Vici Properties income statement
In fiscal 2025, Vici Properties reported revenue of $4.01bn, up 4.1% on the year before and net income of $2.78bn, or $2.61 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 188 | 898 | 895 | 1,226 | 1,510 | 2,601 | 3,612 | 3,849 | 4,006 | 4,156 |
| Cost of revenue | — | 17 | 19 | 18 | 21 | 23 | 27 | 27 | 27 | 28 |
| Gross profit | — | 881 | 876 | 1,208 | 1,489 | 2,578 | 3,585 | 3,822 | 3,979 | 4,128 |
| General and administrative | — | 24 | 25 | 31 | 33 | 48 | 60 | 69 | 65 | 68 |
| Operating income | 144 | 140 | 52 | 321 | — | — | — | — | — | — |
| Interest expense | 63 | 213 | 248 | 309 | 392 | 540 | 818 | 826 | 844 | 845 |
| Income before tax | 43 | 534 | 556 | 897 | 1,026 | 1,139 | 2,548 | 2,731 | 2,821 | 2,384 |
| Income tax | −2 | 1 | 2 | 1 | 3 | 3 | −6 | 10 | 2 | 2 |
| Net income | 45 | 524 | 546 | 892 | 1,014 | 1,118 | 2,514 | 2,679 | 2,775 | 2,346 |
| Diluted EPS | — | $1.43 | $1.24 | $1.75 | $1.76 | $1.27 | $2.47 | $2.56 | $2.61 | $2.17 |
| Diluted shares (average) | — | 367m | 439m | 511m | 577m | 880m | 1,016m | 1,048m | 1,063m | 1,082m |
| EBITDA | 145 | 144 | 56 | 325 | — | — | — | — | — | — |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 976 | 984 | 1,001 | 1,007 | 1,013 | 1,019 | 1,059 | 1,065 |
| Cost of revenue | 7 | 6 | 7 | 7 | 7 | 6 | 7 | 7 |
| Gross profit | 969 | 978 | 995 | 1,001 | 1,006 | 1,012 | 1,051 | 1,059 |
| General and administrative | 21 | 15 | 15 | 16 | 19 | 16 | 15 | 17 |
| Interest expense | 208 | 209 | 214 | 210 | 210 | 209 | 210 | 215 |
| Income before tax | 627 | 550 | 884 | 778 | 610 | 890 | 535 | 349 |
| Income tax | 2 | −2 | 6 | 4 | −5 | 4 | −0 | 3 |
| Net income | 615 | 544 | 865 | 762 | 605 | 872 | 527 | 343 |
| Diluted EPS | $0.58 | $0.51 | $0.82 | $0.71 | $0.56 | $0.82 | $0.48 | $0.31 |
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