| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 77 | 9.6x | 17.8x | Top tier | |
Growth | 41 | 4.4% | 7.1% | Around median | |
Quality | 75 | 8.1% | 4.5% | Top tier | |
Safety | 55 | 4.6x | 2.6x | Around median | |
Capital Return | 71 | 7.25% | 2.12% | Top tier | |
Momentum | 15 | -21.7% | 2.9% | Bottom tier | |
Sentiment | 72 | 5 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
VICI Properties is a real estate investment trust specializing in entertainment, hospitality, and gaming assets, generating its income primarily from long-term leases with operators, alongside loans, financing solutions, and funding for the development of partners’ properties. On July 30, 2026, its portfolio included 16 tenants following the addition of Clairvest, Golden Entertainment, and Club Med, while its asset base included properties in Las Vegas, regional gaming markets, Canada, and a resort undergoing redevelopment in St. Croix.
In Q2 fiscal 2026, revenue reached $1.1 billion, up 5.7% year over year, and reported gross profit was $1.1 billion, equal to revenue after rounding. Meanwhile, net income was $526.5 million, representing a net margin of approximately 48%, and net income attributable to shareholders declined 39.1% year over year. GAAP earnings per share were $0.48, compared with net income of $872.4 million and earnings per share of $0.82 in Q1 fiscal 2026.
Adjusted funds from operations, or AFFO, per share were $0.62 in Q2 fiscal 2026, up 4.6% from $0.60 in the corresponding quarter of fiscal 2025, and the result was in line with Visible Alpha expectations. The quarter’s growth mix included a $1.16 billion sale-leaseback transaction with Golden Entertainment, the acquisition of Gamehost properties in Alberta for approximately C$200 million, and a targeted Club Med investment totaling approximately $75 million.
The analyst consensus is “Buy,” with an average target of $30.22, within a range of $27 to $34; the average is approximately 10.9% below the 52-week range high of $33.915, while the highest target slightly exceeds that high. The breadth of the targets compared with the 52-week range low of $25.75 reveals differing assessments of the impact of expected AFFO growth of 3.4% versus the 39.1% decline in net income in Q2 fiscal 2026 and the credit risks associated with certain borrowers.
Figures in the text are as of 2026-08-28; the live price is shown at the top of the page.
Revenue reached $1.1 billion, up 5.7% year over year, and reported gross profit was $1.1 billion after rounding. Net income reached $526.5 million and earnings per share were $0.48, while net income attributable to shareholders declined 39.1%. AFFO per share increased 4.6% to $0.62, in line with Visible Alpha estimates.
The company expects AFFO between $2.675 billion and $2.695 billion in fiscal 2026. This equates to a range of $2.45 to $2.47 per diluted share after raising the lower end by $0.01. The midpoint represents expected annual growth of 3.4% and excludes future acquisitions or pending transactions without an announced closing date.
The transaction represents VICI’s first build-to-suit investment and its first real estate acquisition in the Caribbean. The company funded the acquisition of Carambola Beach Resort in St. Croix with $20.3 million and will fund approximately $55 million of redevelopment, bringing the targeted investment to approximately $75 million. Club Med is targeting the operation of the resort under the Exclusive Collection brand beginning in Q4 fiscal 2027.
Automated analysis for informational purposes only — not investment advice.
Total debt was $17.2 billion as of June 30, 2026, and net debt to annualized adjusted EBITDA was approximately 4.9 times, below the target range of 5.0–5.5 times. The weighted average interest rate was 4.45% after hedging, with a weighted average maturity of 5.5 years. Liquidity was also $2.5 billion as of June 30, 2026, and the company completed a $1.75 billion bond offering on August 14, 2026.
In Q2 fiscal 2026, the company modified a $90 million secured loan, equivalent to approximately 3% of the loan portfolio, by extending its maturity and lowering its interest rate. In return, it obtained additional collateral and amortization payments, while interest continued to be paid in cash each month. There is also a separate loan, disclosed in Q4 fiscal 2025, on non-accrual status.
The analyst consensus is “Buy,” with an average target of $30.22, a highest target of $34, and a lowest target of $27. The average falls within the 52-week range of $25.75–$33.915 and is approximately 10.9% below its high, while the highest target slightly exceeds the high. This consensus balances expected AFFO per-share growth of 3.4% in fiscal 2026 against the 39.1% decline in net income in Q2 fiscal 2026.
