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

Vici Pptys (VICI) reported diluted earnings per share of $2.61 for fiscal year 2025. This represents a 2.0% 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.

Vici Pptys Financials

VICI

Trailing 12 months to June 30, 2026

Revenue $4.1B +4.4% YoY

Net Income $2.8B +0.3% YoY

EPS (Diluted) $2.57 -1.5% YoY

Free Cash Flow Not reported for the trailing 12 months

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Jul 29, 2026 Currency USD FYE December

Vici Pptys (VICI) reported $4.1B in revenue over the twelve months to Jun 30, 2026, up 4.4% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 9 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).

Rhea AI VICI FY2025 2026-05-06

VICI’s asset-heavy model works because direct operating costs are tiny, leaving financing costs as the main economic friction.

From FY2022 to FY2025, total assets grew by about $9.1B while long-term debt was essentially flat, so recent expansion came with less incremental balance-sheet strain than the earlier step-up. That matters because operating cash flow reached $2.51B as debt-to-equity slipped to 0.6x, showing the larger asset base is being absorbed by cash generation rather than just by adding more borrowing.

In FY2025, cost of revenue plus SG&A stayed below $100M against more than $4B of revenue, which means day-to-day operating overhead is not the constraint. The real swing factor is how much of that income stream gets claimed by interest and capital structure, not by servicing the assets.

Operating cash flow of $2.51B covered dividends paid of $1.85B in FY2025, so shareholder distributions were supported by current cash generation rather than new financing. With financing cash flow negative in both FY2024 and FY2025, the payout has recently coexisted with balance-sheet self-funding instead of another debt build.

Financial Health Signals

Financial Health Score 49/100

Scored as: REITs peer group

Scored against REITs for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Vici Pptys's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

FFO Margin

FFO Growth

Leverage

Not available for Vici Pptys, and counted as zero in the overall score.

Interest Cov.

Not available for Vici Pptys, and counted as zero in the overall score.

AFFO Margin

Dividend Cov.

Piotroski F-Score Partial

6/8

Vici Pptys passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed

0.90x

For every $1 of reported earnings, Vici Pptys generates $0.90 in operating cash flow ($2.5B OCF vs $2.8B net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$4.0B

YoY+4.1%

5Y CAGR+26.7%

Vici Pptys generated $4.0B in revenue in fiscal year 2025. This represents an increase of 4.1% from the prior year.

Net Income

$2.8B

YoY+3.6%

5Y CAGR+25.5%

Vici Pptys reported $2.8B in net income in fiscal year 2025. This represents an increase of 3.6% from the prior year.

EPS (Diluted)

$2.61

YoY+2.0%

Vici Pptys earned $2.61 per diluted share (EPS) in fiscal year 2025. This represents an increase of 2.0% from the prior year.

EBITDA

Not reported for fiscal year 2025.

Cash & Balance Sheet

Cash & Debt

$563.5M

YoY+7.4%

5Y CAGR+12.3%

Vici Pptys held $563.5M in cash against $16.8B in long-term debt as of fiscal year 2025.

Dividends Per Share

$1.76

YoY+4.1%

Vici Pptys paid $1.76 per share in dividends in fiscal year 2025. This represents an increase of 4.1% from the prior year.

Shares Outstanding

1.07B

YoY+1.2%

Vici Pptys had 1.07B shares outstanding in fiscal year 2025. This represents an increase of 1.2% from the prior year.

Free Cash Flow

Not reported for fiscal year 2025.

Margins & Returns

Gross Margin

99.3%

YoY0.0pp

5Y CAGR+0.8pp

Vici Pptys's gross margin was 99.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. That is unchanged from the prior year.

Net Margin

69.3%

YoY-0.3pp

5Y CAGR-3.5pp

Vici Pptys's net profit margin was 69.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.3 percentage points from the prior year.

Return on Equity

10.0%

YoY-0.1pp

5Y CAGR+0.5pp

Vici Pptys's ROE was 10.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.1 percentage points from the prior year.

Operating Margin

Not reported for fiscal year 2025.

Capital Allocation

None of these metrics is reported for fiscal year 2025.

