VICI Properties Inc. financials

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VICI CIK 0001705696

Source: EDGAR filings · raw companyfacts JSON · Built 2026-04-25T10:20:24Z

Key metrics by reporting period

Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.

Derived Metrics

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
EBITDA — — — — — 324.75M
Net Debt 17.09B 17.09B 17.08B 14.33B 4.25B 6.75B
Gross Margin 99.33% 99.30% 99.25% 99.13% 98.62% 98.56%
Operating Margin — — — — — 26.19%
Net Margin 69.28% 69.59% 69.59% 42.97% 67.16% 72.76%
Return on Equity (ROE) 9.98% 10.09% 9.95% 5.10% 8.37% 9.47%
Return on Assets (ROA) 5.94% 5.90% 5.70% 2.97% 5.76% 5.23%
Debt-to-Equity 0.6352 0.6639 0.6971 0.6629 0.4123 0.7506
Effective Tax Rate 0.09% 0.36% -0.24% 0.25% 0.28% 0.09%
Cash Conversion Ratio 0.9043 0.889 0.8677 1.7388 0.8841 0.991
Accruals Ratio 0.0057 0.0066 0.0075 -0.022 0.0067 0.0005
SBC % of Revenue 0.40% 0.45% 0.43% 0.50% 0.62% 0.60%

Valuation Metrics

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
P/E Trailing (Diluted) 10.7739 11.4102 12.9069 25.5118 17.108 14.5714
EV / EBITDA — — — — — 62.9301
P/S 7.5023 8.0163 9.2031 11.9984 12.5449 11.1663
P/B 1.0812 1.1627 1.3162 1.4227 1.564 1.4534

Income Statement

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Revenues 4.01B 3.85B 3.61B 2.60B 1.51B 1.23B
Cost of Goods and Services Sold 26.73M 26.89M 27.09M 22.60M 20.76M 17.63M
Operating Income (Loss) — — — — — 321.02M
Income Tax Expense (Benefit) 2.44M 9.70M -6.14M 2.88M 2.89M 831.00K
Net Income (Loss) Attributable to Parent 2.78B 2.68B 2.51B 1.12B 1.01B 891.67M
Earnings Per Share, Basic $2.61 $2.56 $2.48 $1.27 $1.80 $1.76
Weighted Average Number of Shares Outstanding, Basic 1.06B 1.05B 1.01B 877.51M 564.47M 506.14M
Earnings Per Share, Diluted $2.61 $2.56 $2.47 $1.27 $1.76 $1.75
Weighted Average Number of Shares Outstanding, Diluted 1.06B 1.05B 1.02B 879.68M 577.07M 510.91M

Balance Sheet

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Cash and Cash Equivalents, at Carrying Value 563.48M 524.62M 522.57M 208.93M 739.61M 315.99M
Assets 46.72B 45.37B 44.06B 37.58B 17.60B 17.06B
Long-term Debt 16.77B 16.73B 16.72B 13.74B 4.69B 6.77B
Liabilities 18.50B 18.42B 18.40B 15.29B 5.41B 7.57B
Stockholders' Equity Attributable to Parent 27.80B 26.54B 25.26B 21.93B 12.11B 9.42B
Common Stock, Shares, Outstanding 1.07B 1.06B 1.04B 963.10M 628.94M 536.67M

Cash Flow Statement

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Net Cash Provided by (Used in) Operating Activities 2.51B 2.38B 2.18B 1.94B 896.35M 883.64M
Net Cash Provided by (Used in) Investing Activities -904.77M -922.78M -2.90B -9.30B 41.45M -4.55B
Payments of Dividends 1.85B 1.75B 1.58B 1.22B 758.79M 612.21M
Net Cash Provided by (Used in) Financing Activities -1.57B -1.46B 1.03B 6.83B -514.18M 2.88B

Raw XBRL tagging for a single filing

Every us-gaap and custom concept the filer tagged for one fiscal period, grouped by statement. Start here when a number in the trend table above surprises you and you want to see the exact tag behind it. Derived and valuation rows are omitted here because they already appear in the trend table.

Most recent filing shown by default.

Compare filings side-by-side

Diff any two filings with deltas and added / removed tags.

