FN2 Earnings Intelligence
VICI Properties Inc. financials
VICI Properties Inc. (VICI) financial statements and key operating metrics from FN2 Research.
Key Stats
USD in millions, except per-share values and percentages.
| Metric | 12/31/2021 | 12/31/2022 | 12/31/2023 | 12/31/2024 | 12/31/2025 | 12/31/2026 est. | 12/31/2027 est. |
|---|---|---|---|---|---|---|---|
| Market Cap | - | - | - | - | - | - | - |
| - Cash | $739.6 | $208.9 | $522.6 | $524.6 | $563.5 | - | - |
| + Debt | - | - | - | - | - | - | - |
| Enterprise Value | - | - | - | - | - | - | - |
| Revenue | $1,509.6 | $2,600.7 | $3,612 | $3,849.2 | $4,006.1 | $4,159.3 | $4,310.6 |
| % Growth | 23.2% | 72.3% | 38.9% | 6.6% | 4.1% | 3.8% | 3.6% |
| Gross Profit | $1,488.8 | $2,578.1 | $3,584.9 | $3,822.3 | $3,979.4 | - | - |
| % Margin | 98.6% | 99.1% | 99.2% | 99.3% | 99.3% | - | - |
| EBITDA | - | - | - | - | - | - | - |
| % Margin | - | - | - | - | - | - | - |
| Net Income | $1,013.9 | $1,117.6 | $2,513.5 | $2,678.8 | $2,775.5 | - | - |
| % Margin | 67.2% | 43.0% | 69.6% | 69.6% | 69.3% | - | - |
| Diluted EPS | $1.76 | $1.27 | $2.47 | $2.56 | $2.61 | $2.95 | $2.94 |
| % Growth | 0.6% | -27.8% | 94.5% | 3.6% | 2.0% | 12.9% | -0.2% |
| Operating Cash Flow | $896.4 | $1,943.4 | $2,181 | $2,381.5 | $2,510 | - | - |
| CapEx | $2.5 | $1.9 | $4 | $7.5 | $1.3 | - | - |
| Free Cash Flow | $893.8 | $1,941.5 | $2,177 | $2,374 | $2,508.7 | - | - |
Historical market capitalization is not persisted, so Market Cap and Enterprise Value remain unavailable rather than mixing today's market value into prior periods.
Income Statement
USD in millions, except per-share values and percentages.
| Metric | 12/31/2021 | 12/31/2022 | 12/31/2023 | 12/31/2024 | 12/31/2025 | 12/31/2026 est. | 12/31/2027 est. |
|---|---|---|---|---|---|---|---|
| Revenue | $1,509.6 | $2,600.7 | $3,612 | $3,849.2 | $4,006.1 | $4,159.3 | $4,310.6 |
| Gross Profit | $1,488.8 | $2,578.1 | $3,584.9 | $3,822.3 | $3,979.4 | - | - |
| EBITDA | - | - | - | - | - | - | - |
| Net Income | $1,013.9 | $1,117.6 | $2,513.5 | $2,678.8 | $2,775.5 | - | - |
| Diluted EPS | $1.76 | $1.27 | $2.47 | $2.56 | $2.61 | $2.95 | $2.94 |
Balance Sheet
USD in millions, except per-share values and percentages.
| Metric | 12/31/2021 | 12/31/2022 | 12/31/2023 | 12/31/2024 | 12/31/2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $739.6 | $208.9 | $522.6 | $524.6 | $563.5 |
| Short-term Debt | - | - | - | - | - |
| Long-term Debt | $4,694.5 | $13,739.7 | $16,724.1 | $16,732.9 | $16,773.2 |
| Total Debt | - | - | - | - | - |
Cash Flow
USD in millions, except per-share values and percentages.
| Metric | 12/31/2021 | 12/31/2022 | 12/31/2023 | 12/31/2024 | 12/31/2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $896.4 | $1,943.4 | $2,181 | $2,381.5 | $2,510 |
| Capital Expenditure | $2.5 | $1.9 | $4 | $7.5 | $1.3 |
| Free Cash Flow | $893.8 | $1,941.5 | $2,177 | $2,374 | $2,508.7 |
Ratios
USD in millions, except per-share values and percentages.
| Metric | 12/31/2021 | 12/31/2022 | 12/31/2023 | 12/31/2024 | 12/31/2025 |
|---|---|---|---|---|---|
| Revenue Growth | 23.2% | 72.3% | 38.9% | 6.6% | 4.1% |
| Gross Margin | 98.6% | 99.1% | 99.2% | 99.3% | 99.3% |
| EBITDA Margin | - | - | - | - | - |
| Net Margin | 67.2% | 43.0% | 69.6% | 69.6% | 69.3% |
| FCF Margin | 59.2% | 74.7% | 60.3% | 61.7% | 62.6% |
| Diluted EPS Growth | 0.6% | -27.8% | 94.5% | 3.6% | 2.0% |