VICI Properties Inc. Financial Ratios — VICI Stock

Profitability (USD)

	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	- -	11.54	- -	186.64	442.23	270.4	498.84	407.88	491.16	465.91	187.71	119.23
Return on Assets (%)	- -	0.01	- -	0.87	4.97	4.44	5.88	5.85	4.05	6.16	5.99	6.03
Return on Capital (%)	- -	- -	- -	- -	15.13	16.51	19.27	21.96	16.01	- -	17.76	17.51
Return on Invested Capital (%)	- -	- -	- -	- -	7.36	7.07	6.2	8.54	6.03	- -	8.04	8.07
Gross Margin (%)	25.6	25.78	26.86	83.24	98.07	97.89	97.27	98.62	99.13	99.25	99.3	99.33
EBITDA Margin (%)	15.56	16.04	16.17	77.64	86.23	95.14	74.82	95.88	62.89	92.72	92.2	91.33
Operating Margin (%)	0.21	0.1	0.04	76.07	85.82	94.71	74.52	95.68	62.77	92.6	92.1	91.24
Incremental Operating Margin (%)	- -	2.53	-1.55	83.89	88.64	-2,416.36	19.88	187.01	17.24	169.33	84.35	70.34
Pretax Margin (%)	- -	- -	- -	21.17	59.42	62.14	73.19	67.97	43.8	70.56	70.95	70.42
Profit Margin (%)	0.02	0.02	- -	21.18	58.31	61.02	72.76	67.16	42.97	69.59	69.59	69.28
Net Income to Common Margin (%)	0.02	0.02	- -	21.18	58.31	61.02	72.76	67.16	42.97	69.59	69.59	69.28
Effective Tax Rate (%)	- -	- -	- -	- -	0.27	0.31	0.09	0.28	0.25	- -	0.36	0.09
Dvd Payout Ratio (%)	- -	- -	- -	- -	48.59	89.58	67.97	73.49	105.56	61.02	63.43	64.77
Sustainable Growth Rate (%)	- -	11.54	- -	186.64	227.35	28.18	159.79	108.12	-27.31	181.62	68.65	42

Credit (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	- -	- -	- -	5,086	4,122	4,818	7,067	4,992	14,569	17,629	17,650	17,690
ST Debt	- -	- -	- -	300	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	- -	- -	- -	4,786	4,122	4,818	7,067	4,992	14,569	17,629	17,650	17,690
Total Debt/EBITDA	- -	0.02	- -	32.52	5.32	5.66	7.71	3.45	8.91	5.26	4.97	4.83
Net Debt/EBITDA	- -	-0.1	-0.3	31.35	4.58	4.33	7.03	2.73	8.27	4.84	4.57	4.43
Total Debt/EBIT	- -	3.61	2	33.19	5.35	5.68	7.74	3.46	8.92	5.27	4.98	4.84
Net Debt/EBIT	- -	-15.89	-129.43	31.99	4.6	4.35	7.06	2.74	8.29	4.84	4.57	4.43
EBITDA to Interest Expense	75.46	161.11	433.86	2.47	3.64	3.43	2.97	3.69	3.03	4.09	4.3	4.34
EBITDA-CapEx/Interest Expense	75.03	116.78	309.71	2.44	3.64	3.42	2.96	3.68	3.03	4.09	4.29	4.34
EBIT to Interest Expense	1	1	1	2.42	3.62	3.41	2.96	3.68	3.02	4.09	4.29	4.33
Interest Expense	- -	- -	- -	63	213	248	309	392	540	818	826	844
Common Equity/Total Assets	- -	0.06	0.06	0.47	1.69	1.6	0.85	2	0.27	2.22	4.14	5.94
Long-Term Debt/Equity (%)	- -	0.02	- -	100.2	59.73	59.86	74.44	40.96	65.36	68.71	65.49	62.68
Long-Term Debt/Capital (%)	- -	11.97	- -	91.75	93.75	94.2	96.94	92.05	96.94	92.75	88.51	84.67
Long-Term Debt/Total Assets (%)	- -	0.02	- -	49.14	36.37	36.32	41.42	28.37	38.77	40.01	38.9	37.86
Total Debt/Equity (%)	- -	0.08	0.02	106.48	59.73	59.86	74.44	40.96	65.36	68.71	65.49	62.68
Total Debt/Capital (%)	- -	55.56	21.21	97.5	93.75	94.2	96.94	92.05	96.94	92.75	88.51	84.67
Total Debt/Total Assets (%)	- -	0.07	0.02	52.22	36.37	36.32	41.42	28.37	38.77	40.01	38.9	37.86
Net Debt to Equity	- -	-0.33	-1.08	102.63	51.36	45.84	67.93	32.45	60.7	63.14	60.14	57.44
Net Debt/Capital (%)	- -	122.22	106.09	97.41	92.81	91.95	92.48	84.44	91.3	87.65	83.47	79.74
EBITDA	3	3	3	156	774	851	917	1,447	1,636	3,349	3,549	3,659
EBITDA-CapEx	3	2	2	154	773	849	914	1,445	1,634	3,345	3,542	3,658
Operating Income (Loss)	- -	- -	- -	153	771	847	913	1,444	1,632	3,345	3,545	3,655

