Crown Castle Inc. (CCI) vs Gaming and Leisure Properties, Inc. (GLPI)

Crown Castle Inc. and Gaming and Leisure Properties, Inc. are both Reit Specialty companies. Crown Castle Inc. is the larger, with a market value of $28.7B against $11.2B — 2.6× the size. Gaming and Leisure Properties, Inc. trades at the lower P/E: 11.4× against 34.3×. Gaming and Leisure Properties, Inc. grew revenue faster over the last twelve months: 5.76% against −4.56%. Gaming and Leisure Properties, Inc. has the higher net margin (58.5% vs 20.7%) and the lower return on invested capital (6.47% vs 9.03%). Both pay a dividend; Gaming and Leisure Properties, Inc. yields more (6.68% vs 5.82%). Across the 22 metrics below, Gaming and Leisure Properties, Inc. leads on 15 and Crown Castle Inc. on 7.

Valuation

Metric CCI GLPI Reit Specialty median
P/E 34.26 11.37 26.27
P/S 7.06 6.69 5.86
P/B n/m 2.06 2.19
Price to free cash flow 12.21 17.65 14.62
EV/EBITDA 17.21 11.38 16.22
EV/Sales 11.14 11.42 8.93
Earnings yield 2.92% 8.80% 3.43%
Free cash flow yield 8.19% 5.67% 5.37%

Profitability

Metric CCI GLPI Reit Specialty median
Gross margin 73.73% 100.00% 67.43%
Operating margin 47.66% 82.55% 21.38%
Net margin 20.72% 58.53% 16.14%
Free cash flow margin 57.82% 37.93% 31.07%
Return on equity (37.06%) 18.78% 4.76%
Return on assets 3.24% 7.27% 3.29%
Return on invested capital 9.03% 6.47% 4.19%

Growth

Metric CCI GLPI Reit Specialty median
Revenue growth (TTM) (4.56%) 5.76% 5.36%
EPS growth (last fiscal year) 111.25% 2.79% —
Revenue growth, 5-year CAGR (6.10%) 6.70% 6.70%
Net income growth, 5-year CAGR (14.97%) 10.29% 0.00%

Health

Metric CCI GLPI Reit Specialty median
Debt to equity (5.58) 1.51 0.62
Current ratio 0.52 4.74 0.70
Net debt to EBITDA 8.60 4.70 4.47

Dividend

Metric CCI GLPI Reit Specialty median
Dividend yield 5.82% 6.68% 3.88%
Payout ratio 1.57 0.98 1.14

Size

Metric CCI GLPI Reit Specialty median
Market cap 28.72b 11.21b 8.48b

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