VICI PROPERTIES INC (VICI) Stock Fundamental Analysis
NYSE:VICI - New York Stock Exchange, Inc. - US9256521090 - REIT - Currency: USD
VICI gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 30 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.
VICI had a positive operating cash flow in the past year.
VICI had positive earnings in each of the past 5 years.
Each year in the past 5 years VICI had a positive operating cash flow.
1.2 Ratios
Looking at the Return On Assets, with a value of 5.98%, VICI belongs to the top of the industry, outperforming 83.33% of the companies in the same industry.
The Return On Equity of VICI (10.20%) is better than 73.33% of its industry peers.
The Return On Invested Capital of VICI (6.36%) is better than 76.67% of its industry peers.
VICI had an Average Return On Invested Capital over the past 3 years of 5.29%. This is in line with the industry average of 5.18%.
The 3 year average ROIC (5.29%) for VICI is below the current ROIC(6.36%), indicating increased profibility in the last year.
| 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 better Profit Margin (70.20%) than 96.67% of its industry peers.
VICI's Profit Margin has improved in the last couple of years.
The Operating Margin of VICI (92.81%) is better 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.
The Gross Margin of VICI (99.32%) 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 | 92.81% | ||
| 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
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), VICI is destroying value.
The number of shares outstanding for VICI has been increased compared to 1 year ago.
The number of shares outstanding for VICI has been increased compared to 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 1.50, we must say that VICI is in the distress zone and has some risk of bankruptcy.
VICI has a better Altman-Z score (1.50) than 76.67% 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.
VICI's Debt to FCF ratio of 8.27 is amongst the best of the industry. VICI outperforms 83.33% of its industry peers.
A Debt/Equity ratio of 0.66 indicates that VICI is somewhat dependend on debt financing.
With an excellent Debt to Equity ratio value of 0.66, VICI belongs to the best of the industry, outperforming 83.33% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.66 | ||
| Debt/FCF | 8.27 | ||
| Altman-Z | 1.5 |
ROIC/WACC0.85
WACC7.48%
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 73.33% 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 73.33% 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.
Looking at the last year, VICI shows a small growth in Revenue. The Revenue has grown by 4.85% in the last year.
VICI shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 33.88% yearly.
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
Based on estimates for the next years, VICI will show a small growth in Earnings Per Share. The EPS will grow by 5.42% on average per year.
The Revenue is expected to grow by 3.97% on average over the next years.
EPS Next Y4.19%
EPS Next 2Y6.15%
EPS Next 3Y5.42%
EPS Next 5YN/A
Revenue Next Year3.49%
Revenue Next 2Y3.05%
Revenue Next 3Y2.65%
Revenue Next 5Y3.97%
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
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
VICI is valuated correctly with a Price/Earnings ratio of 12.61.
VICI's Price/Earnings ratio is rather cheap when compared to the industry. VICI is cheaper than 93.33% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 26.48. VICI is valued rather cheaply when compared to this.
The Price/Forward Earnings ratio is 11.41, which indicates a very decent valuation of VICI.
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 is valuated cheaply when we compare the Price/Forward Earnings ratio to 34.04, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.61 | ||
| Fwd PE | 11.41 |
4.2 Price Multiples
VICI's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. VICI is cheaper than 76.67% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, VICI is valued a bit cheaper than the industry average as 80.00% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 16.17 | ||
| EV/EBITDA | 14.34 |
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)3.01
PEG (5Y)0.83
EPS Next 2Y6.15%
EPS Next 3Y5.42%
5. Dividend
5.1 Amount
VICI has a Yearly Dividend Yield of 5.24%, which is a nice return.
Compared to an average industry Dividend Yield of 5.87, VICI has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.39, VICI pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.24% |
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.
As VICI did not decrease their dividend in the past 5 years, we can say the dividend looks stable.
Dividend Growth(5Y)8.63%
Div Incr Years6
Div Non Decr Years6
5.3 Sustainability
VICI pays out 65.35% 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.
DP65.35%
EPS Next 2Y6.15%
EPS Next 3Y5.42%
32.9
-0.11 (-0.33%)
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 Change1.54%
Ins Owners0.28%
Ins Owner Change10.48%
Market Cap34.77B
Analysts82.67
Price Target37.16 (12.95%)
Short Float %2.99%
Short Ratio5.47
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.24% |
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)0.97%
PT rev (3m)0.71%
EPS NQ rev (1m)-0.01%
EPS NQ rev (3m)2.35%
EPS NY rev (1m)0%
EPS NY rev (3m)-4.45%
Revenue NQ rev (1m)0.2%
Revenue NQ rev (3m)0.6%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.45%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.61 | ||
| Fwd PE | 11.41 | ||
| P/S | 8.85 | ||
| P/FCF | 16.17 | ||
| P/OCF | 14.16 | ||
| P/B | 1.29 | ||
| P/tB | 1.29 | ||
| EV/EBITDA | 14.34 |
EPS(TTM)2.61
EY7.93%
EPS(NY)2.88
Fwd EY8.77%
FCF(TTM)2.03
FCFY6.18%
OCF(TTM)2.32
OCFY7.06%
SpS3.72
BVpS25.57
TBVpS25.57
PEG (NY)3.01
PEG (5Y)0.83
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 | 1.5 |
F-Score6
WACC7.48%
ROIC/WACC0.85
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 Y4.19%
EPS Next 2Y6.15%
EPS Next 3Y5.42%
EPS Next 5YN/A
Revenue 1Y (TTM)4.85%
Revenue growth 3Y36.62%
Revenue growth 5Y33.88%
Sales Q2Q%4.63%
Revenue Next Year3.49%
Revenue Next 2Y3.05%
Revenue Next 3Y2.65%
Revenue Next 5Y3.97%
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%