VICI PROPERTIES INC (VICI) Stock Fundamental Analysis

USA • New York Stock Exchange • NYSE:VICI • US9256521090

28.76 USD
+0.02 (+0.07%)
At close: Feb 6, 2026
28.75 USD
-0.01 (-0.03%)
After Hours: 2/6/2026, 8:10:30 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

6

We assign a fundamental rating of 6 out of 10 to VICI. VICI was compared to 30 industry peers in the Specialized REITs industry. VICI scores excellent on profitability, but there are concerns on its financial health. VICI may be a bit undervalued, certainly considering the very reasonable score on growth VICI also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

8

1. Profitability

1.1 Basic Checks

  • VICI had positive earnings in the past year.
  • VICI had a positive operating cash flow in the past year.
  • Each year in the past 5 years VICI has been profitable.
  • In the past 5 years VICI always reported a positive cash flow from operatings.
VICI Yearly Net Income VS EBIT VS OCF VS FCFVICI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2017 2018 2019 2020 2021 2022 2023 2024 0 2B -2B

1.2 Ratios

  • VICI has a Return On Assets of 5.99%. This is in the better half of the industry: VICI outperforms 80.00% of its industry peers.
  • With a decent Return On Equity value of 10.06%, VICI is doing good in the industry, outperforming 73.33% of the companies in the same industry.
  • With a decent Return On Invested Capital value of 6.34%, VICI is doing good in the industry, outperforming 80.00% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for VICI is in line with the industry average of 4.81%.
  • The last Return On Invested Capital (6.34%) for VICI is above the 3 year average (5.29%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 5.99%
ROE 10.06%
ROIC 6.34%
ROA(3y)4.86%
ROA(5y)5.11%
ROE(3y)8.38%
ROE(5y)8.6%
ROIC(3y)5.29%
ROIC(5y)5.36%
VICI Yearly ROA, ROE, ROICVICI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8 10

1.3 Margins

  • The Profit Margin of VICI (70.18%) is better than 93.33% of its industry peers.
  • VICI's Profit Margin has improved in the last couple of years.
  • VICI has a better Operating Margin (92.60%) than 100.00% of its industry peers.
  • In the last couple of years the Operating Margin of VICI has remained more or less at the same level.
  • VICI's Gross Margin of 99.33% is amongst the best of the industry. VICI outperforms 100.00% of its industry peers.
  • In the last couple of years the Gross Margin of VICI has remained more or less at the same level.
Industry RankSector Rank
OM 92.6%
PM (TTM) 70.18%
GM 99.33%
OM growth 3Y-1.26%
OM growth 5Y-0.56%
PM growth 3Y1.19%
PM growth 5Y2.66%
GM growth 3Y0.23%
GM growth 5Y0.29%
VICI Yearly Profit, Operating, Gross MarginsVICI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60 80

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3

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), VICI is destroying value.
  • VICI has more shares outstanding than it did 1 year ago.
  • The number of shares outstanding for VICI has been increased compared to 5 years ago.
  • Compared to 1 year ago, VICI has an improved debt to assets ratio.
VICI Yearly Shares OutstandingVICI Yearly Shares OutstandingYearly Shares Outstanding 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B
VICI Yearly Total Debt VS Total AssetsVICI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B 40B

2.2 Solvency

  • Based on the Altman-Z score of 1.40, we must say that VICI is in the distress zone and has some risk of bankruptcy.
  • VICI has a Altman-Z score of 1.40. This is in the better half of the industry: VICI outperforms 76.67% of its industry peers.
  • The Debt to FCF ratio of VICI is 7.63, which is on the high side as it means it would take VICI, 7.63 years of fcf income to pay off all of its debts.
  • VICI has a Debt to FCF ratio of 7.63. This is in the better half of the industry: VICI outperforms 80.00% of its industry peers.
  • A Debt/Equity ratio of 0.64 indicates that VICI is somewhat dependend on debt financing.
  • With an excellent Debt to Equity ratio value of 0.64, VICI belongs to the best of the industry, outperforming 83.33% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.64
Debt/FCF 7.63
Altman-Z 1.4
ROIC/WACC0.86
WACC7.4%
VICI Yearly LT Debt VS Equity VS FCFVICI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2017 2018 2019 2020 2021 2022 2023 2024 0 5B 10B 15B 20B 25B

2.3 Liquidity

  • A Current Ratio of 0.69 indicates that VICI may have some problems paying its short term obligations.
  • Looking at the Current ratio, with a value of 0.69, VICI is in line with its industry, outperforming 50.00% of the companies in the same industry.
  • VICI has a Quick Ratio of 0.69. This is a bad value and indicates that VICI is not financially healthy enough and could expect problems in meeting its short term obligations.
  • VICI has a Quick ratio (0.69) which is in line with its industry peers.
Industry RankSector Rank
Current Ratio 0.69
Quick Ratio 0.69
VICI Yearly Current Assets VS Current LiabilitesVICI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. Growth

