VICI Properties Inc (VICI) - Net Assets
Based on the latest financial reports, VICI Properties Inc (VICI) has net assets worth $28.22 Billion USD as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($46.72 Billion) and total liabilities ($18.50 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. Check VICI asset resilience ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $28.22 Billion |
| % of Total Assets | 60.4% |
| Annual Growth Rate | 78.6% |
| 5-Year Change | 131.58% |
| 10-Year Change | 33441.22% |
| Growth Volatility | 1665.98 |
VICI Properties Inc - Net Assets Trend (2015–2025)
This chart illustrates how VICI Properties Inc's net assets have evolved over time, based on quarterly financial data. Also explore VICI Properties Inc assets under control for the complete picture of this company's asset base.
Annual Net Assets for VICI Properties Inc (2015–2025)
The table below shows the annual net assets of VICI Properties Inc from 2015 to 2025. For live valuation and market cap data, see VICI Properties Inc market cap and net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $28.22 Billion | +4.72% |
| 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 5321155.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $2.77 Billion | 9.95% |
| Common Stock | $10.69 Million | 0.04% |
| Other Comprehensive Income | $121.03 Million | 0.44% |
| Other Components | $24.90 Billion | 89.57% |
| Total Equity | $27.80 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 |
|---|---|
|
BeiGene, Ltd.
NASDAQ:ONC
|
$30.02 Billion |
|
Alcon AG
SW:ALC
|
$30.03 Billion |
|
Otis Worldwide Corp
NYSE:OTIS
|
$30.04 Billion |
|
Adani Enterprises Limited
NSE:ADANIENT
|
$30.06 Billion |
|
Extra Space Storage Inc
NYSE:EXR
|
$29.99 Billion |
|
Prudential plc
F:PRU2
|
$29.96 Billion |
|
United Airlines Holdings Inc
NASDAQ:UAL
|
$29.95 Billion |
|
Iron Mountain Incorporated
NYSE:IRM
|
$29.90 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 2024 to 2025, total equity changed from 26,537,955,000 to 27,797,640,000, a change of 1,259,685,000 (4.7%).
- Net income of 2,775,493,000 contributed positively to equity growth.
- Dividend payments of 1,853,467,000 reduced retained earnings.
- Share repurchases of 7,232,000 reduced equity.
- New share issuances of 375,349,000 increased equity.
- Other comprehensive income decreased equity by 23,543,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $2.78 Billion | +9.98% |
| Dividends Paid | $1.85 Billion | -6.67% |
| Share Repurchases | $7.23 Million | -0.03% |
| Share Issuances | $375.35 Million | +1.35% |
| Other Comprehensive Income | $-23.54 Million | -0.08% |
| Other Changes | $-6.92 Million | -0.02% |
| Total Change | $- | 4.75% |
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: 1.09x
- 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 120.77x to 1.09x 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 | $28.58 | x |
| 2016-12-31 | $0.23 | $28.58 | x |
| 2017-12-31 | $14.58 | $28.58 | x |
| 2018-12-31 | $18.79 | $28.58 | x |
| 2019-12-31 | $18.33 | $28.58 | x |
| 2020-12-31 | $18.58 | $28.58 | x |
| 2021-12-31 | $21.12 | $28.58 | x |
| 2022-12-31 | $25.34 | $28.58 | x |
| 2023-12-31 | $24.86 | $28.58 | x |
| 2024-12-31 | $25.33 | $28.58 | x |
| 2025-12-31 | $26.16 | $28.58 | 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): 9.98%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 69.28%
- • Asset Turnover: 0.09x
- • Equity Multiplier: 1.68x
- Recent ROE (9.98%) is above the historical average (6.51%), 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 | 0.89% | 21.18% | 0.02x | 2.04x | $-434.97 Million |
| 2018 | 7.59% | 58.31% | 0.08x | 1.64x | $-166.48 Million |
| 2019 | 6.78% | 61.02% | 0.07x | 1.65x | $-258.93 Million |
| 2020 | 9.39% | 72.76% | 0.07x | 1.80x | $-57.70 Million |
| 2021 | 8.32% | 67.16% | 0.09x | 1.44x | $-204.87 Million |
| 2022 | 5.01% | 42.97% | 0.07x | 1.69x | $-1.11 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 |
| 2025 | 9.98% | 69.28% | 0.09x | 1.68x | $-4.27 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: $840,156,256
- Average return on equity (ROE) among peers: -2.35%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| VICI Properties Inc (VICI) | $28.22 Billion | 0.00% | 0.66x | $30.00 Billion |
| American Assets Trust Inc (AAT) | $155.12 Million | 2.82% | 6.20x | $1.27 Billion |
| Armada Hflr Pr (AHH) | $779.82 Million | 2.81% | 1.49x | $487.33 Million |
| Broadstone Net Lease Inc (BNL) | $3.26 Billion | 3.57% | 0.67x | $3.76 Billion |
| CTO Realty Growth Inc (CTO) | $114.22 Million | 0.52% | 0.62x | $623.55 Million |
| Empire State Realty Trust Inc (ESRT) | $1.98 Billion | 3.21% | 0.99x | $951.02 Million |
| FrontView REIT, Inc. (FVR) | $522.68 Million | -4.25% | 0.57x | $294.35 Million |
| Generation Income Properties Inc (GIPR) | $16.93 Million | -19.13% | 2.79x | $1.40 Million |
| Global Net Lease, Inc. (GNL) | $1.41 Billion | 1.67% | 1.15x | $2.04 Billion |
| Gladstone Commercial Corporation (GOOD) | $135.31 Million | 4.22% | 2.35x | $588.44 Million |
| Medalist Diversified Reit Inc (MDRR) | $23.00 Million | -18.98% | 3.02x | $12.70 Million |
About 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