VICI PROPERTIES INC (VICI) Stock Fundamental Analysis
NYSE:VICI - US9256521090 - REIT
33.34 USD
-0.44 (-1.3%)
33.3998 USD
+0.06 (+0.18%)
Overall VICI gets a fundamental rating of 6 out of 10. We evaluated VICI against 29 industry peers in the Specialized REITs industry. While VICI has a great profitability rating, there are quite some concerns on its financial health. VICI is valued quite cheap, while showing a decent growth score. This is a good combination!
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.
VICI had positive earnings in each of the past 5 years.
In the past 5 years VICI always reported a positive cash flow from operatings.
1.2 Ratios
VICI has a Return On Assets of 5.98%. This is amongst the best in the industry. VICI outperforms 82.76% of its industry peers.
With a decent Return On Equity value of 10.20%, VICI is doing good in the industry, outperforming 72.41% of the companies in the same industry.
VICI's Return On Invested Capital of 6.36% is fine compared to the rest of the industry. VICI outperforms 79.31% of its industry peers.
The Average Return On Invested Capital over the past 3 years for VICI is in line with the industry average of 4.79%.
The last Return On Invested Capital (6.36%) for VICI is above the 3 year average (5.29%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.98% | ||
| ROE | 10.2% | ||
| ROIC | 6.36% |
ROA(3y)4.86%
ROA(5y)5.11%
ROE(3y)8.38%
ROE(5y)8.6%
ROIC(3y)5.29%
ROIC(5y)5.36%
1.3 Margins
VICI has a Profit Margin of 70.20%. This is amongst the best in the industry. VICI outperforms 96.55% of its industry peers.
VICI's Profit Margin has improved in the last couple of years.
VICI has a Operating Margin of 92.81%. This is amongst the best in the industry. VICI outperforms 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.
Looking at the Gross Margin, with a value of 99.32%, VICI belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
VICI's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 92.81% | ||
| PM (TTM) | 70.2% | ||
| GM | 99.32% |
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%
2. Health
2.1 Basic Checks
VICI has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
The number of shares outstanding for VICI has been increased compared to 1 year ago.
VICI has more shares outstanding than it did 5 years ago.
The debt/assets ratio for VICI has been reduced compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of 1.54, we must say that VICI is in the distress zone and has some risk of bankruptcy.
VICI's Altman-Z score of 1.54 is fine compared to the rest of the industry. VICI outperforms 75.86% of its industry peers.
VICI has a debt to FCF ratio of 8.27. This is a slightly negative value and a sign of low solvency as VICI would need 8.27 years to pay back of all of its debts.
The Debt to FCF ratio of VICI (8.27) is better than 82.76% of its industry peers.
VICI has a Debt/Equity ratio of 0.66. This is a neutral value indicating VICI is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.66, VICI belongs to the top of the industry, outperforming 82.76% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.66 | ||
| Debt/FCF | 8.27 | ||
| Altman-Z | 1.54 |
ROIC/WACC0.84
WACC7.57%
2.3 Liquidity
VICI has a Current Ratio of 0.30. 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 Current ratio of 0.30. This is in the lower half of the industry: VICI underperforms 79.31% of its industry peers.
VICI has a Quick Ratio of 0.30. 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 of 0.30. This is in the lower half of the industry: VICI underperforms 79.31% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.3 | ||
| Quick Ratio | 0.3 |
3. Growth
3.1 Past
The Earnings Per Share has been growing slightly by 2.35% over the past year.
VICI shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 15.23% yearly.
VICI shows a small growth in Revenue. In the last year, the Revenue has grown by 4.85%.
The Revenue has been growing by 33.88% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)2.35%
EPS 3Y13.3%
EPS 5Y15.23%
EPS Q2Q%15.49%
Revenue 1Y (TTM)4.85%
Revenue growth 3Y36.62%
Revenue growth 5Y33.88%
Sales Q2Q%4.63%
3.2 Future
The Earnings Per Share is expected to grow by 5.14% on average over the next years.
VICI is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.04% yearly.
EPS Next Y6.71%
EPS Next 2Y7.18%
EPS Next 3Y5.14%
EPS Next 5YN/A
Revenue Next Year3.69%
Revenue Next 2Y3.2%
Revenue Next 3Y2.78%
Revenue Next 5Y4.04%
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.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 12.77 indicates a correct valuation of VICI.
Based on the Price/Earnings ratio, VICI is valued cheaper than 93.10% of the companies in the same industry.
When comparing the Price/Earnings ratio of VICI to the average of the S&P500 Index (26.90), we can say VICI is valued rather cheaply.
Based on the Price/Forward Earnings ratio of 11.34, the valuation of VICI can be described as reasonable.
Based on the Price/Forward Earnings ratio, VICI is valued cheaply inside the industry as 96.55% of the companies are valued more expensively.
VICI is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 22.52, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.77 | ||
| Fwd PE | 11.34 |
4.2 Price Multiples
82.76% of the companies in the same industry are more expensive than VICI, based on the Enterprise Value to EBITDA ratio.
