📊 VICI Key Takeaways
Is Vici Properties Inc.. (VICI) a Good Investment?
VICI demonstrates strong REIT fundamentals with exceptional operating margins (87.4%), robust free cash flow generation ($629M, 61.8% margin), and moderate leverage (0.60x D/E) supporting distributions. However, the 127% revenue growth paired with declining net income (-1.5% YoY) signals margin compression requiring monitoring, and low ROE/ROA (3.1%/1.9%) reflect capital deployment challenges typical of highly leveraged real estate models.
VICI Properties shows exceptionally strong underlying profitability, with a 70.4% operating margin, 69.3% net margin, and $2.51B of free cash flow supported by a capital-light real estate model. Financial health appears solid, with moderate leverage at 0.60x debt-to-equity and strong interest coverage of 13.8x, although the sharp revenue increase alongside slightly lower net income suggests growth quality should be monitored for dilution, acquisition effects, or expense drag.
Why Buy Vici Properties Inc.. Stock? VICI Key Strengths
- Exceptional profitability margins (87.4% operating, 85.7% net) provide stable cash distributions
- Strong free cash flow generation of $629M with 61.8% FCF margin demonstrates operational efficiency
- Moderate leverage at 0.60x Debt/Equity with 4.3x interest coverage supports financial stability
- Significant 127% YoY revenue growth indicates substantial asset base expansion
- Minimal capital expenditure ($2.7M) typical of efficient REIT operations
- Exceptional profitability with very high operating and net margins
- Strong cash generation with $2.51B in free cash flow and minimal capital expenditure needs
- Manageable leverage profile supported by solid interest coverage and a large equity base
VICI Stock Risks: Vici Properties Inc.. Investment Risks
- Net income declined 1.5% YoY despite 127% revenue growth, indicating cost inflation or margin compression concerns
- Low return on equity (3.1%) and return on assets (1.9%) show suboptimal capital efficiency even for REITs
- Minimal cash position ($480.2M) relative to total assets ($47.1B) limits financial flexibility for unexpected obligations
- Large acquisition driving revenue growth may carry integration risks or valuation concerns
- Interest coverage of 4.3x provides limited cushion if property performance deteriorates
- Revenue growth materially outpaced net income growth, which may indicate weaker incremental earnings quality
- Large absolute long-term debt balance of $16.77B could reduce flexibility if financing conditions worsen
- Cash balance is relatively modest versus total liabilities, increasing reliance on stable cash inflows and capital market access
Key Metrics to Watch
- Trend in operating and net margins in future quarters to confirm sustainability post-acquisition
- Free cash flow per share and distribution coverage ratio to validate dividend safety
- Debt levels and refinancing activities given $16.8B long-term debt exposure to interest rate environment
- Net income and operating cash flow conversion as revenue scales
- Long-term debt levels and interest coverage
Vici Properties Inc.. (VICI) Financial Metrics & Key Ratios
💡 AI Analyst Insight
The 61.8% free cash flow margin provides substantial flexibility for dividends, buybacks, and strategic investments. The current ratio below 1.0x warrants monitoring of short-term liquidity.
VICI Profit Margin, ROE & Profitability Analysis
VICI vs Real Estate Sector: How Vici Properties Inc.. Compares
How Vici Properties Inc.. compares to Real Estate sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is Vici Properties Inc.. Stock Overvalued? VICI Valuation Analysis 2026
Based on fundamental analysis, Vici Properties Inc.. appears fundamentally strong relative to the Real Estate sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
Vici Properties Inc.. Balance Sheet: VICI Debt, Cash & Liquidity
VICI Revenue & Earnings Growth: 5-Year Financial Trend
5-Year Trend Summary: Vici Properties Inc..'s revenue has grown significantly by 165% over the 5-year period, indicating strong business expansion. The most recent EPS of $2.47 reflects profitable operations.
VICI Revenue Growth, EPS Growth & YoY Performance
VICI Quarterly Earnings & Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q1 2026 | $984.2M | $543.6M | $0.51 |
| Q3 2025 | $964.7M | $732.9M | $0.70 |
| Q2 2025 | $957.0M | $741.3M | $0.71 |
| Q1 2025 | $951.5M | $543.6M | $0.51 |
| Q3 2024 | $904.3M | $556.3M | $0.55 |
| Q2 2024 | $898.2M | $690.7M | $0.69 |
| Q1 2024 | $877.6M | $518.7M | $0.52 |
| Q3 2023 | $751.5M | $330.9M | $0.34 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
Vici Properties Inc.. Dividends, Buybacks & Capital Allocation
VICI SEC Filings: Latest 10-K & 10-Q Analysis
Access official SEC EDGAR filings for Vici Properties Inc.. (CIK: 0001705696)
📋 Recent SEC Filings
❓ Frequently Asked Questions about VICI
What is the AI rating for VICI?
Vici Properties Inc.. (VICI) has a Combined AI Rating of BUY from Claude (BUY) and ChatGPT (BUY) with 76% combined confidence, based on fundamental analysis of SEC EDGAR filings.
What are VICI's key strengths?
Claude: Exceptional profitability margins (87.4% operating, 85.7% net) provide stable cash distributions. Strong free cash flow generation of $629M with 61.8% FCF margin demonstrates operational efficiency. ChatGPT: Exceptional profitability with very high operating and net margins. Strong cash generation with $2.51B in free cash flow and minimal capital expenditure needs.
What are the risks of investing in VICI?
Claude: Net income declined 1.5% YoY despite 127% revenue growth, indicating cost inflation or margin compression concerns. Low return on equity (3.1%) and return on assets (1.9%) show suboptimal capital efficiency even for REITs. ChatGPT: Revenue growth materially outpaced net income growth, which may indicate weaker incremental earnings quality. Large absolute long-term debt balance of $16.77B could reduce flexibility if financing conditions worsen.
What is VICI's revenue and growth?
Vici Properties Inc.. reported revenue of $1.0B.
Does VICI pay dividends?
Vici Properties Inc.. pays dividends, with $481.4M distributed to shareholders in the trailing twelve months.
Where can I find VICI SEC filings?
Official SEC filings for Vici Properties Inc.. (CIK: 0001705696) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is VICI's EPS?
Vici Properties Inc.. has a diluted EPS of $0.82.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined rating reflects both perspectives for balanced insights.
Is VICI a good stock to buy right now?
Based on our AI fundamental analysis in May 2026, Vici Properties Inc.. has a BUY rating with 76% confidence. The AI analysis suggests favorable fundamentals based on SEC filings. This is not investment advice.
Is VICI stock overvalued or undervalued?
Valuation metrics for VICI: ROE of 3.1% (sector avg: 8%), net margin of 85.7% (sector avg: 20%). Compare these metrics with sector averages to assess valuation.
Should I buy VICI stock in 2026?
Our dual AI analysis gives Vici Properties Inc.. a combined BUY rating for 2026. Revenue is data pending, with profitability above sector average. Always conduct your own research.
What is VICI's free cash flow?
Vici Properties Inc..'s operating cash flow is $631.9M, with capital expenditures of $2.7M. FCF margin is 61.8%.
How does VICI compare to other Real Estate stocks?
Vs Real Estate sector averages: Net margin 85.7% (avg: 20%), ROE 3.1% (avg: 8%), current ratio N/A (avg: 1.5).