Vici Properties reports results on Wednesday 28 October, after the market closes. Revenue over the twelve months to Q2 2026 was $4.1 billion, up 4.4% on the year before.
Source: reported quarterly EPS and aggregated third-party estimates. Historical surprises are context, not a forecast.
View chart data
| Period | Reported EPS | Analysts' estimate |
|---|---|---|
| Sep '25 | $0.71 | $0.69 |
| Dec '25 | $0.57 | $0.70 |
| Mar '26 | $0.82 | $0.71 |
| Jun '26 | $0.48 | $0.71 |
What analysts expect
Analysts have been cutting their forecasts going into the report. The average EPS estimate for the quarter is $0.72, in a range from $0.72 to $0.72. The average revenue estimate for the quarter is $1.1 billion. Based on 24 analysts, the average full-year EPS estimate stands at $2.75, which would be up 5.0% on last year. That estimate has fallen 6.5% over the past 90 days. Of the analysts’ recommendations, 16 are positive, 9 neutral and 0 negative.
Earnings surprise model
The model estimates EPS could land below the analysts’ average estimate by 3.9%. Its estimated chance of an EPS beat is 50.0%, based on the last 4 quarters. The model shrinks the median recent surprise toward zero and uses a neutral prior for beat frequency; this small sample is a reference estimate, not company guidance.
Track record against estimates
The company reported EPS above the analysts’ average estimate in 2 of the last 4 quarters. Last quarter, EPS of $0.48 compared with an estimate of $0.71, below it by 31.8%.
The trends going in
That growth rate was up 0.3 percentage points on the rate a quarter earlier. The trailing gross margin was 99.3%, while the trailing net margin stood at 67.5%. Net income over the twelve months was $2.8 billion, rising 0.3% on the year before.
Cash flow
Cash generation improved. Operating cash flow over the twelve months was $2.6 billion, up 7.5% on the year before. Capital spending was $1.3 million, or 0.0% of revenue. Free cash flow, operating cash flow less capital spending, reached $2.6 billion, up 7.6% on the year before. The free-cash-flow margin stood at 64.4% of revenue, up 1.9 percentage points from a year earlier. The average diluted share count rose 1.8% over the year.
In context
Measured against its own history: today’s free-cash-flow margin of 64.4% is higher than 58% of the company’s own past quarterly readings, which have ranged from 53.2% to 78.5%. Today’s twelve-month revenue growth rate of 4.4% is higher than 19% of past readings (−0.4% to 97.3%).
Questions this report will answer
Whether the pick-up in revenue growth continues. Whether results land above or below the analysts’ expectations set out above. At the same time, whether margins hold at the trailing levels above. The next filing will show whether the trends above continue, slow or reverse.
What it means for our valuation
These trends feed directly into what the shares are worth in our model. In our model, growth 5 percentage points lower would lower the value by 34.6%, and 5 percentage points higher would raise it by 45.4%. A free-cash-flow margin 1 percentage point lower would lower it by 1.7%.
