VICI Properties Inc.

NYSE-VICI

Basic

Market Cap
$31.8B
EV
$49.33B
Shares Out
1,043.18M
Revenue
$3,685.82M
Employees
28

Margins

Gross
99%
EBITDA
92.67%
Operating
92.54%
Pre-Tax
71.11%
Net
70.13%
FCF
59.76%

Returns (5Yr Avg)

ROA
5%
ROTA
8.42%
ROE
8.42%
ROCE
6.83%
ROIC
6.97%

Valuation (TTM)

P/E
—
P/B
—
P/FFO
—
P/Adjusted FFO
—
EV/Sales
—
EV/EBITDA
—
P/FCF
—
EV/Gross Profit
—

Valuation (NTM)

Price Target
$35.08
P/E
—
PEG
—
P/FFO
—
P/Adjusted FFO
—
EV/Sales
—
EV/EBITDA
—
P/FCF
—

Financial Health

Cash
$485.32M
Net Debt
$17.13B
Debt/Equity
0.68
EBIT/Interest
4.17

Growth (CAGR)

Rev 3Yr
39.94%
Rev 5Yr
32.76%
Rev 10Yr
—
Dil EPS 3Yr
3.94%
Dil EPS 5Yr
11.39%
Dil EPS 10Yr
—
Rev Fwd 2Yr
4.64%
EBITDA Fwd 2Yr
6.44%
EPS Fwd 2Yr
5.82%
EPS LT Growth Est
4.51%

Dividends

Yield
—
Payout
64.82%
DPS
$1.64
DPS Growth 3Yr
8.29%
DPS Growth 5Yr
7.76%
DPS Growth 10Yr
—
DPS Growth Fwd 2Yr
4.15%

Metric	Dec '14	Dec '15	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	LTM
Operating Revenues	—	—	—			43.7	25.5	—	—	—	—
Interest And Invest. Income	—	—	—			822.2	1,160.5	1,451.2	2,505.5	3,499.7	3,572.3
Other Revenues, Total						28.9	39.6	58.4	155	113.6	113.5
Total Revenues						894.8	1,225.6	1,509.6	2,660.5	3,613.3	3,685.8
Total Revenues % Chg.	—					-0.4%	37%	23.2%	76.2%	35.8%	18%
Cost of Goods Sold, Total						23.9	26.3	31.2	45.3	35.1	36.9
Gross Profit						870.9	1,199.3	1,478.4	2,615.2	3,578.2	3,648.9
Selling General & Admin Expenses, Total						24.6	30.7	33.1	53.7	66.2	67.4
Provision for Bad Debts	—	—	—	—	—	—	244.5	-19.6	834.5	102.8	98.3
Depreciation & Amortization						3.8	3.7	3.1	3.2	4.3	4.6
Other Operating Expenses	—	—	—	—		—	15.8	27.8	54.3	66.7	67.7
Other Operating Expenses, Total						28.4	294.7	44.5	945.6	240.1	238
Operating Income						842.5	904.6	1,433.9	1,669.6	3,338.1	3,410.9
Interest Expense, Total						-248.4	-308.6	-392.4	-540	-818.1	-818.6
Interest And Investment Income	—	—	—			20	6.8	0.1	9.5	24	26.2
Net Interest Expenses						-228.4	-301.8	-392.3	-530.4	-794.1	-792.4
Currency Exchange Gains (Loss)	—	—	—	—	—	—	—	—	—	—	-2.1
Other Non Operating Income (Expenses)	—	—	—	—	—	—	—	—	—	4.5	4.5
EBT, Excl. Unusual Items	—	—	—			614.1	602.7	1,041.7	1,139.1	2,548.5	2,620.9
Asset Writedown	—	—	—	—		—	—	—	—	—	—
Other Unusual Items	—	—	—			-58.1	294.3	-15.6	—	—	—
EBT, Incl. Unusual Items	—	—	—			556	897	1,026	1,139.1	2,548.5	2,620.9
Income Tax Expense			—			1.7	0.8	2.9	2.9	-6.1	-5.7
Earnings From Continuing Operations			—			554.3	896.2	1,023.2	1,136.3	2,554.6	2,626.6
Minority Interest	—	—	—			-8.3	-4.5	-9.3	-18.6	-41.1	-41.7
Net Income			—			546	891.7	1,013.9	1,117.6	2,513.5	2,584.8
Net Income to Common Incl Extra Items			—			546	891.7	1,013.9	1,117.6	2,513.5	2,584.8
Net Income to Common Excl. Extra Items			—			546	891.7	1,013.9	1,117.6	2,513.5	2,584.8
Total Shares Outstanding	—	—	—			461	536.7	628.9	963.1	1,042.7	1,043.1
Weighted Avg. Shares Outstanding	—	—	—			435.1	506.1	564.5	877.5	1,014.5	1,024.7
Weighted Avg. Shares Outstanding Dil	—	—	—			439.2	510.9	577.1	879.7	1,015.8	1,025.6
EPS	—	—	—			1.3	1.8	1.8	1.3	2.5	2.5
EPS Diluted	—	—	—			1.2	1.7	1.8	1.3	2.5	2.5
EBITDA						846.3	908.3	1,437	1,672.7	3,342.4	3,415.5
Effective Tax Rate	—	—	—			0.3%	0.1%	0.3%	0.3%	-0.2%	-0.2%