VICI PROPERTIES INC (VICI)
US9256521090 - REIT
Overall VICI gets a fundamental rating of 5 out of 10. We evaluated VICI against 28 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 not valued too expensively and it also shows a decent growth rate.
1. Profitability
1.1 Basic Checks
In the past year VICI was profitable.
In the past year VICI had a positive cash flow from operations.
In the past 5 years VICI has always been profitable.
In the past 5 years VICI always reported a positive cash flow from operatings.
1.2 Ratios
VICI has a Return On Assets of 5.70%. This is amongst the best in the industry. VICI outperforms 85.71% of its industry peers.
VICI has a better Return On Equity (9.95%) than 75.00% of its industry peers.
VICI has a Return On Invested Capital of 6.10%. This is in the better half of the industry: VICI outperforms 75.00% of its industry peers.
VICI had an Average Return On Invested Capital over the past 3 years of 5.40%. This is in line with the industry average of 5.05%.
The last Return On Invested Capital (6.10%) for VICI is above the 3 year average (5.40%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.7% | ||
| ROE | 9.95% | ||
| ROIC | 6.1% |
ROA(3y)4.81%
ROA(5y)4.76%
ROE(3y)7.81%
ROE(5y)7.95%
ROIC(3y)5.4%
ROIC(5y)5.13%
1.3 Margins
VICI's Profit Margin of 69.59% is amongst the best of the industry. VICI outperforms 100.00% of its industry peers.
In the last couple of years the Profit Margin of VICI has grown nicely.
Looking at the Operating Margin, with a value of 92.60%, VICI belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
In the last couple of years the Operating Margin of VICI has grown nicely.
The Gross Margin of VICI (99.25%) is better than 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 Rank | Sector Rank | ||
|---|---|---|---|
| OM | 92.6% | ||
| PM (TTM) | 69.59% | ||
| GM | 99.25% |
OM growth 3Y7.52%
OM growth 5Y1.53%
PM growth 3Y-1.47%
PM growth 5Y3.6%
GM growth 3Y0.23%
GM growth 5Y0.24%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so VICI is destroying value.
VICI has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, VICI has more shares outstanding
The debt/assets ratio for VICI is higher compared to a year ago.
2.2 Solvency
VICI has an Altman-Z score of 1.27. This is a bad value and indicates that VICI is not financially healthy and even has some risk of bankruptcy.
VICI's Altman-Z score of 1.27 is fine compared to the rest of the industry. VICI outperforms 64.29% of its industry peers.
The Debt to FCF ratio of VICI is 21.88, which is on the high side as it means it would take VICI, 21.88 years of fcf income to pay off all of its debts.
VICI has a Debt to FCF ratio of 21.88. This is comparable to the rest of the industry: VICI outperforms 50.00% of its industry peers.
A Debt/Equity ratio of 0.69 indicates that VICI is somewhat dependend on debt financing.
The Debt to Equity ratio of VICI (0.69) is better than 85.71% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.69 | ||
| Debt/FCF | 21.88 | ||
| Altman-Z | 1.27 |
ROIC/WACC0.73
WACC8.34%
2.3 Liquidity
A Current Ratio of 0.68 indicates that VICI may have some problems paying its short term obligations.
VICI has a Current ratio of 0.68. This is comparable to the rest of the industry: VICI outperforms 50.00% of its industry peers.
A Quick Ratio of 0.68 indicates that VICI may have some problems paying its short term obligations.
VICI's Quick ratio of 0.68 is in line compared to the rest of the industry. VICI outperforms 50.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.68 | ||
| Quick Ratio | 0.68 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 38.55% over the past year.
Measured over the past years, VICI shows a quite strong growth in Earnings Per Share. The EPS has been growing by 11.64% on average per year.
VICI shows a strong growth in Revenue. In the last year, the Revenue has grown by 38.89%.
Measured over the past years, VICI shows a very strong growth in Revenue. The Revenue has been growing by 32.10% on average per year.
EPS 1Y (TTM)38.55%
EPS 3Y16.71%
EPS 5Y11.64%
EPS growth Q2Q14.29%
Revenue 1Y (TTM)38.89%
Revenue growth 3Y43.37%
Revenue growth 5Y32.1%
Revenue growth Q2Q21.04%
3.2 Future
VICI is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 3.55% yearly.
VICI is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.04% yearly.
EPS Next Y8.05%
EPS Next 2Y5.27%
EPS Next 3Y3.55%
EPS Next 5YN/A
Revenue Next Year5.19%
Revenue Next 2Y4.15%
Revenue Next 3Y4.04%
Revenue Next 5YN/A
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.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 11.10, the valuation of VICI can be described as very reasonable.
Compared to the rest of the industry, the Price/Earnings ratio of VICI indicates a rather cheap valuation: VICI is cheaper than 100.00% of the companies listed in the same industry.
The average S&P500 Price/Earnings ratio is at 24.80. VICI is valued rather cheaply when compared to this.
Based on the Price/Forward Earnings ratio of 10.27, the valuation of VICI can be described as reasonable.
100.00% of the companies in the same industry are more expensive than VICI, based on the Price/Forward Earnings ratio.
VICI is valuated cheaply when we compare the Price/Forward Earnings ratio to 21.27, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.1 | ||
| Fwd PE | 10.27 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of VICI indicates a somewhat cheap valuation: VICI is cheaper than 78.57% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, VICI is valued a bit more expensive than the industry average as 64.29% of the companies are valued more cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 35.71 | ||
| EV/EBITDA | 13.67 |
4.3 Compensation for Growth
VICI's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
The excellent profitability rating of VICI may justify a higher PE ratio.
PEG (NY)1.38
PEG (5Y)0.95
EPS Next 2Y5.27%
EPS Next 3Y3.55%
5. Dividend
5.1 Amount
VICI has a Yearly Dividend Yield of 5.89%, which is a nice return.
Compared to an average industry Dividend Yield of 4.83, VICI pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.40, VICI pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.89% |
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 Years5
Div Non Decr Years5
5.3 Sustainability
VICI pays out 63.01% of its income as dividend. This is not a sustainable payout ratio.
VICI's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP63.01%
EPS Next 2Y5.27%
EPS Next 3Y3.55%
VICI PROPERTIES INC
NYSE:VICI (4/18/2024, 7:26:35 PM)
Premarket: 27.3452 -0.17 (-0.64%)27.52
+0.32 (+1.18%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap28.71B
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.89% |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
Avg EPS beat(2)
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EPS beat(8)
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EPS beat(16)
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Revenue beat(2)
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PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.1 | ||
| Fwd PE | 10.27 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)1.38
PEG (5Y)0.95
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.7% | ||
| ROE | 9.95% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 92.6% | ||
| PM (TTM) | 69.59% | ||
| GM | 99.25% | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.08
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.69 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 0.68 | ||
| Quick Ratio | 0.68 | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
Growth
EPS 1Y (TTM)38.55%
EPS 3Y16.71%
EPS 5Y
EPS growth Q2Q
EPS Next Y8.05%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)38.89%
Revenue growth 3Y43.37%
Revenue growth 5Y
Revenue growth Q2Q
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y