VICI PROPERTIES INC (VICI) Fundamental Analysis & Valuation
NYSE:VICI • US9256521090
28.68 USD
+0.26 (+0.91%)
At close: Mar 12, 2026
28.8 USD
+0.12 (+0.42%)
After Hours: 3/12/2026, 7:04:16 PM
This VICI fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
We assign a fundamental rating of 6 out of 10 to VICI. VICI was compared to 28 industry peers in the Specialized REITs industry. VICI has an excellent profitability rating, but there are some minor concerns on its financial health. VICI is valued quite cheap, while showing a decent growth score. This is a good combination! VICI also has an excellent dividend rating.
1. VICI Profitability Analysis
1.1 Basic Checks
- In the past year VICI was profitable.
- 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.
1.2 Ratios
- With an excellent Return On Assets value of 5.94%, VICI belongs to the best of the industry, outperforming 82.14% of the companies in the same industry.
- VICI has a Return On Equity of 9.98%. This is in the better half of the industry: VICI outperforms 71.43% of its industry peers.
- The Return On Invested Capital of VICI (6.29%) is better than 82.14% of its industry peers.
- Measured over the past 3 years, the Average Return On Invested Capital for VICI is in line with the industry average of 5.05%.
- The 3 year average ROIC (6.23%) for VICI is below the current ROIC(6.29%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.94% | ||
| ROE | 9.98% | ||
| ROIC | 6.29% |
ROA(3y)5.85%
ROA(5y)5.26%
ROE(3y)10.01%
ROE(5y)8.7%
ROIC(3y)6.23%
ROIC(5y)5.76%
1.3 Margins
- VICI has a Profit Margin of 69.28%. This is amongst the best in the industry. VICI outperforms 96.43% of its industry peers.
- VICI's Profit Margin has been stable in the last couple of years.
- Looking at the Operating Margin, with a value of 91.24%, VICI belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
- VICI's Operating Margin has improved in the last couple of years.
- Looking at the Gross Margin, with a value of 99.33%, 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 Gross Margin of VICI has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 91.24% | ||
| PM (TTM) | 69.28% | ||
| GM | 99.33% |
OM growth 3Y13.28%
OM growth 5Y4.13%
PM growth 3Y17.26%
PM growth 5Y-0.97%
GM growth 3Y0.07%
GM growth 5Y0.16%
2. VICI Health Analysis
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.
- VICI has more shares outstanding than it did 5 years ago.
- VICI has a better debt/assets ratio than last year.
2.2 Solvency
- Based on the Altman-Z score of 1.38, we must say that VICI is in the distress zone and has some risk of bankruptcy.
- VICI's Altman-Z score of 1.38 is fine compared to the rest of the industry. VICI outperforms 71.43% of its industry peers.
- VICI has a debt to FCF ratio of 7.03. This is a slightly negative value and a sign of low solvency as VICI would need 7.03 years to pay back of all of its debts.
- Looking at the Debt to FCF ratio, with a value of 7.03, VICI belongs to the top of the industry, outperforming 82.14% of the companies in the same industry.
- A Debt/Equity ratio of 0.63 indicates that VICI is somewhat dependend on debt financing.
- The Debt to Equity ratio of VICI (0.63) is better than 85.71% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.63 | ||
| Debt/FCF | 7.03 | ||
| Altman-Z | 1.38 |
ROIC/WACC0.84
WACC7.49%
2.3 Liquidity
- A Current Ratio of 0.67 indicates that VICI may have some problems paying its short term obligations.
- VICI has a Current ratio of 0.67. This is comparable to the rest of the industry: VICI outperforms 50.00% of its industry peers.
- A Quick Ratio of 0.67 indicates that VICI may have some problems paying its short term obligations.
- Looking at the Quick ratio, with a value of 0.67, VICI is in line with its industry, outperforming 50.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.67 | ||
| Quick Ratio | 0.67 |
3. VICI Growth Analysis
3.1 Past
- VICI shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 1.95%.
- Measured over the past years, VICI shows a quite strong growth in Earnings Per Share. The EPS has been growing by 10.84% on average per year.