Liquidity (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	- -	0.29	0.9	1.88	5.33	4.66	1.01	2.18	0.72	0.79	0.77	0.84
Current Ratio	- -	0.85	1.61	2.02	5.57	4.92	8.91	9.99	28.97	28.22	27.92	26.68
Quick Ratio	- -	0.44	0.97	1.88	5.46	4.91	8.9	9.98	28.95	28.22	27.91	26.67
CFO/Avg Current Liab	- -	4.72	2.42	2.67	3.32	3	3.04	2.67	4.16	3.47	3.54	3.57
Common Equity/Total Assets	- -	0.06	0.06	0.47	1.69	1.6	0.85	2	0.27	2.22	4.14	5.94
Long-Term Debt/Equity (%)	- -	0.02	- -	100.2	59.73	59.86	74.44	40.96	65.36	68.71	65.49	62.68
Long-Term Debt/Capital (%)	- -	11.97	- -	91.75	93.75	94.2	96.94	92.05	96.94	92.75	88.51	84.67
Long-Term Debt/Total Assets (%)	- -	0.02	- -	49.14	36.37	36.32	41.42	28.37	38.77	40.01	38.9	37.86
Total Debt/Equity (%)	- -	0.08	0.02	106.48	59.73	59.86	74.44	40.96	65.36	68.71	65.49	62.68
Total Debt/Capital (%)	- -	55.56	21.21	97.5	93.75	94.2	96.94	92.05	96.94	92.75	88.51	84.67
Total Debt/Total Assets (%)	- -	0.07	0.02	52.22	36.37	36.32	41.42	28.37	38.77	40.01	38.9	37.86
CFO/Total Liabilities	- -	43.37	42.97	2.65	11.37	13.08	11.67	16.57	12.71	11.85	12.93	13.57
CFO/CapEx	180.76	3.62	3.13	66.88	560.71	250.43	319.23	357.82	1,035.93	540.52	316.44	1,880.14
Altman's Z-Score	- -	0.2	0.22	0.9	1.36	1.67	1.47	2.48	1.86	1.91	1.88	1.87

Working Capital (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	- -	197.56	144.5	5,232.1	- -	- -	- -	- -	- -	1,158.43	681.15	1,079.38
Days Sales Outstanding	- -	1.85	2.53	0.07	- -	- -	- -	- -	- -	0.32	0.54	0.34
Inventory Turnover	- -	60.71	33.8	182.04	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	6.01	10.8	2.01	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	81.05	42.25	12.12	5.55	22.28	48.65	56.57	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	4.5	8.64	30.12	65.81	16.39	7.5	6.45	- -	- -	- -	- -
Cash Conversion Cycle	- -	3.36	4.69	-28.05	-65.81	-16.39	-7.5	-6.45	- -	0.32	0.54	0.34
Inventory to Cash Days	- -	-4.16	-8.27	-1.94	- -	- -	- -	- -	- -	0.32	0.54	0.34
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	- -	- -	- -	6,715	6,897	11,116	12,907	16,996	28,431	32,343	30,575	29,864
- Cash & Cash Equivalents	- -	- -	1	184	578	1,102	316	740	209	523	525	563
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	85	84	84	78	79	356	402	414	425
+ Total Debt	- -	- -	- -	5,086	4,122	4,818	7,067	4,992	14,569	17,629	17,650	17,690
Enterprise Value	- -	- -	-1	11,702	10,004	14,856	19,716	21,327	42,930	49,850	48,115	47,370
Total Capital	- -	- -	- -	5,216	4,397	5,114	7,290	5,423	15,028	19,007	19,942	20,892
Total Debt/Capital (%)	- -	55.56	21.21	97.5	93.75	94.2	96.94	92.05	96.94	92.75	88.51	84.67
Total Debt / EV	- -	-0.23	-0.02	0.43	0.41	0.32	0.36	0.23	0.34	0.35	0.37	0.37
EV/Sales	- -	- -	- -	58.09	11.14	16.6	16.09	14.13	16.51	13.8	12.5	11.82
EV/EBITDA	- -	- -	- -	74.82	12.92	17.45	21.5	14.73	26.25	14.88	13.56	12.95
EV/EBIT	- -	- -	- -	76.36	12.98	17.53	21.59	14.77	26.3	14.9	13.57	12.96
EV/Cash Flow to Firm	- -	- -	- -	59.14	13.97	15.98	16.54	16.56	17.3	16.61	15.01	14.13
EV/Free Cash Flow to Firm	- -	- -	- -	58.56	13.95	15.93	16.5	16.53	17.28	16.59	14.98	14.12
Diluted Market Cap	- -	- -	- -	6,715	6,898	11,220	13,028	17,375	28,501	32,383	30,603	29,883
Diluted Enterprise Value	- -	- -	-1	11,702	10,526	15,020	19,858	21,707	43,218	49,891	48,142	47,434
EV per Share	- -	- -	- -	35.73	27.24	34.15	38.95	37.78	48.92	49.14	45.97	44.6
TTM Sales	19	18	19	201	898	895	1,226	1,510	2,601	3,612	3,849	4,006
TTM EBITDA	3	3	3	156	774	851	917	1,447	1,636	3,349	3,549	3,659
TTM Operating Income	- -	- -	- -	153	771	847	913	1,444	1,632	3,345	3,545	3,655
TTM Cash Flow to Firm	- -	- -	- -	198	716	930	1,192	1,288	2,482	3,001	3,205	3,353
TTM Free Cash Flow to Firm	- -	- -	- -	200	717	933	1,195	1,290	2,484	3,005	3,212	3,354

