Vici Pptys Financials

VICI

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Vici Pptys (VICI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Piotroski F-Score Neutral

6/9

Vici Pptys passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed

0.89x

For every $1 of reported earnings, Vici Pptys generates $0.89 in operating cash flow ($2.4B OCF vs $2.7B net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Revenue

$3.8B

YoY+6.6%

5Y CAGR+33.9%

Vici Pptys generated $3.8B in revenue in fiscal year 2024. This represents an increase of 6.6% from the prior year.

EBITDA

N/A

Free Cash Flow

N/A

Net Income

$2.7B

YoY+6.6%

5Y CAGR+37.5%

Vici Pptys reported $2.7B in net income in fiscal year 2024. This represents an increase of 6.6% from the prior year.

EPS (Diluted)

$2.56

YoY+3.6%

5Y CAGR+15.6%

Vici Pptys earned $2.56 per diluted share (EPS) in fiscal year 2024. This represents an increase of 3.6% from the prior year.

Cash & Debt

$524.6M

YoY+0.4%

5Y CAGR-13.8%

Vici Pptys held $524.6M in cash against $16.7B in long-term debt as of fiscal year 2024.

Dividends Per Share

$1.70

YoY+5.3%

5Y CAGR+7.7%

Vici Pptys paid $1.70 per share in dividends in fiscal year 2024. This represents an increase of 5.3% from the prior year.

Shares Outstanding

1.06B

YoY+1.3%

5Y CAGR+18.0%

Vici Pptys had 1.06B shares outstanding in fiscal year 2024. This represents an increase of 1.3% from the prior year.

Gross Margin

99.3%

YoY+0.0pp

5Y CAGR+1.4pp

Vici Pptys's gross margin was 99.3% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 0.0 percentage points from the prior year.

Operating Margin

N/A

Net Margin

69.6%

YoY+0.0pp

5Y CAGR+8.6pp

Vici Pptys's net profit margin was 69.6% in fiscal year 2024, showing the share of revenue converted to profit. This is up 0.0 percentage points from the prior year.

Return on Equity

10.1%

YoY+0.1pp

5Y CAGR+3.2pp

Vici Pptys's ROE was 10.1% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 0.1 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

VICI Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$3.8B+6.6%	$3.6B+38.9%	$2.6B+72.3%	$1.5B+23.2%	$1.2B+37.0%	$894.8M
Cost of Revenue	$26.9M-0.7%	$27.1M+19.9%	$22.6M+8.9%	$20.8M+17.8%	$17.6M-6.7%	$18.9M
Gross Profit	$3.8B+6.6%	$3.6B+39.1%	$2.6B+73.2%	$1.5B+23.3%	$1.2B+37.9%	$875.9M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$69.1M+15.9%	$59.6M+23.3%	$48.3M+45.9%	$33.1M+8.0%	$30.7M+24.8%	$24.6M
Operating Income	N/A	N/A	N/A	N/A	$321.0M+513.8%	$52.3M
Interest Expense	$826.1M+1.0%	$818.1M+51.5%	$540.0M+37.6%	$392.4M+27.1%	$308.6M+24.2%	$248.4M
Income Tax	$9.7M+258.0%	-$6.1M-313.5%	$2.9M-0.4%	$2.9M+247.4%	$831K-51.3%	$1.7M
Net Income	$2.7B+6.6%	$2.5B+124.9%	$1.1B+10.2%	$1.0B+13.7%	$891.7M+63.3%	$546.0M
EPS (Diluted)	$2.56+3.6%	$2.47+94.5%	$1.27-27.8%	$1.76+0.6%	$1.75+41.1%	$1.24

