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VICI Properties Inc (VICI) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

REAL ESTATE · Hotel & Resort REITs · DATA UPDATED 2026-09-18

VICI Properties Inc (VICI) operates in the Hotel & Resort REITs industry and is headquartered in New York, United States with about 28 employees. Its market capitalization is roughly $26 billion. In the fiscal year ended 2025-12-31, VICI reported $4.0B in revenue and $2.8B in net income.

VICI Properties Inc. is an S&P 500 experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality, wellness, entertainment and leisure destinations, including Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas, three of the most iconic

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VICI Revenue & Earnings History — Annual Income Statement

Income statementTTM → 2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-312014-12-31
Total Revenue$4.1B$4.0B$3.8B$3.6B$2.6B$1.5B$1.2B$895M$898M$201M$19M$18M$19M
Gross Profit$4.1B$4.0B$3.8B$3.6B$2.6B$1.5B$1.2B$876M$799M$168M$5M$5M$5M
Gross Margin %99.3%99.3%99.3%99.2%99.1%98.6%97.3%97.9%89.0%83.2%26.9%25.8%25.6%
Operating Income (EBIT)$3.6B$3.7B$3.5B$3.3B$1.6B$1.4B$913M$842M$758M$144M$0M$0M$0M
Operating Margin %88.8%91.2%92.1%92.6%62.8%95.7%74.5%94.2%84.4%71.6%0.0%0.1%0.2%
Net Income$2.8B$2.8B$2.7B$2.5B$1.1B$1.0B$892M$546M$524M$43M$3M$0M$0M
Net Margin %67.5%69.3%69.6%69.6%43.0%67.2%72.8%61.0%58.3%21.2%16.1%0.0%0.0%
EBITDA$3.7B$3.7B$3.6B$3.4B$1.7B$1.4B$1.2B$808M$750M$109M$3M$3M$3M
Earnings Per Share (EPS)$2.58$2.61$2.56$2.47$1.27$1.76$1.75$1.24$1.43$0.13$0.01$0.00$0.00
Shares Outstanding (M)1,090M1,063M1,048M1,016M880M577M511M439M367M328M361M361M361M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

VICI Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement2026-06-302026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-30
Total Revenue$1.1B$1.0B$1.0B$1.0B$1.0B$984M$976M$965M
Gross Profit$1.1B$1.0B$1.0B$1.0B$995M$978M$969M$958M
Gross Margin %99.3%99.4%99.3%99.3%99.3%99.4%99.3%99.3%
Operating Income (EBIT)$745M$1.1B$814M$984M$1.1B$756M$834M$953M
Operating Margin %70.3%107.5%80.3%97.7%110.0%76.8%85.4%98.8%
Net Income$527M$872M$605M$762M$865M$544M$615M$733M
Net Margin %49.7%85.7%59.7%75.6%86.4%55.2%63.0%76.0%
EBITDA$746M$1.1B$821M$989M$1.1B$760M$836M$955M
Earnings Per Share (EPS)$0.48$0.82$0.57$0.71$0.82$0.51$0.58$0.70
Shares Outstanding (M)1,090M1,069M1,061M1,068M1,057M1,056M1,056M1,048M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

VICI Free Cash Flow History

Cash flowTTM → 2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-312014-12-31
Cash from Operations (CFO)$2.6B$2.5B$2.4B$2.2B$1.9B$896M$884M$682M$504M$132M$3M$3M$3M
Capital Expenditures (CapEx)$2M$1M$8M$4M$2M$3M$3M$3M$1M$2M$1M$1M$0M
Free Cash Flow (FCF)$2.6B$2.5B$2.4B$2.2B$1.9B$894M$881M$679M$503M$130M$2M$2M$3M
FCF Margin %64.3%62.6%61.7%60.3%74.7%59.2%71.9%75.9%56.0%64.4%9.9%11.6%16.2%
Dividends Paid$1.9B$1.9B$1.8B$1.6B$1.2B$759M$612M$504M$263M$263M$263M$263M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

VICI Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow2026-06-302026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-30
Cash from Operations (CFO)$728M$632M$692M$586M$640M$592M$644M$579M
Capital Expenditures (CapEx)$1M$1M$0M$1M$1M$0M$1M$1M
Free Cash Flow (FCF)$728M$631M$692M$585M$639M$592M$643M$578M
FCF Margin %68.7%62.0%68.3%58.1%63.8%60.1%65.9%59.9%
Dividends Paid$481M$481M$481M$457M$457M$459M$453M$433M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

VICI Balance Sheet History

Balance sheet2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-31
Total Assets$48.3B$46.7B$45.4B$44.1B$37.6B$17.6B$17.1B$13.3B$11.3B$9.7B$90M$92M
Cash & Cash Equivalents$288M$563M$525M$523M$209M$740M$316M$1.1B$578M$184M$1M$0M
Total Liabilities$18.7B$18.5B$18.4B$18.4B$15.3B$5.4B$7.6B$5.2B$4.4B$5.0B$6M$7M
Total Debt (Short + Long-Term)$18.7B$16.8B$18.1B$17.8B$13.8B$4.7B$13.5B$9.6B$4.2B$5.1B$0M$0M
Total Shareholders' Equity$29.2B$27.8B$26.5B$25.3B$22.3B$12.2B$9.5B$8.0B$6.9B$4.8B$84M$85M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive VICI viewer.

VICI Metric Deep Dives

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