Sunday 1 November 2026 Export VICI’s income statement to Excel — free account

VICI Properties Inc.

VICI Properties Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.0 billion, up 4.08% from fiscal 2024.

Revenue: +5.71%
EPS: −41.5%
Free cash flow: +13.5%
Total debt: +0.05%

Quarter to June 2026, against a year earlier

24.46 0.06 −0.24%

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Market cap: $27.0B
P/E: 9.5×
Fwd P/E: 8.9×
Dividend yield: 7.41%
F-score: 6/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Filings

VICI Properties Inc. (VICI) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2021: revenue by segment, and margins
Real Property Business	1,479	97.98%
Golf Course Business	31	2.02%
Gross margin		100.00%
Operating margin		94.99%
Pre-tax margin		67.97%

Revenue by segment $m

Line	FY2021	FY2020	FY2019	FY2018	FY2017
Real Property Business	1,479 97.98%	1,202 98.06%	866 96.77%	871 96.97%	181 96.61%
Golf Course Business	31 2.02%	24 1.94%	29 3.23%	27 3.03%	6 3.39%
Revenue	1,510	1,226	895	898	188

Operating income by segment $m, and margin

	FY2021	FY2020	FY2019	FY2018	FY2017
Real Property Business	‡	‡	‡	‡	‡
Golf Course Business	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
AFFO a share	Q3 FY2026	$0.62	$0.60	+3.33%
Experiential assets	Q3 FY2026	103.00	93.00	+10.75%
FFO a share	Q3 FY2026	$0.31	$0.71	−56.34%
Gaming properties	Q3 FY2026	63.00	54.00	+16.67%
Hotel rooms	Q3 FY2026	66.0K	60.3K	+9.45%
Other experiential properties	Q3 FY2026	40.00	39.00	+2.56%
Portfolio square feet	Q3 FY2026	130.0M	127.0M	+2.36%
Restaurants, bars, nightclubs and sportsbooks	Q3 FY2026	700.00	500.00	+40.00%
Undeveloped and underdeveloped land	Q3 FY2026	33.00	33.00	0.00%

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023
AFFO a share	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Experiential assets	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
FFO a share	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Gaming properties	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Hotel rooms	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Other experiential properties	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Portfolio square feet	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Restaurants, bars, nightclubs and sportsbooks	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Undeveloped and underdeveloped land	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.