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$1.0B+0.6%	$1.0B+1.7%	$984.2M+0.8%	$976.1M+2.0%	$957.0M+0.6%	$951.5M+2.1%	$931.9M+3.0%	$904.3M
Cost of Revenue	$6.8M+2.2%	$6.6M+4.2%	$6.4M-5.9%	$6.7M-1.0%	$6.8M+4.6%	$6.5M-20.7%	$8.2M+29.7%	$6.3M
Gross Profit	$1.0B+0.6%	$994.7M+1.7%	$977.9M+0.9%	$969.3M+2.0%	$950.2M+0.6%	$945.0M+2.3%	$923.6M+2.9%	$898.0M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$16.3M+12.2%	$14.6M-2.0%	$14.9M-28.2%	$20.7M+31.2%	$15.8M-2.6%	$16.2M+6.1%	$15.3M+5.8%	$14.4M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$210.3M-1.6%	$213.8M+2.2%	$209.3M+0.5%	$208.1M+1.1%	$205.8M+0.4%	$204.9M-0.1%	$205.2M+0.1%	$204.9M
Income Tax	$3.9M-30.2%	$5.6M+326.5%	-$2.5M-200.4%	$2.4M-24.3%	$3.2M+107.0%	$1.6M+116.0%	-$9.8M-1617.2%	$644K
Net Income	$762.0M-11.9%	$865.1M+59.1%	$543.6M-11.6%	$614.6M-17.1%	$741.3M+25.6%	$590.0M-21.1%	$747.8M+34.4%	$556.3M
EPS (Diluted)	$0.71-13.4%	$0.82+60.8%	$0.51-12.1%	$0.58-18.3%	$0.71+24.6%	$0.57-19.7%	$0.71+29.1%	$0.55

VICI Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$45.4B+3.0%	$44.1B+17.3%	$37.6B+113.5%	$17.6B+3.1%	$17.1B+28.6%	$13.3B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$524.6M+0.4%	$522.6M+150.1%	$208.9M-71.8%	$739.6M+134.1%	$316.0M-71.3%	$1.1B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$18.4B+0.1%	$18.4B+20.4%	$15.3B+182.5%	$5.4B-28.5%	$7.6B+45.1%	$5.2B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$16.7B+0.1%	$16.7B+21.7%	$13.7B+192.7%	$4.7B-30.6%	$6.8B+41.2%	$4.8B
Total Equity	$26.5B+5.1%	$25.3B+15.1%	$21.9B+81.1%	$12.1B+28.6%	$9.4B+18.2%	$8.0B
Retained Earnings	$1.9B+93.4%	$965.8M+936.7%	$93.2M-73.1%	$346.0M+148.1%	$139.5M-33.0%	$208.1M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$46.5B+1.0%	$46.1B+1.2%	$45.5B+0.3%	$45.4B+1.9%	$44.5B+0.8%	$44.2B+0.2%	$44.1B+2.9%	$42.8B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$507.5M+117.8%	$233.0M-30.3%	$334.3M-36.3%	$524.6M+51.1%	$347.2M-28.5%	$485.3M-7.1%	$522.6M+2.3%	$510.9M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$18.4B-0.9%	$18.6B+0.6%	$18.5B+0.5%	$18.4B+0.2%	$18.4B+0.2%	$18.3B-0.3%	$18.4B+0.6%	$18.3B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$16.8B-0.9%	$16.9B+0.4%	$16.8B+0.7%	$16.7B0.0%	$16.7B+0.1%	$16.7B-0.1%	$16.7B+0.2%	$16.7B
Total Equity	$27.7B+2.4%	$27.0B+1.6%	$26.6B+0.3%	$26.5B+3.2%	$25.7B+1.2%	$25.4B+0.6%	$25.3B+4.5%	$24.2B
Retained Earnings	$2.6B+11.9%	$2.4B+20.9%	$2.0B+4.6%	$1.9B+30.5%	$1.4B+27.5%	$1.1B+16.3%	$965.8M+48.0%	$652.4M

VICI Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$2.4B+9.2%	$2.2B+12.2%	$1.9B+116.8%	$896.4M+1.4%	$883.6M+29.5%	$682.2M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	$2.7M
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	$679.4M
Investing Cash Flow	-$922.8M+68.2%	-$2.9B+68.8%	-$9.3B-22546.9%	$41.4M+100.9%	-$4.5B-234.1%	-$1.4B
Financing Cash Flow	-$1.5B-241.2%	$1.0B-84.9%	$6.8B+1428.3%	-$514.2M-117.9%	$2.9B+143.5%	$1.2B
Dividends Paid	$1.8B+10.7%	$1.6B+29.9%	$1.2B+60.7%	$758.8M+23.9%	$612.2M+21.5%	$504.0M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$586.3M-8.4%	$639.9M+8.1%	$591.9M-8.1%	$644.1M+4.8%	$614.6M+13.0%	$543.7M-5.7%	$576.5M+4.4%	$552.1M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$50.1M+84.8%	-$329.8M+14.5%	-$385.6M-48.2%	-$260.2M+16.6%	-$311.9M-185.7%	-$109.2M+88.6%	-$954.2M-30.0%	-$734.1M
Financing Cash Flow	-$261.8M+36.4%	-$411.6M-3.8%	-$396.8M-84.6%	-$214.9M+51.3%	-$441.2M+6.5%	-$471.8M-221.2%	$389.3M+954.2%	-$45.6M
Dividends Paid	$456.8M0.0%	$456.9M-0.5%	$459.0M+1.4%	$452.7M+4.6%	$432.8M-0.5%	$434.8M+3.0%	$422.1M+10.2%	$382.9M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

