VICI PROPERTIES INC (VICI) Stock Fundamental Analysis
NYSE:VICI - New York Stock Exchange, Inc. - US9256521090 - REIT - Currency: USD
We assign a fundamental rating of 5 out of 10 to VICI. VICI was compared to 28 industry peers in the Specialized REITs industry. While VICI has a great profitability rating, there are quite some concerns on its financial health. VICI scores decently on growth, while it is valued quite cheap. This could make an interesting combination.
1. Profitability
1.1 Basic Checks
In the past year VICI was profitable.
VICI had a positive operating cash flow in the past year.
In the past 5 years VICI has always been profitable.
Each year in the past 5 years VICI had a positive operating cash flow.
1.2 Ratios
VICI's Return On Assets of 6.26% is amongst the best of the industry. VICI outperforms 85.71% of its industry peers.
The Return On Equity of VICI (10.77%) is better than 71.43% of its industry peers.
With a decent Return On Invested Capital value of 6.55%, VICI is doing good in the industry, outperforming 75.00% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for VICI is in line with the industry average of 5.21%.
The 3 year average ROIC (5.40%) for VICI is below the current ROIC(6.55%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 6.26% | ||
| ROE | 10.77% | ||
| ROIC | 6.55% |
ROA(3y)4.81%
ROA(5y)4.76%
ROE(3y)7.81%
ROE(5y)7.95%
ROIC(3y)5.4%
ROIC(5y)5.13%
1.3 Margins
VICI's Profit Margin of 73.90% is amongst the best of the industry. VICI outperforms 100.00% of its industry peers.
In the last couple of years the Profit Margin of VICI has grown nicely.
The Operating Margin of VICI (96.27%) is better than 100.00% of its industry peers.
VICI's Operating Margin has improved in the last couple of years.
VICI has a Gross Margin of 99.25%. This is amongst the best in the industry. VICI outperforms 100.00% of its industry peers.
VICI's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 96.27% | ||
| PM (TTM) | 73.9% | ||
| GM | 99.25% |
OM growth 3Y7.52%
OM growth 5Y1.53%
PM growth 3Y-1.47%
PM growth 5Y3.6%
GM growth 3Y0.23%
GM growth 5Y0.24%
2. Health
2.1 Basic Checks
VICI has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
VICI has more shares outstanding than it did 1 year ago.
VICI has more shares outstanding than it did 5 years ago.
VICI has a worse debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of 1.39, we must say that VICI is in the distress zone and has some risk of bankruptcy.
With a decent Altman-Z score value of 1.39, VICI is doing good in the industry, outperforming 60.71% of the companies in the same industry.
The Debt to FCF ratio of VICI is 13.90, which is on the high side as it means it would take VICI, 13.90 years of fcf income to pay off all of its debts.
With a Debt to FCF ratio value of 13.90, VICI perfoms like the industry average, outperforming 53.57% of the companies in the same industry.
A Debt/Equity ratio of 0.67 indicates that VICI is somewhat dependend on debt financing.
VICI's Debt to Equity ratio of 0.67 is amongst the best of the industry. VICI outperforms 89.29% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.67 | ||
| Debt/FCF | 13.9 | ||
| Altman-Z | 1.39 |
ROIC/WACC0.89
WACC7.35%
2.3 Liquidity
A Current Ratio of 0.50 indicates that VICI may have some problems paying its short term obligations.
The Current ratio of VICI (0.50) is worse than 75.00% of its industry peers.
VICI has a Quick Ratio of 0.50. This is a bad value and indicates that VICI is not financially healthy enough and could expect problems in meeting its short term obligations.
With a Quick ratio value of 0.50, VICI is not doing good in the industry: 75.00% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.5 | ||
| Quick Ratio | 0.5 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 12.97% over the past year.
Measured over the past years, VICI shows a quite strong growth in Earnings Per Share. The EPS has been growing by 11.64% on average per year.
Looking at the last year, VICI shows a quite strong growth in Revenue. The Revenue has grown by 10.29% in the last year.
The Revenue has been growing by 32.10% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)12.97%
EPS 3Y16.71%
EPS 5Y11.64%
EPS Q2Q%27.27%
Revenue 1Y (TTM)10.29%
Revenue growth 3Y43.37%
Revenue growth 5Y32.1%
Sales Q2Q%6.67%
3.2 Future
VICI is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 4.83% yearly.
VICI is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 6.24% yearly.
EPS Next Y8.7%
EPS Next 2Y5.82%
EPS Next 3Y4.83%
EPS Next 5YN/A
Revenue Next Year6.83%
Revenue Next 2Y4.8%
Revenue Next 3Y4.12%
Revenue Next 5Y6.24%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 10.84, the valuation of VICI can be described as reasonable.
96.43% of the companies in the same industry are more expensive than VICI, based on the Price/Earnings ratio.
VICI's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 28.19.
With a Price/Forward Earnings ratio of 10.54, the valuation of VICI can be described as very reasonable.
VICI's Price/Forward Earnings ratio is rather cheap when compared to the industry. VICI is cheaper than 96.43% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 24.37. VICI is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.84 | ||
| Fwd PE | 10.54 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, VICI is valued cheaply inside the industry as 85.71% of the companies are valued more expensively.
VICI's Price/Free Cash Flow is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 24.35 | ||
| EV/EBITDA | 13.17 |
4.3 Compensation for Growth
VICI's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
VICI has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)1.25
PEG (5Y)0.93
EPS Next 2Y5.82%
EPS Next 3Y4.83%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 5.91%, VICI is a good candidate for dividend investing.
VICI's Dividend Yield is a higher than the industry average which is at 4.78.