- The Revenue has been growing slightly by 4.08% in the past year.
- The Revenue has been growing by 26.73% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)1.95%
EPS 3Y13.4%
EPS 5Y10.84%
EPS Q2Q%-1.72%
Revenue 1Y (TTM)4.08%
Revenue growth 3Y15.49%
Revenue growth 5Y26.73%
Sales Q2Q%3.79%
3.2 Future
- VICI is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 5.19% yearly.
- VICI is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 1.76% yearly.
EPS Next Y9.71%
EPS Next 2Y6.71%
EPS Next 3Y5.19%
EPS Next 5YN/A
Revenue Next Year3.17%
Revenue Next 2Y2.55%
Revenue Next 3Y1.76%
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. VICI Valuation Analysis
4.1 Price/Earnings Ratio
- VICI is valuated reasonably with a Price/Earnings ratio of 10.99.
- VICI's Price/Earnings ratio is rather cheap when compared to the industry. VICI is cheaper than 96.43% of the companies in the same industry.
- VICI's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 25.71.
- The Price/Forward Earnings ratio is 10.02, which indicates a very decent valuation of VICI.
- 96.43% of the companies in the same industry are more expensive than VICI, based on the Price/Forward Earnings ratio.
- Compared to an average S&P500 Price/Forward Earnings ratio of 23.82, VICI is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.99 | ||
| Fwd PE | 10.02 |
4.2 Price Multiples
- Based on the Enterprise Value to EBITDA ratio, VICI is valued cheaper than 92.86% of the companies in the same industry.
- Compared to the rest of the industry, the Price/Free Cash Flow ratio of VICI indicates a rather cheap valuation: VICI is cheaper than 96.43% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 12.22 | ||
| EV/EBITDA | 12.97 |
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)1.13
PEG (5Y)1.01
EPS Next 2Y6.71%
EPS Next 3Y5.19%
5. VICI Dividend Analysis
5.1 Amount
- With a Yearly Dividend Yield of 6.26%, VICI is a good candidate for dividend investing.
- Compared to an average industry Dividend Yield of 5.33, VICI pays a better dividend. On top of this VICI pays more dividend than 82.14% of the companies listed in the same industry.
- VICI's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.26% |
5.2 History
- On average, the dividend of VICI grows each year by 7.29%, which is quite nice.
- VICI has been paying a dividend for over 5 years, so it has already some track record.
- As VICI did not decrease their dividend in the past 5 years, we can say the dividend looks stable.
Dividend Growth(5Y)7.29%
Div Incr Years6
Div Non Decr Years6
5.3 Sustainability
- 66.78% 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.
DP66.78%
EPS Next 2Y6.71%
EPS Next 3Y5.19%
VICI Fundamentals: All Metrics, Ratios and Statistics
28.68
+0.26 (+0.91%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)02-25 2026-02-25/amc
Earnings (Next)04-28 2026-04-28
Inst Owners99.89%
Inst Owner Change-2.64%
Ins Owners0.29%
Ins Owner Change4.11%
Market Cap30.65B
Revenue(TTM)4.01B
Net Income(TTM)2.78B
Analysts80.65
Price Target35.7 (24.48%)
Short Float %2.29%
Short Ratio2.22
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.26% |