VICI Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	99.3%+0.0pp	99.3%+0.1pp	99.1%+0.5pp	98.6%+0.1pp	98.6%+0.7pp	97.9%
Operating Margin	N/A	N/A	N/A	N/A	26.2%+20.4pp	5.8%
Net Margin	69.6%0.0pp	69.6%+26.6pp	43.0%-24.2pp	67.2%-5.6pp	72.8%+11.7pp	61.0%
Return on Equity	10.1%+0.1pp	10.0%+4.9pp	5.1%-3.3pp	8.4%-1.1pp	9.5%+2.6pp	6.9%
Return on Assets	5.9%+0.2pp	5.7%+2.7pp	3.0%-2.8pp	5.8%+0.5pp	5.2%+1.1pp	4.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.63-0.0	0.66+0.0	0.63+0.2	0.39-0.3	0.72+0.1	0.60
FCF Margin	N/A	N/A	N/A	N/A	N/A	75.9%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	99.3%0.0pp	99.3%-0.0pp	99.4%+0.0pp	99.3%+0.0pp	99.3%-0.0pp	99.3%+0.2pp	99.1%-0.2pp	99.3%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	75.6%-10.8pp	86.4%+31.2pp	55.2%-7.7pp	63.0%-14.5pp	77.5%+15.4pp	62.0%-18.2pp	80.2%+18.7pp	61.5%
Return on Equity	2.8%-0.5pp	3.2%+1.2pp	2.0%-0.3pp	2.3%-0.6pp	2.9%+0.6pp	2.3%-0.6pp	3.0%+0.7pp	2.3%
Return on Assets	1.6%-0.2pp	1.9%+0.7pp	1.2%-0.2pp	1.4%-0.3pp	1.7%+0.3pp	1.3%-0.4pp	1.7%+0.4pp	1.3%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.61-0.0	0.630.0	0.630.0	0.63-0.0	0.650.0	0.660.0	0.66-0.0	0.69
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Vici Pptys's annual revenue?

Vici Pptys (VICI) reported $3.8B in total revenue for fiscal year 2024. This represents a 6.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Vici Pptys's revenue growing?

Vici Pptys (VICI) revenue grew by 6.6% year-over-year, from $3.6B to $3.8B in fiscal year 2024.

Is Vici Pptys profitable?

Yes, Vici Pptys (VICI) reported a net income of $2.7B in fiscal year 2024, with a net profit margin of 69.6%.

What is Vici Pptys's earnings per share (EPS)?

Vici Pptys (VICI) reported diluted earnings per share of $2.56 for fiscal year 2024. This represents a 3.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

How much debt does Vici Pptys have?

As of fiscal year 2024, Vici Pptys (VICI) had $524.6M in cash and equivalents against $16.7B in long-term debt.

What is Vici Pptys's gross margin?

Vici Pptys (VICI) had a gross margin of 99.3% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Vici Pptys's net profit margin?

Vici Pptys (VICI) had a net profit margin of 69.6% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Does Vici Pptys pay dividends?

Yes, Vici Pptys (VICI) paid $1.70 per share in dividends during fiscal year 2024.

What is Vici Pptys's return on equity (ROE)?

Vici Pptys (VICI) has a return on equity of 10.1% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Vici Pptys's operating cash flow?

Vici Pptys (VICI) generated $2.4B in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Vici Pptys's total assets?

Vici Pptys (VICI) had $45.4B in total assets as of fiscal year 2024, including both current and long-term assets.

How many shares does Vici Pptys have outstanding?

Vici Pptys (VICI) had 1.06B shares outstanding as of fiscal year 2024.

What is Vici Pptys's debt-to-equity ratio?

Vici Pptys (VICI) had a debt-to-equity ratio of 0.63 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Vici Pptys's return on assets (ROA)?

Vici Pptys (VICI) had a return on assets of 5.9% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Vici Pptys's Piotroski F-Score?

Vici Pptys (VICI) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Vici Pptys's earnings high quality?

Vici Pptys (VICI) has an earnings quality ratio of 0.89x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.