Immaterial rows are USD line items under 1% of the period's revenue — the noise floor below which a single tag rarely moves the investment thesis. Revenue is read from the filer's top-line concept (Revenues / RevenueFromContractWithCustomerExcludingAssessedTax, with a fallback chain). Non-USD rows, rows without a numeric value, and every row on a filing with no identifiable revenue anchor stay visible. Flip the switch off to see every tag the filer reported for the period.

Income Statement

24 concepts 3 units
Unit US$ · 19 concepts
Label Value Period
Other Income 77.48M 2025-01-01 → 2025-12-31
Interest and Dividend Income, Operating 1.76B 2025-01-01 → 2025-12-31
Sales-type Lease, Interest Income 2.13B 2025-01-01 → 2025-12-31
Other Expenses 77.48M 2025-01-01 → 2025-12-31
Revenues 4.01B 2025-01-01 → 2025-12-31
Other Nonoperating Gains (Losses) 2.66M 2025-01-01 → 2025-12-31
Cost of Goods and Services Sold 26.73M 2025-01-01 → 2025-12-31
Operating Costs and Expenses 358.54M 2025-01-01 → 2025-12-31
Operating Lease, Expense 2.52M 2025-01-01 → 2025-12-31
General and Administrative Expense 65.08M 2025-01-01 → 2025-12-31
Investment Income, Interest 14.36M 2025-01-01 → 2025-12-31
InterestExpenseNonoperating 843.61M 2025-01-01 → 2025-12-31
Income (Loss) from Equity Method Investments 0 2025-01-01 → 2025-12-31
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 2.82B 2025-01-01 → 2025-12-31
Income Tax Expense (Benefit) 2.44M 2025-01-01 → 2025-12-31
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 2.82B 2025-01-01 → 2025-12-31
Net Income (Loss) Attributable to Noncontrolling Interest 43.05M 2025-01-01 → 2025-12-31
Net Income (Loss) Attributable to Parent 2.78B 2025-01-01 → 2025-12-31
Income (Loss), Including Portion Attributable to Noncontrolling Interest, before Tax 2.78B 2025-01-01 → 2025-12-31
Unit shares · 2 concepts
Label Value Period
Weighted Average Number of Shares Outstanding, Basic 1.06B 2025-01-01 → 2025-12-31
Weighted Average Number of Shares Outstanding, Diluted 1.06B 2025-01-01 → 2025-12-31
Unit US$ / share · 3 concepts
Label Value Period
Earnings Per Share, Basic $2.61 2025-01-01 → 2025-12-31
Earnings Per Share, Diluted $2.61 2025-01-01 → 2025-12-31
Common Stock, Dividends, Per Share, Declared $1.76 2025-01-01 → 2025-12-31

Comprehensive Income

7 concepts 1 unit
Unit US$ · 7 concepts
Label Value Period
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax 7.65M 2025-01-01 → 2025-12-31
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax -5.95M 2025-01-01 → 2025-12-31
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax 25.51M 2025-01-01 → 2025-12-31
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax -5.95M 2025-01-01 → 2025-12-31
Comprehensive Income (Loss), Net of Tax, Attributable to Parent 2.75B 2025-01-01 → 2025-12-31
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest 42.78M 2025-01-01 → 2025-12-31
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest 2.79B 2025-01-01 → 2025-12-31

