Financial Performance
5Y price score: (16)
The price score is a basic measure of the stock's performance against the S&P 500 Index over a five-year period.
A score of 100 indicates that the stock did as well as the S&P 500 Index.
A score below 100 means the stock underperformed the index, while a score above 100 means it outperformed the S&P 500.
10Y return: 103.1%
US$ Per
Share
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25.8
52-week range
33.9
Your model inputs
Your fair value & Margin of safety
To calculate fair value based on cost of capital and terminal growth assumptions above, please select free cash flow forecast.
Forecast:
Valuation
Free Cash Flow Yield
9.4 %
Dividend Yield TTM
6.8 %
Market cap $
$ 28,958
Price / Earnings TTM
10.2
Price / Book TTM
1
PEG TTM
(0.2)
Earnings growth and return
LTM
5YR
10YR
Total return (price & dividends)
(16.2) %
15.3 %
103.1 %
Free cash flow per share growth
10.6 %
36.9 %
40,650.1 %
Earnings per share growth
(41.5) %
49.1 %
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Founded: 2,017
Employees: 27
Business Summary:
Latest Earnings Call Takeaways
2026 Q2 (Jul 30, 2026)
1) Strategy & Leadership
- VICI Properties continues to focus on growth through relationship building, emphasizing long-term partnerships over transactional approaches.
- The company recently established a partnership with Club Med, marking its first build-to-suit investment and first property acquisition in the Caribbean.
- VICI's strategy includes understanding partners' financial, strategic, and cultural needs to foster future investments, as demonstrated by their $75 million investment in the Carambola Beach Resort in St. Croix.
2) Financial & Segment Results
- For Q2 2026, VICI reported an AFFO per share of $0.62, a 4.6% increase from $0.60 in Q2 2025.
- The total debt stands at $17.2 billion, with a net debt to annualized adjusted EBITDA ratio of approximately 4.9 times, below the target range of 5.0 to 5.5 times.
- The company has $2.5 billion in total liquidity, including $288 million in cash and $2.2 billion available under its revolving credit facility.
- Updated AFFO guidance for 2026 is projected between $2.675 billion and $2.695 billion, or $2.45 to $2.47 per diluted share, reflecting a 3.4% YoY growth at the midpoint.
3) Operational Plans & Market Trends
- VICI is optimistic about the Las Vegas market, noting that Strip gaming revenue is ahead of last year, with strong room rates and a diversified demand landscape due to new attractions and events.
- The company has added three new tenants (Clairvest, Golden Entertainment, and Club Med), enhancing its portfolio with experienced operators.
- VICI is exploring further build-to-suit structures, similar to the Club Med deal, as a growth strategy in the net lease sector.
4) Problems / Headwinds
- The company is monitoring potential M&A activity in the regional gaming sector, particularly with Churchill Downs looking to sell regional properties, which may present both opportunities and challenges.
- Conversations with tenants have remained positive despite the changing landscape, but there is an ongoing need to navigate the complexities of tenant operations and market conditions.
- The competitive landscape for convention facilities in other cities is growing, but VICI maintains confidence in Las Vegas's established superiority as a convention destination.
5) Guidance & Outlook / Investor Angle
- VICI's focus remains on long-term growth through strategic partnerships and investments, with continued emphasis on understanding tenant needs.
- The company is cautious about share repurchases, preferring to invest in higher-return opportunities like the Club Med redevelopment.
- Future acquisitions and developments are expected to align with VICI's strategy of enhancing its portfolio while maintaining strong financial health.
Bottom line: VICI Properties is strategically positioned for growth through strong partnerships and a robust financial foundation, with a positive outlook for continued AFFO growth and expansion in key markets, particularly Las Vegas and the Caribbean.
Annual Reports, Presentations And IR Contacts
Go to the websiteVici Properties — Financial Overview, Stock Price, Market Cap
Vici Properties is a company. Founded in 2017. As of August 26, 2026, the company's market capitalization is $28958339512 with a current stock price of $26.30.