VICI PROPERTIES INC (VICI) Stock Fundamental Analysis
NYSE:VICI - New York Stock Exchange, Inc. - US9256521090 - REIT - Currency: USD
Taking everything into account, VICI scores 5 out of 10 in our fundamental rating. VICI was compared to 30 industry peers in the Specialized REITs industry. While VICI belongs to the best of the industry regarding profitability, there are 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.
Each year in the past 5 years VICI has been profitable.
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 5.78%, VICI is in the better half of the industry, outperforming 80.00% of the companies in the same industry.
VICI has a better Return On Equity (9.89%) than 73.33% of its industry peers.
Looking at the Return On Invested Capital, with a value of 6.17%, VICI is in the better half of the industry, outperforming 76.67% of the companies in the same industry.
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 5.27%.
The last Return On Invested Capital (6.17%) for VICI is above the 3 year average (5.29%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.78% | ||
| ROE | 9.89% | ||
| ROIC | 6.17% |
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 (67.81%) than 96.67% of its industry peers.
In the last couple of years the Profit Margin of VICI has grown nicely.
VICI has a Operating Margin of 90.14%. 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.
The Gross Margin of VICI (99.31%) 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 | 90.14% | ||
| PM (TTM) | 67.81% | ||
| GM | 99.31% |
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
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so 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
VICI has an Altman-Z score of 1.44. This is a bad value and indicates that VICI is not financially healthy and even has some risk of bankruptcy.
VICI has a Altman-Z score of 1.44. This is in the better half of the industry: VICI outperforms 70.00% of its industry peers.
VICI has a debt to FCF ratio of 8.77. This is a slightly negative value and a sign of low solvency as VICI would need 8.77 years to pay back of all of its debts.
VICI has a Debt to FCF ratio of 8.77. This is in the better half of the industry: VICI outperforms 80.00% of its industry peers.
A Debt/Equity ratio of 0.66 indicates that 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 83.33% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.66 | ||
| Debt/FCF | 8.77 | ||
| Altman-Z | 1.44 |
ROIC/WACC0.82
WACC7.57%
2.3 Liquidity
VICI has a Current Ratio of 0.44. This is a bad value and indicates that VICI is not financially healthy enough and could expect problems in meeting its short term obligations.
The Current ratio of VICI (0.44) is worse than 63.33% of its industry peers.
A Quick Ratio of 0.44 indicates that VICI may have some problems paying its short term obligations.
The Quick ratio of VICI (0.44) is worse than 63.33% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.44 | ||
| Quick Ratio | 0.44 |
3. Growth
3.1 Past
The earnings per share for VICI have decreased by -1.19% in the last year.
The Earnings Per Share has been growing by 15.23% on average over the past years. This is quite good.
The Revenue has been growing slightly by 5.32% in the past 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)-1.19%
EPS 3Y13.3%
EPS 5Y15.23%
EPS Q2Q%-10.53%
Revenue 1Y (TTM)5.32%
Revenue growth 3Y36.62%
Revenue growth 5Y33.88%
Sales Q2Q%3.44%
3.2 Future
VICI is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 5.30% yearly.
Based on estimates for the next years, VICI will show a small growth in Revenue. The Revenue will grow by 2.49% on average per year.
EPS Next Y6.7%
EPS Next 2Y5.99%
EPS Next 3Y5.3%
EPS Next 5YN/A
Revenue Next Year3.46%
Revenue Next 2Y3.04%
Revenue Next 3Y2.49%
Revenue Next 5YN/A
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
With a Price/Earnings ratio of 12.59, VICI is valued correctly.
Based on the Price/Earnings ratio, VICI is valued cheaply inside the industry as 93.33% of the companies are valued more expensively.
The average S&P500 Price/Earnings ratio is at 25.91. VICI is valued rather cheaply when compared to this.
VICI is valuated reasonably with a Price/Forward Earnings ratio of 10.94.
Compared to the rest of the industry, the Price/Forward Earnings ratio of VICI indicates a rather cheap valuation: VICI is cheaper than 96.67% of the companies listed in the same industry.
VICI's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 21.77.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.59 | ||
| Fwd PE | 10.94 |
4.2 Price Multiples
VICI's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. VICI is cheaper than 73.33% 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 | 16.48 | ||
| EV/EBITDA | 14.45 |
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)1.88
PEG (5Y)0.83
EPS Next 2Y5.99%
EPS Next 3Y5.3%
5. Dividend
5.1 Amount
VICI has a Yearly Dividend Yield of 5.52%, which is a nice return.
Compared to an average industry Dividend Yield of 5.71, VICI pays a bit more dividend than its industry peers.
