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VICI Properties Valuation Multiples

Discover revenue and EBITDA valuation multiples for VICI Properties and similar public comparables like Shurgard, HSI Renda Imobiliária, and Scentre Group.

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

United States of America
Employees

27

Financials

LTM Revenue $3.9B

LTM EBITDA $3.2B

EV

$51.8B

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VICI Properties Financials

VICI Properties has a last 12-month revenue (LTM) of $3.9B and a last 12-month EBITDA of $3.2B.

In the most recent fiscal year, VICI Properties achieved revenue of $3.8B and an EBITDA of $3.6B.

VICI Properties expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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VICI Properties P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $3.9B XXX $3.8B XXX XXX XXX
Gross Profit $3.9B XXX $3.8B XXX XXX XXX
Gross Margin 99% XXX 99% XXX XXX XXX
EBITDA $3.2B XXX $3.6B XXX XXX XXX
EBITDA Margin 81% XXX 93% XXX XXX XXX
EBIT $3.6B XXX $3.5B XXX XXX XXX
EBIT Margin 93% XXX 92% XXX XXX XXX
Net Profit $2.7B XXX $2.7B XXX XXX XXX
Net Margin 69% XXX 70% XXX XXX XXX
Net Debt XXX XXX $16.2B XXX XXX XXX

Financial data powered by Morningstar, Inc.

VICI Properties Stock Performance

As of July 31, 2025, VICI Properties's stock price is $33.

VICI Properties has current market cap of $34.4B, and EV of $51.8B.

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VICI Properties Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$51.8B $34.4B XXX XXX XXX XXX $2.61

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VICI Properties Valuation Multiples

As of July 31, 2025, VICI Properties has market cap of $34.4B and EV of $51.8B.

VICI Properties's trades at 13.5x EV/Revenue multiple, and 14.5x EV/EBITDA.

Equity research analysts estimate VICI Properties's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

VICI Properties has a P/E ratio of 12.8x.

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VICI Properties Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $34.4B XXX $34.4B XXX XXX XXX
EV (current) $51.8B XXX $51.8B XXX XXX XXX
EV/Revenue 13.2x XXX 13.5x XXX XXX XXX
EV/EBITDA 16.2x XXX 14.5x XXX XXX XXX
EV/EBIT 14.3x XXX 14.6x XXX XXX XXX
EV/Gross Profit 13.3x XXX n/a XXX XXX XXX
P/E 12.8x XXX 12.8x XXX XXX XXX
EV/FCF 24.0x XXX 21.8x XXX XXX XXX

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VICI Properties Margins & Growth Rates

VICI Properties's last 12 month revenue growth is 3%

VICI Properties's revenue per employee in the last FY averaged $143M, while opex per employee averaged $10.3M for the same period.

VICI Properties's rule of 40 is 96% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

VICI Properties's rule of X is 88% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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VICI Properties Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 3% XXX 3% XXX XXX XXX
EBITDA Margin 81% XXX 93% XXX XXX XXX
EBITDA Growth 4% XXX -2% XXX XXX XXX
Rule of 40 96% XXX 95% XXX XXX XXX
Bessemer Rule of X XXX XXX 88% XXX XXX XXX
Revenue per Employee XXX XXX $143M XXX XXX XXX
Opex per Employee XXX XXX $10.3M XXX XXX XXX
S&M Expenses to Revenue XXX XXX n/a XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX n/a XXX XXX XXX
Opex to Revenue XXX XXX 7% XXX XXX XXX

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VICI Properties Public Comps

See public comps and valuation multiples for Buildings & Property comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Scentre Group XXX XXX XXX XXX XXX XXX
WOTSO Flexspace XXX XXX XXX XXX XXX XXX
Shurgard XXX XXX XXX XXX XXX XXX
HSI Renda Imobiliária XXX XXX XXX XXX XXX XXX
Segro XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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VICI Properties M&A and Investment Activity

VICI Properties acquired  XXX companies to date.

Last acquisition by VICI Properties was  XXXXXXXX, XXXXX XXXXX XXXXXX . VICI Properties acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by VICI Properties

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About 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 of America.
How many employees does VICI Properties have? As of today, VICI Properties has 27 employees.
Who is the CEO of VICI Properties? VICI Properties's CEO is Mr. Edward Baltazar Pitoniak.
Is VICI Properties publicy listed? Yes, VICI Properties is a public company listed on NYS.
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? Similar companies to VICI Properties include e.g. Scentre Group, WOTSO Flexspace, Shurgard, HSI Renda Imobiliária.
What is the current market cap of VICI Properties? VICI Properties's current market cap is $34.4B
What is the current revenue of VICI Properties? VICI Properties's last 12 months revenue is $3.9B.
What is the current revenue growth of VICI Properties? VICI Properties revenue growth (NTM/LTM) is 3%.
What is the current EV/Revenue multiple of VICI Properties? Current revenue multiple of VICI Properties is 13.2x.
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's last 12 months EBITDA is $3.2B.
What is VICI Properties's EBITDA margin? VICI Properties's last 12 months EBITDA margin is 81%.
What is the current EV/EBITDA multiple of VICI Properties? Current EBITDA multiple of VICI Properties is 16.2x.
What is the current FCF of VICI Properties? VICI Properties's last 12 months FCF is $2.2B.
What is VICI Properties's FCF margin? VICI Properties's last 12 months FCF margin is 55%.
What is the current EV/FCF multiple of VICI Properties? Current FCF multiple of VICI Properties is 24.0x.

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