Based on the Price/Free Cash Flow ratio, VICI is valued cheaply inside the industry as 86.21% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 16.54 | ||
| EV/EBITDA | 14.69 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates VICI does not grow enough to justify the current Price/Earnings ratio.
VICI has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)1.9
PEG (5Y)0.84
EPS Next 2Y7.18%
EPS Next 3Y5.14%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 5.16%, VICI is a good candidate for dividend investing.
VICI's Dividend Yield is comparable with the industry average which is at 5.84.
VICI's Dividend Yield is rather good when compared to the S&P500 average which is at 2.32.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.16% |
5.2 History
On average, the dividend of VICI grows each year by 8.63%, which is quite nice.
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
5.3 Sustainability
65.35% 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.
DP65.35%
EPS Next 2Y7.18%
EPS Next 3Y5.14%
33.34
-0.44 (-1.3%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)
Earnings (Next)
Inst Owners102.46%
Inst Owner Change1.97%
Ins Owners0.28%
Ins Owner Change1.36%
Market Cap35.55B
Analysts82.67
Price Target37.3 (11.88%)
Short Float %2.43%
Short Ratio3.78
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.16% |
Yearly Dividend1.67
Dividend Growth(5Y)8.63%
DP65.35%
Div Incr Years6
Div Non Decr Years6
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-4.48%
Min EPS beat(2)-26.29%
Max EPS beat(2)17.33%
EPS beat(4)2
Avg EPS beat(4)-5.44%
Min EPS beat(4)-26.29%
Max EPS beat(4)17.33%
EPS beat(8)4
Avg EPS beat(8)-5.09%
EPS beat(12)6
Avg EPS beat(12)-6.37%
EPS beat(16)7
Avg EPS beat(16)-7.89%
Revenue beat(2)0
Avg Revenue beat(2)-1.01%
Min Revenue beat(2)-1.17%
Max Revenue beat(2)-0.86%
Revenue beat(4)0
Avg Revenue beat(4)-0.99%
Min Revenue beat(4)-1.18%
Max Revenue beat(4)-0.75%
Revenue beat(8)0
Avg Revenue beat(8)-1%
Revenue beat(12)3
Avg Revenue beat(12)-0.42%
Revenue beat(16)4
Avg Revenue beat(16)0.08%
PT rev (1m)0.73%
PT rev (3m)1.11%
EPS NQ rev (1m)1.67%
EPS NQ rev (3m)4.06%
EPS NY rev (1m)2.42%
EPS NY rev (3m)0.01%
Revenue NQ rev (1m)0.4%
Revenue NQ rev (3m)0.79%
Revenue NY rev (1m)0.2%
Revenue NY rev (3m)0.22%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.77 | ||
| Fwd PE | 11.34 | ||
| P/S | 9.06 | ||
| P/FCF | 16.54 | ||
| P/OCF | 14.48 | ||
| P/B | 1.32 | ||
| P/tB | 1.32 | ||
| EV/EBITDA | 14.69 |
EPS(TTM)2.61
EY7.83%
EPS(NY)2.94
Fwd EY8.82%
FCF(TTM)2.02
FCFY6.05%
OCF(TTM)2.3
OCFY6.9%
SpS3.68
BVpS25.34
TBVpS25.34
PEG (NY)1.9
PEG (5Y)0.84
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.98% | ||
| ROE | 10.2% | ||
| ROCE | 8.05% | ||
| ROIC | 6.36% | ||
| ROICexc | 6.39% | ||
| ROICexgc | 6.39% | ||
| OM | 92.81% | ||
| PM (TTM) | 70.2% | ||
| GM | 99.32% | ||
| FCFM | 54.75% |
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%
ROICexcg growth 3Y41.44%
ROICexcg 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 Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.66 | ||
| Debt/FCF | 8.27 | ||
| Debt/EBITDA | 4.87 | ||
| Cap/Depr | 8166.39% | ||
| Cap/Sales | 7.77% | ||
| Interest Coverage | 4.66 | ||
| Cash Conversion | 67.3% | ||
| Profit Quality | 78% | ||
| Current Ratio | 0.3 | ||
| Quick Ratio | 0.3 | ||
| Altman-Z | 1.54 |
F-Score6
WACC7.57%
ROIC/WACC0.84
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)2.35%
EPS 3Y13.3%
EPS 5Y15.23%
EPS Q2Q%15.49%
EPS Next Y6.71%
EPS Next 2Y7.18%
EPS Next 3Y5.14%
EPS Next 5YN/A
Revenue 1Y (TTM)4.85%
Revenue growth 3Y36.62%
Revenue growth 5Y33.88%
Sales Q2Q%4.63%
Revenue Next Year3.69%
Revenue Next 2Y3.2%
Revenue Next 3Y2.78%
Revenue Next 5Y4.04%
EBIT growth 1Y4.75%
EBIT growth 3Y34.89%
EBIT growth 5Y33.14%
EBIT Next Year-10.18%
EBIT Next 3Y-0.6%
EBIT Next 5YN/A
FCF growth 1Y41.23%
FCF growth 3Y30.13%
FCF growth 5YN/A
OCF growth 1Y20.06%
OCF growth 3Y38.5%
OCF growth 5Y28.41%