Balance Sheet

43 concepts 3 units
Unit US$ · 36 concepts
Label Value Period
Cash and Cash Equivalents, at Carrying Value 563.48M as of 2025-12-31
Restricted Cash 0 as of 2025-12-31
Land Available for Development 148.00M as of 2025-12-31
Interest Receivable 14.51M as of 2025-12-31
Short-term Investments 44.48M as of 2025-12-31
Real Estate Investments, Net 45.08B as of 2025-12-31
Derivative Asset 0 as of 2025-12-31
Financing Receivable, Allowance for Credit Loss 769.88M as of 2025-12-31
NetInvestmentInLeaseExcludingAccruedInterestBeforeAllowanceForCreditLoss 24.63B as of 2025-12-31
NetInvestmentInLeaseAllowanceForCreditLossExcludingAccruedInterest 919.19M as of 2025-12-31
NetInvestmentInLeaseExcludingAccruedInterestAfterAllowanceForCreditLoss 23.71B as of 2025-12-31
Property, Plant and Equipment, Gross 96.18M as of 2025-12-31
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment 28.13M as of 2025-12-31
Property, Plant and Equipment, Net 68.05M as of 2025-12-31
Prepaid Expense 4.77M as of 2025-12-31
Other Assets 1.04B as of 2025-12-31
Deferred Long-term Liability Charges 73.60M as of 2025-12-31
Dividends Payable 486.26M as of 2025-12-31
Accrued Liabilities 238.72M as of 2025-12-31
Deferred Income Tax Assets, Net 9.54M as of 2025-12-31
Operating Lease, Liability 21.50M as of 2025-12-31
Assets 46.72B as of 2025-12-31
Long-term Debt 16.77B as of 2025-12-31
Finance Lease, Liability 862.85M as of 2025-12-31
Other Liabilities 1.00B as of 2025-12-31
Deferred Income Tax Liabilities, Net 6.62M as of 2025-12-31
Liabilities 18.50B as of 2025-12-31
Preferred Stock, Value, Issued 0 as of 2025-12-31
Common Stock, Value, Issued 10.69M as of 2025-12-31
Additional Paid in Capital 24.90B as of 2025-12-31
Accumulated Other Comprehensive Income (Loss), Net of Tax 121.03M as of 2025-12-31
Retained Earnings (Accumulated Deficit) 2.77B as of 2025-12-31
Stockholders' Equity Attributable to Parent 27.80B as of 2025-12-31
Stockholders' Equity Attributable to Noncontrolling Interest 424.95M as of 2025-12-31
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest 28.22B as of 2025-12-31
Liabilities and Equity 46.72B as of 2025-12-31
Unit shares · 5 concepts
Label Value Period
Preferred Stock, Shares Authorized 50.00M as of 2025-12-31
Preferred Stock, Shares Outstanding 0 as of 2025-12-31
Common Stock, Shares Authorized 1.35B as of 2025-12-31
Common Stock, Shares, Issued 1.07B as of 2025-12-31
Common Stock, Shares, Outstanding 1.07B as of 2025-12-31
Unit US$ / share · 2 concepts
Label Value Period
Preferred Stock, Par or Stated Value Per Share $0.01 as of 2025-12-31
Common Stock, Par or Stated Value Per Share $0.01 as of 2025-12-31

Cash Flow Statement

38 concepts 1 unit
Unit US$ · 38 concepts
Label Value Period
Depreciation 3.64M 2025-01-01 → 2025-12-31
