue	$6.62M	$6.76M	$6.99M	$6.47M	$7.39M
Gross Profit	$994.72M	$1.00B	$1.01B	$1.01B	$1.05B
Selling, General & Admin	$14.56M	$16.34M	$19.32M	$15.98M	$15.43M
Operating Expenses	-$107.16M	$16.68M	$192.25M	-$82.93M	$306.40M
Operating Income	$1.10B	$984.05M	$813.85M	$1.09B	$744.71M
EBITDA	$1.10B	$988.77M	$820.93M	$1.10B	$745.77M
Pretax Income	$883.93M	$777.50M	$609.73M	$889.93M	$534.85M
Income Tax	$5.56M	$3.88M	-$4.56M	$3.97M	-$461.00K
Net Income	$865.08M	$762.04M	$604.77M	$872.39M	$526.52M
Diluted EPS	0.82	0.71	0.57	0.82	0.48
Diluted Shares	1.06B	1.07B	1.07B	1.07B	1.09B

VICI Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$232.98M	$507.50M	$563.48M	$480.21M	$288.06M
Receivables	$20.90B	$21.03B	$18.73B	$21.47B	$22.15B
Current Assets	$21.14B	$21.54B	$19.34B	$21.95B	$22.44B
Total Assets	$46.05B	$46.54B	$46.72B	$47.09B	$48.27B
Current Liabilities	$681.93M	$668.91M	$724.97M	$659.83M	$721.17M
Long-Term Debt	$16.92B	$16.76B	$16.77B	$16.79B	$16.93B
Total Debt	$17.84B	$17.68B	$17.69B	$17.70B	$17.84B
Total Liabilities	$18.61B	$18.44B	$18.50B	$18.47B	$18.67B
Retained Earnings	$2.36B	$2.64B	$2.77B	$3.16B	$3.19B
Shareholders' Equity	$27.02B	$27.67B	$27.80B	$28.19B	$29.17B
Working Capital	$20.45B	$20.87B	$18.62B	$21.29B	$21.72B
Net Debt	$16.69B	$16.26B	$16.21B	$16.31B	$16.64B

VICI Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$639.90M	$586.29M	$691.94M	$631.86M	$728.18M
Capital Expenditure	-$672.00K	-$205.00K	-$302.00K	-$628.00K	-$166.00K
Free Cash Flow	$639.23M	$586.08M	$691.64M	$631.24M	$728.01M
Depreciation & Amortisation	$741.00K	$937.00K	$963.00K	$967.00K	$998.00K
Stock-Based Compensation	$4.44M	$4.42M	$4.44M	$4.13M	$4.61M
Investing Cash Flow	-$329.76M	-$50.12M	-$139.31M	-$222.90M	-$802.93M
Financing Cash Flow	-$411.65M	-$261.80M	-$496.31M	-$492.08M	-$117.18M
Dividends Paid	-$456.89M	-$456.81M	-$480.74M	-$481.43M	-$480.87M
Share Repurchases	-$44.00K	-$11.00K	$0.00	-$2.30M	$0.00
Net Change in Cash	-$101.51M	$274.38M	$56.33M	-$83.12M	-$191.93M

Market Snapshot

About

VICI Properties is an experiential real estate investment trust that owns one of the largest portfolios of gaming, hospitality, and entertainment properties. The company operates as a triple-net lease REIT, with properties leased to industry-leading gaming and hospitality operators.