Multiples (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	- -	- -	- -	50.25	13.66	16.38	14.7	19.33	14.65	14.82	12.81	11.9
EV/EBIT	- -	- -	- -	76.36	12.98	17.53	21.59	14.77	26.3	14.9	13.57	12.96
Enterprise Value	- -	- -	-1	11,702	10,004	14,856	19,716	21,327	42,930	49,850	48,115	47,370
Low Price	- -	- -	- -	14.33	17.58	18.33	9.85	24.51	26.23	26.63	27.08	27.56
EV/Sales	- -	- -	- -	58.09	11.14	16.6	16.09	14.13	16.51	13.8	12.5	11.82
EV/EBITDA	- -	- -	- -	74.82	12.92	17.45	21.5	14.73	26.25	14.88	13.56	12.95
Price/Earnings	- -	- -	- -	157.39	13.17	20.36	14.47	16.76	25.44	12.87	11.41	10.76
Price/Earnings Average	- -	- -	- -	145.25	14.21	17.84	12.63	16.38	24.1	12.66	11.92	11.99
Price/Earnings High	- -	- -	- -	161.23	16.12	20.36	16.32	18.57	28.02	14.15	13.4	13.02
Price/Earnings Low	- -	- -	- -	109.98	12.33	14.61	5.59	13.65	20.59	10.75	10.58	10.55
Price/Book Value	- -	- -	- -	147.04	36.08	52.27	89.12	48.24	276.61	33.13	16.28	10.75
Price/Book Value Average	- -	- -	- -	135.7	38.93	45.78	77.76	47.14	262.03	32.61	17	11.98
Price/Book Value High	- -	- -	- -	150.63	44.17	52.27	100.48	53.43	304.7	36.45	19.11	13.01
Price/Book Value Low	- -	- -	- -	102.75	33.77	37.5	34.43	39.27	223.93	27.68	15.09	10.54
Price/Tangible Book Value	- -	- -	- -	1.41	1	1.38	1.36	1.39	1.28	1.26	1.13	1.06
Price/Tangible Book Value Average	- -	- -	- -	1.3	1.08	1.21	1.19	1.36	1.21	1.24	1.18	1.18
Price/Tangible Book Value High	- -	- -	- -	1.44	1.22	1.38	1.53	1.54	1.41	1.39	1.33	1.28
Price/Tangible Book Value Low	- -	- -	- -	0.98	0.94	0.99	0.53	1.14	1.03	1.05	1.05	1.04
Price/Sales	- -	- -	- -	33.33	7.68	12.42	10.53	11.26	10.93	8.95	7.94	7.45
Price/Sales Average	- -	- -	- -	30.76	8.29	10.88	9.19	11	10.36	8.81	8.3	8.31
Price/Sales High	- -	- -	- -	34.15	9.4	12.42	11.87	12.47	12.04	9.85	9.32	9.02
Price/Sales Low	- -	- -	- -	23.29	7.19	8.91	4.07	9.16	8.85	7.48	7.36	7.31
Price/Cash Flow	- -	- -	- -	50.99	13.68	16.3	14.61	18.96	14.63	14.83	12.84	11.9
Price/Cash Flow Average	- -	- -	- -	47.06	14.76	14.27	12.74	18.53	13.86	14.6	13.41	13.26
Price/Cash Flow High	- -	- -	- -	52.23	16.75	16.3	16.47	21	16.12	16.31	15.07	14.4
Price/Cash Flow Low	- -	- -	- -	35.63	12.81	11.69	5.64	15.43	11.84	12.39	11.9	11.66
Price/Free Cash Flow Average	- -	- -	- -	46.37	14.74	14.35	12.82	18.89	13.88	14.59	13.38	13.26
Price/Free Cash Flow High	- -	- -	- -	51.47	16.72	16.38	16.57	21.41	16.14	16.3	15.04	14.4
Price/Free Cash Flow Low	- -	- -	- -	35.11	12.79	11.75	5.68	15.74	11.86	12.38	11.88	11.66
EV/Sales Average	- -	- -	- -	55.52	12.33	15.13	14.76	13.87	16.01	13.66	12.85	12.69
EV/Sales High	- -	- -	- -	58.9	13.44	16.67	17.45	15.34	17.7	14.7	13.88	13.4
EV/Sales Low	- -	- -	- -	48.05	11.23	13.16	9.64	12.03	14.51	12.33	11.92	11.69
EV/EBITDA Average	- -	-0.1	-0.3	71.51	14.29	15.9	19.73	14.47	25.46	14.73	13.94	13.89
EV/EBITDA High	- -	-0.1	-0.3	75.87	15.59	17.52	23.32	16	28.14	15.85	15.06	14.67
EV/EBITDA Low	- -	-0.1	-0.3	61.89	13.02	13.83	12.88	12.55	23.07	13.29	12.93	12.8
EV/EBIT Average	- -	-15.89	-129.43	72.98	14.36	15.97	19.81	14.5	25.51	14.75	13.96	13.9
EV/EBIT High	- -	-15.89	-129.43	77.43	15.66	17.6	23.41	16.03	28.2	15.87	15.07	14.69
EV/EBIT Low	- -	-15.89	-129.43	63.16	13.08	13.89	12.94	12.58	23.11	13.31	12.94	12.81
Last Price	- -	- -	- -	20.5	18.78	25.55	25.5	30.11	32.4	31.88	29.21	28.12
High Price	- -	- -	- -	21	22.99	25.55	28.75	33.35	35.69	35.07	34.29	34.03
Enterprise Value Average	- -	- -	-1	11,184	11,069	13,537	18,091	20,940	41,649	49,342	49,472	50,825
Enterprise Value High	- -	- -	-1	11,865	12,070	14,916	21,381	23,156	46,035	53,087	53,432	53,691
Enterprise Value Low	- -	- -	-1	9,679	10,084	11,775	11,815	18,166	37,734	44,524	45,885	46,820

