VICI Properties (VICI)

Real Estate · REIT - Diversified · S&P 500
$22.73 +0.89% on the day Market cap $24.6B 52-week range $22.42 to $32.33 Prices as of Oct 7, 2026

What the price implies

A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.

VICI Properties's free cash flow isn't comparable to its market value here, so a cash-flow reverse DCF doesn't give a meaningful answer. The Modeling tab works from revenue and margins instead.

Fundamental grade

C

Five factors scored 1 to 9 from VICI's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.

Valuation8
Profitability6
Growth2
Financial health5

Key numbers

P/E (trailing)7.83x
P/E (forward)8.01x
Price / free cash flow9.81x
EV / EBITDA11.6x
Price / sales6.01x
Price / book0.89x
Revenue growth+5.7%
Operating margin—
Net margin67.5%
Return on equity9.5%
Dividend yield7.8%
Debt / equity0.64x

Results from SEC filings

Fiscal years, from VICI Properties's 10-K filings. The deep dive has 15+ years, quarters and every line.

Fiscal year20212022202320242025
Revenue$1.5B$2.6B$3.6B$3.8B$4.0B
Net income$1.0B$1.1B$2.5B$2.7B$2.8B
Free cash flow—————
EPS (diluted)$1.76$1.27$2.47$2.56$2.61
Operating margin95.0%61.9%92.4%92.0%91.1%

Where the revenue comes from

Revenue by segments, fiscal 2021.

Real Property Business Segment$1.5B98%
Golf Course Business$31M2%

Superinvestors who own VICI

From each investor's latest 13F filing (what a 13F shows). 3 of the investors we track hold it.

InvestorLast quarterValue% of portfolioQuarter
Cliff Asness
AQR Capital Management
Trimmed $163M0.06%Q2 2026
Joel Greenblatt
Gotham Asset Management
Added $48M0.11%Q2 2026
Mario Gabelli
GAMCO Investors
Added $26M0.24%Q2 2026

Insider buying

Open-market purchases by VICI Properties's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.

DateInsiderSharesPriceValue
Mar 23, 2026 Ro Khanna
0$27.03—
Mar 23, 2026 Ro Khanna
0$27.03—
Feb 24, 2026 Ro Khanna
0$30.26—
Feb 24, 2026 Ro Khanna
0$30.26—
Jan 9, 2026 Gilbert Ray Cisneros, Jr.
0$27.77—
Jan 9, 2026 Gilbert Ray Cisneros, Jr.
0$27.77—
Dec 19, 2025 Gilbert Ray Cisneros, Jr.
0$27.70—
Dec 19, 2025 Gilbert Ray Cisneros, Jr.
0$27.70—
Oct 7, 2025 Ro Khanna
0$31.97—
Oct 7, 2025 Ro Khanna
0$31.97—

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In the full deep dive

DCF fair value per share
Yearly return (IRR) at today's price
Growth implied by revenue and margins
15+ years of statements and quarters

Questions

Are VICI Properties insiders buying the stock?

10 open-market insider purchases of VICI in the last 12 months, from SEC Form 4 filings.

Which superinvestors own VICI Properties?

3 of the superinvestors Investingly tracks hold VICI in their latest 13F, including Cliff Asness, Joel Greenblatt, Mario Gabelli.

Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.