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VICI Properties Valuation Multiples
Discover revenue and EBITDA valuation multiples for VICI Properties and similar public comparables like Iron Mountain, Extra Space Storage, Crown Castle, AvalonBay Communities and more.
VICI Properties Overview
About VICI Properties
VICI Properties Inc is a real estate investment trust based in the United States. It engaged in the business of owning and acquiring gaming, hospitality, wellness, entertainment and leisure destinations, subject to long-term triple net leases. It own nearly 93 experiential assets across a geographically portfolio consisting of nearly 54 gaming properties and nearly 39 other experiential properties across the United States and Canada, including Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas.
Founded
2016
HQ
Employees
28
Website
Sectors
Financials (LTM)
EV
$50B
VICI Properties Financials
VICI Properties reported last 12-month revenue of $4B and EBITDA of $3B.
In the same LTM period, VICI Properties generated $3B in EBITDA and $3B in net income.
Revenue (LTM)
VICI Properties P&L
In the most recent fiscal year, VICI Properties reported revenue of $4B and EBITDA of $4B.
VICI Properties expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $4B | XXX | $4B | XXX | XXX | XXX |
| Gross Profit | — | XXX | $4B | XXX | XXX | XXX |
| Gross Margin | — | XXX | 99% | XXX | XXX | XXX |
| EBITDA | $3B | XXX | $4B | XXX | XXX | XXX |
| EBITDA Margin | 82% | XXX | 92% | XXX | XXX | XXX |
| EBIT Margin | 92% | XXX | 91% | XXX | XXX | XXX |
| Net Profit | $3B | XXX | $3B | XXX | XXX | XXX |
| Net Margin | 70% | XXX | 69% | XXX | XXX | XXX |
| Net Debt | — | — | $16B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
VICI Properties Stock Performance
VICI Properties has current market cap of $32B, and enterprise value of $50B.
Market Cap Evolution
VICI Properties' stock price is $30.36.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $50B | $32B | 0.0% | XXX | XXX | XXX | $2.60 |
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Start Free TrialVICI Properties Valuation Multiples
VICI Properties trades at 12.3x EV/Revenue multiple, and 15.0x EV/EBITDA.
EV / Revenue (LTM)
VICI Properties Financial Valuation Multiples
As of March 31, 2026, VICI Properties has market cap of $32B and EV of $50B.
Equity research analysts estimate VICI Properties' 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
VICI Properties has a P/E ratio of 11.4x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $32B | XXX | $32B | XXX | XXX | XXX |
| EV (current) | $50B | XXX | $50B | XXX | XXX | XXX |
| EV/Revenue | 12.3x | XXX | 12.4x | XXX | XXX | XXX |
| EV/EBITDA | 15.0x | XXX | 13.5x | XXX | XXX | XXX |
| EV/EBIT | 13.3x | XXX | 13.6x | XXX | XXX | XXX |
| EV/Gross Profit | — | XXX | 12.5x | XXX | XXX | XXX |
| P/E | 11.4x | XXX | 11.7x | XXX | XXX | XXX |
| EV/FCF | 19.6x | XXX | 19.8x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified VICI Properties Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
VICI Properties Margins & Growth Rates
VICI Properties' revenue in the last 12 month grew by 2%.
VICI Properties' revenue per employee in the last FY averaged $143.1M, while opex per employee averaged $11.6M for the same period.
VICI Properties' rule of 40 is 85% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
VICI Properties' rule of X is 89% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
VICI Properties Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 2% | XXX | 2% | XXX | XXX | XXX |
| EBITDA Margin | 82% | XXX | 92% | XXX | XXX | XXX |
| EBITDA Growth | 3% | XXX | (7%) | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 85% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 89% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $143.1M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $11.6M | XXX | XXX | XXX |
| G&A Expenses to Revenue | 2% | XXX | 2% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 8% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
VICI Properties Public Comps
See public comps and valuation multiples for other Buildings & Property comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Iron Mountain | XXX | XXX | XXX | XXX | XXX | XXX |
| Extra Space Storage | XXX | XXX | XXX | XXX | XXX | XXX |
| Crown Castle | XXX | XXX | XXX | XXX | XXX | XXX |
| AvalonBay Communities | XXX | XXX | XXX | XXX | XXX | XXX |
| Equity Residential | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
VICI Properties M&A Activity
VICI Properties acquired XXX companies to date.
Last acquisition by VICI Properties was on XXXXXXXX, XXXXX. VICI Properties acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by VICI Properties
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialVICI Properties Investment Activity
VICI Properties invested in XXX companies to date.
VICI Properties made its latest investment on XXXXXXXX, XXXXX. VICI Properties invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by VICI Properties
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout VICI Properties
| When was VICI Properties founded? | VICI Properties was founded in 2016. |
| Where is VICI Properties headquartered? | VICI Properties is headquartered in United States. |
| How many employees does VICI Properties have? | As of today, VICI Properties has over 28 employees. |
| Who is the CEO of VICI Properties? | VICI Properties' CEO is Edward Baltazar Pitoniak. |
| Is VICI Properties publicly listed? | Yes, VICI Properties is a public company listed on NYSE. |
| What is the stock symbol of VICI Properties? | VICI Properties trades under VICI ticker. |
| When did VICI Properties go public? | VICI Properties went public in 2017. |
| Who are competitors of VICI Properties? | VICI Properties main competitors are Iron Mountain, Extra Space Storage, Crown Castle, AvalonBay Communities. |
| What is the current market cap of VICI Properties? | VICI Properties' current market cap is $32B. |
| What is the current revenue of VICI Properties? | VICI Properties' last 12 months revenue is $4B. |
| What is the current revenue growth of VICI Properties? | VICI Properties revenue growth (NTM/LTM) is 2%. |
| What is the current EV/Revenue multiple of VICI Properties? | Current revenue multiple of VICI Properties is 12.3x. |
| Is VICI Properties profitable? | Yes, VICI Properties is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of VICI Properties? | VICI Properties' last 12 months EBITDA is $3B. |
| What is VICI Properties' EBITDA margin? | VICI Properties' last 12 months EBITDA margin is 82%. |
| What is the current EV/EBITDA multiple of VICI Properties? | Current EBITDA multiple of VICI Properties is 15.0x. |
| What is the current FCF of VICI Properties? | VICI Properties' last 12 months FCF is $3B. |
| What is VICI Properties' FCF margin? | VICI Properties' last 12 months FCF margin is 63%. |
| What is the current EV/FCF multiple of VICI Properties? | Current FCF multiple of VICI Properties is 19.6x. |
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