Broadstone Net Lease, Inc. (BNL) vs VICI Properties Inc. (VICI)

Broadstone Net Lease, Inc. and VICI Properties Inc. are both Reit Diversified companies. VICI Properties Inc. is the larger, with a market value of $25.8B against $3.6B — 7.1× the size. VICI Properties Inc. trades at the lower P/E: 9.1× against 24.9×. Broadstone Net Lease, Inc. grew revenue faster over the last twelve months: 7.68% against 4.36%. VICI Properties Inc. has the higher net margin (67.5% vs 30.6%) and the higher return on invested capital (4.93% vs 3.12%). Both pay a dividend; Broadstone Net Lease, Inc. yields more (6.92% vs 5.42%). Across the 22 metrics below, VICI Properties Inc. leads on 18 and Broadstone Net Lease, Inc. on 4.

Valuation

Metric BNL VICI Reit Diversified median
P/E 24.88 9.11 23.72
P/S 7.57 6.26 3.28
P/B 1.20 0.87 0.87
Price to free cash flow n/m 9.71 9.21
EV/EBITDA 12.70 11.44 11.57
EV/Sales 10.58 10.28 6.64
Earnings yield 4.02% 10.97% 1.04%
Free cash flow yield (10.64%) 10.30% 0.16%

Profitability

Metric BNL VICI Reit Diversified median
Gross margin 94.86% 100.00% 77.09%
Operating margin 46.61% 88.72% 33.33%
Net margin 30.61% 67.50% 2.62%
Free cash flow margin (80.55%) 64.44% 3.11%
Return on equity 4.82% 9.70% 3.13%
Return on assets 2.60% 5.86% 0.35%
Return on invested capital 3.12% 4.93% 2.80%

Growth

Metric BNL VICI Reit Diversified median
Revenue growth (TTM) 7.68% 4.36% 5.49%
EPS growth (last fiscal year) (41.86%) 1.95% —
Revenue growth, 5-year CAGR 7.14% 26.73% 4.83%
Net income growth, 5-year CAGR 13.52% 25.50% 0.00%

Health

Metric BNL VICI Reit Diversified median
Debt to equity 0.48 0.57 1.13
Current ratio 0.07 1.98 1.47
Net debt to EBITDA 3.48 4.33 5.88

Dividend

Metric BNL VICI Reit Diversified median
Dividend yield 6.92% 5.42% 7.13%
Payout ratio 1.24 0.70 1.37

Size

Metric BNL VICI Reit Diversified median
Market cap 3.63b 25.75b 729.58m

Compare with another peer

Any metric, up to five companies and an Excel export Powerpack