Amortization of Debt Issuance Costs and Discounts 46.83M 2025-01-01 → 2025-12-31
Payments for Rent 1.11M 2025-01-01 → 2025-12-31
Share-based Payment Arrangement, Noncash Expense 16.20M 2025-01-01 → 2025-12-31
Payments to Acquire Short-term Investments 44.48M 2025-01-01 → 2025-12-31
Proceeds from Maturities, Prepayments and Calls of Short-term Investments 0 2025-01-01 → 2025-12-31
Interest Paid, Excluding Capitalized Interest, Operating Activities 778.79M 2025-01-01 → 2025-12-31
Proceeds from Equity Method Investment, Distribution 0 2025-01-01 → 2025-12-31
Deferred Income Tax Expense (Benefit) -1.74M 2025-01-01 → 2025-12-31
Deferred Income Taxes and Tax Credits -1.74M 2025-01-01 → 2025-12-31
IncomeTaxPaidFederalAfterRefundReceived 3.20M 2025-01-01 → 2025-12-31
IncomeTaxPaidStateAndLocalAfterRefundReceived 1.30M 2025-01-01 → 2025-12-31
IncomeTaxPaidForeignAfterRefundReceived 2.90M 2025-01-01 → 2025-12-31
Income Taxes Paid, Net 7.34M 2025-01-01 → 2025-12-31
Increase (Decrease) in Other Current Assets 441.00K 2025-01-01 → 2025-12-31
Payments to Acquire Real Estate 0 2025-01-01 → 2025-12-31
Increase (Decrease) in Accrued Liabilities 12.99M 2025-01-01 → 2025-12-31
Increase (Decrease) in Other Deferred Liability -1.55M 2025-01-01 → 2025-12-31
Net Cash Provided by (Used in) Operating Activities 2.51B 2025-01-01 → 2025-12-31
Payments to Acquire Other Property, Plant, and Equipment 1.33M 2025-01-01 → 2025-12-31
Proceeds from Sale and Collection of Mortgage Notes Receivable 27.49M 2025-01-01 → 2025-12-31
Proceeds from Sale of Real Estate Held-for-investment 5.50M 2025-01-01 → 2025-12-31
Payments to Acquire Loans Receivable 887.25M 2025-01-01 → 2025-12-31
Payments to Acquire Finance Receivables 0 2025-01-01 → 2025-12-31
Payments to Acquire Businesses, Net of Cash Acquired 0 2025-01-01 → 2025-12-31
Net Cash Provided by (Used in) Investing Activities -904.77M 2025-01-01 → 2025-12-31
Proceeds from Lines of Credit 426.02M 2025-01-01 → 2025-12-31
Repayments of Lines of Credit 439.94M 2025-01-01 → 2025-12-31
Proceeds from Issuance of Unsecured Debt 1.28B 2025-01-01 → 2025-12-31
Repayments of Unsecured Debt 1.30B 2025-01-01 → 2025-12-31
Payments of Debt Issuance Costs 19.48M 2025-01-01 → 2025-12-31
Proceeds from Issuance of Common Stock 375.35M 2025-01-01 → 2025-12-31
Payments of Dividends 1.85B 2025-01-01 → 2025-12-31
Payment, Tax Withholding, Share-based Payment Arrangement 7.23M 2025-01-01 → 2025-12-31
Net Cash Provided by (Used in) Financing Activities -1.57B 2025-01-01 → 2025-12-31
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 160.00K 2025-01-01 → 2025-12-31
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect 38.86M 2025-01-01 → 2025-12-31
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 563.48M as of 2025-12-31

