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VICI Properties Inc. (VICI)
Real Estate · REIT - Diversified · NYSE
VICI Properties Inc. revenue & earnings — last 9 fiscal years
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $187.61M | $897.98M | $894.80M | $1.23B | $1.51B | $2.60B | $3.61B | $3.85B | $4.01B |
| Gross profit | — | $880.61M | $875.90M | $1.21B | $1.49B | $2.58B | $3.58B | $3.82B | $3.98B |
| Net income | $44.54M | $523.62M | $545.96M | $891.67M | $1.01B | $1.12B | $2.51B | $2.68B | $2.78B |
| Net margin | 23.7% | 58.3% | 61.0% | 72.8% | 67.2% | 43.0% | 69.6% | 69.6% | 69.3% |
Source: VICI Properties Inc. SEC filings (10-K).
What growth is priced into VICI stock?
At today's market cap of $30.17B, VICI Properties Inc. is priced for free-cash-flow growth of about 18.6% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $679.43M from the FY ending 2019-12-31). For comparison, revenue 26.7%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 9 years of VICI Properties Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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VICI Properties Inc. financial history by metric
About VICI Properties Inc.
VICI Properties Inc. is an S&P 500 experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality, wellness, entertainment and leisure destinations, including Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas, three of the most iconic entertainment facilities on the Las Vegas Strip. VICI Properties owns 93 experiential assets across a geographically diverse portfolio consisting of 54 gaming properties and 39 other experiential properties across the United States and Canada. The portfolio is comprised of approximately 127 million square feet and features approximately 60,300 hotel rooms and over 500 restaurants, bars, nightclubs and sportsbooks. Its properties are occupied by industry-leading gaming, leisure and hospitality operators under long-term, triple-net lease agreements. VICI Properties has a growing array of real estate and financing partnerships with leading developers and operators in other experiential sectors, including Cabot, Cain, Canyon Ranch, Chelsea Piers, Great Wolf Resorts, Homefield, Kalahari Resorts and Lucky Strike Entertainment. VICI Properties also owns four championship golf courses and approximately 33 acres of undeveloped and underdeveloped land adjacent to the Las Vegas Strip. VICI Properties' goal is to create the highest quality and most productive experiential real estate portfolio through a strategy of partnering with the highest quality experiential place makers and operators. VICI Properties Inc. was incorporated in 2016 and is based in New York, United States.
VICI Properties Inc. — frequently asked questions
What is VICI Properties Inc.'s revenue?
VICI Properties Inc. (VICI) reported revenue of $4.01B for fiscal year 2025, up 4.1% from the prior year, according to its SEC filings.
Is VICI Properties Inc. profitable?
Yes. VICI earned net income of $2.78B in fiscal 2025, a net margin of 69.3%.
What is VICI's P/E ratio?
VICI Properties Inc. trades at a price-to-earnings ratio of about 9.6 based on the latest data in our nightly-refreshed cache.
How fast is VICI Properties Inc. growing?
VICI's revenue grew at roughly 26.7% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does VICI Properties Inc. have?
As of fiscal year 2025, VICI carried roughly $16.77B in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is VICI Properties Inc.'s gross margin?
VICI's gross margin was 99.3% in fiscal 2025 — gross profit of $3.98B on revenue of $4.01B.
What is VICI Properties Inc.'s market cap?
VICI Properties Inc. (VICI) has a market capitalization of about $30.17B, based on the latest data in our nightly-refreshed cache.
When does VICI Properties Inc.'s fiscal year end?
VICI's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into VICI stock?
At today's market cap of $30.17B, VICI Properties Inc. is priced for free-cash-flow growth of about 18.6% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $679.43M from the FY ending 2019-12-31). For comparison, revenue 26.7%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from VICI Properties Inc.'s official SEC filings (10-K and 10-Q), covering 9 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.