VICI Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

VICI quarterly income statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17
Revenue	$4.1B	$4.0B+4.1%	$3.8B+6.6%	$3.6B+38.9%	$2.6B+72.3%	$1.5B+23.2%	$1.2B+37.0%	$894.8M-0.4%	$898.0M+378.6%	$187.6M
Cost of Revenue	$27.6M	$26.7M-0.6%	$26.9M-0.7%	$27.1M+19.9%	$22.6M+8.9%	$20.8M+17.8%	$17.6M-6.7%	$18.9M+8.8%	$17.4M	N/A
Gross Profit	$4.1B	$4.0B+4.1%	$3.8B+6.6%	$3.6B+39.1%	$2.6B+73.2%	$1.5B+23.3%	$1.2B+37.9%	$875.9M-0.5%	$880.6M	N/A
SG&A Expenses	$67.1M	$65.1M-5.8%	$69.1M+15.9%	$59.6M+23.3%	$48.3M+45.9%	$33.1M+8.0%	$30.7M+24.8%	$24.6M+0.6%	$24.4M	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	$321.0M+513.8%	$52.3M-62.6%	$140.0M-2.9%	$144.2M
Interest Expense	$839.9M	$843.6M+2.1%	$826.1M+1.0%	$818.1M+51.5%	$540.0M+37.6%	$392.4M+27.1%	$308.6M+24.2%	$248.4M+16.8%	$212.7M+235.7%	$63.4M
Income Tax	$2.8M	$2.4M-74.9%	$9.7M+258.0%	-$6.1M-313.5%	$2.9M-0.4%	$2.9M+247.4%	$831K-51.3%	$1.7M+18.3%	$1.4M+175.8%	-$1.9M
Net Income	$2.8B	$2.8B+3.6%	$2.7B+6.6%	$2.5B+124.9%	$1.1B+10.2%	$1.0B+13.7%	$891.7M+63.3%	$546.0M+4.3%	$523.6M+1075.7%	$44.5M
EPS (Diluted)	$2.57	$2.61+2.0%	$2.56+3.6%	$2.47+94.5%	$1.27	$1.76+0.6%	$1.75+41.1%	$1.24-13.3%	$1.43	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$1.1B+3.9%	$1.0B+0.5%	$1.0B+0.6%	$1.0B+0.6%	$1.0B+1.7%	$984.2M+0.8%	$976.1M+1.2%	$964.7M
Cost of Revenue	$7.4M+14.3%	$6.5M-7.5%	$7.0M+3.4%	$6.8M+2.2%	$6.6M+4.2%	$6.4M-5.9%	$6.7M-1.1%	$6.8M
Gross Profit	$1.1B+3.9%	$1.0B+0.6%	$1.0B+0.5%	$1.0B+0.6%	$994.7M+1.7%	$977.9M+0.9%	$969.3M+1.2%	$957.8M
SG&A Expenses	$15.4M-3.4%	$16.0M-17.3%	$19.3M+18.2%	$16.3M+12.2%	$14.6M-2.0%	$14.9M-28.2%	$20.7M+25.7%	$16.5M
Interest Expense	$209.9M+0.3%	$209.4M-0.4%	$210.2M0.0%	$210.3M-1.6%	$213.8M+2.2%	$209.3M+0.5%	$208.1M+0.4%	$207.3M
Income Tax	-$461K-111.6%	$4.0M+187.2%	-$4.6M-217.3%	$3.9M-30.2%	$5.6M+326.5%	-$2.5M-200.4%	$2.4M-0.6%	$2.5M
Net Income	$526.5M-39.6%	$872.4M+44.3%	$604.8M-20.6%	$762.0M-11.9%	$865.1M+59.1%	$543.6M-11.6%	$614.6M-16.1%	$732.9M
EPS (Diluted)	$0.48-41.5%	$0.82+46.4%	$0.56-21.1%	$0.71-13.4%	$0.82+60.8%	$0.51-12.1%	$0.58-17.1%	$0.70

Not reported in any period shown, so not listed: R&D Expenses, Operating Income.

