VICI · Vici Properties Inc.

$26.73 +0.41 (+1.56%) At close · Jul 24

Market Cap

$28.58B

1.07B

Income-statement, balance-sheet and cash-flow figures extracted from the company's SEC filings — 10-K annual and 10-Q quarterly reports — and standardised for comparison across periods.

Revenue

$4.01B +4.1%

FY2025

Net Income

$2.78B +3.6%

FY2025

Gross Margin

99.33% 0pp

FY2025

Operating Margin

26.19% -68pp

FY2020

Diluted EPS

$2.61 +2%

FY2025

Operating Cash Flow

$2.51B +5.4%

FY2025

Chart any reported metric, KPI or segment over time — the full statement history lives here

Income Statement Balance Sheet Cash Flow Adjusted All Metrics

Annual Quarterly

Line Item	3Y	5Y	10Y	FY2026 (G)	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
Revenue	+15.5%	+26.7%	—	—	$4.04B	$4.01B	$3.85B	$3.61B	$2.6B	$1.51B	$1.23B	$894.8M	$897.98M	$187.61M
Interest & Dividend Income	+19.2%	+63.1%	—	—	$1.79B	$1.76B	$1.66B	$1.52B	$1.04B	$283.24M	$153.02M	—	—	—
Rental Income	+3.1%	+32.9%	—	—	$57.75M	—	—	—	$47.82M	$22.48M	$25.46M	$43.65M	$47.97M	$11.53M
Cost of Revenue	+5.8%	+8.7%	—	—	$26.85M	$26.73M	$26.9M	$27.09M	$22.6M	$20.76M	$17.63M	$18.9M	$17.37M	$4.13M
Gross Profit	+15.6%	+26.9%	—	—	$4.01B	$3.98B	$3.82B	$3.58B	$2.58B	$1.49B	$1.21B	$875.9M	$880.61M	$183.48M
Gross Margin	—	—	—	—	—	99.33%	99.3%	99.25%	99.13%	98.62%	98.56%	97.89%	98.07%	97.8%
General & Administrative	+10.4%	+16.2%	—	—	$66.2M	$65.08M	$69.11M	$59.6M	$48.34M	$33.12M	$30.66M	$24.57M	$24.43M	$9.94M
Impairment of Real Estate	—	—	—	—	—	—	—	—	—	—	$0	$0	$12.33M	—
Total Operating Expenses	—	—	—	—	$71.88M	—	—	—	—	—	—	—	$140.02M	$43.41M
Operating Income	+30.6%	—	—	—	—	—	—	—	—	—	$321.02M	$842.5M	$757.95M	$144.2M
Operating Margin	—	—	—	—	—	—	—	—	—	—	26.19%	94.16%	84.41%	76.86%
Interest Expense	+16.0%	+22.3%	—	—	$843.73M	$843.61M	$826.1M	$818.06M	$539.95M	$392.39M	$308.61M	$248.38M	$212.66M	$63.35M
Interest Income	+14.7%	—	—	—	$15.16M	$14.36M	$16.1M	$23.97M	$9.53M	$120K	—	—	—	—
Equity in Earnings of Unconsolidated Entities	—	—	—	—	—	$0	$0	$1.28M	$59.77M	—	—	—	—	—
Pretax Income	+35.3%	+25.8%	—	—	$3.16B	$2.82B	$2.73B	$2.55B	$1.14B	$1.03B	$897.04M	$555.99M	$533.56M	$42.64M
Income Tax	-5.4%	+24.0%	—	—	$8.87M	$2.44M	$9.7M	-$6.14M	$2.88M	$2.89M	$831K	$1.71M	$1.44M	-$1.9M
Net Income	+35.4%	+25.5%	—	—	$3.09B	$2.78B	$2.68B	$2.51B	$1.12B	$1.01B	$891.67M	$545.96M	$523.62M	$44.54M
Net Margin	—	—	—	—	—	69.28%	69.59%	69.59%	42.97%	67.16%	72.76%	61.02%	58.31%	23.74%
Net Income Attributable to Noncontrolling Interests	+32.2%	+56.9%	—	—	$47.96M	$43.05M	$42.43M	$41.08M	$18.63M	$9.31M	$4.53M	$8.32M	$8.5M	$1.88M
Net Income Available to Common Stockholders	—	—	—	—	—	—	—	—	—	—	—	—	—	$42.66M
Comprehensive Income	+28.3%	+26.1%	—	—	$3.09B	$2.75B	$2.67B	$2.48B	$1.3B	$1.11B	$864.23M	$503.01M	$501.5M	—
EPS (Basic) USD/shares	+27.1%	+8.2%	—	—	—	$2.61	$2.56	$2.48	$1.27	$1.80	$1.76	$1.25	$1.43	$0.19
EPS (Diluted) USD/shares	+27.1%	+8.3%	—	$2.44 – $2.47*	—	$2.61	$2.56	$2.47	$1.27	$1.76	$1.75	$1.24	$1.43	$0.19
Shares Outstanding (Basic Avg) shares	+6.6%	+16.0%	—	—	—	1.06B	1.05B	1.01B	877.51M	564.47M	506.14M	435.07M	367.23M	227.83M
Shares Outstanding (Diluted Avg) shares	+6.5%	+15.8%	—	—	—	1.06B	1.05B	1.02B	879.68M	577.07M	510.91M	439.15M	367.32M	227.99M

Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing. TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative. (G): the company's own guidance — a (G) column is a guided period not yet reported; a G marker shows how the reported figure landed against the guided range. Non-GAAP-basis guidance (*) is shown as stated and never judged against GAAP actuals.

Capital Returned to Shareholders

Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2017–FY2025: $8.58B in dividends.

Price & Valuation

Multiples computed on the strict TTM/EV methodology — today's snapshot against the industry, and each ratio recomputed as of past filing dates.

Valuation

EV/Revenue

—

EV/EBIT

—

P/E (TTM)

9.15×

REIT - Diversified median 26.95×

P/AFFO (FY2025)

11.31×

P/AFFO uses the company-stated “AFFO attributable to common stockholders”, extracted from the reconciliation in its SEC filings — the company's own non-GAAP definition, not an XBRL-tagged figure.

Valuation over time computed as of each quarter's filing date

Revenue Breakdown

Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.

Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.

By Segment (USD)

Component	FY2021	FY2020	FY2019	FY2018
Real Property Business Segment	$1,479,021,000	$1,201,782,000	$865,858,000	$870,776,000
Golf Course Business Segment	$30,547,000	$23,792,000	$28,940,000	$27,201,000

By Product & Service (USD)

Component	FY2019	FY2018
Golf	$28,940,000	$27,201,000

Segment Operating Income

Annual operating income by business segment, as tagged in the company's own XBRL filings. Segments need not sum to the consolidated figure — corporate costs and eliminations are typically unallocated.

By Segment (USD)

Component	FY2020	FY2019	FY2018
Real Property Business Segment	$299,771,000	$29,583,000	$118,973,000
Golf Course Business Segment	$21,247,000	$22,716,000	$21,050,000

Operating Margin by Segment (%)

Component	FY2020	FY2019	FY2018
Real Property Business Segment	24.9%	3.4%	13.7%
Golf Course Business Segment	89.3%	78.5%	77.4%

Key facts CIK 1705696 CUSIP 925652109 13F (30d) 215 filings 212 filers Visit website Investor relations