Vici Properties

Real Estate Hotel & Resort REITs New York City, New York Last filing Feb 25, 2026 · FY2025

                    Revenue
                    FY2025
                
$4.0B
                    3y CAGR +15.5%
                    
                    P87
                    
                    +4.1%
                    
                    Net income
                    FY2025
                
$2.8B
                    Net margin +69.3%
                    
                    P93
                    
                    +3.6%
                    
                    Total assets
                    FY2025
                
$46.7B
                    ROA +5.9%
                    
                    P90
                    
                    +3.0%
                    
                    Operating cash flow
                    FY2025
                
$2.5B
                    
                    +5.4%

9 yrs · FY2017–FY2025 8 filed · 0 derived · 1 blank

1Y 3Y 5Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

25 accounts · 3 years

Total assets $46.7B

Total liabilities $18.5B

Shareholders equity $27.8B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	1.2%	1.2%	1.2%
Short Term Investments	0.1%	0.0%	0.0%
Prepaid Expenses	0.0%	0.0%	0.0%
Other Current Assets	2.2%	2.3%	2.3%
Property,Plant and Equipment	0.1%	0.2%	0.2%
Long Term Investments	0.1%	0.0%	0.0%
Deferred Tax Assets	0.0%	0.0%	0.0%
Other Noncurrent Assets	2.2%	2.3%	2.3%
Total Assets	100.0%	100.0%	100.0%
Liabilities
Accrued Liabilities	0.5%	0.5%	0.5%
Current Portion of Long Term Debt	35.9%	36.9%	38.0%
Other Current Liabilities	2.1%	2.2%	2.3%
Total Current Liabilities	39.6%	40.6%	41.8%
Long Term Debt	35.9%	36.9%	38.0%
Deferred Tax Liabilities	0.0%	0.0%	0.0%
Other Noncurrent Liabilities	2.1%	2.2%	2.3%
Total Liabilities	39.6%	40.6%	41.8%
Equity
Preferred Stock	0.0%	0.0%	0.0%
Common Stock	0.0%	0.0%	0.0%
Additional Paid In Capital	53.3%	54.0%	54.8%
Retained Earnings	5.9%	4.1%	2.2%
Accumulated Other Comprehensive Income	0.3%	0.3%	0.3%
Noncontrolling Interest	0.9%	0.9%	0.9%
Total Stockholders Equity	59.5%	58.5%	57.3%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

13 accounts · 3 years

Revenue $4.0B

Operating income Not reported

Net income $2.8B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	8.6%	8.5%	8.2%
Expenses Cost of Revenue	0.1%	0.1%	0.1%
Expenses Selling,General and Administrative	0.1%	0.2%	0.1%
Expenses Share Based Compensation	0.0%	0.0%	0.0%
Other Income Expense Interest Income	0.0%	0.0%	0.1%
Other Income Expense Income Before Tax	6.0%	6.0%	5.8%
Income Tax Income Tax Expense	0.0%	0.0%	-0.0%
net Income net Income	5.9%	5.9%	5.7%
net Income Comprehensive Income	5.9%	5.9%	5.6%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	2.3%	2.3%	2.3%
Earnings Per Share Weighted Average Shares Diluted	2.3%	2.3%	2.3%

Cash Flow Statement

Operating, investing, and financing flows

18 accounts · 3 years

Operating cash flow $2.5B

Investing cash flow $-904.8M

Financing cash flow $-1.6B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	5.9%	5.9%	5.7%
Operating Activities Depreciation and Amortization	0.0%	0.0%	0.0%
Operating Activities Stock Based Compensation	0.0%	0.0%	0.0%
Operating Activities Deferred Income Taxes	-0.0%	0.0%	-0.0%
Operating Activities Changes In Operating Assets and Liabilities	0.0%	-0.0%	-0.0%
Operating Activities net Cash From Operating Activities	5.4%	5.2%	5.0%
Investing Activities Business Acquisitions	0.0%	0.0%	2.9%
Investing Activities net Cash From Investing Activities	-1.9%	-2.0%	-6.6%
Financing Activities Proceeds From Debt	0.9%	0.2%	1.0%
Financing Activities Repayment of Debt	2.8%	4.0%	0.0%
Financing Activities Dividends Paid	4.0%	3.9%	3.6%
Financing Activities Proceeds From Stock Issuance	0.8%	0.8%	5.6%
Financing Activities Tax Withholding On Stock Based Compensation	0.0%	0.0%	0.0%
Financing Activities net Cash From Financing Activities	-3.4%	-3.2%	2.3%
Cash Reconciliation Effect of Exchange Rate On Cash	0.0%	0.0%	-0.0%
Cash Reconciliation net Change In Cash	0.1%	0.0%	0.7%
Cash Reconciliation Cash At Beginning of Period	1.2%	1.2%	1.2%
Cash Reconciliation Cash At End of Period	1.2%	1.2%	1.2%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+99.3%	+99.3%	+99.3%
Operating margin	—	—	—
Net margin	+69.3%	+69.6%	+69.6%
FCF margin	—	—	—
Growth
Revenue CAGR (3y)	+15.5%	+36.6%	+43.4%
Returns
ROE	+10.0%	+10.1%	+10.0%
ROA	+5.9%	+5.9%	+5.7%
ROIC	—	—	—
Liquidity
Current ratio	—	—	—
Quick ratio	—	—	—
Leverage
D/E	0.67x	0.69x	0.73x
Interest coverage	—	—	—
Efficiency
Asset turnover	0.09x	0.08x	0.08x
Cash conversion cycle	—	—	—

Valuation

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FY2025 fundamentals · no price

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Vici Properties

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