VICI Properties Inc.

NYSE:VICI Stock Report

Market Cap: US$31.5b

VICI Properties Valuation

Is VICI undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of VICI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
US$70.33
Fair Value
57.2% undervalued intrinsic discount
23
Number of Analysts

Below Fair Value: VICI ($30.13) is trading below our estimate of fair value ($70.33)

Significantly Below Fair Value: VICI is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for VICI?

Key metric: As VICI is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for VICI. This is calculated by dividing VICI's market cap by their current earnings.
What is VICI's PE Ratio?
PE Ratio11.3x
EarningsUS$2.81b
Market CapUS$31.54b

Price to Earnings Ratio vs Peers

How does VICI's PE Ratio compare to its peers?

The above table shows the PE ratio for VICI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average19.2x
GLPI Gaming and Leisure Properties
17.4x4.7%US$13.9b
LAMR Lamar Advertising
25.3x10.2%US$12.9b
EPR EPR Properties
20.6x4.7%US$3.6b
OUT OUTFRONT Media
13.6x-21.4%US$3.1b
VICI VICI Properties
11.3x2.1%US$31.5b

Price-To-Earnings vs Peers: VICI is good value based on its Price-To-Earnings Ratio (11.3x) compared to the peer average (19.2x).

Price to Earnings Ratio vs Industry

How does VICI's PE Ratio compare vs other companies in the US Specialized REITs Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
SLVS Silver Star Properties REIT
0.4xn/aUS$25.91m
No more companies available in this PE range
VICI 11.3xIndustry Avg. 25.3xNo. of Companies3PE01632486480+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: VICI is good value based on its Price-To-Earnings Ratio (11.3x) compared to the US Specialized REITs industry average (25.3x).

Price to Earnings Ratio vs Fair Ratio

What is VICI's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

VICI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio11.3x
Fair PE Ratio33.9x

Price-To-Earnings vs Fair Ratio: VICI is good value based on its Price-To-Earnings Ratio (11.3x) compared to the estimated Fair Price-To-Earnings Ratio (33.9x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst VICI forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$30.13
US$35.51
+17.9%
7.3%US$43.00US$32.00n/a23
Jan ’26US$29.21
US$35.90
+22.9%
7.7%US$43.00US$32.00n/a22
Dec ’25US$32.61
US$35.73
+9.6%
7.7%US$43.00US$31.00n/a23
Nov ’25US$31.44
US$35.90
+14.2%
7.5%US$43.00US$31.00n/a23
Oct ’25US$32.77
US$35.86
+9.4%
7.6%US$43.00US$31.00n/a23
Sep ’25US$33.48
US$35.68
+6.6%
7.7%US$43.00US$31.00n/a23
Aug ’25US$31.34
US$35.12
+12.1%
7.7%US$43.00US$31.00n/a23
Jul ’25US$27.90
US$35.08
+25.7%
7.7%US$43.00US$31.00n/a23
Jun ’25US$28.71
US$35.21
+22.6%
7.9%US$43.00US$31.00n/a23
May ’25US$28.90
US$35.60
+23.2%
8.4%US$43.00US$31.00n/a23
Apr ’25US$29.60
US$35.91
+21.3%
8.1%US$43.00US$31.00n/a23
Mar ’25US$29.58
US$36.00
+21.7%
7.9%US$43.00US$32.00n/a23
Feb ’25US$31.05
US$36.13
+16.4%
8.0%US$43.00US$32.00US$29.7723
Jan ’25US$31.88
US$35.58
+11.6%
8.4%US$43.00US$30.00US$29.2123
Dec ’24US$30.50
US$35.41
+16.1%
8.2%US$43.00US$30.00US$32.6122
Nov ’24US$27.87
US$35.55
+27.5%
8.0%US$43.00US$30.00US$31.4422
Oct ’24US$29.10
US$37.36
+28.4%
6.6%US$43.00US$32.00US$32.7721
Sep ’24US$30.99
US$37.43
+20.8%
6.8%US$43.00US$32.00US$33.4820
Aug ’24US$31.64
US$37.48
+18.4%
6.7%US$43.00US$32.00US$31.3420
Jul ’24US$31.43
US$37.83
+20.3%
6.5%US$43.00US$32.00US$27.9020
Jun ’24US$30.94
US$37.63
+21.6%
6.2%US$43.00US$32.00US$28.7120
May ’24US$33.78
US$37.68
+11.5%
6.0%US$43.00US$32.00US$28.9020
Apr ’24US$32.62
US$37.65
+15.4%
6.2%US$43.00US$32.00US$29.6020
Mar ’24US$33.70
US$37.95
+12.6%
7.8%US$46.00US$32.00US$29.5821
Feb ’24US$34.47
US$37.75
+9.5%
7.9%US$46.00US$32.00US$31.0521
Analyst Price Target
Consensus Narrative from 23 Analysts
US$35.51
Fair Value
15.2% undervalued intrinsic discount
23
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/02/06 23:01
End of Day Share Price 2025/02/06 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

VICI Properties Inc. is covered by 35 analysts. 15 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Wesley GolladayBaird
Richard HightowerBarclays
Keegan CarlBerenberg