VICI's Dividend Yield is rather good when compared to the S&P500 average which is at 2.40.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.52% |
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 Years5
Div Non Decr Years5
5.3 Sustainability
67.51% 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.
DP67.51%
EPS Next 2Y5.99%
EPS Next 3Y5.3%
31.47
+0.27 (+0.87%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)
Earnings (Next)
Inst Owners99.74%
Inst Owner Change2.32%
Ins Owners0.25%
Ins Owner Change9.83%
Market Cap33.25B
Analysts83.23
Price Target36.89 (17.22%)
Short Float %2.57%
Short Ratio3.38
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.52% |
Yearly Dividend1.67
Dividend Growth(5Y)8.63%
DP67.51%
Div Incr Years5
Div Non Decr Years5
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-20.87%
Min EPS beat(2)-26.29%
Max EPS beat(2)-15.46%
EPS beat(4)2
Avg EPS beat(4)-9.05%
Min EPS beat(4)-26.29%
Max EPS beat(4)2.88%
EPS beat(8)4
Avg EPS beat(8)-6.14%
EPS beat(12)6
Avg EPS beat(12)-6.59%
EPS beat(16)7
Avg EPS beat(16)-8.55%
Revenue beat(2)0
Avg Revenue beat(2)-1.17%
Min Revenue beat(2)-1.18%
Max Revenue beat(2)-1.17%
Revenue beat(4)0
Avg Revenue beat(4)-1.15%
Min Revenue beat(4)-1.49%
Max Revenue beat(4)-0.75%
Revenue beat(8)1
Avg Revenue beat(8)-0.81%
Revenue beat(12)4
Avg Revenue beat(12)0.46%
Revenue beat(16)5
Avg Revenue beat(16)0.14%
PT rev (1m)1.47%
PT rev (3m)2.45%
EPS NQ rev (1m)0.05%
EPS NQ rev (3m)1.11%
EPS NY rev (1m)-2.14%
EPS NY rev (3m)-1.79%
Revenue NQ rev (1m)0.6%
Revenue NQ rev (3m)0.8%
Revenue NY rev (1m)0.5%
Revenue NY rev (3m)0.4%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.59 | ||
| Fwd PE | 10.94 | ||
| P/S | 8.57 | ||
| P/FCF | 16.48 | ||
| P/OCF | 13.69 | ||
| P/B | 1.25 | ||
| P/tB | 1.25 | ||
| EV/EBITDA | 14.45 |
EPS(TTM)2.5
EY7.94%
EPS(NY)2.88
Fwd EY9.14%
FCF(TTM)1.91
FCFY6.07%
OCF(TTM)2.3
OCFY7.31%
SpS3.67
BVpS25.18
TBVpS25.18
PEG (NY)1.88
PEG (5Y)0.83
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.78% | ||
| ROE | 9.89% | ||
| ROCE | 7.82% | ||
| ROIC | 6.17% | ||
| ROICexc | 6.22% | ||
| ROICexgc | 6.22% | ||
| OM | 90.14% | ||
| PM (TTM) | 67.81% | ||
| GM | 99.31% | ||
| FCFM | 52% |
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-Score5
Asset Turnover0.09
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.66 | ||
| Debt/FCF | 8.77 | ||
| Debt/EBITDA | 5.04 | ||
| Cap/Depr | 10310.2% | ||
| Cap/Sales | 10.59% | ||
| Interest Coverage | 4.16 | ||
| Cash Conversion | 69.36% | ||
| Profit Quality | 76.68% | ||
| Current Ratio | 0.44 | ||
| Quick Ratio | 0.44 | ||
| Altman-Z | 1.44 |
F-Score5
WACC7.57%
ROIC/WACC0.82
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)-1.19%
EPS 3Y13.3%
EPS 5Y15.23%
EPS Q2Q%-10.53%
EPS Next Y6.7%
EPS Next 2Y5.99%
EPS Next 3Y5.3%
EPS Next 5YN/A
Revenue 1Y (TTM)5.32%
Revenue growth 3Y36.62%
Revenue growth 5Y33.88%
Sales Q2Q%3.44%
Revenue Next Year3.46%
Revenue Next 2Y3.04%
Revenue Next 3Y2.49%
Revenue Next 5YN/A
EBIT growth 1Y2.3%
EBIT growth 3Y34.89%
EBIT growth 5Y33.14%
EBIT Next Year-10.58%
EBIT Next 3Y-0.13%
EBIT Next 5YN/A
FCF growth 1Y22.06%
FCF growth 3Y30.13%
FCF growth 5YN/A
OCF growth 1Y12.11%
OCF growth 3Y38.5%
OCF growth 5Y28.41%