Compared to an average S&P500 Dividend Yield of 2.28, VICI pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.91% |
5.2 History
On average, the dividend of VICI grows each year by 8.63%, which is quite nice.
VICI has been paying a dividend for over 5 years, so it has already some track record.
As VICI did not decrease their dividend in the past 5 years, we can say the dividend looks stable.
Dividend Growth(5Y)8.63%
Div Incr Years5
Div Non Decr Years5
5.3 Sustainability
VICI pays out 61.25% of its income as dividend. This is not a sustainable payout ratio.
The dividend of VICI is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP61.25%
EPS Next 2Y5.82%
EPS Next 3Y4.83%
VICI PROPERTIES INC
NYSE:VICI (1/23/2025, 10:45:08 AM)
29.2643
-0.19 (-0.63%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)
Earnings (Next)
Inst Owners98.93%
Inst Owner Change-0.05%
Ins Owners0.25%
Ins Owner Change-1.07%
Market Cap30.85B
Analysts82.67
Price Target36.47 (24.62%)
Short Float %2.17%
Short Ratio4.09
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.91% |
Yearly Dividend1.58
Dividend Growth(5Y)8.63%
DP61.25%
Div Incr Years5
Div Non Decr Years5
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)2.77%
Min EPS beat(2)2.65%
Max EPS beat(2)2.88%
EPS beat(4)3
Avg EPS beat(4)-0.57%
Min EPS beat(4)-15.92%
Max EPS beat(4)8.12%
EPS beat(8)5
Avg EPS beat(8)-1.3%
EPS beat(12)6
Avg EPS beat(12)-5.02%
EPS beat(16)8
Avg EPS beat(16)-5.46%
Revenue beat(2)0
Avg Revenue beat(2)-1.12%
Min Revenue beat(2)-1.49%
Max Revenue beat(2)-0.75%
Revenue beat(4)0
Avg Revenue beat(4)-0.87%
Min Revenue beat(4)-1.49%
Max Revenue beat(4)-0.41%
Revenue beat(8)3
Avg Revenue beat(8)-0.17%
Revenue beat(12)4
Avg Revenue beat(12)0.51%
Revenue beat(16)7
Avg Revenue beat(16)0.58%
PT rev (1m)0.35%
PT rev (3m)2.04%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-0.42%
EPS NY rev (1m)0%
EPS NY rev (3m)0.95%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)1.28%
Revenue NY rev (1m)0.03%
Revenue NY rev (3m)0.36%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.84 | ||
| Fwd PE | 10.54 | ||
| P/S | 8.11 | ||
| P/FCF | 24.35 | ||
| P/OCF | 13.33 | ||
| P/B | 1.18 | ||
| P/tB | 1.18 | ||
| EV/EBITDA | 13.17 |
EPS(TTM)2.7
EY9.23%
EPS(NY)2.78
Fwd EY9.49%
FCF(TTM)1.2
FCFY4.11%
OCF(TTM)2.2
OCFY7.5%
SpS3.61
BVpS24.77
TBVpS24.77
PEG (NY)1.25
PEG (5Y)0.93
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 6.26% | ||
| ROE | 10.77% | ||
| ROCE | 8.29% | ||
| ROIC | 6.55% | ||
| ROICexc | 6.6% | ||
| ROICexgc | 6.6% | ||
| OM | 96.27% | ||
| PM (TTM) | 73.9% | ||
| GM | 99.25% | ||
| FCFM | 33.3% |
ROA(3y)4.81%
ROA(5y)4.76%
ROE(3y)7.81%
ROE(5y)7.95%
ROIC(3y)5.4%
ROIC(5y)5.13%
ROICexc(3y)5.53%
ROICexc(5y)5.32%
ROICexgc(3y)3.98%
ROICexgc(5y)3.05%
ROCE(3y)6.84%
ROCE(5y)6.49%
ROICexcg growth 3Y64.4%
ROICexcg growth 5Y25.82%
ROICexc growth 3Y12.2%
ROICexc growth 5Y1.45%
OM growth 3Y7.52%
OM growth 5Y1.53%
PM growth 3Y-1.47%
PM growth 5Y3.6%
GM growth 3Y0.23%
GM growth 5Y0.24%
F-Score5
Asset Turnover0.08
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.67 | ||
| Debt/FCF | 13.9 | ||
| Debt/EBITDA | 4.8 | ||
| Cap/Depr | 22125.6% | ||
| Cap/Sales | 27.51% | ||
| Interest Coverage | 4.61 | ||
| Cash Conversion | 63.09% | ||
| Profit Quality | 45.06% | ||
| Current Ratio | 0.5 | ||
| Quick Ratio | 0.5 | ||
| Altman-Z | 1.39 |
F-Score5
WACC7.35%
ROIC/WACC0.89
Cap/Depr(3y)55707.7%
Cap/Depr(5y)65135.5%
Cap/Sales(3y)68.17%
Cap/Sales(5y)148.34%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)12.97%
EPS 3Y16.71%
EPS 5Y11.64%
EPS Q2Q%27.27%
EPS Next Y8.7%
EPS Next 2Y5.82%
EPS Next 3Y4.83%
EPS Next 5YN/A
Revenue 1Y (TTM)10.29%
Revenue growth 3Y43.37%
Revenue growth 5Y32.1%
Sales Q2Q%6.67%
Revenue Next Year6.83%
Revenue Next 2Y4.8%
Revenue Next 3Y4.12%
Revenue Next 5Y6.24%
EBIT growth 1Y16.14%
EBIT growth 3Y54.15%
EBIT growth 5Y34.12%
EBIT Next Year-6.21%
EBIT Next 3Y0.76%
EBIT Next 5Y4.24%
FCF growth 1Y155.75%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y32.91%
OCF growth 3Y35.15%
OCF growth 5Y34.04%