Yearly Dividend1.74
Dividend Growth(5Y)7.29%
DP66.78%
Div Incr Years6
Div Non Decr Years6
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-9.33%
Min EPS beat(2)-18.34%
Max EPS beat(2)-0.32%
EPS beat(4)1
Avg EPS beat(4)-6.91%
Min EPS beat(4)-26.29%
Max EPS beat(4)17.33%
EPS beat(8)3
Avg EPS beat(8)-6.68%
EPS beat(12)5
Avg EPS beat(12)-4.97%
EPS beat(16)7
Avg EPS beat(16)-6.16%
Revenue beat(2)0
Avg Revenue beat(2)-1.43%
Min Revenue beat(2)-1.64%
Max Revenue beat(2)-1.23%
Revenue beat(4)0
Avg Revenue beat(4)-1.22%
Min Revenue beat(4)-1.64%
Max Revenue beat(4)-0.86%
Revenue beat(8)0
Avg Revenue beat(8)-1.08%
Revenue beat(12)2
Avg Revenue beat(12)-0.65%
Revenue beat(16)4
Avg Revenue beat(16)0.06%
PT rev (1m)0%
PT rev (3m)-2.41%
EPS NQ rev (1m)0.81%
EPS NQ rev (3m)-3.6%
EPS NY rev (1m)0.42%
EPS NY rev (3m)-2.7%
Revenue NQ rev (1m)0.19%
Revenue NQ rev (3m)0.19%
Revenue NY rev (1m)0.17%
Revenue NY rev (3m)0.38%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.99 | ||
| Fwd PE | 10.02 | ||
| P/S | 7.65 | ||
| P/FCF | 12.22 | ||
| P/OCF | 12.21 | ||
| P/B | 1.1 | ||
| P/tB | 1.1 | ||
| EV/EBITDA | 12.97 |
EPS(TTM)2.61
EY9.1%
EPS(NY)2.86
Fwd EY9.98%
FCF(TTM)2.35
FCFY8.18%
OCF(TTM)2.35
OCFY8.19%
SpS3.75
BVpS26.01
TBVpS26.01
PEG (NY)1.13
PEG (5Y)1.01
Graham Number39.08
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.94% | ||
| ROE | 9.98% | ||
| ROCE | 7.97% | ||
| ROIC | 6.29% | ||
| ROICexc | 6.37% | ||
| ROICexgc | 6.37% | ||
| OM | 91.24% | ||
| PM (TTM) | 69.28% | ||
| GM | 99.33% | ||
| FCFM | 62.62% |
ROA(3y)5.85%
ROA(5y)5.26%
ROE(3y)10.01%
ROE(5y)8.7%
ROIC(3y)6.23%
ROIC(5y)5.76%
ROICexc(3y)6.3%
ROICexc(5y)5.87%
ROICexgc(3y)6.3%
ROICexgc(5y)4.93%
ROCE(3y)7.88%
ROCE(5y)7.29%
ROICexgc growth 3Y21.98%
ROICexgc growth 5Y35.59%
ROICexc growth 3Y21.98%
ROICexc growth 5Y7.81%
OM growth 3Y13.28%
OM growth 5Y4.13%
PM growth 3Y17.26%
PM growth 5Y-0.97%
GM growth 3Y0.07%
GM growth 5Y0.16%
F-Score7
Asset Turnover0.09
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.63 | ||
| Debt/FCF | 7.03 | ||
| Debt/EBITDA | 4.8 | ||
| Cap/Depr | 36.71% | ||
| Cap/Sales | 0.03% | ||
| Interest Coverage | 4.69 | ||
| Cash Conversion | 68.6% | ||
| Profit Quality | 90.39% | ||
| Current Ratio | 0.67 | ||
| Quick Ratio | 0.67 | ||
| Altman-Z | 1.38 |
F-Score7
WACC7.49%
ROIC/WACC0.84
Cap/Depr(3y)14083.4%
Cap/Depr(5y)35466.3%
Cap/Sales(3y)16.35%
Cap/Sales(5y)43.09%
Profit Quality(3y)65.2%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)1.95%
EPS 3Y13.4%
EPS 5Y10.84%
EPS Q2Q%-1.72%
EPS Next Y9.71%
EPS Next 2Y6.71%
EPS Next 3Y5.19%
EPS Next 5YN/A
Revenue 1Y (TTM)4.08%
Revenue growth 3Y15.49%
Revenue growth 5Y26.73%
Sales Q2Q%3.79%
Revenue Next Year3.17%
Revenue Next 2Y2.55%
Revenue Next 3Y1.76%
Revenue Next 5YN/A
EBIT growth 1Y3.11%
EBIT growth 3Y30.82%
EBIT growth 5Y31.97%
EBIT Next Year-7.25%
EBIT Next 3Y0.42%
EBIT Next 5YN/A
FCF growth 1Y27.87%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y5.4%
OCF growth 3Y8.9%
OCF growth 5Y23.22%
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 9.71% 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 66.78%.