3.1 Past

  • VICI shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -2.96%.
  • Measured over the past years, VICI shows a quite strong growth in Earnings Per Share. The EPS has been growing by 15.23% on average per year.
  • The Revenue has been growing slightly by 4.31% in the past year.
  • The Revenue has been growing by 33.88% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)-2.96%
EPS 3Y13.3%
EPS 5Y15.23%
EPS Q2Q%1.43%
Revenue 1Y (TTM)4.31%
Revenue growth 3Y36.62%
Revenue growth 5Y33.88%
Sales Q2Q%4.44%

3.2 Future

  • VICI is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 5.12% yearly.
  • Based on estimates for the next years, VICI will show a small growth in Revenue. The Revenue will grow by 4.06% on average per year.
EPS Next Y9.13%
EPS Next 2Y5.41%
EPS Next 3Y5.12%
EPS Next 5YN/A
Revenue Next Year4.25%
Revenue Next 2Y3.62%
Revenue Next 3Y2.99%
Revenue Next 5Y4.06%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
VICI Yearly Revenue VS EstimatesVICI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 1B 2B 3B 4B
VICI Yearly EPS VS EstimatesVICI Yearly EPS VS EstimatesYearly EPS VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0.5 1 1.5 2 2.5

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8

4. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 10.98 indicates a reasonable valuation of VICI.
  • Compared to the rest of the industry, the Price/Earnings ratio of VICI indicates a rather cheap valuation: VICI is cheaper than 93.33% of the companies listed in the same industry.
  • VICI is valuated cheaply when we compare the Price/Earnings ratio to 27.92, which is the current average of the S&P500 Index.
  • Based on the Price/Forward Earnings ratio of 10.11, the valuation of VICI can be described as reasonable.
  • VICI's Price/Forward Earnings ratio is rather cheap when compared to the industry. VICI is cheaper than 96.67% of the companies in the same industry.
  • VICI's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.78.
Industry RankSector Rank
PE 10.98
Fwd PE 10.11
VICI Price Earnings VS Forward Price EarningsVICI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, VICI is valued cheaper than 90.00% of the companies in the same industry.
  • VICI's Price/Free Cash Flow ratio is rather cheap when compared to the industry. VICI is cheaper than 90.00% of the companies in the same industry.
Industry RankSector Rank
P/FCF 13.31
EV/EBITDA 13
VICI Per share dataVICI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20 25

4.3 Compensation for Growth

  • The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • VICI has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)1.2
PEG (5Y)0.72
EPS Next 2Y5.41%
EPS Next 3Y5.12%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

7

5. Dividend

5.1 Amount

  • VICI has a Yearly Dividend Yield of 6.24%, which is a nice return.
  • VICI's Dividend Yield is rather good when compared to the industry average which is at 5.45. VICI pays more dividend than 83.33% of the companies in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.81, VICI pays a better dividend.
Industry RankSector Rank
Dividend Yield 6.24%

5.2 History

  • The dividend of VICI is nicely growing with an annual growth rate of 8.63%!
  • VICI has been paying a dividend for over 5 years, so it has already some track record.
  • VICI has not decreased its dividend in the past 5 years, so it has a somewhat stable track record.
Dividend Growth(5Y)8.63%
Div Incr Years6
Div Non Decr Years6
VICI Yearly Dividends per shareVICI Yearly Dividends per shareYearly Dividends per share 2018 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5

5.3 Sustainability

  • 65.54% of the earnings are spent on dividend by VICI. This is not a sustainable payout ratio.
  • The dividend of VICI is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP65.54%
EPS Next 2Y5.41%
EPS Next 3Y5.12%
VICI Yearly Income VS Free CF VS DividendVICI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2017 2018 2019 2020 2021 2022 2023 2024 0 1B -1B 2B -2B -3B
VICI Dividend Payout.VICI Dividend Payout, showing the Payout Ratio.VICI Dividend Payout.PayoutRetained Earnings

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VICI PROPERTIES INC

NYSE:VICI (2/6/2026, 8:10:30 PM)

After market: 28.75 -0.01 (-0.03%)