	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	- -	246	246	300	405	461	537	629	963	1,043	1,056	1,069
Diluted Weighted Avg Shares	361	361	361	328	367	439	511	577	880	1,016	1,048	1,063
Basic Weighted Avg Shares	361	361	361	328	367	435	506	564	878	1,015	1,047	1,062
Revenue per Share	0.05	0.05	0.05	0.61	2.45	2.06	2.42	2.67	2.96	3.56	3.68	3.77
EBITDA per Share	0.01	0.01	0.01	0.48	2.11	1.96	1.81	2.56	1.86	3.3	3.39	3.45
Operating Income per Share	- -	- -	- -	0.47	2.1	1.95	1.8	2.56	1.86	3.3	3.39	3.44
Basic EPS, GAAP	- -	- -	- -	0.13	1.43	1.25	1.76	1.8	1.27	2.48	2.56	2.61
Basic EPS from Cont Ops	- -	- -	- -	0.14	1.45	1.27	1.77	1.81	1.29	2.52	2.6	2.65
Diluted EPS, GAAP	- -	- -	- -	0.13	1.43	1.24	1.75	1.76	1.27	2.47	2.56	2.61
Diluted EPS from Cont Ops	- -	- -	- -	0.14	1.45	1.26	1.75	1.77	1.29	2.51	2.6	2.65
Dividend per Share	- -	- -	- -	- -	0.72	1.16	1.21	1.34	1.39	1.56	1.67	1.75
Cash Flow per Share	0.01	0.01	0.01	0.4	1.37	1.57	1.75	1.59	2.21	2.15	2.28	2.36
Free Cash Flow per Basic Share	0.01	0.01	0.01	0.4	1.37	1.56	1.74	1.58	2.21	2.15	2.27	2.36
Cash & Equivalents per Share	- -	- -	- -	0.56	2.99	2.67	0.66	1.31	0.49	0.52	0.5	0.57
Book Value per Share	- -	- -	- -	0.14	0.52	0.49	0.29	0.62	0.12	0.96	1.79	2.62
Tangible Book Value per Share	- -	0.24	0.23	14.58	18.79	18.5	18.76	21.59	25.4	25.29	25.75	26.57

VICI Properties Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)