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

Year-over-year change per cell; first column has no prior.

Balance Sheet

Assets, liabilities, and equity

25 accounts · 5 years

Total assets $46.7B

Total liabilities $18.5B

Shareholders equity $27.8B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	+7.4%	+0.4%	+150.1%	-71.8%	—
Short Term Investments	—	—	-100.0%	—	—
Prepaid Expenses	+5.1%	-4.1%	-35.7%	+100.8%	—
Other Current Assets	+0.8%	+1.5%	+8.4%	+120.5%	—
Property,Plant and Equipment	-3.3%	+5.1%	-0.4%	-1.9%	—
Long Term Investments	—	—	-100.0%	—	—
Deferred Tax Assets	+62.6%	-37.8%	—	—	—
Other Noncurrent Assets	+0.8%	+1.5%	+8.4%	+120.5%	—
Total Assets	+3.0%	+3.0%	+17.3%	+113.5%	—
Liabilities
Accrued Liabilities	+9.5%	-4.1%	+6.5%	+88.0%	—
Current Portion of Long Term Debt	+0.2%	+0.1%	+21.7%	+192.7%	—
Other Current Liabilities	-0.1%	-0.9%	+6.4%	+153.4%	—
Total Current Liabilities	+0.5%	+0.1%	+20.4%	+182.5%	—
Long Term Debt	+0.2%	+0.1%	+21.7%	+192.7%	—
Deferred Tax Liabilities	+73.6%	-15.4%	+3.8%	+11.9%	—
Other Noncurrent Liabilities	-0.1%	-0.9%	+6.4%	+153.4%	—
Total Liabilities	+0.5%	+0.1%	+20.4%	+182.5%	—
Equity
Preferred Stock	—	—	—	—	—
Common Stock	+1.2%	+1.3%	+8.3%	+53.1%	—
Additional Paid In Capital	+1.6%	+1.6%	+11.5%	+84.1%	—
Retained Earnings	+48.2%	+93.4%	+936.7%	-73.1%	—
Accumulated Other Comprehensive Income	-16.3%	-6.0%	-17.0%	+20867.5%	—
Noncontrolling Interest	+2.7%	+3.0%	+12.7%	+351.8%	—
Total Stockholders Equity	+4.7%	+5.1%	+15.1%	+81.1%	—
Total Liabilitiesand Equity	+3.0%	+3.0%	+17.3%	+113.5%	—

Income Statement

Revenue, expense, and profitability

13 accounts · 5 years

Revenue $4.0B

Operating income Not reported

Net income $2.8B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	+4.1%	+6.6%	+38.9%	+72.3%	—
Expenses Cost of Revenue	-0.6%	-0.7%	+19.9%	+8.9%	—
Expenses Selling,General and Administrative	-5.8%	+15.9%	+23.3%	+45.9%	—
Expenses Share Based Compensation	-7.5%	+12.7%	+19.6%	+38.6%	—
Other Income Expense Interest Income	-10.8%	-32.9%	+151.5%	+7841.7%	—
Other Income Expense Income Before Tax	+3.3%	+7.2%	+123.7%	+11.0%	—
Income Tax Income Tax Expense	-74.9%	+258.0%	-313.5%	-0.4%	—
net Income net Income	+3.6%	+6.6%	+124.9%	+10.2%	—
net Income Comprehensive Income	+3.1%	+7.6%	+90.6%	+17.6%	—
Earnings Per Share Basic Eps	+2.0%	+3.2%	+95.3%	-29.4%	—
Earnings Per Share Diluted Eps	+2.0%	+3.6%	+94.5%	-27.8%	—
Earnings Per Share Weighted Average Shares Basic	+1.5%	+3.2%	+15.6%	+55.5%	—
Earnings Per Share Weighted Average Shares Diluted	+1.4%	+3.1%	+15.5%	+52.4%	—

Cash Flow Statement

Operating, investing, and financing flows

18 accounts · 5 years

Operating cash flow $2.5B

Investing cash flow $-904.8M

Financing cash flow $-1.6B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	+3.6%	+6.6%	+124.9%	+10.2%	—
Operating Activities Depreciation and Amortization	-11.8%	-4.0%	+35.1%	+2.9%	—
Operating Activities Stock Based Compensation	-7.5%	+12.7%	+19.6%	+38.6%	—
Operating Activities Deferred Income Taxes	-132.0%	+152.2%	-2366.5%	+32.9%	—
Operating Activities Changes In Operating Assets and Liabilities	+196.6%	-15.4%	-122.3%	+159.3%	—
Operating Activities net Cash From Operating Activities	+5.4%	+9.2%	+12.2%	+116.8%	—
Investing Activities Business Acquisitions	—	-100.0%	-72.3%	—	—
Investing Activities net Cash From Investing Activities	+2.0%	+68.2%	+68.8%	-22546.9%	—
Financing Activities Proceeds From Debt	+418.3%	-80.4%	-30.1%	—	—
Financing Activities Repayment of Debt	-27.8%	—	—	—	—
Financing Activities Dividends Paid	+5.7%	+10.7%	+29.9%	+60.7%	—
Financing Activities Proceeds From Stock Issuance	-0.9%	-84.7%	-23.0%	+34.9%	—
Financing Activities Tax Withholding On Stock Based Compensation	+35.4%	+7.6%	-19.3%	+255.0%	—
Financing Activities net Cash From Financing Activities	-7.5%	-241.2%	-84.9%	+1428.3%	—
Cash Reconciliation Effect of Exchange Rate On Cash	-64.0%	+806.3%	—	—	—
Cash Reconciliation net Change In Cash	+1804.2%	-99.3%	+159.1%	-225.3%	—
Cash Reconciliation Cash At Beginning of Period	+7.4%	+0.4%	+150.1%	-71.8%	—
Cash Reconciliation Cash At End of Period	+7.4%	+0.4%	+150.1%	-71.8%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+99.3%	+99.3%	+99.3%	+99.1%	+98.6%
Operating margin	—	—	—	—	—
Net margin	+69.3%	+69.6%	+69.6%	+43.0%	+67.2%
FCF margin	—	—	—	—	—
Growth
Revenue CAGR (3y)	+15.5%	+36.6%	+43.4%	+42.7%	+18.9%
Returns
ROE	+10.0%	+10.1%	+10.0%	+5.1%	+8.4%
ROA	+5.9%	+5.9%	+5.7%	+3.0%	+5.8%
ROIC	—	—	—	—	—
Liquidity
Current ratio	—	—	—	—	—
Quick ratio	—	—	—	—	—
Leverage
D/E	0.67x	0.69x	0.73x	0.70x	0.45x
Interest coverage	—	—	—	—	—
Efficiency
Asset turnover	0.09x	0.08x	0.08x	0.07x	0.09x
Cash conversion cycle	—	—	—	—	—

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Vici Properties

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