VICI PROPERTIES INC (VICI)
US9256521090 - REIT
Taking everything into account, VICI scores 6 out of 10 in our fundamental rating. VICI was compared to 28 industry peers in the Specialized REITs industry. VICI has an excellent profitability rating, but there are 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
VICI had positive earnings in the past year.
VICI had a positive operating cash flow in the past year.
Each year in the past 5 years VICI has been profitable.
In the past 5 years VICI always reported a positive cash flow from operatings.
1.2 Ratios
VICI has a Return On Assets of 6.26%. This is amongst the best in the industry. VICI outperforms 85.71% of its industry peers.
VICI has a Return On Equity of 10.77%. This is in the better half of the industry: VICI outperforms 71.43% of its industry peers.
VICI's Return On Invested Capital of 6.55% is fine compared to the rest of the industry. VICI outperforms 75.00% of its industry peers.
VICI had an Average Return On Invested Capital over the past 3 years of 5.40%. This is in line with the industry average of 5.21%.
The last Return On Invested Capital (6.55%) for VICI is above the 3 year average (5.40%), which is a sign of increasing profitability.
| 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
With an excellent Profit Margin value of 73.90%, VICI belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.
VICI's Profit Margin has improved in the last couple of years.
VICI's Operating Margin of 96.27% is amongst the best of the industry. VICI outperforms 100.00% of its industry peers.
In the last couple of years the Operating Margin of VICI has grown nicely.
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
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), VICI 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.
Compared to 1 year ago, VICI has a worse debt to assets ratio.
2.2 Solvency
VICI has an Altman-Z score of 1.37. This is a bad value and indicates that VICI is not financially healthy and even has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 1.37, VICI is in the better half of 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.
VICI's Debt to FCF ratio of 13.90 is in line compared to the rest of the industry. VICI outperforms 53.57% of its industry peers.
A Debt/Equity ratio of 0.67 indicates that VICI is somewhat dependend on debt financing.
VICI has a better Debt to Equity ratio (0.67) than 89.29% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.67 | ||
| Debt/FCF | 13.9 | ||
| Altman-Z | 1.37 |
ROIC/WACC0.89
WACC7.32%
2.3 Liquidity
VICI has a Current 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.
VICI has a Current ratio of 0.50. This is in the lower half of the industry: VICI underperforms 75.00% of its industry peers.
A Quick Ratio of 0.50 indicates that VICI may have some problems paying 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.
VICI shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 11.64% yearly.
Looking at the last year, VICI shows a quite strong growth in Revenue. The Revenue has grown by 10.29% in the last year.
VICI shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 32.10% yearly.
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
Based on estimates for the next years, VICI will show a small growth in Earnings Per Share. The EPS will grow by 4.83% on average per year.
Based on estimates for the next years, VICI will show a small growth in Revenue. The Revenue will grow by 6.24% on average per year.
EPS Next Y8.7%
EPS Next 2Y5.82%
EPS Next 3Y4.83%
EPS Next 5YN/A
Revenue Next Year6.8%
Revenue Next 2Y4.7%
Revenue Next 3Y3.91%
Revenue Next 5Y6.24%
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
VICI is valuated reasonably with a Price/Earnings ratio of 10.66.
Compared to the rest of the industry, the Price/Earnings ratio of VICI indicates a rather cheap valuation: VICI is cheaper than 100.00% of the companies listed in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 27.73, VICI is valued rather cheaply.
Based on the Price/Forward Earnings ratio of 10.37, the valuation of VICI can be described as reasonable.
100.00% of the companies in the same industry are more expensive than VICI, based on the Price/Forward Earnings ratio.
The average S&P500 Price/Forward Earnings ratio is at 22.83. VICI is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.66 | ||
| Fwd PE | 10.37 |
4.2 Price Multiples
85.71% of the companies in the same industry are more expensive than VICI, based on the Enterprise Value to EBITDA ratio.
Based on the Price/Free Cash Flow ratio, VICI is valued a bit cheaper than the industry average as 64.29% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 23.95 | ||
| EV/EBITDA | 12.98 |
4.3 Compensation for Growth
The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
The excellent profitability rating of VICI may justify a higher PE ratio.
PEG (NY)1.23
PEG (5Y)0.92
EPS Next 2Y5.82%
EPS Next 3Y4.83%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 6.12%, VICI is a good candidate for dividend investing.
VICI's Dividend Yield is a higher than the industry average which is at 4.85.
Compared to an average S&P500 Dividend Yield of 2.34, VICI pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.12% |
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.
VICI has not decreased its dividend in the past 5 years, so it has a somewhat stable track record.
Dividend Growth(5Y)8.63%
Div Incr Years5
Div Non Decr Years5
5.3 Sustainability
61.25% of the earnings are spent on dividend by VICI. 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 (12/20/2024, 8:04:00 PM)
After market: 28.84 +0.05 (+0.17%)28.79
+0.52 (+1.84%)
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 Change1.64%
Ins Owners0.25%
Ins Owner Change-1.07%
Market Cap30.35B
Analysts82.67
Price Target36.34 (26.22%)
Short Float %2.25%
Short Ratio5.18
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.12% |
Dividend Growth(5Y)8.63%
DP61.25%
Div Incr Years5
Div Non Decr Years5
Ex-Date
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)1.13%
PT rev (3m)1.82%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-0.42%
EPS NY rev (1m)0.31%
EPS NY rev (3m)0.95%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)1.28%
Revenue NY rev (1m)-0.05%
Revenue NY rev (3m)0.33%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.66 | ||
| Fwd PE | 10.37 | ||
| P/S | 7.98 | ||
| P/FCF | 23.95 | ||
| P/OCF | 13.12 | ||
| P/B | 1.16 | ||
| P/tB | 1.16 | ||
| EV/EBITDA | 12.98 |
EPS(TTM)2.7
EY9.38%
EPS(NY)2.78
Fwd EY9.65%
FCF(TTM)1.2
FCFY4.18%
OCF(TTM)2.2
OCFY7.62%
SpS3.61
BVpS24.77
TBVpS24.77
PEG (NY)1.23
PEG (5Y)0.92
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 | 1.37 |
F-Score5
WACC7.32%
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 Year6.8%
Revenue Next 2Y4.7%
Revenue Next 3Y3.91%
Revenue Next 5Y6.24%
EBIT growth 1Y16.14%
EBIT growth 3Y54.15%
EBIT growth 5Y34.12%
EBIT Next Year-6.3%
EBIT Next 3Y-0.42%
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%