VICI Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

VICI quarterly balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17
Total Assets	$46.7B+3.0%	$45.4B+3.0%	$44.1B+17.3%	$37.6B+113.5%	$17.6B+3.1%	$17.1B+28.6%	$13.3B+17.0%	$11.3B+16.4%	$9.7B
Cash & Equivalents	$563.5M+7.4%	$524.6M+0.4%	$522.6M+150.1%	$208.9M-71.8%	$739.6M+134.1%	$316.0M-71.3%	$1.1B+90.7%	$577.9M+214.7%	$183.6M
Total Liabilities	$18.5B+0.5%	$18.4B+0.1%	$18.4B+20.4%	$15.3B+182.5%	$5.4B-28.5%	$7.6B+45.1%	$5.2B+17.7%	$4.4B-10.7%	$5.0B
Long-Term Debt	$16.8B+0.2%	$16.7B+0.1%	$16.7B+21.7%	$13.7B+192.7%	$4.7B-30.6%	$6.8B+41.2%	$4.8B+16.2%	$4.1B0.0%	$4.1B
Total Equity	$27.8B+4.7%	$26.5B+5.1%	$25.3B+15.1%	$21.9B+81.1%	$12.1B+28.6%	$9.4B+18.2%	$8.0B+16.8%	$6.8B+45.3%	$4.7B
Retained Earnings	$2.8B+48.2%	$1.9B+93.4%	$965.8M+936.7%	$93.2M-73.1%	$346.0M+148.1%	$139.5M-33.0%	$208.1M+11.2%	$187.1M+338.6%	$42.7M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$48.3B+2.5%	$47.1B+0.8%	$46.7B+0.4%	$46.5B+1.0%	$46.1B+1.2%	$45.5B+0.3%	$45.4B+1.0%	$44.9B
Cash & Equivalents	$288.1M-40.0%	$480.2M-14.8%	$563.5M+11.0%	$507.5M+117.8%	$233.0M-30.3%	$334.3M-36.3%	$524.6M+47.5%	$355.7M
Total Liabilities	$18.7B+1.1%	$18.5B-0.2%	$18.5B+0.3%	$18.4B-0.9%	$18.6B+0.6%	$18.5B+0.5%	$18.4B+0.1%	$18.4B
Long-Term Debt	$16.9B+0.9%	$16.8B+0.1%	$16.8B+0.1%	$16.8B-0.9%	$16.9B+0.4%	$16.8B+0.7%	$16.7B-0.1%	$16.7B
Total Equity	$29.2B+3.5%	$28.2B+1.4%	$27.8B+0.4%	$27.7B+2.4%	$27.0B+1.6%	$26.6B+0.3%	$26.5B+1.6%	$26.1B
Retained Earnings	$3.2B+1.0%	$3.2B+14.1%	$2.8B+4.7%	$2.6B+11.9%	$2.4B+20.9%	$2.0B+4.6%	$1.9B+9.1%	$1.7B

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities.

VICI Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

VICI quarterly cash flow statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17
Operating Cash Flow	$2.6B	$2.5B+5.4%	$2.4B+9.2%	$2.2B+12.2%	$1.9B+116.8%	$896.4M+1.4%	$883.6M+29.5%	$682.2M+35.3%	$504.1M	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$2.7M+203.0%	$899K	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$679.4M+35.0%	$503.2M	N/A
Investing Cash Flow	-$1.2B	-$904.8M+2.0%	-$922.8M+68.2%	-$2.9B+68.8%	-$9.3B-22546.9%	$41.4M+100.9%	-$4.5B-234.1%	-$1.4B-19.3%	-$1.1B	N/A
Financing Cash Flow	-$1.4B	-$1.6B-7.5%	-$1.5B-241.2%	$1.0B-84.9%	$6.8B+1428.3%	-$514.2M-117.9%	$2.9B+143.5%	$1.2B+14.0%	$1.0B	N/A
Dividends Paid	$1.9B	$1.9B+5.7%	$1.8B+10.7%	$1.6B+29.9%	$1.2B+60.7%	$758.8M+23.9%	$612.2M+21.5%	$504.0M+91.9%	$262.7M	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	$728.2M+15.2%	$631.9M-8.7%	$691.9M+18.0%	$586.3M-8.4%	$639.9M+8.1%	$591.9M-8.1%	$644.1M+11.2%	$579.1M
Investing Cash Flow	-$802.9M-260.2%	-$222.9M-60.0%	-$139.3M-178.0%	-$50.1M+84.8%	-$329.8M+14.5%	-$385.6M-48.2%	-$260.2M-7.7%	-$241.6M
Financing Cash Flow	-$117.2M+76.2%	-$492.1M+0.9%	-$496.3M-89.6%	-$261.8M+36.4%	-$411.6M-3.8%	-$396.8M-84.6%	-$214.9M+34.7%	-$329.3M
Dividends Paid	$480.9M-0.1%	$481.4M+0.1%	$480.7M+5.2%	$456.8M0.0%	$456.9M-0.5%	$459.0M+1.4%	$452.7M+4.6%	$432.7M

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Share Buybacks.

