VICI Properties Inc
VICI Properties Inc. is an S&P 500 experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality, wellness, entertainment and leisure destinations, including Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas, three of the most iconic entertainment facilities on the Las Vegas Strip. VICI Properties owns 93 experiential a… Read more
VICI Properties Inc (VICI) - Net Assets
Latest net assets as of September 2025: $28.10 Billion USD
Based on the latest financial reports, VICI Properties Inc (VICI) has net assets worth $28.10 Billion USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($46.54 Billion) and total liabilities ($18.44 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $28.10 Billion |
| % of Total Assets | 60.38% |
| Annual Growth Rate | 89.51% |
| 5-Year Change | 183.89% |
| 10-Year Change | N/A |
| Growth Volatility | 1744.47 |
VICI Properties Inc - Net Assets Trend (2015–2024)
This chart illustrates how VICI Properties Inc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for VICI Properties Inc (2015–2024)
The table below shows the annual net assets of VICI Properties Inc from 2015 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $26.95 Billion | +5.04% |
| 2023-12-31 | $25.66 Billion | +15.11% |
| 2022-12-31 | $22.29 Billion | +82.90% |
| 2021-12-31 | $12.19 Billion | +28.37% |
| 2020-12-31 | $9.49 Billion | +17.95% |
| 2019-12-31 | $8.05 Billion | +16.63% |
| 2018-12-31 | $6.90 Billion | +44.48% |
| 2017-12-31 | $4.78 Billion | +5576.48% |
| 2016-12-31 | $84.14 Million | -1.44% |
| 2015-12-31 | $85.38 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to VICI Properties Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 3591053.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $1.87 Billion | 7.04% |
| Common Stock | $10.56 Million | 0.04% |
| Other Comprehensive Income | $144.57 Million | 0.54% |
| Other Components | $24.52 Billion | 92.38% |
| Total Equity | $26.54 Billion | 100.00% |
VICI Properties Inc Competitors by Market Cap
The table below lists competitors of VICI Properties Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Sunbelt Rentals Holdings, Inc.
NYSE:SUNB
|
$30.50 Billion |
|
Ameren Corp
NYSE:AEE
|
$30.51 Billion |
|
Sungrow Power Supply Co Ltd
SHE:300274
|
$30.82 Billion |
|
BLOCK INC. CDI/1/1
F:F8O
|
$30.83 Billion |
|
Assicurazioni Generali S.p.A
PINK:ARZGF
|
$30.45 Billion |
|
KKR & Co. Inc.
PINK:KKRDP
|
$30.45 Billion |
|
Deutsche Boerse AG
LSE:0H3T
|
$30.41 Billion |
|
ENBMF
OTCGREY:ENBMF
|
$30.39 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in VICI Properties Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 25,255,931,000 to 26,537,955,000, a change of 1,282,024,000 (5.1%).
- Net income of 2,678,810,000 contributed positively to equity growth.
- Dividend payments of 1,752,991,000 reduced retained earnings.
- Share repurchases of 5,341,000 reduced equity.
- New share issuances of 378,687,000 increased equity.
- Other comprehensive income decreased equity by 9,296,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $2.68 Billion | +10.09% |
| Dividends Paid | $1.75 Billion | -6.61% |
| Share Repurchases | $5.34 Million | -0.02% |
| Share Issuances | $378.69 Million | +1.43% |
| Other Comprehensive Income | $-9.30 Million | -0.04% |
| Other Changes | $-7.84 Million | -0.03% |
| Total Change | $- | 5.08% |
Book Value vs Market Value Analysis
This analysis compares VICI Properties Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.13x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 120.94x to 1.13x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2015-12-31 | $0.24 | $28.62 | x |
| 2016-12-31 | $0.23 | $28.62 | x |
| 2017-12-31 | $14.32 | $28.62 | x |
| 2018-12-31 | $18.56 | $28.62 | x |
| 2019-12-31 | $18.14 | $28.62 | x |
| 2020-12-31 | $18.43 | $28.62 | x |
| 2021-12-31 | $20.98 | $28.62 | x |
| 2022-12-31 | $24.93 | $28.62 | x |
| 2023-12-31 | $24.86 | $28.62 | x |
| 2024-12-31 | $25.33 | $28.62 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently VICI Properties Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 10.09%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 69.59%
- • Asset Turnover: 0.08x
- • Equity Multiplier: 1.71x
- Recent ROE (10.09%) is above the historical average (6.20%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2015 | 0.00% | 0.02% | 0.20x | 1.08x | $-8.53 Million |
| 2016 | 3.60% | 16.13% | 0.21x | 1.08x | $-5.38 Million |
| 2017 | 0.91% | 21.18% | 0.02x | 2.08x | $-426.49 Million |
| 2018 | 7.68% | 58.31% | 0.08x | 1.66x | $-158.13 Million |
| 2019 | 6.85% | 61.02% | 0.07x | 1.67x | $-250.55 Million |
| 2020 | 9.47% | 72.76% | 0.07x | 1.81x | $-49.91 Million |
| 2021 | 8.37% | 67.16% | 0.09x | 1.45x | $-196.98 Million |
| 2022 | 5.10% | 42.97% | 0.07x | 1.71x | $-1.08 Billion |
| 2023 | 9.95% | 69.59% | 0.08x | 1.74x | $-12.05 Million |
| 2024 | 10.09% | 69.59% | 0.08x | 1.71x | $25.01 Million |
Industry Comparison
This section compares VICI Properties Inc's net assets metrics with peer companies in the REIT - Diversified industry.
Industry Context
- Industry: REIT - Diversified
- Average net assets among peers: $1,431,457,758
- Average return on equity (ROE) among peers: 3.70%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| VICI Properties Inc (VICI) | $28.10 Billion | 0.00% | 0.66x | $30.46 Billion |
| American Assets Trust Inc (AAT) | $189.17 Million | -3.71% | 4.13x | $997.50 Million |
| Armada Hflr Pr (AHH) | $-37.40 Million | 0.00% | 0.00x | $449.55 Million |
| Armada Hoffler Properties, Inc. (AHRT-PA) | $805.18 Million | 1.03% | 2.18x | $1.76 Billion |
| Precinct Properties New Zealand Limited (AOTUF) | $390.30 Million | 1.91% | 0.25x | $1.05 Billion |
| Artis REIT (ARESF) | $4.10 Million | 0.00% | 1.29x | $228.58 Million |
| Ascott Residence Trust (ATTRF) | $3.13 Billion | 4.71% | 0.70x | $1.70 Billion |
| Broadstone Net Lease Inc (BNL) | $1.28 Billion | 4.27% | 1.01x | $3.74 Billion |
| British Land Company Plc (BRLAF) | $4.11 Billion | 3.88% | 1.12x | $5.24 Billion |
| Icade SA (CDMGF) | $1.16 Billion | 6.10% | 1.97x | $700.47 Million |
| Charter Hall Long WALE REIT (CHLWF) | $3.28 Billion | 18.86% | 0.43x | $1.19 Billion |