Notes

68 concepts 4 units
Unit US$ · 58 concepts
Label Value Period
Current Federal Tax Expense (Benefit) 2.04M 2025-01-01 → 2025-12-31
Current State and Local Tax Expense (Benefit) 378.00K 2025-01-01 → 2025-12-31
Current Foreign Tax Expense (Benefit) 1.76M 2025-01-01 → 2025-12-31
Current Income Tax Expense (Benefit) 4.18M 2025-01-01 → 2025-12-31
Deferred Federal Income Tax Expense (Benefit) -267.00K 2025-01-01 → 2025-12-31
Deferred State and Local Income Tax Expense (Benefit) 15.00K 2025-01-01 → 2025-12-31
Deferred Foreign Income Tax Expense (Benefit) -1.49M 2025-01-01 → 2025-12-31
Federal Income Tax Expense (Benefit), Continuing Operations 1.77M 2025-01-01 → 2025-12-31
State and Local Income Tax Expense (Benefit), Continuing Operations 393.00K 2025-01-01 → 2025-12-31
Foreign Income Tax Expense (Benefit), Continuing Operations 268.00K 2025-01-01 → 2025-12-31
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount 583.36M 2025-01-01 → 2025-12-31
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount 368.00K 2025-01-01 → 2025-12-31
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount 269.00K 2025-01-01 → 2025-12-31
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount 19.40M as of 2025-12-31
Other Accrued Liabilities 250.00K as of 2025-12-31
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Amount 205.00K 2025-01-01 → 2025-12-31
Dividends, Common Stock, Cash 1.91B 2025-01-01 → 2025-12-31
Net Income (Loss) Available to Common Stockholders, Diluted 2.78B 2025-01-01 → 2025-12-31
Stock Issued During Period, Value, New Issues 375.35M 2025-01-01 → 2025-12-31
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration 151.60M as of 2025-12-31
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Provision for Loan Losses 16.63M as of 2025-12-31
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability 0 2025-01-01 → 2025-12-31
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals 1.50M as of 2025-12-31
Lessee, Operating Lease, Liability, to be Paid, Year One 2.77M as of 2025-12-31
Lessee, Operating Lease, Liability, to be Paid, Year Two 1.92M as of 2025-12-31
Lessee, Operating Lease, Liability, to be Paid, Year Three 2.81M as of 2025-12-31
Lessee, Operating Lease, Liability, to be Paid, Year Four 1.92M as of 2025-12-31
Lessee, Operating Lease, Liability, to be Paid, Year Five 2.92M as of 2025-12-31
Lessee, Operating Lease, Liability, to be Paid, after Year Five 17.91M as of 2025-12-31
Lessee, Operating Lease, Liability, to be Paid 30.25M as of 2025-12-31
Deferred Tax Assets, Gross 20.27M as of 2025-12-31
Lessee, Operating Lease, Liability, Undiscounted Excess Amount 8.75M as of 2025-12-31
Deferred Tax Liabilities, Gross 17.35M as of 2025-12-31
Deferred Tax Assets, Net 2.92M as of 2025-12-31
Long-term Debt, Gross 17.09B as of 2025-12-31
Debt Instrument, Face Amount 17.09B as of 2025-12-31
Deferred Tax Liabilities, Property, Plant and Equipment 5.06M as of 2025-12-31
Deferred Tax Liabilities, Unrealized Currency Transaction Gains 613.00K as of 2025-12-31
Deferred Tax Liabilities, Investments 9.55M as of 2025-12-31
Deferred Tax Liabilities, Leasing Arrangements 2.13M as of 2025-12-31
Long-Term Debt, Maturity, Year One 1.75B as of 2025-12-31
Long-Term Debt, Maturity, Year Two 1.50B as of 2025-12-31
Long-Term Debt, Maturity, Year Three 2.00B as of 2025-12-31
Long-Term Debt, Maturity, Year Four 1.89B as of 2025-12-31
Long-Term Debt, Maturity, Year Five 2.00B as of 2025-12-31
Long-Term Debt, Maturity, after Year Five 7.95B as of 2025-12-31
Off-Balance Sheet, Credit Loss, Liability 6.40M as of 2025-12-31
Debt Issuance Costs, Net 17.14M as of 2025-12-31
Sales-Type and Direct Financing Leases, Lease Receivable, to be Received, Year One 1.79B as of 2025-12-31
Sales-Type and Direct Financing Leases, Lease Receivable, to be Received, Year Two 1.82B as of 2025-12-31
Sales-Type and Direct Financing Leases, Lease Receivable, to be Received, Year Three 1.85B as of 2025-12-31
Sales-Type and Direct Financing Leases, Lease Receivable, to be Received, Year Four 1.88B as of 2025-12-31
Sales-Type and Direct Financing Leases, Lease Receivable, to be Received, Year Five 1.91B as of 2025-12-31
Sales-Type and Direct Financing Leases, Lease Receivable, to be Received, after Year Five 78.02B as of 2025-12-31
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received 87.28B as of 2025-12-31
Income (Loss) from Continuing Operations before Income Taxes, Domestic 2.77B 2025-01-01 → 2025-12-31
Income (Loss) from Continuing Operations before Income Taxes, Foreign 10.80M 2025-01-01 → 2025-12-31
Other Receivables 13.27M as of 2025-12-31
Unit shares · 2 concepts
Label Value Period
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements 501,000 2025-01-01 → 2025-12-31
Incremental Common Shares Attributable to Dilutive Effect of Equity Forward Agreements 186,000 2025-01-01 → 2025-12-31
Unit pure · 6 concepts
Label Value Period
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent 0.21 2025-01-01 → 2025-12-31
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent 0 2025-01-01 → 2025-12-31
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent 0 2025-01-01 → 2025-12-31
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Percent 0 2025-01-01 → 2025-12-31
Effective Income Tax Rate Reconciliation, Percent 0.001 2025-01-01 → 2025-12-31
Debt, Weighted Average Interest Rate 0.0446 as of 2025-12-31
Unit segment · 2 concepts
Label Value Period
Number of Operating Segments 1 2025-01-01 → 2025-12-31
Number of Reportable Segments 1 2025-01-01 → 2025-12-31

Other

1 concepts 1 unit
Unit US$ · 1 concept
Label Value Period
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture 8.96M 2025-01-01 → 2025-12-31

Methodology

All facts on this page come straight from SEC EDGAR XBRL company-facts filings (VICI CIK 0001705696), grouped by financial statement using FASB's base us-gaap presentation taxonomy. Filers may re-parent concepts onto different statements in their own extension taxonomy, so a handful of rows can show up under a different statement than on the actual 10-K / 10-Q; custom concepts and any we couldn't map fall into Other. Hover a cell to see the fully-qualified concept name and the filer's description.

For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.