Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $188M | $898M | $895M | $1.23B | $1.51B | $2.60B | $3.61B | $3.85B | $4.01B |
| Revenue growth | — | — | 378.6% | -0.4% | 37.0% | 23.2% | 72.3% | 38.9% | 6.6% | 4.1% |
| Operating income | — | $144M | $140M | $52.3M | $321M | — | — | — | — | — |
| Operating margin | — | 76.9% | 15.6% | 5.8% | 26.2% | — | — | — | — | — |
| Net income | — | $44.5M | $524M | $546M | $892M | $1.01B | $1.12B | $2.51B | $2.68B | $2.78B |
| Net margin | — | 23.7% | 58.3% | 61.0% | 72.8% | 67.2% | 43.0% | 69.6% | 69.6% | 69.3% |
| EPS (diluted) | — | — | $1.43 | $1.24 | $1.75 | $1.76 | $1.27 | $2.47 | $2.56 | $2.61 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | — | — | $504M | $682M | $884M | $896M | $1.94B | $2.18B | $2.38B | $2.51B |
| Capital expenditures | — | — | $899K | $2.72M | — | — | — | — | — | — |
| Free cash flow | — | — | $503M | $679M | — | — | — | — | — | — |
| Dividends paid | — | — | $263M | $504M | $612M | $759M | $1.22B | $1.58B | $1.75B | $1.85B |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | — | $184M | $578M | $1.10B | $316M | $740M | $209M | $523M | $525M | $563M |
| Total assets | $4.86B | $9.74B | $11.3B | $13.3B | $17.1B | $17.6B | $37.6B | $44.1B | $45.4B | $46.7B |
| Total liabilities | — | $4.96B | $4.43B | $5.22B | $7.57B | $5.41B | $15.3B | $18.4B | $18.4B | $18.5B |
| Long-term debt | — | $4.12B | $4.12B | $4.79B | $6.77B | $4.69B | $13.7B | $16.7B | $16.7B | $16.8B |
| Shareholders' equity | — | $4.69B | $6.82B | $7.97B | $9.42B | $12.1B | $21.9B | $25.3B | $26.5B | $27.8B |
| Retained earnings | — | $42.7M | $187M | $208M | $139M | $346M | $93.2M | $966M | $1.87B | $2.77B |
| Shares (wtd avg diluted) | — | 300M | 367M | 439M | 511M | 577M | 880M | 1.02B | 1.05B | 1.06B |
Every figure is extracted from VICI PROPERTIES INC.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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