VICI Properties Inc (VICI) FinancialsVICIFinancialVICI Properties Inc

VICI Properties Inc (VICI) generates its revenue through a diversified portfolio of business segments. Currently, the largest contributor to its top-line growth is Leasing revenue, accounting for 90.3% of total sales, equivalent to $956.05M. Other significant revenue streams include Income from loans and securities and Other income. Understanding this composition is critical for investors evaluating how VICI navigates market cycles within the Specialized REITs industry.

Evaluating the bottom line, VICI Properties Inc maintains a gross margin of 73.60%. This metric reflects the company's pricing power and manufacturing efficiency. Further down the income statement, the operating margin stands at 70.35%, while the net margin is 50.57%. These profitability ratios, combined with a Return on Equity (ROE) of 9.84%, provide a clear picture of how effectively VICI converts its operational activities into shareholder value.

In the context of the broader market, VICI competes directly with industry leaders such as EXR and CCI. With a market capitalization of $28.37B, it holds a significant position in the sector. When comparing efficiency, VICI's gross margin of 73.60% stands against EXR's 50.28% and CCI's 56.45%. Such benchmarking helps identify whether VICI Properties Inc is trading at a premium or discount relative to its financial performance.

VICI has shown strong revenue growth, with total revenue increasing from approximately $964 million in Q3 2024 to over $1.058 billion in Q2 2026. Despite some fluctuations in net income, the company has maintained a high gross margin, peaking at 113.45% in Q2 2025.