28.76

+0.02 (+0.07%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)10-30
Earnings (Next)02-25
Inst Owners100.68%
Inst Owner Change-2.28%
Ins Owners0.27%
Ins Owner Change-0.49%
Market Cap30.74B
Revenue(TTM)3.97B
Net Income(TTM)2.79B
Analysts81.94
Price Target35.7 (24.13%)
Short Float %2.81%
Short Ratio2.28
Dividend
Industry RankSector Rank
Dividend Yield 6.24%
Yearly Dividend1.67
Dividend Growth(5Y)8.63%
DP65.54%
Div Incr Years6
Div Non Decr Years6
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)8.5%
Min EPS beat(2)-0.32%
Max EPS beat(2)17.33%
EPS beat(4)1
Avg EPS beat(4)-6.19%
Min EPS beat(4)-26.29%
Max EPS beat(4)17.33%
EPS beat(8)4
Avg EPS beat(8)-3.38%
EPS beat(12)6
Avg EPS beat(12)-2.93%
EPS beat(16)7
Avg EPS beat(16)-5.31%
Revenue beat(2)0
Avg Revenue beat(2)-1.04%
Min Revenue beat(2)-1.23%
Max Revenue beat(2)-0.86%
Revenue beat(4)0
Avg Revenue beat(4)-1.11%
Min Revenue beat(4)-1.23%
Max Revenue beat(4)-0.86%
Revenue beat(8)0
Avg Revenue beat(8)-0.98%
Revenue beat(12)3
Avg Revenue beat(12)-0.47%
Revenue beat(16)4
Avg Revenue beat(16)0.11%
PT rev (1m)-1.4%
PT rev (3m)-4.2%
EPS NQ rev (1m)-0.07%
EPS NQ rev (3m)-2.88%
EPS NY rev (1m)0%
EPS NY rev (3m)0.59%
Revenue NQ rev (1m)0.1%
Revenue NQ rev (3m)0.1%
Revenue NY rev (1m)0.02%
Revenue NY rev (3m)0.17%
Valuation
Industry RankSector Rank
PE 10.98
Fwd PE 10.11
P/S 7.74
P/FCF 13.31
P/OCF 12.48
P/B 1.11
P/tB 1.11
EV/EBITDA 13
EPS(TTM)2.62
EY9.11%
EPS(NY)2.84
Fwd EY9.89%
FCF(TTM)2.16
FCFY7.51%
OCF(TTM)2.3
OCFY8.01%
SpS3.71
BVpS25.89
TBVpS25.89
PEG (NY)1.2
PEG (5Y)0.72
Graham Number39.07
Profitability
Industry RankSector Rank
ROA 5.99%
ROE 10.06%
ROCE 8.03%
ROIC 6.34%
ROICexc 6.41%
ROICexgc 6.41%
OM 92.6%
PM (TTM) 70.18%
GM 99.33%
FCFM 58.2%
ROA(3y)4.86%
ROA(5y)5.11%
ROE(3y)8.38%
ROE(5y)8.6%
ROIC(3y)5.29%
ROIC(5y)5.36%
ROICexc(3y)5.35%
ROICexc(5y)5.47%
ROICexgc(3y)5.35%
ROICexgc(5y)3.94%
ROCE(3y)6.7%
ROCE(5y)6.78%
ROICexgc growth 3Y41.44%
ROICexgc growth 5Y27.34%
ROICexc growth 3Y-2.76%
ROICexc growth 5Y2.56%
OM growth 3Y-1.26%
OM growth 5Y-0.56%
PM growth 3Y1.19%
PM growth 5Y2.66%
GM growth 3Y0.23%
GM growth 5Y0.29%
F-Score6
Asset Turnover0.09
Health
Industry RankSector Rank
Debt/Equity 0.64
Debt/FCF 7.63
Debt/EBITDA 4.79
Cap/Depr 4149.4%
Cap/Sales 3.83%
Interest Coverage 4.56
Cash Conversion 66.93%
Profit Quality 82.94%
Current Ratio 0.69
Quick Ratio 0.69
Altman-Z 1.4
F-Score6
WACC7.4%
ROIC/WACC0.86
Cap/Depr(3y)59033.7%
Cap/Depr(5y)57630.8%
Cap/Sales(3y)71.67%
Cap/Sales(5y)110.02%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-2.96%
EPS 3Y13.3%
EPS 5Y15.23%
EPS Q2Q%1.43%
EPS Next Y9.13%
EPS Next 2Y5.41%
EPS Next 3Y5.12%
EPS Next 5YN/A
Revenue 1Y (TTM)4.31%
Revenue growth 3Y36.62%
Revenue growth 5Y33.88%
Sales Q2Q%4.44%
Revenue Next Year4.25%
Revenue Next 2Y3.62%
Revenue Next 3Y2.99%
Revenue Next 5Y4.06%
EBIT growth 1Y0.33%
EBIT growth 3Y34.89%
EBIT growth 5Y33.14%
EBIT Next Year-7%
EBIT Next 3Y0.28%
EBIT Next 5YN/A
FCF growth 1Y93.94%
FCF growth 3Y30.13%
FCF growth 5YN/A
OCF growth 1Y17.67%
OCF growth 3Y38.5%
OCF growth 5Y28.41%

VICI PROPERTIES INC / VICI FAQ

What is the ChartMill fundamental rating of VICI PROPERTIES INC (VICI) stock?

ChartMill assigns a fundamental rating of 6 / 10 to VICI.


What is the valuation status of VICI PROPERTIES INC (VICI) stock?

ChartMill assigns a valuation rating of 8 / 10 to VICI PROPERTIES INC (VICI). This can be considered as Undervalued.


How profitable is VICI PROPERTIES INC (VICI) stock?

VICI PROPERTIES INC (VICI) has a profitability rating of 8 / 10.


Can you provide the expected EPS growth for VICI stock?

The Earnings per Share (EPS) of VICI PROPERTIES INC (VICI) is expected to grow by 9.13% in the next year.


How sustainable is the dividend of VICI PROPERTIES INC (VICI) stock?

The dividend rating of VICI PROPERTIES INC (VICI) is 7 / 10 and the dividend payout ratio is 65.54%.