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VICI (VICI Properties Inc.) Stock Financials & Earnings | Market Cap Arena
VICI
VICI Properties Inc.
Mkt Cap
$32B
Real Estate
·
REIT - Diversified
·
🇺🇸 United States
·
NYSE
Revenue (TTM)
$4.0B
Net Income (TTM)
$2.8B
EPS (TTM)
$2.61
Free Cash Flow (TTM)
$2.5B
Gross Margin
99.3%
Op. Margin
91.1%
Net Margin
69.1%
FCF Margin
62.5%
P/S Ratio (TTM)
7.9x
P/E Ratio (TTM)
11.4x
YoY Rev Growth
+4.3%
Employees
—
Earnings Reports
▶
Q4 2025
NEW
Browse All Reports
Quarterly
FY
Revenue & Profitability
Revenue
Gross Profit
Operating Income
Quarter
Revenue
Gross Profit
Op. Income
Q1 23
$878M
$872M
$726M
Q2 23
$898M
$892M
$899M
Q3 23
$904M
$898M
$768M
Q4 23
$932M
$924M
$952M
Q1 24
$951M
$945M
$801M
Q2 24
$957M
$950M
$957M
Q3 24
$965M
$958M
$953M
Q4 24
$976M
$969M
$834M
Q1 25
$984M
$978M
$756M
Q2 25
$1.0B
$995M
$1.1B
Q3 25
$1.0B
$1.0B
$984M
Q4 25
$1.0B
$1.0B
$814M
marketcaparena.com
Revenue Breakdown
VICI
VICI Properties Inc.
Revenue Breakdown
Q4 2025
marketcaparena.com
Valuation
P/S Ratio
P/E Ratio
Quarter
P/S
P/E
Q1 23
10.3x
22.7x
Q2 23
9.6x
14.8x
Q3 23
9.2x
13.4x
Q4 23
8.8x
12.6x
Q1 24
8.6x
12.3x
Q2 24
8.5x
12.0x
Q3 24
8.3x
11.3x
Q4 24
8.2x
11.8x
Q1 25
8.2x
12.0x
Q2 25
8.1x
11.5x
Q3 25
8.0x
11.4x
Q4 25
7.9x
11.4x
marketcaparena.com
Operating Cash Flow
Operating Cash Flow
Free Cash Flow
Quarter
Operating CF
Free CF
Q1 23
$522M
$521M
Q2 23
$530M
$530M
Q3 23
$552M
$552M
Q4 23
$576M
$574M
Q1 24
$544M
$541M
Q2 24
$615M
$612M
Q3 24
$579M
$578M
Q4 24
$644M
$643M
Q1 25
$592M
$592M
Q2 25
$640M
$639M
Q3 25
$586M
$587M
Q4 25
$692M
$692M
marketcaparena.com
Capital Expenditures
CapEx
Quarter
CapEx
Q1 23
$988K
Q2 23
$329K
Q3 23
$577K
Q4 23
$2M
Q1 24
$2M
Q2 24
$3M
Q3 24
$1M
Q4 24
$1M
Q1 25
$156K
Q2 25
$672K
Q3 25
$828K
Q4 25
$302K
marketcaparena.com
OpEx vs Revenue Growth (YoY)
Revenue Growth
OpEx Growth
Quarter
Revenue Growth
OpEx Growth
Q1 23
+110.7%
+44.7%
Q2 23
+35.5%
-100.1%
Q3 23
+20.3%
-49.4%
Q4 23
+21.0%
-322.6%
Q1 24
+8.4%
-1.0%
Q2 24
+6.6%
+76.0%
Q3 24
+6.7%
-91.2%
Q4 24
+4.7%
+813.3%
Q1 25
+3.4%
+52.4%
Q2 25
+4.6%
-96576.9%
Q3 25
+5.2%
+160.0%
Q4 25
+3.8%
+40.2%
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Stock-Based Compensation
SBC ($)
% of Revenue
Quarter
SBC ($)
% of Revenue
Q1 23
$3M
0.4%
Q2 23
$4M
0.4%
Q3 23
$4M
0.4%
Q4 23
$4M
0.4%
Q1 24
$4M
0.4%
Q2 24
$5M
0.5%
Q3 24
$5M
0.5%
Q4 24
$5M
0.5%
Q1 25
$3M
0.3%
Q2 25
$4M
0.4%
Q3 25
$4M
0.4%
Q4 25
$0
0.0%
marketcaparena.com
OpEx Breakdown
G&A
Quarter
G&A
Q1 23
$15M
Q2 23
$15M
Q3 23
$14M
Q4 23
$15M
Q1 24
$16M
Q2 24
$16M
Q3 24
$16M
Q4 24
$21M
Q1 25
$15M
Q2 25
$15M
Q3 25
$16M
Q4 25
$19M
marketcaparena.com
Revenue Segments
Quarter
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War Chest
Cash & Equivalents
Short-Term Investments
Quarter
Cash
Short-term Investments
Total
Q1 23
$248M
$0
$248M
Q2 23
$739M
$0
$739M
Q3 23
$511M
$0
$511M
Q4 23
$523M
$0
$523M
Q1 24
$485M
$30M
$515M
Q2 24
$347M
$0
$347M
Q3 24
$356M
$0
$356M
Q4 24
$525M
$0
$525M
Q1 25
$334M
$0
$334M
Q2 25
$233M
$0
$233M
Q3 25
$508M
$0
$508M
Q4 25
$563M
$44M
$608M
marketcaparena.com
Shares Outstanding
Shares Outstanding
Quarter
Shares (Diluted)
QoQ Change
Q1 23
1.00B
+4.0%
Q2 23
1.01B
+0.4%
Q3 23
1.01B
+0.6%
Q4 23
1.04B
+2.4%
Q1 24
1.04B
+0.5%
Q2 24
1.04B
-0.0%
Q3 24
1.05B
+0.5%
Q4 24
1.06B
+0.7%
Q1 25
1.06B
+0.1%
Q2 25
1.06B
+0.1%
Q3 25
1.07B
+1.0%
Q4 25
1.06B
-0.7%
marketcaparena.com
Revenue Per Employee
Revenue / Employee
Year
Revenue/Employee
Employees
FY 14
—
—
FY 15
—
—
FY 16
—
—
FY 17
$1M
140
FY 18
$6M
140
FY 19
$6M
140
FY 20
$8M
147
FY 21
$10M
152
FY 22
$113M
23
FY 23
$129M
28
FY 24
$143M
27
FY 25
$143M
28
marketcaparena.com