VICI Properties Inc
NYSE:VICI

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VICI Properties Inc
NYSE:VICI
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Price: 32.48 USD 0.34%
Market Cap: 34B USD
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Intrinsic Value

The intrinsic value of one VICI stock under the Base Case scenario is 42.86 USD. Compared to the current market price of 32.48 USD, VICI Properties Inc is Undervalued by 24%.

The Intrinsic Value is calculated as the average of DCF and Relative values:

VICI Intrinsic Value
42.86 USD
Undervaluation 24%
Intrinsic Value
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VICI Properties Inc

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Backtest Conclusion
Very Attractive
Current Valuation
+45%
Avg Valuation
-12%
Worst Valuation
-49%
Best Valuation
+45%

Stock is trading at its lowest valuation over the past 5 years.

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Fundamental Analysis

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Business Breakdown

VICI Properties Inc. has established itself as a formidable player in the real estate investment trust (REIT) sector, primarily focusing on casino and entertainment properties. Founded in 2017 as a spin-off from Caesars Entertainment, VICI holds a vast and diversified portfolio that includes landmark casinos and gaming destinations throughout major U.S. markets. The company employs a strategy of acquiring high-quality properties under long-term triple-net leases, allowing them to benefit from steady rental income while their tenants manage operational responsibilities. This model not only generates consistent cash flow but also positions VICI favorably in a sector known for its resilience an...

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Financials
Annual
Quarterly
TTM
Annual
Quarterly
TTM

Balance Sheet Decomposition
VICI Properties Inc

Current Assets 355.7m
Cash & Short-Term Investments 355.7m
Non-Current Assets 44.6B
Long-Term Investments 1.6B
PP&E 1.1B
Other Non-Current Assets 41.9B
Current Liabilities 707.7m
Accrued Liabilities 233.9m
Other Current Liabilities 473.8m
Non-Current Liabilities 18.1B
Long-Term Debt 17.6B
Other Non-Current Liabilities 507m
Efficiency

Earnings Waterfall
VICI Properties Inc

Revenue
3.8B USD
Cost of Revenue
-28.4m USD
Gross Profit
3.8B USD
Operating Expenses
-113.6m USD
Operating Income
3.7B USD
Other Expenses
-851m USD
Net Income
2.8B USD

Free Cash Flow Analysis
VICI Properties Inc

Last Value
3-Years Average
FCF Margin
Conversion Rate
Earnings Calls

VICI Properties announced a solid third quarter with an AFFO per share increase of 4.9%, reaching $0.57. The company’s total liquidity stands at approximately $2.9 billion. For 2024, VICI projects AFFO between $2.36 billion and $2.37 billion, translating to $2.25-$2.26 per share. They successfully deployed $230 million in capital this quarter and are optimistic about future opportunities in gaming and experiential sectors, particularly in Las Vegas. Their robust capital allocation strategy enables them to maintain a leverage ratio of 5.4x, aligning with their target range, positioning VICI well for continued growth and value creation.

What is Earnings Call?
Fundamental Scores

VICI Profitability Score
Profitability Due Diligence

VICI Properties Inc's profitability score is 57/100. The higher the profitability score, the more profitable the company is.

Positive Gross Profit
Exceptional 3-Years Revenue Growth
Positive Operating Income
Positive Net Income
57/100
Profitability
Score

VICI Properties Inc's profitability score is 57/100. The higher the profitability score, the more profitable the company is.

VICI Solvency Score
Solvency Due Diligence

VICI Properties Inc's solvency score is 34/100. The higher the solvency score, the more solvent the company is.

Long-Term Solvency
Low D/E
Short-Term Solvency
Low Altman Z-Score
34/100
Solvency
Score

VICI Properties Inc's solvency score is 34/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

VICI Price Targets Summary
VICI Properties Inc

Wall Street analysts forecast VICI stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for VICI is 36.38 USD with a low forecast of 31.31 USD and a high forecast of 45.15 USD.

Lowest
Price Target
31.31 USD
4% Downside
Average
Price Target
36.38 USD
12% Upside
Highest
Price Target
45.15 USD
39% Upside
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Dividends

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Dividend Per Share
N/A
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Dividend Safety Score
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0
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Shareholder Yield

Current shareholder yield for VICI is .

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Dividend Yield
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Debt Paydown Yield
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Ownership

VICI Insider Trading
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VICI News

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Profile

VICI Properties Inc Logo
VICI Properties Inc

Country

United States of America

Industry

Real Estate

Market Cap

34B USD

Dividend Yield

5.17%

Description

VICI Properties, Inc. is a real estate investment trust, which owns, acquires and develops gaming, hospitality and entertainment properties. The company is headquartered in New York City, New York and currently employs 152 full-time employees. The company went IPO on 2017-10-17. The firm is primarily engaged in the business of owning and acquiring gaming, hospitality, and entertainment destinations, subject to long-term triple net leases. The firm segments include real property business and golf course business. The real property business segment consists of leased real property and real estate lending activities. The golf course business segment consists of approximately four golf courses. Its national, geographically diverse portfolio consists of approximately 28 properties, including Caesars Palace Las Vegas, Harrah’s Las Vegas, and the Venetian Resort, three of the entertainment facilities on the Las Vegas Strip. Across 62 million square feet and features approximately 25,000 hotel rooms and approximately 250 restaurants, bars, nightclubs, and sportsbooks. The company owns approximately 34 acres of undeveloped or underdeveloped land on and adjacent to the Las Vegas Strip that is leased to Caesars.

Contact

NEW YORK
New York City
535 Madison Avenue, 20Th Floor
+16469494631.0
viciproperties.com

IPO

2017-10-17

Employees

152

Officers

CEO & Director
Mr. Edward Baltazar Pitoniak
President & COO
Mr. John W. R. Payne
Executive VP, CFO & Treasurer
Mr. David Andrew Kieske
Executive VP, General Counsel & Secretary
Ms. Samantha Sacks Gallagher
Senior VP & Chief Investment Officer
Mr. Kellan Florio
Senior VP, Chief Accounting Officer & MD of V.E.C.S.
Mr. Gabriel F. Wasserman
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Vice President of Accounting & Administration
Mr. Jeremy Waxman
Investor Relations of ICR Inc.
Mr. Jacques Cornet
Assistant General Counsel & Director of Compliance
Mr. Benjamin Somogyi
Director of People
Ms. Amanda Schumer
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See Also

Discover More
What is the Intrinsic Value of one VICI stock?

The intrinsic value of one VICI stock under the Base Case scenario is 42.86 USD.

Is VICI stock undervalued or overvalued?

Compared to the current market price of 32.48 USD, VICI Properties Inc is Undervalued by 24%.

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