VICI Properties Inc.
VICI · Price history
Price at last available close
$23.52
+$0.32 (+1.38%) 1M
2026-10-28
Tap or drag sideways to inspect a price. Use two fingers to compare automatically. Release to scroll. Use Shift + arrow keys to compare with a keyboard.
Company & revenue
About VICI Properties Inc.
Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
VICI Properties functions as a specialized real estate investment trust dedicated to experiential properties. The company boasts an extensive collection of premier gaming, hospitality, and entertainment venues, notably including the globally recognized Caesars Palace. Its diverse and nationally distributed portfolio encompasses 29 gaming facilities, spanning over 48 million square feet.
How they make money
VICI Properties is an experiential real estate investment trust (REIT) that generates revenue primarily through triple-net lease agreements with tenants in the gaming, hospitality, and entertainment sectors. Under these leases, tenants are responsible for property-level costs such as maintenance, insurance, and taxes, while VICI earns consistent rental income, often featuring CPI-linked escalations.
Products & services
Ownership and management of a portfolio of experiential real estate assets, including gaming facilities, hotels, and other entertainment properties, operated under long-term triple-net lease agreements.
Brands & revenue mix
No separate brand or brand-level revenue disclosure was confirmed in the reviewed sources. This does not mean the company has no brands.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
Disclosed major customers
- Caesars Entertainment, Inc.Source
Customer concentration
The company derives a substantial majority of its revenues from a concentrated group of tenants in the gaming and experiential industries, with Caesars Entertainment being a primary tenant as of the period ended December 31, 2025.
Suppliers, materials & equipment
No supplier relationships were confirmed in the sources reviewed. This does not mean the company has no suppliers.
Business relationships & partnerships
- Partner Property Growth Fund — A collaborative arrangement with certain tenants to fund same-store capital improvements, including redevelopment and new construction, in exchange for increased rent.Source
Strengths
Sources
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
66
Fair
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
57
Fair
Financial Strength
47
Business Quality / Moat
65
Management
75
Growth Quality
32
Risk / Durability
71
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
72
Fair
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
67/100
Building Historical Record
Model Score 67/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is mixed across its combined quality, valuation and risk inputs. Review the category scores to identify what is helping or hurting the result.
At today’s price, the WSS valuation framework currently reads as relatively attractive.
The model outlook is currently moderate.
- •Valuation scores attractively
- •Recent buyback activity is present
- •Revenue fundamentals are weak
- •Debt / balance-sheet profile needs attention
Company-specific research
Questions worth answering for VICI
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •Can VICI maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
- •Is VICI's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
- •Is VICI's debt load manageable relative to cash generation, interest costs and upcoming maturities?
- •Is VICI's valuation discount tied to a temporary concern or to a longer-term business risk?
Essential Investment Snapshot
Wall Street Score
66
Opportunity Score
72
Market Cap
$25.90B
P/E Ratio
9.2
EPS
$2.58
52-Week High
$30.88
52-Week Low
$22.43
Beta
0.67
Intrinsic Value
$99.33
Analyst Target
$29.00
Shares Outstanding
1.06B
Total Revenue
$4.10B
Total Debt
$17.84B
Reported Dividend Yield
7.10%
Liquidation Value / Share
$27.86
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Neutral / mixed momentum
Low movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for VICI
Detected from reported data — verify before acting.Dividend history reported
The provider reports a dividend yield. Confirm the latest declaration before treating it as a current payment.
Historical repurchase activity
Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.
Community Sentiment
0 active · 0 total callsNo personal call yet on VICI.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Triple-net lease structure providing stable, long-term cash flows.
- +CPI-linked rent escalations across a majority of the portfolio.
- +Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
- −Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the REIT - Diversified industry.
- −Concentration of tenants in the gaming and experiential industries.
- −Dependence on the financial health of major tenants.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdownWas this stock page easy to understand?
One click helps us improve the research experience. This is not tied to an investment decision.
Score Changes
4 historical score records availablePrevious Score
66
Oct 26, 2026
Change
+0.2
points
Current Score
66
Oct 28, 2026
Category Changes
VICI increased 0.2 points because overall fundamentals improved.
Projected Score
Projected Score
62
Projected Change
-4.0 points
Preliminary comparable-period financial changes suggest decline of approximately 4.0 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
Review model assumptionsThis model estimate is more than three times the share price.
This is a formula-based estimate, not a verified fair value or price target. Check the earnings and growth assumptions.
Stored EPS: $2.58 · Growth assumption: 5.3% · Earnings multiplier: 19.1×.
Current Price
$23.52
Model Intrinsic Value
$99.33
Difference
−$75.81
-76.3% vs IV
Margin of Safety
76.3%
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.10B | $4.01B | $3.85B | $3.61B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Cost of Revenue | $27.6M | $26.7M | $26.9M | $27.1M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Gross Profit | $4.07B | $3.98B | $3.82B | $3.58B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Research & Development | $0.00 | $0.00 | $0.00 | $0.00 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| SG&A Expenses | $67.1M | $65.1M | $69.1M | $59.6M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Expenses | $432.4M | $324.1M | $277.4M | $240.1M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| EBITDA | $3.66B | $3.67B | $3.56B | $3.37B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Income | $3.64B | $3.66B | $3.54B | $3.34B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Interest Expense | $839.9M | $843.6M | $826.1M | $818.1M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Before Tax | $2.81B | $2.82B | $2.73B | $2.55B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Tax Expense | $2.8M | $2.4M | $9.7M | -$6.1M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Net Income | $2.77B | $2.78B | $2.68B | $2.51B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic EPS | $2.58 | $2.61 | $2.56 | $2.48 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic Shares | 1.09B | 1.06B | 1.05B | 1.01B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Diluted Shares | 1.09B | 1.06B | 1.05B | 1.02B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
Earnings Summary
Revenue
$1.06B
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
$0.48
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
+0.0%
Cash Change
+23.6%
Margin Change
-36.7 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
- Cash position grew
What Weakened
- Margins contracted
- Debt increased
Potential Score Impact
Positive indicators included revenue growth, cash levels. Pressure indicators included EPS growth, debt levels, net income margin. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 5.7%. EPS declined 41.5%. Cash increased 23.6%. Total debt was essentially unchanged. Net income margin declined by 36.7 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
43
Smart Money
43
Number of Gurus
3
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
A dividend is reported, but detailed payment history is temporarily unavailable or awaiting refresh.
Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Start 7-Day Free TrialHistorical Outperformance Record
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.
Start 7-Day Free TrialHistorical Trends
4 historical recordsHistorical Score Chart
3 of 4 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
Related Companies
REIT - DiversifiedNews
VICI Properties to Report Q3 Earnings: What Should Investors Do?
VICI Properties vs. Realty Income: Which REIT Is a Better Buy Now?
How a 69-Year-Old Collects $4,350 a Month From Just Three Tickers: SCHD, JEPQ, and VICI
Hourglass Capital LLC Sells 49,518 Shares of VICI Properties Inc. $VICI
Rumor Mill · VICI
Corporate developments & opportunities
No reviewed developments match this filter.
Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.
Related Stock Research
Continue researching this company with related Wall Street Score rankings and investing guides.
Score Alerts
Premium unlocks alerts when a score rises, falls, or reaches your target price.
Start 7-Day Free TrialPortfolio Score
Premium unlocks portfolio scoring, strongest and weakest holdings, and overall margin of safety.
Start 7-Day Free Trial