Empire State Realty Trust, Inc. (ESRT) vs VICI Properties Inc. (VICI)

Empire State Realty Trust, Inc. and VICI Properties Inc. are both Reit Diversified companies. VICI Properties Inc. is the larger, with a market value of $25.8B against $701.2M — 36.7× the size. VICI Properties Inc. trades at the lower P/E: 9.1× against 137×. VICI Properties Inc. grew revenue faster over the last twelve months: 4.36% against 2.04%. VICI Properties Inc. has the higher net margin (67.5% vs 0.39%) and the higher return on invested capital (4.93% vs −0.55%). Both pay a dividend; VICI Properties Inc. yields more (5.42% vs 1.44%). Across the 22 metrics below, VICI Properties Inc. leads on 19 and Empire State Realty Trust, Inc. on 3.

Valuation

Metric ESRT VICI Reit Diversified median
P/E 137.00 9.11 23.72
P/S 0.90 6.26 3.28
P/B 0.39 0.87 0.87
Price to free cash flow n/m 9.71 9.21
EV/EBITDA 15.77 11.44 11.57
EV/Sales 3.57 10.28 6.64
Earnings yield 0.73% 10.97% 1.04%
Free cash flow yield (42.83%) 10.30% 0.16%

Profitability

Metric ESRT VICI Reit Diversified median
Gross margin 74.65% 100.00% 77.09%
Operating margin (4.40%) 88.72% 33.33%
Net margin 0.39% 67.50% 2.62%
Free cash flow margin (38.40%) 64.44% 3.11%
Return on equity 0.17% 9.70% 3.13%
Return on assets 0.07% 5.86% 0.35%
Return on invested capital (0.55%) 4.93% 2.80%

Growth

Metric ESRT VICI Reit Diversified median
Revenue growth (TTM) 2.04% 4.36% 5.49%
EPS growth (last fiscal year) (10.71%) 1.95% —
Revenue growth, 5-year CAGR 4.75% 26.73% 4.83%
Net income growth, 5-year CAGR 0.00% 25.50% 0.00%

Health

Metric ESRT VICI Reit Diversified median
Debt to equity 1.24 0.57 1.13
Current ratio 1.32 1.98 1.47
Net debt to EBITDA 6.41 4.33 5.88

Dividend

Metric ESRT VICI Reit Diversified median
Dividend yield 1.44% 5.42% 7.13%
Payout ratio 0.48 0.70 1.37

Size

Metric ESRT VICI Reit Diversified median
Market cap 701.19m 25.75b 729.58m

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