VICIVICI
US • —
$26.60
P/E
9.13
PEG
0.56
FCF Yield
—
Rev Growth YoY
+4.1% YoY
Gross Margin
99.3%
Health Score
7/10
D/E Ratio
0.63
Confidence
MEDIUM
Business Snapshot
VICI Properties is a real estate investment trust (REIT) that owns and manages a portfolio of gaming, hospitality, and entertainment properties, primarily leasing its assets to leading casino operators under long-term triple-net leases. It operates in the highly specialized gaming REIT market, where it holds a position as one of the largest and most diversified owners of experiential real estate. The company benefits from a regulatory moat, as its properties are tied to licensed gaming operations, and its tenants carry significant operational scale. A defining characteristic is its capital-light model with triple-net leases, which pass most property-level operating costs to tenants, driving the company's extremely high reported gross margins.
Financial Health
VICI Properties reports an exceptionally high gross margin of 99.3% and a net margin of 76.8%, reflecting the low-cost nature of its triple-net lease REIT model; no prior-year comparisons are available to assess trend direction. The balance sheet is healthy with a manageable debt-to-equity ratio of 0.63x, though the current ratio of 0.67x points to a liability-heavy short-term liquidity profile, which is common for REITs that rely on property-level financing and operating cash flows...
Risk Assessment
- DEBT / LIQUIDITY — Current ratio of 0.67x is below the 1.0x threshold, indicating short-term liabilities exceed liquid assets, a potential strain on immediate financial flexibility.
- EARNINGS QUALITY — VICI Properties beat analyst estimates in only 2 of the last 4 quarters, reflecting mixed guidance reliability.
- TECHNICALS — RSI, MACD, and moving average data unavailable for this period; momentum cannot be independently confirmed.
- VALUATION — Price/Sales ratio of 7.36x is elevated relative to the low single-digit revenue growth, implying a high market premium for each dollar of revenue....
VICI Properties reports an exceptionally high gross margin of 99.3% and a net margin of 76.8%, reflecting the low-cost nature of its triple-net lease REIT model; no prior-year comparisons are available to assess trend direction. The balance sheet is healthy with a manageable debt-to-equity ratio of 0.63x, though the current ratio of 0.67x points to a liability-heavy short-term liquidity profile, which is common for REITs that rely on property-level financing and operating cash flows. Free cash flow data is not available in the payload, preventing a full assessment of cash generation. Overall financial health is solid, supported by strong margins and a reasonable leverage profile, which underpins dividend capacity and reinvestment ability.
- DEBT / LIQUIDITY — Current ratio of 0.67x is below the 1.0x threshold, indicating short-term liabilities exceed liquid assets, a potential strain on immediate financial flexibility. - EARNINGS QUALITY — VICI Properties beat analyst estimates in only 2 of the last 4 quarters, reflecting mixed guidance reliability. - TECHNICALS — RSI, MACD, and moving average data unavailable for this period; momentum cannot be independently confirmed. - VALUATION — Price/Sales ratio of 7.36x is elevated relative to the low single-digit revenue growth, implying a high market premium for each dollar of revenue.
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