VICI Properties Inc.VICI
NYSE • Real Estate
$28.21
P/E
9.66
PEG
0.16
FCF Yield
—
Rev Growth YoY
+3.5% YoY
Gross Margin
99.2%
Health Score
9/10
D/E Ratio
0.64
Confidence
MEDIUM
Business Snapshot
VICI Properties is a real estate investment trust (REIT) that owns experiential properties, primarily in gaming, hospitality, and entertainment sectors, and generates revenue through long-term triple-net leases. It operates as a dominant player in the gaming REIT space, with a portfolio that includes leasehold interests in iconic casino resorts. With TTM revenue of $4.05B and net income of $3.10B, the company has large-cap financial scale. The business is defined by its net-lease model, which provides stable, inflation-protected cash flows with minimal capital expenditure requirements, a structural advantage in the REIT industry.
Financial Health
Gross margin stands at 99.2%, slightly up from 99.1% a year ago, while net margin is 76.8%, reflecting the capital-light, fee-driven structure typical of triple-net REITs. The balance sheet is fortress-grade: debt-to-equity is a conservative 0.64x and the current ratio is an exceptionally high 26.68x, indicating ample short-term liquidity...
Risk Assessment
- EARNINGS QUALITY — Only 2 of the last 4 quarters beat analyst estimates, indicating mixed earnings visibility and potential guidance surprises.
- REVENUE DECELERATION — YoY revenue growth of 3.5% is modest, while QoQ growth of 0.5% suggests a decelerating trend, with both figures relatively low.
- 52-WEEK POSITION — The current price of $28.21 is below the 52-week midpoint of $30.28 and 17% below the high of $34.01, suggesting recent weakness.
- TECHNICALS — RSI, MACD, and moving average data unavailable for this period; momentum cannot be independently confirmed.
- VALUATION DIVERGENCE — Only one DCF estimate is available (FMP fair value of $144.57), as the Python DCF could not be calculated; this limits cross-validation of the intrinsic value....
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