VICI Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

VICI quarterly financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17
Gross Margin	99.3%0.0pp	99.3%0.0pp	99.3%+0.1pp	99.1%+0.5pp	98.6%+0.1pp	98.6%+0.7pp	97.9%-0.2pp	98.1%	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	26.2%+20.4pp	5.8%-9.8pp	15.6%-61.3pp	76.9%
Net Margin	69.3%-0.3pp	69.6%0.0pp	69.6%+26.6pp	43.0%-24.2pp	67.2%-5.6pp	72.8%+11.7pp	61.0%+2.7pp	58.3%+34.6pp	23.7%
Return on Equity	10.0%-0.1pp	10.1%+0.1pp	10.0%+4.9pp	5.1%-3.3pp	8.4%-1.1pp	9.5%+2.6pp	6.9%-0.8pp	7.7%+6.7pp	0.9%
Return on Assets	5.9%0.0pp	5.9%+0.2pp	5.7%+2.7pp	3.0%-2.8pp	5.8%+0.5pp	5.2%+1.1pp	4.1%-0.5pp	4.6%+4.2pp	0.5%
Debt-to-Equity	0.600.0x	0.630.0x	0.660.0x	0.63+0.2x	0.39-0.3x	0.72+0.1x	0.600.0x	0.60-0.3x	0.88
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	75.9%+19.9pp	56.0%	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Gross Margin	99.3%-0.1pp	99.4%+0.1pp	99.3%0.0pp	99.3%0.0pp	99.3%0.0pp	99.4%0.0pp	99.3%0.0pp	99.3%
Net Margin	49.7%-35.9pp	85.7%+26.0pp	59.7%-15.9pp	75.6%-10.8pp	86.4%+31.2pp	55.2%-7.7pp	63.0%-13.0pp	76.0%
Return on Equity	1.8%-1.3pp	3.1%+0.9pp	2.2%-0.6pp	2.8%-0.5pp	3.2%+1.2pp	2.0%-0.3pp	2.3%-0.5pp	2.8%
Return on Assets	1.1%-0.8pp	1.8%+0.6pp	1.3%-0.4pp	1.6%-0.2pp	1.9%+0.7pp	1.2%-0.2pp	1.4%-0.3pp	1.6%
Debt-to-Equity	0.580.0x	0.600.0x	0.600.0x	0.610.0x	0.630.0x	0.630.0x	0.630.0x	0.64

Not reported in any period shown, so not listed: Operating Margin, Current Ratio, FCF Margin.

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Where Vici Pptys Ranks

Frequently Asked Questions

What is Vici Pptys's annual revenue?

Vici Pptys (VICI) reported $4.0B in total revenue for fiscal year 2025. This represents a 4.1% 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 4.1% year-over-year, from $3.8B to $4.0B in fiscal year 2025.

Is Vici Pptys profitable?

Yes, Vici Pptys (VICI) reported a net income of $2.8B in fiscal year 2025, with a net profit margin of 69.3%.

How much debt does Vici Pptys have?

As of fiscal year 2025, Vici Pptys (VICI) had $563.5M in cash and equivalents against $16.8B in long-term debt.

What is Vici Pptys's gross margin?

Vici Pptys (VICI) had a gross margin of 99.3% in fiscal year 2025, 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 69.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Vici Pptys pay dividends?

Yes, Vici Pptys (VICI) paid $1.76 per share in dividends during fiscal year 2025.

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

Vici Pptys (VICI) has a return on equity of 10.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Vici Pptys's operating cash flow?

Vici Pptys (VICI) generated $2.5B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Vici Pptys's total assets?

Vici Pptys (VICI) had $46.7B in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Vici Pptys have outstanding?

Vici Pptys (VICI) had 1.07B shares outstanding as of fiscal year 2025.

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

Vici Pptys (VICI) had a debt-to-equity ratio of 0.60 as of fiscal year 2025, 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 2025, 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 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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 0.90x, 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.

How financially healthy is Vici Pptys?

Vici Pptys (VICI) scores 49 out of 100 on our Financial Health Score, indicating moderate standing within its REITs peer group. The score is a 0-100 composite of six dimensions (FFO Margin, FFO Growth, Leverage, Interest Cov., AFFO Margin, Dividend Cov.), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.