Gaming & Leisure Properties (GLPI) financial statements
Gaming & Leisure Properties reported revenue of $1.6B in fiscal 2025, up 7.6% a year over 9 years.
Net income was $825M and the operating margin 75.3%, against 58.0% in 2016.
The diluted share count rose 55% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Gaming & Leisure Properties's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $828M | $971M | $1.1B | $128M | $103M | $110M | $0 | $0 | $1.5B | $1.6B |
| Cost of revenue | — | — | — | $75M | $57M | $53M | $0 | $0 | — | — |
| Gross profit | — | — | — | $54M | $46M | $57M | $0 | $0 | — | — |
| Selling, general and admin | $71M | $63M | $71M | $65M | $69M | $61M | $51M | $56M | $60M | $63M |
| Operating income | $481M | $606M | $594M | $717M | $809M | $842M | $1.0B | $1.1B | $1.1B | $1.2B |
| Interest expense | $186M | $217M | $248M | $302M | $282M | $283M | $309M | $323M | $367M | $374M |
| Pre-tax income | $297M | $390M | $344M | $396M | $510M | $562M | $720M | $757M | $810M | $853M |
| Income tax | $8M | $10M | $5M | $5M | $4M | $28M | $17M | $2M | $2M | $2M |
| Net income | $289M | $381M | $340M | $391M | $506M | $534M | $685M | $734M | $785M | $825M |
| EPS (diluted) | $1.60 | $1.79 | $1.58 | $1.81 | $2.30 | $2.26 | $2.70 | $2.77 | $2.87 | $2.95 |
| Diluted shares | 181M | 213M | 215M | 216M | 220M | 236M | 254M | 265M | 274M | 280M |
| Gross margin | — | — | — | 41.8% | 45.0% | 51.6% | — | — | — | — |
| Operating margin | 58.0% | 62.3% | 56.2% | 558.8% | 785.7% | 767.4% | — | — | 73.8% | 75.3% |
| Net margin | 34.9% | 39.2% | 32.2% | 304.4% | 491.0% | 486.9% | — | — | 51.2% | 51.7% |
Balance sheet
Fiscal years, from Gaming & Leisure Properties's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $37M | $29M | $26M | $27M | $486M | $725M | $239M | $684M | $1.0B | $224M |
| Property, plant and equipment | $119M | $108M | $101M | $94M | $81M | $13M | — | — | — | — |
| Goodwill | $76M | $76M | $16M | $16M | $0 | — | — | — | — | — |
| Total assets | $7.4B | $7.2B | $8.6B | $8.4B | $9.0B | $10.7B | $10.9B | $11.8B | $13.1B | $12.9B |
| Long-term debt | $4.7B | — | — | — | — | — | — | — | — | — |
| Total liabilities | $4.9B | $4.8B | $6.3B | $6.4B | $6.4B | $7.3B | $6.8B | $7.3B | $8.4B | $7.9B |
| Shareholders' equity | $2.4B | $2.5B | $2.3B | $2.1B | $2.7B | $3.4B | $4.1B | $4.2B | $4.3B | $4.6B |
| Net debt | $4.6B | -$29M | -$26M | -$27M | -$486M | -$725M | -$239M | -$684M | -$463M | -$224M |
Cash flow
Fiscal years, from Gaming & Leisure Properties's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $514M | $599M | $654M | $750M | $428M | $804M | $920M | $1.0B | $1.1B | $1.1B |
| Capital spending | $330,000 | $78,000 | $20,000 | $0 | $474,000 | $14M | $159,000 | $67,000 | $134,000 | — |
| Free cash flow | $514M | $599M | $654M | $750M | $428M | $790M | $920M | $1.0B | $1.1B | — |
| Stock-based compensation | $18M | $16M | $11M | $16M | $20M | $17M | $20M | $23M | $24M | $21M |
| Dividends paid | $428M | $529M | $550M | $589M | $231M | $634M | $771M | $834M | $831M | $872M |
| Net borrowing | $2.2B | -$235M | $1.4B | -$138M | -$248,000 | $432M | -$847M | $493M | $1.1B | -$534M |
| Free cash flow margin | 62.1% | 61.6% | 62.0% | 584.4% | 415.2% | 720.1% | — | — | 70.0% | — |
| Dividends per share | $2.37 | $2.49 | $2.56 | $2.73 | $1.05 | $2.68 | $3.04 | $3.15 | $3.04 | $3.11 |
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What was Gaming & Leisure Properties's revenue in 2025?
$1.6B in fiscal 2025, from its 10-K filing.
From Gaming & Leisure Properties's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.